Fresh legislative package to boost investment?

Monday, 29 Sep 2025

Fresh legislative package to boost investment?

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Today at a glance

Economy

Gov’t readies legislative package to boost investment, ease customs hurdles.

Industry

Will the government shield ceramic producers from Chinese dumping?

Energy

Weakening demand creates backlog of LNG cargoes at ports.

M&A WATCH

FRA greenlights Wafa, Raya tender offers as bids go live on EGX.

Tax

Revamp of entertainment tax to spare cinema, theater from tax increases.

Startup watch

Sabika raises USD six-figure investment.

Also on our Radar

Accor wants to operate 22 new hotels in Egypt.

PLANET FINANCE

Private equity braces for EUR 110 bn fundraising glut as exits stall.

BLACKBOARD

Gov’t launches pharma-focused applied technology schools in cooperation with Italy.

What We're Tracking Today

Egypt to fast-track all investment approvals to 20 days

Good morning, friends and happy Monday to you all. The news flow has picked up after a slow start to the week. We lead today’s issue with the latest efforts to boost investment — fast-tracking all approvals and preparing a legislative package to remove tax, customs, and procedural barriers.

ALSO- Gas demand has fallen significantly with the weather cooling, leaving the state with more LNG supplies than it knows what to do with and anti-dumping tariffs on Chinese ceramics could be on the table in response to complaints from local ceramics players.

PSA-

WEATHER- It’s another cool day in Cairo, with a high of 33°C and a low of 23°C, according to our favorite weather app.

It’s a little cooler in Alexandria, with a high of 30°C and a low of 21°C.

WATCH THIS SPACE-

#1- Speedy approvals for all. Government entities will soon be required to issue all necessary approvals for investment requests electronically within 20 working days, the same timeframe granted to golden license holders, General Authority for Freezones and Investment CEO Hossam Heiba said. The change will be included in the draft of the new Companies Law, which will soon be submitted to the House for discussion, he said.

The move will benefit startups in particular, “as they had previously been the most affected by the long duration and complexity of establishment processes compared to larger, higher-value companies that could better withstand delays,” Heiba said.

#2- The General Authority for Freezones and Investment is putting together a package of incentives to boost foreign investments in priority sectors, a government source told EnterpriseAM. The package will be part of an upcoming promotional campaign to attract foreign investments, we were told.

The government has 31 priority sectors that it wants to promote in public and private freezones, according to a government document reviewed by EnterpriseAM. Of the 31 sectors, eight are ready to be promoted, while the promotional efforts for the other sectors will require more time to prepare due to the need for legislative and procedural changes, according to the document. The first batch of sectors will include chemicals, textiles, pharma, hotels and resorts, consumer electronics, and healthcare.

DATA POINT- Public and private freezones hosted 1.2k projects with a total capital of USD 14.1 bn as of the end of June 2025.

DEBT WATCH-

The Central Bank of Egypt auctioned off some EGP 183.2 bn worth of treasury bills on Thursday and Sunday — a 30.8% increase from the targeted EGP 140 bn, according to the bank’s website. The bills sold had tenors ranging from three to 12 months and average yields between 25.85% and 27.26%.

HAPPENING TODAY-

It’s day one of Egypt Innovation Week, the country-wide “week-long celebration [that] brings together entrepreneurs, investors, educators, and government leaders to spark collaboration and drive real impact,” according to the event organizers.

Kicking off the week’s series of events is the Techne Summit Cairo, which begins today at the Sultan Hussein Kamel Palace and Ghurnata Community Space. The two-day event is expected to bring together tens of thousands of innovators from over 70 countries and some big names in the local, regional, and global startup scene as speakers.

Alex Angels’ Capital Connect series of events also begins today, with the angel investment network set to hold panel discussions, networking meetups, and exclusive gatherings to connect budding entrepreneurs and startups with investors. Over 200 investors from more than 70 countries will take part in the event, which runs until 6 October.

HAPPENING TOMORROW-

Egypt-South Korea relations in the spotlight: To mark 30 years of diplomatic ties between Egypt and South Korea, the two countries will host the Egypt-South Korea Business Forum tomorrow. Bilateral investment, trade, green energy, and education cooperation are expected to top the agenda.

CIRCLE YOUR CALENDAR-

You only have until this Wednesday to apply for the Onsi Sawiris School of Business’ Executive MBA program. The program offers senior executives, entrepreneurs, and professionals the chance to hone their leadership skills, learn how to drive real strategic change in their organizations, and gain a new global perspective on business. The 20-month program tailored for working professionals is set to kick off in mid-October.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

** DID YOU KNOW that we cover Saudi Arabia and the UAE?

** Were you forwarded this email? Tap or click here to get your own copy delivered every weekday before 7am Cairo time — without charge.

