Author Archives: enterpriseam admin

BP could invest another USD 13 bn in Egypt over the next five years, according to a statement from the British Embassy, with UK ambassador John Casson saying that this is “evidence that the UK is committed to further deepening cooperation and supporting Egypt’s economic growth.” Casson and UK Trade Envoy Sir Jeffrey Donaldson attended […]

EBRD loan will strengthen Emirates NBD Egypt capital base: The European Bank for Reconstruction and Development (EBRD) is providing Emirates NBD Egypt with a USD 125 mn subordinated loan to strengthen the bank’s capital base, EBRD said in a statement. The EBRD financing package consists of two tranches: USD 50 mn already committed to strengthen […]

Accelero Capital announced it acquired the ownership interest of its largest shareholder, Orascom TMT Investments (OTMTI), in a management buyout. In addition to the changes in Accelero Capital’s ownership structure, the transaction also includes the discontinuation of the management of certain assets for which Accelero Capital provided management, consultancy, and advisory services. OTMTI will remain […]

Hypermarket chain Spinneys expands to Upper Egypt, will launch another Cairo store next month: Hypermarket chain Spinneys is expanding to Upper Egypt by opening a new store in Minya. The company said the opening of its Minya store, its first in Upper Egypt, marks “an important milestone” as it kick-starts its expansion across the country […]

Let’s go skiing in Cairo: Majid Al Futtaim announced that the Mall of Egypt, which is slated to have the country’s first indoor ski slope, will open on 2 March.

MOVES- Ahmed Shalaby, Managing Director of Tatweer Misr, was appointed Vice President and non-voting board member of non-profit organization the International Council for Small Business (ICSB). Shalaby retains his position at Tatweer Misr, but will work closely with ICSB to establish several international universities in Egypt, according to an emailed statement.

Leading private-sector bank CIB will hold its annual general meeting on 14 March to discuss dividend distribution for FY2016, according to a regulatory filing. CIB’s board has recommended a dividend payout of EGP 0.50 per share.

Is Naguib in trouble with the Free Egyptians Party? Naguib Sawiris is facing “scrutiny” from the Free Egyptians Party’s disciplinary committee for calling an unsanctioned press conference to announce his return to politics. He’s also in hot water for allegedly criticizing the party (of which he was a very high profile founder) in public. Anyone […]

Responding to Trump, UN secretary-general says “no plan ‘B’” to two-state solutionduring visit to Cairo: The Israeli-Palestine conflict dominated United Nations Secretary-General António Guterres’ statements during a speech at Cairo University last night and his meeting with President Abdel Fattah El Sisi, Reuters reports. Guterres stressed that “there is no plan B other than the […]