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Is the oil production tap about to be turned on? With oil still in the USD 80 neighborhood, Saudi Arabia and Russia are signaling that they may dial-up oil output this year. Saudi Energy Minister Khalid Al Falih said that it is likely production will ramp up in 2H2018, according to Bloomberg. Whether the size […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
Elsewhere in the world on 27 May 2018
Qatar doesn’t plan on mending ties with the Arab Quartet: Qatar’s banned yesterday the sale of of food and other goods from Egypt, Saudi Arabia, the UAE, and Bahrain, Bloomberg reports. The move comes a little more than a week before the one-year anniversary of the Arab Quartet simultaneously severing diplomatic ties with the statelet. […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
Our friends at AmCham are holding their annual general meeting and iftar on Tuesday, 29 May. Their guest speaker will be Education Minister Tarek Shawki, who will speak about the government’s “national strategy for education transformation in Egypt.” If our own little company’s iftar wasn’t scheduled for the same night, we’d attend: We don’t know […]
Posted inON THE HORIZON
On the horizon
Do you have an idea for a tech-enabled business idea that could make agriculture in Egypt more efficient? The World Bank may have seed funding, access to mentorship, and an accelerator / incubator program for you through its “DigitalAG4Egypt” program. The deadline for submissions is 1 July. Tap or click here for more information.
Posted inEnterprise+: Last Night’s Talk Shows
Last night’s talk shows for 27 May 2018
Move along, move along. The talking heads are on hiatus. We suspect they’re having no more luck finding a decent mosalsal to watch than we are.
Posted inSpeed Round
Ebtikar-led consortium acquires ODE’s stake in Tamweel for EGP 360 mn
M&A WATCH- Ebtikar-led consortium acquires ODE’s stake in Tamweel: A consortium made up of B Investments’ Ebtikar, TCV, and Acquire for Investment acquired Orascom Development Egypt’s (ODE) full 87% stake in Tamweel Group on Thursday. The transaction valued Tamweel at EGP 360 mn, ODE said in a regulatory filing (pdf). “The sale will enable ODE […]
Posted inSpeed Round
India’s Dhunseri to invest USD 225 mn in EIPET:
INVESTMENT WATCH- India’s Dhunseri to invest USD 225 mn in EIPET: India’s Dhunseri Petrochem is looking to invest USD 225 mn in its Egyptian Indian Polyester Company (EIPET), company officials tell India’s Economic Times. “Going forward, we plan to infuse money into the plant after examining the fund requirement. We plan to start operating one […]
Posted inSpeed Round
Al Ahly Capital to invest EGP 1.5 bn in Al Ghurair sugar refinery in Egypt
INVESTMENT WATCH- Al Ahly Capital is investing EGP 1.5 bn in Al Ghurair Group’s Al Canal Sugar refinery, Head of Investment Karim Aboul Naga said on Thursday, Al Mal reports. That will give Al Ahly a 27% stake in the project, Aboul Naga said. We had heard earlier this month that the National Bank of […]
Posted inSpeed Round
EGPC set to receive USD 850 mn in loans from local banking consortium to repay IOCs?
EGPC to set receive USD 850 mn in financing from domestic banking consortium to repay IOCs? The Finance Ministry has reportedly agreed to issue letters of guarantee for two loans to the EGPC worth a combined USD 850 mn, sources close to the matter tell Al Mal. The funding, which will be used to repay […]