{"id":566550,"date":"2021-06-27T13:27:44","date_gmt":"2021-06-27T13:27:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=566550"},"modified":"2025-12-16T05:27:32","modified_gmt":"2025-12-16T05:27:32","slug":"enterprise-debt-markets-could-get-a-boost-in-the-next-three-months-with-new-sukuks-and-green-bond-issuances-coming","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-debt-markets-could-get-a-boost-in-the-next-three-months-with-new-sukuks-and-green-bond-issuances-coming\/","title":{"rendered":"Enterprise Debt markets could get a boost in the next three months with new sukuks and green bond issuances coming."},"content":{"rendered":"<section id=\"566552\" 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=\"566552\">\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\/27\/tonight-contact-to-issue-egp-2-5-3-bn-in-sukuk-el-sisi-in-baghdad-for-infrastructure-diplomacy-push-also-eat-thai-curry-at-bua-khao\/\">\r\n                            TONIGHT: Contact to issue EGP 2.5-3 bn in sukuk. + El Sisi in Baghdad for infrastructure diplomacy push? ALSO: Eat Thai curry at Bua Khao.                        <\/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\/27\/tonight-contact-to-issue-egp-2-5-3-bn-in-sukuk-el-sisi-in-baghdad-for-infrastructure-diplomacy-push-also-eat-thai-curry-at-bua-khao\/\" 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\/27\/tonight-contact-to-issue-egp-2-5-3-bn-in-sukuk-el-sisi-in-baghdad-for-infrastructure-diplomacy-push-also-eat-thai-curry-at-bua-khao\/')\">\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\/27\/tonight-contact-to-issue-egp-2-5-3-bn-in-sukuk-el-sisi-in-baghdad-for-infrastructure-diplomacy-push-also-eat-thai-curry-at-bua-khao\/\">\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: Contact to issue EGP 2.5-3 bn in sukuk. + El Sisi in Baghdad for infrastructure diplomacy push? 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ALSO: Eat Thai curry at Bua Khao.\">\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+Contact+to+issue+EGP+2.5-3+bn+in+sukuk.+%2B+El+Sisi+in+Baghdad+for+infrastructure+diplomacy+push%3F+ALSO%3A+Eat+Thai+curry+at+Bua+Khao.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F27%2Ftonight-contact-to-issue-egp-2-5-3-bn-in-sukuk-el-sisi-in-baghdad-for-infrastructure-diplomacy-push-also-eat-thai-curry-at-bua-khao%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\/27\/tonight-contact-to-issue-egp-2-5-3-bn-in-sukuk-el-sisi-in-baghdad-for-infrastructure-diplomacy-push-also-eat-thai-curry-at-bua-khao\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566552\" class=\"content-area-description single-story post-566552 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-abdel-fattah-el-sisi tag-enterprisepm tag-iraq tag-jordan tag-king-abdullah-ii 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>A whole lot of debt: <\/strong>We start the week, ladies and gentlemen, with a number of major debt related news, with today\u2019s top headlines telling us that things will bode well for our debt markets.<\/p>\n<p><strong>THE BIG STORY TODAY- We start with Contact Financial Holding, which is planning to issue sukuk worth EGP 2.5-3 bn in 3Q2021. <\/strong>The announcement, and those of others the company is quarterbacking, is hoped will breathe life into an anaemic sukuk market that was expected to do big things this year.<\/p>\n<p><strong>We could also expect to see Egypt\u2019s second green bond issuance as early as next month<\/strong>, according to statements in the local press by Financial Regulatory Authority Deputy Chairman Islam Azzam. We cover both stories in greater detail in the Speed Round below.<\/p>\n<p><a id=\"tldr-story-04\" class=\"content-anchor\"><\/a><strong> Are listed companies about to start ESG reporting? <\/strong>Azzam had suggested to the local press that the FRA could soon require companies listed on the EGX, as well as non-banking financial institutions under its purview, to begin making ESG disclosures. <a href=\"https:\/\/sphera.com\/glossary\/what-is-esg-reporting-and-why-is-it-important\/\">ESG reporting<\/a> requires companies to make regulatory filings with data on how their operations line up with environmental, social and corporate governance principles.<\/p>\n<p><strong>** CATCH UP QUICK <\/strong>on the top stories from today\u2019s<strong> EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>ADQ moves forward with EGP 10 bn bid for Amoun Pharma: <\/strong>A subsidiary of Abu Dhabi\u2019s sovereign wealth fund ADQ is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5eed80cb-828d-44e8-8364-bed517c90850\">seeking<\/a> FRA approval to launch an MTO for up to 100% of Amoun Pharma and is looking to offer EGP 37.8 per share through its subsidiary Ultra Welfare.<\/li>\n<li><strong>Egypt was the Arab world\u2019s second-most attractive FDI destination in 2020: <\/strong>Egypt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3239fe24-29dc-46bd-9f7d-60b7f21d1f30\">received USD 5.9 bn<\/a> in foreign direct investment in 2020, accounting for 14.5% of the USD 40.5 bn invested in the region that year, coming second to the UAE, which received USD 19.9 bn.<\/li>\n<li><strong>Egypt received 210k doses of Sputnik V on Thursday: <\/strong>This comes under <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/492c03ce-0650-4178-9fd9-535fd97cefb2\">an agreement<\/a> with Russia to deliver 10 mn doses of the jab.<\/li>\n<\/ul>\n<p><a id=\"tldr-story-05\" class=\"content-anchor\"><\/a> <strong>President Abdel Fattah El Sisi is in Baghdad, in the first visit of an Egyptian <\/strong><strong>president to the Iraqi capital in 30 years,<\/strong> according to an Ittihadiya <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/343931830428885\">statement<\/a>. El Sisi sat down with his counterpart, Barham Salih, who called on Egypt to support Iraq in development projects and aid the country\u2019s bid toward economic reform. Salih also suggested increased cooperation in education, culture, and religion, with the duo stressing the importance of strategic cooperation amid the covid-19 pandemic, and as disputes arise in the region.