{"id":566456,"date":"2021-06-21T13:49:43","date_gmt":"2021-06-21T13:49:43","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=566456"},"modified":"2025-12-16T05:25:12","modified_gmt":"2025-12-16T05:25:12","slug":"enterprise-natural-gas-transition-will-now-include-tuk-tuks","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-natural-gas-transition-will-now-include-tuk-tuks\/","title":{"rendered":"Enterprise Natural gas transition will now include tuk-tuks."},"content":{"rendered":"<section id=\"566458\" 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=\"566458\">\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\/21\/tonight-greek-pm-in-egypt-abu-dhabi-could-get-its-first-ipo-in-four-years-also-no-world-cup-2022-for-the-unvaccinated\/\">\r\n                            TONIGHT: Greek PM in Egypt. + Abu Dhabi could get its first IPO in four years. ALSO: No World Cup 2022 for the unvaccinated                        <\/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\/21\/tonight-greek-pm-in-egypt-abu-dhabi-could-get-its-first-ipo-in-four-years-also-no-world-cup-2022-for-the-unvaccinated\/\" 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\/21\/tonight-greek-pm-in-egypt-abu-dhabi-could-get-its-first-ipo-in-four-years-also-no-world-cup-2022-for-the-unvaccinated\/')\">\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\/21\/tonight-greek-pm-in-egypt-abu-dhabi-could-get-its-first-ipo-in-four-years-also-no-world-cup-2022-for-the-unvaccinated\/\">\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: Greek PM in Egypt. + Abu Dhabi could get its first IPO in four years. 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ALSO: No World Cup 2022 for the unvaccinated\">\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+Greek+PM+in+Egypt.+%2B+Abu+Dhabi+could+get+its+first+IPO+in+four+years.+ALSO%3A+No+World+Cup+2022+for+the+unvaccinated+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F21%2Ftonight-greek-pm-in-egypt-abu-dhabi-could-get-its-first-ipo-in-four-years-also-no-world-cup-2022-for-the-unvaccinated%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\/21\/tonight-greek-pm-in-egypt-abu-dhabi-could-get-its-first-ipo-in-four-years-also-no-world-cup-2022-for-the-unvaccinated\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566458\" class=\"content-area-description single-story post-566458 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-abdel-fattah-el-sisi tag-alphabet tag-amazon tag-china tag-commodities tag-eastern-mediterranean tag-eastern-mediterranean-gas-forum tag-enterprisepm tag-esg tag-evs tag-facebook tag-gerd tag-greece tag-kyriakos-mitsotakis tag-qatar tag-technology tag-tencent tag-what-were-tracking-tonight wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It\u2019s an action-packed Monday news cycle today<\/strong>, ladies and gentlemen, with our energy diversification and transition plans guiding the conversation. This was followed by a number of key securitization, debt and VC funding news, so we hope you\u2019re strapped in.<\/p>\n<p><strong>THE BIG STORY TODAY- Bringing tuk-tuks to the fold: <\/strong>The government is planning to bring tuk-tuks into the natural gas transition program, with the Finance Ministry likely to extend financial incentives to licensed tuk-tuks to join in the transition.<\/p>\n<p><strong>HAPPENING NOW- President Abdel Fattah El Sisi held a joint press conference <\/strong><strong>with Greek Prime Minister Kyriakos Mitsotakis in Cairo today<\/strong> (<a href=\"https:\/\/www.youtube.com\/watch?v=gHdZSPqr68U\">watch, runtime: 20:30<\/a>) Both sides stressed the importance of the <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/15\/egypts-position-as-regional-gas-export-hub-for-east-med-gets-us-support\/\">East Med Gas Forum<\/a>, with Mitsotakis saying that he hopes the agreement will be a unifying factor for the region. El Sisi also stressed the importance of pushing ahead with projects including linking our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e0cf0fa3-ab69-4d53-abb1-ad0d6187e7fe\">electricity grid<\/a> to that of Greece and Cyprus.<\/p>\n<p><strong>Greece shows us love on GERD: <\/strong>Mitsotakis also called for a quick and peaceful resolution to the GERD impasse, saying the dispute has become a matter of life and death for Egyptians.<\/p>\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>USD 20 bn Saudi investment drive + more from China: <\/strong>Saudi Arabia <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc19b27e-3688-44f2-871a-cd36bd606b6e\">could invest<\/a> as much as USD 20 bn in Egypt over the next five years, Egyptian-Saudi Joint Business Council Chairman Bandar Al Ameri said.<\/li>\n<li><strong>Vacsera\u2019s new facility set to be biggest in MENA\/Africa as vaccine rollout gains speed: <\/strong>State-owned vaccine maker Vacsera\u2019s second manufacturing facility in Sixth of October City is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5b6b112-2359-4d77-8e56-ef78298a3eba\">set to become the largest<\/a> in the Middle East and Africa, churning out 3 mn doses of Sinovac a day.<\/li>\n<li><strong>The EGP will hold up better than most other emerging-market currencies <\/strong>in the event of the Fed\u2019s monetary tightening, given their <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2fd4f986-d585-4139-9570-6d948c1480b0\">attractive real interest rates<\/a>, analysts are saying.<\/li>\n<\/ul>\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>THE BIG FOREIGN BUSINESS STORY-<\/strong> <strong>Abu Dhabi could see its first IPO in four years next month: <\/strong>The emirate\u2019s sovereign wealth fund Mubadala is planning to list up to 40% of one of its subsidiaries, satellite operator Yahsat, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-21\/mubadala-satellite-group-tees-up-first-abu-dhabi-ipo-since-2017?srnd=premium-middle-east\">Bloomberg<\/a>reports. The company is expected to be listed on 14 July, with the price and size of the offering to be finalized on 9 July. This comes as UAE state companies aim to advance the domestic equity market and diversify the economy away from oil, with local listings of stakes in Mubadala subsidiary Emirates Global Aluminum, as well as an Abu Dhabi National Oil Company drilling business and a fertilizer joint venture expected to soon follow.