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Earnings: Fawry, PHD, Al Ahly for Development and Investment, ADIB, Misr Cement (Qena)
EARNINGS WATCH- Fawry’s net profit surged 99% y-o-y in 9M2020 to EGP 119.1 mn from EGP 59.7 mn last year,…
Raya close to offloading recycling subsidiary BariQ
M&A WATCH- Raya Holding looks poised to sell the entirety of its recycling subsidiary BariQ to an unnamed foriegn investor…
New regulatory framework for SME lenders announced
REGULATION WATCH- SME lenders will need to be set up as joint-stock companies with a minimum capital of EGP 30…
Raseedy rolls out independent digital wallet with SAIB Bank, Mastercard
Cairo-based telecoms app Raseedy has launched a digital wallet in partnership with SAIB Bank and Mastercard, according to a press…
OIH shareholders approve demerger, move to list OFH on Egypt’s bourse
DEMERGER WATCH- Look for Orascom Investment Holding’s focus on financial services to be clearer now that shareholders have approved the…
Egypt’s CIB taps JP Morgan’s Jay-Michael Baslow as non-exec board member
MOVES- CIB has asked Jay-Michael Baslow (LinkedIn) to join its board of directors as a non-executive, independent member, the banksaid.…
Raya mulls listing Aman on EGX in 2021
IPO WATCH- Raya mulls listing Aman on EGX in 2021: Raya Holding could debut its non-banking financial service business outfit…
Covid is slowing the pace of foreign investment in Egypt
Covid is slowing the pace of foreign direct investment in Egypt, two announcements yesterday suggest. Kuwait’s Arzan Financial Group has…
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