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New Visa report highlights crucial financial trends for Egypt’s SMEs
SMEs make up 98% of companies operating in Egypt, employing over 47 mn Egyptians
EFG Hermes tops the bourse brokerage league table in June
EFG Hermes has topped the table for over a year
Valu raises EGP 1.2 bn in securitized bond issuance
The issuance is part of a larger EGP 9 bn program
Turkish USD 700 mn denim factory gets gov’t greenlight. PLUS: Ades inks drilling contract, Forbes International Tower to cost USD 1 bn, Sahl eyes digital banking license, Alwady Green heads to KSA
The factory will be built on an area of 100k sqm and will provide around 5k jobs during its first…
iSupply secures USD 1 mn in funding
The funding round brings the firm’s total raised capital to USD 2.5 mn
Fintech player Sahl closes USD 6 mn in funding round led by the state’s Ayady Investments
The company allows users to pay their utility bills through a mobile app
Government rejects proposal to hike the price of subsidized sugar. PLUS: HSBC + Juhayna, Nokia, Samih Sawiris’ FTI Touristik, EgyptAir, Podcast Productions
The state currently spends more than EGP 23 in subsidies on every kilo of subsidized sugar
International Holding Company subsidiary Palm Sport to operate Al Ahly’s El Qalaa El Hamraa. PLUS: EGP 5 bn aluminum factory, trade talks with Russia, startups news galore
The EGP 12 bn sports city complex in Sheikh Zayed will house Al Ahly’s new 44-k seat home stadium
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