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Former Abraaj exec Mustafa Abdel-Wadood pleads guilty to racketeering, fraud charges: Former Abraaj managing partner Mustafa Abdel-Wadood has pleaded guilty to racketeering and securities-fraud charges at a court in New York, Reuters reports. Abdel-Wadood admitted to lying to investors at the behest of Abraaj founder Arif Naqvi, and agreed to cooperate with US authorities. “When […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Egyptian startup WideBot raises six-figure pre-series A funding
STARTUP WATCH- WideBot raises six-figure pre-series A funding: Egyptian chatbot building platform WideBot raised a six-figure sum in its pre-series A round, CEO Mohamed Nabil told Menabytes, without disclosing further details. The funding was led by Business Valley, a “regional angel group network.” According to Nabil, the funding will be directed towards developing the platform […]
Posted inSpeed Round
EFG Hermes tops brokerage league table for June
EFG Hermes topped the EGX’s brokerage league table for June with a market share of 24.7%, according to figures released by the EGX (pdf). CI Capital came in second with a 10.3% market share, followed by Beltone Financial (4.8%), Sigma Securities (4.5%), Arqaam Securities (4.3%), and Pioneers Securities (4.1%).
Posted inSpeed Round
Cabinet greenlights proposed legislation on new unified tax payment system
CABINET WATCH- The Madbouly Cabinet has greenlit proposed legislation that would introduce a series of reforms aimed at simplifying the tax payment process, according to a statement. The legislation would introduce a unified system for filing income tax, stamp duty and VAT, and pave the way for a new electronic billing and tax payment platform […]
Posted inSpeed Round
Amer Group, Porto Group begin procedures to receive USD 39.9 mn compensation from Antaradous
DISPUTE WATCH- Amer Group, Porto Group begin procedures to receive USD 39.9 mn compensation: Amer Group and Porto Group have hired Zulficar & Partners law firm to begin procedures to collect the USD 39.9 mn compensation from Antaradous for Touristic Development in Syria granted to them in an arbitration ruling in February, both companies said […]
Posted inSpeed Round
El Sisi appoints financial advisor
MOVES- El Sisi appoints new financial advisor: President Abdel Fattah El Sisi has appointed Mohamed Ibrahim Abdel Naby Nasr as his financial advisor, MENA reported.
Posted inSpeed Round
NBK Egypt gets new managing director
MOVES- NBK Egypt gets new managing director: The CBE has approved the appointment of Yasser El Tayeb (LinkedIn) as managing director of NBK Egypt, according to the local press.
Posted inUncategorized
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Posted inCOFFEE WITH ENTERPRISE
Coffee with Nestlé North East Africa Chairman and CEO Moataz El Hout
Coffee with Nestlé North East Africa Chairman and CEO Moataz El Hout: For over 100 years, Nestlé has been present in Egypt, giving it a unique insight among foreign companies operating here on the Egyptian economy and consumer. Some of its goods and products are household brand names, including Maggi, Pure Life, and Nescafé. Through […]
Posted inEGYPT IN THE NEWS
Egypt in the News on 1 July 2019
Decision to reinstate Amr Warda on Egypt’s national football team tops this morning’s coverage: Amr Warda has been recalled to Egypt’s Afcon squad just two days after being dismissed by the Egyptian Football Association (EFA) after accusations of [redacted] harassment. Warda released a video on Facebook, apologizing to family, friends and teammates (but notably not […]