{"id":542511,"date":"2022-01-02T04:09:31","date_gmt":"2022-01-02T04:09:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=542511"},"modified":"2025-12-15T19:55:00","modified_gmt":"2025-12-15T19:55:00","slug":"egx-boss-says-4-5-companies-could-offer-shares-this-year","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egx-boss-says-4-5-companies-could-offer-shares-this-year\/","title":{"rendered":"EGX boss says 4-5 companies could offer shares this year"},"content":{"rendered":"<section id=\"542513\" 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=\"542513\">\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're Tracking Today<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/this-morning-the-inaugural-enterpriseam-of-2022-private-sector-minimum-wage-egx-capital-gains-tax-in-effect-more-schools-close-due-to-bad-weather\/\">\r\n                            THIS MORNING: The inaugural EnterpriseAM of 2022; Private sector minimum wage, EGX capital gains tax in effect; More schools close due to bad weather;                        <\/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\/2022\/01\/02\/this-morning-the-inaugural-enterpriseam-of-2022-private-sector-minimum-wage-egx-capital-gains-tax-in-effect-more-schools-close-due-to-bad-weather\/\" 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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Private sector minimum wage, EGX capital gains tax in effect; More schools close due to bad weather;&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/this-morning-the-inaugural-enterpriseam-of-2022-private-sector-minimum-wage-egx-capital-gains-tax-in-effect-more-schools-close-due-to-bad-weather\/\">\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\/2022\/01\/02\/this-morning-the-inaugural-enterpriseam-of-2022-private-sector-minimum-wage-egx-capital-gains-tax-in-effect-more-schools-close-due-to-bad-weather\/&title=THIS MORNING: The inaugural EnterpriseAM of 2022; Private sector minimum wage, EGX capital gains tax in effect; More schools close due to bad weather;\">\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=THIS+MORNING%3A+The+inaugural+EnterpriseAM+of+2022%3B+Private+sector+minimum+wage%2C+EGX+capital+gains+tax+in+effect%3B+More+schools+close+due+to+bad+weather%3B+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F02%2Fthis-morning-the-inaugural-enterpriseam-of-2022-private-sector-minimum-wage-egx-capital-gains-tax-in-effect-more-schools-close-due-to-bad-weather%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\/2022\/01\/02\/this-morning-the-inaugural-enterpriseam-of-2022-private-sector-minimum-wage-egx-capital-gains-tax-in-effect-more-schools-close-due-to-bad-weather\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542513\" class=\"content-area-description single-story post-542513 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-education tag-egx tag-enterpriseam tag-minimum-wage tag-schools tag-tax tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good morning, wonderful people, and welcome to our first EnterpriseAM of 2022. <\/strong>We hope you had a fantastic New Year\u2019s weekend and are looking forward to the new year as much as we are.<\/p>\n<p><strong>PSA #1- We\u2019re waiting for word from on high about whether or not this Thursday, 6 <\/strong><strong>January, will be a <\/strong><strong>national holiday<\/strong> in celebration of Coptic Christmas, which falls on Friday. We expect it will be and hopefully we\u2019ll soon see notes from cabinet \/ the central bank \/ the stock market in our inboxes.<\/p>\n<p><strong>PSA #2- Schools will be closed in the Red Sea cities of Sharm El Sheikh, Hurghada and <\/strong><strong>Safaga today as well as in Assiut<\/strong>, <a href=\"https:\/\/bit.ly\/3eEZKTQ\">Al Masry Al Youm<\/a> reports. The torrential rain, thunderstorms, strong winds, hail and even snow seen in some parts of the country over the weekend are expected to ease today, with conditions stabilizing nationwide by Monday, according to the <a href=\"https:\/\/ent.news\/2022\/1\/EMA-forecast-1.1.21.pdf\">Egyptian Meteorological Authority (pdf)<\/a>. School was out in five governorates yesterday, including Alexandria. Three people were killed and 13 injured in weather-related accidents on Friday, <a href=\"https:\/\/gate.ahram.org.eg\/News\/3235257.aspx\">Ahram Gate<\/a> reported, citing a Health Ministry\u2019s spokesperson.<\/p>\n<p><strong>There\u2019s a chance of a few sprinkles this afternoon in Cairo<\/strong> with a daytime high of 19&deg;C, falling to 11&deg;C overnight. Expect typical winter weather for the rest of the week, with highs in the 18-19&deg;C band through next Sunday and the lows falling to single digits overnight.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>PS<\/strong><strong>A #3- You only have a few days left to take our annual reader poll \u2014 and join us for <\/strong><strong>breakfast<\/strong><strong>. <\/strong>Every year, we ask our readers to weigh in on what you expect for the year ahead in our <a href=\"https:\/\/www.surveymonkey.co.uk\/r\/22JGWRP\">Enterprise Reader Poll<\/a>. Take a few minutes to give us your take on the outlook for your business and industry, whether you\u2019re planning fresh investments and new hires, and how your business fared in the year past. We\u2019ll share the results with the entire community next week to help shape your view of the year \u2014 and will invite eight of you to break bread with us. Another dozen of you who complete the poll will also get special Enterprise mugs to enjoy your morning beverage of choice.<\/p>\n<p><strong>PSA #4- Did you get jabbed with Sinopharm or Sinovac? Mabrouk \u2014<\/strong><strong><a href=\"https:\/\/travel.gc.ca\/travel-covid\/travel-restrictions\/covid-vaccinated-travellers-entering-canada\">Canada now recognizes you as fully vaccinated<\/a><\/strong> if you have had two jabs at least 14 days before travel. The Great White North joins the UK and US in recognizing the vaccines.<\/p>\n<p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Employees at private sector companies will now be paid a minimum wage of EGP 2.4k a <\/strong><strong>month<\/strong> after a new rule came into effect on 1 January.<\/p>\n<p><strong>Well, some of them will:<\/strong> Thousands of companies <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/305cb528-260b-4ce8-9b62-16b7235fb92e\">have been given a six-week grace period<\/a> from paying the minimum wage after requesting exemption on the basis that they cannot afford to up salary expenditure. Firms that have applied for exemption will not have to comply with the new wage requirements until at least mid-February, while the government takes a decision on whether to exempt them.<\/p>\n<p><strong>SMART POLICY- No company is getting a permanent exemption from paying the new <\/strong><strong>minimum wage<\/strong>, Magdi El Badawy, member of the National Council for Wages (NCW), said yesterday (<a href=\"https:\/\/www.youtube.com\/watch?v=u8nynRo-VzI\">watch, runtime: 8:00<\/a>). Temporary exemptions lasting three months will be given to firms that cannot afford to meet the requirements, which will be reviewed by the NCW at the end of the period, he said.<\/p>\n<p><strong>Also now in effect: the EGX capital gains tax.<\/strong> As of today\u2019s trading session, resident investors will face <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc92b9f8-5427-446f-a7dc-2960cc4d17a4\">a 10% capital gains tax<\/a> on EGX transactions. The tax will be imposed on net portfolio earnings at the end of the tax year after deducting brokerage fees. Foreign investors are not subject to the tax.<\/p>\n<p><strong>The EGX30 cl<\/strong><strong>osed up 10.2% YTD as of the final trading day of the year.<\/strong> The EGX lagged our regional competitors in 20201: The Nasdaq Dubai was up 21.4% at the end of the year; the ADX closed up 26.1%; and Saudi\u2019s Tadawul climbed 29.8%.<\/p>\n<p><strong>THE BIG STORY ABROAD (other than the fact that <\/strong><strong><a href=\"https:\/\/www.theguardian.com\/lifeandstyle\/gallery\/2021\/dec\/31\/new-years-eve-2021-around-the-world-in-pictures\">it\u2019s now 2022<\/a><\/strong><strong>)<\/strong> is a tie between two record-breakers: The omicron variant, which led <a href=\"https:\/\/edition.cnn.com\/2022\/01\/01\/australia\/australia-starts-2022-record-covid-cases-intl-hnk\/index.html\">Australia<\/a> and <a href=\"https:\/\/abc7ny.com\/covid-headlines-updates-latest-news-coronavirus\/11413570\/\">New York<\/a> on Saturday to set fresh records for new daily covid cases. The silver lining: Research out of South Africa suggests the variant is <a href=\"https:\/\/www.dw.com\/en\/coronavirus-digest-study-shows-omicron-variant-may-be-milder-than-delta\/a-60088312\">significantly less deadly<\/a> than was the delta version of the virus.<\/p>\n<p><strong>ALSO-<\/strong> Stock markets had a <a href=\"https:\/\/www.ft.com\/content\/e510d763-3864-421c-ba32-8653152c01c6\">bumper year<\/a> in 2021.<\/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>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>It\u2019s the start of a new month.<\/strong><strong> The key news triggers to keep your eye on:<\/strong><\/p>\n<ul>\n<li><strong>PMI:<\/strong> Purchasing managers\u2019 index figures for December for Egypt, Saudi Arabia, and Qatar will be released on Tuesday, 4 January. Figures for the UAE will be released on Wednesday, 5 January.<\/li>\n<li><strong>Foreign reserves:<\/strong> December\u2019s foreign reserves figures will be announced before the week is out.<\/li>\n<li><strong>Inflation:<\/strong> Inflation figures for December will be released on Monday, 10 January.<\/li>\n<li><strong>Interest rates:<\/strong> The Central Bank of Egypt (CBE) will hold its first policy meeting of 2022 later this month. The CBE hasn\u2019t yet published its meeting schedule for the year so we\u2019re still waiting on an exact date.<\/li>\n<\/ul>\n<p><strong>PSA #5- The Taxman would very much like it if you were to soon file you<\/strong><strong>r 2021 tax <\/strong><strong>returns<\/strong><strong>:<\/strong> The deadline for submission for individuals is 31 March, while the deadline for companies with January-December fiscal years is 30 April.<\/p>\n<p><strong>OPEC+ is <\/strong><strong><a href=\"https:\/\/www.opec.org\/opec_web\/en\/311.htm\">meeting<\/a><\/strong><strong> this Tuesday, 4 January.<\/strong> The cartel agreed in December to continue ramping up oil production despite concerns that the spread of the omicron variant could hit energy demand. Pundits see it sticking to its planned monthly production increases at this week\u2019s meeting.<\/p>\n<p><strong>Expect progress in El Nasr Auto\u2019s EV talks this month:<\/strong> That was the message delivered to <a href=\"https:\/\/alborsaanews.com\/2022\/01\/01\/1495473\">Al Borsa<\/a> by CEO Hani El Khouly over the weekend. The newspaper quotes him as saying the company will make an announcement at the end of the month on its talks with foreign auto firms to begin assembling electric vehicles in Egypt. El Nasr is now talking to seven international companies, El Khouly said. The talks come after negotiations with Chinese auto firm Dongfeng <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f0f9e19-5e30-400f-8dba-6213afd8fb58\">collapsed in November<\/a>.