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SMEs in Egypt contribute less than 25% of the country’s GDP, despite accounting for 80% of the country’s enterprises, according to BusinessDay Media. The economic contribution of SMEs in Egypt pales in comparison to those in Ghana: SMEs contribute 70% of the country’s GDP and account for 92% of Ghanaian businesses.
Author Archives: enterpriseam admin
Posted inON YOUR WAY OUT
The most impressive satellite photos of 2018
The most impressive satellite photos of 2018: Biblical floods, fires and earthquakes, Russian war games, and massive protests — these are just some of the most captivating images the AP caught by satellite cameras in 2018. Pictured above: Lava flowing from Hawaii’s Kilauea volcano.
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.87 | Sell 17.96 EGP / USD at CIB: Buy 17.89 | Sell 17.96 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Wednesday): 13,204 (+1.3%) Turnover: EGP 460 mn (42% below the 90-day average) EGX 30 year-to-date: +1.3% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Posted inCALENDAR
January: Flat6Labs will launch their 12th startup accelerator cycle. Early January: Government to release details about its international bond issuance. Early January: The National Bank of Egypt will roll out national “Meeza” debit cards to both banked and unbanked customers. 05 January (Saturday): An administrative court will hear Beltone Financial’s appeal against a six-month suspension […]
Posted inWhat We're Tracking Today
What we’re tracking on 02 January 2019
Happy New Year, friends, and welcome to 2019. We’re delighted to be back in your inboxes this morning after our end-of-year publication break the first half of this week. Don’t expect a rush of news before the week of 13 January. It’s prime vacation time this week and well into next ahead of Coptic Christmas […]
Posted inEnterprise+: Last Night’s Talk Shows
Egypt’s energy sector in the limelight on the airwaves
The performance of Egypt’s energy sector last year and its expected growth this year was the most popular topic on the airwaves last night. Output from the Zohr natural gas field is expected to reach 3 bcf/d this year, Oil Ministry spokesman Hamdy Abdel Aziz told Al Hayah Al Youm’s Lobna Assal. The development of […]
Posted inSpeed Round
Egypt to receive the fifth tranche of IMF facility this month
Egypt to receive the fifth tranche of IMF facility this month: The country will receive the next USD 2 bn tranche of the IMF’s extended fund facility this month, Ittihadiya said in a statement quoting Central Bank of Egypt Governor Tarek Amer’s note to President Abdel Fattah El Sisi. The tranche was expected by the […]
Posted inSpeed Round
Central Bank of Egypt leaves interest rates unchanged at final MPC meeting of 2018
The Central Bank of Egypt left key interest rates on hold last Thursday, citing global monetary policy tightening, trade wars and volatility in the oil market. The bank’s monetary policy committee left the overnight deposit and lending rates at 16.75% and 17.75%, respectively, and also left on hold its main operation and discount rates at […]
Posted inSpeed Round
Egypt’s GDP growth to hit 6% this year, driven by infrastructure projects, says Beltone
Egyptian economy to grow 6% this year, driven by infrastructure projects, says Beltone: The Egyptian economy is expected to grow at a 6% clip this year, with the expansion of GDP largely driven by major infrastructure projects, Beltone Financial’s sector head of financial services, Nancy Fahmy, told Bloomberg TV (watch, runtime: 5:26). According to Fahmy, […]