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IPO WATCH- Banque du Caire IPO to be larger than previously expected? The CBE could offer more of Banque du Caire (BdC) for sale in an initial public offering than previously expected, according to statements made by CBE governor Tarek Amer at the Seamless North Africa Conference reported by Al Mal. He reportedly said that […]
Author Archives: enterpriseam admin
Posted inSpeed Round
OCI NV, ADNOC create JV combining their Middle East Fertilizers Businesses
M&A WATCH- Tie-up between OCI NV and ADNOC will create the largest fertilizer producer in MENA: Abu Dhabi National Oil Company (ADNOC) has agreed to merge its fertilizers business into OCI NV’s nitrogen fertilizers production platform in the Middle East and North Africa, creating the largest export-focused nitrogen fertilizer platform globally and the largest producer […]
Posted inSpeed Round
Ebtikar-led consortium completes acquisition of ODH’s 87% stake in Tamweel Group
M&A WATCH- Ebtikar-led consortium completes acquisition of ODH’s 87% stake in Tamweel Group: A consortium of funds including B Investments’ Ebtikar for Financial Investment, TCV1, and Acquire for Investment has completed its acquisition of Orascom Development Egypt (ODH)’s 87% stake in Tamweel Group, Ebtikar said in a statement (pdf). The funds have received all the […]
Posted inSpeed Round
GSK inaugurates new EGP 20 mn line in its Giza, Egypt factory
INVESTMENT WATCH- GSK inaugurates new EGP 20 mn line: GlaxoSmithKline (GSK) Consumer Healthcare inaugurated a EGP 20 mn production line yesterday, according to an Investment Ministry statement (pdf). The company will now have 11 production lines at its Giza facility, allowing it to produce 90 million boxes of the pain med and anti-inflammatory Voltaren Emulgel. […]
Posted inSpeed Round
Minimum for domestic content in Egypt-assembled cars is now back at 28%
Ministry explains decision to scrap former Trade Minister Nassar’s car assembly policy: Trade and Industry Minister Amr Nassar’s decision to scrap of former minister Tarek Kabil’s policy to increase the percentage of local content in domestically assembled cars is meant to give assemblers breathing room until a new set of sector incentives take hold, the […]
Posted inSpeed Round
EFG Hermes tops frontier market rankings in 2019 Extel Survey
EFG Hermes once again tops frontier market rankings, is second in MENA, in 2019 Extel Survey: EFG Hermes has been voted number one frontier market brokerage firm for the second year running and remains the second-highest ranked brokerage firm in the MENA region, according to the 2019 Extel ranking of research provided by brokerage houses. […]
Posted inSpeed Round
Sherif Ayoub appointed CFO at Apicorp
MOVES- Sherif Ayoub (LinkedIn) has been appointed chief financial officer of the Arab Petroleum Investments Corporation (Apicorp), the company said in a statement (pdf). Ayoub, an Egyptian, joined Apicorp from the Islamic Development Bank (ISDB), where he oversaw policy priorities and operations related to treasury, investment, financial control, budget, performance and risk management. He previously […]
Posted inSpeed Round
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Posted inUncategorized
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Posted inEGYPT IN THE NEWS
Former president Mohamed Morsi dies during trial
The death of Mohamed Morsi is dominating the headlines in the foreign press this morning: We have the full breakdown in this morning’s Speed Round, above. Elsewhere: the Chinese charge d’affaires in Cairo is talking-up Huawei’s ability to help Egypt develop its tech industry, Xinhua says.