{"id":566386,"date":"2021-06-16T14:00:26","date_gmt":"2021-06-16T14:00:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=566386"},"modified":"2025-12-16T05:23:29","modified_gmt":"2025-12-16T05:23:29","slug":"state-banks-launch-an-egp-1-bn-fund-of-funds-targeting-smes","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/state-banks-launch-an-egp-1-bn-fund-of-funds-targeting-smes\/","title":{"rendered":"State banks launch an EGP 1 bn fund of funds targeting SMEs"},"content":{"rendered":"<section id=\"566388\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"566388\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TONIGHT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/tonight-the-who-could-approve-made-in-egypt-sinovac-israel-palestine-tensions-rise-again-also-biden-and-putin-meet-in-geneva\/\">\r\n                            TONIGHT: The WHO could approve Made-in-Egypt Sinovac. + Israel-Palestine tensions rise again. ALSO: Biden and Putin meet in Geneva.                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/tonight-the-who-could-approve-made-in-egypt-sinovac-israel-palestine-tensions-rise-again-also-biden-and-putin-meet-in-geneva\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/tonight-the-who-could-approve-made-in-egypt-sinovac-israel-palestine-tensions-rise-again-also-biden-and-putin-meet-in-geneva\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/tonight-the-who-could-approve-made-in-egypt-sinovac-israel-palestine-tensions-rise-again-also-biden-and-putin-meet-in-geneva\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=TONIGHT: The WHO could approve Made-in-Egypt Sinovac. + Israel-Palestine tensions rise again. ALSO: Biden and Putin meet in Geneva.&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/tonight-the-who-could-approve-made-in-egypt-sinovac-israel-palestine-tensions-rise-again-also-biden-and-putin-meet-in-geneva\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/tonight-the-who-could-approve-made-in-egypt-sinovac-israel-palestine-tensions-rise-again-also-biden-and-putin-meet-in-geneva\/&title=TONIGHT: The WHO could approve Made-in-Egypt Sinovac. + Israel-Palestine tensions rise again. ALSO: Biden and Putin meet in Geneva.\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=TONIGHT%3A+The+WHO+could+approve+Made-in-Egypt+Sinovac.+%2B+Israel-Palestine+tensions+rise+again.+ALSO%3A+Biden+and+Putin+meet+in+Geneva.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F16%2Ftonight-the-who-could-approve-made-in-egypt-sinovac-israel-palestine-tensions-rise-again-also-biden-and-putin-meet-in-geneva%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/tonight-the-who-could-approve-made-in-egypt-sinovac-israel-palestine-tensions-rise-again-also-biden-and-putin-meet-in-geneva\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566388\" class=\"content-area-description single-story post-566388 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-africa tag-china tag-climate tag-climate-change tag-enterprisepm tag-eu tag-hala-zayed tag-israel tag-joe-biden tag-palestine tag-sinovac tag-technology tag-what-were-tracking-tonight tag-world-health-organization wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good afternoon, friends, and happy almost-THURSDAY. It\u2019s all about investment this <\/strong><strong>afternoon<\/strong>, from a state-owned fund-of-funds (the first we remember hearing about) to startup accelerators and venture-backed companies looking to grow in Egypt. We have chapter and verse in this afternoon\u2019s Speed Round, below.<\/p>\n<p><strong>THE BIG STORY ABROAD- Israel is back at it: <\/strong>Israel launched airstrikes against targets in Gaza after Hamas allegedly sent incendiary balloons into southern Israel, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-16\/israel-conducts-air-strikes-in-gaza-as-fresh-violence-flares?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> reports. The flaming balloons came prior to a nationalist march on Tuesday by thousands of Israeli far-right nationalists through Palestinian neighborhoods in East Jerusalem, an annual event which Palestinians see as an assertion of control by Israelis over territory claimed by Palestinians. This is the first eruption of hostilities since the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f8a32c2f-201f-44ba-a719-8ee9b42efd75\">Israel-Hamas ceasefire<\/a> brokered by Egypt took hold in late May after an 11-day conflict.<\/p>\n<p><strong>HAPPENING NOW- Joe Biden and Vladimir Putin are sitting in a lakeside cottage in <\/strong><strong>Geneva. <\/strong>The two began earlier this afternoon a meeting that handlers said could last as long as five hours. Aides to both presidents took great pains before the confab to <a href=\"https:\/\/www.reuters.com\/world\/wide-disagreements-low-expectations-biden-putin-meet-2021-06-15\/\">downplay expectations<\/a> that any concrete agreement would emerge. Look for the story to dominate the world\u2019s front-pages tomorrow morning.<\/p>\n<p><strong>** CATCH UP QUICK <\/strong>on the top stories from today\u2019s EnterpriseAM:<\/p>\n<ul>\n<li><strong>Arab League calls for UN action on GERD: <\/strong>Arab foreign ministers <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cfdcf87c-7b78-4f7a-a089-28c886b7b980\">called on the UN<\/a> Security Council to hold an \u201curgent session\u201d to discuss the dispute over the Grand Ethiopian Renaissance Dam during a meeting in Doha yesterday.<\/li>\n<li><strong>Vivo plans to invest USD 30 mn in Egypt over the next two years: <\/strong>The Chinese smartphone maker <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea0248ff-94a7-42dc-a11d-302c345bcee9\">plans to establish<\/a> five new customer services centers by the end of 2021, two of which are currently under construction.<\/li>\n<li><strong>CIRA will establish Egypt\u2019s first applied tech university by September 2022: <\/strong>The university <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ef11c8c2-fac3-4847-8c50-dcd4fe71f3f6\">will be founded<\/a> at CIRA\u2019s Badr University and will initially offer diplomas and bachelor\u2019s degrees in logistics, tourism, medical and industrial manufacturing.<\/li>\n<\/ul>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>YOUR STATUTORILY REQUIRED COVID STORY- Egypt just got a boost for its plan to <\/strong><strong>export surplus doses of <\/strong><strong>Egypt-made Sinovac vaccines to Africa: <\/strong>Health Minister Hala Zayed pushed for World Health Organization approval of the locally manufactured jab in a meeting with the organization\u2019s director-general, Tedros Adhanom, according to a <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/114050287572861?__cft__[0]=AZWIyiv2exAPS1Hgp4YUghvn6HBXkgQQuMz0AUxXivba7M7DOxPV7oi0ie4YQP-bSUVOxKKuHKGE6xncuu9laR0yp7_bDq8H2Fnmwc00NaM2YCzCsAdrscYjGJjF-RgXFVUBVPm5q1BxxO-UjcRH1x4I&__tn__=%2CO%2CP-R\">cabinet statement<\/a>. Vaccine manufacturer Vacsera could also potentially receive a WHO certification. The state-owned facility is expected to produce the first batch of the Chinese jab <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/32c49bcc-ac9a-4e46-8f1c-06aefe57579a\">as early as this week<\/a>. Zayed <a href=\"https:\/\/al-ain.com\/article\/coronavirus-egypt-sinovac-vaccine\">previously said<\/a> that production will first need to cover local needs before exports begin to other African countries.<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR- <\/strong><\/p>\n<p><strong>The EFG Hermes and Saudi Exchange Virtual Investor Conference will wrap up <\/strong><strong>tomorrow<\/strong>, according to a <a href=\"https:\/\/ent.news\/2021\/6\/EFG-Hermes-Saudi-Exchange-Virtual-Investor-Conference-English-Press-Release.pdf\">press release (pdf)<\/a>. The event will see execs from 61 companies meet with more than 450 international investors from over 190 institutions.<\/p>\n<p>? <strong>FOR YOUR COMMUTE-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Mediocre male managers are standing in the way of women in finance <\/strong>looking to advance their careers, according to a joint <a href=\"https:\/\/www.wibf.org.uk\/images\/uploads\/documents\/WIBF_ACT_Good_Finance_Framework_Report.pdf\">LSE and Women In Banking and Finance study.