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06-07 November (Monday-Tuesday): Crisis Communications Conference, Four Seasons Nile Plaza Hotel, Cairo. 06-09 November (Monday-Thursday): EFG Hermes’ 7th Annual London Conference on 6-9 November, Arsenal’s Emirates Stadium. 14 November (Tuesday): SEMED Business Forum: Investing for Sustainable Growth, Conrad Hotel, Cairo. 16 November (Thursday): Central Bank of Egypt’s Monetary Policy Committee to review policy rates. 19-21 […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
What we’re tracking on 06 November 2017
Three things we see driving newsflow today: 1) In Egypt, the first full day of the World Youth Forum. The sheer concentration of Egyptian politicos and business figures in one place will guarantee flow. President Abdel Fattah El Sisi spoke at the opening ceremony last night in Sharm El Sheikh, Al Masry Al Youm reports. […]
Posted inON THE HORIZON
On the horizon
The Central Bank of Egypt will review interest rates a week from Thursday when its Monetary Policy Committee convenes. Our take: Expect no rate cut before MPC’s 28 December meeting, by which time a year of post-float inflation data will be in the bag. With inflation on a still-declining trend (remember: ain’t the same thing […]
Posted inEnterprise+: Last Night’s Talk Shows
The World Youth Forum was, without exception, on every talking head’s agenda
Much like the rest of the domestic press yesterday, the airwaves were saturated with coverage of the World Youth Forum that President Abdel Fattah El Sisi inaugurated in Sharm El Sheikh last night. These included: Kol Youm’s Amr Adib piled on the praise, saying the event gave Egypt the opportunity to show itself in a […]
Posted inSpeed Round
Business confidence at 26-month high, PMI reading shows
Business confidence in Egypt hit a 26-month high, “signalling strong optimism towards future growth prospects, with many expecting economic stability over the coming year,” according to October’s reading of the Emirates NBD PMI. Contractions in output, new orders, and employment all eased, the report showed even though they were “muted in comparison to the historical […]
Posted inSpeed Round
MAF looking to raise capital, borrow from parent to retire Mall of Egypt debt
More companies raising equity to retire debt: Mall of Egypt owner Majid Al Futtaim (MAF) Group has notified banks it is looking to begin the process to repay EGP 3 bn in loans ahead of schedule, Al Mal reports. MAF obtained the funding in 2014 from a consortium of 11 banks led by Banque Misr […]
Posted inSpeed Round
Orange Egypt’s board approves major capital increase through additional share issuance
Orange Egypt’s board approves major capital increase through additional share issuance: Orange Egypt’s board of directors approved a capital increase yesterday, according to a bourse disclosure. The telco will be raising issued capital to EGP 16.4 bn from EGP 1 bn, and authorized capital to EGP 20 bn from EGP 2 bn through a share […]
Posted inSpeed Round
12 funds acquire 53% of Dice shares
IPO WATCH- A group of 12 Gulf and international institutions have reportedly been allocated stakes equivalent to 53% of Dice Sport and Casual Wear as part of the company’s ongoing IPO, taking all of the 28.089 mn shares in the institutional offering, Al Mal reports. Rasmala and EFG Hermes are among those who took positions, […]
Posted inSpeed Round
Knock Mart partners with Jumia to launch online groceries portal
Online retailer Jumia Egypt and online grocery delivery specialist Knock Mart will launch together Jumia Fresh, an online groceries and household goods portal, Al Masry Al Youm reports. The partnership will allow the companies to offer fresh food products online and support SME partners, Knock Mart’s CEO and founder Ahmed Taher says. Taher notes that […]