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<hr class=\"grey-line\">\n<p><strong>IN CASE YOU MISSED IT-<\/strong> <strong>Check out our look back at 2021. <\/strong>We published last week our annual roundups of the top business, finance and policy stories of the year. Finance nerds, VC types and folks building businesses and Planet Startup will want to pay close attention. <strong>Also- This morning\u2019s What\u2019s Next vertical covers fundraising by startups in 2021. <\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/db1dc8a7-f010-4c1e-a656-a4b11bb806fa\">A solid year for M&A<\/a><\/li>\n<li><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c354628e-b43b-4996-a0ec-a7f8eb79b5fe\">Investments are picking up, albeit gingerly<\/a><\/li>\n<li><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/80afa0e7-4979-4b92-b94d-54ed3e60f9ea\">IPOs in 2021: Four is more than zero<\/a><\/li>\n<li><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0fcbee26-6e79-473b-acfe-a8c7c7de76c1\">Covid-era debt trends didn\u2019t quite keep up in 2021<\/a><\/li>\n<li><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b1e20ef8-8a23-4d3e-a0cd-04b513c44b62\">The vaccine rollout<\/a><\/li>\n<li><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/db3e7873-e17d-4691-b57e-b53c6a4734e7\">The macro picture of our 2021 recovery<\/a><\/li>\n<li><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f6b025d-8ac4-419e-862c-870ce406ae4b\">A rebound in Egypt\u2019s tourism sector<\/a><\/li>\n<li><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb46348d-7550-4cb5-983d-2b40da01a909\">The year of patching up friendships<\/a><\/li>\n<\/ul>\n<p class='web-image-inner'><img decoding=\"async\" data-recalc-dims=\"1\" style='display: block' src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/Whats-Next-Vertical-Banner-En-1600-1.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>*** It\u2019s What\u2019s Next day:<\/strong> We have our weekly deep-dive into what makes and shapes pre-listed companies and startups in Egypt, the UAE and KSA, touching on investment trends, future sector insights and growth journeys.<\/p>\n<p><strong>In today\u2019s issue:<\/strong> We take a look at what our internal trackers tell us about Egypt\u2019s 2021 startup investment rounds in terms of size, types of investors, and sectors. What we can say up front is that fintech and e-commerce are tying for the top position in terms of number of transactions, and international investors are more interested in Egypt than ever before.<\/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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/minimum-wage\/\">minimum wage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/schools\/\">Schools<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/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=\"542514\" 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                            \"\r\n            id=\"542514\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/542514\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542514\" class=\"content-area-description single-story post-542514 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='http:\/\/www.somabay.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/SOMA-ENTERPRISE-AUG2-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/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<section id=\"542515\" 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=\"542515\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/4-5-companies-could-sell-shares-on-the-egx-this-year-farid\/\">\r\n                            4-5 companies could sell shares on the EGX this year -Farid                        <\/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\/2022\/01\/02\/4-5-companies-could-sell-shares-on-the-egx-this-year-farid\/\" 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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Ten companies have contacted the bourse regarding listing shares on the exchange, he said, without providing further details.<\/p>\n<p><strong>In the running to become the first of 2022: <\/strong><a href=\"http:\/\/nahrelkhair.com\/about.php?p=about\">Nahr Elkhair Development and Investment<\/a>, which last week received the greenlight to IPO from the EGX listing committee, according to <a href=\"https:\/\/ent.news\/2021\/12\/Nahr-elkhair-AR.jpg\">a bourse statement<\/a>. The agricultural company\u2019s 2 bn shares will today be admitted to trading on the exchange at a par value of EGP 0.10 apiece ahead of the sale, which could see as much as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d209b00e-3051-472d-89d7-1bdc2b7588df\">61% of the company<\/a> offered to investors.<\/p>\n<p><strong>Look for the IPO to be worth up to EGP 500 mn<\/strong>, the FRA statement implies. The company, which operates in land reclamation and livestock, among other sectors, will see its shares trade under the ticker KRDI.CA. Nahr Elkhair was originally looking to <a href=\"https:\/\/www.mubasher.info\/news\/3769540\/-%D9%86%D9%87%D8%B1-%D8%A7%D9%84%D8%AE%D9%8A%D8%B1-%D9%84%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D8%AA%D8%AA%D8%B7%D9%84%D8%B9-%D9%84%D8%B7%D8%B1%D8%AD-25-40-%D9%85%D9%86-%D8%A3%D8%B3%D9%87%D9%85%D9%87%D8%A7-%D9%81%D9%8A-%D8%A8%D9%88%D8%B1%D8%B5%D8%A9-%D9%85%D8%B5%D8%B1\/\">offer a 25-40% stake<\/a> to investors.<\/p>\n<p><strong>ADVISORS-<\/strong> Baker McKenzie is providing legal advice to Nahr Elkhair. We\u2019re not clear on which investment bank(s) are leading the transaction.<\/p>\n<p><strong>Also lined up for EGX debuts this year: <\/strong>Cosmeceuticals giant <strong>Macro Group <\/strong>is set to offer up to 45.8% of its shares in a transaction that could value the company at around EGP 3.5 bn <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48d0dc09-939b-4b95-8dbb-a96e8e4b2f29\">before its FRA approval expires on 23 January<\/a>, though an official timeline has not yet been set. Healthy food brand <strong>Abu Auf<\/strong> also <a href=\"https:\/\/bit.ly\/3eJswmu\">has its eye on a 2Q2022 listing<\/a>, having recently tapped EFG Hermes to quarterback the transaction, while non-bank financial services player <strong>Ebtikar<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/64b9e6d1-bc05-4043-be42-1ff957f42c98\">could go to market in early 2022<\/a>. <strong>Ghazl El Mahalla Football Club <\/strong>is also offering shares in a micro-IPO (see story below).<\/p>\n<p><em>EDITOR'S NOTE: This story was corrected on 12 January, 2021 to reflect that the EGP 3.5 bn figure refers to the potential value of 100% of Macro Group's shares, not the 45.8% of shares set to be offered in the transaction.\u00a0<\/em><\/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\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/macro-group\/\">Macro Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nahr-elkhair-development-and-investment\/\">Nahr Elkhair Development and Investment<\/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=\"542517\" 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=\"542517\">\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\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/ghazl-el-mahalla-fc-hits-the-egx-next-month-sfe-makes-progress-on-stake-sale-plans\/\">\r\n                            Ghazl El Mahalla FC hits the EGX next month + SFE makes progress on stake sale plans                        <\/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\/2022\/01\/02\/ghazl-el-mahalla-fc-hits-the-egx-next-month-sfe-makes-progress-on-stake-sale-plans\/\" 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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The EGP 37 mn institutional component of the football club\u2019s offering wrapped last Tuesday, according to the statement. The EGP 98 mn public offering to individual retail investors is still pending sign-off from the club\u2019s general assembly, which is set to meet \u201csoon,\u201d the statement says.<\/p>\n<p><strong>Refresher:<\/strong> Ghazl El Mahalla is offering a 67.5% stake in its IPO, which is expected to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63b2e2c2-100f-46b8-80b7-d94bb2c71f1c\">raise EGP 135 mn<\/a>. The transaction will mark the first time a football club is publicly traded in the Arab world, and could pave the way for more IPOs of this sort \u2014 football giant Al Ahly has also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e353e401-9cdc-41c4-b421-29d9f5246904\">expressed interest<\/a> in offering as much as 49% of the club.<\/p>\n<p><strong>Advisors:<\/strong> Prime Holding is acting as bookrunner on the offering.<\/p>\n<p><strong>ALSO ON THE PRIVATIZATION FRONT- Could we soon see concrete steps towards the <\/strong><strong>sale of stakes in the <\/strong><strong>Siemens power plants + military companies?<\/strong> High-level talks on the Sovereign Fund of Egypt\u2019s (SFE) plans to sell stakes in the <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/25\/actis-confirms-its-bidding-for-a-stake-in-egypts-combined-cycle-plants-6971\/\">three Siemens-built power plants<\/a> and a handful of military-affiliated companies took place last week. Prime Minister Moustafa Madbouly, Electricity Minister Mohamed Shaker, Planning Minister Hala El Said, SFE CEO Ayman Soliman, National Service Projects Authority (NSPO) Deputy Director Major Gen. Khaled Farouk, and other officials took part in the discussions last week, cabinet said in <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/305489668288127\">a statement<\/a>, without providing further information.<\/p>\n<p><strong>BACKGROUND:<\/strong> The SFE <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/12\/egypts-swf-could-take-a-30-stake-in-siemens-oc-elsewedy-power-plants-soliman-6158\/\">in 2019<\/a> said it could acquire a 30% stake in the three combined-cycle power plants, while the remaining 70% would be sold to one or more private sector investors. The fund could in the future offer a stake in the plants on the EGX or an international bourse, as a way to stimulate FDI inflows, Soliman said at the time.<\/p>\n<p><strong>On the military-owned companies front: The SFE is also <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe83dcb9-73a2-4e07-bf83-368fdb303009\">looking at 10 firms<\/a><\/strong><strong> owned by the NSPO<\/strong> with a view to bringing in strategic investors ahead of potential IPOs at a later date. Bottled water brand <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d5d7a08f-8981-4c32-965f-7ae7fb4c4a23\">Safi<\/a> was gearing up to sell a minority stake to a strategic investor last year, while <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7cd40893-6a1e-4d00-975c-6fa551a0f8f3\">Wataniya Petroleum<\/a> was expected to sell a major stake to an investor in 2H2021. Both companies had earned plenty of investor interest.