<\/a> Drawing from 79 qualitative responses from women in London, researchers have found that it is \u201cmuch more likely to be average men who ended up being the gatekeepers for the younger women who were coming through\u201d because managers persistently tend to offer career support to those who more closely resemble them, the lead author told <a href=\"https:\/\/www.ft.com\/content\/08ff1bd0-2e2b-4d20-bb9f-dfe8c5a9807b\">the Financial Times.<\/a> Respondents indicated they needed to work harder than men \u2014 and that black women needed to work harder than white women \u2014 to secure the same kind of recognition at work.<\/p>\n<p><strong>Apple\u2019s healthcare ambitions haven\u2019t yet seen the light of day: <\/strong>Tech firms see the healthcare industry as a potential gold mine, and few have been as aggressive in moving into it as Apple, which has made health a centerpiece of both mobile and its push into wearables including Apple Watch. But its grander ambitions may have run into roadblocks: Apple has attempted to launch initiatives, including high-tech clinics, that have struggled to get off the ground, according to the <a href=\"https:\/\/www.wsj.com\/articles\/apple-struggles-in-push-to-make-healthcare-greatest-legacy-11623832200?mod=hp_lead_pos1\">Wall Street Journal<\/a>. The clinics would use Apple health apps on users\u2019 iPhones to help disrupt the \u201c363\u201d model that sees patients out of contact with their MDs for 363 days a year and only visit when something goes wrong. As much as CEO Tim Cook promises that Apple\u2019s \u201c greatest contribution to mankind will be in health,\u201d the company has often pushed its healthcare ambitions to the end of the to-do list to instead focus on what it does best: selling products, the Journal suggests.<\/p>\n<p><strong>The US is getting sharper elbowed when it comes to protecting Big (American) Tech: <\/strong> The US is calling on the European Union not to adopt what it claims are \u201cprotectionist\u201d policies that target only the five biggest US firms, according to the <a href=\"https:\/\/www.ft.com\/content\/2036d7e9-daa2-445d-8f88-6fcee745a259\">Financial Times<\/a>, citing an email from the National Security Council to staff at the EU\u2019s delegation in the US. The exclusive targeting of FAANG companies (Facebook, Amazon, Apple, Netflix, Google), which was suggested by the European Parliament rapporteur for the Digital Markets Act, would \u201chinder our ability to work together to harmonize our regulatory systems\u201d and make \u201cco-operation between the US and Europe extremely difficult,\u201d the email read.<\/p>\n<p><strong>China is sending a three-person crew into orbit tomorrow to help complete the country\u2019s <\/strong><strong>space station<\/strong>, according to <a href=\"https:\/\/www.reuters.com\/world\/china\/china-says-launch-crewed-spacecraft-shenzhou-12-june-17-2021-06-16\/\">Reuters<\/a>. The high-stakes takeoff is the third of a series of eleven missions necessary for the development of China\u2019s space station by the end of the year, with four more missions planned. The three astronauts will stay in space for three months, the longest for any Chinese astronaut. China is currently barred from the International Space Station and has sought to build its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d147b8e1-2dfd-4679-9aec-e4530f06679a\">Tianhe space station<\/a> as an alternative.<\/p>\n<p><strong>Is the world\u2019s largest oil producer heading towards a net-zero emissions target by <\/strong><strong>2050?<\/strong> US climate envoy John Kerry thinks as much following a meeting with Saudi Energy Minister Prince Abdulaziz bin Salman, in which the minister expressed his \u201cvery real\u201d clean energy ambitions, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-15\/u-s-must-close-the-gap-on-climate-finance-kerry-says?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> reports. The Biden administration has pledged USD 5.7 bn a year in climate finance for developing countries, including the kingdom, with a potential additional USD 1.2 bn injection to the UN\u2019s Green Climate Fund. But OPEC+ have been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/46a0d8e4-edad-45e6-897f-bc98628350d5\">scaling back supply cuts<\/a> enacted during covid-19, as oil prices hit their<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/79faa360-ddbe-4932-8b4a-83a14baa187e\">highest level<\/a> since October 2018, meaning a roadmap to net-zero emissions may be a while away.<\/p>\n<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT-<\/strong><\/p>\n<p><strong>Season two of critically-acclaimed TV show Lupin is out on <\/strong><strong><a href=\"https:\/\/www.netflix.com\/eg-en\/title\/80994082\">Netflix<\/a><\/strong><strong>. <\/strong>Picking up where the first season left off, gentleman thief Assane Diop has the police hot on his heels. His arch-enemy has it out for him too, as the character continues to try to avenge his father\u2019s death. The first season of the French-language TV show was a smashing success, and the new episodes manage to surpass their predecessors. The show also gives Diop more leeway for character development this time around as he struggles with the ripple effect that his chosen life of crime has condemned him to. Check out the trailer if you aren\u2019t yet convinced: (<a href=\"https:\/\/www.youtube.com\/watch?v=kJ6x279y8GI\">watch, runtime: 02:29<\/a>).<\/p>\n<p>\u26bd <strong>Today\u2019s itinerary in the Euro 2020<\/strong> already has <strong>Russia<\/strong> and <strong>Finland<\/strong> on the pitch in Group B. Russia needs to pull its weight in today\u2019s match after losing to Belgium, especially since Finland already snagged three points after the dramatic match with Denmark. Meanwhile, <strong>Wales<\/strong> (which tied with Switzerland in its last match) is going up against <strong>Turkey<\/strong>, which had previously lost to Italy. Rounding out Group A, <strong>Italy<\/strong> and <strong>Switzerland<\/strong> will hit the field at 9pm in the most-anticipated match of the day.<\/p>\n<p><strong>Last night\u2019s fixtures: Portugal<\/strong> came out on top against <strong>Hungary<\/strong> with a score of 3-0, while <strong>France<\/strong> beat <strong>Germany<\/strong> 1-0, after having two of the three goals it got past Germany\u2019s keep disqualified.<\/p>\n<p>?<strong> OUT AND ABOUT-<\/strong><\/p>\n<p><strong>Art d'\u00c9gypte is organizing <\/strong><strong><a href=\"https:\/\/www.instagram.com\/p\/CQErovuHyuj\/?utm_medium=copy_link\">EX<\/a><\/strong><strong>, an art display by the sea taking place in Almaza Bay in <\/strong><strong>North Coast <\/strong>from 18 June to 22 August, featuring dozens of local artists.<\/p>\n<p><strong>More drummers are taking the stage at venues across Cairo at 8pm today <\/strong>as part of the eighth edition of the <a href=\"https:\/\/www.cdf.gov.eg\/tobool\/\">International Festival for Drums and Traditional Arts<\/a>. Today\u2019s performances feature ensembles from South Sudan, Palestine, Yemen, Indonesia, and Sudan. The festival runs until Friday. You can check out the full schedule and locations for each show <a href=\"https:\/\/www.facebook.com\/hewar.foundation\/posts\/3999279700188182\">here<\/a>.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><strong>Bill Clinton is milking his political career for some fiction inspiration:<\/strong> The former US President has teamed up with James Patterson to write <a href=\"https:\/\/www.amazon.com\/Presidents-Daughter-Thriller-James-Patterson-ebook\/dp\/B088G2GNBL\/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=&sr=\">The President's Daughter<\/a>, a thriller that follows character Matthew Keating, a one-term president and former Navy SEAL whose daughter is kidnapped. In a one-man special-ops mission, Keating must find his daughter and resolve the matter of national security \u2014 all while the world watches. This is Patterson and Clinton\u2019s second collaboration, following 2018\u2019s <a href=\"https:\/\/www.goodreads.com\/book\/show\/35097255-the-president-is-missing\">The President is Missing<\/a> (are you seeing the pattern here?). <a href=\"https:\/\/www.independent.ie\/entertainment\/books\/book-reviews\/the-presidents-daughter-review-bill-clintons-ultimate-male-fantasy-is-unwittingly-hilarious-40528484.html\">The Independent<\/a> calls the book \u201cClinton\u2019s male fantasy\u201d, while the <a href=\"https:\/\/www.washingtonpost.com\/entertainment\/books\/bill-clinton-james-patterson-presidents-daughter\/2021\/06\/02\/7a6e6f7e-c3c3-11eb-93f5-ee9558eecf4b_story.html\">Washington Post<\/a>\u2019s review of the book includes the word \u201cridiculous.