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10-13 September (Monday-Thursday): EFG Hermes’ 8th Annual London Conference, Emirates Arsenal Stadium, London. 11 September (Tuesday): Islamic New Year, national holiday. 16 September (Sunday): Creative Industry Summit 2018, Four Seasons Nile Plaza, Cairo. 17-19 September (Monday-Wednesday): INTERCEM Cairo to Cape Town cement industry conference, Dusit-Thani LakeView, Cairo. 18-21 September (Tuesday-Friday): The Big 5 Construct Egypt, […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
What we’re tracking on 9 September 2018
**#1 AAIB boss Hassan Abdalla is out after more than a decade as the Egyptian-Kuwaiti joint venture’s vice-chairman and managing director. Abdalla, who was one of the most high-profile bank leaders facing the term limits the central bank has repeatedly mulled imposing, will reportedly serve as an advisor to Central Bank of Egypt Governor Tarek […]
Posted inEnterprise+: Last Night’s Talk Shows
Lamees is staying on at CBC — with some scheduling and content changes
We’re taking a break from our daily rundown of last night’s talk shows and will be back in full swing on Sunday, 16 September. That being said, we couldn’t ignore the latest episode of the “Where’s Lamees?” saga. **#5 Lamees is still MIA: Lamees Al Hadidi is still not back hosting Hona Al Asema, marking […]
Posted inSpeed Round
Foreign investors exited some EGP 29.9 bn worth of Egyptian treasuries in June 2018
**#2 Foreign investors exited some EGP 29.9 bn worth of Egyptian treasuries in June as the Emerging Markets Zombie Apocalypse deepened, according to central bank data (pdf). Foreign holdings of treasuries stood at EGP 269.1 bn at the end of FY2017-18, down EGP 29.9 bn from the previous month. International fund managers’ appetite for Egyptian […]
Posted inSpeed Round
Eastern Company to pilot government’s privatization program, EFG to manage transaction
**#3 Eastern Company to pilot government’s privatization program, EFG to manage sale: EFG Hermes was tapped to manage the first transaction in the state’s reborn privation program, which will see the sale of additional 4.5% stake in cigarette maker Eastern Company on the EGX, Finance Minister Mohamed Maait said in a statement on Thursday. State-owned […]
Posted inSpeed Round
Enppi IPO “likely” to take place in 1Q2019
**#4 EXCLUSIVE- Enppi IPO “likely” to take place in 1Q2019: As for the second phase of the program, it appears that the IPO of state energy contractor Enppi is “likely” to take place in 1Q2019, a Finance Ministry source told Enterprise. While Enppi is also likely to be the first state company to IPO under […]
Posted inSpeed Round
Egypt signs agreement to unlock USD 3 bn of financing from ITFC for essential commodities
Egypt signs agreement to unlock USD 3 bn of financing from Islamic Trade Finance Corp. for essential commodities: Egypt signed on Thursday two agreements to unlock a total of USD 3 bn in financing from the International Islamic Trade Finance Corporation, a subsidiary of the Islamic Development Bank. The financing includes USD 1 bn to […]
Posted inSpeed Round
GB Auto to start building motorcycle factory in Ain Sokhna next year, sees market turning around
**#6 GB Auto is planning to start building a motorcycle plant in Ain Sokhna next year, Chairman and CEO Raouf Ghabbour told Bloomberg in an interview. Production from the new plant is expected to start in 2020, with much of the output earmarked for export, according to Ghabbour, who adds that East Africa will be […]
Posted inSpeed Round
Pharos adviser on sale of Spinney’s, Actis makes USD 1 offer for Abraaj’s assets
**#7 M&A WATCH- Pharos said to be advising on Spinney’s sale: Our friends at Pharos Holdings are reportedly the advisers on the sale of Spinney’s by majority owner Abraaj, according to Al Mal. Al Mal’s piece suggests that Pharos is the sell-side adviser on the sale. Spinney’s CEO Mohanad Adly confirmed on Saturday that it […]