Author Archives: enterpriseam admin

Demand for Egyptian agricultural exports is rising: Demand is up and new markets are opening for agricultural exports four months after the EGP float, writes Reuters’ Arwa Gaballa. "Demand has doubled, with every product gaining one or two markets," says Mostafa al-Naggari, chairman of Fresh Fruit Co. Exporter PICO Modern Agriculture Co also says demand […]

IPO Watch- MM Group for Industry and International Trade will list 25% of its shares on the EGX in March, Beltone Financial investment banking’s Mohamed El Akhdar told Al Mal. El Akhdar says EFSA has approved a fair value assessment for the company of EGP 6.75 per share, giving MM Group a total value of […]

M&A Watch- Nestlé SA has closed the acquisition of Caravan Marketing Company on Thursday when it paid EGP 364.88 mn to complete the transaction, according to Al Borsa. Nestlé had announced it is acquiring Caravan, the owner of the Bonjorno instant coffee brand, in January. Reports at the time valued the transaction at EGP 400-500 […]

Egypt’s oil and gas sector needs a 21st century revamp, James House, senior regional vice president of Apache told Platts. The country needs to rethink its JV model, which, he says "tethered" in various ways to state agencies, was a "limiter" to progress, and welcomed a recent initiative by the Oil Ministry to look at […]

Juhayna is cutting investments in 2017 because it believes Egyptian consumers’ purchase power is being eroded, Ehab Farouk writes for Reuters. CEO Seif El Din Thabet told Farouk Juhayna will raise prices by 5-10% this year as he expects 1Q2017’s profits to fall, before beginning to improve in 2Q2017. "We have invested around [EGP 450 […]

Meanwhile, Cheese maker Obour Land announced it could reduce prices by up to 15% if the EGP continues to appreciate to rate of EGP 15 per USD 1, Chairman Mohamed Hamed told Al Borsa. He says the market fundamentals remain strong in Egypt and that consumption will continue to grow strongly “as we saw from […]

Russia and Egypt agreed to sign a civil aviation security protocol ahead of the anticipated resumption of air service between the two countries, but Egypt still needs to fulfill a laundry list of Russian requirements to upgrade airport security measures, Russian news agency TASS reports. The agreement allows Moscow to set up a committee made […]

With the 2018 presidential elections looming, the Free Egyptians Party carefully aims the .45 at its right foot… Egyptian political parties never seem to miss an opportunity to miss an opportunity, so why should this year be any different? The spat between bn’aire Naguib Sawiris and the FEP (of which he is a founder) continues, […]