Author Archives: enterpriseam admin

State-owned fixed-line monopoly Telecom Egypt reached an agreement yesterday to offer 2G, 3G, and 4G mobile services on Orange Egypt’s infrastructure, TE announced in a statement. The agreement includes an MoU for TE to use Orange Egypt’s infrastructure for five years, starting from the beginning of 2018, at a cost of EGP 2.5 bn, according […]

The never-ending saga of the Investment Act continues: The old adage that a camel is a horse designed by committee comes to mind this morning as we look for clarity on what the House of Representatives is doing with the Ismail government’s draft Investment Act. Approval by the House Economics Committee appears to be dragging […]

Egypt has been ranked the third most attractive investment destination in Africa by Africa-based investment management firm Quantum Global. Their research arm‚ Quantum Global Research Lab‚ sees Botswana as the most attractive destination, followed by Morocco in its Africa Investment Index (pdf). Egypt scored highly in the firm’s ease of doing business index, demographic factors […]

Agreements for the Daba’a nuclear power plant are ready for signing, Rosatom State Corporation General Director Alexey Likhachev said, according to Sputnik. “I can say for sure that in this case, the date of signing contracts depends on the Egyptian side. Technologically, we are ready for signing literally today,” Likhachev said. Egypt expects to sign […]

Hero Foods will begin shipping Vitrac jam to a food chain in the US market, Al Borsareports. Hero is targeting USD 10 mn in export sales to the United States over the next three years, Hero Middle East & Africa Managing Director Mahmoud Bazan says. The company wants to export products worth over EGP 500 […]

Automotive directive, exports could drive growth at one of Egypt’s largest glass manufacturers: Glass manufacturer Dr. Greiche wants to grow exports to beyond their 17% of sales by targeting African markets, Al Borsa reports. The company is targeting a 14.5% sales growth this year and says the automotive directive — which would give incentives to […]

Al Ahram chairman quits to protest interference by new regulator: Al Ahram Chairman Ahmed El Naggar has resigned to protest what he claimed is interference by the National Press Council in the management of the country’s newspapers, he tells Al Shorouk. According to El Naggar, the council requested that the newspapers’ managers not take any […]

MOVES- Real estate developer Abraj Misr has appointed former CIT Minister Hany Mahmoud to its board of directors, Al Mal reports. Others in the new board lineup include real estate development consultant Fathallah Fawzy, Multiples Investment Group founder and chairman Omar El Shenety, and former assistant chairman of Arab Contractors Medhat Askar. Mahmoud was recently […]

Hurghada sees significant growth in travel bookings in 1Q17: Travel bookings for Hurghada have seen significant growth rates during the first three months of the year, according to a report from Traveltainment. Bookings surged 102% year-on-year in January, followed by a 52% y-o-y growth rate in February and a 72% increase in March. “These growth […]

Egyptian-American charity worker Aya Hijazi was released from detention late on Tuesday, her lawyers told The Associated Press. A court had acquitted her two days earlier of charges of human trafficking and child abuse.