<\/p>\n<p><strong>El Sisi joined Salih and Jordan\u2019s King Abdullah for a tripartite summit, <\/strong>according to a separate <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/344111560410912\">statement<\/a>. The three leaders looked into boosting economic, security, and trade ties as well counter Iran\u2019s growing influence in the region. <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/sisi-makes-first-visit-iraq-by-egyptian-leader-decades-2021-06-27\/\">Reuters<\/a> and <a href=\"https:\/\/www.thenationalnews.com\/mena\/iraq\/king-abdullah-lands-in-baghdad-for-summit-between-iraq-jordan-and-egypt-1.1249573\">The National<\/a> have both taken note of the summit.<\/p>\n<p><strong>El Sisi\u2019s <\/strong><strong>visit seemingly comes within the framework of Egypt\u2019s continued push for <\/strong><strong><a href=\"https:\/\/enterprise.press\/hardhats\/regional-infrastructure-diplomacy-whetting-appetite-egyptian-contractors\/\">infrastructure diplomacy<\/a><\/strong>. The latest display of this policy \u2014 through which the government aims to get local companies to help rebuild vital infrastructure in conflict-ridden regional countries such as Iraq \u2014 was an agreement <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8e8308fd-b228-4499-b381-477d4b03baef\">signed last week<\/a> to boost digital infrastructure cooperation with the latter country.<\/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>AmCham is featuring Oil Minister Tarek El Molla tomorrow in their <\/strong><strong><a href=\"https:\/\/www.amcham.org.eg\/events-activities\/events\/online-registration\/1377\">virtual monthly<\/a><\/strong><strong><a href=\"https:\/\/www.amcham.org.eg\/events-activities\/events\/online-registration\/1377\">event<\/a><\/strong> from 3-4pm. The minister will discuss how the oil sector has transformed in the past years, and is contributing to fueling the Egyptian economy.<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>There are two all-Egyptian finals at the 2020-2021 <\/strong><strong><a href=\"https:\/\/psaworldtour.com\/tournaments\/view\/11445\">CIB PSA World Tour Finals<\/a><\/strong><strong> today<\/strong><strong>. <\/strong><strong>Nouran<\/strong><strong> Gohar<\/strong> \u2014 who knocked out reigning champion Nour El Sherbini in the quarters \u2014 booked her place in the final by defeating Australia\u2019s Joelle King yesterday. She will play world no.2 <strong>Hania El Hammamy<\/strong>, who defeated France\u2019s Camille Serme. In the men\u2019s draw, surprise finalist <strong>Mostafa Asal<\/strong> will meet fifth seed <strong>Mohamed El Shorbagy<\/strong> in the final. Asal knocked out world no.1 Ali Farag in the quarters and second seed Tarek Momen in the semi, while El Shorbagy beat New Zealand\u2019s Paul Coll yesterday to secure his place in the final.<\/p>\n<p><strong>It\u2019s the second day of the <\/strong><strong><a href=\"https:\/\/www.thebig5constructegypt.com\/\">Big 5 Construct Egypt<\/a><\/strong> at the Cairo International Convention Center.<\/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 Canada\u2019s <a href=\"https:\/\/www.womeninrenewableenergy.ca\/\">WiRE<\/a> (Women in Renewable Energy).<\/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><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a><strong> Dubai is cashing in on the USD 1 tn global <\/strong><strong>events industry<\/strong>, greenlighting the way for Wall Street execs and jet setters to attend high-profile events amid fewer travel restrictions, writes <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-27\/dubai-lures-wall-street-jet-setters-as-events-business-rebounds?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a>. The financial capital of the Middle East is hosting one of the biggest gas conferences and an African investor summit this year, as well as multiple cricket events, including the <a href=\"https:\/\/www.espncricinfo.com\/story\/t20-world-cup-set-to-begin-on-october-17-in-uae-final-on-november-14-1267881\">T20 World Cup<\/a>. Dubai has long been a flocking ground for conferences and events, which in 2019 accounted for 3% of Dubai\u2019s USD 112 bn economy. The challenge now posed is whether the Emirate can control covid-19 cases while attracting attendees amidst changing global travel requirements and quarantine rules.<\/p>\n<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT-<\/strong><\/p>\n<p><strong>How the modern music scene came to be: <\/strong>Netflix\u2019s new docuseries <a href=\"https:\/\/www.netflix.com\/eg-en\/title\/81050786\">This Is Pop<\/a> provides an overview of pop music across the decades and continents by looking at the impact of everything from auto tune to the festival scene and boy bands. Each of the eight episodes concerns itself with a facet of pop music and brings in musicians to discuss that specific facet: Boyz II Men are brought in to talk about the wave of boy bands, T Pain looks at auto tune, Hozier discusses protest music, Oasis talk about the UK music scene, and more. \u201cThis Is Pop doesn\u2019t set out to present a unified theory of a musical genre as much as it tries to highlight significant brushstrokes in the overall painting,\u201d writes <a href=\"https:\/\/www.indiewire.com\/2021\/06\/this-is-pop-netflix-review-documentary-music-1234646507\/\">Indie Wire<\/a>.<\/p>\n<p><a id=\"tldr-story-08\" class=\"content-anchor\"><\/a> \u26bd <strong>Today in Euro 2020: <\/strong>The Netherlands is playing against the Czech Republic at 6pm with the victor going up against Denmark in the quarter finals, after the Nordic country beat Wales 4-0 in an epic match yesterday. Meanwhile, Belgium and Portugal are up at 9pm and whoever gains the lead will play against Italy who defeated Austria 2-1.