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Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
The World Bank’s latest MENA report occupies Egypt’s talking heads
Commentary on the World Bank’s latest MENA report stole the limelight on last night’s talk shows. We had the full breakdown of the findings in yesterday’s issue. World Bank numbers consistent with gov’t figures: Al Hayah Al Youm’s Khaled Abu Bakr pointed out that a big part of the report’s supported the Sisi administration’s core […]
Posted inSpeed Round
Abraaj LPs vote to give Actis the right to manage defunct firm’s sub-Saharan Africa, Asia funds
M&A WATCH- Limited partners in Abraaj funds have reportedly voted in favor of giving Actis the right to manage the defunct PE firm’s sub-Saharan Africa and Asia funds, unidentified sources tell Al Mal. The vote is not the final step in handing over the funds, which remains contingent on a few pending procedures, the sources […]
Posted inSpeed Round
FinMin looks to tax the living daylights out of social media ads, e-commerce players
EXCLUSIVE- FinMin looks to tax the living daylights out of social media ads, e-commerce players: The Finance Ministry is moving ahead with plans to impose a mix of VAT, income, stamp, and development taxes on social media and e-commerce platforms and internet search ads, a senior government official told Enterprise. The move will see the […]
Posted inSpeed Round
Egypt gov’t decides on tax reductions for SMEs
EXCLUSIVE- Preferential tax rates in the SMEs Act will give small businesses incentives to go legit, a government official with knowledge of the bill tells us. The plan would see businesses pay tax at a fixed rate over a three-year term regardless of revenue growth, according to the following bands: Revenues up to EGP 250k: […]
Posted inSpeed Round
Gov’t issues executive regulations for Egypt’s Consumer Protection Act
LEGISLATION WATCH- Retailers face new rules, requirements as gov’t issues executive regs for Consumer Protection Act: Prime Minister Moustafa Madbouly issued yesterday the executive regulations for the Consumer Protection Act, which grant the Consumer Protection Agency (CPA) the authority to impose price controls and censor advertisements, among other powers, according to a cabinet statement. You […]
Posted inSpeed Round
T-bill yields to continue falling in 2019- economists
Egypt could see its T-bill yields continue to fall in 2019 on the back of positive economic indicators, economists tell Reuters. Slowing inflation and money supply growth, as well as an expectedly tighter budget deficit over the past year were cited by economists. “I predict, by the end of the year, another fall of between […]
Posted inSpeed Round
IIF expects Egypt to see USD 12-15 bn of net foreign inflows in FY2018-19, says economy will grow 5.5% this year
Egypt will see net capital inflows of between USD 12 and USD 15 bn by the end of the current fiscal year, the Institute of International Finance (IIF) said in a research note (paywall). Inflows will remain positive through to the end of June as foreign investment into government treasuries has notably increased since January, […]
Posted inSpeed Round
IMF sings the praises of Egypt, stresses private sector development
An IMF delegation will arrive in May to give us our final report card: An International Monetary Fund (IMF) delegation will be in town this May to conduct its final review of the Sisi administration’s reform program ahead of the disbursement of the sixth and final tranche of a USD 12 bn extended funds facility, […]
Posted inSpeed Round
Energy prices to rise 20.6% this year- Beltone
Energy prices to rise 20.6% this year- Beltone: Energy prices will increase by 20.6% this year as the government pushes ahead with implementing the automatic fuel pricing mechanism, Beltone Financial said in a note on Monday. The investment bank anticipates that an increase of this magnitude will result in a 2.5-3.5% rise in inflation later […]