{"id":554311,"date":"2021-12-29T04:03:20","date_gmt":"2021-12-29T04:03:20","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=554311"},"modified":"2025-12-16T00:28:01","modified_gmt":"2025-12-16T00:28:01","slug":"learn-the-secrets-of-our-2021-investment-ma-and-ecm-trackers","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/learn-the-secrets-of-our-2021-investment-ma-and-ecm-trackers\/","title":{"rendered":"Learn the secrets of our 2021 investment, M&#038;A and ECM trackers"},"content":{"rendered":"<section id=\"554313\" 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=\"554313\">\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\/2021\/12\/29\/this-morning-its-the-final-enterpriseam-issue-of-2021-recapping-a-year-packed-with-fresh-investment-ma-and-a-freshly-restocked-ipo-program\/\">\r\n                            THIS MORNING: It\u2019s the final EnterpriseAM issue of 2021, recapping a year packed with fresh investment, M&#038;A and a freshly restocked IPO program                        <\/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 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                   <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554313\" class=\"content-area-description single-story post-554313 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-enterpriseam tag-nato tag-russia tag-ukraine tag-us tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, wonderful people, and welcome to our final issue of EnterpriseAM for <\/strong><strong>2021. <\/strong>We hope the year has been kind to you and that you\u2019re looking forward to 2022 as much as we are.<\/p><p><strong>THANK YOU, all of you, for choosing to start and end your days with us. <\/strong>Writing to a group of people as smart and kind as you is the highlight of our professional career. We could literally not ask for a better audience.<\/p><p><strong>Our final issue of the year is packed with our final look-back at 2021:<\/strong> Capital markets, M&amp;A, and investment. We won\u2019t be publishing tomorrow, but you will find a special edition of Your Wealth to keep you company this Friday, 31 December. EnterpriseAM will be back in your inboxes on Sunday morning to welcome the new year.<\/p><p><strong>It\u2019s a great note on which to end the year: Egyptian and foreign here companies are <\/strong><strong>investing more. <\/strong>They\u2019re engaged in tons of M&amp;A. And IPOs staged a solid comeback, thanks in no small part to the state\u2019s resurgent privatization program.<\/p><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>***WANT TO HAVE BREAKFAST WITH US?<\/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 in early January to help you 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><p><strong>PSA- The weather forecast for the weekend keeps changing, but it\u2019s still looking like we\u2019ll <\/strong><strong>be welcoming the new year with lots of precipitation<\/strong> in Cairo, Alexandria and beyond. Folks in the capital city can expect as much as 5 mm of rain tomorrow, 3 mm on Friday, 10 mm on Sunday and scattered showers both Saturday and Monday, according to our favourite weather app.<\/p><p><strong>THE BIG STORY ABROAD on this late 2021 day<\/strong><strong>: It was a \u201cblockbuster\u201d year globally as <\/strong><strong>companies raised more than USD 12 tn in combined equity and debt<\/strong>, thanks in no small part to central bank stimulus, according to the lead story in the <a href=\"https:\/\/www.ft.com\/content\/c656c3da-f5db-41f4-942b-1ed6de9c2d60\">Financial Times<\/a>.<\/p><p><strong>Good bad news on omicron: <\/strong>The US just set a record for new daily cases, the <a href=\"https:\/\/www.nytimes.com\/live\/2021\/12\/28\/world\/omicron-covid-vaccine-tests\/the-us-record-for-daily-coronavirus-cases-is-broken-as-omicron-and-delta-variants-disrupt-the-end-of-2021\">New York<\/a><a href=\"https:\/\/www.nytimes.com\/live\/2021\/12\/28\/world\/omicron-covid-vaccine-tests\/the-us-record-for-daily-coronavirus-cases-is-broken-as-omicron-and-delta-variants-disrupt-the-end-of-2021\">Times<\/a> reports, but <a href=\"https:\/\/www.cnbc.com\/2021\/12\/28\/covid-omicron-appears-to-protect-against-delta-could-displace-it-study.html\">CNBC<\/a> notes that <strong>infection with the comparatively mild omicron strain could be protective again the delta variant<\/strong>, according to a study out of South Africa.<\/p><p><strong>LOOKING AHEAD- Washington and Moscow are sitting down for security talks<\/strong> scheduled for 10, 12, and 13 January, to discuss military activity and developments in Ukraine as tensions rise between the two countries, reported <a href=\"https:\/\/www.reuters.com\/world\/us-russian-officials-set-security-talks-jan-10-us-official-2021-12-28\/\">Reuters<\/a>. The talks will include NATO, Ukraine, and other former Soviet Union states.<\/p><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<\/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    <\/p><\/div>\n<\/div>\n<\/div><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue: <\/strong>It\u2019s d\u00e9j\u00e0 vu on the infrastructure front in 2021, with supply chain issues slowing everything down from ports, to automotive parts, to maritime shipping and the green economy. How did your industry fare?<\/p>\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\/nato\/\">NATO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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=\"554314\" 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=\"554314\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/554314\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554314\" class=\"content-area-description single-story post-554314 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\/2021\/12\/SOMA-ENTERPRISE-NYE22-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p>With a mind-blowing three day weekend lined up at Somabay, ByGanz is bringing New Years to the bay in extravagant style. For three days (the 30th to the 1st of January) world renowned shows, artists and extraordinary performances will be painting the shores of Somabay with out of this world celebrations.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554315\" 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=\"554315\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/fra-takes-legal-action-against-speed-medical\/\">\r\n                            FRA takes legal action against Speed Medical                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/fra-takes-legal-action-against-speed-medical\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/fra-takes-legal-action-against-speed-medical\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/fra-takes-legal-action-against-speed-medical\/\">\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=FRA takes legal action against Speed Medical&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/fra-takes-legal-action-against-speed-medical\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/fra-takes-legal-action-against-speed-medical\/&title=FRA takes legal action against Speed Medical\">\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=FRA+takes+legal+action+against+Speed+Medical+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F29%2Ffra-takes-legal-action-against-speed-medical%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/fra-takes-legal-action-against-speed-medical\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/541.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"554316\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/fra-takes-legal-action-against-speed-medical\/541-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/541.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"541.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/541.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/541.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554315\" class=\"content-area-description single-story post-554315 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-egx tag-enterpriseam tag-financial-regulatory-authority tag-ma-watch tag-prime-speed-medical tag-speed-medical wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a><strong> Speed-related drama in the headlines:<\/strong> The Financial Regulatory Authority (FRA) has filed two lawsuits against Speed Medical (SPMD) before the Cairo Economic Court, SPMD said in a <a href=\"https:\/\/ent.news\/2021\/12\/Speed-Medical-FRA.pdf\">regulatory filing yesterday (pdf)<\/a>. An FRA official declined to get into the specifics of the lawsuits, saying the agency cannot comment about ongoing legal proceedings. We think the cases could involve the court ruling on whether SPMD violated FRA disclosure rules in announcements on plans to acquire Prime Speed Medical (which were later dropped) and ongoing plans to buy New Al Safwa Specialized Hospital.