ICYMI- Missed this week’s Inside Industry? In our weekly vertical exploring all things industry and manufacturing, we looked at the impact of the gas price hike on industries. Check out the story here.

THE BIG STORY ABROAD-

It’s a quiet Monday morning in the global business press, with no single story dominating the headlines. Among those receiving attention:

#1- Trump is optimistic about his plans to end the war in Gaza, ahead of partaking in a meeting with Israeli Prime Minister Benjamin Netanyahu today. Trump told Reuters he’s had a “very good response” from regional leaders and that “everybody wants to make a deal.” Trump’s 21-point proposal centers on halting Israeli strikes and opening a new dialogue between Israel and the Palestinians under a “peaceful coexistence” framework. It calls for the release of all Israeli hostages — living or dead — and would bar further Israeli attacks on Qatar. (Financial Times | Axios | Washington Post | The Guardian)

#2- The region could stand to gain from Trump’s new H-1B visa fees: The Middle East could be the biggest winner from Trump’s plan to slap a USD 100k fee on H-1B visas, with Gulf states already trying to position themselves as an AI hub, potentially luring in tech talent, write CNBC. Saudi Arabia and the UAE are already offering top-tier pay, long-term golden visas, and a business-friendly environment — positioning themselves as an attractive alternative just as US policy tightens.

*** It’s Blackboard day: We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed.

In today’s issue: We took a look at the five new pharma-focused applied technology schools that opened their doors this academic year in cooperation with Italy.

Tags:

GAFI What We're Tracking Today

As the Sahel summer winds down, the Red Sea is just getting started. Say hello to Somabay, a year-round seaside escape where tranquil waters, world-class diving, kitesurfing, golf, and wellness come together in one breathtaking destination. This September, it also hosts the ITF World Tennis Tour, bringing world-class tennis to the coast. Somabay is the perfect next stop, a place where the season never ends, and every day feels like the first day of summer.

Economy

Egypt readies sweeping legislative package to boost investment, ease customs hurdles

The government is preparing a new integrated package of legislation to support the business community, which will be submitted to the House of Representatives once finalized, a senior government source told EnterpriseAM. The package aims to make it easier for businesses to operate by removing tax, customs, and procedural barriers.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

A new package of 21 customs measures is in the works, including a new law that would allow producers to pay customs duties on production inputs in installments, rather than in a single payment before clearance as is currently required. This change would help ease liquidity pressures, shorten production cycles, and cut warehousing costs, we were told.

The amendments also include new mechanisms to resolve long-standing issues facing factories in freezones and special economic zones. Currently, discrepancies in stock levels or production losses trigger penalties from the Industrial Development Authority and customs. Under the new draft, these cases would be considered minor violations, with higher tolerance levels for production losses, which will reduce the financial burdens on industrial projects.

New provisions will also be introduced to settle customs disputes, mirroring the approach adopted for tax disputes, the source said. Authorities are also studying cutting down the number of agencies required to inspect certain imported goods that do not need technical analysis. This would reduce costs and shorten the time goods spend in bonded warehouses.

Starting this month, a new AI-driven risk assessment system is being piloted in customs inspection and evaluation. The system is expected to facilitate broader use of transit, temporary admission, and conditional release procedures, while safeguarding against high-risk shipments.

There are also in-the-works amendments to the Investment Law, particularly Article 10, which would expand the scope of local and foreign investment, according to a government document seen by EnterpriseAM. The changes are expected to simplify procedures and attract more eligible investors across multiple sectors.

The government is preparing to roll out new electronic platforms for economic entities, including the Integrated Egypt Trade Platform, to raise efficiency across Egypt’s trade system.

Once enacted, these new laws and incentives could help Egypt attract more foreign investment by offering simplified procedures for the business community, the source said.

Tags:

customs economy legislation

Industry

Will Egypt shield ceramic producers from Chinese dumping?

Local ceramic and porcelain producers are awaiting a decision from the Investment Ministry on whether to impose safeguard tariffs on imports of Chinese origin — even if they enter via Arab countries — after filing a complaint three months ago, head of the ceramics division at the Federation of Egyptian Industries’ Building Materials Chamber and Vice Chairman of El Sallab Group Hossam El Sallab told EnterpriseAM. The case is in its final stages with the authorities, and a decision is expected within a month, which El Sallab believes would protect local industry from dumping practices and restore balance to the market.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

The local market is going through a slowdown amid weaker demand for building materials, making exports a strategic option for companies to weather the downturn, Al Ezz Ceramics and Porcelain (GEMMA) Investor Relations Director Hatem Shaheen told EnterpriseAM. Exports rose to 17% of the company’s sales in 2Q 2025, up from 9% in 1Q, with expectations for further growth in 3Q. Exporting provides more flexibility in managing rising local costs and helps maintain production capacity, Shaheen said, adding that expanding abroad is a priority for the company in the near future.

