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EXCLUSIVE- Heliopolis Housing dropped from first wave of state privatization program: Heliopolis Company for Housing and Development has been dropped from the lineup of companies included in the first wave of the state privatization program, Public Enterprises Minister Hisham Tawfik tells Enterprise. This leaves Abu Qir Fertilizers and Alexandria Containers and Cargo Handling Company (ALCN) […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Egypt’s Pioneers Holding raises stake in Electro Cable Co. to 68.14%
M&A WATCH- Pioneers Holding raises stake in Electric Cable Co. to 68.14% after acquisition goes through: Pioneers Holding has, through three of its subsidiaries, raised its effective stake in Electric Cable Egypt to 68.14%, up from 48.5%, via a mandatory tender offer, Pioneers said in a regulatory filing (pdf). Three of Pioneers Holding’s subsidiaries, Summu […]
Posted inSpeed Round
Egypt’s nuclear authority compiles list of local companies to take part in Dabaa project
NPPA compiles list of local companies qualified to bid for work on Dabaa plant project: The Nuclear Power Plants Authority (NPPA) has compiled a draft list of 150 local companies that could participate in Rosatom’s planned Dabaa nuclear plant, NPPA head Amgad El Wakeel tells Al Mal. Among them are Hassan Allam Holding, Orascom Construction, […]
Posted inSpeed Round
OIH looks to extend deadline to acquire Egypt’s Nile Sugar to update valuation report
Orascom Investment Holding wants more time in which to close its acquisition of Nile Sugar as it seeks time to update its valuation report for the transaction based on Nile Sugar’s most recent financial results, OIH said in a bourse filing. The company’s shareholders won’t vote on the transaction in the upcoming meeting. OIH’s board […]
Posted inSpeed Round
Egypt’s cabinet to set up working group on attracting FDI
Madbouly instructs cabinet to set up a working group to attract investment: Prime Minister Moustafa Madbouly ordered the creation of a working group comprised of officials from the investment, trade, and finance ministries to look into ways of raising foreign direct investment into Egypt, according to a cabinet statement. What sectors does the government like? […]
Posted inSpeed Round
IDA places moratorium on land tenders for coming months, competition authority is going monopoly hunting aming importers
Industry wants to watch out for the next few months: The Industrial Development Authority (IDA) will not issue further land tenders for the remainder of this year, an IDA source told the local press. The pause is intended to give time for investors that have already purchased land from the authority to begin development. The […]
Posted inSpeed Round
Arafa Holding records consol net profit of USD 3 mn
EARNINGS WATCH- Arafa Holding recorded a consolidated net profit of USD 3 mn from February 2018 until the end of January 2019, down from USD 7 mn during the same period last year, the company said in an EGX disclosure (pdf). The company’s revenues dipped to USD 236.5 mn y-o-y, down from around USD 240 […]
Posted inSpeed Round
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** SHARE ENTERPRISE WITH A FRIEND ** Enterprise is available without charge — just visit our English or Arabic subscription page, depending on which edition you would like to receive. We give you just about everything you need to know about Egypt, in your inbox Sunday through Thursday before 7am CLT (8am for Arabic), and […]
Posted inSpotlight
Data science comes to Egypt
Studying data science at university is finally a thing in Egypt: Big Data, as our friend Dame Nemat “Minouche” Shafik, director of the London School of Economics told us, is “changing everything, from services, to marketing, to medicine.” With more data on every facet of our lives available than ever before, the chance to mine […]