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Egypt is expected to be forming a new “rapid response force” to battle terror in Africa under an agreement with member states of the African Union, according to Middle East Online. The force would be “deployed anywhere on the continent” and primarily work to disrupt supply routes connecting militants in central and western Africa with […]
Author Archives: enterpriseam admin
Posted inEnergy
GE reaches financial close for USD 250 mn substations in New Cairo
General Electric (GE) said it has reached financial close on its USD 250 mn contract with the Egyptian Electricity Transmission Company to build four substations that will connect 7 GW of power to the national grid, Daily News Egypt reports. The project, which was signed for back in July 2016, will be funded by Deutsche […]
Posted inEnergy
Germany’s KSB to be awarded pumps supply contract for West Cairo power plant
Germany’s KSB will reportedly be awarded a contract to supply the 650 MW West Cairo power plant with pumps worth c. EGP 330 mn, Cairo Electricity Production Company officials tell Al Mal. The firm is expected to ink the agreement at the end of September. The plant is expected to come online in 2019 with […]
Posted inBasic Materials + Commodities
Agricultural Exports Council looks to get more companies to enforce GLOBALGAP standards
The Agricultural Exports Council is looking to have more Egyptian exporters apply the Global Good Agricultural Practices (GLOBALGAP) framework, which will enforce stronger inspection and quarantine measures on outgoing cargo, Al Mal reports. The council is in talks with companies to discuss their certification processes. The Trade Ministry had announced last month it would be […]
Posted inBasic Materials + Commodities
Egypt to issue tenders for 1.3 mn tonnes of wheat to bolster reserves
The Egyptian government will be issuing global tenders soon to purchase around 1.3 mn tonnes of wheat to cover its needs until harvest season in mid-April next year, an unidentified Supply Ministry official tells Reuters’ Arabic service. Egypt currently has wheat reserves to last until March 2018, he adds.
Posted inBasic Materials + Commodities
GASC purchases 16,500 tonnes of sunflower oil
The General Authority for Supply Commodities(GASC) bought 16,500 tons of sunflower oil,Al Mal reports. The price came in at just shy of USD 800 a ton for a total just under USD 14 mn.
Posted inHealth + Education
UAE’s The Big Heart Foundation grants USD 2 mn to healthcare projects in Egypt
The Big Heart Foundation, an Emirati humanitarian organization, is allocating a USD 2 mn grant for three healthcare projects in Egypt, which it will implement in cooperation with local bodies, Emirates news agency WAM reports with a rundown on the three projects.
Posted inTourism
Tourists’ average spending rises 7.5% y-o-y in 1H2017 to USD 88.2
Spending by the average visitor to Egypt rose by 7.5% y-o-y to USD 88.20 a day in 1H2017, Tourism Ministry officials tell Daily News Egypt. The increase was driven by a change in the tourist demographic visiting Egypt, they said, explaining that there has been an influx in visitors from Japan, China, and the Gulf […]
Posted inTelecoms + ICT
MNOs drafting technical framework to expand networks to administrative capital and other new projects
The National Telecommunications Regulatory Authority (NTRA) has asked telecom operators Vodafone, Orange, and Etisalat to begin preparing a technical framework and timeline for the planned expansion of their networks to cover new projects, including the new administrative capital, sources tell Al Mal.
Posted inBanking + Finance
CI Capital to increase Corplease stake to 86%
CI Capital Holding is days away from submitting an official request to the bourse to acquire an additional 14% stake in financial leasing subsidiary Corplease from the Union of French and Arab Banks (UBAF). The acquisition would bring CI Capital’s total stake in the firm up to 86%, Managing Director and Group Co-CEO Hazem Badran […]