<\/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\/ghazl-el-mahalla-fc\/\">Ghazl El Mahalla FC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/public-enterprises-ministry\/\">Public Enterprises Ministry<\/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=\"542519\" 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=\"542519\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/the-end-of-year-dash-to-the-securitization-finish-line\/\">\r\n                            The end of year dash to the securitization finish line                        <\/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\/2022\/01\/02\/the-end-of-year-dash-to-the-securitization-finish-line\/\" 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\/2022\/01\/02\/the-end-of-year-dash-to-the-securitization-finish-line\/')\">\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\/2022\/01\/02\/the-end-of-year-dash-to-the-securitization-finish-line\/\">\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=The end of year dash to the securitization finish line&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/the-end-of-year-dash-to-the-securitization-finish-line\/\">\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\/2022\/01\/02\/the-end-of-year-dash-to-the-securitization-finish-line\/&title=The end of year dash to the securitization finish line\">\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=The+end+of+year+dash+to+the+securitization+finish+line+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F02%2Fthe-end-of-year-dash-to-the-securitization-finish-line%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\/2022\/01\/02\/the-end-of-year-dash-to-the-securitization-finish-line\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/5.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"542520\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/the-end-of-year-dash-to-the-securitization-finish-line\/5-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/5.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"5.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/5.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/5.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542519\" class=\"content-area-description single-story post-542519 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-bonds tag-debt-watch tag-efg-hermes tag-enterpriseam tag-misr-capital tag-pioneers-properties tag-real-estate tag-securitization 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>Companies raised a combined total of nearly EGP 1.75 bn in three <\/strong><strong>securitizations last week <\/strong>as the securitized bond market saw a flurry of activity to close out the year.<\/p>\n<p><strong>By our count, this brings the total number of securitized bond issuances that went to <\/strong><strong>market last year to <\/strong><strong>19, with a combined value of EGP 15.8 bn<\/strong><strong>.<\/strong> We expect a few more issuances to close soon, as the Financial Regulatory Authority <a href=\"https:\/\/ent.news\/2021\/12\/FRA-approval-of-new-EGX-listings.pdf\">said late last month (pdf)<\/a> it would approve 11 sales worth a combined EGP 11.5 bn before the end of 2021.<\/p>\n<p><strong>EFG Hermes Corp Solutions closed its first EGP 790 mn securitized bond issuance last <\/strong><strong>week<\/strong>, part of a wider EGP 3 bn program, EFG Hermes said in a <a href=\"https:\/\/ent.news\/2021\/12\/EFG-Hermes-IB-Corp-Solutions-Securitization-PR-English.docx.pdf\">statement (pdf)<\/a> on Thursday. The issuance is backed by a EGP 815.1 mn receivables portfolio covering 47 lease contracts. <strong>EFG Hermes<\/strong> was the sole financial advisor, sole transaction manager and book runner, underwriter, and sole arranger on the issuance.<\/p>\n<p><strong>Pioneers Properties closes EGP 627.5 mn securitized bond issuance:<\/strong> EFG Hermes was also the sole financial advisor, sole transaction manager and book runner, underwriter, and sole arranger on a EGP 627.5 mn securitized bond issuance on behalf of Pioneers Properties for Urban Development on Thursday, according to a <a href=\"https:\/\/ent.news\/2021\/12\/EFG-Hermes-x-Pioneers-Properties-Securitization-English.pdf\">stat<\/a><a href=\"https:\/\/ent.news\/2021\/12\/EFG-Hermes-x-Pioneers-Properties-Securitization-English.pdf\">ement (pdf)<\/a>. The issuance, which was the first tranche of Pioneers\u2019 EGP 3 bn bond program, is backed by a EGP 798.3 mn receivables portfolio, the statement notes.<\/p>\n<p><strong><a href=\"http:\/\/rawaj-finance.com\/\">Rawaj Consumer Finance<\/a><\/strong><strong> also closed a EGP 305.5 mn securitized bond issuance<\/strong>, according to a <a href=\"https:\/\/ent.news\/2021\/12\/Rawaj-Securitized-bond-issuance.pdf\">press release (pdf)<\/a> on Thursday. The issuance is backed by account receivables from Tawriq for Securitization. Misr Capital was sole financial advisor, bookrunner, arranger, and general coordinator for the transaction. Misr Capital, Banque Misr, National Bank of Egypt, and Arab African International Bank acted as underwriters for the issuance. Dreny & Partners acted as legal advisors and Ernst & Young as auditor.<\/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\/bonds\/\">Bonds<\/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\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-capital\/\">Misr Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pioneers-properties\/\">Pioneers Properties<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542521\" 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=\"542521\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/israel-uaes-answer-to-the-suez-canal-just-got-blocked\/\">\r\n                            Israel-UAE\u2019s answer to the Suez Canal just got blocked                        <\/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\/2022\/01\/02\/israel-uaes-answer-to-the-suez-canal-just-got-blocked\/\" 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\/2022\/01\/02\/israel-uaes-answer-to-the-suez-canal-just-got-blocked\/')\">\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\/2022\/01\/02\/israel-uaes-answer-to-the-suez-canal-just-got-blocked\/\">\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=Israel-UAE\u2019s answer to the Suez Canal just got blocked&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/israel-uaes-answer-to-the-suez-canal-just-got-blocked\/\">\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\/2022\/01\/02\/israel-uaes-answer-to-the-suez-canal-just-got-blocked\/&title=Israel-UAE\u2019s answer to the Suez Canal just got blocked\">\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=Israel-UAE%E2%80%99s+answer+to+the+Suez+Canal+just+got+blocked+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F02%2Fisrael-uaes-answer-to-the-suez-canal-just-got-blocked%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\/2022\/01\/02\/israel-uaes-answer-to-the-suez-canal-just-got-blocked\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542521\" class=\"content-area-description single-story post-542521 post type-post status-publish format-standard hentry category-energy tag-eastern-mediterranean tag-energy tag-enterpriseam tag-israel tag-oil-and-gas tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Suez Canal rival nixed by Israeli gov\u2019t:<\/strong> A proposed oil transport corridor between the UAE and Israel that could have undermined the Suez Canal\u2019s role as a major trade artery appears to have been spiked. Israeli environment minister Tamar Zandberg said last week that the agreement to use Israel as a transit country for Emirati oil heading to Europe has been blocked by the justice ministry, according to <a href=\"https:\/\/apnews.com\/article\/business-middle-east-israel-environment-tel-aviv-d53debc79ec9104322802984a2ed86a1\">the Associated Press<\/a>.<\/p>\n<p><strong>The accord could have allowed one of the region\u2019s biggest oil producers to skirt the Suez Canal and dent its revenues: <\/strong>A <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a0c6f0c-5606-4356-bddb-7fd353cac8d2\">secret agreement<\/a> between Israel and the UAE last year would have seen Emirati oil delivered via tankers to Israel\u2019s Red Sea port of Eilat before being sent to the Mediterranean via the existing Eilat-Ashkelon pipeline and onwards to Europe. The plan was positioned by Israel\u2019s state-owned Europe Asia Pipeline Co (EAPC) and its new partner Med-Red \u2014 a consortium of Emirati and Israeli companies \u2014 as offering a quicker, less costly alternative to the Suez Canal.<\/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\/eastern-mediterranean\/\">Eastern Mediterranean<\/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\/israel\/\">Israel<\/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\/uae\/\">UAE<\/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=\"542522\" 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=\"542522\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/three-edtech-startups-close-rounds\/\">\r\n                            Three edtech startups close rounds                        <\/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\/2022\/01\/02\/three-edtech-startups-close-rounds\/\" 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\/2022\/01\/02\/three-edtech-startups-close-rounds\/')\">\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\/2022\/01\/02\/three-edtech-startups-close-rounds\/\">\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=Three edtech startups close rounds&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/three-edtech-startups-close-rounds\/\">\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\/2022\/01\/02\/three-edtech-startups-close-rounds\/&title=Three edtech startups close rounds\">\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=Three+edtech+startups+close+rounds+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F02%2Fthree-edtech-startups-close-rounds%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\/2022\/01\/02\/three-edtech-startups-close-rounds\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/6.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"542523\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/three-edtech-startups-close-rounds\/6-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/6.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"6.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/6.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/6.