\u201d The <a href=\"https:\/\/www.nytimes.com\/2021\/06\/08\/books\/review-presidents-daughter-bill-clinton-james-patterson.html\">New York Times<\/a> is out with a somewhat less scathing take.<\/p>\n<p>? <strong>TOMORROW\u2019S WEATHER- It\u2019s getting hotter\u2026 <\/strong>Cairo will see daytime highs of 36\u00b0C and nighttime lows of 20\u00b0C before the mercury rises to 37\u00b0C and 38\u00b0C for the next few days according to our favorite weather app.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hala-zayed\/\">Hala Zayed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/joe-biden\/\">Joe Biden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palestine\/\">Palestine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sinovac\/\">Sinovac<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/technology\/\">technology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-tonight\/\">WHAT WE\u2019RE TRACKING TONIGHT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-health-organization\/\">World Health Organization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566389\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240927.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/mashreq.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27486.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Rise every day<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-7uhkha5\" data-v=\"4\" data-block-id=\"7uhkha5\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-7uhkha5-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-7uhkha5-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240928.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.beltoneholding.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27484.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Where disruption meets success<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-ko7m7st\" data-v=\"4\" data-block-id=\"ko7m7st\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ko7m7st-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ko7m7st-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240936.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/cira.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27480.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Shaping the future of education in Egypt<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566390\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"566390\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">SPEED ROUND: CAPITAL MARKETS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/nbe-banque-misr-bdc-to-launch-egp-1-bn-fund-of-funds-targeting-smes\/\">\r\n                            NBE, Banque Misr, BdC to launch EGP 1 bn fund of funds targeting SMEs                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/nbe-banque-misr-bdc-to-launch-egp-1-bn-fund-of-funds-targeting-smes\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/nbe-banque-misr-bdc-to-launch-egp-1-bn-fund-of-funds-targeting-smes\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/nbe-banque-misr-bdc-to-launch-egp-1-bn-fund-of-funds-targeting-smes\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=NBE, Banque Misr, BdC to launch EGP 1 bn fund of funds targeting SMEs&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/nbe-banque-misr-bdc-to-launch-egp-1-bn-fund-of-funds-targeting-smes\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/nbe-banque-misr-bdc-to-launch-egp-1-bn-fund-of-funds-targeting-smes\/&title=NBE, Banque Misr, BdC to launch EGP 1 bn fund of funds targeting SMEs\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=NBE%2C+Banque+Misr%2C+BdC+to+launch+EGP+1+bn+fund+of+funds+targeting+SMEs+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F16%2Fnbe-banque-misr-bdc-to-launch-egp-1-bn-fund-of-funds-targeting-smes%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/nbe-banque-misr-bdc-to-launch-egp-1-bn-fund-of-funds-targeting-smes\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/509.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"566391\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/nbe-banque-misr-bdc-to-launch-egp-1-bn-fund-of-funds-targeting-smes\/509-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/509.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"509.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/509.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/509.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566390\" class=\"content-area-description single-story post-566390 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-capital-markets tag-banque-du-caire tag-banque-misr tag-capital-markets tag-enterprisepm tag-national-bank-of-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>A consortium of the National Bank of Egypt , Banque Misr and Banque du Caire are <\/strong><strong>planning to launch a fund of funds with an initial assets under management of EGP 1 bn<\/strong>, an unnamed source at BdC told Enterprise, confirming an earlier <a href=\"https:\/\/bit.ly\/3vz06kW\">statement<\/a> by Deputy Chairman Yehia Abou El-Fotouh during a webinar. The three state-owned banks are working to finalize Financial Regulatory Authority approvals to launch the fund, the source added. NBE did not return a request for comment by dispatch time.<\/p>\n<p><strong>Where will it invest?<\/strong> The fund plans to invest in SMEs in healthcare, education, fintech, agribusiness, renewables, fast-moving consumer goods as well as information and communications technology, the BdC source noted. The source declined to specify how many funds they were looking to back or the ticket size for each.<\/p>\n<p><strong>Still unclear to us: <\/strong>Who\u2019s managing the fund of funds and whether it\u2019s going to pursue equity or debt opportunities.<\/p>\n<p><strong>What\u2019s a fund of funds?<\/strong> In basic terms, a fund of funds (FoF) is one that chooses to invest in other funds \u2014 whether equity or debt \u2014 rather than individually vetting specific companies or debt issuances it may want to back. The fund managers to whom the FoF hands AUM are then trusted to generate returns that pass back to the managers of the fund of funds.<\/p>\n<p><strong>NBE, Banque Misr and BdC contributed in April to the final close of a USD 28 mn <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4fe9ecce-c61c-4c56-87ab-05ea2cb9c969\">Egypt-focused tech fund<\/a><\/strong> by VC firm Sawari Ventures. BdC also earlier announced in February plans to launch a number of investment <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/46ca8852-f08f-4f3b-a264-51408b1d912b\">funds for SMEs<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-du-caire\/\">Banque du Caire<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-bank-of-egypt\/\">National Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566392\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"566392\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">SPEED ROUND: INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/flat6labs-hits-first-close-on-usd-20-mn-jordan-fund-egypts-odiggo-expands-to-dubai\/\">\r\n                            Flat6Labs hits first close on USD 20 mn Jordan fund + Egypt\u2019s Odiggo expands to Dubai                