Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
Gov’t talks railways, renewable energy with Siemens during ministers’ second day in Berlin: Siemens looks like it will be doing significant new business in Egypt. Already a favourite of the Sisi administration after the company’s work to rapidly build-out capacity in Egypt’s electricity generation system during a period of rolling blackouts, Siemens now looks set […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Elmenus raises undisclosed Series B investment from Foodora co-founder
Cairo-based food delivery startup Elmenus has received funding from Foodora co-founder and ex-VP of Delivery Hero Julian Dames, the company said in a statement (pdf) without disclosing the size of the investment. The funding is part of the company’s ongoing series B round. Dames is also joining the Elmenus’ board of advisors. Elmenus raised USD […]
Posted inSpeed Round
Breadfast raises seven-figure series A funding, joins Y Combinator accelerator program
STARTUP WATCH- Breadfast raises seven-figure series A funding, joins Y Combinator accelerator program: Cairo-based bakery startup Breadfast has raised a seven-figure sum in its series A round, the company told Menabytes, without revealing the size of the investment. The funding was led by California-based VC firm 500 Startups and Egyptian investor Mohamed El Sewedy, COO […]
Posted inSpeed Round
UAE authorities greenlight Uber-Careem merger, Egypt’s ECA yet to decide
UAE authorities greenlight Uber-Careem merger: Emirati Minister of Economy Sultan bin Saeed Al Mansouri has given “unconditional approval” to Uber’s planned USD 3.1 bn acquisition of Careem, Uber announced yesterday (pdf), making it the first jurisdiction to sign off on the transaction.“The integration of expertise, competencies and modern technologies ultimately serve[s] the interests of consumers,” […]
Posted inSpeed Round
Egypt to sign second tranche of trade financing agreement with ITFC in July
EXCLUSIVE- Egypt to sign second USD 1.5 bn tranche of trade financing agreement with ITFC in July: The Egyptian General Petroleum Corporation (EGPC) and General Authority for Supply Commodities (GASC) are expected to sign contracts for the USD 1.5 bn second tranche of a USD 3 bn trade finance facility with the International Islamic Trade […]
Posted inSpeed Round
Administrative court overturns FRA decision against Acumen on Egypt Gas shares
DISPUTE WATCH- Administrative court overturns regulator’s decision to ban Acumen from buying Egypt Gas shares: The Council of State’s (Maglis El Dawla) administrative court has overturned the Financial Regulatory Authority’s (FRA) decision to ban Acumen from buying Egypt Gas shares for three months, the local press reported. The court is also ordering the FRA to […]
Posted inSpeed Round
Egyptian police arrest eight accused of masterminding anti-gov’t plot
Police arrest eight accused of masterminding anti-gov’t plot: Police arrested yesterday eight individuals for allegedly conspiring with the Ikhwan on a plot to bring down the government on the anniversary of 30 June, the Interior Ministry said in a statement broadcast on national television (watch, runtime: 2:02). The ministry also said it has targeted 19 […]
Posted inSpeed Round
Ahmed Badreldin appointed non-executive chairman of Cleopatra Hospital Group board of directors
MOVES- Cleopatra Hospital Group has appointed Ahmed Badreldin (LinkedIn) as non-executive chairman of its board of directors representing CHG majority shareholder Care Healthcare Ltd, according to a company statement (pdf). Badreldin was previously vice chairman of CHG. A 10-year partner at Abraaj, Badreldin led Care Healthcare’s initial acquisition of CHG in 2014 and quarterbacked subsequent […]
Posted inSpeed Round
Khaled Rashed named CEO and vice chairman at Sameem Capital
MOVES- Prime Holding has appointed Khaled Rashed (LinkedIn) as CEO and vice-chairman of Sameem Capital Activist Investor and Mohamed Maher (LinkedIn) as the executive vice chairman, the local press reported.
Posted inSpeed Round
Americana Egypt taps Harun Sadiki as its new non-executive chairman
MOVES- The Egyptian International Tourism Projects Company (Americana Egypt) has tapped Harun Sadiki as its new non-executive chairman, the company said in an EGX disclosure (pdf).Sadiki succeeds Mohamed Farouk, who resigned from his post, according to a local press report.