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Expect another low inflation reading when Capmas releases September’s figures later today. Annual headline inflation plunged to 7.5% in August, the lowest reading in six-and-a-half years. Analysts are expecting the downward trend to hold, with Pharos’ Radwa El Sweify predicting overall annual inflation to cool to 4.7% and Prime Research estimating urban inflation to fall […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
El Sisi’s meetings with foreing delegations leads Egypt’s airwaves
President Abdel Fattah El Sisi’s meetings with visiting foreign delegations was the number one topic on the nation’s airwaves last night. El Sisi invited South Korean businesses to invest in Egypt during a meeting with an investor delegation yesterday, Al Hayah Al Youm’s Khaled Abu Bakr reported. The president then held talks with Russian Industry […]
Posted inSpeed Round
Egypt’s HHD receives eight requests for 10% stake purchase, management role
Emaar, SODIC, BPE, ODE interested in HHD management: State-owned Heliopolis Housing and Development’s (HHD) offer of a 10% stake in return for managing the company has piqued the interest of at least eight companies, sources told the press. Emaar Misr, SODIC, private equity firm BPE, and Orascom Development Egypt (ODE) are among the companies considering […]
Posted inSpeed Round
Egypt’s USD bonds fall amid anticipation of new issuance
Investors shy away from Egypt’s USD-denominated bonds in anticipation of new issuance: Egypt’s 30-year USD-denominated bonds dropped USD 0.009 to USD 1.053, its biggest fall in one day since protests last month, and the 2047 bond fell USD 0.003 to USD 1.04, its lowest in almost two months, Reuters reported. “There’s been some noise about […]
Posted inSpeed Round
EFIA to push gov’t to float natural gas price for all industry sectors
EFIA lobbies for new natgas pricing mechanism: The Egyptian Federation of Investors Associations (EFIA) will ask the Finance Ministry to impose a new mechanism that would determine natural gas prices for manufacturers akin to the floating customs exchange rate, EFIA’s head of tax and customs Sobhi Nasr told Youm7. Comparing it to the recent exchange […]
Posted inSpeed Round
Egyptian children’s ride hailing app Hive raises USD 400,000 investment
STARTUP WATCH- Hive, a Cairo-based ride-hailing app for children, has secured a USD 400k investment from Abdelmoneim Al Adawy, one of the application’s earliest customers, according to Menabytes. The investment will be used to improve the application’s safety and scale up the company. An alternative to school buses: Hive was founded by Abdelrahman Osama and […]
Posted inSpeed Round
Egypt to implement new minimum wage for civil servants in November
New minimum wage for civil servants coming next month: A decision to raise civil servants’ minimum wage to EGP 2,000 from EGP 1,200 will come into effect next month, the Finance Ministry’s head of budgeting told the House of Representatives, according to the local press. The ministry has prepared a booklet that clarifies all the […]
Posted inSpeed Round
Egypt ranks 93 out of 140 countries on the World Economic Forum’s Global Index
Egypt ranked 93rd out of 140 countries on the World Economic Forum’s 2019 Global Competitiveness Index, rising one place from last year’s ranking of 94. Where we’ve improved: Egypt is on a general upward trajectory, with our institutions, infrastructure, labor market, financial system, business dynamism, and innovation capability all receiving higher scores than last year. […]
Posted inSpeed Round
Egypt’s ExpandCart accepted into Betatron
STARTUP WATCH- Egypt’s ExpandCart has been accepted into the fifth cohort of Hong Kong accelerator Betatron, making it the only African startup to have been included. Entry into the accelerator is notoriously competitive, with Venture Burn reporting that Betatron had an overall acceptance rate of just 0.6% of the 1301 startups that applied. Betatron has […]