<\/p>\n<p><strong>? EAT THIS TONIGHT- <\/strong><\/p>\n<p><strong>Head to Maadi\u2019s Bua Khao for some of the best thai food you\u2019ll ever get. <\/strong>The restaurant is run by a Thai family living in Cairo and they\u2019ve tapped Thai chefs to ensure that every dish on the menu is true to its origins. Bua Khao\u2019s specialty is undoubtedly their range of yellow, red, and green curry which you can have with chicken, duck, shrimp, or beef. If you work in Maadi, it's a great place to order from during the office lunch hour. Not to be missed is their wonton soup, especially if you\u2019re a fan of garlic and shrimp, as well as their coconut-infused Tom Kha Gai soup, and their delectable Pad Thai. From their appetizers to their main courses, you really can\u2019t go wrong with anything you decide to feast on\u2026 trust us.<\/p>\n<p>?<strong> OUT AND ABOUT-<\/strong><\/p>\n<p><strong>Get a scent customized to your personality <\/strong>at an exhibit by Frederik Duerinck called <a href=\"https:\/\/www.instagram.com\/p\/CQgRA1rnQQM\/\">Algorithmic Perfumery<\/a>. The Cairotronica organized event is taking place at AUC Tahrir Cultural Center until 5 July.<\/p>\n<p><strong>El Sawy Culturewheel has a <\/strong><strong><a href=\"https:\/\/culturewheel.com\/en\/events\/WKVxMeExd6\">rock festival<\/a><\/strong><strong> going on tomorrow<\/strong>, featuring local bands Tafaqum, Rocksea and Kato Hafiz from 6-10pm.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><strong>The minutiae of Cairo explored: <\/strong>Max Rodenbeck \u2014 the previous Middle East bureau chief for The Economist \u2014 spent years working and living in Cairo, which he describes as \u2018one of the most ancient, colorful, and multifaceted of cities.\u2019 <a href=\"https:\/\/aucpress.com\/product\/cairo-3\/\">Cairo: The City Victorious<\/a> is Rodenbeck\u2019s exploration of Cairo\u2019s rich history and dusty, chaotic, but beautiful present. The capital city of Egypt has long been a bustling metropolis that has managed to redefine itself time and time again under different regimes, ideologies, and stages of urban development. First published in 1998, the scope of this book will miss out on much of how new ring road flyaways, gated communities, and satellite cities that have altered life in the capital, but captures much of the city\u2019s indomitable spirit which has endured through the ages and earned its its moniker of \u201cthe victorious.\u201d<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>It\u2019s going to be a hot one\u2026 The mercury is rising to 42\u00b0C tomorrow during the day before falling to 24\u00b0C at night, according to our favorite weather app.<\/p>\n\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                            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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\/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\" 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Contact to issue EGP 2.5-3 bn sukuk in 3Q2021                        <\/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\/27\/contact-to-issue-egp-2-5-3-bn-sukuk-in-3q2021\/\" 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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data-image-title=\"593.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/593.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/593.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566554\" class=\"content-area-description single-story post-566554 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-debt-watch tag-contact-financial tag-debt-watch tag-enterprisepm tag-fintech 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 href=\"https:\/\/contact.eg\/\">Contact<\/a><\/strong> <strong>Financial Holding, formerly Sarwa Capital Holding, will issue sukuk worth EGP <\/strong><strong>2.5-3 bn in 3Q2021 in a bid to finance the activities of its subsidiaries<\/strong>, unnamed source at the company told Enterprise, confirming statements by CEO Saeed Zaatar to <a href=\"https:\/\/bit.ly\/3jjbEq8\">local press<\/a>. The company provided no further details on the plan. This will be the second sale after the company closed a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/638cf2dd-260a-4ffc-b6bd-7dced92a6222\">EGP 2.5 bn record issuance<\/a> of sukuk last year.<\/p>\n<p><strong>This won\u2019t be the only sukuk sale this year: <\/strong>Besides its own plan to sell sukuk, Contact is working with others, primarily real estate developers, to manage their sale of EGP 5-7.5 bn worth of the sharia-compliant bonds through its sukuk advisory arm, the source noted, without specifying a timeline. Contact was previously said to be quarterbacking at least three sukuk <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/670c1e36-7e3f-4348-b5e2-cc599466992e\">issuances worth some EGP 10 bn<\/a> and expected to hit the market this year.<\/p>\n<p><strong>What to expect: <\/strong>The planned sales include a EGP 5.5 bn offering for Palm Hills Development, a EGP 3 bn sale for Hassan Allam Properties, and a EGP 1.1 bn offering for Amer Group. Later in June, Wadi Degla Developments announced plans for a sukuk issuance worth nearly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/214a971d-d6bf-4aff-9645-2e61b7391838\">EGP 2 bn<\/a> to be managed by Contact Financial.<\/p>\n<p><strong>Contact isn\u2019t the only lead manager: <\/strong>It\u2019s in a \u201cstrategic alliance\u201d with state-owned Banque Misr investment arm Misr Capital to work together exclusively on sukuk issuances under a mandate from the government, CFO Ayman El Sawy told us <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/214a971d-d6bf-4aff-9645-2e61b7391838\">earlier this month<\/a>.