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MNOs to meet with NTRA on Wednesday to redistribute 3G frequencies: The National Telecommunication Regulatory Authority will be meeting with the nation’s mobile network operators on Wednesday to discuss the geographic redistribution of 3G frequencies, Al Mal reports. MNOs are expecting to receive 4G frequencies this month once they redistribute frequencies and after Vodafone Egypt […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
Qatar, Tiran and Sanafir dominate the debate
Egypt’s two main sagas of the season — Qatar and the Tiran and Sanafir handover agreement — reigned supreme on the airwaves last night. There seems to be widespread consensus among MPs to vote in favor of handing the islands over to Saudi Arabia, Parliamentary Affairs Minister Omar Marwan told Lamees Al Hadidi on CBC […]
Posted inSpeed Round
World Bank says Egypt’s economy will grow at a 5.3% clip by 2019
Good news from the World Bank, which is projecting that Egypt’s GDP will grow at a 5.3% clip in 2019. The institution made the forecast in its monthly Global Economic Prospects report for June (pdf). The bank estimated Egypt's GDP would grow 3.9% in FY2016-17, in line with government projections. The bank sees the growth […]
Posted inSpeed Round
EFG Hermes looking to enter Nigeria through acquisition
BROKERAGE WATCH- EFG Hermes is looking to expand into Nigeria through an acquisition, Ali Khalpey, CEO of EFG Hermes' Frontier market unit, told Reuters. Khalpey added that EFG Hermes also expects to get regulatory approval to start a brokerage business in Kenya this year as part of a big push into frontier markets. The investment […]
Posted inSpeed Round
Hero looking to increase sales to EGP 1 bn from EGP 720 mn in 2017
INVESTMENT WATCH- Hero Middle East & Africa targets sales of EGP 1 bn, may open baby food plant: We sat down with Hero Middle East & Africa Managing Director Mahmoud Bazan yesterday, who tells us that the company is targeting 2017 sales of EGP 1 bn, up from EGP 720 mn last year. He also […]
Posted inSpeed Round
Manufacturers delay investments due to Central Bank’s interest rate hike
Others are not so sanguine, saying high interest rates are prompting them to delay capex outlays. Some manufacturers have reportedly put planned investments on hold after the central bank hiked key interest rates by 200 bps last month, Al Borsa says. Alfa Ceramics is planning to cut investment in new production lines this year to […]
Posted inSpeed Round
Fuel prices could rise by EGP 1 per litre come July
Hello, inflation: Petrol prices to go up in July? The price of 92-grade octane petrol will rise at the pumps by EGP 1 per liter to EGP 4.5 per liter starting 1 July, government sources tell Al Mal. The price of 80-grade octane will also increase as the government moves ahead with its plan to […]
Posted inSpeed Round
ISPs look to extend their VAT exemption
ISPs look for another year of VAT exemption, citing unfair market practices by TE Data: The country’s private internet service providers are asking the ICT Ministry to go to bat for them with the Finance Ministry to extend their one-year exemption from the value-added tax (VAT) for a second fiscal year, Al Borsa reports. The […]
Posted inSpeed Round
Egypt needs to strengthen rule of law to attract investors, German economy minister says
El Sisi pitches investment opportunities in Berlin: President Abdel Fattah El Sisi urged German companies on Monday to capitalize on investment opportunities and build industrial zones in Egypt, highlighting his administration’s economic reform drive and efforts to improve the country’s business climate, according to an emailed Ittihadiya statement. In his opening speech at the fourth […]
Posted inSpeed Round
Bahaa Eldin joins MM’s board
MOVES- MM Group for Industry and International Trade approved the appointment of lawyer and former Deputy Prime Minister Ziad Bahaa Eldin as a non-executive board member of the company, according to a regulatory filing.