Author Archives: enterpriseam admin

EFG Hermes’ Vortex platform sold a 45% equity stake in its UK solar operation to Malaysia’s second-largest pension fund, Kumpulan Wang Persaraan (KWAP), in a GBP 67.5 mn transaction. Vortex will continue to maintain a 5% long-term shareholding in Vortex Solar Investments, having acquired 365 MW of solar PV producing assets in the United Kingdom […]

IPO WATCH- Pioneers Holding plans to list 40% of its subsidiary Rooya Real Estate Investment Company on the EGX in 1H2018, Pioneers CEO Walid Zaki told Reuters on Sunday. Last we heard of this IPO was back in July, when reports emerged that Rooya had filed to list. It had also been reported that the […]

INVESTMENT WATCH- Logistics tech startup Bosta has secured seed investment from e-payment provider Fawry in a transaction entailing a share purchase and capital increase. Bosta said it plans to “leverage its latest investment to develop its online delivery platform, boost its user-experience and disrupt the delivery service market in Egypt while maintaining an eye for […]

LEGISLATION WATCH- The House of Representatives approved yesterday 39 articles of the Universal Healthcare Act during its first plenary debate of the law, Al Shorouk reports. Articles that passed included those setting up the three regulators which will monitor implementing the new healthcare system. Debate of the law had been contentious, particularly over how to […]

The Sisi administration plans to honor all export contracts Egypt signed before the nation became a net importer of gas back in 2012, said Oil Minister Tarek El Molla, Al Shorouk reports. The statement appears to signal that the government plans to use influx of gas from Zohr, which it hopes will help Egypt become […]

The Ministerial Committee for Settlement of Investment Disputes settled a USD 937 mn dispute with Saudi Investor Hashem El Mehdar Group Industry & Tourism Development, Al Masry Al Youm reports. El Mehdar withdrew an international arbitration case he had filed against Egypt and will move ahead with planned investment in Marsa Matrouh, which were put […]

INVESTMENT WATCH- Hilton Worldwide is planning to add 1,000 hotel rooms in Egypt next year, vice president of operations for Egypt and North Africa Mohab Ghali said yesterday, Al Shorouk reports. Ghali had previously said that Hilton is planning on expanding in Egypt with seven hotels in Cairo, Hurghada, and Ain Sokhna in the next […]

EgyptAir Cargo apparently sent its first cargo flight to Moscow in two years on 29 November, the company said in a statement. EgyptAir Cargo plans on sending twice-weekly flights to the Russian capital until the end of February 2018, according to the statement. The company has been in talks with Russia to resume cargo flights […]

Plantform Egypt’s Hussein Abou Bakr has become the latest entrepreneur to join the Endeavor network, becoming one of 35 business people from 22 companies and 13 countries to get the nod at an international selection panel in Miami. Plantform is a food processing company with three business lines (canned food, pickles and dehydrated vegetables) and […]

Priority will be given to Egyptian companies in the reconstruction of Libya, said Osama Hamad, Finance Minister of Libya’s Government of National Accord. “Egyptian companies have the ability to accomplish anything, and this is what we’ve seen in our visit to the Suez Canal Economic Zone during our tour,” Hamad tells state-owned news agency MENA. […]