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Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
We know you’ve missed them: The talking heads will be back on our screens after Eid El Fitr break — and so will our daily roundup of their shows.
Posted inSpeed Round
Is Egypt’s Electricity Ministry on a privatization drive?
Is the Electricity Ministry on a privatization drive? The Egyptian Electricity Holding Company (EEHC) could sell stakes in its electricity production and distribution subsidiaries to the private sector under an asset management program, former Egyptera head Hafez Salmawy said. The program, which Salmawy says is already in place, seeks to overhaul the electricity sector to […]
Posted inSpeed Round
EGAS to auction up to 11 gas exploration blocks in Egypt’s West Med by 1Q2020
EGAS plans fresh WestMed gas exploration tender: The Egyptian Natural Gas Holding Company (EGAS) plans to put some 11 natural gas exploration blocks in the western Mediterranean up for auction by 1Q2020, a source from the company told Al Shorouk. EGAS has finalized studies and seismic scans, and is waiting for the Oil Ministry to […]
Posted inSpeed Round
Egypt’s FRA wraps up Insurance Act consultations
LEGISLATION WATCH- Regulator wraps up Insurance Act consultations: The Financial Regulatory Authority (FRA) has wrapped up several rounds of consultations on the new Insurance Act, FRA head Mohamed Omran said, according to a statement (pdf). There was no mention of the outcome of the sessions, which saw participation from industry stakeholders including representatives from the […]
Posted inSpeed Round
Egypt’s House Budgeting Committee approves EGP 7.3 bn in FY2019-2020 additions
BUDGET WATCH- House committee loosens state purse strings with EGP 7.3 bn of additional allocations in FY2019-2020 state budget: The House of Representatives’ Planning and Budgeting Committee has allocated an additional EGP 7.3 bn across a number of sectors in FY2019-2020, committee sources said. The Health Ministry will receive an extra EGP 2 bn for […]
Posted inSpeed Round
Mintrics announces USD 500k investment round earmarked for US expansion
STARTUP WATCH- Egyptian social video analytics platform Mintrics is looking to raise USD 500k in an investment round, with which it plans to set up a sales office in the US, growth hacker Adel Heikal tells Ventureburn. Hawaii-based accelerator Blue Startups is among the investors participating in the funding round, which is likely to conclude […]
Posted inSpeed Round
Egyptian fintech startup Vapulus launches new zero-fee online payment portal
STARTUP WATCH- Vapulus launches the world’s first zero-fee online payment portal: Egyptian fintech startup Vapulus has launched the commercial operations of the world’s first zero-fee online payment portal, according to an emailed statement (pdf). More than 450 MENA companies and e-commerce platforms have used the platform since the pilot was launched almost a year ago. […]
Posted inSpeed Round
Egypt’s cabinet approves USD 200 mn SMEs loan
CABINET WATCH- Cabinet approves USD 200 mn World Bank SMEs loan: The Madbouly Cabinet approved in yesterday’s meeting the USD 200 mn loan from the World Bank to support SMEs and entrepreneurs signed earlier this month, according to a statement. Both sides agreed on the loan during the IMF and World Bank Spring Meetings in […]
Posted inSpeed Round
Abraaj founder Arif Naqvi freed from prison after paying USD 19 mn conditional bail
Abraaj founder Arif Naqvi freed from prison after paying USD 19 mn conditional bail: Private equity firm Abraaj founder Arif Naqvi was released from prison in the UK on Tuesday evening, after his record GBP 15 mn (USD 19 mn) bail payment was paid, Bloomberg reports. Naqvi will now effectively be under house arrest in […]