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Our friends at AmCham are hosting a breakfast meeting and visit to the National Museum of Egyptian Civilization in Fustat on Thursday. The visit will include an exclusive viewing of the newly inaugurated exhibition hall: “Egyptian Crafts through the Ages.” Speakers will include Antiquities Minister Khaled El Anany and Mostafa Waziry, the director-general of the […]
Author Archives: enterpriseam admin
Posted inON THE HORIZON
On the horizon
Next week is also shaping up to be rather busy. Among the events we’re noting: Pride Capital, Egypt’s first fintech-focused accelerator and an affiliate of our friends at Pharos, is hosting a workshop titled “Financing Small Merchants” on Monday, 23 April at the Greek Campus. Our friends at Renaissance Capital are holding its third annual […]
Posted inEnterprise+: Last Night’s Talk Shows
Cabinet salaries, bread prices in the budget, and Syria airstrikes on the airwaves last night
It was a bland night of miscellany on the airwaves, with the nation’s talking heads discussing cabinet salaries, the state budget, and Saturday’s joint airstrikes on Syria. The House of Representatives approved yesterday a bill that sets a cap on the monthly net salaries of cabinet ministers at EGP 42,000. Parliamentary Affairs Minister Omar Marwan […]
Posted inSpeed Round
Future investments in Egypt from Nissan, Toyota ride on the Automotive Directive
Future investments in Egypt from Nissan, Toyota ride on the Automotive Directive: Japanese automakers Nissan and Toyota are waiting on the Automotive Directive to decide on how to expand their investments in Egypt, economic counselor at the Japanese embassy in Cairo Hiro Ichiba said. The two companies would invest more here are both considering expanding […]
Posted inSpeed Round
Unemployment rate down to 11.8%
The unemployment rate dropped to 11.8% at the end of 2017 from 12.5% a year earlier, CAPMAS’ quarterly report showed. The gap between female unemployment rates and males’ remains high, with the unemployment rate for men registering 8.2% and that for women at 23.1%. Overall, the labor force grew by 1.9% y-o-y to 29.47 mn […]
Posted inSpeed Round
UK-based institutional investors had heaviest appetite for Egypt’s recent eurobond –BNP
UK-based institutional investors accounted for 40% of demand for Egypt’s EUR 2 bn bond issuance, our friend Youssef Beshay, senior banker at BNP Paribas in Egypt, tells Al Mal. The remainder of the issuance was split between EU investors, who accounted for 30%, US investors at 20%, and investors from the Gulf and Asia at […]
Posted inSpeed Round
TE will not sell stake in Vodafone Egypt soon, to focus on growing market share to 15% by 2022
Shocking exactly no one, Telecom Egypt says it is not planning to sell its stake in Vodafone Egypt (VFE) any time soon: “Vodafone Egypt is a very good investment … A sale would only be considered if we reach a critical mass in the mobile market to the extent that we start cannibalizing on such […]
Posted inSpeed Round
OC to pay dividends to shareholders despite retained losses
Orascom Construction shareholders asked to approve capital reduction make dividend payment possible: Orascom Construction (OC) will paying dividends to shareholders for the first time since its dual listing on the Nasdaq Dubai and the EGX. The move comes despite the company holding an accumulated loss of USD 281.3 mn since the company formed, largely as […]
Posted inSpeed Round
Egypt’s leading banking MDs give their take on rates, and the future of financial inclusion
Leaders of Egypt’s finance industry talk interest rates and financial inclusion: Some of Egypt’s top finance industry figures sat down with The Banker Magazine to offer their take on everything from the success of the Sisi administration’s reform drive to monetary policy and financial inclusion. Among those appearing in the magazine’s April issue (pdf) are […]
Posted inSpeed Round
Investors don’t need to be bearish on Egypt anymore, says Naguib
Investors don’t need to be bearish on Egypt anymore, says Naguib: Investors should no longer be cautious when entering the Egyptian market now that the EGP float solved the country’s “biggest challenge,” Naguib Sawiris said in an interview with CNBC. “Investors are getting the [funds] in and out, dividends, are being paid, the USD is […]