Good afternoon, friends. It’s nearly the end of this very busy week, which we’re looking forward to more than most other weeks.

THE BIG STORY TODAY

Orascom Construction has sold its entire stake in a construction chemicals subsidiary for EGP 1.8 bn to Swiss chemicals firm Sika, it said in a statement (pdf). The transaction saw OC divest its entire 28.25% stake in the firm as it looks to reallocate funds to accretive investments.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

  • The economic outlook is uncertain — but good Egyptian businesses remain attractive to investors: That was the key takeaway from a panel at the Enterprise Exports and FDI Forum on Monday that featured Hossam Abou Moussa, partner at Apis Partners, Hassan Massoud, associate director and head of private equity for the Southern Mediterranean at the European Bank for Reconstruction and Development (EBRD), and Cheick-Oumar Sylla, the International Finance Corporation’s director for North Africa and Horn of Africa.
  • The European Bank for Reconstruction and Development has cut its Egypt growth forecast for the current fiscal year as the economy continues to face headwinds due to a protracted currency crisis and heightened inflation.
  • Egypt was the largest recipient of FDI in the MEA last year and the second largest recipient globally, drawing around USD 107 bn of FDI in 2022, which went towards 148 projects.

WANT TO START A CAREER IN INVESTOR RELATIONS ADVISORY?Enterprise Advisory (formerly known as Inktank Communications) is looking for smart, talented people to help us tell the stories of exciting companies. Enterprise Advisory is the region’s leading investor relations advisory company and works on investor and strategic communications issues that take you deep inside the c-suite. Our clients are in Egypt, Saudi Arabia, the UAE and beyond. Egyptian and foreign nationals alike are welcome to apply.

NEVER WORKED IN INVESTOR RELATIONS OR ADVISORY BEFORE? We have the Enterprise Advisory Development Program. The four-month program will see full-time, paid participants take part in workshops and lectures from veteran investor relations and advisory professionals, while also applying their knowledge in a practical setting. Those who successfully complete the program will be offered full-time positions on staff for a chance to work in a flexible and supportive — but still fast-paced — work environment that eschews micromanagement and rewards good work. Enterprise Advisory offers the chance to build a network of high-ranking individuals across some of the largest and most influential companies in the region through direct exposure to clients.

During the program, you’ll learn:

  • Finance for non-finance people;
  • How to analyze businesses, their business models, their strategic advantages, and their strategies;
  • How to take that information and then tell an audience of investors, journalists, and analysts a compelling and well-developed story;
  • How to frame individual companies’ stories within the wider macroeconomic environment.

Career switchers are very welcome.

Apply directly to jobs@enterprisemea.com and mention “advisory development program” in your subject line.

☀️ TOMORROW’S WEATHER- The mercury is expected to drop to a more tolerable daytime high of 31°C tomorrow, before cooling off to a low of 16°C in the evening, our favorite weather app suggests.

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