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/flat6labs-hits-first-close-on-usd-20-mn-jordan-fund-egypts-odiggo-expands-to-dubai\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/flat6labs-hits-first-close-on-usd-20-mn-jordan-fund-egypts-odiggo-expands-to-dubai\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/flat6labs-hits-first-close-on-usd-20-mn-jordan-fund-egypts-odiggo-expands-to-dubai\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Flat6Labs hits first close on USD 20 mn Jordan fund + Egypt\u2019s Odiggo expands to Dubai&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/flat6labs-hits-first-close-on-usd-20-mn-jordan-fund-egypts-odiggo-expands-to-dubai\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/flat6labs-hits-first-close-on-usd-20-mn-jordan-fund-egypts-odiggo-expands-to-dubai\/&title=Flat6Labs hits first close on USD 20 mn Jordan fund + Egypt\u2019s Odiggo expands to Dubai\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Flat6Labs+hits+first+close+on+USD+20+mn+Jordan+fund+%2B+Egypt%E2%80%99s+Odiggo+expands+to+Dubai+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F16%2Fflat6labs-hits-first-close-on-usd-20-mn-jordan-fund-egypts-odiggo-expands-to-dubai%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/flat6labs-hits-first-close-on-usd-20-mn-jordan-fund-egypts-odiggo-expands-to-dubai\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/511.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"566393\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/flat6labs-hits-first-close-on-usd-20-mn-jordan-fund-egypts-odiggo-expands-to-dubai\/511-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/511.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"511.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/511.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/511.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566392\" class=\"content-area-description single-story post-566392 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-investment-watch tag-automotive tag-dubai tag-enterprisepm tag-gcc tag-investment-watch tag-odiggo tag-saudi-arabia tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Cairo-headquartered startup accelerator <\/strong><strong>Flat6Labs has reached a USD 7.4 mn first close <\/strong><strong>on a USD 20 mn seed fund targeting companies in Jordan. <\/strong>The Jordan Seed Fund will invest in early-stage startups in ICT, software solutions, education, healthcare, digital content, manufacturing, renewable energy, agriculture, big data, and fintech, according to a <a href=\"https:\/\/ent.news\/2021\/6\/Flat6Labs-Launches-New-USD-20-Million-Seed-Fund-to-Foster-Entrepreneurship-and-Innovation-in-Jordan.pdf\">press release (pdf)<\/a>. Limited partners in the first close include the International Finance Corporation, Jordan\u2019s <a href=\"https:\/\/issfjo.com\/\">Innovative Startups and SMEs Fund<\/a>, Beyond Capital, Bank Al-Etihad, and GMS Ventures and Investments.<\/p>\n<p><strong>The fund will make investments of JOD 50k (USD 70.5k) <\/strong>and could also do follow-on rounds worth as much as JOD 120k. It\u2019s looking to make 12-16 investments per year for the next five years. Flat6Labs has assets under management of more than USD 85 mn and has made investments in more than 320 companies. You can apply for investment from the Jordan Seed Fund <a href=\"http:\/\/www.flat6labs.com\/apply\">here<\/a>.<\/p>\n<p><strong>IN OTHER STARTUP NEWS- Egyptian automotive tech<\/strong><strong> startup <\/strong><strong><a href=\"https:\/\/www.odiggo.com.eg\/\">Odiggo<\/a><\/strong><strong> has expanded to <\/strong><strong>Dubai <\/strong>as part of a push to enter the GCC and tap what it says is a USD 61 bn auto parts and accessories market in MENA, co-founders Ahmed Nasser and Ahmed Omar told <a href=\"https:\/\/www.arabianbusiness.com\/startup\/464806-egypts-odiggo-expands-to-dubai-with-riyadh-rest-of-gcc-to-follow\">Arabian Business<\/a>. Saudi Arabia is \u201csoon to follow,\u201d they added. Odiggo \u2014 which launched in Egypt in 2019 \u2014 connects car owners with providers of automotive parts and services for a cheaper, less-timely, and contact-free alternative to traditional automotive care.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gcc\/\">GCC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/odiggo\/\">Odiggo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566394\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"566394\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">SPEED ROUND: FINTECH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/liwwa-to-invest-portion-of-usd-3-mn-pre-series-funding-in-expanding-sme-business-in-egypt\/\">\r\n                            Liwwa to invest portion of USD 3 mn pre-series funding in expanding SME business in Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/liwwa-to-invest-portion-of-usd-3-mn-pre-series-funding-in-expanding-sme-business-in-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/liwwa-to-invest-portion-of-usd-3-mn-pre-series-funding-in-expanding-sme-business-in-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/liwwa-to-invest-portion-of-usd-3-mn-pre-series-funding-in-expanding-sme-business-in-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Liwwa to invest portion of USD 3 mn pre-series funding in expanding SME business in Egypt&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/liwwa-to-invest-portion-of-usd-3-mn-pre-series-funding-in-expanding-sme-business-in-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/liwwa-to-invest-portion-of-usd-3-mn-pre-series-funding-in-expanding-sme-business-in-egypt\/&title=Liwwa to invest portion of USD 3 mn pre-series funding in expanding SME business in Egypt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Liwwa+to+invest+portion+of+USD+3+mn+pre-series+funding+in+expanding+SME+business+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F16%2Fliwwa-to-invest-portion-of-usd-3-mn-pre-series-funding-in-expanding-sme-business-in-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/liwwa-to-invest-portion-of-usd-3-mn-pre-series-funding-in-expanding-sme-business-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/512.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"566395\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/liwwa-to-invest-portion-of-usd-3-mn-pre-series-funding-in-expanding-sme-business-in-egypt\/512-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/512.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"512.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/512.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/512.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566394\" class=\"content-area-description single-story post-566394 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-fintech tag-enterprisepm tag-fintech tag-fmo tag-smes wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-03\" class=\"content-anchor\"><\/a> <strong>Amman-based fintech startup Liwwa plans to raise USD 3 mn in pre-series B <\/strong><strong>funding to expand its SME lending in Egypt and Jordan<\/strong>, CEO Dennis Ardis told <a href=\"https:\/\/www.arabianbusiness.com\/startup\/464824-jordanian-lender-eyes-further-expansion-in-egypt-after-22m-triodos-bank-debt-finance-agreement\">Arabian Business<\/a>. Part of the funds will go towards obtaining an SME lending license in Egypt, expanding the business, and growing the tech team, Ardis said. Liwwa has so far raised USD 1.3 mn of its USD 3 mn equity target through backing from FMO, DASH Ventures, Bank al Etihad, Edgo and the Palestinain Al-Qattan family.<\/p>\n<p><strong>The company is gunning for a March 2022 start to its series B fundraising round<\/strong>. This comes in addition to the USD 6 mn in equity investment the startup secured <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/201f108f-e8e4-49ba-89ea-3128860c47d5\">last year<\/a> during a round led by Dutch development bank FMO.<\/p>\n<p><strong>The company has also signed a USD 2.2 mn debt financing agreement<\/strong> with Triodos Fair Share Fund and Triodos Microfinance Fund to enhance lending capabilities to SMEs in Jordan.