<\/p>\n<p><strong>CORRECTION- <\/strong>HSBC has helped facilitate financing to Chinese companies working on USD 20 bn-worth of projects in Egypt, as well as provided support to the companies in other areas. The global lender didn\u2019t provide the amount in direct funding, and the projects it supported weren\u2019t just limited to infrastructure as a story we picked up yesterday from Asharq Business and featured in EnterpriseAM incorrectly suggested. The story has since been corrected on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc19b27e-3688-44f2-871a-cd36bd606b6e\">our website<\/a>.<\/p>\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>FOR TOMORROW-<\/strong><\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/819341395358814\/?active_tab=about\">CI<\/a><\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/819341395358814\/?active_tab=about\">B PSA World Tour Finals 2020-2021<\/a><\/strong><strong> are kicking off tomorrow at The Park in <\/strong><strong>Mall of Arabia <\/strong>and will run until 27 June. Tickets are currently on sale for the final two days on <a href=\"https:\/\/www.ticketsmarche.com\/cib-psa-world-tour-finals_se_1864.html\">TicketsMarche<\/a>.<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>The Clean Energy Business Council (CEBC) MENA are holding a webinar titled <\/strong><strong><a href=\"https:\/\/register.gotowebinar.com\/register\/6716521125423287567\">Energy<\/a><\/strong><strong><a href=\"https:\/\/register.gotowebinar.com\/register\/6716521125423287567\">Efficiency in the MENA region: Status and Outlook<\/a><\/strong> on 6 July at 3:30pm. The session will focus on energy efficiency developments and provide recommendations for businesses and policymakers. Later on next month, CEBC will also host the webinar <a href=\"https:\/\/www.eventbrite.ca\/e\/joint-event-wire-clean-energy-business-council-mena-tickets-157709897549\">Women Entrepreneurs in Clean Energy<\/a> on 21 July at 3pm in cooperation with the initiative, Women in Clean Energy MENA and WiRE.<\/p>\n<p><strong>The British Egyptian Business Association (BEBA) is organizing a virtual education week <\/strong><strong>from 5-6 July<\/strong> with three seminars planned. The first, taking place at 10am on 5 July, will discuss <a href=\"https:\/\/us02web.zoom.us\/webinar\/register\/WN_6h0ENWL5Rg61kAViRsbi7Q\">skills-based learning<\/a> while the <a href=\"https:\/\/us02web.zoom.us\/webinar\/register\/WN_JL59Z3vIQ8Se-s8THnt3IQ\">future of investment in education<\/a> will be the topic on the table at 12:30pm the same day. On 6 July, a talk on the <a href=\"https:\/\/us02web.zoom.us\/webinar\/register\/WN_EOlyoDeQQryADcYSJ3-_5Q\">digitalization of education in Egypt<\/a> will be held at 12pm.<\/p>\n<p>? <strong>FOR YOUR COMMUTE-<\/strong><\/p>\n<p><strong>China has apparently been taking credit for global commodities prices tapering off<\/strong><strong>, <\/strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-20\/china-faces-flareups-in-its-bid-to-tame-the-commodities-boom?srnd=premium-middle-east\">Bloomberg<\/a> reports. The country has been testing several schemes to tone down price growth, from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/85e5b4fe-bd4b-499e-a685-a7df95c13ceb\">releasing its metals stockpiles<\/a> to implementing trading curbs. So far, commodities are giving in, but it\u2019s too early for China to declare victory. Though prices of commodities such as steel have fallen from highs in May, China\u2019s markets are still fluctuating, with Shanghai copper at a two-month low and coal hitting a five-week high. But the US Federal Reserve\u2019s announcement that it may hike interest rates sooner than expected may also have played a factor in the global cool-down of commodities, with the global nature of this boom curbing China\u2019s ability to significantly influence prices.<\/p>\n<p><strong>The ethical use of facial recognition tech is the latest concern for conscientious <\/strong><strong>ESG investors, <\/strong>with over 50 global asset managers pledging earlier this month to push for the technology\u2019s ethical use by the companies they invest in, <a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2021-06-21\/first-climate-change-now-ai-big-investors-put-pressure-on-facial-recognition?sref=mmeFTDW1\">Bloomberg<\/a> reports. Though governments and corporations alike have utilized facial recognition for everything from law enforcement to marketing, the rapid utilization of the technology has outpaced the issuance of privacy rules that ensure data collection does not overstep civil liberties.<\/p>\n<p><strong>This new dilemma could soon be the next ESG factor that investors need to keep in mind before pouring funding into firms or governments. <\/strong>Companies such as Facebook, Amazon, Alphabet, and Tencent have flourished due to the lack of data laws, but the clock might be ticking on their free reign, with high level <a href=\"https:\/\/ico.org.uk\/about-the-ico\/news-and-events\/news-and-blogs\/2021\/06\/information-commissioner-s-opinion-live-facial-recognition-technology\/\">officials in the UK<\/a> and elsewhere wagging fingers at the unregulated use of facial recognition software.<\/p>\n<p><strong>Meanwhile, s<\/strong><strong>hares o<\/strong><strong>f EV startups remain unaffected in the face of market challenges, <\/strong>the <a href=\"https:\/\/www.wsj.com\/articles\/ev-startups-are-in-trouble-investors-dont-care-11624075431?mod=hp_lead_pos9\">Wall<\/a><a href=\"https:\/\/www.wsj.com\/articles\/ev-startups-are-in-trouble-investors-dont-care-11624075431?mod=hp_lead_pos9\">Street Journal<\/a> reports. Lordstown Motors, Nikola and Canoo are among the EV startups that have maintained their share prices, despite missing production targets and failing to actually begin production of any vehicles. Amateur investors who remain keen on an EV-powered future could be fuelling the continued upwards trajectory of these companies, despite the obvious setbacks, market experts say.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Qatar will only allow vaccinated fans to attend the World Cup 2022 in November <\/strong><strong>next year<\/strong>, Qatari Prime Minister Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani told state news agency QNA, according to <a href=\"https:\/\/www.reuters.com\/lifestyle\/sports\/qatar-says-only-vaccinated-fans-allowed-world-cup-2022-2021-06-21\/\">Reuters<\/a>. Doha is hosting the 2021 Arab Cup in December and will use the tournament to evaluate their preparedness for the World Cup, Sheikh Khalid added. The Gulf country is in talks to obtain 1 mn doses of an unspecified covid vaccine to immunize some of the people coming to Qatar in case global rollouts lag, the PM said, though he did not specify how the vaccines would be administered.