Still, boosting local demand requires incentives — foremost among them is easing construction permit issuance, which would benefit all building materials industries, not just ceramics, El Sallab said.

The challenge doesn’t come from Arab investments but from Chinese-backed projects that aim to “destroy building materials industries” in the Arab region by flooding markets with subsidized products, El Sallab argues. These firms enter Arab markets under the guise of local investment, but, in reality, they rely on Chinese labor and financing, giving them an unfair cost advantage and forcing local producers out, as has already happened in some Gulf markets, El Sallab said.

It’s not just Egypt that is struggling with the dumping of Chinese ceramic products: The EU, the UK, GCC nations, and more have anti-dumping measures on imports of Chinese ceramic products.

BY THE NUMBERS- Egypt’s ceramics industry generates some EGP 21 bn in annual revenues, with key players operating 33 factories with a maximum production capacity of 400 mn sqm a year, according to Prime Research. Egyptian ceramic and porcelain exports were valued at USD 47 mn in 1H 2025, down from USD 64 mn in the same period last year.

Tags:

ceramics China industry Manufacturing trade

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Energy

Weakening demand creates backlog of LNG cargoes at Egyptian ports

LNG oversupply? As the weather cools and so does energy demand, the country is left with a queue of LNG vessels looking to unload their supplies and get on their way. At the moment, there are three LNG tankers ready to unload but remain waiting outside the country’s import terminals, Bloomberg writes, pointing to “scheduling issues and faster-than-expected seasonal demand decline.”

The queue could get longer, with two more ships currently en route to the Red Sea terminals.

Buy, why? “The congestion arises as Egypt, which became a net importer of the fuel in 2024 and more than doubled its LNG imports this year, is struggling to correctly assess its demand and schedule deliveries,” Bloomberg reports, citing people it says are in the know.

REMEMBER- Incoming LNG shipments are set to fall by a third in the last quarter of the year, with the country expected to receive around 40 shipments in the post-peak summer period, a government source told EnterpriseAM earlier this month. But the country may not need to follow through on all these shipments, as the contracted shipments have flexible terms in the event of fluctuating local production and demand, our source told us.

ALSO- Egypt is set to receive its fifth floating storage and regasification unit (FSRU) tomorrow — the 450 mcf/d Energos Winter owned by US-based New Fortress Energy — CNN Business reports, citing an unnamed government official. The vessel will undergo preparations before moving to the United Gas Derivatives Company berth in Damietta, where it will be connected to the grid and made ready to receive cargoes starting in October, the official said.

A backup plan: The Oil Ministry aims to have four operational regasification units while keeping the fifth unit on standby in case any of the units go out of service, the official added.

ICYMI- We’re getting our very own onshore regasification unit, which will be set up at the idle Idku liquefaction facility in partnership with Shell and Petronas. The USD 200 mn unit will begin operating in August 2027. The plant will help cut down on the cost of importing energy and will reduce the country’s reliance on leased regasification units — the cost of leasing a regasification unit exceeds USD 200 mn a year, making it more feasible to set up a permanent facility.

GOV’T HIKES GAS TRANSMISSION TARIFF-

The government has raised the tariff for transporting natural gas through the national grid, setting it at USD 0.50 per mn British thermal units (BTU), a one-third increase from 2023’s USD 0.376, a government source in the energy sector told EnterpriseAM.

REFRESHER- The transmission tariff is reviewed annually, taking into account investment costs and operating expenses.

ICYMI- The Madbouly government is looking to liberalize the natural gas market by allowing multiple suppliers to make direct sales to private-sector customers, a government source previously told EnterpriseAM. The new system would give large industrial players the option to secure their gas needs through direct contracts with suppliers if they can land better prices or terms, we were told.

TO THAT END- The country’s 12 gas distribution networks are getting restructured in a bid to adjust how gas volumes and tariffs are managed to allow more companies to enter the market, the government source told us.

Tags:

energy oil and gas

M&A WATCH

FRA greenlights Wafa, Raya tender offers as bids go live on EGX

FRA clears two MTOs to go live: The Financial Regulatory Authority (FRA) signed off on the publication of two mandatory tender offers (MTOs) — Wafa Assurance’s and Raya Holding's — moving them from filing to execution. Both offers are now open to shareholders on the EGX.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

#1- Wafa’s takeover bid for Delta opens: Casablanca-listed Wafa Assurance secured regulatory clearance to proceed with its MTO (pdf) for Delta Ins., it said in a bourse disclosure (pdf). The target company’s shareholders now have until Monday, 27 October, to decide whether to tender their holdings into the MTO with settlement due within five days of closing.