<\/p>\n<p><strong>Some were hoping for a blockbuster year for sukuk \u2026 :<\/strong> Some EGP 5.1 bn of the sharia-compliant securities were issued last year, leading to a number of bold forecasts for 2021. Several market experts have predicted that <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f4d3100f-91b3-49d0-ae20-6f818c07781d\">EGP 20-25 bn<\/a> of sukuk could be issued this year, a fivefold increase on 2020.<\/p>\n<p><strong>\u2026 But it didn't quite happen, yet: <\/strong>No sukuk sales took place this year. So far, only three companies have issued sukuk since the Financial Regulatory Authority <a href=\"https:\/\/enterprise.press\/stories\/2019\/04\/15\/financial-regulatory-authority-issues-regulations-for-sukuks-in-egypt\/\">put in place the regulatory framework in 2019<\/a>: Talaat Moustafa Group <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ef7701a0-d587-43d5-83be-5cd65ef90328\">in April 2020<\/a>, Contact (back when it was called Sarwa) <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/638cf2dd-260a-4ffc-b6bd-7dced92a6222\">in November 2020<\/a> and private education outfit Cira <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1fc06ee3-1afc-47d3-94fd-f727ba55c325\">in December<\/a> of the same year.<\/p>\n<p><strong>IN OTHER COMPANY NEWS-<\/strong> <strong>Contact is one step closer to launching an e-payment unit<\/strong>: Contact has completed all procedures to set up a 99.9% owned e-payments company, dubbed Contact E-payment Solutions, the source at the company said, confirming <a href=\"https:\/\/bit.ly\/3AdV0ye\">a separate press report<\/a>. State-owned Banque Misr will collect and settle the new company\u2019s payments, under an agreement signed between both companies, according to the source. The entity\u2019s services will be available through POS and will be plugged into the company\u2019s digital platforms, the source noted. The new entity will also have a dedicated app for the payments of utility bills.<\/p>\n\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\/contact-financial\/\">Contact Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/fintech\/\">Fintech<\/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=\"566556\" 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=\"566556\">\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: GREEN ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/27\/egypts-first-local-green-bond-sale-approaches\/\">\r\n                            Egypt\u2019s first local green bond sale approaches                        <\/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\/27\/egypts-first-local-green-bond-sale-approaches\/\" 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\/27\/egypts-first-local-green-bond-sale-approaches\/')\">\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\/27\/egypts-first-local-green-bond-sale-approaches\/\">\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=Egypt\u2019s first local green bond sale approaches&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/27\/egypts-first-local-green-bond-sale-approaches\/\">\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\/27\/egypts-first-local-green-bond-sale-approaches\/&title=Egypt\u2019s first local green bond sale approaches\">\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=Egypt%E2%80%99s+first+local+green+bond+sale+approaches+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F27%2Fegypts-first-local-green-bond-sale-approaches%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\/27\/egypts-first-local-green-bond-sale-approaches\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566556\" class=\"content-area-description single-story post-566556 post type-post status-publish format-standard hentry category-speed-round-green-economy tag-cib tag-debt-watch tag-enterprisepm tag-esg tag-financial-regulatory-authority tag-green-bonds tag-green-economy tag-legislation tag-regulation tag-sustainability 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>The first local green bonds sale could go ahead in as little as two to three weeks,<\/strong> Financial Regulatory Authority Deputy Chairman Islam Azzam was quoted as saying by <a href=\"https:\/\/bit.ly\/3x1wRbV\">Al Mal<\/a>, though he did not name the issuer. The USD 100 mn sale \u2014 expected to be the country\u2019s first green bond issuance since the USD 750 mn sale by the government <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d1b54d5-5efa-41c9-ac8b-728b105b2ef0\">last year<\/a> \u2014 is still pending \u201ca few final procedures,\u201d Azzam said, without giving further details. We reached out to Azzam and other FRA representatives, but none of them were available to comment as of dispatch time.<\/p>\n<p><strong>As far as we know, Egypt\u2019s largest private sector bank CIB is the only party with a green bond issuance in its pipeline. <\/strong>The sale was previously expected to take place in October 2020, back when the bank\u2019s head of debt capital markets Heba Abdellatif <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/00d6c9a2-72c7-4dce-8957-52ce5b25c1a0\">told us that<\/a> due diligence was in its final stages. CIB was previously courting the International Finance Corporation (IFC) for the inaugural sale. The IFC <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e9609fe5-7ebc-42ee-864a-41463c932a27\">was looking to invest<\/a> USD 65 mn in the first tranche of what were said to be five-year bonds, and potentially planned to bring its investment up to USD 100 mn in another tranche. CIB declined to comment on Azzam\u2019s statements.