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fmo\/\">FMO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566396\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"566396\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">SPEED ROUND: M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/tycoon-holding-submits-rival-mto-for-brokerage-house-anfi\/\">\r\n                            Tycoon Holding submits rival MTO for brokerage house ANFI                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/tycoon-holding-submits-rival-mto-for-brokerage-house-anfi\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/tycoon-holding-submits-rival-mto-for-brokerage-house-anfi\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/tycoon-holding-submits-rival-mto-for-brokerage-house-anfi\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Tycoon Holding submits rival MTO for brokerage house ANFI&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/tycoon-holding-submits-rival-mto-for-brokerage-house-anfi\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/tycoon-holding-submits-rival-mto-for-brokerage-house-anfi\/&title=Tycoon Holding submits rival MTO for brokerage house ANFI\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Tycoon+Holding+submits+rival+MTO+for+brokerage+house+ANFI+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F16%2Ftycoon-holding-submits-rival-mto-for-brokerage-house-anfi%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/tycoon-holding-submits-rival-mto-for-brokerage-house-anfi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566396\" class=\"content-area-description single-story post-566396 post type-post status-publish format-standard hentry category-speed-round-ma-watch tag-alexandria-national-company-for-financial-investments tag-egx tag-enterprisepm tag-ma-watch tag-zeta-investments wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong><a href=\"https:\/\/tycoonholding.com\/\">Tycoon Holding<\/a><\/strong><strong> has submitted a bid to launch a mandatory tender offer for 90% of <\/strong><strong>brokerage house Alexandria National Company for Financial Investments (ANFI).<\/strong> The move comes shortly after Hong Kong\u2019s Zeta Investments <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d8b832c1-0280-4875-9ef1-e16439b68a93\">lodged a rival offer<\/a> eyeing the same stake, the Financial Regulatory Authority said in a <a href=\"https:\/\/ent.news\/2021\/6\/ANFI-MTO-16-06-2021.pdf\">statement (pdf)<\/a>. The offer is targeting 4.7 mn shares at EGP 5.60 apiece, valuing 100% of ANFI at a little over EGP 29.2 mn and is higher than Zeta\u2019s bid of EGP 5.48 per share. The FRA is currently reviewing Tycoon\u2019s offer before deciding whether to allow it to proceed.<\/p>\n<p><strong>ANFI is currently at the center of a <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfe3135e-1f51-4fb6-963b-163a781a6adf\">bidding war<\/a><\/strong> and has also garnered interest from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e92d627-df3f-439a-b32a-8f7183ef4cd6\">Kayan<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e92d627-df3f-439a-b32a-8f7183ef4cd6\">Sustainable Development<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfe3135e-1f51-4fb6-963b-163a781a6adf\">Zaldi Capital<\/a>, and a group of investors including Egyptian businessman Ahmed El Saba and Saudi Arabia\u2019s Mostafa El Humeidan. Gulf lender ADIB is the seller in the transaction.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alexandria-national-company-for-financial-investments\/\">Alexandria National Company for Financial Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/zeta-investments\/\">Zeta Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566397\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"566397\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">SPEED ROUND: CABINET WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/export-subsidies-program-approved-by-cabinet-but-were-yet-to-hear-more\/\">\r\n                            Export subsidies program approved by cabinet, but we\u2019re yet to hear more                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/export-subsidies-program-approved-by-cabinet-but-were-yet-to-hear-more\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/export-subsidies-program-approved-by-cabinet-but-were-yet-to-hear-more\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/export-subsidies-program-approved-by-cabinet-but-were-yet-to-hear-more\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Export subsidies program approved by cabinet, but we\u2019re yet to hear more&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/export-subsidies-program-approved-by-cabinet-but-were-yet-to-hear-more\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/export-subsidies-program-approved-by-cabinet-but-were-yet-to-hear-more\/&title=Export subsidies program approved by cabinet, but we\u2019re yet to hear more\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Export+subsidies+program+approved+by+cabinet%2C+but+we%E2%80%99re+yet+to+hear+more+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F16%2Fexport-subsidies-program-approved-by-cabinet-but-were-yet-to-hear-more%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/export-subsidies-program-approved-by-cabinet-but-were-yet-to-hear-more\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566397\" class=\"content-area-description single-story post-566397 post type-post status-publish format-standard hentry category-speed-round-cabinet-watch tag-cabinet-watch tag-development tag-enterprisepm tag-infrastructure tag-manufacturing wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>A new export support program got the green light from cabinet today <\/strong>and is due to come into play at the start of the state\u2019s new fiscal year on 1 July, according to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/157607143076381\">a statement<\/a> following the ministers\u2019 weekly meeting. The program will be similar to schemes Egypt has been implementing for nearly a decade to dole out cash payouts to exporters based on the volume of their sales, but will also:<\/p>\n<ul>\n<li><strong>Aim to boost domestic manufacturing<\/strong> and bring added value to Egyptian products.<\/li>\n<li><strong>Push for export growth <\/strong>from Upper Egypt, border regions, the Rubiki industrial zone, Damietta furniture city, and the Suez Canal Economic Zone.<\/li>\n<li><strong>Drive sales to Africa<\/strong> and other target markets, including by helping companies cover freight costs.<\/li>\n<\/ul>\n<p><strong>The cabinet statement was scant on further detail<\/strong> on how exactly these plans would be realized.<\/p>\n<p><strong>The new program will replace an EGP 6 bn scheme that fell out of favor with the nation\u2019s exporters<\/strong> shortly after the government started implementing it in FY2019-2020 \u2014 mainly due to a <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/02\/egypt-to-get-more-clarity-on-export-subsidies-program-as-govt-issues-executive-regs-7497\/\">lack of clarity in its executive regulations<\/a> and for <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dc923cf7-ab34-426a-a6ad-5493eb442ab7\">what were seen as lackluster promises<\/a> to reimburse exports via cash and non-cash incentives, rather than just cash.<\/p>\n<p><strong>ALSO APPROVED BY CABINET- <\/strong>Handing over some construction work at the planned <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/03c8bdc6-d133-43b4-9496-34fb2f55be97\">electric<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/03c8bdc6-d133-43b4-9496-34fb2f55be97\">rail line between Salam City and Tenth of Ramadan City<\/a> to the Aviation Industry Corporation of China (Avic). Avic was awarded the construction contract for the first and second phases of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/85114503-c556-41c5-94ec-267b9ccbe872\">90-km line<\/a> as part of a consortium which also includes China Railway Group Limited, and which will work alongside Egyptian contractors including Orascom Construction.