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Author Archives: enterpriseam admin
Posted inTHE MACRO PICTURE
Africa leads in mobile money payments
Africa is a global leader in mobile money payments: The region has become the global leader in mobile money innovation, adoption, and usage in the last ten years, according to the IMF, with almost 10% of GDP in transactions generated through mobile payments, compared to 7% of GDP in Asia and less than 2% of […]
Posted inEGYPT IN THE NEWS
Egypt in the news on 16 September 2019
It is a blessedly quiet morning for Egypt in the foreign press, with very little being said about our fair nation. A couple of headlines to skim: An alleged takfiri leader who fled to Sudan after being sentenced to 15 years in prison in 2013 for killings and violence against police officers is now being […]
Posted inWorth watching
The realm of business education is changing
In a world where even the merits of a college degree are being questioned, business schools are turning to online education. As universities report a notable reduction in applications to MBA programs, some, like Boston University’s Questrom School of Business, are taking major steps to meet the evolving needs of prospective students (watch, runtime: 06:13). […]
Posted inDiplomacy + Foreign Trade
Egypt, Sudan, Ethiopia resume GERD talks after over a year
Negotiations on the Grand Ethiopian Renaissance Dam (GERD) resumed yesterday after having stopped for more than a year, Foreign Minister Sameh Shoukry told reporters, according to AMAY. Deputy Foreign Minister for African Affairs, Hamdi Sanad Loza, had expressed unease at the drawn-out negotiations over the weekend. Criticism of GERD had also intensified over the weekend, […]
Posted inDiplomacy + Foreign Trade
Agriculture Ministry to limit the import of Brazilian beef
Egypt may very literally have beef with Brazil: The Agriculture Ministry issued a decision to limit the acceptance of halal meat certificates from Latin America to only the Egyptian Islamic Company (IS EG), causing diplomatic tension with Brazil, one of our major meat exporters who would be forced to export less Brazilian beef, according to […]
Posted inDiplomacy + Foreign Trade
US and Egypt sign USD 16.5 mn grant to support education and agriculture
USAID signed a USD 16.5 mn grant today to support Egypt’s basic education and agriculture sectors, according to an Investment and International Cooperation Ministry statement. USD 13 mn of the grant will be allocated to the third phase of the Basic Education Agreement for the Education Ministry to solve issues in the education sector and […]
Posted inEnergy
EETC settles EGP 1.9 bn cost-sharing bill increase with Benban solar companies
The Egyptian Electricity Transmission Company (EETC) has reached an agreement with the Benban Solar Energy Developer Association that will see the developers pay the EGP 1.9 bn increase in the cost-sharing bill for projects in the Benban solar park, EETC Chairman Sabah Mashali tells Al Mal. The companies working on the solar projects had previously […]
Posted inInfrastructure
NBE issues EGP 1.75 bn letters of guarantees for monorail projects
The National Bank of Egypt (NBE) issued six letters of guarantee worth EUR 64.9 mn (EGP 1.75 bn) to a consortium made up of Bombardier Transportation, Orascom Construction, and Arab Contractors for the 54 km monorail project, according to Al Shorouk. The credit facilities will be issued in two tranches, the first worth EUR 37.647 […]
Posted inReal Estate + Housing
SECON to invest EGP 5 bn in Egypt’s real estate over coming 3 years
The Saudi Egyptian Company for Development (SECON), formerly known as the Saudi Egyptian Construction Company, aims to expand its investment in Egypt’s real estate market to EGP 9 bn within three years, up from EGP 4 bn currently, CEO Mohamed El-Taher told Al Shorouk. The company, which aims to become one of the top five […]