Author Archives: enterpriseam admin

2018 is “Egypt’s year,” according to BMI Research Africa Monitor report for February. “While the region as a whole is set to see growth accelerate, Egypt stands out as the economic outperformer in 2018, as structural reforms implemented as part of the 2016 IMF [agreement] begin to spur more significant investment, while headwinds to household […]

M&A WATCH- Egypt Kuwait Holding (EKH) received the go-ahead from the Financial Regulatory Authority on Thursday to make a mandatory tender offer to acquire 99% of Delta Insurance, according to Al Mal. EKH is looking to acquire the remaining 16.9 mn shares (67.97%) valued at EGP 20 a share, which would value the transaction at […]

EFG Hermes topped the EGX’s brokerage league table for January with a 17.1% market share, according to figures released by the Egyptian Exchange (pdf). CI Capital placed second with a market share of 12.9%, followed by Beltone Financial (7.7%), Pharos Holding (5.2%) and Pioneers Holdings (4.8%).

Five Egyptian investment banks took home hardware from the MENA Fund Manager Performance Award 2018 in Dubai, winning a total of nine awards. Acumen Asset Management was the big Egypt winner of the night, clinching three awards: Best balanced fund, best MENA equity fund of under USD 75 mn, and MENA equity fund of the […]

IPO WATCH- Prime Holding to manage EGP 500 mn IPO of education-focused company: Prime Holding expects to take an education company public in an EGP 500 mn offering on the EGX before the end of 2018, Vice Chairman Mohamed Maher Aly said yesterday. Aly declined to name the company, but suggested there will be retail […]

Mmmm… Muffins: Leading snack food producer Edita has launched the Todo Mini Muffins, their first new product in 2018, according to a company statement (pdf). Todo Mini Muffins will be priced under EGP 5 and are part of Edita’s cake segment, a key contributor to revenues in 2017.

GASC changes wheat import terms in latest tender: State grain buyer, the General Authority for Supply Commodities (GASC), changed the terms of importing wheat to traders in a Friday tender, traders tell Reuters. The change was meant to calm wary suppliers, some of whom shunned recent state tenders after a surge in costs faced by […]

Egypt to complete development on Zohr one year ahead of schedule: Egypt will complete the development of the Zohr gasfield at the beginning of 2019, instead of the end of the year, Oil Minister Tarek El Molla said on Thursday, according to Reuters. Egypt had been speeding up the development of the giant gasfield, with […]

The International Islamic Trade Finance Corporation (IITFC) opened a USD 400 mn credit line for Egypt to buy petroleum products as part of the final tranche of a USD 3 bn financing agreement signed in 2015, CEO Hani Sonbol told Reuters on Thursday. The IITFC will begin implementing a new USD 3 bn financing agreement […]