<\/p>\n<p><strong>Egypt\u2019s last green bond issuance was well-received by the market: <\/strong>The Finance Ministry took the country\u2019s maiden USD 750 mn sovereign green bonds to market last September. The issuance was almost 5x oversubscribed, attracting some USD 3.7 bn worth of orders. Minister Mohamed Maait <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/32c7b2cc-95aa-4cb6-962f-496eade1e38d\">said this month<\/a> that a second issuance is in the cards during the state\u2019s upcoming fiscal year, which starts on 1 July, but that the matter was not yet settled.<\/p>\n<p><strong>What are green bonds?<\/strong> A green bond is a type of fixed-income instrument that is specifically earmarked to raise money for climate and environmental projects. The World Bank was the first organization to offer green bonds in 2008 and has since issued over USD 13 bn worth through more than 150 transactions in 20 currencies. Green bonds were introduced following changes in 2018 <a href=\"https:\/\/enterprise.press\/stories\/2018\/07\/18\/fra-completes-capital-markets-act-regs-to-make-life-insurance-mandatory-for-sme-financing\/\">to the Capital Markets Act<\/a> which also opened the door for other new financial instruments including Islamic sukuk, short selling, and a futures and commodities exchange.<\/p>\n\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\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/esg\/\">ESG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-bonds\/\">green bonds<\/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\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation\/\">regulation<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566557\" 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=\"566557\">\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: SME WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/27\/73-of-egypts-smes-are-confident-in-growth-over-the-coming-year-mastercard\/\">\r\n                            73% of Egypt\u2019s SMEs are confident in growth over the coming year- Mastercard                        <\/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\/27\/73-of-egypts-smes-are-confident-in-growth-over-the-coming-year-mastercard\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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       <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=73% of Egypt\u2019s SMEs are confident in growth over the coming year- Mastercard&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/27\/73-of-egypts-smes-are-confident-in-growth-over-the-coming-year-mastercard\/\">\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\/27\/73-of-egypts-smes-are-confident-in-growth-over-the-coming-year-mastercard\/&title=73% of Egypt\u2019s SMEs are confident in growth over the coming year- Mastercard\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                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src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/594.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"566558\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/27\/73-of-egypts-smes-are-confident-in-growth-over-the-coming-year-mastercard\/594-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/594.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"594.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/594.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/594.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566557\" class=\"content-area-description single-story post-566557 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-sme-watch tag-enterprisepm tag-mastercard tag-smes tag-speed-round-sme-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-03\"><\/a> <strong>73% of small and medium businesses in Egypt are confident that their business will do <\/strong><strong>well over the coming year<\/strong>, according to Mastercard\u2019s inaugural <a href=\"https:\/\/newsroom.mastercard.com\/mea\/press-releases\/73-of-smes-in-egypt-optimistic-about-future-growth-guided-by-potential-for-access-to-training-better-data-and-digital-payments-mastercard-mea-sme-confidence-index\/\">MEA SME Confidence Index<\/a>. 85% of businesses surveyed said they believed their revenues would grow or hold steady over the coming 12 months, with 68% projecting an increase.<\/p>\n<p><strong>But 43% said they remained concerned over challenges to growing their business: <\/strong>Half of respondents said the rising cost of doing business was the main thing on their mind, while 46% said getting access to capital was their top concern.<\/p>\n<p><strong>What do these companies need to grow?<\/strong> 47% want better access to training and development, 45% said they needed better data and insights, while others said expanding their acceptance of digital payments would be what would kick start their business growth.<\/p>\n<p><strong>SMEs really want to get involved in partnerships:<\/strong> 57% said private sector partnerships had the biggest potential to positively impact their business, while 52% said they could benefit from government-led initiatives.<\/p>\n<p><strong>Across the region, <\/strong><strong><a href=\"https:\/\/newsroom.mastercard.com\/mea\/press-releases\/81-of-smes-in-mena-optimistic-about-future-growth-guided-by-potential-for-digitalization-better-data-access-to-credit-and-upskilling-mastercard-mea-sme-confidence-index\/\">81% of respondents<\/a><\/strong><strong> on average expressed optimism in their growth prospects over the next year. <\/strong>Of the approximately 100 businesses surveyed in the UAE, Saudi Arabia, and Egypt, SME\u2019s in the <a href=\"https:\/\/newsroom.mastercard.com\/mea\/press-releases\/88-of-smes-in-the-uae-optimistic-about-future-growth-guided-by-potential-for-digitalization-access-to-funding-and-upskilling-mastercard-mea-sme-confidence-index\/\">UAE<\/a> were the most optimistic, with 88% saying they were hopeful about the coming year. In <a href=\"https:\/\/newsroom.mastercard.com\/mea\/press-releases\/83-of-smes-in-saudi-arabia-optimistic-about-future-growth-guided-by-potential-for-digitalization-access-to-better-data-training-and-upskilling-mastercard-mea-sme-confidence-index\/\">Saudi Arabia<\/a>, 83% said they were confident in future growth.