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Egyptian startups Masry Market, Tripdizer take part in Jack Ma’s eFounders Fellowship: Egyptian entrepreneurs Hany Girgis, founder of online market Masry Market, and Hatem Ayoub, founder of travel market aggregator Tripdizer, were among 27 other African entrepreneurs attending the third eFounders Fellowship cohort at the Alibaba campus in Hangzhou, China. The fellowship is part of […]
Author Archives: enterpriseam admin
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.83 | Sell 17.93 EGP / USD at CIB: Buy 17.84 | Sell 17.94 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Tuesday): 16,421 (+0.4%) Turnover: EGP 871 mn (14% BELOW the 90-day average) EGX 30 year-to-date: +9.3% THE MARKET ON TUESDAY: The EGX30 ended […]
Posted inCALENDAR
16 July (Monday): Cairo Court of Appeals to issue ruling on EGP 5.6 bn antitrust case against pharma companies including Ibnsina. 23 July (Monday): Revolution Day, national holiday. 16 August (Thursday): CBE’s Monetary Policy Committee meeting. 21-25 August (Tuesday-Saturday): Eid Al Adha (TBC), national holiday. 28-29 August (Tuesday-Wednesday): CI Capital’s 5th Annual Egypt Equities Conference, […]
Posted inWhat We're Tracking Today
What we’re tracking on 03 July 2018
It’s PMI Day: The Emirates NBD Egypt purchasing managers’ index reading for June comes out this morning shortly after we hit “send” on today’s briefing. You’ll find it here once it lands. May’s reading had dropped to 49.2 from 50.1 the previous month. Prime Minister Moustafa Madbouly will present his cabinet’s policy program to the […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
As many as 15 of the nation’s 27 governors could be hanging up their suits in a shuffle that had been expected last week. The short list is reportedly with President Abdel Fattah El Sisi. Keep your eyes peeled for signs the World Bank is chipping in more money for rail and river transport. Transport […]
Posted inEnterprise+: Last Night’s Talk Shows
Topping the economic programing was talk of amendments to real estate taxations
It was a mixed bag on the airwaves last night. Topping the economic programing was talk of amendments to how real estate is taxed, though we see the investigation into the Egyptian Football Association as topping the ratings. FinMin preemptively calms any possible outbreak of hysteria on real estate levy: With the House approving in […]
Posted inSpeed Round
IMF praises subsidy reforms, calls for more monetary tightening in third review
IMF praises subsidy reforms, calls for more monetary tightening in third review: Egypt has passed the IMF’s third review of the economic reform agenda with flying colors. The institution singled out recent fuel subsidy cuts for particular praise: “The continued fuel subsidy reform contributes to reducing the budget deficit and makes available more resources for […]
Posted inSpeed Round
World Bank loves our progress as well
World Bank loves our progress as well: World Bank Executive Director Merza Hasan met with Prime Minister Mostafa Madbouly yesterday. Hasan praised progress on the economic reform front, saying, “Egypt’s reform program is a success story” as demonstrated by improving economic indicators, according to a cabinet statement. WB also wants to help us reach our […]
Posted inSpeed Round
Earnings Watch: Qalaa Holdings revenues rise 48%, losses narrow 54% y-o-y in 1Q2018
EARNINGS WATCH- Qalaa Holdings revenues rise 48%, losses narrow 54% y-o-y in 1Q2018: Qalaa Holdings’ revenues rose 48% y-o-y in 1Q2018 to EGP 3.1 bn “due to stellar performance of its key segments, broad-based economic recovery, and a favorable regulatory environment,” the company said in a regulatory filing (pdf). The company’s losses during the period […]