Author Archives: enterpriseam admin

INVESTMENT WATCH- Is Mercedes-Benz really back? The automaker, which suspended assembly in Egypt in 2015 as the FX crisis deepened, has apparently agreed to reopen assembly operations in Egypt, Suez Canal Economic Zone (SCZone) Chairman Mohab Mamish announced in a presser on Tuesday to much fanfare. He added that 96,000 sqm have been allocated to […]

Council of State completes its review the executive regulations to the Investment Act: The Council of State (Maglis Al Dawla)’s legislative committee has completed its review of the Investment Act’s executive regs and will send them back to the Ismail cabinet this week,sources tell Al Borsa. Investment Minister Sahar Nasr had promised that the regs […]

European execs, fund managers mull increase in Egyptian investments: There’s good appetite for Egypt among corporations and fund managers, whether that takes the form of strategic investment or inflows into T-bills and eurobonds, according to a Finance Ministry statement issued after Amr El Garhy met yesterday with investors from the UK, France, the Netherlands, Denmark, […]

ERC to shift focus towards real estate development outside of Sahl Hasheesh for the first time? Egyptian Resorts Company is considering shifting its strategic focus towards real estate development beyond its flagship project of Sahl Hasheesh while the tourism industry recovers, CEO Wael Hatow tells Bloomberg in an interview. The company is too exposed to […]

Emerging markets specialist Renaissance Capital plans to begin operations in Egypt before the end of the year, Al Mal reports. CEO Ahmed Badr says Rencap has already applied for operating licenses from EFSA and the company is now finalising the setting up processes in Egypt. Badr also noted that Rencap has no plans to enter […]

INVESTMENT WATCH- Ezdehar is in talks with the IFC for a USD 10-15 mn commitment to its inaugural Ezdehar Egypt Mid-Cap fund, sources told Al Mal. A delegation from the IFC will be in Egypt in October to resume talks. The source add that Ezdehar has acquired a majority stake in aluminum fabricator Alu Nile […]

M&A WATCH- Infinity Solar has acquired a 97% stake in TAQA Arabia subsidiary TAQA Solar Resort in a EGP 50 mn transaction, Al Borsa reports. The acquisition comes as Infinity is nearing financial close for a 50 MW solar power plant in Fayoum under phase two of the feed-in tariff (FiT) project well ahead of […]

Okay, UK. Time to put up, or shut up: A very rightfully frustrated Egyptian government has renewed calls for the UK government to relax its ban on direct flights to Sharm El Sheikh after working closely with UK security officials for nearly two years to improve safety measures at its airports. Despite repeated and condescendingly […]

Supply Minister Ali El Moselhy unveiled his ministry’s strategy to overhaul the country’s domestic trade framework at an AmCham luncheon held yesterday. The strategy is particularly focused on logistics for agricultural commodities and appears to draw heavily on years of work on the question funded by USAID. Cutting spoilage from farm to table: The strategy […]

MOVES- Mohamed Abdel Aziz, an assistant to the Investment and International Cooperation Minister, has submitted his resignation, according to Al Masry Al Youm. Abdel Aziz was also a board member of GAFI as well as of the Electricity Holding Company and the Tourism Development Authority. Al Masry Al Youm says Minister Sahar Nasr accepted Abdel […]