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542522\" class=\"content-area-description single-story post-542522 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-edventures tag-enterpriseam tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>EdVentures, ASRT go big on edtech:<\/strong> Three edtech startups received unspecified equity investments from education focused VC EdVentures and the Academy of Scientific Research and Technology (ASRT) \u2014 a nonprofit organization affiliated to the Higher Education Ministry, according to a <a href=\"https:\/\/ent.news\/2021\/12\/EdVentures-ASRT-PRL-12-2021-v2.pdf\">press release (pdf)<\/a>. The startups, <a href=\"https:\/\/www.obmeg.com\/\">OBM Education<\/a>, <a href=\"https:\/\/superfny.com\/\">Super Fny<\/a>, and <a href=\"https:\/\/www.facebook.com\/crafty.workshop.arab\/\">Crafty Workshop<\/a>, will also receive in-kind support, including training and mentorship, as part of the transaction.<\/p>\n<p><strong>About the companies:<\/strong> OBM Education offers content to pre-university students through online and in-person training programs and events. Meanwhile, Super Fny provides technical, vocational, safety, soft skills, and entrepreneurship training for professionals, and connects employers with jobseekers. Finally, Crafty Workshop offers business-oriented courses for craftspeople on product development, photography, pricing, marketing, branding, and finance.<\/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\/edventures\/\">EdVentures<\/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=\"542524\" 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=\"542524\">\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\">Policy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/out-with-the-in-kind-in-with-the-banknotes\/\">\r\n                            Out with the in-kind, in with the banknotes                        <\/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\/2022\/01\/02\/out-with-the-in-kind-in-with-the-banknotes\/\" 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\/2022\/01\/02\/out-with-the-in-kind-in-with-the-banknotes\/')\">\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\/2022\/01\/02\/out-with-the-in-kind-in-with-the-banknotes\/\">\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=Out with the in-kind, in with the banknotes&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/out-with-the-in-kind-in-with-the-banknotes\/\">\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\/2022\/01\/02\/out-with-the-in-kind-in-with-the-banknotes\/&title=Out with the in-kind, in with the banknotes\">\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=Out+with+the+in-kind%2C+in+with+the+banknotes+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F02%2Fout-with-the-in-kind-in-with-the-banknotes%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\/2022\/01\/02\/out-with-the-in-kind-in-with-the-banknotes\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/7.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"542525\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/out-with-the-in-kind-in-with-the-banknotes\/7-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/7.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"7.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/7.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/7.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542524\" class=\"content-area-description single-story post-542524 post type-post status-publish format-standard has-post-thumbnail hentry category-policy tag-abdel-fattah-el-sisi tag-agriculture tag-enterpriseam tag-fertilizers tag-policy tag-subsidies 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>Farmers could soon be getting <\/strong><strong>cash <\/strong><strong>subsidies for fertilizers instead of in-kind <\/strong><strong>subsidies<\/strong>, after President Abdel Fattah El Sisi called for the switch last week at the inauguration of expansions to the Kima 2 ammonia and urea industrial complex in Aswan (<a href=\"https:\/\/www.youtube.com\/watch?v=RUCWquEHx_g\">watch, runtime: 21:20<\/a>). The move away from in-kind subsidies could end the parallel market trade in fertilizers, while providing farmers with the direct liquidity to buy their fertilizers would help factories better assess local market needs before earmarking for exports, El Sisi said. The president also urged farmers to adopt modern irrigation systems, which slash fertilizer consumption needs by 40-50%.<\/p>\n<p><strong>This comes as fertilizer prices surge on the back of global commodity costs. <\/strong>The government gave <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9dc7bcd9-bdf0-4f63-9d57-ea812e67dd90\">producers the green light<\/a> in December to hike prices at which they sell subsidized urea fertilizers to farmers by 50% to EGP 4.5k per ton. The increase comes shortly after the government raised natural gas prices for industry, hiking rates by up to 28% for businesses including fertilizers, iron and steel, petrochemical, and cement makers.<\/p>\n<p><strong>Analysts give the move a thumbs up:<\/strong> The president\u2019s directives will \u201cput an end to the black market and ensure that the subsidy reaches those in need,\u201d CI Capital said in a report on 29 December. The move could also cut down on the overuse of nitrogen fertilizer, \u201cwhich in Egypt is &gt;4x the global average,\u201d the investment bank said.<\/p>\n<p><strong>The move is consistent with the Sisi administration\u2019s general policy direction for subsidies:<\/strong> Back in 2017, the Supply Ministry <a href=\"https:\/\/enterprise.press\/stories\/2017\/07\/13\/supply-ministry-to-halt-subsidizing-flour-for-subsidized-bread\/\">ended subsidies on flour<\/a> used to produce subsidized bread to put an end to fraud that saw the flour traded on the black market. The ministry instead subsidizes only the price of the final loaves. The government also drafted a new Cash Subsidies Act <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/07\/government-to-send-cash-subsidies-act-to-parliament-next-week-4\/\">in mid-2019<\/a> to govern a new system of direct money transfers instead of the current setup of in-kind subsidies using ration cards. The new system is designed to be more efficient and streamlined, while cutting down on subsidy fraud. The Takafol and Karam social welfare programs, launched in 2015, <a href=\"https:\/\/www.worldbank.org\/en\/news\/feature\/2018\/11\/15\/the-story-of-takaful-and-karama-cash-transfer-program\">pioneered the idea in Egypt<\/a> by providing cash subsidies directly to qualified beneficiaries.<\/p>\n<p><strong>El Sisi ordered a rework of the subsidy system several times last year<\/strong>, including calling for <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/05c9f0e9-8d6d-49b5-b9c7-35143427e1a8\">the introduction of a modernized, digitized<\/a> ration card program, which he said would help end the large-scale misallocation of welfare subsidies.<\/p>\n<p><strong>Also rising: Sugar prices. The government has hiked prices at which it sells sugar by <\/strong><strong>almost 25%<\/strong> in response to rising international prices. A kilo of sugar will now be sold at EGP 10.50, up from EGP 8.50, <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2493386\">Al Masry Al Youm<\/a> quoted Supply Minister Ali El Moselhy as telling reporters last week. International prices of raw sugar have surged some 57% since 1H2020, Prime Research wrote in a note last week.<\/p>\n<p><strong>The move will have a noticeable impact on inflation<\/strong>, according to analysts at CI Capital in a note last week. They expect the rising prices of sugar to add another 0.15 percentage points onto the headline rate.<\/p>\n<p><strong>SMART POLICY- Could we see higher piped water prices soon?<\/strong> The government has wrapped a feasibility study on reworking piped water consumption tiers for both residential and non-residential use, which Prime Minister Moustafa Madbouly reviewed last week, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/305917054912055\">cabinet statement<\/a>. The statement doesn\u2019t provide further details on what the restructuring would look like, or how much we can expect prices to increase. Piped water prices were last <a href=\"https:\/\/enterprise.press\/stories\/2018\/06\/03\/govt-raises-piped-water-prices-by-up-to-46-5\/\">raised in 2018<\/a>, when the government hiked prices across all consumption tiers by up to 46.5%.<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fertilizers\/\">fertilizers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/policy\/\">policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsidies\/\">subsidies<\/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=\"542526\" 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=\"542526\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Development finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/egypt-admitted-as-new-member-of-ndb\/\">\r\n                            Egypt admitted as new member of NDB                        <\/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\/2022\/01\/02\/egypt-admitted-as-new-member-of-ndb\/\" 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\/2022\/01\/02\/egypt-admitted-as-new-member-of-ndb\/')\">\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\/2022\/01\/02\/egypt-admitted-as-new-member-of-ndb\/\">\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 admitted as new member of NDB&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/egypt-admitted-as-new-member-of-ndb\/\">\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\/2022\/01\/02\/egypt-admitted-as-new-member-of-ndb\/&title=Egypt admitted as new member of NDB\">\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+admitted+as+new+member+of+NDB+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F02%2Fegypt-admitted-as-new-member-of-ndb%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\/2022\/01\/02\/egypt-admitted-as-new-member-of-ndb\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542526\" class=\"content-area-description single-story post-542526 post type-post status-publish format-standard hentry category-development-finance tag-development-finance tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt is now part of the <\/strong><strong>BRICS<\/strong><strong>-led New Development Bank (NDB)<\/strong> after the bank admitted us as a member thanks to our position as \u201cone of the world\u2019s fastest growing countries,\u201d according to a <a href=\"https:\/\/www.ndb.int\/press_release\/ndb-admits-egypt-as-new-member\/\">statement.<\/a> Egypt is the fourth new member admitted into NDB, after Bangladesh, the UAE, and Uruguay joined in September. Our membership in the bank will give us access to support for infrastructure and sustainable development investment through public or private projects.<\/p>\n<p><strong>What is the NDB?<\/strong> The USD 100 bn Shanghai-headquartered bank was launched in 2015 by the BRICS group of major emerging economies: Brazil, Russia, India, China and South Africa. The international organization mobilizes resources for infrastructure and sustainable development projects in BRICS and other developing nations.