Author Archives: enterpriseam admin

CBE launches EGP 16.8 bn debt relief program: The central bank has launched a sweeping debt relief initiative that could forgive some EGP 16.8 bn worth of interest payments on non-performing loans held by state-owned banks, according to a CBE statement (pdf) issued on Wednesday. The program will help around 3,500 business with assets less […]

Egypt may tap the global sukuk market in FY2018-19, Finance Minister Mohamed Maait tells Bloomberg in an interview. The plan to issue Islamic Sharia-compliant bonds in USD or EUR “would mark a revival of a plan shelved since 2013 when the government under then-Islamist President Mohamed Morsi issued the law to pave the way for […]

Green bonds coming to Egypt? The International Finance Corporation (IFC) and the Financial Regulatory Authority (FRA) have kicked off consultations on what guidelines for green bonds might look like, according to a statement from IFC (pdf) on Wednesday. What are green bonds you ask? Think regular bonds, but whose proceeds go towards funding green projects. […]

Israeli energy investors worry that the Noor gas field could be a gamechanger: Reports of that the Noor gas field in the East Mediterranean coast off of North Sinai could hold reserves 3x as much as Zohr sent Israeli energy stocks down on Wednesday, according to Haaretz. Israeli gas shares fell by about 4% on […]

EXCLUSIVE- Late export subsidies could be disbursed sooner than we thought: Finance Minister Mohamed Maait will meet with Trade and Industry Minister Amr Nassar early on in the new fiscal year (which starts next week) to devise a strategy for disbursing overdue payments from the Export Subsidy Fund — an issue Maait previously told us […]

M&A WATCH- Ezdehar closes acquisition of ‘strategic’ stake in loyalty programs provider Dsquares: Our friends at Ezdehar Management have completed the acquisition of a strategic stake in in digital marketing and IT solutions firm Dsquares, the company said in a press release. “We are excited to back the Dsquares team as it grows its footprint. […]

M&A WATCH- Misr Cafe pulls out of sale talks: Misr Cafe has ended all talks with prospective suitors to sell a stake in the company, sources close to the negotiations tell Enterprise. Misr Cafe apparently broke off negotiations few months back, sources added. We were told that the company probably will not revisit talks on […]

M&A WATCH- Mondi Paper Sales is reportedly planning to delist Suez Bags from the EGX after it completes the acquisition of a 70.1% stake in the company, Al Mal reports, providing no reason for the decision. The Financial Regulatory Authority had signed off this week on Mondy’s mandatory tender offer to buy 7,666,435 shares in […]

INVESTMENT WATCH- Agility Kuwait expects to invest USD 100 mn in the first phase port of East Port Said logistics zone, Suez Canal Authority (SCA) boss Mohab Mamish said, Al Mal reports. Agility signed an MoU with the SCA on Tuesday to establish the zone. Feasibility and financial studies will take a combined 14 months […]