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State-owned Telecom Egypt (TE) has no plans to sell its stake in Vodafone Egypt, CIT Minister Yasser El Kady said, according to Ahram Gate. TE holds a 45% stake in Vodafone Egypt, the paper notes.
Author Archives: enterpriseam admin
Posted inSpeed Round
Lava international to invest USD 10 mn in Egypt next year
INVESTMENT WATCH- Indian smartphone manufacturer Lava International plans to invest USD 10 mn in Egypt in 2018, said co-founder Hari Om Rai, according to Al Mal. Senior Vice President Vikram Singh Parmar had said earlier this month that the looking into establishing a mobile phone factory in Egypt in 2019. Lava recently began selling its […]
Posted inSpeed Round
MNHD announces record pre-sales of EGP 5.03 bn in 2017
Madinet Nasr Housing and Development (MNHD) said its pre-sales for 2017 reached “a record” EGP 5.03 bn, according to a bourse disclosure. The figure, which includes contracts and reservations reached the budgeted amount for the year and surpassed 2016’s figure by 46%. “This was achieved primarily from the company’s flagship projects, SARAI which reached EGP […]
Posted inSpeed Round
EBRD provides Olam International with USD 30 mn loan to fund operations in Egypt
EBRD provides Olam International with USD 30 mn loan to fund operations in Egypt: The European Bank for Reconstruction and Development (EBRD) is providing agribusiness trader Olam International with a USD 30 mn loan to support Olam’s activities in Egypt, the bank said in a statement on Thursday. The loan will help Olam increase the […]
Posted inSpeed Round
Gov’t to grow wheat on 3.25 mn acres this season
The Agriculture Ministry is planning on growing 3.25 mn acres of wheat this season, down from the previous target of 3.5 mn acres, the Ministry’s spokesperson said, according to Reuters. “Egypt’s wheat harvest typically runs from about April through July and cultivation is currently underway.”
Posted inSpeed Round
House passes amendments to Companies act
LEGISLATION WATCH- The House of Representatives passed amendments to the Companies Act, which allow for setting up sole proprietorship companies, Al Borsa reports. The changes govern how legal persons set up businesses in their own names and set out the framework for transforming them from a sole proprietorship into a joint stock company. With nuclear […]
Posted inSpeed Round
Britain designates two groups as terrorist organizations
Britain has added the Hasm movement and Liwaa El Thawra to its list of terrorist organizations “after reviewing attacks claimed by both groups and finding they meet the criteria,” according to The Associated Press. Britain also says the move will boost its “capacity to disrupt the activities of these terrorist organizations,” the British Embassy in […]
Posted inUncategorized
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Posted inEGYPT IN THE NEWS
Coptic Christians fear festive season attacks, will not give in
Topping coverage of Egypt in the foreign press this morning was the arrest of 15 people who took part in attacking “an unlicensed church” in Atfih, south of Cairo. The attack wounded three people, an Egyptian Coptic Christian diocese said on Saturday, according to The Associated Press. “The church in Giza just outside of Cairo […]
Posted inEGYPT IN THE NEWS
Why Egypt’s healthcare sector is ripe for investment
Egypt’s healthcare sector is ripe for investment, Colliers International MENA region director Mansoor Ahmed writes in Forbes Middle East. With the population growing at a rate 2.2% annually, the demand of healthcare services expected to grow. Egypt will require an additional 76,000 beds, with new investments of USD 16-21 bn by 2020. The demand is […]