Good morning, all. Today, we’re looking at a major shift in how the state handles healthcare, with the government moving to offer 62 hospital investment projects to the private sector. Also catching our attention, the Citizen Bond is already seeing strong first-day uptake — especially in the governorates.
For the sun-seekers, rooftop solar just got a lot more complicated with stricter local content rules and grid requirements that effectively end net-metering as we know it. The Parliament is also fine-tuning nuclear laws to make sure hospitals and universities don’t get hit by the same fee hikes as commercial ventures.
So, when do we eat? Maghrib prayers are at 5:50pm in the capital, and you’ll have until 5:00am tomorrow to hydrate and caffeinate ahead of fajr.
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WISH THIS MORNING’S ISSUE was a podcast? We’ve got you. Tap or click here to listen to Morning Drive, a 10-minute version of today’s issue crafted for you to enjoy with your morning coffee, while getting the kids ready for school, or while stomping around the house wondering where the [redacted] you left your [redacted] reading glasses.***
Watch this space
DEBT — Retail demand for the newly issued Citizen Bond gathered pace on the first day of the offering, with particularly strong uptake recorded in the governorates, a senior government official tells EnterpriseAM, adding that bonds will remain available until 8 March. Sales figures from post offices nationwide are still being tallied, but early indicators suggest broad participation beyond Cairo.
To enhance the appeal of the issuance, the Finance Ministry will shoulder the 20% tax normally due on the bond, offering citizens a no-tax yield of 17.75%, the official tells us. Coupon payments will be credited directly to investors’ accounts on a net basis. The bonds also carry a fixed return for the entire tenor, regardless of any future policy decisions by the Central Bank of Egypt, giving investors certainty over their returns from the outset.
Under the issuance terms reviewed by EnterpriseAM, investors are entitled to redeem their holdings starting from the fifth month, with accrued return from issuance to the redemption date deducted. Redemptions between the seventh and 12th months will see 40% of total paid returns deducted. From the 13th month until maturity, the deduction falls to 25% of the return.
ENERGY — Net-metering as we knew it is over, as Egyptera has tightened the screws on rooftop solar, according to a circular (pdf) from the regulator. The new rules lock in who can connect, how much they can inject, and under what technical and administrative conditions.
The rules introduce a minimum 25% local component requirement, mandate certified inverters and automatic disconnection during grid outages, and put distribution companies in charge of approvals, metering, and monthly settlement. Excess power can still be credited forward — but not cashedout. Every project must be registered, mapped, and tracked through the regulator’s PV-hub platform.
IN CONTEXT- Early last year, Egyptera froze approvals for new solar grid connections pending revised net-metering and self-consumption rules, then moved to scrap the net-metering scheme altogether at the end of the year by canceling the governing circulars. Solar firms then warned that the abrupt shift stranded investments. Regulators earlier this year paused the overhaul and said the framework would be reworked.
DIGITIZATION — Speeding things up: Corporate capital increases should happen much faster now that Investment Minister Mohamed Farid is working to digitally link a handful of state entities, giving them digital access to each other’s certified documents. The move digitizes and speeds up the process that usually accompanies capital increases, board restructuring, and ratifying meeting minutes.
Who’s involved? The first phase of the process will see the Investment Ministry digitally link up with the EGX, Misr for Central Clearing, Depository and Registry, the Financial Regulatory Authority, the Internal Trade Development Authority, and the CIT Ministry.
From the diplomatic front
The Foreign Ministry condemned US ambassador to Israel Mike Huckabee’s comments about Israel’s entitlement to lands belonging to Arab states, which he made on the Tucker Carlson Show podcast (watch, runtime: 2:42:39), the ministry said in a statement. Egypt sees his comments as “a flagrant violation of international law and the principles of the United Nations Charter,” highlighting that they contradict US President Donald Trump’s 20-point “peace plan” to end the genocide of the Palestinian people in Gaza, as well as the Peace Council conference held in Washington this month.
“Egypt reiterates that Israel has no sovereignty over the occupied Palestinian territories or other Arab lands,” the ministry said. It added that it rejects any annexations of the West Bank or its separation from the Gaza Strip, as well as any expansion of settlement activities on the occupied Palestinian territories.
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** DID YOU KNOW that we cover Saudi Arabia, the UAE, and the MENA-IndiaCorridor?
Data point
81st — that’s where the Egyptian passport ranked in this year’s HenleyPassport Index, improving nine spots from last year. Singapore topped the list, while the UAE ranked as the most powerful Arab passport and came in joint third place globally with Sweden. Our corner of the world was overrepresented at the bottom of the ranking with Iraq, Syria, and Yemen, trailing only Afghanistan.
PSA-
WEATHER- It’s another cool day in Cairo today, with a high of 19°C and a low of 11°C, according to our favorite weather app.
It’s a similar story in Alexandria, with a high of 18°C and a low of 10°C.
The big story abroad
Several stories dominate headlines this morning, including the killing of drug cartel kingpin Nemesio Oseguera after a raid by Mexican authorities. Oseguera was a top member of the organization known as Jalisco New Generation Cartel, which is one of the groups behind the smuggling of bns of USD worth of drugs into the US. The operation came after mounting pressure from Washington to prevent the flow of drugs across the border.
On the global stage, the European Commission said it expects Washington to stick to the joint trade agreement inked last year. The Commission demanded “full clarity” on Washington’s next steps and insisted the US honor the agreement, indicating that it will accept no increase in US tariffs. This comes after US President Donald Trump announced he is raising global tariffs to 15%.
Speaking of which, Trump’s newest tariff hike was found to benefit China and Brazil most while heralding higher costs for US allies, namely the UK, the EU, and Japan. US allies are thought to suffer most as their exports have a higher proportion of steel, aluminium, and autos, which are covered by some tariffs that remain in place.
MEANWHILE, IN MARKETS: Crude prices retreated in early trading today after Trump’s pledge to hike tariffs fueled anxieties over a potential slowdown in global economic growth and energy demand.

*** It’s Blackboard day: We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed.
In today’s issue: We look at how the government’s proposed plan to extend compulsory schooling from 12 to 13 years will need to see private sector investment increase to meet the greater number of students.






