Good morning, friends. We have a relatively brisk news day on our hands today, led by news of an upcoming hike to electricity prices and the budget deficit widening again.
PSA-
WEATHER- It’s another cool day in Cairo, with a high of 23°C and a low of 14°C, according to our favorite weather app.
It’s a little cooler in Alexandria, with a high of 22°C and a low of 13°C.
WATCH THIS SPACE-
#1- The General Authority for Investment and Freezones will begin a full re-engineering of investment procedures in January as part of its plan to launch a single electronic platform for all investor licensing, approvals, and follow-up services, the authority said in a statement. The digital portal will centralize permits, streamline processes, reduce human intervention, and offer investors a unified interface for interacting with government agencies.
#2- The Finance Ministry plans to auction off a total of 500k quintals of cottonseed over the next year, government sources told EnterpriseAM. The first auction will see the ministry sell around 20k quintals.
Sales will take place through the Egyptian Mercantile Exchange, the sources said. The government is preparing an incentive package to encourage companies to register on the exchange ahead of the first auction. The ministry also plans to add three more commodities to the platform next year to expand participation and attract more private-sector traders to the exchange.
The government is also working with relevant authorities to refine trading mechanisms and increase activity on the exchange, according to the sources. Efforts are underway to resolve the technical and administrative hurdles that have previously hindered trading.
FROM THE DEBT MARKETS-
The Central Bank of Egypt has sold USD 961 mn worth of one-year, USD-denominated treasury bills at an average yield of 3.75%, according to its website. The issuance was oversubscribed, receiving a total of 19 bids worth over USD 1 bn for the bank’s planned USD 950 mn offering.
AND- The Finance Ministry sold EGP 5.5 bn worth of local sovereign sukuk in its third issuance under the country’s first-ever local sukuk offering, according to official data. The three-year, EGP 4 bn ijara issuance — a leasing-based Islamic security — attracted an order book of EGP 8.2 bn from 28 bidders. The auction is one of three planned for December, with a combined value of EGP 14 bn.
REMEMBER- The strong demand follows the second sukuk issuance in mid-November, which drew bids worth nearly 11x the offering size, prompting the ministry to expand its December issuance schedule. The sukuk program aims to raise a total of EGP 200 bn by June 2026.
SMART POLICY-
The Financial Regulatory Authority has issued its first unified and comprehensive manual covering every service it provides across the non-bank financial system, according to a statement from the regulator. The authority positions the manual as a pillar of its strategy to enhance transparency, improve the business environment, and strengthen Egypt’s ability to attract domestic and foreign investment.
The authority will update the document on a rolling basis to ensure alignment with global regulatory developments, inviting all market participants to use it as the official and sole reference for dealings with the regulator.
Want to take a look yourself? You can check out the guide here.
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SUKUK WATCH-
Weekly sukuk roundup: The yield to maturity on Egypt’s February 2026 sovereign sukuk rose to 7.07% on Friday, up from 6.76% the week before, according to the Egyptian Financial Company for Sovereign Taskeek’s weekly report (pdf). The sukuk traded lower at USD 100.88, compared to USD 101.03 a week earlier.
HAPPENING TODAY-
It’s day two of the Egypt Defence Expo (EDEX) at the Egypt International Exhibition Center. The event, which is running until Thursday, will showcase the latest land, sea, and air defense technologies. The event is expected to bring together over 40k visitors to check out the 450 exhibiting companies.
HAPPENING TOMORROW-
Non-oil private sector growth activity to break its eight-month streak in the red? S&P Global will release PMI figures measuring non-oil private sector activity for November tomorrow. Last month’s report came with encouraging news, with the index edging up to 49.2, 0.8 points short of the 50.0 threshold that separates growth from contraction.
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THE BIG STORY ABROAD-
European leaders reaffirmed support for Ukraine during President Volodymyr Zelenskiy’s visit to Paris, where he met French President Emmanuel Macron and joined a call with other EU leaders to coordinate positions on a revised US peace. The updated plan, which is still under negotiation, follows two rounds of US-Ukrainian talks and is expected to be reviewed in Moscow this week, where Trump’s special envoy Steve Witkoff will brief Russian President Vladimir Putin. (Reuters | New York Times | BBC | France24)
AND IN BUSINESS NEWS- Global stocks and cryptocurrencies fell yesterday as investors turned cautious ahead of key US economic data and the Federal Reserve’s 10 December policy meeting. The sell-off followed weeks of volatility driven by concerns over AI stock valuations and uncertainty about the economic outlook. (Financial Times | Reuters | Bloomberg)
ALSO- OpenAI has acquired a stake in Thrive Holdings, a private equity firm set up by top OpenAI backer Thrive Capital, in a new agreement that deepens the AI company’s ties with its investors and partners. The arrangement gives OpenAI a “meaningful” share in Thrive Holdings — which acquires and modernizes service firms like accounting and IT providers using AI. (Financial Times | Reuters | Bloomberg | CNBC | New York Times)

*** It’s Going Green day — your weekly briefing of all things green in Egypt: EnterpriseAM’s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.
In today’s issue: We look at how while AI is straining global energy systems, it may also be opening a new pathway to create more sustainable energy systems.