<\/p>\n<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT-<\/strong><\/p>\n<p><strong>One of our guilty pleasures is out with a new season: <\/strong>Season four of <a href=\"https:\/\/www.netflix.com\/eg-en\/title\/80200942\">Elite<\/a> is currently on Netflix. The highschool TV show set in Madrid has a touch of murder mystery, classism, and of course heaping scoops of drama that never fail to shock. The TV show started off with a number of scholarship students joining an elite private school with some of Spain\u2019s richest children and followed them through their struggles of fitting in and eventually joining forces with those who were at first their enemies. Three seasons in \u2014 and the debauchery, deception, and revenge plots have been elevated to new levels, yet we can\u2019t seem to look away.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> \u26bd<strong> Today in Euro 2020:<\/strong> Two Group C matches are taking place at 6pm, with <strong>Austria <\/strong>playing against <strong>Ukraine <\/strong>and <strong>the Netherlands<\/strong> playing against <strong>North Macedonia<\/strong>. Meanwhile, Group B has taken over the 9pm slot with <strong>Denmark <\/strong>going up against <strong>Russia <\/strong>and <strong>Finland <\/strong>competing with <strong>Belgium<\/strong>.<\/p>\n<p><strong>Last night\u2019s fixtures: <\/strong>Italy continued its victory streak, beating Wales 1-0, while Switzerland won against Turkey 3-1.<\/p>\n<p>?<strong> OUT AND ABOUT-<\/strong><\/p>\n<p><strong>Zar ensemble Mazaher <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/244488810774167\/?active_tab=about\">is performing<\/a><\/strong><strong> at Darb 1718 on Friday at 8pm.<\/strong> Mazaher features some of the last remaining Zar practitioners in Egypt.<\/p>\n<p><strong>Horendi, a documentary film by cin\u00e9ma v\u00e9rit\u00e9 pioneer Jean Roche <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/491205095317841\/?active_tab=about\">is being shown<\/a><\/strong><strong> at The <\/strong><strong>French Institute<\/strong> in Downtown Cairo on Wednesday at 6pm. The film documents a ritual week-long dance put on by West African women to exorcise spirits.<\/p>\n<p><strong>A <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/345967506937371\/?active_tab=about\">Go Padel tournament<\/a><\/strong><strong> is taking place in Mall of Egypt <\/strong>from Thursday, 24 June to Saturday, 26 June, with prize-money of EGP 40k.<\/p>\n<p><strong>Still shying away from going out?<\/strong> Art Cafe Maadi is holding an <a href=\"https:\/\/www.facebook.com\/events\/3862190800466481\/?active_tab=about\">online city sketching<\/a><a href=\"https:\/\/www.facebook.com\/events\/3862190800466481\/?active_tab=about\">workshop<\/a>on Wednesday at 7pm.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><strong>A celebration of flavours from the Southern Mediterranean, <\/strong><strong><a href=\"https:\/\/aucpress.com\/product\/bilhana\/\">Bilhana: Wholefood<\/a><\/strong><strong><a href=\"https:\/\/aucpress.com\/product\/bilhana\/\">Recipes From Egypt, Lebanon, And Morocco<\/a><\/strong> <strong>is due out this week. <\/strong>Published by AUC Press, written by Yasmine and Shewekar Elgharably, and photographed by Yehia El Alaily. The book brings together recipes from all over the region with a contemporary twist and healthy cooking methods. From simple mezze to elaborate stews and seafood dishes, Bilhana showcases the color and variety of Middle Eastern cuisine, coupled with gorgeous images that will make your mouth water. Among the recipes featured are roasted eggplant with tahini, Alexandrian grilled shrimp, shakshuka, Moroccan lamb stew, and pomegranate and guava salad.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>Expect daytime highs of 38\u00b0C in the capital city tomorrow, falling to 22\u00b0C at night, our favorite weather app tells us.<\/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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alphabet\/\">Alphabet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/amazon\/\">Amazon<\/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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eastern-mediterranean\/\">Eastern Mediterranean<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eastern-mediterranean-gas-forum\/\">Eastern Mediterranean Gas Forum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/esg\/\">ESG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/facebook\/\">Facebook<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/greece\/\">Greece<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kyriakos-mitsotakis\/\">Kyriakos Mitsotakis<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar\/\">Qatar<\/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\/tencent\/\">Tencent<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566459\" 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 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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-4i2acp5\" data-v=\"4\" data-block-id=\"4i2acp5\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-4i2acp5-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-4i2acp5-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\" 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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=\"566460\" 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=\"566460\">\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: ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/tuk-tuk-owners-should-be-able-to-swap-their-vehicles-for-natgas-microbuses-next-month-we-have-a-price-tag-for-evs-infrastructure\/\">\r\n                            Tuk-tuk owners should be able to swap their vehicles for natgas microbuses next month + we have a price tag for EVs infrastructure                        <\/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 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photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/547.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"566461\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/tuk-tuk-owners-should-be-able-to-swap-their-vehicles-for-natgas-microbuses-next-month-we-have-a-price-tag-for-evs-infrastructure\/547-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/547.