Author Archives: enterpriseam admin

Farid tells London fund managers to look for non-oil FDI boom: EGX Chairman Mohamed Farid met in London on Sunday with fund managers from 10 UK and US-based real-money investment funds including Fidelity, Metlife, and Aberdeen Standard, with an aggregate AUM of USD 3.9 tn for a roundtable debate organized by BNP Paribas. The IPO […]

Amendments to CBE and Banking Act could impose mid-term confidence votes on bank board of directors: It’s not just managing directors of banks who should be watching amendments to the CBE and Banking Act with a wary eye, but board members as well. The amendments will include provisions that impose mid-term confidence votes on banking […]

Emerging markets private equity giant the Abraaj Group is eyeing new investments in Egypt's education sector, Managing Partner and Global Head of Private Equity Mustafa Abdel-Wadood tells Al Borsa. Abdel-Wadood suggested the vehicles for follow-on investment will be education provider Tiba, which owns Thebes Language Schools, and Cairo For Investment & Real Estate Development. Abraaj […]

The Universal Healthcare Act will cost EGP 600 bn to fully implement, said Vice Minister of Finance Mohamed Maait in an interview with Al Ahram on the new bill. The state will cover healthcare of citizens who will be unable to pay premiums into the system to the tune of EGP 200 bn, he added. […]

The UK reportedly plans on lifting its travel ban on Sharm El Sheikh as of February 2018, British tour operators told their Egyptian counterparts, unnamed industry sources tell Al Shorouk. According to the sources, 40 members of the House of Lords — the upper house of British parliament — have been lobbying the British government […]

EARNINGS WATCH- Edita Food Industries reported strong bottom-line growth during 3Q2017, with net profit growing 47.4% y-o-y to EGP 66.7 mn. Net revenue for the quarter was up 35.8% y-o-y to EGP 832.2 mn on the back of the macroeconomic turnaround which has seen consumers adjust to recent inflationary pressures, the company said in a […]

CI Capital has entered into an agreement with Al Rajhi Capital (ARC) that “provides access to the Saudi equity capital market to CI Capital’s client base. The new partnership will leverage both firms’ growing reach and the breadth of their offerings in both the Saudi & Egyptian equity markets.” The agreement is part of CI […]

MOVES- The African Development Bank appointed Malinne Blomberg as the bank’s new Egypt Country Manager, Al Ahram reports. Blomberg, who replaces Leila Mokaddem, previously oversaw the bank’s irrigation and wastewater projects in west and central Africa, according to the newspaper.