<\/p>\n<p><strong>MEANWHILE- <\/strong><strong>Egyptian SMEs to receive EGP 300 mn in Saudi finance: <\/strong>The Saudi Arabia Grant Management Committee will provide EGP 300 mn in grants to Egyptian SMEs after inking agreements with the Industrial Development Bank, Banque du Caire and Enmaa Finance, the International Cooperation Ministry <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/306645594839201\">said<\/a> Friday. The committee has provided some EGP 1.5 bn to around 2.6k Egyptian SMEs to date, according to the statement.<\/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\/development-finance\/\">development finance<\/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=\"542527\" 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=\"542527\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/efg-hermes-tops-egx-brokerage-league-table-for-2021\/\">\r\n                            EFG Hermes tops EGX brokerage league table for 2021                        <\/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\/2022\/01\/02\/efg-hermes-tops-egx-brokerage-league-table-for-2021\/\" 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\/2022\/01\/02\/efg-hermes-tops-egx-brokerage-league-table-for-2021\/')\">\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\/2022\/01\/02\/efg-hermes-tops-egx-brokerage-league-table-for-2021\/\">\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 Hermes tops EGX brokerage league table for 2021&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/efg-hermes-tops-egx-brokerage-league-table-for-2021\/\">\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\/2022\/01\/02\/efg-hermes-tops-egx-brokerage-league-table-for-2021\/&title=EFG Hermes tops EGX brokerage league table for 2021\">\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+Hermes+tops+EGX+brokerage+league+table+for+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F02%2Fefg-hermes-tops-egx-brokerage-league-table-for-2021%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\/2022\/01\/02\/efg-hermes-tops-egx-brokerage-league-table-for-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/9.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"542528\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/efg-hermes-tops-egx-brokerage-league-table-for-2021\/9-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/9.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"9.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/9.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/9.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542527\" class=\"content-area-description single-story post-542527 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-capital-markets tag-efg-hermes tag-egx tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>EFG<\/strong><strong> Hermes topped the EGX\u2019s brokerage league table for the year<\/strong> with a market share of 18.9%, according to <a href=\"https:\/\/ent.news\/2022\/1\/Periodicals-Annual-Ranking-of-Brokerage-Firms-Ar-3.pdf\">figures from the EGX (pdf)<\/a>. Rounding out the top five were CI Capital with 10.1%, followed by Al Ahly Pharos with 6%, Beltone with 5.9% and Pioneers Securities with 5.4%.<\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542529\" 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                            \"\r\n            id=\"542529\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/542529\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542529\" class=\"content-area-description single-story post-542529 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.sodic.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/Tactical-Male-1600WX800H-for-web.jpg?ssl=1\" alt='enterprise'><\/a><\/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<section id=\"542530\" 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=\"542530\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/expect-a-decision-by-march-on-how-bread-subsidies-will-be-reworked-moselhy\/\">\r\n                            Expect a decision by March on how bread subsidies will be reworked -Moselhy                        <\/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\/2022\/01\/02\/expect-a-decision-by-march-on-how-bread-subsidies-will-be-reworked-moselhy\/\" 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\/2022\/01\/02\/expect-a-decision-by-march-on-how-bread-subsidies-will-be-reworked-moselhy\/')\">\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\/2022\/01\/02\/expect-a-decision-by-march-on-how-bread-subsidies-will-be-reworked-moselhy\/\">\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=Expect a decision by March on how bread subsidies will be reworked -Moselhy&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/expect-a-decision-by-march-on-how-bread-subsidies-will-be-reworked-moselhy\/\">\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\/2022\/01\/02\/expect-a-decision-by-march-on-how-bread-subsidies-will-be-reworked-moselhy\/&title=Expect a decision by March on how bread subsidies will be reworked -Moselhy\">\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=Expect+a+decision+by+March+on+how+bread+subsidies+will+be+reworked+-Moselhy+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F02%2Fexpect-a-decision-by-march-on-how-bread-subsidies-will-be-reworked-moselhy%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\/2022\/01\/02\/expect-a-decision-by-march-on-how-bread-subsidies-will-be-reworked-moselhy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542530\" class=\"content-area-description single-story post-542530 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-economy tag-enterpriseam tag-fdi tag-last-nights-talk-shows tag-mahmoud-mohieldin tag-subsidies 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>Subsidies were the topic of the night on the talkshows<\/strong> as Supply Minister Ali El Moselhy phoned into Ala Mas\u2019ouleety to discuss the government\u2019s plans to increase the price of subsidized bread (watch, runtime: <a href=\"https:\/\/www.facebook.com\/watch\/?v=923104185242208\">8:14<\/a> | <a href=\"https:\/\/www.youtube.com\/watch?v=q7J7TFheaDE\">7:39<\/a> | <a href=\"https:\/\/www.facebook.com\/watch\/?v=2016281465198419\">3:52<\/a>). The ministry is considering several scenarios \u2014 which include targeted subsidy cuts that ringfence the most vulnerable people and replacing bread subsidies with cash payments \u2014 and will take a final decision by the end of March, he said.<\/p>\n<p><strong>Price rises were <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cff5080b-b5e6-4d57-8920-c15466348892\">signposted last summer<\/a><\/strong><strong> by President Abdel Fattah El Sisi<\/strong>, who suggested that the government would make a \u201cmodest\u201d reduction to bread subsidies for the first time in a generation. Bread is currently sold for EGP 0.05 per loaf but costs EGP 0.6-0.65 to produce.<\/p>\n<p><strong>Mahmoud Mohieldin on Min Masr:<\/strong> To secure a high economic growth rate, Egypt needs to secure public, private, and foreign direct investment equivalent to 25% of its GDP, IMF Executive Director Mahmoud Mohieldin told Min Masr\u2019s Amr Khalil. Over the past decade, that figure has averaged 15-18%, meaning we need to work to attract more investments. The government\u2019s megaprojects are a key contributor to the country\u2019s overall investment levels, Mohieldin said, but private sector investments and FDI need to be tripled from their current figures to spur job creation and sustainable growth. This growth, especially when it is underpinned by a strong base of local industry and exports, will help keep inflation from biting citizens\u2019 pockets too hard, Mohieldin said, noting that the current national inflation rate is \u201creasonable\u201d (<a href=\"https:\/\/youtu.be\/fW0wWNtWVOY\">watch, runtime: 26:24<\/a>).<\/p>\n<p><strong>You can read more on the proposed changes to the subsidy system<\/strong> in today\u2019s newswell, above.<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mahmoud-mohieldin\/\">Mahmoud Mohieldin<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsidies\/\">subsidies<\/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=\"542531\" 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\" 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stk-nlsgy1o-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-nlsgy1o-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\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/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 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0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542532\" 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=\"542532\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/egypt-in-the-news-citroen-ad-sparks-uproar-over-normalizing-redacted-harassment\/\">\r\n                            Egypt in the News: Citro\u00ebn ad sparks uproar over normalizing [redacted] harassment                        <\/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\/2022\/01\/02\/egypt-in-the-news-citroen-ad-sparks-uproar-over-normalizing-redacted-harassment\/\" target=\"_blank\">\n                    Open in new tab                    <!-- 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       <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542532\" class=\"content-area-description single-story post-542532 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-covid-19 tag-enterpriseam 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-08\"><\/a> <strong>Citro\u00ebn Egypt has pulled an advertisement that triggered an uproar on <\/strong><strong><a href=\"https:\/\/www.instagram.com\/p\/CYErIzurI3_\/?utm_medium=copy_link\">social media<\/a><\/strong> <strong>over <\/strong><strong>[redacted] harassment<\/strong>, writes <a href=\"https:\/\/www.bbc.com\/news\/world-middle-east-59818881\">BBC<\/a>. The ad had featured singer Amr Diab riding a Citro\u00ebn vehicle and taking a photo of a woman crossing the street without her consent using a built-in camera feature in the car. The story is getting ink everywhere, including: <a href=\"https:\/\/www.bbc.com\/news\/world-middle-east-59818881\">BBC<\/a> | <a href=\"https:\/\/www.theguardian.com\/world\/2021\/dec\/30\/citroen-pulls-egypt-ad-accused-of-promoting-harassment-of-women\">AFP<\/a> | <a href=\"https:\/\/apnews.com\/article\/business-middle-east-africa-egypt-9a8bbba267c0ae97b405c82e18f27e42\">Associated Press<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/world\/2021\/12\/30\/citroen-egypt-sexual-harassment-amr-diab\/\">Washington Post<\/a>| <a href=\"https:\/\/www.independent.co.uk\/news\/world\/middle-east\/citroen-egypt-car-advert-sexual-harrasment-b1984017.html\">Independent<\/a> | <a href=\"https:\/\/www.thenationalnews.com\/arts-culture\/television\/2021\/12\/30\/citroen-withdraws-egypt-ad-starring-amr-diab-amid-harassment-criticism\/\">National<\/a> | <a href=\"https:\/\/www.al-monitor.com\/originals\/2021\/12\/citroen-accused-promoting-sexual-harassment-amr-diab-ad-suv\">Al Monitor<\/a>.