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"547.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/547.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/547.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566460\" class=\"content-area-description single-story post-566460 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-energy tag-automotive tag-energy tag-enterprisepm tag-infinity tag-infrastructure tag-investment-watch tag-oil-and-gas tag-sustainability tag-tarek-awad tag-transport tag-tuktuks 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>Tuk-tuk owners <\/strong><strong>will soon be able to<\/strong><sup><\/sup><strong> apply to the natgas transition scheme:<\/strong> The cabinet yesterday <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/160584962778599\">decided<\/a> to expand the Finance Ministry\u2019s natgas transition scheme to include tuk-tuk owners, who should be able to apply to swap out their vehicles for natgas-powered microbuses as of next month, the Finance Ministry\u2019s Automobile Financing Fund spokesperson Tarek Awad told Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=kjmaYAgZUZo\">watch, runtime: 6:39<\/a>).<\/p>\n<p><strong>The Finance Ministry will provide financial support to help cover down payments for the new buses<\/strong>, Cabinet spokesperson Nader Saad told Ten TV (<a href=\"https:\/\/www.youtube.com\/watch?v=xLu8h5ZPO18\">watch, runtime: 7:26<\/a>). The remaining amount will be paid at reduced interest rates of as little as 3% under a financing program backed by the Central Bank of Egypt, in addition to life and auto ins. coverage which will be included in the payment plan, he added. Speaking to Enterprise, the initiative\u2019s spokesperson Ahmed Abdel Razek said the size of the subsidies on offer is yet to be determined.<\/p>\n<p><strong>The government also plans on reducing the cost of tuk tuk licensing:<\/strong> A cabinet committee is expected to recommend a significant reduction of the fees required to obtain a tuk tuk license, in an attempt to legalise the status of as many of the 2.5-3 mn tuk-tuks in Egypt as possible, Saad said. Tuk tuk owners who do not register their vehicles before the deadline \u2014 which Saad posited could be set a year from the date registration for the program opens \u2014 could have their vehicles confiscated. Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=ScZphWeLNok\">watch, runtime: 8:01<\/a>) and Ala Mas\u2019ouleety also had coverage (<a href=\"https:\/\/www.facebook.com\/AhmedMoussaEG\/videos\/494365498517402\">watch, runtime: 4:52<\/a>).<\/p>\n<p><strong>Only owners who have licensed their tuk-tuks will be able to benefit from the swap initiative<\/strong>, spokesperson Ahmed Abdel Razek told Enterprise. Currently only around 10% of the country\u2019s tuk-tuks are properly licensed, he said.<\/p>\n<p><strong>This plan has been in the works for a while: <\/strong>The government had previously announced plans to phase out tuk tuks in favor of natgas buses, and had discussed <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/22\/egypt-halts-tuk-tuk-licenses-moves-forward-with-plan-to-replace-three-wheeled-vehicles-with-gas-run-minivans\/\">halting the issuing of tuk tuk licenses altogether<\/a>. The Public Enterprises Ministry later <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2a1294da-6129-4674-a301-157521404d28\">shelved plans<\/a> to work with GB Auto on manufacturing the nat gas minivans that would replace the tuk tuks. The new announcement did not include details on where the natgas vehicles to replace the tuk tuks would be sourced.<\/p>\n<p><strong>On another front, the government has delivered over 1.7k dual-fuel passenger cars so far<\/strong>, and expects to bring the total to over 2k by the end of June, Abdel Razek told us, with EGP 46.5 mn in incentives having been paid out. The program had delivered some <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d349ac34-e4ea-4609-81ce-b0baff63e965\">340 dual-fuel cars<\/a> in April, including a first batch of around 30 vehicles. The government plans to extend additional incentives worth <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f10ef3d-eec0-4f11-a112-c1dee1ee9780\">EGP 2 bn<\/a> in FY2021-2022 to encourage car owners to take part in the state\u2019s natgas transition plan.<\/p>\n<p><strong>IN OTHER ENERGY NEWS- <\/strong><\/p>\n<p><strong>EGP 450 mn will be invested in setting up charging stations: <\/strong>The government\u2019s project to set up a nationwide network for charging electric vehicles is expected to cost some EGP 450 mn, the Public Enterprises Ministry\u2019s office told us, confirming statements attributed to minister Hisham Tawfik by <a href=\"https:\/\/bit.ly\/3xwy9vs\">Al Mal<\/a>. The project \u2014 which is being led by industry leader Infinity and would see it set up 6k electric vehicle charging points across 3k stations nationwide \u2014 will be in partnership with an unnamed government entity, Tawfik told the newspaper. We reached out to Infinity, but they declined to comment, noting only that the plan is still in early stages.<\/p>\n<p><strong>Background: <\/strong>The government recently announced it\u2019s tapping Infinity to lead Egypt\u2019s largest EVs infrastructure push to date. The project aims to deploy some 2k charging points in 1k stations in Greater Cairo, Alexandria, and parts of Qalyubia during its first phase, before eventually rolling out 6k points across the country, Infinity told Enterprise in an emailed statement <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5c2b1fb1-bc6d-4c3a-b1e3-a52b3d9824d4\">last week<\/a>. It comes just in time for a state-led plan <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/90d6f7ac-fc42-4056-84d6-a14086b167f1\">to begin testing<\/a> imported Chinese E70 EV cars on Egypt\u2019s roads as a prelude to local assembly.