<\/p>\n<p><strong>Look for the first hearing in the case to be held on 3 January <\/strong>after having been earlier postponed, according to the SPMD disclosure, which said that the company was first notified of the proceedings on Monday. SPMD Chairman Mahmoud Lasheen declined to provide further comment when approached by Enterprise.<\/p>\n<p><strong>Background:<\/strong> SPMD recently decided to<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b23d84f0-fb58-4fd1-a744-0810b9d31376\">offload its 30% stake in Prime Speed<\/a> amid a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dd42a6b4-c0fc-4b31-b54a-d58ce34e90ac\">feud<\/a> between the erstwhile partners, reversing plans to take over the entire company by acquiring 70% of Prime Speed in a share-swap. Speed Medical\u2019s subsidiary Speed Hospitals also has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/09356788-67c5-475d-986b-bdd7a991a6c9\">ongoing plans<\/a> to acquire at least 51% of Al Safwa, as well as management rights, but the transaction has been held up by a delay in obtaining health ministry approvals \u2014 leading SPMD to pay Al Safwa\u2019s shareholders EGP 4 mn to secure an extension on the transaction\u2019s terms.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/prime-speed-medical\/\">Prime Speed Medical<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-medical\/\">Speed Medical<\/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=\"554317\" 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=\"554317\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/globalcorp-tamweel-close-securitized-bond-offerings\/\">\r\n                            GlobalCorp, Tamweel close securitized bond offerings                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/globalcorp-tamweel-close-securitized-bond-offerings\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/globalcorp-tamweel-close-securitized-bond-offerings\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/globalcorp-tamweel-close-securitized-bond-offerings\/\">\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=GlobalCorp, Tamweel close securitized bond offerings&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/globalcorp-tamweel-close-securitized-bond-offerings\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/globalcorp-tamweel-close-securitized-bond-offerings\/&title=GlobalCorp, Tamweel close securitized bond offerings\">\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=GlobalCorp%2C+Tamweel+close+securitized+bond+offerings+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F29%2Fglobalcorp-tamweel-close-securitized-bond-offerings%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/globalcorp-tamweel-close-securitized-bond-offerings\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/542.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"554318\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/globalcorp-tamweel-close-securitized-bond-offerings\/542-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/542.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"542.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/542.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/542.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554317\" class=\"content-area-description single-story post-554317 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-banque-misr tag-bonds tag-cib tag-debt-watch tag-enterpriseam tag-globalcorp wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>GlobalCorp issued the <\/strong><strong>first <\/strong><strong>EGP 985 mn<\/strong><strong> tranche of a EGP 5 bn securitized bond program<\/strong>, the non-bank lender announced in a <a href=\"https:\/\/globalcorp-fin.com\/media-center\/news\/leasing\/globalcorp-issues-first-securitization-bond\/\">press release<\/a>. The program is set to be completed by 2023, according to the statement.<\/p>\n<p><strong>T<\/strong><strong>he issuance includes three tranches <\/strong>with ratings of A+, AA and A, respectively, according to the factoring and leasing firm. The bonds are backed by a consortium of six Egyptian banks: Attijariwafa Bank, Arab African International Bank, Ahli United Bank, Suez Canal Bank, CIB and Banque Misr, <a href=\"https:\/\/bit.ly\/32FAdXU\">Al Mal<\/a> cited sources as saying.<\/p>\n<p><strong>T<\/strong><strong>he size of the overall program has increased<\/strong>, even if this tranche is a bit smaller than we\u2019d expected. GlobalCorp was planning to sell EGP 1.1 bn of securities by the end of this year, as part of a EGP 3-3.5 bn issuance set to be completed by 2023, CEO and Managing Director Hatem Samir was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/052847c2-bfff-40f5-9616-c5acf8b99611\">quoted as saying<\/a> in September.<\/p>\n<p><strong>ADVISORS- <\/strong>CIB and Misr Capital were financial advisors for the offering, while Dreny & Partners were counsel.<\/p>\n<p><strong>MEANWHILE-<\/strong><\/p>\n<p><strong>Tamweel Mortgage Finance also closed the first EGP 460 mn tranche of a EGP 3 bn <\/strong><strong>securitized bond issuance<\/strong>, <a href=\"https:\/\/www.alborsaanews.com\/2021\/12\/28\/1494828\">Al Borsa<\/a> quotes Managing Director Mohammed El Kahki as saying. The three tranches carry tenors of 12, 36, and 60 months. The issuance was backed by a consortium of seven banks: The National Bank of Egypt, Banque Misr, CIB, AAIB, Suez Canal Bank, Ahli United Bank, and Attijariwafa Bank.<\/p>\n<p><strong>ADVISORS-<\/strong> CIB was lead manager, promotor, and underwriter of the issuance. Dreny & Partners provided counsel. Meris provided the credit rating for the issuance.<\/p>\n<p><strong>BACKGROUND + WHAT\u2019S NEXT-<\/strong><\/p>\n<p><strong>The securitized bond market is hot, but not as hot as it was before: <\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0fcbee26-6e79-473b-acfe-a8c7c7de76c1\">By our count<\/a>, a total of 14 issuances worth a combined EGP 12.63 bn went to market. This is a little over half of the EGP 22.1 bn raised last year and the EGP 22 bn raised in 2019. But the year isn\u2019t over yet, with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7e985f43-1aa9-4b04-8727-1251cddf72f5\">CI Capital\u2019s leasing arm Corplease<\/a> having said that it was looking for a securitized bond issuance worth more than EGP 3 bn in December 2021. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/00d39a0d-828e-48e0-93a0-d70bb7f4d4dd\">GB Lease<\/a> had also reportedly been mulling a multi-tranche EGP 1.6 bn securitized bond issuance this month.<\/p>\n<p><strong>That said, things do look interesting for 2022: <\/strong>The FRA <a href=\"https:\/\/ent.news\/2021\/12\/FRA-approval-of-new-EGX-listings.pdf\">said earlier this week (pdf)<\/a> that it will approve before the year is out 11 new sales worth a combined EGP 11.5 bn. The regulator gave no indicator of which companies will be issuing the bonds, or when they could go to market.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/globalcorp\/\">GlobalCorp<\/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=\"554319\" 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=\"554319\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/oc-shareholders-nod-to-usd-35-mn-acquisition-of-sawiris-owned-business\/\">\r\n                            OC shareholders nod to USD 35 mn acquisition of Sawiris-owned business                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/oc-shareholders-nod-to-usd-35-mn-acquisition-of-sawiris-owned-business\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/oc-shareholders-nod-to-usd-35-mn-acquisition-of-sawiris-owned-business\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/oc-shareholders-nod-to-usd-35-mn-acquisition-of-sawiris-owned-business\/\">\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=OC shareholders nod to USD 35 mn acquisition of Sawiris-owned business&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/oc-shareholders-nod-to-usd-35-mn-acquisition-of-sawiris-owned-business\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/oc-shareholders-nod-to-usd-35-mn-acquisition-of-sawiris-owned-business\/&title=OC shareholders nod to USD 35 mn acquisition of Sawiris-owned business\">\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=OC+shareholders+nod+to+USD+35+mn+acquisition+of+Sawiris-owned+business+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F29%2Foc-shareholders-nod-to-usd-35-mn-acquisition-of-sawiris-owned-business%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/oc-shareholders-nod-to-usd-35-mn-acquisition-of-sawiris-owned-business\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/543.