<\/p>\n<p><strong>Also making headlines: <\/strong><\/p>\n<ul>\n<li><strong>Our smoking habits make it to the foreign press: <\/strong>The government\u2019s decision to ban shisha to contain the spread of the coronavirus has stripped away one of the nation\u2019s most beloved pastimes. (<a href=\"https:\/\/www.washingtonpost.com\/world\/2021\/12\/31\/egypt-coronavirus-covid-public-health\/\">Washington Post<\/a>)<\/li>\n<li><strong>Mo Salah has been voted Premier League player of the year <\/strong>in a BBC poll, claiming 60% of the votes ahead of West Ham midfielder Declan Rice, who came second with 7%. (<a href=\"https:\/\/www.bbc.com\/sport\/articles\/cer7770xznzo\">BBC<\/a>)<\/li>\n<\/ul>\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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542533\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542534\" 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=\"542534\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/egyptian-gas-could-reach-lebanon-next-month\/\">\r\n                            Egyptian gas could reach Lebanon next month                        <\/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                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<\/a>\r\n\r\n                \n<article id=\"post-542534\" class=\"content-area-description single-story post-542534 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-corruption tag-dana-gas tag-energy tag-enterpriseam tag-lebanon tag-oil-and-gas wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>The Prosecutor General referred to trial four individuals on charges of graft and <\/strong><strong>abuse of power <\/strong>relating to an alleged EGP 5 mn bribe to reverse a Health Ministry decision to shut down an unlicensed private hospital, according to <a href=\"https:\/\/www.facebook.com\/photo?fbid=453322049489990&set=pcb.453322106156651\">a statement<\/a>.<\/li>\n<li><strong>Dana Gas collections from Egypt shot up 130% y-o-y to <\/strong><strong><a href=\"https:\/\/www.danagas.com\/wp-content\/uploads\/2021\/12\/20211229-Press-Release-Egypt-Payment-EN.pdf\">USD 184 mn in<\/a><\/strong><strong><a href=\"https:\/\/www.danagas.com\/wp-content\/uploads\/2021\/12\/20211229-Press-Release-Egypt-Payment-EN.pdf\">2021<\/a><\/strong><a href=\"https:\/\/www.danagas.com\/wp-content\/uploads\/2021\/12\/20211229-Press-Release-Egypt-Payment-EN.pdf\">(pdf)<\/a>, reducing our arrears to their lowest level since the company started operating here in 2007.<\/li>\n<li><strong>Lebanon could begin receiving gas from Egypt by the end of February<\/strong> via a repaired pipeline crossing Jordan and Syria, according to a <a href=\"https:\/\/www.facebook.com\/LBpresidency\/posts\/1335661903569316\">Lebanese presidency statement<\/a>.<\/li>\n<\/ul>\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\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/corruption\/\">Corruption<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dana-gas\/\">Dana Gas<\/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\/lebanon\/\">Lebanon<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542535\" 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=\"542535\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/restrictions-tighten-in-the-gulf-as-omicron-spreads\/\">\r\n                            Restrictions tighten in the Gulf as omicron spreads                        <\/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\/2022\/01\/02\/restrictions-tighten-in-the-gulf-as-omicron-spreads\/\" 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\/2022\/01\/02\/restrictions-tighten-in-the-gulf-as-omicron-spreads\/')\">\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\/2022\/01\/02\/restrictions-tighten-in-the-gulf-as-omicron-spreads\/\">\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=Restrictions tighten in the Gulf as omicron spreads&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/restrictions-tighten-in-the-gulf-as-omicron-spreads\/\">\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\/2022\/01\/02\/restrictions-tighten-in-the-gulf-as-omicron-spreads\/&title=Restrictions tighten in the Gulf as omicron spreads\">\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=Restrictions+tighten+in+the+Gulf+as+omicron+spreads+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F02%2Frestrictions-tighten-in-the-gulf-as-omicron-spreads%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\/2022\/01\/02\/restrictions-tighten-in-the-gulf-as-omicron-spreads\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542535\" class=\"content-area-description single-story post-542535 post type-post status-publish format-standard hentry category-covid-watch tag-astrazeneca tag-covid-19 tag-enterpriseam tag-uae tag-uk tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Tightening restrictions in the Gulf as omicron spreads:<\/strong> Masking and social distancing mandates came into effect again in Saudi Arabia last week, according to the <a href=\"https:\/\/www.spa.gov.sa\/viewfullstory.php?lang=ar&newsid=2316645#2316645\">Saudi Press<\/a><a href=\"https:\/\/www.spa.gov.sa\/viewfullstory.php?lang=ar&newsid=2316645#2316645\">Agency<\/a>, while the <strong>UAE will introduce a travel ban for all unvaccinated citizens<\/strong> starting 10 January, according to Emirati state-run <a href=\"http:\/\/wam.ae\/ar\/details\/1395303007725\">news agency WAM<\/a>.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/240201914957697\">reported<\/a><\/strong><strong> 783 new covid-19 infections yesterday<\/strong>, down from <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/239489831695572\">847<\/a> the day before. Egypt has now disclosed a total of 386,358 confirmed cases of covid-19. The ministry also reported 16 new deaths, bringing the country\u2019s total death toll to 21,768.<\/p>\n<p><strong>We received 347k AstraZeneca jabs last week<\/strong>, the Health Ministry <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/videos\/655261259226286\/\">announced<\/a>. The ministry did not disclose where we received the jabs from.<\/p>\n<p><strong>Sinovac shot + Pfizer booster less effective against omicron:<\/strong> The two-dose Sinovac shot followed by a single Pfizer booster produces a lower immune response against the omicron variant than previous forms of the virus, according to <a href=\"https:\/\/www.medrxiv.org\/content\/10.1101\/2021.12.27.21268459v1\">a new study<\/a>. The combination of vaccines produced 6.3x less antibodies against omicron compared to the original strain of the virus, researchers from Yale University and the Dominican Republic Health Ministry found.<\/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\/astrazeneca\/\">AstraZeneca<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uk\/\">UK<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/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=\"542536\" 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=\"542536\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/2021-was-the-year-of-the-everything-rally\/\">\r\n                            2021 was the year of the \u201ceverything rally\u201d                        <\/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\/2022\/01\/02\/2021-was-the-year-of-the-everything-rally\/\" 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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The <a href=\"https:\/\/www.msci.com\/our-solutions\/indexes\/acwi\">MSCI All-Country World index<\/a> of global stock markets rose to USD 756.40 on Wednesday, compared to USD 645.29 on 30 December 2020 \u2014 the third consecutive year of double-digit returns.<\/p><p><strong>US stocks had a pretty spectacular 2021:<\/strong> Both S&amp;P 500 and Nasdaq gained about 27% during the year, beating out even the most bullish of outlooks.The S&amp;P 500 ended the year at 4,766, a significant increase from analyst expectations, whose average forecasts sat at 4,074 at the start of the year, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-12-30\/asia-may-get-lift-from-china-stocks-rally-in-u-s-markets-wrap?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloombe<\/a><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-12-30\/asia-may-get-lift-from-china-stocks-rally-in-u-s-markets-wrap?srnd=premium-middle-east&amp;sref=mmeFTDW1\">rg wrote<\/a>.<\/p><p><strong>But the UK and EMs have been largely been left on the sidelines: <\/strong>The MSCI UK kept up a decade long-trend of falling behind global peers, gaining only 11% in 2021, compared to 69% increase in Europe\u2019s and 287% in the US. Analysts attributed the lag to Brexit and the lack of fast-growing tech stocks in the market. Meanwhile, the MSCI Emerging Markets index was down 5% in late December, dragged down by crackdowns in China on major sectors and stocks.<\/p><p><strong>There is, however, optimism from some quarters on EMs: <\/strong>Emerging markets\u2019 equities could return 18% in 2022 as corporate earnings grow and China\u2019s clampdown subsides, JPMorgan strategists have predicted in the investment bank\u2019s <a href=\"https:\/\/www.jpmorgan.com\/insights\/research\/market-outlook-2022\">2022 outlook<\/a>. Meanwhile, a Bank of America fund managers survey cited by the FT suggests that EM stocks could provide some of the best returns over the year.<\/p><p><strong>ALSO-<\/strong> <strong>The super-rich got super-richer: <\/strong>The collective fortune of the world\u2019s 500 richest people jumped by more than USD 1 tn during 2021 on the back of soaring equity markets and rising valuations. The combined net worth of people featured on the <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-12-31\/the-year-of-the-super-billionaire-marked-by-1-trillion-in-gains?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg Bn\u2019aires Index<\/a> is now more than USD 8.4 tn, with a record 10 people with fortunes exceeding USD 100 bn and more than 200 people being worth over USD 10 bn.<\/p><p><strong>\u2026unless they happened to head a Chinese tech company:<\/strong> China\u2019s 10 richest tech tycoons lost almost a quarter of their wealth (i.e. USD 80 bn in net worth) in 2021, due to crackdowns by regulators, <a href=\"http:\/\/bloomberg.com\/news\/articles\/2021-12-29\/china-s-tech-moguls-see-80-billion-of-wealth-evaporate-in-2021?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> adds.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,949<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: +10.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>11,282<\/p>\n<\/td>\n<td>\n<p>+0.7% (YTD: 0.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>8,488<\/p>\n<\/td>\n<td>\n<p>+0.5% (YTD: 0.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,196<\/p>\n<\/td>\n<td>\n<p>+0.7% (YTD: 0.