Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
IPO WATCH- Fawry sets IPO price at EGP 6.46 / share as private placement gets underway: Egyptian e-payments giant Fawry has set its share price for the upcoming IPO at EGP 6.46/share for its private placement and retail offering, a discount from its EGP 6.9 fair value price, the company said in a statement (pdf). […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Sidpec stake sale advisor to be announced “in days”
IPO WATCH- Sidpec stake sale advisor to be named “in days”: NI Capital will announce “in days” the winning bid out of six offers it received from investment banks to advise on the planned sale of an additional 23% stake in Sidi Kerir Petrochemicals (Sidpec) as part of the state privatization program, government sources told […]
Posted inSpeed Round
East Med states reiterate need for energy cooperation during regional gas forum
East Med states reiterate need for energy cooperation at regional gas forum: Energy ministers from eastern Mediterranean states vowed to increase cooperation over developing the region’s gas reserves following talks in Cairo last week. Ministers from Egypt, Israel, Cyprus, Greece, Italy, Jordan and the Palestinian Authority met as part of the East Mediterranean Gas Forum, […]
Posted inSpeed Round
Egypt targets USD 5 bn auto sector FDI over two years
EXCLUSIVE- Gov’t targeting USD 5 bn auto sector FDI over two years: The government is hoping to attract USD 5 bn of foreign direct investment into the automotive sector within the next two years, two government sources told Enterprise. The target is part of a plan to develop the sector by growing local car assembly […]
Posted inSpeed Round
British Airways resumes flights to Cairo after one-week suspension
British Airways resumed their flights to Cairo on Friday as scheduled after having suspended them a week ago “as a security precaution,” a spokeswoman said in an email seen by Reuters. “Following a thorough assessment of the security arrangements, we are pleased that our service to and from Cairo will resume from Friday 26 July.” […]
Posted inSpeed Round
EGX considers listing African bond ETF
The EGX could list an exchange-trade fund containing sovereign bonds issued by eight African countries under plans put forward by the African Development Bank (AfDB), the bank said in a statement. The EGX and AfDB last week organized an investor roundtable to discuss listing the African Domestic Bond Fund — which tracks the Bloomberg African […]
Posted inSpeed Round
Egyptian startups Forasna, Taskty among finalists at MIT innovation challenge
STARTUP WATCH- Egyptian startups Forasna, Taskty among finalists at MIT innovation challenge: The MIT Inclusive Innovation Challenge (IIC) has selected Cairo-based blue collar jobs platform Forasna and home services online marketplace Taskty as regional finalists, reports Menabytes. The two were the only MENA startups to be selected alongside 60 “exemplary inclusive innovation organizations” from around […]
Posted inSpeed Round
Egypt moves up 10 places to rank #92 in 2019 Global Innovation Index
Egypt moved up 10 places to rank #92 in the 2019 Global Innovation Index (pdf), while its position remains unchanged at #17 among North African/West Asian countries. The report notes that Egypt’s strengths include knowledge-intensive employment, the state of cluster development, knowledge impact (particularly when it comes to the percentage growth of PPP and GDP […]
Posted inSpeed Round
Egypt’s SCZone revenue hits new stride
SCZone revenues hits new record: Revenues from the Suez Canal Economic Zone recorded EGP 3.7 bn in FY2018-2019, the highest recorded level since the zone’s inauguration, Suez Canal Authority Chairman Mohab Mamish said. Net profit for the fiscal year, meanwhile, came at EGP 2.2, up 35% from EGP 1.6 bn in FY2017-2018.
Posted inSpeed Round
Service revenues from Vodafone Group’s Egyptian operations rise 26.2% y-o-y
Service revenues from Vodafone Group’s Egyptian operations rose 26.2% y-o-y in the first quarter of the company’s current fiscal year, which runs between 1 April and 30 June, “supported by growing data usage,” according to the group’s financials (pdf). Organic growth for the period was 13.6%. Revenues for the period came at EUR 3.13 bn […]