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"554320\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/oc-shareholders-nod-to-usd-35-mn-acquisition-of-sawiris-owned-business\/543-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/543.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"543.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/543.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/543.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554319\" class=\"content-area-description single-story post-554319 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam tag-financial-regulatory-authority tag-ma-watch tag-orascom-construction 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>Orascom Construction (OC) will acquire 100% of a<\/strong><strong>n <\/strong><strong>equipment import, distribution and services business<\/strong> that is 100% owned by the Sawiris family. The transaction is worth a total of USD 35 mn and comes after shareholders voted in favor of the move at an <a href=\"https:\/\/ent.news\/2021\/12\/EGM-Voting-Results.pdf\">extraordinary general meeting on Monday (pdf)<\/a>. OC shareholders also approved a fair value study of the business prepared by \u200b\u200bHLB for Financial Consultancies on Securities.<\/p>\n<p><strong>The business:<\/strong> The target entity has three subsidiaries active in equipment import, distribution and maintenance \u2014 Orascom Trading, Orascom Freezone and National Equipment Company. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2cf129ac-df9d-4b16-9f2f-8a0c2470e476\">The company is the sole agent<\/a>for more than 45 original equipment manufacturers in Egypt, including Grove, John Deere, Volvo Penta, Hitachi, and Mitsubishi Heavy Industries.<\/p>\n<p><strong>Background: <\/strong>OC <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5cce26dc-5c79-4c7d-a2fc-c57caefc1310\">first announced<\/a> its plan to go ahead with the acquisition in October. While the business is owned by the Sawiris family, it is legally separate from OC. Shareholders who are members of the Sawiris family were set to abstain from voting, as were two board members.<\/p>\n<p><strong>What\u2019s next? <\/strong>The acquisition is currently pending review by the Financial Regulatory Authority, after which the shares should be transferred, a source from OC told us.<\/p>\n<p><strong>OTHER M&A NEWS-<\/strong> Porto Consultancy purchased a 43.9% stake in Amer Group Holding in a EGP 369.2 mn transaction, according to <a href=\"https:\/\/bit.ly\/315AF1c\">Hapi Journal<\/a>. Porto Consultancy bought the stakes from three shareholders.<\/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\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/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=\"554321\" 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=\"554321\">\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\">YEAR IN REVIEW: M&amp;A<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/a-solid-year-for-ma\/\">\r\n                            A solid year for M&#038;A                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/a-solid-year-for-ma\/\" 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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All numbers in this story are based on our internal Enterprise M&A Tracker, which we maintain throughout the year.<\/p>\n<p><strong>Some 38 transactions closed this year<\/strong>, eight of them tie-ups that had been announced in 2020 and the rest agreements that were announced and closed this year. The completion rate on this year\u2019s planned transactions stands at around 40%, down from 56% in 2020 \u2014 and way down from 2019\u2019s c.80% completion rate.<\/p>\n<p><strong>Six M&As were scrapped altogether<\/strong>, out of the 76 tie-ups that were announced throughout the whole year. By our count, there are some 46 transactions that are either still in the works, are pending regulatory approval, or appear to have stalled somewhere along the way.<\/p>\n<p><strong>The Transaction of the Year?<\/strong> It\u2019s a tie-up between Emirati real estate giant Aldar Properties and Abu Dhabi sovereign wealth fund ADQ\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ae3ee729-0f45-470b-a78c-bbd118ced392\">snap-up of 85.5% of SODIC<\/a>, and EFG Hermes and the Sovereign Fund of Egypt finally <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a015541a-1a21-48dd-80d4-3dd23dd9d76b\">closing their acquisition<\/a> of a combined 76% stake in the Arab Investment Bank.<\/p>\n<p><strong>EFG Hermes officially became a universal bank with its acquisition of the Arab Investment Bank<\/strong>, with its Egyptian operations now including an investment bank, a commercial bank and a fast-growing non-bank financial services platform. And while the transaction is huge for EFG as an institution, it\u2019s also big news for Egypt\u2019s banking sector, as it marked the first privatization in the sector since the 2006 sale of an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e852714b-b92d-4097-a41f-0024c332ed51\">80% stake<\/a> in Bank of Alexandria to Intesa Sanpaolo.<\/p>\n<p><strong>SODIC\u2019s sale to the Aldar \/ ADQ consortium was the largest-ever M&A and case of foreing direct investment in Egypt\u2019s real estate market<\/strong>, bringing in EGP 6.1 bn in an all-cash transaction. Notably, the acquisition acts as Aldar\u2019s entry point into our real estate market, with the Emirati giant <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ff33ea0-89c5-479c-87c3-bace1f57c63c\">signaling<\/a> that it\u2019s assessing several other possible ventures in Egypt.<\/p>\n<p><strong>The reworked transaction of the year:<\/strong> Vodafone Group\u2019s sale of Vodafone Egypt. After the London-based mother company\u2019s planned USD 2.4 bn sale of Vodafone Egypt to Saudi Telecom went bust at the tail-end of 2020, Vodafone PLC transferred its 55% stake in Vodafone Egypt to its South Africa unit, Vodacom, in a EUR 2.72 bn transaction <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/64fb19dc-f090-4b40-844d-01a5cb619e83\">last month<\/a>.<\/p>\n<p><strong>The big bust of 2021: The mega-merger between Cleopatra Hospitals Group and Alameda Healthcare<\/strong>, which had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f49a0bad-84a7-49f3-b20e-68c1976ec30b\">appeared<\/a> to be in the clear at the end of 2020, but the agreement was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/80133ec1-19f8-45b2-a5a7-d96d16b62242\">terminated<\/a> in May of this year. Neither side would speak on why the tie-up fell through, saying only that it wasn\u2019t a regulatory issue. The Egyptian Competition Authority had previously warned it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/804e3055-24aa-46c0-8430-66c646aaf468\">wasn\u2019t particularly inclined to approve the merger<\/a>, but insiders at both companies tell us that ultimately had nothing to do with the tie-up falling through.<\/p>\n<p><strong>NEW TREND of the year:<\/strong> Startups are now acquiring other early-stage companies, as we noted in our <a href=\"https:\/\/enterprise.press\/whatsnexts\/whats-next\/\">What\u2019s Next vertical<\/a>. The trend holds up both here and abroad: Some 268 venture-backed US companies acquired peers in the first seven months of this year, while local startups are increasingly moving towards consolidation thanks to record levels of financing, overcrowding in some sectors, and newfound IPO prospects.<\/p>\n<p><strong>For a handful of potential M&A, the competition was hotter than an early-August day:<\/strong> Chief among those is the protracted bidding war over Alex Medical, which saw not one, not two, not three, but eight companies and consortiums signaling their interest in acquiring a stake in the healthcare provider. One by one, a handful of Alex Medical\u2019s suitors <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad19be3f-8f1a-494f-933b-2462e348c032\">began pulling<\/a> (or <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8c06421e-7c3e-41fe-9f7f-eb6fce2ba842\">threatening to pull<\/a>) their offers to acquire up to 100% of the company. Time of death hasn\u2019t been called on the transaction just yet, with Cleopatra Hospitals Group, the UAE\u2019s Global One Healthcare, Nile Misr, Seha Capital, and the Tawasol Holdings-LimeVest consortium still reportedly in the battle.<\/p>\n<p><strong>The vast majority of M&A was either between local players or inbound acquisitions.<\/strong> 16 announced transactions were inbound, while 10 transactions were outbound. The remaining transactions were all domestic.