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A delegation from the African Development Bank will arrive in Cairo on Monday, 2 October to discuss disbursing the third and final USD 500 mn tranche of its USD 1.5 bn loan, Ahram Gate reports. Rumor has it that the German government will sign off on a USD 250 mn loan to Egypt in two […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
Fuel subsidy cuts and their return top concerns on the airwaves
The talking heads are worried we may soon face another round of fuel subsidy cuts. Hiking fuel prices will not be necessary this fiscal year in light of current international oil prices and the FX rate, Finance Minister Amr El Garhy told Lama Gebril, who stepped in for Lamees Al Hadidi on Hona Al Asema […]
Posted inSpeed Round
Egypt climbs 15 places on WEF’s GCI
15-place improvement for Egypt on Global Competitiveness Index: Egypt ranks 100th out of 137 countries on the World Economic Forum (WEF)’s Global Competitiveness Index (GCI), an improvement from last year’s reportthat had it in 115th place. The most problematic factors for doing business in Egypt continue to be policy instability, inflation, corruption, government bureaucracy, and […]
Posted inSpeed Round
Ismail cabinet approves USD 7 bn eurobond program
The Ismail cabinet signed off on a planned USD 7 bn eurobond program for FY2017-18, Prime Minister Sherif Ismail told the state-owned MENA news service yesterday, Reuters reports. The size and currency of the issuance, which will be used to plug the budget deficit, will be determined in the coming few weeks, he added. Finance […]
Posted inSpeed Round
Fertilizer producer Evergrow to build new EGP 9.5 bn fertilizer plant in Egypt
INVESTMENT WATCH- Evergrow to invest EGP 9.5 bn in new fertilizer plant withtwo foreign partners. Fertilizer producer Evergrow is investing EGP 9.5 bn to build a new plant in Egypt, Trade and Industry Minister Tarek Kabil said yesterday, according to a statement picked up by Reuters. The plant is expected to begin operations by 2020, […]
Posted inSpeed Round
USAID signs USD 121.6 mn worth of agreements with Investment Ministry
Thank you, Amreeka: Investment and International Cooperation Minister Sahar Nasr signed eight economic agreements with USAID worth a total of USD 121.6 mn. The funding will go towards investment, education, health, agriculture, and water, the Ministry says. The agreement “emphasized strategic and strong relations between Egypt and the US, asserting that they were based on […]
Posted inSpeed Round
UK wheat producers looking to increase exports to Egypt
Brexit is driving UK wheat producers to try to open Egypt as an export market, Manisha Jha writes from Bloomberg. As things stand, the European Union is the top destination for UK wheat, but things could change once the UK exits the EU. A UK trade delegation arrived to Cairo yesterday to showcase British flour […]
Posted inSpeed Round
Is the healthcare sector on the cusp of a boon in 2018?
Is the healthcare sector on the cusp of a boom in 2018? The healthcare sector is expected to see an upswing in both M&A activity and fresh investment this coming year, a number of industry insiders tell Al Borsa. This follows a disappointing eight months in which M&A and investment dropped significantly. After Cleopatra Hospitals […]
Posted inSpeed Round
Hassan Fahmi appointed CEO of Novo Nordisk Egypt
MOVES- Danish pharma manufacturer Novo Nordisk has appointed Hassan Fahmias new Egypt CEO, according to a statement picked up by Al Borsa. Fahmi, who has been the company’s country VP and general manager since August, has over 20 years of experience in the industry and has helped the company grow its Egypt sales figures and […]
Posted inSpeed Round
Microbuses being phased out?
Microbuses being phased out? Glory Hallelujah: The Transport Ministry is drawing up a plan to gradually rid Cairo’s streets of what it charmingly refers to as “random transport options,” — including the warthogs of the streets that are microbuses and collective gypsy cabs — in a bid to reduce traffic in our fair city, Al […]