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cabinet-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development\/\">development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566398\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566399\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"566399\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">GO WITH THE FLOW<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/ezz-steel-finally-turns-profitable-and-in-a-big-way-pioneers-to-soon-finalize-split\/\">\r\n                            Ezz Steel finally turns profitable (and in a big way) + Pioneers to soon finalize split                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/ezz-steel-finally-turns-profitable-and-in-a-big-way-pioneers-to-soon-finalize-split\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/ezz-steel-finally-turns-profitable-and-in-a-big-way-pioneers-to-soon-finalize-split\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/ezz-steel-finally-turns-profitable-and-in-a-big-way-pioneers-to-soon-finalize-split\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Ezz Steel finally turns profitable (and in a big way) + Pioneers to soon finalize split&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/ezz-steel-finally-turns-profitable-and-in-a-big-way-pioneers-to-soon-finalize-split\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/ezz-steel-finally-turns-profitable-and-in-a-big-way-pioneers-to-soon-finalize-split\/&title=Ezz Steel finally turns profitable (and in a big way) + Pioneers to soon finalize split\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Ezz+Steel+finally+turns+profitable+%28and+in+a+big+way%29+%2B+Pioneers+to+soon+finalize+split+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F16%2Fezz-steel-finally-turns-profitable-and-in-a-big-way-pioneers-to-soon-finalize-split%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/ezz-steel-finally-turns-profitable-and-in-a-big-way-pioneers-to-soon-finalize-split\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566399\" class=\"content-area-description single-story post-566399 post type-post status-publish format-standard hentry category-go-with-the-flow tag-banking tag-construction tag-earnings-watch tag-eg-bank tag-enterprisepm tag-ezz-steel tag-financial-services tag-go-with-the-flow tag-investment-watch tag-manufacturing tag-mopco tag-pioneers-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>EARNINGS WATCH- Ezz Steel reverses loss in 1Q2021: <\/strong>Ezz Steel reported a record consolidated profit of EGP 1.2 bn in the first quarter of the year, reversing an EGP 1.35 bn loss in the same quarter last year, according to <a href=\"https:\/\/ent.news\/2021\/6\/Ezz-Steel-16-06-2021.pdf\">financial statements (pdf)<\/a> it released today. This came as revenues climbed 25% y-o-y to EGP 13.5 bn. Ezz Steel has been consistently in the red for the better part of the previous decade.<\/p>\n<p><strong>Impressive turnaround: <\/strong>The steel giant\u2019s performance was substantially above market expectations, says Mohamed Magdi, a vice president at Beltone\u2019s research arm, who says Ezz\u2019s performance got a boost from the commodities boom that is now underway as the covid-19 pandemic starts to subside. The boom has taken iron ore and scrap raw material prices to record highs in a way that increased Ezz Steel\u2019s <a href=\"https:\/\/www.investopedia.com\/terms\/c\/commodity-product-spread.asp#:~:text=The%20commodity%2Dproduct%20spread%20is,product%20created%20from%20that%20commodity.&text=To%20trade%20on%20the%20spread,related%20to%20the%20raw%20material.\">commodity-product spread<\/a>, he adds. Magdi expects a solid performance from the company this year, saying Ezz Steel already had a stock of raw materials purchased at lower prices, which suggests it managed to significantly raise its spread. But this might soften when the cycle normalizes and average input costs rise.<\/p>\n<p><strong>EG Bank posted consolidated net profits of EGP 157 mn in 1Q2021<\/strong>, up 4% from the same quarter last year, according to <a href=\"https:\/\/ent.news\/2021\/6\/EG-Bank-16-06-2021-AR.pdf\">financial statements (pdf)<\/a> released today. Interest income declined to EGP 1.8 bn in 1Q2021 from EGP 1.92 bn in 1Q2020.<\/p>\n<p><strong>State-owned Misr Fertilizers Production Company (Mopco) reported 48.5% y-o-y <\/strong><strong>growth in its bottomline to EGP 792.67 mn in 1Q2021<\/strong>, according to the company\u2019s quarterly <a href=\"https:\/\/ent.news\/2021\/6\/Mopco-1Q2021.pdf\">financials (pdf)<\/a>. Revenues also rose to almost EGP 2 bn in 1Q2021, compared to EGP 1.8 bn in the same quarter of 2020.<\/p>\n<p><strong>Glaxo-Smith Kline saw its profits plunge to EGP 2.7 mn in 1Q2021, compared to <\/strong><strong>EGP 33.15 mn in the same quarter of 2020<\/strong>, according to its quarterly <a href=\"https:\/\/ent.news\/2021\/6\/Glaxo-1Q2021.pdf\">financials (pdf)<\/a>. Revenues also dropped to EGP 319.92 mn during the quarter, compared to EGP 433.97 mn in 1Q2020.<\/p>\n<p><strong>MARKET NEWS-<\/strong><\/p>\n<p><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/88b520b7-0692-46f0-8d18-5843c8a92691\">Pioneers Holding\u2019s plan<\/a><\/strong><strong> to split into three separate companies was greenlit by its <\/strong><strong>board of directors,<\/strong> the company said in a <a href=\"https:\/\/ent.news\/2021\/6\/Pioneers-vertical-split.pdf\">regulatory filing (pdf)<\/a>. The board agreed that the split will take the structure of a \u201cvertical spin-off,\u201d which involves keeping Pioneers Holding as the parent company and financial services arm and splitting its real estate and industrial investment businesses into subsidiaries \u2014 Pioneers Properties and Gadwa Industrial Developments. The split, <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/02\/pioneers-holding-to-make-five-mtos-split-into-three-companies\/\">announced in 2019<\/a>, means Pioneers will soon be trading on the EGX under <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/88b520b7-0692-46f0-8d18-5843c8a92691\">three separate tickers<\/a>. The company previously said it aims to use this as a way to expand into new businesses while improving its focus on core activities.<\/p>\n<p><strong>The EGX30 fell 0.1% at today\u2019s close<\/strong> on turnover of EGP 1.25 bn (2% below the 90-day average). Foreign investors were net sellers. The index is down 8.9% YTD.<\/p>\n<p><strong>In the green: <\/strong>Ezz Steel (+12.0%), Sidi Kerir Petrochemicals (+4.3%) and GB Auto (+2.2%).<\/p>\n<p><strong>In the red: <\/strong>TMG Holding (-2.9%), Qalaa Holdings (-2.5%) and Orascom Financial Holding (-1.6%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eg-bank\/\">EG Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ezz-steel\/\">Ezz Steel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/go-with-the-flow\/\">Go with the Flow<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mopco\/\">Mopco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pioneers-holding\/\">Pioneers Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566400\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"566400\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">SCIENCE + TECH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/from-cleaner-inboxes-to-youtube-rabbit-holes-how-recommendation-engines-have-taken-over-our-lives\/\">\r\n                            From cleaner inboxes to Youtube rabbit holes: how recommendation engines have taken over our lives                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/from-cleaner-inboxes-to-youtube-rabbit-holes-how-recommendation-engines-have-taken-over-our-lives\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/from-cleaner-inboxes-to-youtube-rabbit-holes-how-recommendation-engines-have-taken-over-our-lives\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/from-cleaner-inboxes-to-youtube-rabbit-holes-how-recommendation-engines-have-taken-over-our-lives\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=From cleaner inboxes to Youtube rabbit holes: how recommendation engines have taken over our lives&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/from-cleaner-inboxes-to-youtube-rabbit-holes-how-recommendation-engines-have-taken-over-our-lives\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/from-cleaner-inboxes-to-youtube-rabbit-holes-how-recommendation-engines-have-taken-over-our-lives\/&title=From cleaner inboxes to Youtube rabbit holes: how recommendation engines have taken over our lives\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=From+cleaner+inboxes+to+Youtube+rabbit+holes%3A+how+recommendation+engines+have+taken+over+our+lives+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F16%2Ffrom-cleaner-inboxes-to-youtube-rabbit-holes-how-recommendation-engines-have-taken-over-our-lives%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/from-cleaner-inboxes-to-youtube-rabbit-holes-how-recommendation-engines-have-taken-over-our-lives\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/519.