Author Archives: enterpriseam admin

Egypt’s five-year credit default swaps tightened to 330 bps after falling by around 120 bps since the start of 2017, reflecting rapid improvement in the country’s risk perception, according to BNP Paribas’ Africa DCM Weekly Update. For the uninitiated: CDS are credit derivatives that are “similar to an insurance contract, providing the buyer with protection […]

The government is considering selling up to 49% Banque du Caire as part of the ongoing IPO process, Al Shorouk reports, citing unnamed “senior banking officials.” The offering will reportedly include an international offer to institutional investors (29%) and a domestic offer to retail investors on the EGX (15%), while 5% of the company’s shares […]

Egypt’s economy grew 3.8% in 2Q16-17, Planning Minister Hala El Said said yesterday, according to Reuters. The government will target a GDP growth rate of 5% in FY 2017-18 for the budget being prepared currently, she added, and the target will increase to 6-6.5% by 2020. El Said attributed the slowdown in economic growth in […]

Egyptian General Petroleum Company and Saudi Aramco are set to meet at the beginning of April to hammer out a schedule now that Saudi is once again shipping petroleum products to Egypt under a multiyear agreement, Al Masry Al Youm reports, citing unnamed Oil Ministry sources. Still unclear is whether the agreement will be extended […]

Egypt is focused on restoring the confidence of investors. That was the message stressed by President Abdel Fattah El Sisi in an interview that was the centerpiece of the Oxford Business Group’s report on Egypt (paywall) which came out yesterday. El Sisi reiterated that partnership with the private sector is key to sustainable economic growth […]

Committees given a one-year mandate to resolve tax disputes have so far settled 450 cases worth a combined EGP 1.5 bn, according to a Finance Ministry statement citing Deputy Finance Minister Amr El Monayer. The committees’ decisions in the disputes will also serve as legal precedents in tax cases in the future, according to El […]

Our top real estate searches last year were Sheikh Zayed, Maadi, Nasr City, Fifth Settlement, and Heliopolis, according to the results of a report from classified ads company OLX (pdf). “In general, we can say that there is a migration from Central Cairo and Giza to the outskirts with residential supply there growing from 113,000 […]

House to hold hearing on shipping line pullout from East Port Said Port: The House Transportation Committee summoned Transportation Minister Hisham Arafat to discuss next Sunday a move by five major shipping lines to transfer activities to a Greek port rather than continue to serve East Port Said port, according to Al Borsa. Mitsui O.S.K. […]

The universal healthcare act should be ready for nationwide implementation by 4Q2017, Prime Minister Sherif Ismail told reporters on Sunday, according to Ahram Gate. Cabinet will discuss the program at its next meeting before sending it to the Council of State for review. The results of the actuarial studies on the implementation of universal healthcare […]