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Author Archives: enterpriseam admin
Posted inON THE HORIZON
On the horizon
Our friends at EFG Hermes are hosting their 14th annual One on One Conference in Dubai on Monday, 5 March. The three-day event is the largest investor conference globally focused on frontier and emerging markets and will bring together some 175 companies for discussions on what a year of shifting benchmarks — including oil production […]
Posted inEnterprise+: Last Night’s Talk Shows
Last Night’s Talk Shows on 22 February 2018
The nation’s talking heads were still discussing natural gas last night, with the exception of Lamees Al Hadidi, who dedicated her Wednesday episode to the CIB-sponsored Hona Al Shabab competition. ECO Energy received a EGP 100k prize from CIB for coming out on top on last night’s episode. Two other startups, Sigma Fit and Zero […]
Posted inSpeed Round
Cyprus nearing natural gas agreement with Egypt
Cyprus is nearing an agreement to sell natural gas to Egypt, Bloomberg reports. This would follow the agreement with Israel and would include supplies from the Aphrodite field. “Cyprus is close to selling natural gas to Egypt’s liquefied natural gas plants, and we could reach an agreement in the coming weeks,” Energy Minister Georgios Lakkotrypis […]
Posted inSpeed Round
Enppi’s IPO will take place at the end of the year
IPO WATCH- Enppi’s IPO will take place at the end of the year: The listing of state energy firm Enppi will take place towards the end of the year, said CEO Mohamed Hathoot. He tells Al Borsa that the company now is working on listing procedures with NI Capital. A number of people involved in […]
Posted inSpeed Round
Unionaire Group reportedly pushes back its IPO to 2H2018
IPO WATCH- Unionaire Group has also reportedly pushed back its initial public offering plan to 2H2018 after having originally said the transaction would take place in 1H2018, sources close to the company say, according to Al Mal. The company is apparently still studying the alternatives to an IPO, including through a capital increase, the sources […]
Posted inSpeed Round
Qalaa’s ERC completes financial restructuring as it drives to completion
Qalaa’s Egyptian Refining Company completes financial restructuring as it drives to completion: Qalaa Holdings subsidiary Egyptian Refining Company (ERC) has reportedly completed a project finance restructuring that has seen the company take on new loans and equity commitments valued at around USD 500 mn, according to a press release from law firm Freshfields Bruckhaus Deringer, […]
Posted inSpeed Round
Egypt becomes world’s largest importer of Russian food products
Egypt has become the world’s largest importer of Russian food products, outpacing China, Russia’s Export Center said, RT reports. According to the center’s statistics, Egypt imported USD 1.73 bn worth of Russian products in 2017, marking a 44% y-o-y growth, Pravda says. “For comparison, China’s food imports from Russia amounted to USD 1.71 bn having […]
Posted inSpeed Round
Earnings watch: Orange Egypt records net losses for two consecutive years
EARNINGS WATCH- Orange Egypt reported a consolidated net loss of EGP 1.65 bn in FY2017, down 35.5% y-o-y from EGP 2.55 bn the previous year, the company said in an EGX filing (pdf). Consolidated revenues for the year rose 7.5% y-o-y to EGP 12.68 bn, up from EGP 11.79 bn. The company says (pdf) it […]
Posted inSpeed Round
Oil Ministry gets even nicer with industry with a new debt-relief initiative
Oil Ministry gets even nicer with industry with a new debt-rescheduling initiative: The Oil Ministry has approved a new initiative which would reschedule payments owed by manufacturers in arrears to state-owned natural gas providers, said minister Tarek El Molla in a statement on Wednesday (pdf). Businesses with overdue payments for gas they consumed in excess […]