<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infinity\/\">Infinity<\/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\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sustainability\/\">sustainability<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-awad\/\">Tarek Awad<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tuktuks\/\">Tuktuks<\/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=\"566462\" 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=\"566462\">\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: DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/efg-tmg-gb-capital-mortgage-arm-bedaya-plans-securitization-before-2021-is-out\/\">\r\n                            EFG, TMG, GB Capital mortgage arm Bedaya plans securitization before 2021 is out                        <\/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\/21\/efg-tmg-gb-capital-mortgage-arm-bedaya-plans-securitization-before-2021-is-out\/\" 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\/21\/efg-tmg-gb-capital-mortgage-arm-bedaya-plans-securitization-before-2021-is-out\/')\">\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\/21\/efg-tmg-gb-capital-mortgage-arm-bedaya-plans-securitization-before-2021-is-out\/\">\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=EFG, TMG, GB Capital mortgage arm Bedaya plans securitization before 2021 is out&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/efg-tmg-gb-capital-mortgage-arm-bedaya-plans-securitization-before-2021-is-out\/\">\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\/21\/efg-tmg-gb-capital-mortgage-arm-bedaya-plans-securitization-before-2021-is-out\/&title=EFG, TMG, GB Capital mortgage arm Bedaya plans securitization before 2021 is out\">\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=EFG%2C+TMG%2C+GB+Capital+mortgage+arm+Bedaya+plans+securitization+before+2021+is+out+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F21%2Fefg-tmg-gb-capital-mortgage-arm-bedaya-plans-securitization-before-2021-is-out%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\/21\/efg-tmg-gb-capital-mortgage-arm-bedaya-plans-securitization-before-2021-is-out\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566462\" class=\"content-area-description single-story post-566462 post type-post status-publish format-standard hentry category-speed-round-debt-watch tag-debt-watch tag-enterprisepm tag-non-banking-financial-services tag-palm-hills-developments tag-rawaj tag-real-estate tag-securitization tag-sodic 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>Mortgage provider Bedaya is planning to sell securitized bonds backed by its receivables <\/strong><strong>before the end of the year,<\/strong> EFG Hermes Finance CEO Waleed Hassouna, whose company is a partner in Bedaya, told <a href=\"https:\/\/bit.ly\/2SfpX3T\">Al Mal<\/a>. The sale would come as Bedaya is looking to set up more branches across the country from a current three branches, and widen its customer base to include potential homeowners as well as companies, Hassouna said without revealing how much Bedaya is looking to raise from the planned securitized bonds sale. Bedaya\u2019s loan portfolio currently stands at EGP 300 mn, he reportedly said. We reached out to EFG Hermes for comments on the story, but have yet to hear back as of dispatch time. <sup><\/sup><\/p>\n<p><strong>What is Bedaya:<\/strong> Bedaya was <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/17\/efgs-new-mortgage-financing-arm-bedaya-eyes-egp-500-mn-of-sales-in-2020-8551\/\">set up in 2019<\/a> as a joint venture between EFG Hermes, Talaat Moustafa Group and GB Capital. It then started operations in August last year. Bedaya announced this week it has just rolled out a new mortgage finance <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c4a5e513-d04e-492f-b052-e686a8046e1d\">mobile application<\/a> and online platform.<\/p>\n<p><strong>The securitization market has been lukewarm in 2021: <\/strong>Real estate developer <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d088db4a-d120-44ba-9c12-818517d3ad1f\">Palm Hills Development<\/a> and Arabia Investments Holding\u2019s consumer finance subsidiary <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/374240b5-0e79-486e-b585-3dd5251b2555\">Rawaj<\/a> were the only two companies to close an issuance of asset-backed securities so far into the year.<\/p>\n<p><strong>But the pipeline is deep: <\/strong>Everyone from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/09c7d28b-c599-4f89-ac9c-3c606c96d9f6\">Sodic<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ff17e27e-75fd-4665-a33c-f1f9a6b19a7b\">Misr Italia<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d0c71713-2393-4c73-96e7-3a4499828886\">Edge Holding<\/a> to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b380be47-dace-4f2a-807e-cc3ab3d6ed0d\">EFG Hermes<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9ad60923-67ef-4344-b643-49069b7ad286\">Sarwa Capital<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7863b21d-bcba-40a1-befa-b3e65d93f131\">Raya<\/a> have announced plans to securitize parts of their portfolios, but all of them are yet to see the light of day.<\/p>\n<p><strong>IN OTHER DEBT-RELATED NEWS- <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Gasco gets USD 200 mn syndicated loan for facility expansion: <\/strong>A group of eight local banks led by the National Bank of Egypt have arranged a USD 200 mn (c. EGP 3.1 bn) syndicated loan for state-owned natural gas company <a href=\"https:\/\/www.gasco.com.eg\/\">Gasco<\/a>, which plans to use the proceeds to finance expansions at its Western Desert Gas Complex in Amriya, banking sources told us<sup><\/sup>, confirming a report by <a href=\"https:\/\/bit.ly\/2SjnVQi\">Al Mal<\/a> that quoted sources it said are in the know. The lenders include Banque Misr, Banque du Caire, CIB, QNB Al Ahli, the Arab African International Bank, Bank Audi. Each bank will provide USD 25 mn of the total amount.<\/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\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palm-hills-developments\/\">Palm Hills Developments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rawaj\/\">Rawaj<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sodic\/\">SODIC<\/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=\"566463\" 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=\"566463\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/trella-closes-usd-42-mn-series-a-round-co-led-by-maersk-vc-arm\/\">\r\n                            Trella closes USD 42 mn series A round co-led by Maersk VC arm                        <\/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\/21\/trella-closes-usd-42-mn-series-a-round-co-led-by-maersk-vc-arm\/\" 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\/21\/trella-closes-usd-42-mn-series-a-round-co-led-by-maersk-vc-arm\/')\">\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\/21\/trella-closes-usd-42-mn-series-a-round-co-led-by-maersk-vc-arm\/\">\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=Trella closes USD 42 mn series A round co-led by Maersk VC arm&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/trella-closes-usd-42-mn-series-a-round-co-led-by-maersk-vc-arm\/\">\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\/21\/trella-closes-usd-42-mn-series-a-round-co-led-by-maersk-vc-arm\/&title=Trella closes USD 42 mn series A round co-led by Maersk VC arm\">\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=Trella+closes+USD+42+mn+series+A+round+co-led+by+Maersk+VC+arm+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F21%2Ftrella-closes-usd-42-mn-series-a-round-co-led-by-maersk-vc-arm%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\/21\/trella-closes-usd-42-mn-series-a-round-co-led-by-maersk-vc-arm\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/548.