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It’s shaping up to be a rather busy week, ladies and gentlemen. The biggest news about Egypt will be made this week in … Bahrain. That’s where the Trump administration is set to unveil the first stage of what it is touting as the most “ambitious” Mideast peace plan in years. The idea behind the […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
El Sisi meets Mozambican president, Enppi signs USD 500 mn contract for Saudi project
The opening ceremony of Afcon 2019 dominated the airwaves on Saturday for the second night in a row (in case you haven’t heard yet, Egypt won 1-0 against Zimbabwe.) President Abdel Fattah El Sisi met with his Mozambican counterpart President Filipe Nyusi in Cairo yesterday to discuss strengthening economic ties, Al Hayah Al Youm’s Lobna […]
Posted inSpeed Round
Egypt to receive USD 9 bn under Trump administration’s Mideast ‘Peace to Prosperity’ economic plan
Egypt to receive USD 9 bn under Trump administration’s Mideast ‘Peace to Prosperity’ economic plan: Egypt will receive as much as USD 9.1 bn worth of investment as part of the Trump Administration’s USD 50 bn Mideast economic plan, according to documents released by the White House (pdf) ahead of this week’s US-led workshop in […]
Posted inSpeed Round
Egypt to sell 10-15% stake in e-Finance in 4Q2019 IPO
IPO WATCH- Gov’t to offer 10-15% stake in e-Finance in 4Q2019: The government is planning to sell 10-15% of its financial technology company e-Finance in an IPO during 4Q2019 as part of the second wave of the state privatization program, sources close to the matter tell the local press. The IPO will take place through […]
Posted inSpeed Round
Swvl raises USD 42 mn, largest ever funding round for an Egyptian startup
STARTUP WATCH- Swvl raises USD 42 mn in the largest-ever funding round for an Egyptian startup: Egypt’s Swvl has raised USD 42 mn in Series B2 funding, the mass transportation startup said in a statement to Menabytes. The round was co-led by Swedish VC Vostok Ventures and Dubai-based BECO Capital, with Egypt’s Sawari Ventures, China’s […]
Posted inSpeed Round
Gov’t agrees to start incentives for car manufacturers that use at least 45% local content
EXCLUSIVE- Cabinet agrees in principle on incentives for car manufacturers that use at least 45% local content: The cabinet has agreed in principle to a proposal from the finance and trade ministers on incentives for car manufacturers that use at least 45% local content, two government sources told Enterprise. Cabinet will finalize the incentives and […]
Posted inSpeed Round
Egypt to dedicate EGP 6 bn annually in the budget for exports subsidies
Government to dedicate EGP 6 bn per year to export subsidies: The government will set aside EGP 6 bn annually in its budget for export subsidies as of FY2019-2020, Vice Minister of Finance Ahmed Kouchouk said, according to a Trade and Industry Ministry statement. The new program will allow increasing subsidies in tandem with increasing […]
Posted inSpeed Round
Egypt’s cabinet approves establishing new central clearing company
Cabinet econ group green lights new central clearing company for debt: The Madbouly Cabinet’s economic group approved on Friday establishing a new central clearing and depository company, according to a statement. The new entity is expected to handle all the clearing and registry of government debt issuances, as well as collect taxes from these issuances. […]
Posted inSpeed Round
House to vote on commercial rents after the summer recess
LEGISLATION WATCH- House to vote on commercial rent law during next legislative session: The House of Representatives is expected to vote on proposed amendments to the commercial “old rent” law after the summer recess, parliamentary sources told the local press. A House committee approved earlier this month a proposed amendment that would see commercial tenants […]