REFRESHER- The liquid MTO is live at EGP 40 per share for up to 125 mn Delta shares (100% of the company), with a minimum acceptance threshold of 51%. This values the transaction at up to EGP 5 bn and gives Wafa a pathway to either majority or full control of the company. Wafa submitted the MTO to the FRA in June.

Premium kicker: The offer price represents a roughly 134% premium, by our math, to Delta’s six-month average closing price of EGP 17.07, according to FRA filings.

What’s next? Delta’s parent company Egypt Kuwait Holding (EKH), which owns 63.4% of the ins. firm, said its board has yet to decide whether to tender, according to a separate filing to the EGX (pdf). The conglomerate is reviewing an independent fair value study and an auditor’s report before making a recommendation in line with EGX listing rules. Wafa said it plans to delist Delta from the EGX and merge Delta Life with its own life arm within months of closing the proposed acquisition.

ADVISORS- Our friends at EFG Hermes are brokering the transaction and are acting as EKH's financial advisor, while Sharkawy & Sarhan and A&O Sherman Morocco are providing counsel. Attijari Conseil is also serving as a financial advisor, and Forvis Mazars is providing tax and financial advisory services out of both Morocco and Egypt.

#2- Raya Holding’s MTO for Raya CX goes live: Raya Holding launched its MTO (pdf) for Raya Customer Experience (Raya CX), after securing FRA approval, according to an EGX filing (pdf). The offer, open through Sunday, 26 October, is priced at EGP 7.50 per share, the top of the indicated price range, valuing the transaction at roughly EGP 330 mn.

ICYMI- Raya submitted the MTO to the FRA late last month. The firm is looking to increase its stake in the outsourcing arm to 90% from 60.8% in an offer valuing the company at around EGP 1.54 bn.

ADVISORS- Al Ahly Pharos is acting as broker on the transaction, while Zaki Hashem & Partners is acting as the legal advisor. Zilla Capital is transaction advisor.

IN OTHER M&A NEWS-

Mostakbal Misr raises stake in Mansoura Poultry: Mostakbal Misr Agency for Sustainable Development has raised its stake in EGX-listed Mansoura Poultry to 22.5% from 4.8% in a EGP 212.6 mn transaction, according to a bourse disclosure (pdf). Meanwhile, an individual investor exited his entire 8.6% stake for EGO 101.6 mn, according to another filing (pdf).

Tags:

insurance M&A Watch Raya CX Raya Holding

Tax

Revamp of entertainment tax to spare cinema, theater from tax increases

Previously planned tax increases for cinema and theatre look set to be scrapped, with planned tax amendments to the tax law for the industry being reviewed by the Finance Ministry at the request of Prime Minister Moustafa Madbouly, a government source told EnterpriseAM. Driving the move were concerns that the planned tax increase would negatively impact the creative industries, we were told.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

The government is also drafting a support package for cinema and theater producers, which will help them produce and market their productions, we were told.

But not everyone in the entertainment sector will be spared, with the state still planning to go ahead with tax increases for certain types of parties and locations where they are held. There’s also a push to adjust the minimum entry fees for concerts with foreign artists, according to our source.

One option being studied is to restructure the tax into progressive brackets based on ticket prices, easing pressure on theaters and smaller producers while imposing higher rates on high-end concerts and events in tourist hotspots, the source added.

DATA POINT- Entertainment tax revenues stood at just EGP 1.4 bn last fiscal year; the Finance Ministry is targeting EGP 1.2 bn this year. Entertainment providers say the burden is already heavy due to overlapping VAT, property taxes, and other fees, the source said.

Tags:

Finance Ministry media tax

Startup watch

Egypt’s Sabika raises USD six-figure investment

Homegrown gold and silver investment platform Sabika has secured a USD six-figure strategic investment led by M Empire Angels to support its expansion in Egypt and the GCC, the company said in a statement (pdf).

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

Where’s the money going? The startup will use the capital to enhance its platform, roll out AI-powered investment tools, and expand regionally — starting with Saudi Arabia this year.

About the Sabika: The company aims to offer users an accessible, ethical way to save and invest in gold and silver through a digital platform that blends Islamic finance principles with real asset-backed savings. So far, it has accumulated 20k users across 27 Egyptian cities, recording over EGP 120 mn in transaction volume.

What they said: “People have always trusted gold — but they needed a system they could trust just as much,” said CEO Ibrahim Anwar. “That’s what we’re building at Sabika: simple, smart, aligned with our values, and built for long-term resilience.”

