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INVESTMENT WATCH- Al-Futtaim Real Estate aims to grow its total investment in Egypt by as much as 25% during 2019, Managing Director Ashraf Ezzeldin tells Al Mal. The company will begin work next year on the Aura, Oriana Villas and Festival Three residential projects, which are expected to be complete within three years. Al Futtaim […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Acumen aims to establish EGP 100 mn private equity fund
INVESTMENT WATCH- Acumen Holding will is looking to raise an EGP 100 mn education- and health-focused private equity fund in 2Q2019, Chairperson Rana Adawi tells Al Mal. Acumen will be raising funds from limited partners in the local and Gulf markets, but will be the primary contributor of capital as general partner, Adawi said. Other […]
Posted inSpeed Round
EFG Hermes has four M&A transactions, two IPOs in pipeline
M&A WATCH- EFG Hermes has four M&A in its pipeline for execution in 1H2019 and will expand its debt capital markets activities in the new year, Co-Head of Investment Banking Mostafa Gad tells Reuters. Gad suggested that one of the M&A transactions is in the Saudi healthcare sector. EFG is working on two equity raisings […]
Posted inSpeed Round
FRA sets framework for short-term bonds, instruments
REGULATION WATCH- Aiming to create a market for corporate paper in Egypt, FRA sets framework for short-term bonds, debt instruments: The Financial Regulatory Authority (FRA) has defined the framework and regulations governing short-term debt instruments, including bonds, sukuks, and other securities with maturities of less than two years, FRA boss Mohamed Omran said, according to […]
Posted inSpeed Round
Egyptian Exchange to roll out short-selling in first quarter of 2019
REGULATION WATCH- The EGX is looking to roll out short-selling as early as 1Q2019, EGX boss Mohamed Farid is quoted as saying by Youm7. Separately, regulations allowing brokerage firms to act as market makers will be announced in a few days, Farid added. Both tools are part of a four-year strategy to develop Egypt’s non-banking […]
Posted inSpeed Round
EMRA to hand over gold exploration concessions after Mineral Resources Act is amended
EMRA to hand over concessions from 2017 gold tender after Mineral Resources Act is amended: The Egyptian Mineral Resources Authority is holding off on handing over the five concessions awarded in its 2017 gold exploration tender until after the amendments to the Mineral Resources Act are finalized and passed, an EMRA source tells Amwal Al […]
Posted inSpeed Round
EOS to introduce a new standard for “sustainable procurement” in Egypt
REGULATION WATCH- EOS to introduce a new standard for “sustainable procurement” in Egypt: The Trade Ministry’s Organization for Standardization and Quality (EOS) is set to introduce a new standard for businesses that want to move toward “sustainable procurement,” EOS head Ashraf Afifi said, according to Ahram Gate. “Sustainable procurement,” involves considering the environmental, economic, and […]
Posted inSpeed Round
Enterprise is hiring
** WE’RE HIRING: We’re looking for smart, talented, and seasoned journalists and editors to join our team at Enterprise, which produces the newsletter you’re reading right now. We’re looking for people who can work on this product and help us launch exciting new stuff. Applicants should have serious English-language writing chops, a strong interest — […]
Posted inUncategorized
** SHARE ENTERPRISE WITH A FRIEND ** Enterprise is available without charge — just visit our English or Arabic subscription page, depending on which edition you would like to receive. We give you just about everything you need to know about Egypt, in your inbox Sunday through Thursday before 7am CLT (8am for Arabic), and […]
Posted inUp Next
What we’re tracking this week and beyond
Sir Suma is back in town: EBRD boss Sir Suma Chakrabarti launch the institution’s “Economic Inclusion Policy Dialogue in Egypt” on Thursday, 6 December. Sir Suma and EU ambassador Ivan Surkos are expected to sign MoU with Trade Minister Amr Nassar and Education Minister Tarek Shawki at the event. Startup-fest RiseUp kicks off on Friday […]