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In miscellany this morning: We’re more fascinated than we should be with the story of an isolated tribe killing a foreign missionary with bows and arrows. The killing took place on a remote island in the Andaman Sea controlled by India as the American tried to land and meet with members of a tribe with […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
Rumors that Egypt is exporting cats and dogs cause a ruckus on the airwaves
News circulating over the weekend that Egypt is exporting stray cats and dogs caused a ruckus on the airwaves last night. For context: House Rep. Maria Azer had proposed several weeks ago that Egypt should export stray animals to Asian countries where these animals are consumed as food. A spokesman from the Agriculture Ministry’s General […]
Posted inSpeed Round
Egypt banks will see their taxes rise as a result of separately accounting for income from holdings of state debt
Banks will pay significantly more taxes under gov’t proposal that they account separately for their investments in state debt: The state treasury expects to net as much as EGP 10 bn in additional taxes from a proposed change to how banks account for their income from government debt, unnamed sources in the Finance Ministry told […]
Posted inSpeed Round
Egypt is on track to record a 2% primary budget surplus in FY2018-19, says Maait
Egypt is on track to record a 2% primary budget surplus in FY2018-19 as state revenues rose more than 35% y-o-y during the first quarter of the fiscal year, outpacing nearly 29% growth in state expenditures in the same period, Finance Minister Mohamed Maait said in a statement (pdf). Tax collection rose nearly 40% in […]
Posted inSpeed Round
Egypt welfare recipients will receive payouts for a maximum of two children starting in January 2019
Smart policy: Giving incentives for birth control: China’s (flagging?) two-child policy could never fly in Egypt for cultural and religious reasons, so the government is turning to economic incentives: Starting January 2019, families enrolled in the Takaful and Karama welfare programs will be able to claim cash benefits for a maximum of just two children, […]
Posted inSpeed Round
Egypt to hold off on Eastern Tobacco stake sale until the market stabilizes, says EFG
IPO WATCH - No Eastern Tobacco stake sale until the market stabilizes, says EFG: The state will not proceed with the sale of an additional 4.5% stake in the Eastern Tobacco Company on the EGX until the market stabilizes, EFG Hermes’ Investment Banking Co-Head Moustafa Gad told Masrawy. Gad acknowledged that the company’s share price […]
Posted inSpeed Round
Giza Systems to list 35% of shares next year as it looks to Africa expansion
IPO WATCH- Giza Systems to list 35% of shares next year as it looks to Africa expansion: B Investments portfolio company Giza Systems is planning to list 35% of its shares on the EGX at the end of 2019, an unnamed source told the domestic press on Thursday. The move would see B Investments partially […]
Posted inSpeed Round
Swvl valued at USD 100 mn?
INVESTMENT WATCH- Swvl valued at USD 100 mn in series ‘B’ funding round? Mass transit app Swvl raised “tens of mns of USD” in Series ‘B’ funding from new and existing investors, CEO and co-founder Mostafa Kandil told Reuters on Thursday. While he did not disclose size of the round or name investors, Kandil said […]
Posted inSpeed Round
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