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Egypt orders upward of 20 Russian fighter jets in USD 2 bn agreement: Egyptian officials have signed a USD 2 bn agreement with the Russians to purchase over 20 Su-35 fighter jets, the Kommersant business daily quoted two defense industry sources as saying. The agreement will see Russia supply the jets, alongside aircraft weaponry, in […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Factoring could provide the solution to close the SME funding gap- Afreximbank
The second-oldest profession could help SMEs grow in Egypt and Africa: Factoring could be a viable and sustainable solution to address the funding gap for SMEs in Africa and help them grow, the African Export-Import Bank (Afreximbank) hasstated. Africa accounted for less than 1% of global factoring volumes in 2017, although it has shown rapid […]
Posted inUncategorized
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Posted inTHE MACRO PICTURE
Investor sentiment is back in “exuberance” territory, but this could be worrisome
Investors are once again bullish on emerging markets, but the return of exuberance could be a “worrisome milestone,” Colby Smith writes for the Financial Times. Analysts at EPFR Global have reported 10 consecutive weeks of large inflows into hard currency emerging market debt. And although appetite for local currency-denominated fixed-income assets has waned, interest in […]
Posted inEGYPT IN THE NEWS
Trella planning to scale up “step-by-step”
It’s another painfully slow news day in the international press as far as Egypt is concerned. African startup news site Disrupt Africa is running an interview with Egyptian trucking startup Trella, which raised USD 600K in pre-seed funding with the help of our friends at Algebra Ventures. They’re not planning any major regional expansion any […]
Posted inON THE FRONT PAGES
El Sisi visits key sites in Aswan with Arab-African Youth Platform guests
El Sisi visits key sites in Aswan with Arab-African Youth Forum guests: President Abdel Fattah El Sisi’s visits to major ancient Egyptian sites in Aswan with officials and visitors of the Arab and African Youth Platform that kicked off earlier this week topped the front pages of all three state-owned newspapers this morning (Al Ahram […]
Posted inWorth reading
ICO regulations coming to MENA, courtesy of the Emiratis
Regs for initial coin offerings are coming to MENA, courtesy of the Emiratis: Safe, investor friendly initial coin offerings (ICOs) are set to debut in the Middle East and North Africa as the UAE takes the lead, placing itself among the first in the world to step in and regulate ICOs, Matt Smith writes for […]
Posted inDiplomacy + Foreign Trade
MoU on closer Egyptian-Omani investment cooperation
The General Authority for Freezones and Investments signed yesterday an MoU with Oman’s Investment Promotion and Export Development Authority for increasing bilateral cooperation and investment, according to an Investment Ministry statement (pdf). The signing came on the sidelines of a meeting between Investment Minister Sahar Nasr and Omani investors. We noted in January talks regarding […]
Posted inDiplomacy + Foreign Trade
FEI delegation visits Zambia to explore investment opportunities
A Federation of Egyptian Industries delegation led by Chairman of the African Cooperation Committee Sherif El Gabaly is visiting Zambia to explore investment opportunities, the Lusaka Times reports. Gabaly reportedly called Zambia a “priority country for investment,” and voiced intentions to bring high quality Egyptian products to the Zambian market.
Posted inInfrastructure
Thyssenkrupp wins EPC contract to build new Ain Sokhna fertilizer complex
Thyssenkrupp has won a major engineering, procurement and construction (EPC) contract from Egyptian chemical and fertilizer manufacturer El Nasr Company for Intermediate Chemicals (NCIC) to build a new fertilizer complex in Ain Sokhna, it announced in astatement. Thyssenkrupp said that the contract’s value is in the “mid-three-digit mn euro range”. The new complex is expected […]