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Even sovereign wealth funds weren’t spared in the 2022 market sell-off: The value of sovereign wealth funds declined for the first time ever in 2022 on the back of the rout in the global equity and bond markets, according to industry specialist Global SWF’s annual report. Sovereign wealth funds — state-owned investment vehicles that invest […]
Author Archives: enterpriseam admin
Posted inCALENDAR
JANUARY January: Fuel pricing committee meets to decide quarterly fuel prices. January: Infinity + Africa Finance Corporation to close acquisition of Lekela Power. January: Global Auto to restart BMW assembly in Egypt. 16-20 January (Monday-Friday): Davos 2023. 25 January (Wednesday): 25 January revolution anniversary / Police Day. 26 January-6 February (Thursday-Monday): Cairo International Book Fair, […]
Posted inWhat We're Tracking Today
THIS MORNING: How long will 25% CDs last? PLUS: EFG Hermes could exit Pakistan, Jordan
Good morning, wonderful people. The EGP continues to trade actively on the back of both local savers de-dollarizing and portfolio inflows from international institutional investors. THE BIG QUESTION here at home: How long will high-yield CDs stay on the market? State-owned Banque du Caire is now offering a one-year, 25% certificate of deposit (CD), the […]
Posted inUncategorized
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Posted inMining
Centamin to request gold mine lawsuit be rejected after Supreme Court ruling on state-investor contracts
LSE-listed gold miner Centamin will file to have a 2011 legal challenge against its Sukari mine
Posted inGreen economy
Green startups get a boost from our friends in the UK
Nine green projects from across Egypt have been chosen to join the ClimateFinance Accelerator (CFA) Egypt’s inaugural program, the UK government-backed initiative announced in a press release (pdf) yesterday. Almost 50 projects applied to join the program, with the chosen nine receiving technical assistance to help them attract finance from international investors. The nine projects […]
Posted inM&A WATCH
STC will have to cough up more for Giza Systems
B Investments just upped its Giza Systems valuation: BPE Partners’ B Investments has increased Giza Systems’ valuation by 7.6% to USD 128 mn after reviewing its working capital and cash balances, it said in an EGX disclosure (pdf) yesterday. ICYMI- B Investments agreed to sell its 44.7% stake in Giza Systems to Solutions by STC […]
Posted inInfrastructure
Tenth of Ramadan dry port tender pushed as bidders adapt to floating EGP
Tenth of Ramadan dry port tender bids pushed to April: Four consortium bidders for the Tenth of Ramadan dry port project will submit their financial and technical proposals on 30 April, Atter Hannoura, the director of the Finance Ministry's PPP unit, told us, confirming a report from Al Borsa. Why the delay? We were previously […]
Posted inREGULATION WATCH
New FRA regulations aim to help insulate ins. companies from credit risk of borrowers
FRA hands down new regulations controlling ins. against credit risks: The Financial Regulatory Authority (FRA) has issued new regulations designed to mitigate credit risk for ins. companies, it said in a statement on Monday. The amendments aim to encourage lenders to run background checks on borrowers before granting them loans and reduce ins. companies’ exposure […]