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Amr Adib was the only one of the nation’s talking heads to bless the airwaves with a business-related discussion last night, with everyone else shifting between politics and miscellany. Adib sat sat down with Samih Sawiris on last night’s Kol Yom for a prolonged chat about the economy, which the businessman said is on the […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Business conditions stabilize in January, input buying at its fastest since 2014
Business conditions in Egypt’s non-oil private sector broadly stabilized in January, according the Emirates NBD PMI reading for Januarycompiled by Markit. The reading came at 49.9, up from December’s reading of 48.3 — just shy of the 50.0 neutral mark — and above the long run average of 48.3. January’s performance mainly reflected stabilization in […]
Posted inSpeed Round
Ripplewood looks to acquire an additional 10% of SODIC
EXCLUSIVE- Tim Collins’ Ripplewood is looking to acquire another 10% of SODIC. The play was recently disclosed to select shareholders under an arcane rule of Egyptian securities law that required Ripplewood to disclose its plans to MCDR, the central clearinghouse and share depository. Enterprise has reviewed copies of the documentation, which notifies shareholders holding more […]
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Egypt won over investors with currency liberalization. Now it must fight to keep them
Egypt won over investors with currency liberalization. Now it must fight to keep them: Egypt, Angola, Nigeria and Morocco present interesting examples of emerging markets whose adoption of currency liberalization measures was largely driven by investors as they tapped international markets. The question now remains if they have done enough, writes Paul Wallace for Bloomberg. […]
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BNP Paribas acts as sell-side advisor in EFG Hermes sale of stake in Vortex UK Solar
M&A WATCH- BNP Paribas said yesterday that it acted as the sell-side advisor to EFG Hermes Private Equity on its placement of a 45% stake in Vortex UK Solar in December 2017. The stake was sold to Kumpulan Wang Persaraan (KWAP) in a GBP 67.5 mn transaction. BNP Paribas was appointed by EFG Hermes to […]
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Egypt’s love for cigarettes has helped Eastern Tobacco’s revenues grow?
Just how much do Egyptians love their cigarettes? A whole lot. The Eastern Tobacco Co. has seen its share price climb around 373% since the EGP was floated in November 2016, hitting “successive record highs, in both USD and local-currency terms,” after it posted a 161% y-o-y increase in its profits for 1H2017-18. “The increase […]
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Electricity Ministry begins holding meetings to determine the new electricity prices
Electricity prices to rise in July, all consumption / income tiers to be hit; no imminent fuel price hikes -Oil Ministry. The Electricity Ministry is actively working on new electricity prices set to come into effect in July, said minister Mohamed Shaker, according to Al Borsa. He appeared to imply that the new price hikes […]
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House completes review of Labor Act, to pass it into law soon
LEGISLATION WATCH- House completes review of Labor Act, to pass it into law soon: The House of Representatives has completed its review of the Labor Act and should be passing it into law soon, Manpower Minister Mohamed Saafan said yesterday, according to Al Ahram. The amended legislation is expected to encourage youth to seek employment […]
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Naguib calls on local businesses to invest in Egypt
Naguib calls on domestic businesses to double-down on Egypt: Highprofile businessman Naguib Sawiris urged his domestic peers to invest at home, saying “now is the best time” to put their money in the country, which enjoys some of the highest returns on investment in the world. In a promotional video for the Investment Ministry, Naguib […]
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Qalaa founder optimistic about the future, says Egypt is on the path to economic recovery
The Egyptian economy is on the right track and economic conditions will eventually improve, Qalaa Holdings founder and Chairman Ahmed Heikal told talk show host Mahmoud Saad during an appearance on Akher Al Nahar. “It will take time, but things will get better,” he said, explaining that despite the pressure created by the various economic […]