<\/p>\n<p><strong>By number of transactions, healthcare and banking \/ financial services were still the prime drivers<\/strong> of announced M&A activity in the year now ending. Taking a wide view of industry classifications:<\/p>\n<p><strong>Top industries for M&A in 2021, by volume:<\/strong> Healthcare is at the top of the game, closing the year with 13 M&As, with Integrated Diagnostics Holdings\u2019 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cd562dbe-d647-49dc-95b7-9a5e94966c90\">planned acquisition<\/a> of 50% of Islamabad Diagnostic Center putting it one spot ahead of banking \/ financial services, which had 12 M&As announced this year. The runners-up: energy (6), transport and logistics (6), and fintech (4).<\/p>\n<p><strong>That\u2019s a shift from 2020<\/strong>, when the number of banking and financial services M&As was almost double those in the healthcare industry. But still, they retain the top two positions.<\/p>\n<p><strong>Top industries for M&A in 2021, by value (EGP):<\/strong> Energy \/ oil and gas (EGP 12.2 bn), followed by real estate (EGP 6.3 bn) healthcare (5.48 bn) and banking \/ financial services EGP (3.98 bn).<\/p>\n<p><strong>Top financial advisors in 2021, by volume:<\/strong> CI Capital and EFG Hermes \u2014 both of which had solid showings in 2021 \u2014 were neck-and-neck this year for the title of top financial advisors. EFG was tapped to quarterback five M&As announced this year, while CI Capital ran four. Notably, the two investment banks were financial advisors on the Aldar \/ ADQ takeover of SODIC, with CI Capital advising the Emirati consortium and EFG advising the sell-side. EFG is also advising the selling shareholder in IDH\u2019s acquisition of IDC. Arqaam Capital follows, with two of 2021\u2019s M&As in its pipeline.<\/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\/aldar-properties\/\">Aldar Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alexandria-medical-services\/\">Alexandria Medical Services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arab-investment-bank\/\">Arab Investment Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cleopatra-hospitals-group\/\">Cleopatra Hospitals Group<\/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\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sodic\/\">SODIC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554323\" 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=\"554323\">\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\">YEAR IN REVIEW: INVESTMENT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/2021-investments-are-picking-up-albeit-gingerly\/\">\r\n                            2021: Investments are picking up, albeit gingerly                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/2021-investments-are-picking-up-albeit-gingerly\/\" 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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We\u2019re not quite at the same value of investments as we were pre-pandemic, but investors appear to be bullish on Egypt. Notably, we didn\u2019t see any major investment pledges that were later scrapped.<\/p>\n<p><strong>So, how did we do on investment this year?<\/strong><\/p>\n<p><strong>First, our usual disclaimer:<\/strong> <strong>All data points recapped here are based on our internal Enterprise Investment Tracker<\/strong>, through which we track announced and executed investments in Egypt. We count only capital expenditure here \u2014 announced plans to grow opex outlay don\u2019t count. There are plenty of investments that didn\u2019t make it onto our radar because they weren\u2019t announced, particularly from smaller and mid-sized companies, and companies that aren\u2019t publicly traded.<\/p>\n<p><strong>In 2021, we reported on 118 announced investments worth a combined EGP 412.7 bn.<\/strong> The actual total value of planned investments is a notch higher \u2014 34 of the 118 commitments we reported on did not specify the expected value.<\/p>\n<p><strong>Still, that\u2019s a healthier investment pipeline than last year<\/strong>, when we reported on 92 investments worth a combined 403 bn. Last year also had a smaller share of announced investment wherein the value being committed wasn\u2019t disclosed.<\/p>\n<p><strong>The top three industries for investment in 2021, by announced value:<\/strong><\/p>\n<ul>\n<li><strong>Energy at EGP 176.6 bn<\/strong>, buoyed mostly by the USD 2.5 bn (c.EGP 39 bn) petrochemical complex Anchorage Investments is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b234b47d-4c67-4ac4-8740-29a7de38916f\">looking to build<\/a> in the Suez Canal Economic Zone;<\/li>\n<li><strong>Real estate at EGP 99.6 bn<\/strong>, with significant investment pledges from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/db76ae93-8254-4331-adae-c548dcc64f34\">Saudi Arabia\u2019s Sharbatly Group<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3626367c-b5ba-42a3-864a-6400607afc92\">Emaar Misr<\/a>;<\/li>\n<li><strong>Infrastructure at EGP 38 bn. <\/strong><\/li>\n<\/ul>\n<p><strong>Rounding out the top five:<\/strong> Healthcare (EGP 25.9 bn) and food and beverages (EGP 8.1 bn).<\/p>\n<p><strong>That\u2019s a completely different makeup than last year<\/strong>, when the top five spots went to infrastructure (EGP 168 bn), telecoms and technology (EGP 35 bn), banking and financial services (EGP 31 bn), retail (EGP 12.8 bn) and manufacturing (EGP 7.8 bn).<\/p>\n<p><strong>Healthcare and manufacturing were the top <\/strong><strong>two industries for investment this year, by number of transactions<\/strong>, with 12 transactions apiece. Manufacturing has commanded the largest number of transactions for three consecutive years, according to our trackers.<\/p>\n<p><strong>The biggest pickups in investment this year by value<\/strong> came in real estate (up more than 12x) and healthcare (+60% y-o-y).<\/p>\n<p><strong>The biggest drops:<\/strong> Retail, where investments fell 80% y-o-y, and infrastructure, which saw a 77% y-o-y drop in investments. The caveat: Last year\u2019s infrastructure investment figure was massive thanks solely to the National Egyptian Company for Railroad Industries, in which the government is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b53954d2-8ae2-4eb9-b5c3-ef082e747867\">offering the majority of the equity to private-sector companies<\/a>. Investments in telecoms and technology were also significantly lower this year compared to 2020, although 2020\u2019s investment figure was inflated as all four telecom companies announced bns in network upgrade plans.<\/p>\n<p><strong>Continuing trend of the year:<\/strong> Development finance institutions are still dishing out plenty of funding for SMEs, as was the case in 2020.<\/p>\n<p><strong>What can we expect in 2022?<\/strong> We said this last year and it didn\u2019t pan out, but businesses are still hoping for an end to the pandemic and the potential of slightly lower interest rates, if the Central Bank of Egypt decides to resume its monetary easing cycle and make capex borrowing more affordable. But with the prospects of high inflation and interest rates (thanks Fed), this doesn\u2019t seem likely.<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n         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              <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/ipos-in-2021-four-is-more-than-zero\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554326\" class=\"content-area-description single-story post-554326 post type-post status-publish format-standard hentry category-year-in-review-capital-markets-3 tag-abu-qir-fertilizers tag-capital-markets tag-e-finance tag-egx tag-enterpriseam tag-ghazl-el-mahalla tag-hisham-tawfik tag-integrated-diagnostics-holding tag-ipo-watch tag-kima tag-macro-group tag-state-privatization-program tag-taaleem tag-year-in-review-capital-markets 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>In keeping with the overall theme of the year, 2021 was the year of a hobbled recovery for <\/strong><strong>Egypt\u2019s IPO pipeline.<\/strong> Although we\u2019re ending the year with fewer IPOs and stake sales having gone to market than had been slated, four equity capital market transactions are more than zero.<\/p>\n<p><strong>The four transactions of <\/strong><strong>202<\/strong><strong>1? <\/strong><\/p>\n<ul>\n<li>Two IPOs (Taaleem and e-Finance)<\/li>\n<li>One technical listing (Cairo-headquartered IDH)<\/li>\n<li>One stake sale as part of the state privatization program (Abu Qir Fertilizers).<\/li>\n<\/ul>\n<p><strong>ALSO-<\/strong> Ghazl El Mahalla Football Club kicked off its institutional subscription <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0017ffe7-0dfd-4f5c-b9d9-3cb40439770f\">last week<\/a> for its micro-IPO and subscription to the retail portion of the offering is currently ongoing, suggesting it\u2019s unlikely to close until very early in 2022.<\/p>\n<p><strong>Reminder: 2020 was an awful year for public equities.