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The Egyptian Electric Utility & Consumer Protection Regulatory Agency (Egyptera) is set to begin restructuring the electricity sector in December, unnamed officials told the local press. The process will involve relocating employees within companies in the sector, encouraging more private sector investments to meet increasing demand for energy, and imposing a stricter control on procurement […]
Author Archives: enterpriseam admin
Posted inInfrastructure
Contract for Lake Qaroun wastewater project to be awarded this month
The Holding Company for Water and Wastewater (HCWW) is currently in the process of selecting one out of four consulting companies bidding for a wastewater project at Lake Qaroun, according to the local press. The USD 300 mn project will be by the European Investment Bank, the European Bank for Reconstruction and Development, and the […]
Posted inInfrastructure
Egypt to tender 2k sqm of industrial land through online portal launching soon
The Industrial Development Authority (ITDA) will tender 2k sqm of industrial land through a new online portal to submit land allocation requests expected to be launched soon, ITDA head Magdy Ghazi said. The new portal, the so-called “land bank” will be the sole gateway handling industrial land tenders to streamline the allocation procedures, Ghazi said.
Posted inManufacturing
Manufacturers call on gov’t, Central Bank of Egypt to change i-Score credit information system
Manufacturers and investors are calling on the government and Central Bank of Egypt (CBE) to change the i-Score credit information system, which they say make it harder for companies to obtain financing, Al Shorouk reports. Businesses in financial trouble are currently designated as “distressed” for between five and 10 years, a period which manufacturers want […]
Posted inReal Estate + Housing
GV Investment looking to develop three land plots on Egypt’s north coast
GV Real Estate Development, a subsidiary of GV Investment Group, is mulling developing three land plots on Egypt’s north coast, said the company’s head of engineering Nahla El Ibiary. The company is currently in talks with private companies over the three plots in addition to a 70-feddan plot in Katameya.
Posted inTelecoms + ICT
NTRA releases mobile QoS report of Egypt’s four service operators
The National Telecommunications Regulatory Authority (NTRA) has released its first quality of service (QoS) report (pdf) on Egypt’s four mobile networks in two years, measuring their performance in delivering voice and data services in the country’s main cities throughout July 2019. The data — which was compiled through tens of thousands of test calls — […]
Posted inBanking + Finance
Egyptian market regulator grants Cairo Capital Securities short selling license
Cairo Capital Securities has joined the growing list of brokerage firms authorized by the Financial Regulatory Authority to short sell, CEO Ahmed Abu Hussein said, according to Al Mal. Shuaa Securities, Arqaam, EFG Hermes, CI Capital, the Arab African International Securities, Prime Holdings, HC Securities, and Premiere Securities have all recently acquired the license. Short […]
Posted inBanking + Finance
BdC looks to issue EGP 20 bn in corporate financing by end of 2020
State-owned Banque du Caire (BdC) plans to issue EGP 20 bn in corporate loans by the end of 2020, an unnamed bank official told Al Shorouk. The bank will reportedly lend to businesses working in the energy, petrochemicals, real estate, food and communications sectors. The bank expects to lend EGP 3 bn between now and […]
Posted inBanking + Finance
Al Yosr Group to borrow EGP 1.1 bn from three banks
Al Yosr Group has signed loan agreements with Banque du Caire (BdC), Suez Canal Bank (SCB) and the Industrial Development Bank (IDB) for a combined EGP 1.1 bn, sources told Al Shorouk. Al Yosr will borrow EGP 800 mn from BdC, EGP 200 mn from SCB and EGP 100 mn from the IDB to raise […]
Posted inBanking + Finance
Egypt’s Nasser Social Bank taps Prime Holding as advisor for restructuring plans
Nasser Social Bank has tapped Prime Holding as an advisor for its restructuring plans, the first phase of which will be funded by a USD 555k grant from the African Development Bank, CEO Sherif Farouk told the local press.