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,766<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: 0.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,384<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: 0.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 77.78<\/p>\n<\/td>\n<td>\n<p>-2.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 3.73<\/p>\n<\/td>\n<td>\n<p>+4.75%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,829<\/p>\n<\/td>\n<td>\n<p>+0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 47,301<\/p>\n<\/td>\n<td>\n<p>+1.9% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 0.4% <\/strong><strong>on Thursday <\/strong>on turnover of EGP 1.1 bn (16.1% below the 90-day average). Local investors were net buyers. The index is up 10.2% YTD.<\/p><p><strong>In the green: <\/strong>Gadwa Industrial Development (+6.4%), Aspire Capital (+4.3%) and Pioneers Properties (+3.1%).<\/p><p><strong>In the red: <\/strong>Fawry (-1.8%), Egypt Kuwait Holding (-1.2%) and CIRA (-1.0%).<\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span 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class=\"content-anchor\"><\/a><strong> Egypt\u2019s startup scene in 2021 (Part I): Startups just keep breaking those investment records. <\/strong>Egypt has heard of some big funding rounds this year, as ticket sizes are growing and the total number of fundraising rounds across the startup scene is increasing. Acquisitions have also been more frequently mentioned in 2021 than any year before.<\/p>\n<p><strong>We take a look at what our internal trackers tell us about those investment rounds in terms of size, types of investors, and sectors. <\/strong>What we can say up front is that fintech and e-commerce are tying for the top position in terms of number of transactions, and international investors are more interested in Egypt than ever before.<\/p>\n<p><strong>DISCLAIMER- <\/strong>These numbers are \u2014 at best \u2014 approximations, with 17 startups only disclosing that they had raised a \u201c6- or 7-figure round\u201d and 19 others preferring to not name an exact amount.<\/p>\n<p><strong>Our internal trackers count 76 investments in Egyptian startups in 2021, a 55% increase from 49 in 2020.<\/strong> September, November and December clearly were prime time for startup investments. Eleven closed investment rounds were announced in the last month of 3Q2021 and 4Q2021 each, and 12 in November. The most discreet months of the year were April and August, with only three investments each \u2014 but there wasn\u2019t a single month all year devoid of investment announcements.<\/p>\n<p><strong>Egypt\u2019s startups raised well over USD 373 mn this year compared to over USD 100 mn last year, according to our data.<\/strong> One of them said it had raised more than USD 1 mn, which is also not precise, as well as another that announced a \u201cmulti-mn USD investment.\u201d<\/p>\n<p><strong>Government-backed VC Egypt Ventures invested some EGP 92 mn in startups and accelerator programs<\/strong> in 2021, the International Cooperation Ministry said in <a style=\"color: #fc7601;\" href=\"https:\/\/www.facebook.com\/MOICEgypt\/posts\/282696580558914\">a statement<\/a>. The investments include EGP 75 invested directly in businesses, and another EGP 17 mn that were earmarked for accelerator programs by Falak Startups and EFG-EV Fintech.<\/p>\n<p><strong>And accelerators have been quite active, too. <\/strong>Besides the above-mentioned investment rounds, EFG-EV made two unannounced investments, with the outfit investing a total of USD 1 mn in five transactions in 2021, CEO of EFG-EV Mahmoud El-Zohairy told us. Flat6Labs poured USD 3.14 mn into 29 local transactions through its accelerator program and other rounds, according to regional investment associate at Flat6Labs Cherif Hamdi, of which four were announced and included in our tracker. Falak Startups joined six more investment rounds worth over USD 413k in 2021, besides the two included in our tracker, CEO of Falak Startups Ahmed Hazem told us.<\/p>\n<p><strong>There are other indicators that set the bar for that number a notch higher. <\/strong>ITIDA CEO Amr Mahfouz <a style=\"color: #fc7601;\" href=\"https:\/\/english.ahram.org.eg\/NewsContent\/3\/1239\/426222\/Business\/Tech\/Egyptian-startups-attract--mln-in-investments-duri.aspx\">estimated the number to be USD 400 mn in October<\/a>, while database <a style=\"color: #fc7601;\" href=\"https:\/\/thebigdeal.substack.com\/\">Africa: The Big Deal puts a USD 588 mn label on Egypt<\/a>, as of 1 December.<\/p>\n<p><strong>Setting aside MNT-Halan, the average transaction raised was almost 3x this year compared to 2020. <\/strong>Of those who disclosed a precise figure, the average raised this year per transaction was USD 6.09 mn, up from USD 2.38 mn in 2020.<\/p>\n<p><strong>The five largest tickets in 2021? Most of them were series A rounds: <\/strong><a style=\"color: #fc7601;\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b07d9131-549a-4e31-aba4-b39a6704f6ac\">MNT-Halan raised USD 120 mn<\/a>, followed by <a style=\"color: #fc7601;\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/85f214d3-40dd-4236-b156-ddf241385e11\">Trella\u2019s USD 42 mn series A round<\/a>. <a style=\"color: #fc7601;\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48c7f3ae-18ae-4584-9eb9-d62d863793ba\">Maxab announced a USD 40 mn round<\/a>, while Capiter and Breadfast saw <a style=\"color: #fc7601;\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e159f8b4-f7ca-4e2a-bad4-b9c90de5eaf2\">USD 33 mn<\/a> and <a style=\"color: #fc7601;\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/085710b0-3a7a-4cde-a273-471da81720b0\">USD 26 mn<\/a>, respectively, go into their bank accounts.<\/p>\n<p><strong>Some 60% of investments had international involvement, compared to 53% last year. <\/strong>In previous years, \u201cinternational\u201d involvement mostly referred to regional investors, but this year we\u2019ve seen investors from Japan, the UK, Switzerland, pan-Africa, Canada, Japan, and even Ireland join local funding rounds. We even had Silicon Valley\u2019s<a style=\"color: #fc7601;\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1f1ed149-d4e7-4701-9c3a-b1413e1d1791\">Sequoia Capital enter the region for the first time through its investment in fintech outfit Telda<\/a>.<\/p>\n<p><strong>Fintech and e-commerce are almost tied again for the top sectors of 2021, which was also the case in 2020. <\/strong>Fintech saw 13 transactions, while e-commerce (between B2B and B2C) saw 11 investment rounds.<\/p>\n<p><strong>What\u2019s new and interesting about this year is where the biggest pickups in investment rounds happened:<\/strong> Edtech, had 8 investments (up three from last year), and healthtech and grocery delivery had five investments apiece. Taking on supply chain solutions has also proven to become more popular, with six rounds in the logistics sector. Proptech, which was barely seen in the past years, nailed 3 investment rounds.<\/p>\n<p><strong>Pre-seed and seed rounds were all the rage this year:<\/strong> We saw 28 pre-seed rounds and 23 seed rounds raised in 2021, accounting for the bulk of this year\u2019s rounds. Twenty-three companies did not specify for which rounds they were raising, seven raised a pre-series A, six announced series A rounds, and nine companies ranged between bridge rounds and other types of funding.<\/p>\n<p><strong>Pre-seed rounds specifically kept breaking records in the first half of the year. <\/strong><a style=\"color: #fc7601;\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7885f56e-31bd-4c24-87ae-bea3605d3c24\">Dayra started off with a USD 3 mn round in March<\/a>, after which <a style=\"color: #fc7601;\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a5e87a37-7b02-44f7-8899-77ee073ccfb3\">Flextock raised USD 3.25 mn in May<\/a>, followed by <a style=\"color: #fc7601;\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1f1ed149-d4e7-4701-9c3a-b1413e1d1791\">Telda\u2019s announcement of a USD 5 mn pre-seed round<\/a>. But the largest we heard of to-date was <a style=\"color: #fc7601;\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cbb47824-e06f-4681-b071-23b218f03bcb\">Rabbit\u2019s USD 11 mn round in November<\/a>.<\/p>\n<p><strong>What do startups want to do with all those USDs? Mainly geographical expansion. <\/strong>Thirty-three startups want to either enter new locations within Egypt, or venture beyond our borders, most popularly into MENA and the GCC. Hiring and product development were also among the most sought ambitions of startups that raised investments in 2021.<\/p>\n<p><strong>Five acquisitions from the local startup world graced our news coverage last year. <\/strong><a style=\"color: #fc7601;\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5519e922-35ea-47ab-bb02-f88a9d42efe7\">Eventtus<\/a> was acquired by US event management platform Bevy, South African home services firm SweepSouth bought <a style=\"color: #fc7601;\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bdcf1a59-cb45-487e-9e78-1e3128edcd86\">Filkhedma<\/a>, CIRA acquired 51% of education startup <a style=\"color: #fc7601;\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d3aefb52-9147-4551-b3fa-bf3ccb80bbbf\">Innovvette<\/a>, <a style=\"color: #fc7601;\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8b908a2b-427d-4ab2-9b5e-af9cc6c85e15\">Tareeqi<\/a> was scooped up by Oman-based e-Mushrif, and Jordanian B2B healthtech platform Aumet acquired Egyptian startup <a style=\"color: #fc7601;\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/724cc421-3722-416f-9554-f4e6ed456c87\">Platform One<\/a>.<\/p>\n<p><strong>And startup-to-startup acquisitions have also seen a (small but noteworthy) spike.<\/strong> B2B commerce platform <a style=\"color: #fc7601;\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/40d6ef01-4a88-49fd-af20-7f8279df1629\">MaxAB acquired Moroccan startup WaystoCap<\/a> last summer, Egyptian edtech startup <a style=\"color: #fc7601;\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b9435c07-5c41-478a-a820-4cf70590f65f\">Tyro bought local edtech outfit Nafham<\/a>, and Egypt-based customized celeb video platform <a style=\"color: #fc7601;\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aeb71b35-8178-4e24-9fa5-d3a56a0b54d6\">Minly scooped up Emirati celebrity shout-out platform Oulo<\/a>.<\/p>\n<p><strong>More seasoned entrepreneurs and founders are starting new businesses: <\/strong>\u201cEntrepreneurship is attracting people with more experience, which we will see even more of in 2022\u201d managing partner at Algebra Ventures Tarek Assaad tells us.<\/p>\n<p><strong>Next week, we\u2019ll dive into how investment vehicles in Egypt developed over the past year<\/strong>, before we tell you what (we think) is in store for 2022.