Good afternoon, friends, and kudos to you for making it to the weekend. It’s been quite the overwhelming week, but we’ve finally made it to shore. In today’s issue, we’re exploring how AI is reshaping media production in Egypt, crowning one of our favorite series of the season, and more.
So, when do we eat? Maghrib prayers are at 5:56pm in the capital, and you’ll have until 4:49am tomorrow to hydrate and caffeinate ahead of fajr.
THE BIG STORY TODAY-
📍The first round of meetings to assess Banque du Caire’s fair value on the EGX has kicked off, a senior government official tells EnterpriseAM, paving the way for the government to move ahead with the state IPO program despite current geopolitical tensions. The government is looking to offer a stake of 30-40% on the EGX, with the final valuation still under wraps. Trading could begin as early as the April-June window, depending on the committee’s final decision.
Who is interested? Expressions of interest for minority stakes have already been flowing in from financial institutions, including the International Finance Corporation and the European Bank for Reconstruction and Development, our source tells us.
^^ Read the full story and more details in Sunday’s edition of EnterpriseAM.
THE BIG STORY ABROAD-
🌐 The US-Iran conflict continues to drive oil prices higher, extending a rally this morning. Brent crude is up 2.1% at USD 83.1 per barrel, while WTI is 2.6% higher at USD 76.6 per barrel. In market news, Asian shares surged as South Korea’s Kospi bounced back, jumping as much as 12% this morning, after witnessing its worst single-day decline yesterday. The aviation market remains under pressure, with airline shares trading mixed. Limited operations have resumed out of the region since the conflict began.
^^Read more on: CNBC and Reuters here and here.
Meanwhile, Anthropic’s CEO Dario Amodei is back in talks with the US DoD over the use of the AI firm’s tools by the military. Amodei is making a last-ditch attempt to reach an agreement regulating the Pentagon’s access to Anthropic’s Claude models.
^^Read more on: CNBC and the Financial Times.
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** CATCH UP QUICK on the top stories from today’s EnterpriseAM:
- Egypt received a USD 2.3 bn disbursement from the IMF. We secured the fresh funds after passing the fifth and sixth reviews of the Extended Fund Facility and first review of the Resilience and Sustainability Facility;
- The IMF is assessing how the war in the Gulf could impact countries with existing loan programs, including Egypt and Jordan. The exercise will inform the fund’s upcoming evaluations of existing programs;
- Egypt has offered to ship Saudi crude to the Mediterranean from Yanbu via the Sumed pipeline that runs from Ain Sokhna to Sidi Kerir. With Hormuz effectively closed by ongoing hostilities and ins. premiums rising, Saudi is facing a major rethink of regional logistics.
☀️ TOMORROW’S WEATHER- It’s going to be another cool weekend in Cairo, with a high of 21°C and a low of 12°C, according to our favorite weather app.