<\/p>\n\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\/mastercard\/\">Mastercard<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-round-sme-watch\/\">SPEED ROUND: SME 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=\"566559\" 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=\"566559\">\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: STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/27\/minly-closes-usd-3-6-mn-seed-round-eyes-regional-expansion\/\">\r\n                            Minly closes USD 3.6 mn seed round, eyes regional expansion                        <\/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\/27\/minly-closes-usd-3-6-mn-seed-round-eyes-regional-expansion\/\" 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\/27\/minly-closes-usd-3-6-mn-seed-round-eyes-regional-expansion\/')\">\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\/27\/minly-closes-usd-3-6-mn-seed-round-eyes-regional-expansion\/\">\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=Minly closes USD 3.6 mn seed round, eyes regional expansion&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/27\/minly-closes-usd-3-6-mn-seed-round-eyes-regional-expansion\/\">\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\/27\/minly-closes-usd-3-6-mn-seed-round-eyes-regional-expansion\/&title=Minly closes USD 3.6 mn seed round, eyes regional expansion\">\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=Minly+closes+USD+3.6+mn+seed+round%2C+eyes+regional+expansion+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F27%2Fminly-closes-usd-3-6-mn-seed-round-eyes-regional-expansion%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\/27\/minly-closes-usd-3-6-mn-seed-round-eyes-regional-expansion\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566559\" class=\"content-area-description single-story post-566559 post type-post status-publish format-standard hentry category-speed-round-startup-watch tag-enterprisepm tag-minly tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Customized celeb video platform <\/strong><strong><a href=\"https:\/\/minlyapp.com\/\">Minly<\/a><\/strong><strong> closed a USD 3.6 mn seed round<\/strong> co-led by 4DX Ventures, B&Y Venture Partners, and Global Ventures, according to a <a href=\"https:\/\/ent.news\/2021\/6\/Press-Release-Minly-a-Creator-Economy-Platform-out-of-Egypt-Raises-a-3.6M-Seed-Round.pdf\">press release (pdf)<\/a>. The oversubscribed round also included regional funds and a number of angel investors. Minly was launched in 2020 and allows fans to request personalized videos from celebrities, influencers, or musicians for a price \u2014 similar to the US\u2019s <a href=\"https:\/\/www.cameo.com\/\">Cameo<\/a>. Minly now has a diverse <a href=\"https:\/\/minlyapp.com\/celebrities\">roster of talents<\/a> that include Tamer Hosny, Hazem Imam, and Sawsan Badr. The funding will be used to scale across the region and introduce a suite of new products, said co-founder Mohamed El Shinnawy.<\/p>\n\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\/minly\/\">Minly<\/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=\"566560\" 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=\"566560\">\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\">GO WITH THE FLOW<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/27\/go-with-the-flow-on-27-june\/\">\r\n                            Go with the flow on 27 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\/27\/go-with-the-flow-on-27-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(); 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Foreign investors were net sellers. The index is down 5.0% YTD.<\/p>\n<p><strong>In the green: <\/strong>Palm Hills Development (+2.8%), Ibnsina Pharma (+2.2%) and TMG Holding (+2.0%).<\/p>\n<p><strong>In the red: <\/strong>Qalaa Holdings (-2.6%), AMOC (-2.4%) and Sidi Kerir Petrochemicals (-1.3%).<\/p>\n\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=\"566561\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566562\" 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=\"566562\">\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\">GENERATION Y<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/27\/poor-poor-millennials\/\">\r\n                            Poor, poor millennials                        <\/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\/27\/poor-poor-millennials\/\" 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\/27\/poor-poor-millennials\/')\">\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\/27\/poor-poor-millennials\/\">\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=Poor, poor millennials&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/27\/poor-poor-millennials\/\">\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\/27\/poor-poor-millennials\/&title=Poor, poor millennials\">\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=Poor%2C+poor+millennials+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F27%2Fpoor-poor-millennials%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\/27\/poor-poor-millennials\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566562\" class=\"content-area-description single-story post-566562 post type-post status-publish format-standard hentry category-generation-y tag-covid-19 tag-education tag-employment tag-enterprisepm tag-generation-y tag-mena tag-technology tag-us 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>The common belief that millennials are doing worse than previous generations may not <\/strong><strong>be true after all \u2026<\/strong> At least, that\u2019s what Allison Schrager argues in a <a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2021-06-23\/millennials-the-wealthiest-generation-believe-it\">Bloomberg Opinion<\/a> piece. Instead of looking at the hypothesis in purely quantitative terms, you should also look at how things match up in the much-changed world, she says. While statistically speaking millennials \u2014 who are generally defined as the generation born between 1981 and 1996 \u2014 are less likely to own homes than their parents' generation, they may have just invested their time and money differently. Taking into account a more expansive definition of wealth, perhaps millennials are not exactly the downtrodden underdogs meme culture insists they are.