Author Archives: enterpriseam admin

Edita Food Industries announced the inauguration of its E08 factory in the Polaris Al Zamil district in Sixth of October and the commissioning of its new wafer line. Edita says the factory is its fifth and “is set to house around 11 new production lines. The factory will deploy state-of-the-art technology and is in compliance […]

Arafa Holding has “no plans to inject any new investments in Egypt” in the coming period following the central bank’s decision to raise interest rates, Chairman and CEO Alaa Arafa told Al Shorouk. The cost of capital at the moment is not conducive to new investment, Arafa said, adding that no project can now be […]

The Ismail government has ordered the closure of market research firm Ipsos’ Cairo office, citing workplace health and safety violations, according to Reuters. A spokesman for the Manpower Ministry confirmed the ministry had ordered Ispsos closed in a decree handed down on 20 June. The spokesman also says the authorities have not yet carried out […]

Under cost pressure, the Oil Ministry has scaled back its target for the number of homes it will connect to the national natural gas grid in FY2017-18, aiming to hook up some 600k, down from a previously planned 1 mn, undersecretary for gas projects Mohamed Hassanein Radwan tells Youm7. The reduced target comes as the […]

IPO WATCH- 10 state-owned companies will list under the government’s IPO program over the next three years, Investment and International Cooperation Minister Sahar Nasr said on Sunday, according to Al Mal. These companies will list 10-20% of their shares, which imply a cap of 20% on all state IPOs. The first of these companies to […]

IPO WATCH- The Egyptian Propylene & Polypropylene Company (EPPC) is expecting to rake in USD 300 mn from its planned IPO in 1Q2018, Karim Saada, country head of MENA private equity firm Amwal Al Khaleej, tells Daily News Egypt. EFG Hermes was tapped as the lead manager for the listing. The proceeds from the IPO […]

INVESTMENT WATCH- Cairo Angels is investing in Egypt-based shipment platform Bosta, according to Forbes Middle East. The report did not disclose the investment value, but says it followed Numu Capital’s decision to invest in the startup. Bosta is a logistics tech company that allows customers to send and receive shipments and track them online. “We […]

EFG Hermes Research announced it topped the leaderboard of Institutional Investor’s 2017 EMEA Investor Poll and came in second on the Thomson Reuters Emerging Markets Extel Survey. The investment bank also said it recently initiated coverage of Vietnamese banks, 11 Egyptian small and mid-cap stocks and introduced economic analysis on frontier markets, including Pakistan and […]

The Egyptian Media Production City (EMPC) resumed broadcasting Al Hayat TV channels yesterday after the television network’s chairman Al Sayed Badawi repaid its debts to EMPC, Ahram Gate reports. EMPC had decided earlier this month to cut off services provided to the network, including electricity, due to EGP 20 mn in overdue payments, pushing the […]

Lobna Helal, Mona El Garf, Mona Zulficar make Forbes power list: CBE Deputy Governor Lobna Helal was ranked second on Forbes Middle East’s list of the 100 Most Powerful Arab Businesswomen. Egyptian Competition Authority chief Mona El Garf was placed 20th, and Zulficar & Partners founding partner and EFG Hermes non-executive chairperson Mona Zulficar is […]