Author Archives: enterpriseam admin

IPO WATCH- From the Department of Unrealistic Deadlines, we have the notion that the IPOs of the three companies that will operate the Siemens power plants will take place in July 2018, Egyptian Electricity Holding Company (EEHC) head Gaber El Desoky told Al Borsa on Monday. The companies, which will manage combined cycle plants in […]

INVESTMENT WATCH- Digital money transfer service WorldRemit has raised USD 40 mn in Series C funding to finance expansion of its Egypt operation, the company said in a statement on Monday. The move comes on the back of a surge in remittances by Egyptian expats following the EGP float, which jumped nearly 40% in 1Q2017-18 […]

Orascom Telecom Media and Technology Holding (OTMT) confirmed that it is considering plans to invest in several agribusiness projects in Africa, the company said in a statement to the EGX (pdf) on Monday. The company said it was looking into nut and grain production as well as a vegetable oil factory. Countries on its target […]

MoU with Italy’s Danieli for a new steel factory scrapped: The Suez Canal Economic Zone (SCZone) has abandoned plans that would have seen a 1.2 MTPA steel plant built in the Ain Sokhna economic zone, SCZone head Mohab Mamish told Al Masry Al Youm on Monday. Mamish did not explain the reason behind the move, […]

MOVES- Acting Prime Minister Mostafa Madbouly issued a decision yesterday appointing former ambassador Ahmed Shehab El Din as deputy CEO of the General Authority for Freezones and Investment, Al Masry Al Youm reports. Shehab El Din previously served as assistant foreign minister and was posted to Egypt’s permanent representative at the UN, in addition to […]

A massive new market for Egypt’s film industry: Saudi Arabia announced yesterday it will allow movie theaters to open next year for the first time in more than 35 years. “It’s a stark reversal in a country where movie theaters were shut down in the 1980′s during a wave of ultraconservatism in the country. Many […]

Did Egypt’s purchase of Rafale fighter jets revive interest in an unpopular piece of military hardware? Egypt’s initial purchase of 14 Rafale planes back in 2015 for USD 6 bn helped spur further orders from other countries, according defense intelligence news outlet Strategy Page. “Until 2015 export buyers for the Rafale had been scarce. The […]

Making the most efficient use of roads is more important to improving transportation than building new roads, Careem CEO Mudassir Sheikha tells Bloomberg. “We believe ride-hailing, or a version of it, is the best way to build public transport today … [There’s a Middle Eastern city] that’s building a metro bus system for [USD 700 […]