<\/p>\n<p><strong>The first thing to consider is education. <\/strong>While millennials are in twice as much debt as their parents were at the same age, most of the debt comes from student loans, indicating that they have invested more into education for their future, and therefore higher paying jobs. While millennials are less likely to own a home, that is also because these well-educated young people tend to live in large urban areas, where the higher paying jobs are. \u201cIf you live somewhere you can\u2019t afford to buy a home, it might be because you live somewhere that puts your career on a fast track,\u201d Schrager writes.<\/p>\n<p><strong>Is it because millennials have more stability? *scoffs*: <\/strong>Another argument Schrager poses is that millennials tend to change jobs less frequently than previous generations. The stable, predictable income is more valuable than the riskier, if higher, wages our grandparents used to get by jumping from job to job. It also explains why millennials are slower at getting promotions and raises, as these increases are partly driven by moving around. Adding to this stability is the abundance of retirement plans at work, which were harder to come by for boomers in the workplace. <strong>However, her assumption might not be correct<\/strong>, as a <a href=\"https:\/\/www.gallup.com\/workplace\/231587\/millennials-job-hopping-generation.aspx\">Gallup report<\/a> actually found that millennials are the generation most likely to switch jobs.<\/p>\n<p><strong>While we appreciate the optimism, we\u2019re not sold just yet:<\/strong> The statistics only fuel our doubts, with millennials controlling just 4.6% of US wealth, despite making up the largest portion of the workforce. Meanwhile, baby boomers hold 53% of the country\u2019s wealth, Gen X 25%, and the silent generation 17, according to <a href=\"https:\/\/www.cnbc.com\/2020\/10\/09\/millennials-own-less-than-5percent-of-all-us-wealth.html\">CNBC<\/a>. Maybe you\u2019d like to play devil\u2019s advocate and say that the numbers make sense, as older generations have had more time to fill their bank accounts. But in 1989, when baby boomers were the same age as millennials today, they held 21% of the US\u2019 wealth, almost five times as much.<\/p>\n<p><strong>Surveys conducted in the MENA region indicate a similar problem: <\/strong>While there aren\u2019t similar statistics to quantify the wealth gap in Egypt, a regional <a href=\"https:\/\/www.ipsos.com\/sites\/default\/files\/ct\/publication\/documents\/2018-09\/MENAs_Millennials_Decoded.pdf\">survey by Ipsos<\/a> gives a snapshot of millennials' concerns. Dubbing them an \u201canxious generation,\u201d the survey found that 61% of millennials feel that it was easier for older generations to make money. Meanwhile, 41% feel overwhelmed by financial burdens and 14% are in debt. When asked how optimistic they are for the future, Egyptian millennials came in last at 37% compared to the 73% in Saudi who said they were excited for the future. The pessimism was attributed to concerns over the political, social, and economic environment in the country.<\/p>\n<p><strong>We don\u2019t mean to be morbid\u2026<\/strong> Increased life expectancy worldwide could also be playing a factor in millennials' poverty. Inheritance of assets is an easy and quick way to redistribute wealth among generations. However, with advances in healthcare and fewer wars, many millennials haven\u2019t inherited wealth from their parents or grandparents just yet. <a href=\"https:\/\/www.visualcapitalist.com\/charting-the-growing-generational-wealth-gap\/\">Visual Capitalist<\/a> charts the wealth gap between generations in the US and notes that millennials are expected to inherit USD 68 tn from baby boomer parents by 2030.<\/p>\n<p><strong>And covid-19 is dividing the generation into \u2018the millennial rich\u2019 and \u2018the millennial poor\u2019:<\/strong> Following the 2008 financial crisis and political unrest over the past decade, the pandemic is the latest in a string of setbacks to befall millennials\u2019 wealth potential. The intergenerational socioeconomic gap is reflected in the K-shaped recovery the US has been experiencing, in which the wealthy are bouncing back and the lower-earning are staying down, according to <a href=\"https:\/\/www.businessinsider.com\/pandemic-widened-millennial-wealth-gap-economic-inequality-rich-poor-henry-2021-1\">Business Insider<\/a>. Generational researcher Jason Dorsey has categorized the generation into the \u201cme-llennials\u201d who feel financially and professionally behind and \u201cmega-llennials\u201d who are financially sound. The pandemic has further exacerbated the high income inequality as many grapple with issues such as unemployment, and increased childcare costs in an economy that doesn\u2019t always support them.