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Author Archives: enterpriseam admin
Posted inON THE HORIZON
On the horizon
President Abdel Fattah El Sisi will unveil an unspecified new education program this month, Cairo University President Mohamed El Khosht said, Al Shorouk reports. El Khesht gave no detail about the program and wouldn’t specify whether it was K-12 or post-secondary, but claimed the unveiling will happen at Cairo University. The Madbouly Cabinet’s policy program […]
Posted inEnterprise+: Last Night’s Talk Shows
Press freedoms are once again at the forefront of the airwaves last night
We’re chuffed: Freedom of the press was again at the forefront of the airwaves last night, as the Maglis El Dowla (Council of State) issued a scathing report on the Press and Media Act, saying multiple articles violate constitutional provisions on freedom of speech and due process (we have more detail on the Maglis’ verdict […]
Posted inSpeed Round
FinMin takes next step in taxing e-commerce, social media ad buys
EXCLUSIVE- FinMin takes next step in taxing online ad buys and e-commerce transactions: A Finance Ministry committee is looking into setting up a tax formula for ads on social media and e-commerce transactions, ministry sources tell Enterprise. The committee looking at Organisation for Economic Co-operation and Development (OECD) best practices for how to structure the […]
Posted inSpeed Round
Careem is planning to spend USD 150 mn to launch CareemFood
Also from the ride-hailing space, Careem is planning to spend USD 150 mn to launch CareemFood: Careem is in talks with investors to raise as much as USD 150 mn to finance the launch of CareemFood, a regional competitor to UberEats, sources close to the matter tell Reuters. The Dubai-based firm, which is said to […]
Posted inSpeed Round
CIRA general assembly approves listing 35% of shares
EXCLUSIVE- CIRA general assembly approves listing 35% of shares: The general assembly of education outfit Cairo Investment and Real Estate Development (CIRA) met this week and settled on relisting 35% of the company’s shares on the EGX in a transaction that could come as early as October, a source close to the offering told Enterprise. […]
Posted inSpeed Round
Lincom Investments planning IPO on the EGX this year or early 2019
EXCLUSIVE- Lincom Investments planning IPO on the EGX this year or early 2019: Red Sea-focused real estate investment firm Lincom Investments is planning to offer as much as 25% of the company in an IPO on the EGX sometime toward the end of 2018 or early in 2019, company Chairman and Managing Direct Ehab El […]
Posted inSpeed Round
Alex Container and Cargo Handling to offer additional stake on EGX in 4Q2018
IPO WATCH- State-run Alexandria Container and Cargo Handling Company (ACCH) will list additional shares on the EGX in 4Q2018, an unnamed Maritime & Land Transport Holding Co. official tells Al Mal. A committee from the Alex Port Authority, NI Capital, and the Public Enterprises Ministry is currently in talks to set a date for the […]
Posted inSpeed Round
Algebra Ventures leads USD 1.5 mn funding round for Jordan’s POSRocket
INVESTMENT WATCH- Algebra Ventures leads USD 1.5 mn funding round for Jordan’s POSRocket: Egypt’s Algebra Ventures led a USD 1.5 mn second round of funding for Jordan-based startup POSRocket, according to a press release on Monday (pdf). KISP Ventures, Arzan VC, Financial Horizon Group, and two other angel investors also participated in the funding round. […]
Posted inSpeed Round
Talks on Armed Forces’ USD 2 bn integrated solar panel factory stall on disagreements with Chinese partner?
INVESTMENT WATCH- Talks on Armed Forces’ USD 2 bn integrated solar panel factory stall on disagreements with Chinese partner? Negotiations between the Military Production Ministry and China’s Golden Concord Group (GCL) over a planned USD 2 bn integral solar panel factory have reportedly come to a halt after disagreements over what the partners will do […]