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The Egypt-Saudi Investment Fund could finally be becoming a thing
The Egyptian and Saudi governments have drafted a final agreement to launch the long-dormant Saudi-Egypt investment fund, according to a…
EFG Hermes posts 18% y-o-y net profit growth in 3Q2020
EARNINGS WATCH- EFG Hermes profits grow 18% y-o-y in 3Q2020: EFG Hermes’ net profits increased to EGP 422 mn in…
Bank ABC confirms it’s still in for Blom Bank Egypt
M&A WATCH- Bank ABC is pushing forward with Blom Bank Egypt acquisition talks: The Arab Banking Corporation (Bank ABC) has…
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.…
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…
EFG Hermes, Egypt’s sovereign fund to finalize AIB takeover this year
M&A WATCH- EFG Hermes, SFE to finalize AIB acquisition this year: EFG Hermes and the Sovereign Fund of Egypt (SFE)…
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