Author Archives: enterpriseam admin

LEGISLATION WATCH- The House of Representatives’ Health Committee has given its approval to the Universal Healthcare Act — the government’s EGP 600 bn plan to expand quality government-sponsored healthcare coverage nationwide, Health Minister Ahmed Rady announced on Sunday, according to Al Shorouk. The bill, a key piece of social welfare policy for the Ismail cabinet, […]

The CBE has reportedly approved raising caps on cash withdrawals and deposits via mobile cash transfer services, Vodafone Egypt Sales Director Karim Shehata announced in a press conference on Sunday, according to Al Mal. The daily transaction limit was raised to EGP 10,000 from EGP 5,000, while the monthly limit was raised to EGP 50,000, […]

Is the World Bank telling us to get a sovereign wealth fund of our own? World Bank Group Senior Vice President Mahmoud Mohieldin reportedly suggested that it “was imperative” for Egypt to benefit from the revenues of the Zohr gasfield by establishing a sovereign wealth fund, Al Ahram reports. Mohieldin’s comments came at an AmCham […]

EARNINGS WATCH- Cleopatra Hospitals Group’s net profit rose 45% y-o-y to EGP 32 mn in 3Q2017, the company said in its earnings release issued overnight (pdf). Revenues came in 38% higher y-o-y at EGP 293.2 mn, “driven by both higher patient volumes and improved pricing.” Cleopatra Hospital was the largest contributor to Group revenues for […]

DP World says small businesses will be “at the heart of its new industrial and residential zone in Egypt’s Sokhna,” according to The National. The port operator signed an agreement at the World Youth Forum earlier this month with the Suez Canal Economic Zone (SCZone) to develop the 95k sqm Sokhna World Zone, which will […]

Kuwait Economic Development fund to contribute EGP 1 bn to Sinai development projects: Investment Minister Sahar Nasr signed two agreements worth EGP 1 bn (KWD 17.5 mn) with the Kuwait Fund for Arab Economic Development yesterday to support development projects in North Sinai, a ministry statement says. Under the first agreement, KWD 12.5 mn will […]

Egypt apparently has the 40th best international image in the world, beating out all other Arab countries in the latest survey by the Nation Brands Index. The survey measures how people view a country across six categories: governance, people, tourism, culture and heritage, investment and immigration, and exports.

Zimbabwe’s Robert Mugabe refused to resign on Sunday, but “instead delivered a meandering speech on state television that made clear the 93-year-old leader has no plans to leave power,” the Washington Post reports. Earlier in the day, Mugabe’s own ZANU-PF had dismissed him from the party, warning him to resign by noon on Monday or […]