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"566401\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/from-cleaner-inboxes-to-youtube-rabbit-holes-how-recommendation-engines-have-taken-over-our-lives\/519-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/519.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"519.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/519.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/519.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566400\" class=\"content-area-description single-story post-566400 post type-post status-publish format-standard has-post-thumbnail hentry category-science-tech-3 tag-enterprisepm tag-netflix tag-science-tech-2 tag-youtube wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>If you\u2019ve ever wondered how you lost an evening to surfing through cat videos, <\/strong><strong>you can blame Distinguished Doctor Doug<\/strong>: What started out as a seemingly benign tool designed by a small group of computer scientists to reorganize email by priority has evolved to become the much larger force influencing our tastes, preferences and attention to an alarming extent. One of the foundational architects of recommendation engines and the inventor of the \u201clike\u201d button, a man called Distinguished Doctor Doug (yes, that what he actually goes by) explains how his idea went from a time saver to a time sucker on this episode of NPR\u2019s Planet Money podcast (<a href=\"https:\/\/www.npr.org\/2021\/05\/26\/1000529597\/runaway-recommendation-engine\">Listen, runtime 20:45<\/a>)<\/p>\n<p><strong>A collaborative effort to take back precious time gone awry: <\/strong>Stuck ploughing through hours of email a day in the early nineties, Doug was looking for a way to better sort his inbox. He started by setting basic filters that would prioritize some emails over others based on sender and subject. Later, he added \u201clike-it\u201d and \u201chate-it\u201d buttons that would better flag the kinds of email he wanted to avoid. Eventually his friends jumped aboard, rating their emails, which made him realize their inboxes could collectively become even better at figuring out what was important to them, cutting down daily time spent on email by half. The discovery marked the beginning of what was called \u201ccollaborative filtering\u201d and paved the way for companies like Netflix and Youtube to become the internet giants they are today.<\/p>\n<p><strong>In 2006, Netflix <\/strong><strong><a href=\"https:\/\/www.nytimes.com\/2009\/09\/22\/technology\/internet\/22netflix.html\">offered USD 1 mn<\/a><\/strong><strong> to anyone who could make a 10% improvement on their recommendation engine: <\/strong>An international coalition of machine learning experts and statisticians who called themselves BellKor\u2019s Pragmatic Chaos ended up taking the prize by expanding Doug\u2019s collaborative filtering model to rely on lesser known statistics about viewing habits like hidden themes in movies, and whether or not someone has rated anything in the past.<\/p>\n<p><strong>So what\u2019s the problem with that, you ask? <\/strong>While there\u2019s nothing inherently wrong with getting better recommendations for movies and music, a bias towards so-called recommended content can start to overrule our actual preferences. <a href=\"https:\/\/pubsonline.informs.org\/doi\/abs\/10.1287\/isre.2013.0497\">Some research<\/a> suggests that people are sometimes even more likely to pay significantly higher prices to purchase songs that have received an artificially higher rating when they were told it was based on their personal preference.<\/p>\n<p><strong>Recommendation engines could threaten our ability to make independent choices: <\/strong>\u201cRecommender systems can encroach on individual users\u2019 autonomy, by providing recommendations that nudge users in a particular direction, by attempting to \u201caddict\u201d them to some types of contents, or by limiting the range of options to which they are exposed,\u201d write the authors of this <a href=\"https:\/\/link.springer.com\/article\/10.1007\/s00146-020-00950-y\">very recent study<\/a>. Questions on privacy, the criteria based on which engines make recommendations, and the \u201cfairness\u201d of the entire process are also concerns.<\/p>\n<p><strong>Are we heading towards an AI standardized \u201ctaste\u201d? <\/strong>People could also begin to veer away from their actual likes and dislikes and towards what comes up in the recommendations tab, which could ultimately become the same for everyone. Research on the ethical questions surrounding recommendation engines is still in its infancy, but some have <a href=\"https:\/\/www.researchgate.net\/publication\/230745374_Recommender_systems_and_their_effects_on_consumers_the_fragmentation_debate\">raised concerns<\/a> that they could lead to homogenized preferences among consumers, with everyone buying, watching, and listening to the same thing. Conversely, the \u201cfragmentation effect\u201d is also a concern, whereby ultra-specialized recommendations keep consumers trapped in their niche, and limit the scope of their exposure to new ideas and products.<\/p>\n<p><strong>Our take? <\/strong>Recommendation engines are definitely useful, but don\u2019t let them keep you pigeonholed. Shake up your watch-list every once in a while by venturing beyond the recommended content and seek out things you may like through reviews, or recommendations from friends and family.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/netflix\/\">Netflix<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/science-tech-2\/\">SCIENCE + TECH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/youtube\/\">youtube<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566402\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/your-essential-business-calendar-on-16-june-2021-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566402\" class=\"content-area-description single-story post-566402 post type-post status-publish format-standard hentry category-calendar tag-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>14-17 June (Monday-Thursday): The EFG Hermes and Saudi Exchange Virtual Investor Conference.<\/p>\n<p>17 June (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>17-20 June (Thursday-Sunday): The International Exhibition of Materials and Technologies for Finishing and Construction (Turnkey Expo), Cairo International Conference Center.<\/p>\n<p>20 June (Sunday): Ismailia Economic Court to hold hearing on Ever Given compensation case.<\/p>\n<p>20 June (Sunday): Deadline for Enpact + Tui + GIZ <a href=\"https:\/\/ent.news\/2021\/6\/070621_Egypt-Press-Release_ENG.pdf\">tourism recovery program (pdf)<\/a>.<\/p>\n<p>22-27 June (Tuesday-Sunday): The <a href=\"https:\/\/psaworldtour.com\/tournaments\/view\/11445\">CIB PSA World Tour Finals<\/a> for 2020-2021 will take place in Cairo.<\/p>\n<p>24 June (Thursday): End of the 2020-2021 academic year (public schools).<\/p>\n<p>26-29 June (Saturday-Tuesday): The Big 5 Construct Egypt, Cairo International Convention Center, Cairo, Egypt. The Big 5 Egypt Impact Awards will also be taking place at the event on 27 June.<\/p>\n<p>30 June (Wednesday): The IMF will complete a second review of targets set under the USD 5.2 bn standby loan approved in June 2020 (proposed date).