<\/strong> The EGX was among the world\u2019s worst-performing exchanges last year, ending the year down more than 23%, with foreigners selling out of the market and trading throughout the year largely dominated by retail traders.<\/p>\n<p><strong>The EGX is now up 9.9% YTD<\/strong> \u2014 an improvement, certainly, but still<strong> lagging behind its regional peers<\/strong>, which are all ending the year with double-digit YTD growth. The Tadawul is up 30.2%, the ADX is up 66.3% and the DFM is up 28.4% so far.<\/p>\n<p><strong>It ain\u2019t much, but it\u2019s something:<\/strong> We finally saw our first real IPO on the EGX since Rameda\u2019s 2019 debut when higher education outfit<strong> Taaleem<\/strong> debuted on the stock market <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/94e97ae5-4a3e-46a4-8dca-243163201344\">in April<\/a>, bringing an end to a long drought of new paper entering the market. LSE-listed <strong>Integrated Diagnostics Holding<\/strong> (IDH) followed on Taaleem\u2019s heel with a technical listing the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48ddada3-0016-47a8-a9e6-201cb9d0cca7\">following month<\/a>, transferring 5% of its existing shares to the EGX.<\/p>\n<p><strong>Critically, 2021 was the year the state privatization program roared back to life.<\/strong> Since being announced in 2018, the program \u2014 which includes fresh IPOs and secondary sales of already-listed companies \u2014 had only seen one offering go through: Eastern Tobacco\u2019s 4.5% secondary offering in March 2019. Last year, the program was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/82f7037f-4711-42cd-a7d1-7f4f6ab1f06e\">shelved<\/a> as the pandemic roiled global markets. This year finally breathed new life into the stake-sale program, starting with e-payments firm <strong>e-Finance<\/strong>\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/23beb734-9f6f-4c55-9143-7c6935ecf804\">blockbuster IPO<\/a> in October, which saw the company raise some EGP 5.8 bn. <strong>Abu Qir Fertilizers<\/strong> came next, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/352cb619-1060-47c5-8a48-c0f5d2e91ca3\">completing the sale<\/a> of 10% of its shares for EGP 2.25 bn earlier this month.<\/p>\n<p><strong>Is Kima being added to that list?<\/strong> Egyptian Chemical Industries (Kima) could sell more shares on the EGX \u201cwhen profitability grows enough,\u201d Public Enterprises Minister Hisham Tawfik said during yesterday\u2019s inauguration of expansions to Kima\u2019s ammonia and urea industrial complex in Aswan and a textiles plant (<a href=\"https:\/\/www.youtube.com\/watch?v=95Cfe3leSZ0\">watch, runtime: 23:45<\/a>). The company will move forward with the stake sale, which would be limited to a retail offering, as soon as it sees an \u201cincrease\u201d in earnings, Hapi cited Tawfik as saying.<\/p>\n<p><strong>How are the company\u2019s financials looking now? <\/strong>The company ended 2020 deeply in the red, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/06adde44-8f4b-4aee-9332-046a53dfffad\">reporting<\/a> a EGP 631 mn loss after carrying over EGP 1.4 bn in prior losses. It\u2019s hoped that Kima 2, which was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cd1a4c69-296e-438d-bfab-a38827940236\">completed<\/a> at the start of the year and has a production capacity of 1.2 tonnes per day of ammonia and 1.5k tonnes of granular urea, will help generate stronger returns.<\/p>\n<p><strong>How are things looking for 2022?<\/strong> In a word, it\u2019s looking mixed. Globally, there\u2019s concern <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7cd3f305-2c57-41bd-b8be-8516fb5e7081\">among analysts<\/a> that the Great IPO Rush of 2021 could peter out next year, as central banks rein in stimulus programs and look to hike interest rates (as the US Federal Reserve announced it will next year). These shifting conditions could dry up the surplus liquidity that had helped companies raise record figures in bourse debuts. Then there\u2019s the fact hat as <a href=\"https:\/\/www.ft.com\/content\/4c68c37b-57ae-47b1-98dd-f4a815b3182d\">half of this year\u2019s IPOs in major global centers<\/a> are trading below their offering price \u2014 and increasing regulatory scrutiny for SPACs in the west.<\/p>\n<p><strong>Here at home, the IPO and secondary sale pipeline is a bit less anemic heading into 2022 than it was heading into the year now ending.<\/strong> Chief among those is the hotly anticipated IPO of <strong>Banque du Caire<\/strong>, which has been postponed multiple times but could finally materialize if the government continues to capitalize on the momentum created by this year\u2019s stake sales in state companies. Misr Ins. Holding could pull the trigger on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b6479909-3227-4b09-b323-f50021ec4c33\">its plan<\/a> to offer a stake in its subsidiary, <strong>Misr Life Ins.<\/strong>, in 2022, but has also yet to follow through on the EGX debut of <strong>Misr Ins<\/strong>., which was pushed from their original <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/07\/misr-insurance-misr-life-insurance-could-ipo-on-egypts-bourse-by-end-2020-4\/\">2020 timeline<\/a>.<\/p>\n<p><strong>Also f<\/strong><strong>rom the state privatization program:<\/strong> <strong>Heliopolis Housing and Development<\/strong> is looking to pull the trigger on a secondary offering by the middle of 2022, in a revival of its plan to tap the EGX, Tawfik <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/641306a6-3955-4bf6-bf11-667c71dc756b\">said last month<\/a>. The company had initially intended to offer another 15% of its shares on the EGX last year alongside the sale of a 10% stake to a private investor, but scrapped the plans after seemingly failing to find an interested buyer. The government hasn\u2019t decided whether it will change the size of the stake sale. <strong>Mopco<\/strong> is also in the chute to tap the EGX before the end of the current fiscal year, the minister <a href=\"https:\/\/alborsaanews.com\/2021\/11\/18\/1482781\">said last month<\/a>.<\/p>\n<p><strong>Over in the private sector, we have <\/strong><strong>cosmeceuticals giant Macro Pharma<\/strong>, which is planning to offer up to 45.8% in an IPO some time <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d209b00e-3051-472d-89d7-1bdc2b7588df\">in 1Q2022<\/a>. The company has a regulatory <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48d0dc09-939b-4b95-8dbb-a96e8e4b2f29\">deadline<\/a>to pull the trigger before 23 January, but could (like others, the regulator recently suggested) ask for an extension.<\/p>\n<p><strong>Healthy food brand Abu Auf is also marching towards the EGX<\/strong> with an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/98bcedd8-3687-4806-9a48-9efe1527cb04\">eye to list in 2Q2022<\/a>, having recently tapped EFG Hermes to quarterback the transaction. Non-bank financial services player <strong>Ebtikar<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/64b9e6d1-bc05-4043-be42-1ff957f42c98\">is also reportedly on deck<\/a> to go to market in early 2022.<\/p>\n<p><strong>We haven\u2019t heard a peep in a while from:<\/strong> Agrifood player Galina Holding, which was angling for <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f9e22634-f6d7-4b57-939c-fe0052322044\">an early 2021 EGX debut<\/a> but has since gone quiet. Al Gioshy Steel has also been <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/24\/algioshy-steel-plans-egypt-ipo-in-2020\/\">toying with the idea<\/a> of an IPO for more than two years, but has delayed the decision until it sees an improvement in the market.<\/p>\n<p><strong>Also a promising development for next year\u2019s IPO pipeline: The entry of SPACs to the Egyptian market<\/strong> in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a464bafe-21f2-4b7e-a02e-63708d29114c\">November<\/a>. Within just one day of the Financial Regulatory Authority (FRA) approving regs for SPACs, news emerged that <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8b2b9e3c-c72c-4751-8ce4-f71fed642c87\">at least two companies<\/a> are eyeing setting up the black-check firms and list on the EGX. The availability of SPACs could provide startups \u2014 which otherwise have a hard time listing on the bourse \u2014 a chance to go public on the EGX, Farid had said.