The EGX30 rose 0.2% at today’s close on turnover of EGP 8.4 bn (43.2% above the 90-day average). International investors were the sole net sellers. The index is up 20.4% YTD. In the green: Heliopolis Housing (+3.9%), Telecom Egypt (+2.2%), and EFG Holding (+2.0%). In the red: Edita (-2.3%), Ibnsina Pharma (-2.0%), and Qalaa Holdings […]
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🗓️ FEBRUARY 6 December - 15 February (Saturday-Sunday): Cairo Prints at Cairopolitan in Garden City. 11-15 February (Wednesday-Sunday): Animatex at AUC Tahrir Square. 12 February (Thursday): Wael Jassar - Valentine’s Day Gala at Cairo Opera House, Zamalek. 12-14 February (Thursday-Saturday): The Garden Market at East View Mall, New Cairo. 12-15 February (Thursday-Sunday): Thai Food Bazaar […]
Egypt plans a major government overhaul while keeping the core economic architects in place
Good morning, folks. Bring your reading glasses and first hit of caffeine. Today’s issue is a bit of a marathon, from an “extensive” cabinet shake-up on its way to why our dream of a 25% drop in apartment prices might remain just that — a dream. We also dive into how Egyptian professionals are looking […]
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Egypt signals an end to fire sales with USD 420 mn Gabal El Zeit exit
The government is set to announce the completion of the sale of the 580 MW Gabal El Zeit wind power complex to the UAE-based Alcazar Energy within days, a senior government official tells EnterpriseAM. Alcazar did not respond to a request for comment by the time of publication. The transaction, a cornerstone of Egypt’s state […]
The Egypt Startup Charter introduces USD 1 bn unified financing push to catalyze venture capital inflows
The roadmap aims to enable 5k startups and cultivate five homegrown unicorns over the next five years
Real estate leaders argue that Egypt’s market friction is a natural cycle rather than a structural crisis
“What is happening in the market is a filtration, a correction,” Orascom Development’s Hazem Helal said