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Africa’s stock investors are turning to Egypt and away from Kenya, Adelaide Changole writes for Bloomberg. The EGX30 is at its highest level relative to Kenya’s benchmark index since 2008 following the flotation of the EGP. Rencap chief economist Charles Robertson says the Kenyan government’s decision to impose a cap on lending rates along with […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Trade and Industry Ministry’s export strategy for Africa shows bns in missed export opportunities
The Trade and Industry Ministry has its strategy to develop export markets in Africa, said minister Tarek Kabil. The strategy has identified export opportunities worth approximately USD 18 bn dollars, which is five-fold the current value of our exports to the continent, Al Ahram reports. According to the strategy, Egypt should be capitalizing on food, […]
Posted inSpeed Round
Vodafone Egypt claims it has met all conditions to roll out 4G nationwide, MNOs asked to halt 4G trials on 3G bandwidth
Vodafone becomes first company authorized to launch 4G nationwide: Vodafone Egypt announced that it has met all the necessary conditions to roll out its 4G services nationwide, making it the only company in Egypt authorized to launch the service, Al Mal reports. Separately, the National Telecommunications Regulatory Authority (NTRA) has asked mobile network operators (MNOs) […]
Posted inSpeed Round
CPA refers Jumia to prosecution over unlicensed meds sales
The Consumer Protection Authority (CPA) has referred e-commerce platform Jumia to prosecution for offering unlicensed painkillers after a customer shopping on Jumia lodged a complaint with the CPA, Al Borsa reports. Jumia’s CEO has denied the company is legally responsible for the incident, which he believes is nothing more than a conflict between competing pharmacies, […]
Posted inSpeed Round
Air France receives approval to repatriate profits, takes devaluation hit
Air France was allowed to repatriate some of its profits in Egypt abroad, but had to absorb the impact of the EGP devaluation, Air France KLM’s Egypt Country Manager Cees Ursem told Al Borsa. The company received approvals to repatriate its profits although it has only opted to transfer a small amount, Ursem says. He […]
Posted inSpeed Round
New investments lined up at Davos
The tally from Davos: Like that favorite uncle who comes home from abroad bearing gifts, the Egyptian delegation to the World Economic Forum has returned with some promising leads. The Swiss Agency for Development and Cooperation (SDC) is investing EGP 1.6 bn in Egypt in the coming four years, said SDC director Manuel Sager following […]
Posted inSpeed Round
Suez Canal revenues fall in 2016
Suez Canal revenues dropped by USD 170 mn y-o-y to record USD 5.01 bn in 2016, Reuters’ calculations showed. The canal generated USD 5.18 bn in 2015.
Posted inUncategorized
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Posted inEGYPT IN THE NEWS
Iraq is courting Egypt into joining the Axis of Resistance
While tensions between Egypt and Saudi Arabia are high, Iran is seen as pushing Iraq to broker Egypt’s inclusion into the so-called “Axis of Resistance,” writes Mustafa Saadoun for Al-Monitor. The axis can provide Egypt with cheaper oil than Saudi Arabia could, he adds. Rapprochement between the countries could mean an alliance to fight terrorism […]
Posted inEGYPT IN THE NEWS
Egypt in the spotlight for last minute goal against Uganda in AFCON
Egypt’s last minute 1-0 win over Uganda in the African Cup of Nations was featured heavily the international press overnight, with many, including Reuters, BBC, ESPN, Eurosport, Yahoo Sports, Sports24, and Goal.com.