Author Archives: enterpriseam admin

Electricity prices set to rise by as much as 55% come July? Speculation about how far electricity prices will rise in July has kicked into overdrive, with ministry sources telling Al Mal that its final recommendation to cabinet is for prices to rise 33-55%. Previous reports had suggested that the new system would divide residential […]

Military says it’s not crowding out the private sector: The Military Production Ministry is not competing with the private sector, said minister Mohamed El Assar in a sit down with the press, Al Ahram reports. The ministry works alongside the private sector and compliments its role, he added, noting that 75% of the ministry’s projects […]

INVESTMENT WATCH- Boeing looks at opening regional office in Cairo: Speaking of cooperation with the private sector, Boeing is considering forming a JV with a “sovereign entity” which could see it open its first North Africa office in Cairo, says Boeing MENA President Bernard Dunn, according to Al Shorouk. President Abdel Fattah El Sisi had […]

INVESTMENT WATCH- SODIC plans to invest up to EGP 1 bn to grow its land bank this year: Our friends at SODIC are planning to invest between EGP 900 mn and 1 bn to expand their land bank this year, CEO Magued Sherif told reporters yesterday, according to Arabic Reuters. Sherif did not get into […]

In other news from the real estate sector, Emaar Misr has awarded Dubai-based Arabtec Construction a USD 43 mn contract to develop two phases of Emaar’s Uptown Cairo Project, according to a statement from Arabtec (pdf). The agreement will see Arabtec build villas as well as develop “surrounding roadworks and infrastructure” in the two phases, […]

IPO WATCH- Eight Egyptian law firms are reportedly vying for the role of legal advisor to the government’s privatization program, government sources said. The list of suitors includes Zaki Hashem & Partners, Zulficar & Partners, Sarie Eldin & Partners, Matouk Bassiouny, Helmy, Hamza and Partners, Shahid Law Firm, El Tamimi & Co, and TMS Law […]

REGULATION WATCH- FRA looking to cut fees for listing, clearing: An advisory committee to the Financial Regulatory Authority (FRA) met yesterday to look into the possibility of lowering listing fees and fees at Misr Clearing, sources told Youm7. The regulator had requested that the EGX and Misr Clearing send their proposals for cutting fees, a […]

M&A WATCH- Heliopolis-based Golf International Hospital (GIH) is closing in on a EGP 45 mn acquisition of Al Masah Hospital, GIH CFO Mohamed Abdelaaty tells Al Mal. The contract for the transaction should be signed by the end of Ramadan, according to Abdelaaty. The two hospitals began talks on the transaction a while ago, but […]

EBRD lends SOPC USD 200 mn to finance energy efficiency program: Egypt signed yesterday a USD 200 mn loan agreement with the European Bank for Reconstruction and Development (EBRD) for the Suez Oil Processing Company (SOPC) to finance the company’s energy efficiency investments, including its Green Economy Transition approach, according to an Investment Ministry statement. […]

FinMin to disburse late export subsidies over a period of years: The Finance Ministry plans to disburse overdue payments from the Export Subsidy Fund over a period of years, ministry sources said. The source did not state why they had been held up, but a number of industry-specific export associations have been lobbying for the […]