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"566464\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/trella-closes-usd-42-mn-series-a-round-co-led-by-maersk-vc-arm\/548-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/548.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"548.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/548.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/548.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566463\" class=\"content-area-description single-story post-566463 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterprisepm tag-logistics tag-maersk tag-startup-watch tag-startups tag-trella wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egyptian digital trucking platform Trella closed a USD 42 mn series A round <\/strong><strong>co-led <\/strong><strong>by <\/strong><strong>Maersk Growth, <\/strong>the venture capital arm of container shipping giant Maersk, according to a <a href=\"https:\/\/ent.news\/2021\/6\/TRELLA-CLOSES-US42-MILLION-FUNDING-ROUND-ENG.pdf\">statement (<\/a><a href=\"https:\/\/ent.news\/2021\/6\/TRELLA-CLOSES-US42-MILLION-FUNDING-ROUND-ENG.pdf\">pdf<\/a><a href=\"https:\/\/ent.news\/2021\/6\/TRELLA-CLOSES-US42-MILLION-FUNDING-ROUND-ENG.pdf\">)<\/a>. The financing includes USD 30 mn new equity and USD 12 mn debt facilities, which likely go towards the company plans to scale its operations in the MENAP region (Middle East, North Africa, Afghanistan and Pakistan), CEO and co-founder Omar Hagrass said in the statement. The financing will also be used to invest in the startup\u2019s \u201ctech capacity and product development,\u201d the statement read.<\/p>\n<p><strong>Who are the participants? <\/strong>The equity portion of the funding was led by Maersk Growth and Saudi Arabian investor Raed Ventures. Other investors include Algebra Ventures, Vision Ventures, Next Billion Ventures, Venture Souq, Foundation Ventures and Flexport. The debt portion was led by Lendable and other financial institutions.<\/p>\n<p><strong>One step closer to unicorn status? <\/strong>Hagrass has not been shy in expressing his ambition for the company to become an Egyptian unicorn. And with the vast scope of this financing, there\u2019s an argument to be made that it is on its way there. In 2019, Trella raised <a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/24\/trella-raises-usd-600k-in-pre-seed-funding-round-led-by-algebra\/\">USD 600k pre-seed round<\/a> led by Algebra Ventures, before it acquired <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/05\/egyptian-trucking-app-trella-acquires-rival-company-trukto-7838\/\">rival Trukto<\/a>. The freight marketplace already operates in Egypt, Saudi Arabia and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4383e397-0d03-4f31-b070-0a6971236c5f\">recently launched in Pakistan<\/a>.<\/p>\n<p><strong>Want to know how Hagrass plans to take Trella there?<\/strong> Hagrass tells us why he thinks Trella could be a unicorn and how he plans to take Trella there in season 2 of our podcast series Making It (<a href=\"https:\/\/bit.ly\/3i05d6O\">listen, runtime: 42:32<\/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\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maersk\/\">Maersk<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trella\/\">Trella<\/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=\"566465\" 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=\"566465\">\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\">GO WITH THE FLOW<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/go-with-the-flow-on-21-june\/\">\r\n                            Go with the flow on 21 June                        <\/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\/21\/go-with-the-flow-on-21-june\/\" 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\/21\/go-with-the-flow-on-21-june\/')\">\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\/21\/go-with-the-flow-on-21-june\/\">\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=Go with the flow on 21 June&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/go-with-the-flow-on-21-june\/\">\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\/21\/go-with-the-flow-on-21-june\/&title=Go with the flow on 21 June\">\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=Go+with+the+flow+on+21+June+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F21%2Fgo-with-the-flow-on-21-june%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\/21\/go-with-the-flow-on-21-june\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566465\" class=\"content-area-description single-story post-566465 post type-post status-publish format-standard hentry category-go-with-the-flow tag-egx tag-enterprisepm tag-go-with-the-flow tag-market-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The EGX30 rose 2.7% at today\u2019s close<\/strong> on turnover of EGP 1.78 bn (29% above the 90-day average). Regional investors were net buyers. The index is down 7.2% YTD.<\/p>\n<p><strong>In the green: <\/strong>Ezz Steel (+5.8%), ElSewedy Electric (+5.6%) and GB Auto (+4.6%).<\/p>\n<p><strong>In the red: <\/strong>Orascom Investment Holding (-1.6%), Credit Agricole (-1.5%) and Export Development Bank Egypt (-1.3%).