Tags:

Startup watch startups

LAST NIGHT’S TALK SHOWS

El Hadidi discusses water security with irrigation minister

Water security on the airwaves: Lamees El Hadidi put water policy under the spotlight on El Sora last night, sitting down with Irrigation Minister Hani Suweilam to discuss the topic.

GERD is more political than it is about anything else: On the Grand Ethiopian Renaissance Dam, Suweilam said power generation was never the dam’s real goal (watch, runtime: 1:38). “The main purpose of the dam is political — to control the Nile’s headwaters and dominate regional decision-making,” he claimed. He added that the power output doesn’t match the amount of water stored, and pointed to Ethiopia’s repeated refusal to strike an agreement.

REMEMBER- Ethiopia officially inaugurated the Grand Ethiopian Renaissance Dam earlier this month after more than a decade of construction and negotiations with downstream nations, Egypt and Sudan, that never went anywhere.

Water isn’t for sale, and no new fees are coming: Suweilam dismissed recent talk of new charges on irrigation or potable water, saying the cost citizens pay is strictly for maintenance and service — not the water itself (watch, runtime: 1:48). “No farmer or citizen pays for water,” he said, adding that his ministry is responsible for ensuring supply flows at the right levels, while the Housing Ministry handles pricing. The two ministries work together to guarantee delivery without passing on new costs to the public.

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GERD LAST NIGHT’S TALK SHOWS

EGYPT IN THE NEWS

Egypt’s dietary supplements export push catches the attention of the business press

Egypt’s efforts to ramp up dietary supplements exports are drawing global attention. Overseas shipments of vitamins and mineral-dense and nutritional products have reached USD 350 mn, up 75% from 2022, Bloomberg reports. The industry — which counts 150 companies, 41 operating factories, and another 50 in the works — is aiming to hit USD 1 bn in exports by 2030, Egyptian Association of Supplement Producers and Exporters head Mohamed Anwar told the outlet. Markets including China, Saudi Arabia, the UAE, Turkey, Sierra Leone, and Togo are already buying Egyptian-made products. If the target is reached, supplements could rival textiles as one of Egypt’s key export earners.

Tags:

trade

Also on our Radar

Accor wants to operate 22 new hotels in Egypt

HOSPITALITY-

#1- French hospitality group Accor plans to operate 22 new hotels in Egypt by 2030, Chief Development Officer for the Middle East, Africa, and Turkey Maya Ziadeh told CNN Business Arabic. The move would add 7k hotel rooms in Egypt — scattered across several areas, including the new capital, Greater Cairo, the North Coast, and Alexandria — and introduce five new hotel brands to the country.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

#2- UAE-based Gewan Hotels wants to expand its footprint in Egypt to manage 11 hotels by year end, up from six currently, CEO Ahmed Hassib told Asharq Business. Egypt is set to contribute around 30% of Gewan’s total revenues by 2028 under the company’s long-term plan, Hassib added.

Part of a wider regional push: The company plans to manage nine hotels across Egypt, Jordan, and Saudi Arabia before the end of 2025, bringing its total portfolio in those markets to 16 properties as part of its strategy to manage 40 hotels across the Middle East by 2030, he said.

DEBT WATCH-

Afreximbank approved a USD 150 mn loan for Canal Sugar, Al Shorouk reports, citing unnamed sources. The loan for the subsidiary of the UAE’s Jamal Al Ghurair Group will be used to finance the purchase of new production lines for the company's sugar factory in Minya and to increase the company's beet productivity to 36k tons per day by next year, up from 11k tons currently.

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Accor ALSO ON OUR RADAR debt hospitality real estate

PLANET FINANCE

Private equity braces for EUR 110 bn fundraising glut as exits stall

Private equity firms are planning to raise three times as much funding in 2026 as they have this year, the Financial Times reports. Ten big European buyout houses are expected to seek more than EUR 110 bn next year — compared to the roughly EUR 34 bn they are set to secure this year — a surge that could force LPs to pick top performers and leave weaker managers short of capital, the FT quotes advisory firm Campbell Lutyens as saying.

This is despite a wave of fundraising fatigue in the industry. Campaigns now take “twice as long” compared to the industry’s heyday, with LPs often insisting on distributions before re-upping against the backdrop of slow exits and lower returns. Advent, Nordic Capital, and Permira are set to remain in market into next year, while Cinven and PAI prepare fresh vehicles. Among this year’s closings are Hg, Ardian, and Oakley.

