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Egypt to pick chief executive of SWF within weeks: The search committee for a chief executive to run the planned EGP 200 bn sovereign wealth fund has made a shortlist of four candidates and sent it to the prime minister’s office, according to a domestic press report citing Planning Minister Hala El Said. A hiring […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Enppi IPO back on the table
IPO WATCH- Enppi IPO is back on the table: The Madbouly government have given the green light proceed with the initial public offering of petroleum industry contractor Enppi and sees it going to market as early as 2H2019, the domestic press reports. The government plans to sell 25-30% of the company’s shares and will also […]
Posted inSpeed Round
Aton Resources to raise CAD 5 mn for Egypt explorations
Aton Resources to raise CAD 5 mn to fund gold exploration in Egypt: Canada’s Aton Resources is raising CAD 5 mn to fund exploration and development activities in its Abu Marawat concession in Egypt, the company said in a statement (pdf). Funds will be raised through a non-brokered private placement.
Posted inSpeed Round
MM Group increases stake in Kanawat Distribution to 72.6%
M&A WATCH- MM Group increases stake in Kanawat Distribution to 72.6%: MM Group for Industry and International Trade increased its stake in Kanawat Distribution to 72.6%up from 62.7%, according to a bourse filing (pdf). This follows a similar transaction in December 2018 which saw MM Group’s stake rise to 62.7% from 37.5% in a transaction […]
Posted inSpeed Round
Egyptian-American Enterprise Fund’s annual shareholders letter
Egyptian-American Enterprise Fund to announce first investments in education, agriculture: “We are excited about our pipeline and optimistic that EAEF will close a number of transactions this year. In the very near future, we will make our first investment in education and our first investment in agriculture. We continue to focus on sectors of high […]
Posted inSpeed Round
Chambers Global names top Egyptian arbitration litigators
Chambers Global names top Egyptian arbitration litigators: Chambers and Partners, one of the top global directories of legal practitioners, has named its top-ranked Egyptian arbitration firms and lawyers. Top arbitration litigators listed in this year’s ranking include: Karim A. Youssef (Youssef & Partners), Tarek Riad (Kosheri, Rashed & Riad), Ashraf Yehia (Ashraf Yehia), Girgis Abd […]
Posted inSpeed Round
EARNINGS WATCH- CI Capital net profits rise 5.1% in 4Q2018 y-o-y
EARNINGS WATCH- CI Capital’sconsolidated net profit after tax and minority interest rose 5.1% y-o-y in 4Q2018 to EGP 122.8 mn, the company said in its earnings release (pdf). Total revenues were up 6.1% y-o-y to EGP 671.4mn, up from EGP 632.7mn in 4Q2017.
Posted inSpeed Round
FinMin completes draft law on Egypt’s new tax procedures, electronic filing system
LEGISLATION WATCH- FinMin completes draft law on new tax procedures, electronic tax filing: The Finance Ministry has finished drafting proposed legislation on new unified tax procedures and an electronic tax filing system, according to a ministry statement. The ministry placed the draft up on its website to invite public comment in a process due to […]
Posted inSpeed Round
El Sisi in Munich for security forum, Egypt plans African reconstruction center
President Abdel Fattah El Sisi attended over the weekend the three-day Munich Security Conference, according to an Ittihadiya statement. Some 35 other world leaders were in the German city for the event, which kicked off Thursday and covered the future of arms control and defense policy cooperation as well as trade, climate change, and international […]
Posted inUncategorized
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