Author Archives: enterpriseam admin

The Central Bank of Egypt’s Monetary Policy Committee left interest rates on hold at its Thursday meeting, in line with expectations. Overnight deposit and lending rates remained unchanged at 18.75% and 19.75%, respectively, with the discount rate also steady at 19.25%. The move indicates “that further declines in inflation were needed to warrant a shift […]

Middle East and Africa M&A activity is forecast to peak at USD 41 bn and domestic IPOs at USD 7 bn in 2019, according to Baker McKenzie’s Global Transactions Forecast report. The report expects Egypt to follow suit, suggesting we’ll see USD 1.084 bn in domestic M&A transactions in 2018, growing to USD 1.551 bn […]

Elsewedy Electric is working to grow its (already prodigious) exports and aims to establish six logistics warehouses in the next five years, CEO Ahmed El Sewedy told Reuters. El Sewedy said the warehouses would be in Zambia, Djibouti, Kenya and elsewhere. “The company is also studying expanding in Latin America, Kazakhstan, Indonesia and Pakistan within […]

M&A WATCH- Major NCMP shareholders accept Cairo Three A MTO, ADM might remain in pursuit: National Company for Maize Products (NCMP) shareholders Misr Capital Investments and National Bank of Egypt have accepted Cairo Three A’s mandatory tender offer to acquire their stakes in the company at EGP 51 per share, according to a bourse statement. […]

M&A WATCH- UAE-based private equity firm Gulf Capital is considering investing USD 110 mn in Egypt over the coming two years in the marine industries, logistics and infrastructure sectors, the firm’s Managing Director Walid Cherif tells Daily News Egypt. The company is in talks to acquire a stake worth USD 25-30 mn in port logistics […]

Only six suppliers presented offers in General Authority for Supply Commodities (GASC)’s wheat purchase tender on Thursday, Reuters reported. “Several major trading houses were absent with [traders] saying uncertainty about whether shipments will again be rejected because of Egypt’s food safety inspection system.” Reuters adds that Jean Philippe Everling, CEO of Italian trading house Casillo’s […]

The latest chapter in the Neverending Ergot Story comes as the Supply Ministry is looking to develop 75 wheat silos over the coming two years, Supply Minister Ali El Moselhy said on Saturday. Each silo will have a storage capacity of up to 5,000 tonnes, he added, according to Al Borsa. It is unclear whether […]

Kuwait officially lifts ban on Egyptian agricultural imports, to enforce stricter inspection measures: The Kuwaiti Trade and Industry Ministry announced on Thursday that it has lifted a ban it had imposed on Egyptian agricultural imports due to concerns over pesticide residue, Kuwait’s state news agency reports. The decision to lift the ban on Egyptian onions, […]

Nine prominent UAE investors are looking to grow their business in Egypt, they told Investment Minister Sahar Nasr and Suez Canal Economic Zone (SCZone) chief Mohab Mamish in meetings this weekend, according to a ministry statement. The minister, who was on a roadshow to the UAE to pitch potential projects to new investors, met with […]