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Author Archives: enterpriseam admin
Posted inWhat We’re Tracking This Week
What we’re tracking this week
Inflation numbers should come out on or about this Thursday, 10 May. This month is all the more significant as the central bank’s Monetary Policy Committee will meet on 17 May to set interest rates.
Posted inON THE HORIZON
On the horizon
EETC to issue tender for electricity grid interconnection with Sudan “within days”: The Egyptian Electricity Transmission Company (EETC) will issue a local and global tender for power lines and transformers for the electricity grid interconnection project with Sudan “within days,” sources had said. Contracts to connect our electric grid to Saudi Arabia’s could be signed […]
Posted inEnterprise+: Last Night’s Talk Shows
Did the government really cave to public pressure on its education reform strategy?
Foreign relations in general, and the Iran nuclear agreement in particular, dominated the airwaves last night, with every talking head save Henry Kissinger making the rounds. But the most surprising news from the talking heads was that the government could be bowing down to pressure over education reform. Is the government really caving to public […]
Posted inSpeed Round
Ride-hailing Apps Act is a step forward for region’s ride-sharing industry -Uber Egypt GM
House passage of the ride-hailing legislation is a step forward for the industry -Uber Egypt GM. Uber Egypt GM Abdellatif Waked said the act, which passed the House of Representatives on Monday, is one of the first of its kind in the region and will help drive growth of his industry. Uber is “quite happy” […]
Posted inSpeed Round
Ismail Cabinet issues regs for the Universal Healthcare Act
LEGISLATION WATCH- Prime Minister Sherif Ismail issued the executive regulations of the Universal Healthcare Act on Tuesday, according to a cabinet statement. The statement did not provide the final draft of the regs, but copies leaked by Al Ahram last month show that focus on the roles, jurisdictions and functions of the new healthcare regulators […]
Posted inSpeed Round
Qalaa considering increasing stake in ERC
Qalaa eying additional stake in Egyptian Refining Company: Qalaa Holdings announced yesterday that it is looking to increase its ownership of its greenfield Egyptian Refining Company (ERC) by acquiring or subscribing to additional shares in its subsidiary Orient Investment Properties, Qalaa said in a regulatory filing (pdf). ERC recently completed a project finance restructuring that […]
Posted inSpeed Round
CIB posts record first quarter earnings
EARNINGS WATCH- CIB posts record first quarter earnings. Our friends at Egypt’s largest private-sector bank delivered a 17% y-o-y rise in net income to EGP 2.0 bn in 1Q2018 on revenues of EGP 4.2 bn (up 25% y-o-y). In comment on the results, management noted that top line and bottom line growth were more impressive […]
Posted inSpeed Round
CI Capital reports net profit of EGP 81.9 mn
EARNINGS WATCH- CI Capital reported a net profit after tax and minority interest of EGP 81.9 mn in 1Q2018, up 35% y-o-y, the company reported in its first earnings release since going public last month (pdf). Total revenues for the quarter jumped 34% y-o-y to EGP 542.1 mn. In comment on the firm’s maiden earnings, […]
Posted inSpeed Round
Alta Semper Capital opens regional office in Cairo
London-based private equity firm Alta Semper Capital opened yesterday a new regional office in Cairo, according to an emailed statement. The office will serve Egypt and the region through investments in the consumer and healthcare sectors. “There are many interesting investment prospects in Egypt to which we can apply our international experience,” said Managing Partner […]