<\/p>\n<p><strong>Then there\u2019s the lineup of military-owned companies<\/strong> in the Sovereign Fund of Egypt-led program to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e7223f0-f9e2-4a3f-a311-6c4ff9efe6fd\">open them up to private ownership<\/a>, more likely through sale of a stake to a strategic investor than via IPO. <strong>Safi<\/strong>, the bottled water brand, was gearing up to sell a minority stake to a strategic investor this year, with plenty of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d5d7a08f-8981-4c32-965f-7ae7fb4c4a23\">appetite from the market<\/a>, while <strong>Wataniya Petroleum<\/strong> was expected to sell a major stake to a strategic investor in 2H2021, having attracted several <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a942317-1102-4ec1-9b16-79861b30fcfd\">GCC<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7cd40893-6a1e-4d00-975c-6fa551a0f8f3\">homegrown players<\/a> looking to buy in. The SFE <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/37bfa952-3ece-471b-a4b1-d35058d0f791\">said last month<\/a> it\u2019s \u201cnearly done\u201d restructuring the two companies, but didn\u2019t give any indicator on the expected timeline. President Abdel Fattah El Sisi has previously said that Egypt will look to IPO military-owned companies. Planning Minister Hala El Said had said at this time last year that both <a href=\"https:\/\/www.reuters.com\/article\/egypt-economy-military-int-idUSKBN28U0VN\">Safi and Wataniya could potentially offer stakes on the EGX<\/a> after an initial stake sale to a strategic investor. Our friends at EFG Hermes are quarterbacking the transactions.<\/p>\n<p><strong>The (domestic) wild card: The introduction of the capital gains tax on 1 January.<\/strong> The government confirmed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc92b9f8-5427-446f-a7dc-2960cc4d17a4\">in September<\/a> that it will move ahead with the introduction of the 10% tax on capital gains made by resident investors. After much fretting from investors, analysts, and MPs alike over the potential negative impact of the tithe on trading volumes, the government <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ec6afc7f-e068-4bb3-86c2-bf392f54ae26\">rolled out a package<\/a> of tax breaks and fee cuts to cushion the blow for retail investors, which account for the majority of activity in the market on most days. Market reaction to the measures <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a9bb5c85-c555-4ea6-a922-0f718a06e365\">was largely muted<\/a>, in large part because they\u2019re going to have a much smaller impact on costs than will the capital gains tax.<\/p>\n<p><strong>The (global) wild card: Duh \u2014 Omicron.<\/strong> The recently-emerged variant has already led several countries to impose travel restrictions (and some moved towards full lockdowns) in scenes that were painfully reminiscent of the spring of 2020. The information that has emerged so far on the new covid-19 variant indicates that it is not more lethal than other variants, but it has yet to be seen whether it will eventually trigger significant equity sell-offs.<\/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\/abu-qir-fertilizers\/\">Abu Qir Fertilizers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-finance\/\">e-finance<\/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\/ghazl-el-mahalla\/\">Ghazl El Mahalla<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hisham-tawfik\/\">Hisham Tawfik<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/integrated-diagnostics-holding\/\">Integrated Diagnostics Holding<\/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\/kima\/\">Kima<\/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\/state-privatization-program\/\">state privatization program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/taaleem\/\">Taaleem<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/year-in-review-capital-markets\/\">YEAR IN REVIEW: CAPITAL MARKETS<\/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=\"554327\" 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=\"554327\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/554327\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554327\" class=\"content-area-description single-story post-554327 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\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=\"554328\" 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=\"554328\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/last-nights-talk-shows-the-grand-finale-of-el-sisis-upper-egypt-blitz\/\">\r\n                            Last Night\u2019s Talk Shows: The grand finale of El Sisi\u2019s Upper Egypt blitz                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/last-nights-talk-shows-the-grand-finale-of-el-sisis-upper-egypt-blitz\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" 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Night\u2019s Talk Shows: The grand finale of El Sisi\u2019s Upper Egypt blitz&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/last-nights-talk-shows-the-grand-finale-of-el-sisis-upper-egypt-blitz\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/last-nights-talk-shows-the-grand-finale-of-el-sisis-upper-egypt-blitz\/&title=Last Night\u2019s Talk Shows: The grand finale of El Sisi\u2019s Upper Egypt blitz\">\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=Last+Night%E2%80%99s+Talk+Shows%3A+The+grand+finale+of+El+Sisi%E2%80%99s+Upper+Egypt+blitz+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F29%2Flast-nights-talk-shows-the-grand-finale-of-el-sisis-upper-egypt-blitz%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/last-nights-talk-shows-the-grand-finale-of-el-sisis-upper-egypt-blitz\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554328\" class=\"content-area-description single-story post-554328 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-enterpriseam tag-kima tag-last-nights-talk-shows wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was another evening of the airwaves being dominated by coverage of President Abdel<\/strong><strong> Fattah El Sisi\u2019s inauguration of new projects<\/strong> in Upper Egypt. The president also touched yesterday on the overhaul of the country\u2019s railways. Among those taking note: Kelma Akhira\u2019s Lamees El Hadidi (<a href=\"https:\/\/www.youtube.com\/watch?v=oXybj02Lyfg\">watch, runtime: 1:46<\/a>) and Ala Mas\u2019ouleety\u2019s Ahmed Moussa (<a href=\"https:\/\/www.facebook.com\/watch\/live\/?ref=watch_permalink&v=451335309698370\">watch, runtime: 1:06:08<\/a>), Al Hayah Al Youm\u2019s Mohamed Sherdy (<a href=\"https:\/\/www.youtube.com\/watch?v=xbcT6fQe5fk\">watch, runtime: 3:03<\/a>), and Yahduth fi Misr\u2019s Sherif Amer (<a href=\"https:\/\/www.youtube.com\/watch?v=GQl7xFGdpb8\">watch, runtime: 3:16<\/a>).<\/p>\n<p><strong>Also getting attention on the airwaves last night:<\/strong> New third-class trains on the Cairo-Aswan railway lines will become operational as of next week, with ticket prices rising to EGP 125, Egyptian National Railways head Mostafa Aboul Makarem told Moussa. A one-way ticket on the older third-class trains cost EGP 55, according to Aboul Makarem (<a href=\"https:\/\/www.facebook.com\/watch\/?v=227165776258176\">watch, runtime: 3:24<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/kima\/\">Kima<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554329\" 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=\"554329\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/egypt-in-the-news-regional-cultural-competition-the-true-face-of-the-mummy\/\">\r\n                            Egypt in the News: Regional cultural competition + the true face of The Mummy                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/egypt-in-the-news-regional-cultural-competition-the-true-face-of-the-mummy\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/egypt-in-the-news-regional-cultural-competition-the-true-face-of-the-mummy\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/egypt-in-the-news-regional-cultural-competition-the-true-face-of-the-mummy\/\">\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 in the News: Regional cultural competition + the true face of The Mummy&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/egypt-in-the-news-regional-cultural-competition-the-true-face-of-the-mummy\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/egypt-in-the-news-regional-cultural-competition-the-true-face-of-the-mummy\/&title=Egypt in the News: Regional cultural competition + the true face of The Mummy\">\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+in+the+News%3A+Regional+cultural+competition+%2B+the+true+face+of+The+Mummy+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F29%2Fegypt-in-the-news-regional-cultural-competition-the-true-face-of-the-mummy%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/egypt-in-the-news-regional-cultural-competition-the-true-face-of-the-mummy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554329\" class=\"content-area-description single-story post-554329 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-ancient-egypt tag-culture tag-enterpriseam tag-film tag-human-rights tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It\u2019s a relatively calm morning for Egypt in the foreign press<\/strong>, with no single story dominating coverage. <a href=\"https:\/\/www.nytimes.com\/2021\/12\/27\/world\/middleeast\/saudi-arabia-films-movies.html?searchResultPosition=1\">The New York Times<\/a> suggests Egypt\u2019s regional cultural dominance faces a real threat in the form of Saudi Arabia, while the <a href=\"https:\/\/www.wsj.com\/articles\/egyptian-pharoahs-mummy-digitally-unwrapped-after-3-500-years-11640667662?mod=Searchresults_pos1&page=1\">Wall Street Journal<\/a> takes note of CT scans that revealed the face of the mummified Amenhotep I without disturbing his remains. The <a href=\"https:\/\/www.washingtonpost.com\/opinions\/2021\/12\/27\/egypt-human-rights-president-sissi\/\">WaPo<\/a>\u2019s editorial board is also critical of Egypt\u2019s human rights strategy.