THIS EVENING: Edita could be getting a USD 30 mn IFC loan this month

Happy hump day, ladies and gentlemen. It’s a reasonably busy news day as we kick off a fresh month, which begs the question: Is the summer slowdown going to make its presence known this year?

THE BIG STORY TODAY

Edita could see a USD 30 mn loan from the IFC: The International Financial Corporation (IFC) is considering providing a loan of up to USD 30 mn to EGX-listed snackmaker Edita Food Industries, the lender’s website said. The IFC's board will meet to approve the loan on 31 August.

THE BIG STORY ABROAD

A recent drone attack on a skyscraper that houses Russian ministries is dominating the conversation in the international press this afternoon. The second attack in three days has damaged the 42-storey IQuarter tower, where the trade, digital, and economic development ministries’ offices are located, although there were no casualties or deaths reported as the teams occupying the offices were working from home. Despite promising more “unidentified drone attacks,” Kyiv has not claimed responsibility. Reuters | BBC | Financial Times | CNBC | Associated Press | Bloomberg

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

• Maersk could acquire half of the 545-MW Zafarana wind farm after the government approved the shipping giant’s ownership in principle.
• Beltone looks to acquire mystery microfinance firm: Beltone Financial has inked an MoU to acquire an unnamed local microfinance firm through its holding company or one of its subsidiaries.
• Auto sales resumed their decline in June , falling to the lowest level since February as the industry continues to suffer through the FX crisis.

MARK YOUR CALENDARS- The Enterprise Finance Forum is taking place on 18-19 September at the St. Regis Hotel in Cairo. This flagship forum is the latest in our must-attend series of invitation-only, C-suite-level gatherings that allow senior members of our community to openly and frankly discuss critical issues in key sectors of the economy.

TAP OR CLICK HERE if you want to express interest in attending. We’ll be sending out the first batch of invitations soon.

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STAY TUNED for more detail about our agenda.

DID YOU MISS THE ENTERPRISE EXPORTS AND FDI FORUM? Tune in to the Enterprise Podcast and listen for yourself : The Enterprise Podcast is back with another installment of our forum series, where we bring you audio recordings of what was said on stage at the Enterprise Exports and FDI Forum, which took place in May.

IN THIS WEEK’S EPISODE- We look at whether industrial clusters — which have been used to great effect elsewhere — can be a way for SMEs to be part of a potential export-oriented economy. Our speakers shed light on where industrial zones are working for us already, how Egypt can leverage clusters to get a bigger slice of that cross-border trade, and how industrial clusters can bring together SMEs to work with larger firms. We were joined on that panel by Shady Williams, managing director of IDG, Mohamed ElGebely, team leader at USAID Trade, and Nada El Ahwal, CSO of Transmar.

WANT TO LISTEN? Head to: Apple Podcast | Spotify | Google Podcast . We’re releasing a new episode every Sunday morning.

☀️ TOMORROW’S WEATHER- The mercury is creeping up reaching 38°C at its highest during the day and dropping to 25°C in the night, as per our favorite weather app.