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>Your top stories on future trends for the week:<\/strong><\/p>\n<ul>\n<li><strong>MENA SPACs this month:<\/strong> Swvl and Anghami are expected to <a style=\"color: #fc7601;\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bcfb262f-b3a9-4a65-85f7-ae377d713cfd\">complete their SPAC mergers<\/a> and list on the Nasdaq in the second half of January.<\/li>\n<li><strong>Startup buys startup:<\/strong> Jordanian B2B healthcare marketplace Aumet <a style=\"color: #fc7601;\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/724cc421-3722-416f-9554-f4e6ed456c87\">has acquired 100%<\/a> of Egypt-based digital pharmacy supplier Platform One.<\/li>\n<li><strong>A record year for Africa tech investment: <\/strong>African tech startups raised a record USD 5 bn of investment in 2021, with most of the funding concentrated in Nigeria, South Africa, Kenya and Egypt, according to a report from Briter Bridges Intelligence cited by <a style=\"color: #fc7601;\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-12-31\/u-s-investors-return-to-africa-aiding-startups-cap-record-year?sref=mmeFTDW1\">Bloomberg<\/a>.<\/li>\n<\/ul>\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\/investment-watch\/\">investment 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                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"542539\" 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\/2022\/01\/02\/542539\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542539\" class=\"content-area-description single-story post-542539 post type-post status-publish format-standard hentry category-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>Early 2022: Results <a href=\"https:\/\/www.elwatannews.com\/news\/details\/5876314\">to be announced<\/a> for the second round of the state\u2019s gold and precious metals auction.<\/p>\n<p>1Q2022: <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9cd1fc44-1593-4317-8658-0aa792215521\">Launch of the Egyptian Commodities Exchange<\/a>.<\/p>\n<p>1Q2022: Swvl acquisition of Viapool expected to close.<\/p>\n<p>1Q2022: Waste collection startup Bekia plans to expand to the UAE and Saudi Arabia.<\/p>\n<p>1Q2022: Macro Group intends to IPO on the EGX.<\/p>\n<p>January 2022: Tenth of Ramadan dry port tender to be launched.<\/p>\n<p>January 2022: NilePreneurs is launching a <a href=\"https:\/\/bit.ly\/30M5x6Q\">training program<\/a> that aims to increase the industrial capacity of SMEs in the automobile manufacturing, home appliances and engineering industries.<\/p>\n<p>1-15 January (Saturday-Saturday): Qualified Industrial Zones (<a href=\"https:\/\/www.trade.gov\/qualifying-industrial-zones\">QIZ<\/a>) Joint Committee.<\/p>\n<p>4 January (Tuesday): OPEC+ ministerial meeting.<\/p>\n<p>7 January (Friday): Coptic Christmas.<\/p>\n<p>9 January - 6 February (Sunday-Sunday): 2021 Africa Cup of Nations, Cameroon.<\/p>\n<p>10-13 January (Monday-Thursday): <a href=\"https:\/\/wyfegypt.com\/\">World Youth Forum<\/a>, Sharm El Sheikh.<\/p>\n<p>15 January (Saturday): Target date for the finalization of snackfood giant Edita\u2019s acquisition of the Egyptian Belgian Company, owner of the Ole brand.<\/p>\n<p>Second half of January: Egypt <a href=\"https:\/\/alborsaanews.com\/2021\/11\/23\/1483989\">will host<\/a> the Egyptian-Bahraini Joint Committee.<\/p>\n<p>Second half of January: <a href=\"https:\/\/alborsaanews.com\/2021\/12\/20\/1492507\">Regulations<\/a> for installing EV charging stations will be published.<\/p>\n<p>16 January (Sunday): SODIC shareholders <a href=\"https:\/\/www.egx.com.eg\/ar\/BulletinNews.aspx?BCODE=272510&All=\">will vote<\/a> on the company\u2019s new board of directors at an extraordinary general meeting.<\/p>\n<p>17-19 January (Monday-Wednesday): <a href=\"https:\/\/www.worldfutureenergysummit.com\/en-gb.html\">World Future Energy Summit<\/a>, Abu Dhabi.<\/p>\n<p>20 January (Thursday): Kadmar Shipping\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/01ff5c98-c2b7-42a3-9c0f-7e33f4c9e638\">new line<\/a> transporting agricultural crops between Alexandria and Russia begins its operations.<\/p>\n<p>23 January (Sunday): Deadline for Macro Pharma to IPO on the EGX.<\/p>\n<p>25 January (Tuesday): 25 January revolution anniversary \/ Police Day.<\/p>\n<p>27 January (Thursday): National holiday in observance of 25 January revolution anniversary \/ Police Day.<\/p>\n<p>End of January: The Egyptian-Romanian business forum will take place with the aim of strengthening joint investment relations.<\/p>\n<p>January-February 2022: Construction work on the Abu Qir metro upgrade <a href=\"https:\/\/www.youtube.com\/watch?v=vXBilirlgw0\">will begin<\/a>.<\/p>\n<p>February: Hassan Allam Construction\u2019s <a href=\"https:\/\/alborsaanews.com\/2021\/12\/07\/1488592\">new construction firm<\/a> established with Russia\u2019s Titan-2 to handle construction work on the Dabaa nuclear power plant begins its operations.<\/p>\n<p>February: Ghazl El Mahalla shares will begin trading on the EGX this month.<\/p>\n<p>Mid-February: End of grace period to comply with new minimum wage for firms who sent in exemption requests.<\/p>\n<p>11 February (Friday): <a href=\"https:\/\/finance.yahoo.com\/news\/vistas-media-acquisition-company-inc-203000610.html\">Deadline for Anghami SPAC merger<\/a>.<\/p>\n<p>11-13 February (Friday-Sunday) FIBA Intercontinental Cup, Cairo.<\/p>\n<p>14-16 February (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>15 February (Tuesday): The Industrial Development Authority\u2019s deadline for <a href=\"https:\/\/alborsaanews.com\/2021\/11\/21\/1483299\">receiving offers<\/a> from companies for licenses to manufacture steel products.<\/p>\n<p>19 February (Saturday): Public universities begin the second term of the 2021-2022 academic year.<\/p>\n<p>End of February: Lebanon to receive gas from Egypt via a pipeline crossing Jordan and Syria.<\/p>\n<p>1H2022: Target date for IDH to close its acquisition of 50% of Islamabad Diagnostic Center.<\/p>\n<p>1H2022: The World Economic Forum annual meeting, location TBD.<\/p>\n<p>1H2022: e-Finance\u2019s digital healthcare service platform, eHealth, will launch its services.<\/p>\n<p>1H2022: The government will respond to private companies\u2019 bids to build desalination plants.<\/p>\n<p>March: <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/304519788385115\">Rollout<\/a> of the government financial management information system (GFMIS), a suite of electronic tools to automate the government\u2019s financial management processes (<a href=\"https:\/\/ent.news\/2021\/7\/tnm1007.pdf\">pdf<\/a>) that will replace the existing \u201cclosed\u201d financial management system.<\/p>\n<p>March: 4Q2021 earnings season.<\/p>\n<p>March: Deadline for the World Health Organization\u2019s <a href=\"https:\/\/www.who.int\/news\/item\/01-12-2021-world-health-assembly-agrees-to-launch-process-to-develop-historic-global-accord-on-pandemic-prevention-preparedness-and-response\">intergovernmental negotiating body<\/a> to meet to discuss binding treaty on future pandemic cooperation.<\/p>\n<p>March: World Cup playoffs.<\/p>\n<p>31 March (Thursday): Deadline for submitting tax returns for individual taxpayers.<\/p>\n<p>31 March (Thursday): Supply Ministry expected to take final decision on bread subsidies by this date.<\/p>\n<p>2 April (Saturday): First day of Ramadan (TBC).<\/p>\n<p>3 April (Sunday): Bidding begins on the Industrial Development Authority\u2019s license to manufacture tobacco products.<\/p>\n<p>4 April (Monday): CDC Group will formally change its name to British International Investment.<\/p>\n<p>22-24 April (Friday-Sunday): <a href=\"http:\/\/sdg.iisd.org\/events\/2022-spring-meetings-of-the-world-bank-group-and-the-international-monetary-fund\/\">World Bank-IMF spring meeting<\/a>, Washington D.C.<\/p>\n<p>24 April (Sunday): Coptic Easter Sunday (holiday for Coptic Christians).<\/p>\n<p>25 April (Monday): Sham El Nessim.<\/p>\n<p>25 April (Monday): Sinai Liberation Day.<\/p>\n<p>30 April (Saturday): Deadline for submitting corporate tax returns for companies whose financial year ends 31 December.<\/p>\n<p>Late April - 15 May: 1Q2022 earnings season<\/p>\n<p>May: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>2 May (Monday): Eid El Fitr (TBC).<\/p>\n<p>15-18 June: <a href=\"https:\/\/forumspb.com\/en\/\">St. Petersburg International Economic Forum<\/a> (SPIEF), St. Petersburg.<\/p>\n<p>16 June (Thursday): End of 2021-2022 academic year for public schools.<\/p>\n<p>27 June-3 July (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p>30 June (Thursday): June 30 Revolution Day, national holiday.<\/p>\n<p>End of 2Q2022: The Financial Regulatory Authority\u2019s new Ins. Act should be approved.<\/p>\n<p>End of 1H2022: Emirati industrial company M Glory Holding and the Military Production Ministry will begin the mass production of dual fuel pickup trucks that can run on natural gas.<\/p>\n<p>2H2022: <a href=\"https:\/\/www.ief.org\/news\/egypt-to-host-8th-ief-igu-ministerial-gas-forum-in-2022\">IEF-IGU Ministerial Gas Forum<\/a>, Egypt. Date + location TBA.<\/p>\n<p>July: A law governing ins. for seasonal contractors will come into effect.<\/p>\n<p>8 July (Friday): Arafat Day.<\/p>\n<p>9-13 July (Saturday-Wednesday): Eid Al Adha, national holiday.<\/p>\n<p>30 July (Saturday): Islamic New Year.<\/p>\n<p>Late July - 14 August: 2Q2022 earnings season.<\/p>\n<p>September: Egypt will display its first naval exhibition with the title <a href=\"https:\/\/bit.ly\/3lshDZX\">Naval Power<\/a>.<\/p>\n<p>6 October (Thursday): Armed Forces Day, national holiday.<\/p>\n<p>8 October (Saturday): Prophet Muhammad\u2019s birthday.<\/p>\n<p>18-20 October(Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p>Late October - 14 November: 3Q2022 earnings season.<\/p>\n<p>End of 2022: e-Aswaaq\u2019s tourism platform will complete the roll out of its ticketing and online booking portal across Egypt.<\/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":542512,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-542511","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"13d3b18f-7d8a-4c3c-af94-94b214f63597","teaser":"","photo_url":"https:\/\/ent.news\/2022\/1\/1.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>EGX boss says 4-5 companies could offer shares this year - 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\/issues\/egx-boss-says-4-5-companies-could-offer-shares-this-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EGX boss says 4-5 companies could offer shares this year\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/egx-boss-says-4-5-companies-could-offer-shares-this-year\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T19:55:00+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/1.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\/issues\/egx-boss-says-4-5-companies-could-offer-shares-this-year\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/egx-boss-says-4-5-companies-could-offer-shares-this-year\/\",\"name\":\"EGX boss says 4-5 companies could offer shares this year - 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