Author Archives: enterpriseam admin

Our central bank meets one day after the US Federal Reserve raised interest rates. The Fed raised its benchmark overnight lending rate a quarter of a point to a range of 2.00-2.25%, Reuters reports. It was the third time this year that the US has raised rates and came as the Fed “signalled it will […]

**#2 EXCLUSIVE- Don’t expect samurai or panda bonds until 2019: Egypt is unlikely to issue JPY- or CNY-denominated bonds (called “samurai” and “panda” bonds in the trade) this fiscal year, a senior government source told Enterprise. The source said that the procedures for the issuance won’t be completed before next June, saying that Egypt has […]

**#3 State-backed debit card “Meeza” to roll out nationwide by December: The central bank plans to roll out a national debit card, named “Meeza,” by December, the central bank’s Sub-Governor for Payment Systems and Business Technology Ayman Hussein said yesterday, Al Ahram reports. Pensioners will be among the first to access state benefits through the […]

**#4 LEGISLATION WATCH- FRA working on Consumer Credit Act: The Financial Regulatory Authority (FRA) is driving the drafting of a new law that would govern retail financing and consumer credit, FRA head Mohamed Omran told Amwal Al Ghad. He was not specific on what the law would entail, or how it would impact and regulate […]

LEGISLATION WATCH- E-commerce Act to be ready in 1H2019? Legislation to regulate e-commerce currently being drafted by the CIT Ministry will be ready to present to the Madbouly Cabinet in 1H2019, CIT Ministry official Mohamed Hegazy said at the E-commerce Summit in Egypt on Wednesday, according to Amwal Al Ghad. While Hegazy gave further details, […]

IFC has invested EGP 1.2 bn in Egypt’s e-commerce infrastructure, supporting state’s digital transformation: The International Finance Corporation (IFC) has invested some EGP 1.2 bn in upgrading Egypt’s e-commerce infrastructure and to support the state’s digitization drive, said IFC Country Manager for Egypt Walid Labadi, Al Mal reports. Labadi did break down the individual investments, […]

**#5 IPO WATCH- El Farasha revives plans for an IPO in 2H2019: El Farasha for Printing has revived plans to list on the EGX, according to statements attributed to Chairman Mohamed Khalil by Al Mal. The listing, originally planned for this year, is expected to take place in 2H2019, he said, adding that the company […]

IPO WATCH- E-finance to IPO in 2H2019: State-run electronic payments company e-finance is planning an IPO in 2H2019, Chairman and Managing Ibrahim Sarhan said in a press conference on Wednesday, according to Al Mal. The company, which manages the state’s electronic payments and financial infrastructure, is one of the 23 state companies that are listing […]

Don’t expect car prices to drop when tariffs on EU imports fall to zero, says Ghabbour: It is unlikely that prices on imported EU vehicles would drop once tariffs on them fall to zero on 1 January, GB Auto Chairman Raouf Ghabbour said at the Automech Formula 2018 conference on Wednesday. Ghabbour pointed to the […]

PSA for gearheads- Mercedes launched its new C Class and E Class lineups in Egypt at Automech Formula. You can read all the details in the company’s statement here (pdf).