Egypt Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
Share Issue
Good afternoon, ladies and gents, and happy almost-THURSDAY.
THE BIG STORIES TODAY
#1- Ocior Energy proceeds with green hydrogen plans: India’s Ocior Energy has inked preliminary contracts with the government to set up a USD 4 bn green hydrogen plant in the Suez Canal Economic Zone (SCZone), Asharq Business reports, citing Yehia El Wathek Bellah, head of the Trade Ministry’s Commercial Representation Authority. The remaining contracts will be finalized in the coming months and execution will take place in the coming six years, according to El Wathek Bellah. The Indian company was among the seven companies and consortiums that in December inked MoUs with the government to conduct feasibility studies on new projects to produce green hydrogen and its derivatives.
#2- GAFI’s new digital platform gets its first trial: A new company, Damietta Green Ammonia, was established virtually today through the General Authority for Freezones and Investments’ (GAFI) new digital platform, according to a cabinet statement. The new platform, which GAFI boss Hossam Heiba announced earlier this week, will provide investors with the services to establish companies, authenticate contracts at notary offices, and register using electronic signatures among other services.
THE BIG STORY ABROAD
China has stepped into deflation territory: China’s consumer price index fell 0.3% y-o-y in July, while year-to-date inflation is at 0.5% — far below the government’s annual inflation target of 3%. The country’s deflationary trend, which comes as many other countries grapple with persistently sticky inflation, was attributed to weaker local consumer demand after lifting covid-19 restrictions. Financial Times | Wall Street Journal | Reuters
** CATCH UP QUICK on the top stories from today’s EnterpriseAM :
- Egytrans to finalize NOSCO acquisition in 4Q 2023: The Egyptian Company for Transport Services’ (Egytrans) will finalize its acquisition of 99.9% of the National Transport and Overseas Services Company (NOSCO) through a share swap in 4Q 2023.
- Chinese home appliances giant Midea Group launched its USD 25 mn washing machine factoryin China’s TEDA industrial zone in Ain Sokhna.
- Flat6Labs launches a contech accelerator: Regional venture capital firm Flat6Labs is launching a new sector-specific accelerator, dubbed Makers, to support startups in the construction technology industry.
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.
Do you want to become a commercial partner? Ping a note to Moustafa Taalab, our head of commercial, or fill out this form and we’ll be in touch.
Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.
LISTEN TO OUR PODCAST-
MISSED THE ENTERPRISE EXPORTS AND FDI FORUM? The EnterprisePodcast has you covered : The Enterprise Podcast’s forum series has been bringing you audio recordings of what was said on stage at the Enterprise Exports and FDI Forum,which took place in May. Throughout, we learned lessons from some of Egypt’s biggest exporters on how Egypt can export its way out of a crisis. We heard everything from how to build an exports and FDI strategy, to identifying a foreign partner and tapping into a global supply chain.
WANT TO LISTEN? Head to: Apple Podcast | Spotify | Google Podcast | Anghami.
IT’S THE FINAL EPISODE- Our final panel of the day was, naturally, the most forward looking. Our panelists discussed how the companies — be they in age-old industries or emerging ones — have adapted to changes to better position their businesses for an uncertain future. We were joined by Nadia El Tawil, investment officer at pan-African private equity firm AfricInvest, Mostafa Bedair , CEO of Giza Seeds and Herbs, and Abdallah Sallam, CEO of Madinet Masr.
OUR FORUM SERIES CONTINUES NEXT SUNDAY WITH THE ENTERPRISE CLIMATE FORUM- Fresh off the heels of a successful COP27, we held our first forum to dive deep into the fundamentals of what we think is the world’s most important industry. The conversations ranged from exploring the business opportunities for Egyptian entrepreneurs, companies and startups in climate, to demystifying green hydrogen, and how we finance our green transition. And we did it all in the Grand Egyptian Museum.
Get Enterprise daily
The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.
☀️ TOMORROW’S WEATHER- We’re hitting 40 again: The mercury will reach a high of 40°C in the daytime and dip to a cooler 24°C in the evening, according to our favorite weather app.
