Wadi Group has decided to indefinitely postpone plans to establish a new fodder plant due to capex and financing concerns, CEO and President Tony Freiji tells Al Shorouk. The company will focus instead on its projects in the Toshka area, particularly in lights of its liquidity shortage and how high interest rates are at the moment, Freji adds.
More from Enterprise
The National Bank of Egypt and Banque Misr just hiked rates on CDs — moves that could see the EGP gain against the USD
NBE and BM both hiked rates on CDs by 125…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Here’s why “temporary listings” are all the rage right now
The government plans to list Misr Travel and Egoth in…
Kiwe gets Central Bank green light to launch nationwide
The startup is backed by our friends at EFG Hermes,…