Author Archives: enterpriseam admin

CLARIFICATION- EFG, GEMS acquire four schools in EGP 1 bn transaction from TMG: EFG Hermes and GEMS Education’s joint K-12 education platform in Egypt acquired four schools in Madinaty and Al Rehab from the Talaat Moustafa Group (TMG) for EGP 1 bn. The schools, two of which run the British system and two of which […]

Cotton Textiles Holding Co, NIB ink EGP 8.7 bn debt settlement agreement: The Cotton & Textiles Industries Holding Company signed yesterday an agreement to settle EGP 8.7 bn in debt owed to the state National Investment Bank (NIB), Ahram Gate reports. The company’s debt to NIB had peaked at EGP 10.5 bn, Public Enterprises Minister […]

NAT wants another EUR 500 mn for Cairo Metro’s Line 3: The National Authority for Tunnels (NAT) is reportedly in talks with international lenders for EUR 500 mn in fresh financing for the final stretch of the Cairo Metro’s third line, an unnamed official tells Al Mal. The French Development Agency (AFD), which is already […]

House eyes complicated tax formula for Uber, Careem? The House of Representatives’ Transportation Committee is proposing that the state scrap the idea of a standard base tax for ride-hailing company drivers, such as Uber and Careem, and implement instead a variable tax based on the number of days and hours worked, Rep. Abdallah Zein tells […]

Five companies win tender for phase one development of 200 PPP schools: The Education Ministry has chosen five companies to develop the first of 200 schools under a public-private partnership framework and has sent the list of winning companies to the Ismail Cabinet for approval, according to Education Ministry advisor Sherine Matar says. Matar did […]

The education ministry is pushing ahead with plans to do away with the public education system currently in place by 2026, minister Tarek Shawki said at AmCham’s annual general meeting and iftar yesterday, according to Youm7. The ministry will push ahead with its plans for a major overhaul of primary and middle school education despite […]

Four Egyptian universities make it to world’s top 1,000 list: Cairo University, Ain Shams University, Mansoura University, and Alexandria University were the only Egyptian universities to make the cut for the list of the world’s top 1,000 universities this year, according to the Center for World University Rankings. Cairo University received the top ranking for […]

Egypt’s favorite footballer Mohamed Salah will stay in Spain to receive treatment for his shoulder injury from which he (and 100 mn others) hopes to recover in time for Egypt’s first World Cup match in two weeks’ time, according to the Egyptian Football Association (EFA). The Liverpool striker will go through an intensive rehabilitation program […]