<\/p>\n<p>30 June (Wednesday): 30 June Revolution Day.<\/p>\n<p>30 June- 15 July: The Cairo International Book Fair, Egypt International Exhibition Center.<\/p>\n<p>July + August: Thanaweya Amma exams take place.<\/p>\n<p>1 July: (Thursday): National holiday in observance of 30 June Revolution.<\/p>\n<p>1 July (Thursday): Large taxpayers that have not yet signed on to the e-invoicing platform will suffer a host of penalties, including removal from large taxpayer classification, losing access to government services and business, and losing subsidies.<\/p>\n<p>1 July (Thursday): Businesses importing goods at seaports will need to file shipping documents and cargo data digitally to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bf7988d-19f6-45a6-ada1-65d7c23ec723\">the Advance Cargo Information (ACI) system<\/a>.<\/p>\n<p>15 June (Saturday): EGX-listed will have to complete filing their financial disclosures for the period ended 31 March.<\/p>\n<p>19 July (Monday): Arafat Day (national holiday).<\/p>\n<p>20-23 July (Tuesday-Friday): Eid Al Adha (national holiday).<\/p>\n<p>23 July (Friday): Revolution Day (national holiday).<\/p>\n<p>2-4 August (Monday-Wednesday): Egypt is hosting the <a href=\"https:\/\/www.africa-foodmanufacturing.com\/en\/Home.html\">Africa Food Manufacturing<\/a> exhibition at the Egypt International Exhibition Center.<\/p>\n<p>5 August (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>9 August (Monday): Islamic New Year.<\/p>\n<p>12 August (Thursday): National holiday in observance of the Islamic New Year.<\/p>\n<p>12-15 September (Sunday-Wednesday): Sahara Expo: the 33rd International Agricultural Exhibition for Africa and the Middle East.<\/p>\n<p>16 September (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>30 September-2 October (Thursday-Saturday): Egypt Projects 2021 expo, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>30 September-8 October (Thursday-Friday): The Cairo International Fair, Cairo International Conference Center, Cairo, Egypt.<\/p>\n<p>1 October (Friday): Expo 2020 Dubai opens.<\/p>\n<p>6 October (Wednesday): Armed Forces Day.<\/p>\n<p>7 October (Thursday): National holiday in observance of Armed Forces Day.<\/p>\n<p>12-14 October (Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p>18 October (Monday): Prophet\u2019s Birthday.<\/p>\n<p>21 October (Thursday): National holiday in observance of the Prophet\u2019s Birthday.<\/p>\n<p>28 October (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>1-3 November (Monday-Wednesday): Egypt Energy exhibition on power and renewable energy, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>1-12 November (Monday-Friday): 2021 United Nations Climate Change Conference (COP26), Glasgow, United Kingdom.<\/p>\n<p>29 November-2 December (Monday-Thursday): Egypt Defense Expo.<\/p>\n<p>13-17 December: United Nations Convention against Corruption, Sharm El Sheikh, Egypt.<\/p>\n<p>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>14-16 February 2022 (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>1H2022: The World Economic Forum annual meeting, location TBD.<\/p>\n<p>May 2022: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>27 June-3 July 2022 (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":566387,"template":"","categories":[],"tags":[],"class_list":["post-566386","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"2bfa86d4-1a3e-4bc2-b1c6-007ed91fbd7c","teaser":"","photo_url":"https:\/\/ent.news\/2021\/6\/508.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>State banks launch an EGP 1 bn fund of funds targeting SMEs - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/state-banks-launch-an-egp-1-bn-fund-of-funds-targeting-smes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State banks launch an EGP 1 bn fund of funds targeting SMEs\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/state-banks-launch-an-egp-1-bn-fund-of-funds-targeting-smes\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T05:23:29+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/508.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/state-banks-launch-an-egp-1-bn-fund-of-funds-targeting-smes\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/state-banks-launch-an-egp-1-bn-fund-of-funds-targeting-smes\/\",\"name\":\"State banks launch an EGP 1 bn fund of funds targeting SMEs - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/state-banks-launch-an-egp-1-bn-fund-of-funds-targeting-smes\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/state-banks-launch-an-egp-1-bn-fund-of-funds-targeting-smes\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/508.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2021-06-16T14:00:26+00:00\",\"dateModified\":\"2025-12-16T05:23:29+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/state-banks-launch-an-egp-1-bn-fund-of-funds-targeting-smes\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/afternoon\/state-banks-launch-an-egp-1-bn-fund-of-funds-targeting-smes\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/state-banks-launch-an-egp-1-bn-fund-of-funds-targeting-smes\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/508.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/508.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/state-banks-launch-an-egp-1-bn-fund-of-funds-targeting-smes\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Afternoon\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/PMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"State banks launch an EGP 1 bn fund of funds targeting SMEs\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"State banks launch an EGP 1 bn fund of funds targeting SMEs - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/afternoon\/state-banks-launch-an-egp-1-bn-fund-of-funds-targeting-smes\/","og_locale":"en_US","og_type":"article","og_title":"State banks launch an EGP 1 bn fund of funds targeting SMEs","og_url":"https:\/\/enterpriseam.com\/egypt\/afternoon\/state-banks-launch-an-egp-1-bn-fund-of-funds-targeting-smes\/","og_site_name":"EnterpriseAM Egypt","article_modified_time":"2025-12-16T05:23:29+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/508.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/afternoon\/state-banks-launch-an-egp-1-bn-fund-of-funds-targeting-smes\/","url":"https:\/\/enterpriseam.com\/egypt\/afternoon\/state-banks-launch-an-egp-1-bn-fund-of-funds-targeting-smes\/","name":"State banks launch an EGP 1 bn fund of funds targeting SMEs - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/afternoon\/state-banks-launch-an-egp-1-bn-fund-of-funds-targeting-smes\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/afternoon\/state-banks-launch-an-egp-1-bn-fund-of-funds-targeting-smes\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/508.jpg?fit=%2C&ssl=1","datePublished":"2021-06-16T14:00:26+00:00","dateModified":"2025-12-16T05:23:29+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/afternoon\/state-banks-launch-an-egp-1-bn-fund-of-funds-targeting-smes\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/afternoon\/state-banks-launch-an-egp-1-bn-fund-of-funds-targeting-smes\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/afternoon\/state-banks-launch-an-egp-1-bn-fund-of-funds-targeting-smes\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/508.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/508.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/afternoon\/state-banks-launch-an-egp-1-bn-fund-of-funds-targeting-smes\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Afternoon","item":"https:\/\/enterpriseam.com\/egypt\/PMarchives\/"},{"@type":"ListItem","position":3,"name":"State banks launch an EGP 1 bn fund of funds targeting SMEs"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/566386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/afternoon"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/566387"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=566386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=566386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=566386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}