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M&A Watch- Raya founder mulling two proposals to finance MTO: Raya Holding founder Medhat Khalil is considering two separate proposals from a local and international bank for an EGP 700-800 mn financing package to fund his take-Raya-private bid, Raya CFO Hossam Hussein said, according to Al Mal. We had reported last month that Khalil had […]
Author Archives: enterpriseam admin
Posted inSpeed Round
House approves innovation fund, police support fund
LEGISLATION WATCH- House gives initial approval to draft laws on innovation, support for cops: The House of Representatives gave initial approval yesterday to a draft law that would create an innovation fund to support cutting-edge research, AMAY reports. The House also nodded to a draft law that would establish a fund to support members of […]
Posted inSpeed Round
Egypt ranks 135 out of 149 countries in WEF’s Global Gender Gap Report
Egypt ranked 135 out of 149 countries in the World Economic Forum’s Global Gender Gap Report for 2018 (pdf), after having ranked 134 out of 144 countries in last year’s report. Iceland, Norway, Sweden, and Finland occupy the top four positions, while Syria, Iraq, Pakistan, and Yemen hold the bottom four. Egypt is one of […]
Posted inSpeed Round
Tamer Azer joins Sawari Ventures
MOVES- Sawari Ventures has tapped Tamer Azer to join its team as a principal, the company announced in a press release. An entrepreneur and business policymaker, Azer joins Sawari Ventures from A15. The appointment comes after Sawari reached first close on its USD 35 mn North Africa fund, which will target investment in knowledge- and […]
Posted inSpeed Round
Egypt gets new military intelligence chief
MOVES- Egypt has appointed Khaled Megawer as the country’s new head of military intelligence, security sources told Reuters. Megawer, who previously served as deputy head, will replace Mohamed El-Shahat.
Posted inSpeed Round
Careem and Dubai government to launch white taxi company in Dubai
Careem strikes a partnership with Dubai to manage white taxis: Ride-hailing company Careem is launching a company with Dubai’s Road and Transport Authority (RTA) that will manage the e-hailing systems and online payment for all of the emirate’s 11,000 white taxis, FT reported. The agreement will be the world’s first partnership between a government regulator […]
Posted inSpeed Round
Correction- Ruling on pharma corruption case
CORRECTION- We mistakenly said in yesterday’s issue that the Cairo Economic Court has postponed to 19 February the issuance of its verdict on an appeal by pharma distributors of an antitrust fine. The court actually met as scheduled on 19 December and set 19 February as the date on which it would hand down its […]
Posted inUncategorized
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Posted inUp Next
What we’re tracking this week and beyond
NBE to roll out Meeza cards early next month: The National Bank of Egypt is expecting to roll out national “Meeza” debit cards to both banked and unbanked customers by early January, with an eye on issuing 1 mn cards throughout 2019, the bank’s head of retail Alaa Farouk said, according to Al Mal. The […]
Posted inImage of the Day
NASA’s Juno spacecraft sends home astonishing pictures of Jupiter
NASA’s Juno spacecraft is sending home staggering pictures of Jupiter that we believe would make really nice wall art if printed. Orbiting the gas giant since June 2016, Juno has been instrumental in collecting data on the planet at the closest possible range, revealing cyclones swirling around the planet’s poles, variation in its magnetic field, […]