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It’s looking rather busy this weekend and well into next week: Pharos-affiliated Pride Capital, Egypt’s first fintech-focused accelerator, is hosting a workshop titled “Financing Small Merchants” on Monday, 23 April at the Greek Campus. Our friends at Renaissance Capital are holding their third annual Egypt Investor Conference in Cape Town on 24-25 April. GERD talks: […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
Oil and gas, IMF report, and Sophia the robot
Egypt’s upcoming oil and gas agreement with the EU and the World Bank’s latest Economic Outlook report dominated the conversation on the airwaves last night (we have chapter and verse on both in the Speed Round, below). Egypt is expecting the results of seismic scans of the Red Sea back by the end of June […]
Posted inSpeed Round
Price control mechanism are here with the Consumer Protection Act
LEGISLATION WATCH- The one economic law we hoped MPs would sleep on finally passed. The House of Representatives voted in favor of amendments to the Consumer Protection Act in a plenary session on Tuesday. The law — the single, blatantly anti-free-market piece of all the Ismail government’s major economic legislation — gives its Consumer Protection […]
Posted inSpeed Round
World Bank sees Egypt’s GDP growing at a 5% clip in 2018
The World Bank’s Economic Outlook April 2018 report (pdf) sees Egypt’s real GDP growing 5% in FY2018 and on track to climb to 5.8% by FY2020. “Growth is expected to be driven by resilient private consumption and investment, in addition to a gradual pickup in exports (notably from tourism and gas),” the report says. The […]
Posted inSpeed Round
World growth forecast to level at 3.9% in 2018, 2019
As for the global economy? The IMF sees global growth at 3.9% in 2018 and 2019, a 20 bps improvement from its October 2017 forecast. Driving the uptick is faster growth in the Euro area, Japan, China, and the US, all of which grew above expectations last year on the back of improved trade and […]
Posted inSpeed Round
Euler Hermes upgrades Egypt’s risk rating, forecasts 5.2% growth this year
Euler Hermes upgrades Egypt’s risk rating, forecasts 5.2% growth this year: Euler Hermes has upgraded Egypt’s risk rating to C2 from C3 in its 1Q2018 review, and expects the economy to deliver 5.2% growth during the current fiscal year. Growth is expected to be more broadly based, with exports rising 10% throughout the year at […]
Posted inSpeed Round
EGX signs off on CI Capital IPO; trading should start by end of month
IPO WATCH- The EGX’s listing committee approved yesterday (pdf) CI Capital’s request to go ahead with its initial public offering. The investment bank is hoping to raise as much as USD 100 mn (EGP 1.8 bn) from its IPO, which will see it list roughly 41.5% of its shares (225,637,282 ordinary shares) on the EGX […]
Posted inSpeed Round
Egypt’s sovereign wealth fund to be established within six months, says El Said
Egypt’s EGP 200 bn sovereign wealth fund is expected launch within six months, by which time the legislation establishing the fund should receive the necessary sign-off from the House of Representatives, Planning Minister Hala El Saeed told reporters yesterday, Al Mal reports. The government is currently in talks with regional and European institutions to take […]
Posted inSpeed Round
Possible EU agreement next? Shell resumes EastMed ops and more from Med Offshore Conference
Is this it? Are we going to be the energy export hub to the EU next week? Egypt is expected to sign a new oil and gas agreement with the EU next week, Oil Minister Tarek El Molla said yesterday, without providing further details. While he framed the announcement as a “cooperation agreement,” he added […]
Posted inSpeed Round
EMRA to issue new Eastern Desert gold exploration tenders before the end of 2018?
Natural resources regulator to issue new Eastern Desert gold exploration tenders before the end of 2018? The Egyptian Mineral Resources Authority (EMRA) is reportedly planning to issue new gold exploration tenders for five blocks in the Eastern Desert before the end of the year, an unnamed EMRA official tells Youm7. The authority is reportedly waiting […]