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Sarwa just got Egypt’s first sukuk issuer license: Consumer- and structured-finance player Sarwa Capital has been granted the country’s first sukuk issuer license by the Financial Regulatory Authority (FRA), the company said in a statement to the bourse (pdf). Sarwa now has the green light to issue the sharia-compliant bonds through its sukuk arm, Sarwa […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Egypt’s new fuel prices are beginning to show their impact on food
The impact of higher fuel prices is beginning to touch food. Exhibit A: The Supply Ministry is studying raising the profit margin of subsidized bread bakeries to offset rising costs incurred by the latest fuel subsidy cuts, Al Mal cited an anonymous source as saying. The government could increase bakers’ profit margin per sack of […]
Posted inSpeed Round
Saudi German Hospital to invest tens of bns in Egypt as part of 15-year plan
INVESTMENT WATCH- Saudi German Hospital to invest tens of bns in Egypt as part of 15-year plan: The Saudi German Hospitals Group (SGH) is looking to invest EGP 40-50 bn in Egypt within the next 15 years to expand its business in the country, Vice Chairman Makarem Batterjee said. In the near future, the group […]
Posted inSpeed Round
Egypt’s Qalaa to invest EGP 400 mn in portfolio company Dina Farms
INVESTMENT WATCH- Qalaa to invest EGP 400 mn in portfolio company Dina Farms: Qalaa Holdings is planning to invest upwards of EGP 400 mn within three years in its dairy and fresh milk operation Dina Farms, Chairman Ahmed Heikal said at a press conference, according to Reuters’ Arabic service. Qalaa will add some 3k feddans […]
Posted inSpeed Round
Egypt’s updated investment map includes 2000 new projects
Investment Minister Sahar Nasr unveiled the second phase of her ministry’s investment map yesterday, compiling an interactive directory of 2,000 new projects up for grabs across the country, according to a Cabinet statement. The projects include different types and sizes, including freezones, tech-dedicated, manufacturing complexes, national megaprojects, and SMEs. The megaprojects on the plan’s priority […]
Posted inSpeed Round
Egypt’s parliament passes amended NGOs Act, Social Security and Pensions Act in final rush before summer
LEGISLATION WATCH- The House of Representatives’ general assembly officially passed the amended NGOs Act yesterday, which will now replace the contentious original version that was issued in 2017, according to Masrawy. The new law grants NGOs and other civil society organizations a grace period of one year to comply with the law, after which violators […]
Posted inSpeed Round
EDA gets sharper teeth under newly passed legislation
LEGISLATION WATCH- EDA’s mandate expands under new pharma legislation: The Health Ministry will transfer regulatory powers over the pharma market to the Egyptian Drug Authority (EDA) under legislation passed by the House last week, the local press reported. The EDA will now be in charge of registering new products, maintaining production standards, and setting customs […]
Posted inSpeed Round
Egypt needs to invest additional USD 30 bn into electrical grid by 2023 -Apicorp
Egypt needs to invest USD 30 bn into electrical grid by 2023 -Apicorp: Egypt needs to invest an additional USD 20 bn in power generation and USD 10 bn in transmission and distribution (T&D)to increase capacity to 63 GW by 2023, the Arab Petroleum Investments Corporation (Apicorp) says in its newly-released MENA Power Investment Outlook […]
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MENA startups raised USD 471 mn in 1H2019, Egypt second largest recipient
MENA startups have raised USD 471 mn during the first half of the year, surging 66% y-o-y, according to Magnitt’s MENA Venture Investment Report 1H2019 update. A record of 238 funding agreements were inked, up 28% from 1H2018. The top two funding rounds were UAE-based Emerging Markets Property Group (EMPG) and Yellow Door Energy, which […]
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Maridive reports consolidated loss of USD 3.7 mn in 1Q2019
EARNINGS WATCH- Maridive & Oil Services has reported a consolidated net loss of USD 3.77 mn in 1Q2019, compared to a USD 7 mn profit during the same period the previous year, according to the company’s financial statement (pdf). ٌRevenues fell 27% to USD 39.1 mn during the quarter, down from USD 54.8 mn the […]