How slow are we talking? At the current pace, it could take nine years for LPs to recoup capital from the 12k+ companies held by US buyout funds, Bloomberg wrote recently. Dry powder stood near USD 1.2 tn by mid-2025 — about a quarter of what was pledged at least four years ago — while quarterly returns slid from roughly 13.5% in 2Q 2021 to 0.8% in 4Q 2024. Higher financing costs and a lack of promising takeover targets are also weighing on the asset class’ activity.

Managers are leaning on workarounds. Continuation funds and secondaries have surged — accounting for about USD 103 bn of transactions in 1H 2025, with a record USD 302 bn of capital raised for the strategy — but many LPs still prefer traditional exits and view continuation vehicles warily.

Even industry leaders are feeling the strain. Insight Partners cut its flagship target from USD 20 bn to USD 15 bn and still closed around USD 11.5 bn. Apollo, Blackstone, and Carlyle have missed targets and are diversifying into credit, infrastructure, and ins., while Apollo’s Jim Zelter warned of a coming “natural washout.”

The shakeout is pushing investors to be more selective. Texas Teachers is trimming exposure to mega-funds and pivoting toward mid-market managers as performance comes under a “very, very bright light,” advisers say.

Exit pressures are also showing up in public markets. London-listed Petershill Partners blamed weak exit prospects for share-price pressure and said it would delist and return about USD 900 mn to shareholders.

MARKETS THIS MORNING-

Asian markets are mostly in the green, as Sony’s shares surged 36% on its market debut on the Tokyo Stock Exchange and South Korea’s Kospi rose 1.2%. Hong Kong’s Hang Seng also gained 1.2%, while mainland China’s CSI 300 was flat and Japan’s Nikkei fell 0.84%. Over on Wall Street, futures are flat after a losing week.

EGX30	36,166	+1.4% (YTD: +21.6%)
USD (CBE)	Buy 48.08	Sell 48.22
USD (CIB)	Buy 48.10	Sell 48.20
Interest rates (CBE)	22.00% deposit	23.00% lending
Tadawul	11,230	-0.7% (YTD:-6.7%)
ADX	10,000	+0.5% (YTD: +6.2%)
DFM	5,855	+0.7% (YTD: +13.5%)
S&P 500	6,644	+0.6% (YTD: +13.0%)
FTSE 100	9,285	+0.8% (YTD: +13.6%)
Euro Stoxx 50	5,500	+1.0% (YTD: +12.3%)
Brent crude	USD 69.69	-0.6%
Natural gas (Nymex)	USD 3.16	-1.3%
Gold	USD 3,807	-0.1%
BTC	USD 112,125	+2.2% (YTD: +20.7%)
S&P Egypt Sovereign Bond Index	926.79	+0.1% (YTD: +19.2%)
S&P MENA Bond & Sukuk	150.44	+0.1% (YTD: +7.5%)
VIX (Volatility Index)	15.29	-8.7% (YTD: -11.9%)

THE CLOSING BELL-

The EGX30 rose 1.4% at yesterday’s close on turnover of EGP 4.4 bn (0.3% below the 90-day average). Regional investors were the sole net sellers. The index is up 21.6% YTD.

In the green: Rameda (+3.5%), Telecom Egypt (+3.2%), and Abu Qir Fertilizers (+2.4%).

In the red: Qalaa Holdings (-1.6%), Beltone Holding (-1.6%), and Juhayna (-1.3%).

CORPORATE ACTIONS-

#1- CIB's general assembly approved raising the bank’s issued and paid-in capital by EGP 3.1 bn to EGP 33.8 bn, according to a disclosure (pdf) to the EGX. The 307.1 mn bonus shares from the increase are set to be distributed to shareholders at a rate of one bonus share for every ten shares held and to be funded from the bank’s general reserve.

#2- Alexandria Mineral Oils Company will distribute a dividend payout of EGP 0.80 per share on its earnings for the fiscal year ending June 30, according to a disclosure (pdf) to the EGX. The payout will be in two installments of EGP 0.40 each.

#3- ADIB Egypt’s general assembly greenlit raising its issued and paid-in capital by EGP 3 bn to EGP 15 bn, according to a disclosure (pdf) to the bourse. The increase will be funded through the issuance of 300 mn shares at EGP 10 a pop for existing shareholders.

#4- Abu Qir Fertilizers’ general assembly approved a dividend payout of EGP 6 per share on its earnings for the 2024-2025 fiscal year, according to a disclosure (pdf) to the EGX. The dividends will be paid out in three installments, starting with EGP 2 per share on 26 October, EGP 1.5 per share on 31 December, and EGP 2.5 per share on 26 February.

