Author Archives: enterpriseam admin

There are calls in the House of Representatives for a EGP 500,000 licensing fee for factories in all industries to help fund the Universal Healthcare Act, sources in parliament tell Al Borsa. The EGP 600 bn healthcare plan is already set to be partially funded through licensing fees on the healthcare sector running between EGP […]

IPO WATCH- Ibnsina Pharma launches today its offering to retail investors as part of its IPO of up to 40% of its total shares. Shares in the IPO are split between institutional investors (85% of the offering) and individual investors (15% of the offering). The retail offering continues until Thursday, 7 December. Book-building for the […]

EFG Hermes topped the EGX’s brokerage league table for November with a 24.8% market share, according to figures released by the Egyptian Exchange. CI Capital placed second with a market share of 6.7%, followed by Pharos Holding (5.3%), Beltone Financial (4.6%), and Pioneers Holdings (4.4%). On a YTD basis, the rankings run EFG Hermes (23.2%), […]

Naguib Sawiris plans to launch a new investment vehicle to acquire gold mining assets across the world, the Financial Times reports. The new company will fall under Sawiris’ La Mancha Group, which holds majority stakes in Canadian mining firm Endeavor and Australia’s Evolution Mining. The move comes as listed gold miners have underperformed the gold […]

INVESTMENT WATCH- Spain’s Mediterranean Capital Partners is eyeing SME opportunities in Egypt for its EUR 103 mn regional private equity fund MC3, founder Albert Alsina said yesterday, AMAY reports. The firm likes education, healthcare, retail, telecoms, and transport, Alsina said.

LEGISLATION WATCH- Maglis Al Dawla to begin reviewing basket of legislation, including Ride-hailing Apps Act: The Council of State (Maglis Al Dawla) has received seven pieces of economic legislation to review before they’re put to a vote by the House of Representatives, Al Borsa reports. Those include theRide-hailing Apps Act, which regulates the work of […]

Ahmed Shafik declares presidential run: Like the drawn out sequels of bad 1980s movies, Mubarak-era Civil Aviation Minister and 2012 presidential candidate Ahmed Shafik announced from exile in the UAE his intention to run for president again in early 2018 on Wednesday, Reuters reports. He becomes the second candidate to throw his hat in the […]

Russia and Egypt have signed an agreement allowing each to use the other’s airspace and air bases for warplanes planes under a five-year agreement, Reuters notes. Signing of the agreement was authorized last month by Russian Prime Minister Dmitry Medvedev and was signed following a meeting in Cairo last Wednesday between Russian Defence Minister Sergei […]

El Sisi orders Armed Forces to defeat the insurgency in North Sinai in three months: President Abdel Fattah El Sisi said he ordered the Armed Forces to “restore order and stability” in Sinai in the next three months at a speech during the Prophet Mohamed’s birthday celebrations held by the Endowments Ministry. His speech came […]

MOVES- Misr Insurance Holding Company has tapped Hussein Atallah as its new chairman, Al Borsa reports. Atallah succeeds Adel Moussa, whose term as chairman legally expires at the end of this month. The company also appointed Fatheya Shetewy as the new chairperson of Misr Real Estate Management, succeeding Mohamed Hassan Hanafy.