Author Archives: enterpriseam admin

Private equity firm Actis is planning to acquire stakes in companies in banking, food industries, health and education, Partner Sherif El Kholy tells Al Shorouk. Investments in renewable energy and education will be financed by the firm’s USD 1.6 bn Actis 4 Fund which. The company also plans to launch a new investment fund in […]

MOVES- Shake up at Orange Egypt: Orange Egypt Chairman Atef Helmy’s has resigned from his position, according to a bourse statement by the company’s board. The board appointed Bruno Mettling, who had previously served as Vice Chairman, as Helmy’s successor. No explanation was given as to the sudden departure of the former ICT Minister, which […]

EARNINGS WATCH- Orascom Telecom Media and Technology Holding (OTMT) reported a 7x increase in net profit for 1Q2017, which came in at EGP 388.5 mn, up from EGP 48.7 mn in 1Q2016, according to the company’s consolidated financial statements (pdf). The growth in bottom line is likely owed to revenues growing nearly three-fold to EGP […]

The number of online shoppers in the Middle East grew 6% between 2013-17, says Pricewaterhouse Cooper’s latest Middle East Retail Survey. With around 29% of Middle East consumers now shopping online each month, the region’s retail sector is undergoing some “game changing developments” that are giving rise to numerous opportunities. “The appetite for investing in […]

Is Egypt planning a political shakeup in Gaza? President Abdel Fattah El Sisi met with Palestinian President Mahmoud Abbas in Cairo yesterday, according to an Ittihadiya statement. While the official statement “stuck to generalities,” some sources close to Abbas say the two presidents talked about the power-sharing agreement between Hamas rulers and exiled Mohammed Dahlan, […]

Who do we have to do unmentionable things to to bring our laptops on flights to the US? It appears all the countries who have been slapped with a ban on carrying laptops on flights to the US have been given at least a tentative exemption from the ban, with the exception of Egypt. Royal […]

Apache sells Canadian unit to focus on Egypt, US, North Sea: Canadian oil producer Paramount Resources has made an offer to acquire the Canadian subsidiary of Apache Corporation for USD 353.7 mn. The move comes as part of Apache’s move to streamline and focus on its operations in Egypt, the United States, and the North […]

Other International news worth noting in brief include: Iraqi Prime Minister Haider al-Abadi declared Mosul officially liberated of Daeshbags on Sunday, in an announcement in the city itself, according to Reuters. The on-gain, off-again bromance between US President Donald Trump and Russia’s Vladimir Putin is back on again, after the two were figuratively canoodling at […]