Tags:

Financial Markets Planet Finance private equity

Diplomacy

Abdelatty talks Gaza, Sudan, and Libya with UN chief Guterres

Foreign Minister Badr Abdelatty met with UN Secretary-General Antonio Guterres to discuss the situation in Gaza, regional stability, and Egypt’s role in multilateral diplomacy, according to a ministry statement. Abdelatty stressed in his meeting on the sidelines of the UN General Assembly the urgency of securing a ceasefire in Gaza, ensuring unhindered humanitarian aid, and rejecting any displacement of Palestinians, while reiterating Egypt’s support for a Palestinian state on the 1967 borders with East Jerusalem as its capital. He also announced plans for Egypt to host an international conference on Gaza’s early recovery and reconstruction in cooperation with the UN, the Palestinian Authority, and international partners.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

The two sides also discussed Sudan and Libya, with Abdelatty reaffirming Egypt’s backing for Sudan’s territorial unity and institutions and urging efforts to end the humanitarian crisis in El Fasher. On Libya, he underscored the need to move the political process forward toward simultaneous presidential and parliamentary elections and the withdrawal of foreign forces.

Tags:

DIPLOMACY Foreign Ministry Gaza Middle East politics UN

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Published every Monday in EnterpriseAM.

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BLACKBOARD

Egypt launches pharma-focused applied technology schools in cooperation with Italy

The Education Ministry inaugurated the country’s first-ever schools dedicated to the pharma industry at the start of the new academic year, seeking to take advantage of the country’s existing pharma manufacturing base and push the industry further. The five new schools are based in Obour, Nasr City, Sixth of October, Helwan, and Borg El Arab and were developed in partnership between the Technological Institute for Pharma Industries in Rome, the Egyptian Drug Authority, and the Health Ministry, according to an Education Ministry statement.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

Applied technology schools are becoming an increasingly important part of the education system in Egypt, with more being built every year. The schools are a relatively new addition in the educational landscape in Egypt, bridging the gap in secondary education between classroom learning and the actual needs of the job market.

The country now has 115 of these schools, according to Education Ministry data, most of which are run under a public-private partnership between the ministry and a private company or companies. Students enrolled in the schools usually have a very clear path to employment from the school’s private sector partner and this partner, in turn, has potential recruits living in the right location and with the right skills.

Egypt is positioning itself as a promising pharma hub, but the industry faces a shortage of skilled workers. The initiative to launch the five pharma-focused schools addresses that gap by meeting rising demand for labor in the sector by allowing students to acquire advanced practical skills in the sector, Central Administration for Technical Education Development head Amr Basila told EnterpriseAM.

The programs are designed to provide students with hands-on experience, Basila explained, with schools located near pharma companies where students will receive training. This enables them to join the local or international workforce immediately after graduation, or pursue higher education to further enhance their expertise.

Italy — one of the world’s largest pharma manufacturers — is contributing with its extensive expertise and technology to the initiative. Students will access training and accredited curricula aligned with global standards, under the supervision of the Egyptian education and health ministries.

Students will receive two diplomas — an Egyptian one after three years, and an Italian one after five years. This dual system opens potential for graduates in both domestic and global job markets.

The industry is growing rapidly, particularly in derivatives and meds for chronic diseases such as cancer and insulin, as well as other industries key to reducing imports and localizing production, Federation of Egyptian Industries’ pharma division head Ali Ouf told EnterpriseAM. The current environment requires both financial and professional support, as well as incentives, to further boost the industry and cut the import bill, Ouf added.

ICYMI- We heard last week that the Madbouly government is preparing a bundle of incentives to attract more investment to the pharma sector. The plan includes measures to resolve long-standing issues like rigid pricing, the high cost of meds registration, and the sector’s reliance on imported active ingredients.

Authorities are pushing to expand applied schools in priority industries, a source at the Education Ministry told EnterpriseAM. The number of such schools is expected to reach 200 within the next two years to better align education with labor market needs, we were told.

Your top education stories for the week:

Global construction and development player Innovo will establish the country’s first Innovo Applied Technology School, under an MoU inked with the National Academy for Science and Skills and Singapore’s ITE Education Services. (Statement, pdf)
Higher education company Taaleem Management Services has officially opened Memphis University in East Cairo — its third institution nationwide. The university is kicking off the 2025-2026 academic year with faculties of medicine and business administration. (Statement, pdf)
The Education Ministry and the Educational Center of the Bavarian Economy will cooperate on technical education and vocational training, under an agreement to develop a strategic partnership inked between the two. (Statement)

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Blackboard Education Egypt-Italy relations

CALENDAR

SEPTEMBER

29 September-6 October (Monday-Monday): Egypt Innovation Week.

29 September-6 October (Monday-Monday): Capital Connect.

29-30 September-6 October (Monday-Tuesday): Techne Summit Cairo, Sultan Hussein Kamel Palace, Cairo.