<\/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\/egx\/\">EGX<\/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\/market-watch\/\">Market 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=\"566466\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566467\" 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=\"566467\">\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\">GREEN FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/green-spacs-are-starting-to-lose-out-heres-why\/\">\r\n                            Green SPACs are starting to lose out, here\u2019s why                        <\/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\/21\/green-spacs-are-starting-to-lose-out-heres-why\/\" 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\/21\/green-spacs-are-starting-to-lose-out-heres-why\/')\">\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\/21\/green-spacs-are-starting-to-lose-out-heres-why\/\">\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=Green SPACs are starting to lose out, here\u2019s why&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/green-spacs-are-starting-to-lose-out-heres-why\/\">\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\/21\/green-spacs-are-starting-to-lose-out-heres-why\/&title=Green SPACs are starting to lose out, here\u2019s why\">\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=Green+SPACs+are+starting+to+lose+out%2C+here%E2%80%99s+why+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F21%2Fgreen-spacs-are-starting-to-lose-out-heres-why%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\/21\/green-spacs-are-starting-to-lose-out-heres-why\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/549.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"566468\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/green-spacs-are-starting-to-lose-out-heres-why\/549-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/549.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"549.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/549.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/549.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566467\" class=\"content-area-description single-story post-566467 post type-post status-publish format-standard has-post-thumbnail hentry category-green-finance tag-enterprisepm tag-esg tag-green-economy tag-green-finance tag-investment-watch tag-spacs 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>The short-lived success of green SPACs is starting to fade,<\/strong> with shares of the ESG-minded blank-check companies that take too long to close acquisitions found to be losing quicker than those of their non-green counterparts, according to a piece in the <a href=\"https:\/\/www.wsj.com\/articles\/green-spacs-struggle-after-years-of-success-11623922202?mod=hp_lead_pos7\">Wall Street Journal<\/a> citing data from SPAC Research. Over the past five years, special purpose acquisition companies with a sustainability mandate have typically outperformed those without, but that\u2019s only if they manage to close acquisitions shortly after announcing targets.<\/p>\n<p><strong>SPACs looking to merge with ESG-focussed companies won big at the start of the year,<\/strong> with the value of such transactions totalling USD 117 bn for the best part of the first quarter. This was over 2.5 times more than what they raised in FY2020 and accounted for 38% of all SPAC mergers, according to data by New York-based Nomura Greentech cited by <a href=\"https:\/\/www.reuters.com\/business\/sustainable-business\/spacs-target-more-esg-companies-2021-nomura-greentech-2021-05-20\/\">Reuters<\/a> in March.<\/p>\n<p><strong>Where green SPACs outperform: <\/strong>On average, successful green SPACs that find a target and close an acquisition see a 10% increase in their share price within the 90 days <strong>after they close an agreement.<\/strong> This is better than their traditional counterparts, whose share price typically drops an average 3% despite making transactions.<\/p>\n<p><strong>\u2026 And where they lag: <\/strong>If circumstances change and we look at the 90 days after a SPAC has announced a target, but <strong>is yet to close a transaction <\/strong>\u2014 green SPACs typically lost 24% on average in share prices. By contrast, average share prices of normal SPACs fell only 9% under the same conditions.<\/p>\n<p><strong>Why are green SPACs performing worse?<\/strong> With their focus on renewables, electric vehicles, or other sustainable investments, Green SPACs have fewer options and a lot of funds already raised. Accordingly, their investor terms require them to return this capital if they take too long to close an acquisition target. Many of the targets suitable for green SPACs are also often building ambitious, somewhat futuristic businesses that are not currently generating much revenue.<\/p>\n<p><strong>SPACs also aren\u2019t necessarily the best vehicle for ESG investing,<\/strong> sustainable financing firm PathStone\u2019s chief impact officer and long-time green SPAC skeptic Erika Karp says. Inherently, SPACs in general aim for profit, which runs counter to investing with the goals that define environmental, social and governance principles, Karp adds.<\/p>\n<p><strong>The contrarian view: Green SPACs open up startups building green businesses to a new type of investor<\/strong>, as the blank-check companies are typically backed by strong institutions and funds who can also make informed decisions and invest in the right company, said Nomura GreenTech Managing Partner Jeff McDermott. Those companies previously only had access to VC funds and other risk-taking investors, but many of those investors became less risk-friendly in the aftermath of the 2008 financial crisis, according to McDermott.<\/p>\n<p><strong>Here at home, green startups actually face a similar situation: <\/strong>Green startups in the country are often seen as less enticing for backers, compared to other tech-focused companies, VCs and angel investors we spoke to for <a href=\"https:\/\/enterprise.press\/greeneconomys\/can-green-startups-turn-vcs-bankers-arent\/\">Going Green<\/a> told us. That\u2019s likely due to the perception that most of them are plagued by negative cash-flow cycles that can take up to 6-8 months to recover, and they can also be very asset-heavy. Those startups often have no recourse but to look for alternative sources of funding including crowdfunding, philanthropy, and revenue-sharing.