<\/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\/ancient-egypt\/\">Ancient Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/culture\/\">culture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/film\/\">film<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554330\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554331\" 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=\"554331\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/daily-covid-19-infections-around-the-world-hit-a-new-record\/\">\r\n                            Daily covid-19 infections around the world hit a new record                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/daily-covid-19-infections-around-the-world-hit-a-new-record\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/daily-covid-19-infections-around-the-world-hit-a-new-record\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/daily-covid-19-infections-around-the-world-hit-a-new-record\/\">\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=Daily covid-19 infections around the world hit a new record&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/daily-covid-19-infections-around-the-world-hit-a-new-record\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/daily-covid-19-infections-around-the-world-hit-a-new-record\/&title=Daily covid-19 infections around the world hit a new record\">\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=Daily+covid-19+infections+around+the+world+hit+a+new+record+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F29%2Fdaily-covid-19-infections-around-the-world-hit-a-new-record%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/daily-covid-19-infections-around-the-world-hit-a-new-record\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554331\" class=\"content-area-description single-story post-554331 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/237550605222828\">reported<\/a><\/strong><strong> 809 new covid-19 infections yesterday<\/strong>, down from 851 the day before. Egypt has now disclosed a total of 383,003 confirmed cases of covid-19. The ministry also reported 28 new deaths, bringing the country\u2019s total death toll to 21,667.<\/p>\n<p><strong>Daily global covid-19 cases reached an all time high of 1.4 mn on Monday <\/strong>as the omicron variant continues to spread, reports <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-12-28\/world-hits-record-daily-covid-cases-as-omicron-mars-christmas?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a>. The seven-day rolling average of worldwide infections also hit a record 841k \u2014 a 49% leap from just a month ago before the new variant was discovered in South Africa.<\/p>\n<p><strong>The silver lining: Covid-caused deaths have remained steady<\/strong>, with the seven-day rolling average of fatalities hovering around 7k since mid-October after peaking during the spread of the delta variant.<\/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\/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=\"554332\" 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=\"554332\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/sp-global-ihs-markit-sell-off-subsidiaries-ahead-of-mega-merger\/\">\r\n                            S&#038;P Global, IHS Markit sell off subsidiaries ahead of mega-merger                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/sp-global-ihs-markit-sell-off-subsidiaries-ahead-of-mega-merger\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/sp-global-ihs-markit-sell-off-subsidiaries-ahead-of-mega-merger\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/sp-global-ihs-markit-sell-off-subsidiaries-ahead-of-mega-merger\/\">\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=S&#038;P Global, IHS Markit sell off subsidiaries ahead of mega-merger&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/sp-global-ihs-markit-sell-off-subsidiaries-ahead-of-mega-merger\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/sp-global-ihs-markit-sell-off-subsidiaries-ahead-of-mega-merger\/&title=S&#038;P Global, IHS Markit sell off subsidiaries ahead of mega-merger\">\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=S%26%23038%3BP+Global%2C+IHS+Markit+sell+off+subsidiaries+ahead+of+mega-merger+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F29%2Fsp-global-ihs-markit-sell-off-subsidiaries-ahead-of-mega-merger%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/sp-global-ihs-markit-sell-off-subsidiaries-ahead-of-mega-merger\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554332\" class=\"content-area-description single-story post-554332 post type-post status-publish format-standard hentry category-planet-finance tag-cusip-global-services tag-enterpriseam tag-factset-research-systems tag-financial-markets tag-news-corp tag-planet-finance tag-pmi wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>S&amp;P Global and IHS Markit are selling off two subsidiaries worth a combined USD <\/strong><strong>2.2 bn ahead of their USD 44 bn merger<\/strong>, the <a href=\"https:\/\/www.wsj.com\/articles\/s-p-global-ihs-markit-to-sell-businesses-ahead-of-merger-11640616651?mod=hp_lista_pos5\">Wall Street Journal<\/a>. The transactions came as the two companies seek to divest themselves as businesses that could stop regulators from approving their supersize merger, which is slated for 1Q2022.<\/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>11,913<\/p>\n<\/td>\n<td>\n<p>+0.5% (YTD: +9.9%)<\/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>11,315<\/p>\n<\/td>\n<td>\n<p>+1.4% (YTD: +30.2%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>8,391<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: +66.3%)<\/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>3,199<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +28.4%)<\/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>4,786<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: +27.4%)<\/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>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,372<\/p>\n<\/td>\n<td>\n<p>- (YTD: +14.1%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 76.30<\/p>\n<\/td>\n<td>\n<p>+0.4%<\/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 4.08<\/p>\n<\/td>\n<td>\n<p>+0.7%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,804.50<\/p>\n<\/td>\n<td>\n<p>-0.4%<\/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>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 47,483.00<\/p>\n<\/td>\n<td>\n<p>-4.5%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 0.5% yesterday<\/strong> on turnover of EGP 1.2 bn (9.4% below the 90-day average). Foreign investors were net buyers. The index is up 9.9% YTD.<\/p><p><strong>In the green:<\/strong> Kima (+5.1%), Abu Qir Fertilizers (+4.6%) and GB Auto (+3.1%).<\/p><p><strong>In the red: <\/strong>Rameda (-4.3%), Heliopolis Housing and Development (-4.2%) and Orascom Development (-1.7%).<\/p>\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\/cusip-global-services\/\">Cusip Global Services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/factset-research-systems\/\">FactSet Research Systems<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/news-corp\/\">News Corp<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pmi\/\">PMI<\/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<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"554333\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">11<\/div>\r\n    \r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/supply-chain-crisis-the-2020-hangover-that-wont-ever-go-away\/\"> \r\n                            Supply chain crisis \u2014 the 2020 hangover that won\u2019t (ever?) go away<\/a>\r\n                        <\/h3>\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\/hardhats\/supply-chain-crisis-the-2020-hangover-that-wont-ever-go-away\/\" 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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New kinds of shortages compounded the issue as the year barreled on, including a tightening labor market abroad that made shipping and delivery that much slower. Here at home, microchip shortages <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/18f68872-74b1-487f-a40a-5615b65fe095\">weighed on the automotive industry<\/a>, the Suez Canal played host to a stuck ship that became emblematic of the shipping crisis, and wheat prices soared amid the global commodities squeeze. But there was light in the darkness, too, with some local startups seizing the challenge to plug the gaps in stuttering supply lines.