<\/p>\n<p><strong>But Gen Z has learned from their predecessors\u2019 mistakes: <\/strong>Bank of America estimates that Gen Z will have a higher income than millennials by 2031 and will be the \u201cmost disruptive generation ever\u201d to economies, markets and social systems, according to <a href=\"https:\/\/www.cnbc.com\/2020\/11\/20\/gen-z-incomes-predicted-to-beat-millennials-in-10-years.html\">CNBC<\/a>. The bank defines the generation as those born between 1996 and 2016. Gen Z are more tech savvy than millennials and understand the benefit of going into career paths that have proved resilient in times of crisis. They will also likely be quick beneficiaries of \u201cThe Great Wealth Transfer\u201d from older cohorts. As they go into the workforce, Gen Z\u2019s income is expected to increase fivefold by 2030 to USD 33 tn, accounting for over a quarter of global income.<\/p>\n\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\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/employment\/\">employment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/generation-y\/\">GENERATION Y<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mena\/\">MENA<\/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\/us\/\">US<\/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=\"566563\" 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\/27\/your-essential-business-calendar-on-27-june-2021-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566563\" class=\"content-area-description single-story post-566563 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>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>28 June (Monday): AmCham is featuring Oil Minister Tarek El Molla in their <a href=\"https:\/\/www.amcham.org.eg\/events-activities\/events\/online-registration\/1377\">virtual monthly event<\/a> from 3-4pm. <sup><\/sup><\/p>\n<p>29 June (Tuesday): The London School of Economics (LSE) discussion \u201c<a href=\"https:\/\/www.lse.ac.uk\/africa\/Events\/Public-Events\/Policy-Reform-Rania-Al-Mashat\">Policy Reform in the Making: Stakeholder Engagement through Economic Diplomacy<\/a>\u201d from 3pm-4:15pm. You can register through <a href=\"https:\/\/lse.zoom.us\/webinar\/register\/WN_SvozdZzER9S9yAhBRgKE9w\">this link<\/a>.<\/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): 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>1-10 July (Thursday-Saturday): The government\u2019s fuel pricing committee <a href=\"https:\/\/bit.ly\/3wQkCz2\">will meet to announce<\/a> 3Q prices.<\/p>\n<p>4 July (Sunday): Ismailia Economic Court to hold hearing on Ever Given compensation case.<\/p>\n<p>Mid-July: <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=20062021&id=8bcd83a3-21d4-44b1-940d-ddcc78544942\">Legislative session expected to end<\/a>.<\/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>23 July-11 August (Friday-Wednesday): Tokyo 2020 Olympics.<\/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>15 September (Wednesday): The <a href=\"https:\/\/almalnews.com\/%D9%84%D9%84%D9%85%D8%B1-%D8%A9-%D8%A7%D9%84%D8%AB%D8%A7%D9%86%D9%8A%D8%A9-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1-%D9%85%D8%A4%D8%AA%D9%85%D8%B1-%D8%B1%D8%A4%D8%B3%D8%A7%D8%A1-%D8%A7%D9%84%D9%82%D8%B7\/\">CFO Leadership & Strategy Summit<\/a> is taking place in Egypt. <sup><\/sup><\/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): 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 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>24-28 October (Sunday-Thursday) <a href=\"https:\/\/www.cairowaterweek.eg\/\">Cairo Water Week<\/a>, Cairo, Egypt.<\/p>\n<p>27-28 October (Wednesday-Thursday) <a href=\"https:\/\/platforms-root-technologies.com\/icec-2021\/\">Intelligent Cities Exhibition & Conference<\/a>, Royal Maxim Palace Kempinski, Cairo, Egypt.<\/p>\n<p>28 October (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>30 October - 4 November (Saturday-Thursday): The first edition of <a href=\"https:\/\/globalswimseries.com\/ryan-lochte-announces-first-race-the-legends-event-in-egypt\/\">Race The Legends<\/a>, Egypt.<\/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>November: Egypt will <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/163314772505618\">host another round of talks<\/a> to reach a potential Egyptian-Eurasian trade agreement, which can significantly contribute to increasing the volume of Egyptian exports to the Russia-led bloc that includes Armenia, Belarus, Kazakhstan and Kyrgyzstan.<\/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>12-14 December (Sunday-Tuesday): <a href=\"http:\/\/www.foodafrica-expo.com\/\">Food Africa Cairo<\/a> trade exhibition, Egypt International Exhibition Center, Cairo, Egypt.<\/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\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":566551,"template":"","categories":[],"tags":[],"class_list":["post-566550","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d3e6faac-c7b4-4d0c-9c74-1c7467d89664","teaser":"","photo_url":"https:\/\/ent.news\/2021\/6\/592.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 Debt markets could get a boost in the next three months with new sukuks and green bond issuances coming. - 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-debt-markets-could-get-a-boost-in-the-next-three-months-with-new-sukuks-and-green-bond-issuances-coming\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enterprise Debt markets could get a boost in the next three months with new sukuks and green bond issuances coming.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-debt-markets-could-get-a-boost-in-the-next-three-months-with-new-sukuks-and-green-bond-issuances-coming\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T05:27:32+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\/592.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-debt-markets-could-get-a-boost-in-the-next-three-months-with-new-sukuks-and-green-bond-issuances-coming\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-debt-markets-could-get-a-boost-in-the-next-three-months-with-new-sukuks-and-green-bond-issuances-coming\/\",\"name\":\"Enterprise Debt markets could get a boost in the next three months with new sukuks and green bond issuances coming. - 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