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Egypt and the Libyan Government of National Accord have agreed to form a joint committee to cooperate on setting customs and financial policies and which will see Egypt help train Libyan custom officials. The committee will be headed by Vice Minister of Finance Mohamed Maait, Al Masry Al Youm reports. The move follows a meeting […]
Author Archives: enterpriseam admin
Posted inEnergy
EETC issues first tender outside FiT program for 600 MW of solar energy
The Egyptian Electricity Transmission Company (EETC) issued its first tender outside the feed-in tariff program for 600 MW of solar power projects west of the Nile, PV Magazine reports. Under the new system, the EETC will issue competitive solar and renewable energy projects. Interested developers who have prior experience will be allowed to submit their […]
Posted inEnergy
GE Power to help connect 120 MW of wind power to the national grid by 2018
GE Power and the Egyptian Electricity Transmission Company (EETC) have agreed to cooperate on connecting 120 MW of wind power to the national grid by the end of 2018, GE announced on Monday. This will be done by extending the Gabal El Zayt 22/220 kV Gas Insulated Substation through the use GE Power’s Grid Solutions’ […]
Posted inEnergy
Alexandria Electricity Distribution launches 10 tenders to install cables, other equipment
The Alexandria Electricity Distribution Company launched 10 tenders to supply and install power distribution cables, control systems and other equipment, company sources told Al Mal on Monday. The company is expecting to receive bids from companies this week, sources added.
Posted inEnergy
Afrises wins Ugandan contract to supply EGP 100 mn in PV solar systems
Egyptian solar company Afrises has been awarded EGP 100 mn in contracts by the Ugandan government to supply and install solar power systems, company CEO Ahmed Hamdy tells Al Mal. The PV systems, which will be used to power various small-scale development projects in Uganda, will be completed by the end of 2018.
Posted inHealth + Education
Public Funds Prosecution investigates ACDIMA over penicillin shortage
A prosecutor’s office in charge of investigating the misuse of public funds is probing the Arab Company for Drug Industries and Medical Appliances (ACDIMA) amid allegations it engaged in monopolistic practices that resulted in a penicillin shortage in the local market, Al Masry Al Youm reports. The Health Ministry is reportedly accusing ACDIMA’s former president, […]
Posted inBanking + Finance
Al Ahly Capital to set up factoring arm in 1H2018
Al Ahly Capital is planning to set up a factoring arm in 1H2018 as part of its strategy to expand its non-bank financial services offering, CEO Khaled Badawi tells Reuters' Arabic service. The company would have an initial capital of EGP 300 mn.
Posted inEgypt Politics + Economics
House Economics Committee plans to summon Sahar Nasr over delay in roll out of investor service center, map of industrial projects
The House Economics Committee may summon Investment Minister Sahar Nasr answer questions about what it says is a delay in setting up an investor service center, Ahram Gate reports. The committee will question Nasr over “conflicts” between different ministries, which has delayed the establishment of the center and the release of the ministry’s investment map […]
Posted inEgypt Politics + Economics
Eight arrested for protesting Trump’s Jerusalem decision
Eight people were arrested in Cairo and accused of being connected to the Ikhwan for demonstrating against US President Donald Trump’s decision to recognize Jerusalem as Israel’s capital, presidential candidate Khaled Ali said yesterday, according to the AP. The demonstrators have also been charged with “inciting protests and violence” and will be detained for 15 […]
Posted inON YOUR WAY OUT
Endeavor Egypt hold their Annual Mentor Awards
Endeavor Egypt held an event honoring mentors for their contributions in guiding Egyptian entrepreneurs, the organization said in an emailed statement (pdf). Transcendium founder and executive partner Alaa Hashim was celebrated as the group’s mentor of the year. Ten others, including Ezdehar Managing Partner Emad Barsoum, Orascom Development Holding CEO Khaled Bichara, and our friend […]