<sup><\/sup><\/p>\n<p><strong>So are green SPACs actually a viable, useful option for startup funding? Maybe not now: <\/strong>Lets not forget that SPACs, both green and regular, haven\u2019t been doing great anyway. According to data from <a href=\"https:\/\/www.spacresearch.com\/\">SPAC Research<\/a>, they raised over USD 190 bn between the start of 2020 until now, but the bulk of those proceeds came in early 2021 \u2014 when a SPAC craze that drew enormous interest from retail investors, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53ba3644-3240-43a3-a3ac-b4bb73ff05a8\">institutional powerhouses<\/a> and celebrities alike was at its height. Before the first quarter of the year drew to a close, SPACs suddenly came under increasing <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1a7f06ad-f882-4d8a-b0c9-0d54eabf7376\">regulatory scrutiny<\/a> in the US \u2014 where most of the transactions had taken place.<\/p>\n<p><strong>They\u2019re expected to face even more headwinds going forward<\/strong> after the US\u2019 Securities and Exchange Commission appointed a new hardliner head, Gary Gensler, who built a reputation for being tough on Wall Street in the aftermath of the financial crisis, and has promised to <a href=\"https:\/\/www.cnbc.com\/2021\/05\/27\/sec-considers-new-investor-protections-for-spacs.html\">introduce further regulations<\/a> to protect retail investors from SPACs going flop.<sup><\/sup><\/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\/esg\/\">ESG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-finance\/\">GREEN FINANCE<\/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\/spacs\/\">SPACs<\/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=\"566469\" 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=\"566469\">\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\">SCIENCE &amp; TECH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/would-you-like-me-to-restock-your-fridge-dave\/\">\r\n                            Would you like me to restock your fridge, Dave?                        <\/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\/21\/would-you-like-me-to-restock-your-fridge-dave\/\" 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(); 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Picture this.<\/strong> A smart fridge that knows you\u2019re about to run out of milk, and puts in an order. The ink in your printer is about to run dry but your machine knows how to purchase a new one \u2014 and where to get the best price. Or a car that automatically pays your parking ticket for you.<\/p>\n<p><strong>Welcome to the Internet of Things:<\/strong> The tns of interconnected devices that will soon be monitoring, collecting and storing data about our world, and the increasing sophistication of digital payment systems, will enable us to delegate our purchasing decisions to the machines.<\/p>\n<p><strong>Machines talking to machines:<\/strong> The current explosion of IoT technology was put into perspective last year <a href=\"https:\/\/www.cisco.com\/c\/en\/us\/solutions\/collateral\/executive-perspectives\/annual-internet-report\/white-paper-c11-741490.html\">by Cisco<\/a>, which predicted that by 2023 some 50% of all connections in the world will be between two machines. By the same time, the number of connected devices will be three times larger than the global population, roughly equal to 3.6 devices per person.<\/p>\n<p><strong>Data monetization will increasingly work both ways:<\/strong> As more devices go online and communicate with one another, tech companies may look to outsource data collection to the masses in return for income. Jaguar Land Rover has already tried this in a pilot program two years ago, handing out parking credits to drivers who shared traffic updates and data about the roads.<\/p>\n<p><strong>The infrastructure to support this is currently being tested: <\/strong>A value transfer protocol called IOTA was developed to facilitate micropayments between IoT devices. The protocol is currently being tested in Norway as part of a project funded by the EU.<\/p>\n<p><strong>It\u2019s unlikely existing networks can handle this influx of mns of IoT payments<\/strong>, according to analysts. But decentralized payment systems using blockchain technology could provide an alternative. JPMorgan Chase blockchain unit Onyx <a href=\"https:\/\/www.reuters.com\/article\/us-jpmorgan-blockchain-space-idUSKBN2AO1GL\">recently tested<\/a> blockchain payments between two orbiting satellites, opening the door to data-for-money transactions in space.<\/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\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cisco\/\">Cisco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/internet-of-things\/\">internet of things<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/science-tech\/\">SCIENCE &amp; TECH<\/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=\"566471\" 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\/21\/your-essential-business-calendar-on-21-june-2021-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566471\" class=\"content-area-description single-story post-566471 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>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>1 July (Thursday): Deadline for 17 EGX-listed companies to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea07d9b0-6120-41be-9261-eecc78483f5a\">file their 1Q2021 earnings<\/a>.<\/p>\n<p>4 July (Sunday): Ismailia Economic Court to hold hearing on Ever Given compensation case.<\/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":566457,"template":"","categories":[],"tags":[],"class_list":["post-566456","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"b02e9912-6bbf-4282-8374-2276bf1777a1","teaser":"","photo_url":"https:\/\/ent.news\/2021\/6\/546.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>Enterprise Natural gas transition will now include tuk-tuks. - 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\/enterprise-natural-gas-transition-will-now-include-tuk-tuks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enterprise Natural gas transition will now include tuk-tuks.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-natural-gas-transition-will-now-include-tuk-tuks\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T05:25:12+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\/546.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\/enterprise-natural-gas-transition-will-now-include-tuk-tuks\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-natural-gas-transition-will-now-include-tuk-tuks\/\",\"name\":\"Enterprise Natural gas transition will now include tuk-tuks. - 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