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Ebtikar for Financial Investment’s Vitas received a micro-financing license and will focus on projects that need up to EGP 100,000 of funding,parent company B Investments said in a bourse disclosure (pdf). B Investments established Ebtikar in June 2017 as a vehicle to invest in the non-banking financial services sector.
Author Archives: enterpriseam admin
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.65 | Sell 17.75 EGP / USD at CIB: Buy 17.65 | Sell 17.75 EGP / USD at NBE: Buy 17.65 | Sell 17.75 EGX30 (Sunday): 13,817 (+2.3%) Turnover: EGP 777 mn (3% below the 90-day average) EGX 30 year-to-date: +6.0% THE MARKET ON SUNDAY: The EGX30 ended […]
Posted inCALENDAR
28-29 January (Wednesday-Thursday): Banking Technology North Africa, Nile Ritz Carlton Hotel, Cairo, Egypt. 03 February (Sunday): Cairo court to hear lawsuit against Peugeot Citroen. 05 February (Tuesday): Egypt’s Emirates NBD PMI for January released. 07 February (Thursday): Egypt Building Materials Summit, Venue TBD, Cairo, Egypt 11-13 February (Monday-Wednesday): Egypt Petroleum Show, Egyptian International Exhibition Center, […]
Posted inWhat We're Tracking Today
What we’re tracking on 27 January 2019
We hope you all had a fantastic long weekend. Our next break doesn’t come until late April — and arrives just ahead of Ramadan. The upshot: It’s basically a weeklong break by the time you combine Sinai Liberation Day, Easter, Sham El Nessim and Labor Day. Then comes the Holy Month, Eid, summer vacation and […]
Posted inEnterprise+: Last Night’s Talk Shows
IMF’s positive remarks on Egypt lead discussions on the airwaves
Positive comments on Egypt from IMF boss Christine Lagarde led discussion on the airwaves last night. Vice Minister of Finance Ahmed Kouchouk said the support was expected as recent economic indicators have shown noticeable improvement (watch, runtime: 06:11). Hona Al Asema’s Reham Ibrahim also spoke with CI Capital Economist Hany Farahat who said thatthe remarks […]
Posted inSpeed Round
Egypt on IMF board’s agenda in coming weeks, Lagarde says
Egypt will be on the IMF board’s agenda in the coming weeks, Lagarde says: The IMF’s Executive Board will discuss its fourth review of Cairo’s economic reform program “in the coming weeks,” IMF Managing Director Christine Lagarde said in a statement on Friday. Lagarde, who lauded Egyptians for their “patience and commitment” to the reforms, […]
Posted inSpeed Round
SODIC calls off all-share acquisition of MNHD
M&A WATCH- SODIC calls off all-share acquisition of MNHD: Upmarket real estate developer SODIC will not submit a mandatory tender offer to acquire at least 51% of Madinet Nasr Housing and Development (MNHD) through a direct share swap, according to a regulatory filing (pdf) on Wednesday. B-Investments, a lead shareholder of MNHD, also put out […]
Posted inSpeed Round
Beltone en route to lose appeal against Egypt’s FRA
Advisory body reportedly recommends court turn down Beltone’s appeal of its suspension. The Administrative Court received yesterday a report from the Board of State Commissioners recommending it reject Beltone’s appeal a suspension handed to the investment bank’s IPO unit by the Financial Regulatory Authority, reports Al Shorouk. The report found that while Beltone’s lawyers correctly […]
Posted inSpeed Round
Nestlé ambition to invest in Egypt continues forward momentum
INVESTMENT WATCH- Nestlé inaugurates EGP 250 mn Bonjorno factory: Nestlé inaugurated on Thursday its EGP 250 mn (USD 14 mn) factory for its coffee brand Bonjorno, located in the 6th of October industrial zone, according to a statement (pdf) from the Swiss food giant. An export hub in the making: The 12,740 sqm facility, which […]