30 September (Tuesday): The Egypt-South Korea Economic Cooperation and Partnership Forum.

The Egyptian-Moroccan Business Council to send a delegation of 23 local companies to Rabat.

The Engineering Export Council of Egypt will ship a commercial delegation to Russia to ramp up exports to European markets.

Egypt Education Platform (EEP) to launch two new schools in Alexandria and Somabay.

Egypt Otsuka’s nutritional products factory in Tenth of Ramadan to begin operations, with exports to Gulf countries expected by January 2026.

OCTOBER

1 October (Wednesday): IMF mission expected to visit Egypt for talks on combined fifth and sixth reviews of the EFF arrangement.

1 October (Wednesday): Applications for alternative housing for old rent tenants will open through an online platform or at post offices nationwide.

2 October (Thursday): Monetary Policy Committee’s sixth meeting.

4-6 October (Saturday-Monday): Techne Summit Alexandria, Alexandria Bibliotheca, Alexandria.

7 October (Tuesday): The 2025 EnterpriseAM Egypt Forum.

7-8 October (Tuesday-Wednesday): HACE-Hotel Expo, Egypt International Exhibitions Center.

7-9 October (Tuesday-Thursday): EgyMedica Exhibition, Cairo International Convention Center.

12-16 October (Sunday-Thursday): Cairo Water Week, Cairo.

19-20 October (Sunday-Monday): Egypt to host the fifth edition of the Aswan Forum.

19-22 October (Sunday-Wednesday): Arab African Investment and International Cooperation Summit.

23-25 October (Thursday-Saturday): Stone Africa Expo, Cairo International Conference Center.

October: The third iteration of the Export Smart Exhibition and Conference.

Mid-October: Capmas to publish the findings of its 2023-2024 income and expenditure survey.

NOVEMBER

1 November (Saturday): The official opening of the Grand Egyptian Museum.

16-19 November (Sunday-Wednesday): Cairo ICT 2025, Egypt International Exhibition Center

20 November (Thursday): Monetary Policy Committee meeting.

23-25 November (Sunday-Tuesday): NEBU Expo 2025 gold and jewelry exhibition, Egypt International Exhibitions Center, New Cairo.

November: Egypt to join the EU’s Horizon Europe research and innovation program.

DECEMBER

1-4 December: Egypt Defence Expo (EDEX), Egypt International Exhibition Center.

4-7 December (Thursday-Sunday): Egy Stitch & Tex Expo 2025, Cairo International Conference Center.

25 December: (Thursday): Monetary Policy Committee meeting.

EVENTS WITH NO SET DATE

Mid-2025: EGX launches sustainability index.

3Q 2025: Nasr Automotive begins locally manufacturing passenger cars.

3Q 2025: Polaris Parks to finalize contracts for two new industrial zones in the new capital and Sadat City.

Mid-2025: The Administrative Capital for Urban Developments to roll out the second phase of offering industrial plots to investors

2H 2025: Potential visit by Chinese President Xi Jinping to Egypt

4Q 2025: The beginning of construction works on China’s State Grid two solar projects.

4Q 2025: GB Auto starts assembling one of China’s Great Wall Motor models in 4Q 2025.

4Q 2025-1Q 2026: Kasrawy Group to launch first Avatr EV models in Egypt.

2025: The InterAcademy Partnership assembly.

2025: Nile Basin States Summit, Cairo, Egypt.

2025: Release of the government’s Startup Charter document.

Before 2025-end: The government will launch two ro-ro shipping lines with Saudi Arabia and Turkey.

2026

Early 2026: Passenger operations on the New Administrative Capital–Nasr City monorail scheduled to begin.

1Q 2026: Trial operations for the Ain Sokhna–Sixth of October section of Egypt’s first high-speed rail line scheduled to begin.

1 January: European Union’s Carbon Border Adjustment Mechanism (CBAM) to fully come into effect.

10-12 February (Tuesday-Thursday): Gitex Global’s AI Everything Middle East & Africa Summit

15 March 2026: IMF to hold its seventh review of Egypt’s USD 8 bn EFF arrangement.

May 2026: End of extension for developers on 15% interest rates for land installment payments

15 September 2026: IMF to hold its eighth review of Egypt’s USD 8 bn EFF arrangement.

2H 2026: Operations at Deli Glass Co’s new USD 70 mn glassware factory kick off.

2027

20 January-7 February: Egypt to host the African Games.

April 2027: Tenth of Ramadan dry port and logistics hub to begin operations.

https://entlaq.com/events/2

EVENTS WITH NO SET DATE

2027: Egypt to host EBRD’s annual meetings for 2027.

End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.

September 2028: First unit of the Dabaa nuclear power plant begins operations.

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