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We recently had breakfast with 20 top CEOs to talk about why exports and FDI are key to our economy going forward. After reading our five-step recipe for turning Egypt into a global export hub and FDI magnet, every participating CEO has agreed to answer two questions on the record. We’ve already heard from: GSK’s […]
Author Archives: enterpriseam admin
Posted inEnergy
In its search for FX, Egypt is burning more mazut
Egypt’s use of mazut fuel oil in power stations has soared to a five-year high as the country works to increase natural gas exports, according to data seen by Reuters. Figures from the Egyptian Electric Utility and Consumer Protection Regulatory Agency (Egyptera) showed that mazut accounted for almost 21% of all fuel used by power […]
Posted inDEBT WATCH
Premium Card issues EGP 201 mn in securitized bonds
Premium Card closes seventh securitized bond issuance: Consumer finance firm Premium International for Credit Services (Premium Card) has issued EGP 200.6 mn worth of securitized bonds, our friends at EFG Hermes, which advised on the transaction, said in a statement (pdf) yesterday. The bond was issued in a 10-month tranche with a Prime-1 rating and […]
Posted inLEGISLATION WATCH
New building violation reconciliation law gets a nod by a House committee
New building reconciliation law gets committee approval: The House Housing Committee yesterday approved the new bill that will make it easier for owners of illegal buildings to go legit following three days of discussions. The legislation — which replaces a 2019 law designed to legalize informal buildings — will prevent structures built next to the […]
Posted inMoves
EBank gets new chairman, deputy chairman
Ahmed Galal (Linkedin) was appointed chairman of state-owned Export Development Bank (EBank) for a three-year term, while Mohamed Abul Soud (Linkedin) has been made deputy chairman, according to a disclosure to the EGX (pdf). Galal has served as the bank’s deputy chairman since August 2017 while Abul Soud headed up the bank’s consolidated risk management […]
Posted inLAST NIGHT’S TALK SHOWS
US-Africa summit in Washington leads the conversation on the airwaves
It was a slow night on talk shows yesterday, with the US-Africa summit in Washington leading the coverage by talking heads. The shows zeroed in on the US-Africa Leaders’ Summit in Washington, Dc, where 49 African leaders have gathered, among them President Abdel Fattah El Sis. The first US-Africa summit was last hosted in 2014 […]
Posted inEGYPT IN THE NEWS
Flamingos flock to Port Fouad
It’s a slow morning in the pages of the foreign press: Flamboyance of flamingos flock to Port Fouad: Xinhua has a photo essay on the flamingos catching some winter sun in the Port Said nature reserve. Buried treasure: An Egyptian-British archaeological mission discovered goldjewelry buried in the ancient city of Amarna in Minya. (The National) […]
Posted inUncategorized
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