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Egypt: consumers can now take out debt to finance insurance, sporting club memberships
REGULATION WATCH- Consumers can now take out debt to finance sporting club memberships, insurance policies: The Financial Regulatory Authority (FRA)…
Banking
Beltone to launch three NBFS firms next month, eyeing return to profitability
Beltone Financial Holding will set up three new non-banking financial companies in September in a bid to return to profitability,…
Spinning and Weaving Holding co. set to receive EUR 540 mn loan this month
State-owned Holding Company for Spinning and Weaving is expected to receive by the end of this month a EUR 540…
EFG’s ValU is in talks with Egyptian banks for EGP 250 mn credit facility
EFG Hermes’ e-finance platform ValU is currently in talks with several unnamed banks for a new EGP 250 mn credit…
New guidelines for clearing and depository companies’ boards
Companies licensed to provide clearing and depository services will now be required to elect a board of directors with a…
Egypt earmarks EGP 1.2 bn in financing for the country’s natgas transition
Gov’t, CBE lay down framework for EGP 1.2 bn on-lending program for the country’s natgas transition: The Trade and Industry…
Bank Audi denies reports of resumed acquisition talks with FAB
M&A WATCH- Bank Audi has not resumed talks with suitors interested in its Egypt assets since its shelved negotiations with…
Earnings Watch: Orascom Development Egypt, Rameda, Fawry, B Investments, Raya, Beltone, ADIB, Oriental Weavers, GSK
EARNINGS WATCH- Rameda Pharma reported 54% bottom line growth in 2Q2020, with net profits rising to EGP 19.9 mn from…
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