Good morning, friends, and happy weekend. We hope you’re getting some rest — and already planning for the next long weekend to come.
If you’re staying in Cairo and haven’t gotten around to planning your weekend yet, we’ve got you covered. Weekends spent at home can often pass you by before you know it — and considering its summer, that would be a shame. We’ve gathered up a few ideas on how you could spend your time this weekend — and all the Cairo weekends to come.
Whether you’re staying in Cairo or heading to Sahel, don’t miss the first issue of our four-part special series: Destination Sahel — if you haven’t already given it a read.
LAST WEEK IN 3 MINS-
CAPITAL MARKETS-
U Consumer Finance — which owns and operates the Valu brand — begantrading on the EGX under the ticker VALU.CA. In its first day of trading, shares in the company increased 852.4% from its opening price of EGP 0.78 to end the day at EGP 7.40 — maxing out the price ceiling given to the homegrown fintech. Company shares closed at EGP 8.88 apiece yesterday.
The move handed Amazon a 3.95% stake in the company. The e-commerce giant had purchased USD 10 mn worth of EFG Hermes’ London-listed GDRs back in 2022 with an option to convert them into a stake in Valu in the event of a third-party investment, IPO, or other liquidity event.
EnterpriseAM sat down with Valu CEO Walid Hassouna to explore the driving forces behind the company’s success and discuss what lies ahead. You can check out part one here and part two here.
ECONOMY-
The Finance Ministry completed a USD 1 bn sovereign sukuk issuance on the Vienna Stock Exchange in a private placement offering an annual yield of 7.875% with a three-year maturity, according to a statement from the Finance Ministry and another from the Vienna Stock Exchange seen by EnterpriseAM. The private placement was fully subscribed by Kuwait Finance House and follows Egypt’s maiden sukuk issuance in February 2023.
M&A WATCH-
Qalaa Holding’s mining arm Ascom will submit a EGP 641.0 mn purchase offer for Raya Holding’s entire 90% stake in freight subsidiary Ostool after its board greenlit the offer. The potential transaction values Ostool’s shares at EGP 8.22 each.
DEBT WATCH-
SANAD, GGF back Beltone Leasing and Factoring with USD 20 mn: Beltone Leasing and Factoring secured USD 20 mn in funding from impact investment funds SANAD Fund for MSME and the Green for Growth Fund (GGF) — both managed by Germany-based impact asset manager Finance in Motion. Each fund provided a USD 10 mn package, with a repayment tenor of five years.
AROUND THE WORLD IN SEVEN DAYS-

The foreign press followed the Iran-Israel conflict as it flared into an intensified war before settling into a tenuous truce, with continued massacres in Gaza and the release of pro-Palestine activist Mahmoud Khalil also making headlines.
US President Donald Trump announced “a complete and total ceasefire” between Iran and Israel, ending nearly two weeks of missile exchanges that killed hundreds. The announcement came shortly after Iran launched a missile strike on the US’ largest military base in the region in Qatar in response to strikes on its nuclear facilities. The US had joined the conflict earlier this week, hitting three Iranian nuclear sites at Fordow, Natanz, and Isfahan.
Speculation continues around the extent of damage on Iran’s nuclear facilities following the US’ attacks on three of its sites, with Trump asserting that the leaked intelligence assessment from a day earlier was inconclusive and that the damage was actually severe. Iran’s Foreign Ministry spokesperson Esmail Baghaei later said the sites were “badly damaged” in a TV interview. It’s still unclear how badly they were hit, with some sources saying the nuclear program was set back only a few months’ time, and others — namely, Israel — saying it’s years. (Bloomberg | Reuters)
While the world’s attention was turned to Iran, Israel continued its almost daily massacres of those seeking aid in Gaza, bringing the number of those killed in similar attacks to over 500 in just the past two weeks.
AND- Columbia University graduate and pro-Palestine activist Mahmoud Khalil was released on bail after a federal judge called his three-month detention in the immigration facility unconstitutional. Khalil, who has become a symbol of Trump’s crackdown on both foreign residents and those who have voiced pro-Palestinian support, was reunited with his son and wife and vowed to carry on advocating for Palestinian rights.
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☀️ THE WEATHER THIS WEEKEND-
It’s still sunny in the capital today, with the mercury set to peak at 35°C before cooling down to a sensible 21°C at night. Tomorrow will be slightly warmer, with temperatures reaching 36°C. Saturday will be the hottest day of the weekend, with the mercury set to peak at 38°C before dropping to 22°C at night.
It’s a different story up north. It’s going to be a cool weekend across the North Coast, with temperatures expected to reach just 26-28°C during the day and 24-25°C at night, according to our favorite weather app.
HAPPENING THIS WEEKEND-
The ‘90s are calling, and tomorrow, we’re picking up. Egyptian band Cassette ‘90s will be performing live at Zamalek’s El-Sawy Culturewheel, and you best believe they’ll be doubling down on nostalgia. This motley crew of ‘90s aficionados knows how to keep an audience on their feet, so if a trip a few decades back sounds like a fun time, secure your spot through El-Sawy Culturewheel’s website.
Spending the weekend in Cairo? How does an afternoon of kayaking and painting sound? Tomorrow Boards and Boats is hosting a Kayak and Paint workshop in collaboration with Artsy Egypt at Mountain View Hyde Park. Reach out to Boards and Boats through Instagram to secure your spot.
If you play your cards right, you might just walk home victorious. Tomorrow, Maadi’s Darb 15 will be hosting quite the competitive game night in collaboration with game gurus Playful Batta. Ready for battle? You can secure your spot through the link in Darb 15’s Instagram bio.
The Cairokee Empire rises once more, this time at the Cairo International Stadium. On Saturday, the band promises over a decade’s worth of iconic music at the largest venue in Africa. You can grab your tickets through Tazkarti.
Lose yourself in the last of Beethoven’s symphonies at the Cairo Opera House. On Saturday, Beethoven’s Symphony No. 9 will reverberate throughout the Main Hall as Maestro Ahmed El Saedi guides his orchestra through the most influential of symphonic works. Tickets can be purchased through Tazkarti.
Ready to cause a ruckus? On Saturday, CJC 610 is hosting one loud, positively chaotic metal night. Featuring Egyptian System of a Down tribute band Soaad, thrash metal band Gorynov, Cyprus-based Ka’aper, and Egyptian death metal band Scarab, it’s bound to be a night for your personal history book. You can secure your spot through CJC 610’s website.
Egyptian rock band Medic is celebrating its 20th anniversary at Downtown Cairo’s Rawabet Art Space on Saturday. Founded in 2005, the progressive rock and metal band has been causing a ruckus — the good kind — all over the country — and for their 20th anniversary show, they’re going all out. Tickets can be purchased through Ticketsmarché.
HAPPENING NEXT WEEKEND-
Freshen up your linen shirts and pack up your shades, because Egyptian megastar Amr Diab will be kicking off Sahel season at Sol Beach Marassi on Friday, 4 July. Joining the Hadaba will be German electronic dance music producer and singer Monolink, and Copenhagen-based experimental pop trio WhoMadeWho. You can grab your tickets from Ticketsmarché. Just don’t forget your sunblock.
They’re not humans, they’re not machines, they’re simply…alive. Hailing from Northern Italy and landing in Sahel’s Kyma Beach Southmed, transcendental DJ duo Mathame will be giving North Coast dwellers a taste of their cinematic techno finesse on Friday, 4 July. Ticket details are yet to be announced, but we’d suggest keeping an eye out for them on Kyma’s website.