<\/p>\n<p><strong>The lack of micro chips caused a macro problem this year<\/strong>, with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44d132d4-a514-402b-b4fe-67f73f6b81d5\">the global shortage of semiconductor chips<\/a> \u2014 a crucial component of products ranging from phones and laptops to TVs and household appliances \u2014 wreaking havoc on businesses worldwide.<\/p>\n<p><strong>Worst-hit both at home and abroad was the automotive sector: <\/strong>A slowdown in the supply of chips, electronic control units (ECUs) and other components from abroad has been impacting local car assemblers and distributors, some of them <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/de33c454-7bba-4129-85ae-0c044abeef49\">told us<\/a> in October. Industry leaders reported nosediving car imports and sales targets, while domestic production lines also slowed down.<\/p>\n<p><strong>Not only did it get increasingly difficult to source parts this year, but also more costly to have them delivered<\/strong>. Local firms\u2019 shipping costs for chips and all other car components increased around 500% YtD on the back of the global container shortage, Khaled Saad, the head of the Egyptian Association of Automobile Manufacturers and the managing director of the Brilliance Bavarian Company, told Enterprise. Meanwhile, price hikes and shipping delays began to impact sales toward the end of the year, with the most recent figures from the Automotive Information Council showing that passenger car sales were e<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce49a938-231a-4de1-9120-364532a45c34\">ssentially flat y-o-y in October<\/a> after months of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b8906b3f-3102-451e-8ad7-4f9439a5e3f2\">sustained y-o-y growth<\/a>.<\/p>\n<p><strong>The local auto industry isn\u2019t expecting a reprieve come 2022: <\/strong>Those we spoke to expect this to be a problem well into the first half of next year \u2014 while globally, others have warned that chip shortages could be part of all of our lives <a href=\"https:\/\/www.cnbc.com\/2021\/05\/12\/the-global-chip-shortage-could-last-until-2023-.html\">for years to come<\/a>. While most in the local auto industry managed to ride out constraints by relying on existing chip stocks, many expect to enter the new year with a more serious supply crunch. In response, licensed distributors are mulling a 10-15% increase on label prices, while international partners could cut local production by 25-40% y-o-y in 2022.<\/p>\n<p><strong>Green projects were also impacted:<\/strong> You can read further on how supply chain disruptions impacted our push to go green <a href=\"https:\/\/enterprise.press\/greeneconomys\/green-economy-2021-part\/\">in part 1<\/a> of our year in review of Egypt\u2019s green economy.<\/p>\n<p><strong>Materials shortages began to damage local businesses by the end of the year.<\/strong> Non-oil private sector growth was struggling under the weight of inflationary pressures stoked by global supply chain shortages <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ebbd987a-341d-42af-a2af-cc022d2c0c87\">by the fourth quarter<\/a>, as the cost of shipping, energy, and raw materials continued to rise sharply. Non-oil business activity <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f6572964-fd33-4870-9d6d-f1bb1d364abb\">remained in contraction<\/a> the entire year and, in November, input cost inflation hit its second-fastest rate in over three years. Those costs were passed onto consumers, denting demand, and thereby forcing companies to pare back orders and further deplete their inventories.<\/p>\n<p><strong>Inflation makes for a gloomy outlook:<\/strong> Expectations for future output are now at their lowest level in a year, with Egyptian firms expecting higher inflation to suppress improvement in activity over the upcoming year.<\/p>\n<p><strong>Shortages also hit basic commodities, including all-important wheat: <\/strong>While the much-prophesied commodities supercycle that we heard so much about back in the spring <a href=\"https:\/\/moneyweek.com\/investments\/commodities\/603954\/what-happened-to-the-commodities-supercycle\">largely failed to materialize<\/a>, essential goods were nevertheless hit by shipping jams and supply gaps. As the world\u2019s biggest importer of wheat, we\u2019re significantly exposed to price hikes that saw the grain trade at its highest levels in more than a decade in 2021, with Egyptian tenders delivering the highest prices in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15d45665-349c-485e-b1cb-1fc861ae8204\">at least five years<\/a>. Egypt was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/445b5f6e-59f5-429f-95ab-e917db910118\">mulling hedging<\/a> against rising grain prices last year, but has not yet announced any decision on the topic.<\/p>\n<p><strong>Shipping the grain also came with a higher price tag<\/strong>, with state grain buyer GASC <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/22c24908-154b-4662-81d5-fb4e509d28d2\">reportedly moving to suspend the 15% price advantage<\/a> extended to national shipping line National Navigation Company on delivering wheat in an attempt to reduce costs by increasing competition.<\/p>\n<p><strong>We can\u2019t avoid a mention of the Mega Container That Must Not Be Named: <\/strong>Our very own Suez Canal got its 15 minutes of international fame back in March, when the Ever Given <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dad83eac-4ca8-4b3a-8dd1-8ca1f3d8e2f4\">ran aground<\/a> in the crucial (and narrow) shipping strait.<\/p>\n<p><strong>The upshot: <\/strong>Six days of lost business worth some <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dadbd6d3-070d-4c92-a080-62ebf8ceced1\">USD 15 mn<\/a> in foregone daily revenues, a complex rescue mission, and the disruption of 10-15% of global shipping to the tune of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4efd50e1-28c6-41ca-a0cf-80f560f683a3\">over USD 9 bn per day<\/a>. Cue several months of haggling between the Egyptian government and the ship\u2019s ins. companies, which was settled in July with a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7338a482-1d8a-4ede-8eb7-7ff758f0fae2\">reported payout of USD 540 mn<\/a> to the Suez Canal Authority. The saga also gave the world\u2019s media a reason to take <a href=\"https:\/\/foreignpolicy.com\/2021\/11\/10\/what-the-ever-given-taught-the-world\/\">a closer look at global supply chains<\/a> and international shipping, highlighting the vulnerability of ever-more-connected global economies to unexpected shocks (like, say, a pandemic).<\/p>\n<p><strong>Despite the disturbance, the Suez Canal is doing just fine<\/strong>, reporting <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/250b9c8c-69b0-4e87-9d24-de0fd4ab8a7c\">record revenues<\/a> in FY2020\/21. In fact, the canal could even be set to benefit from the supply-chain crunch: <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/36bf88d1-efc3-4194-aa9a-23a4defc0035\">Transit fees are set to increase<\/a> by 6% for most ships starting February 2022, as record highs in oil prices and freight charges boost income for shipping lines.<\/p>\n<p><strong>Local shipping, meanwhile, was also affected by Nafeza: <\/strong>This year saw the rollout of the government\u2019s digital customs filing system Nafeza (or <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e9e2f68a-8c99-4750-b736-cbcdd6f65839\">ACI<\/a>), with north of 85% of active importers looped into the system as of the start of December. The new blockchain-based system is set to bring time and cost savings, as well as greater transparency, to customs procedures. There were teething problems as importers and customs officials got to grips with the tech, with some in the industry complaining that the rollout had led to further delays in getting shipments processed. But problems are being ironed out, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/34333583-f129-4e6d-ab99-763f535eccc2\">insiders told us<\/a>, and the outlook is positive for next year as authorities focus on getting banks linked up to produce a fully digital system.<\/p>\n<p><strong>The silver lining to all the hiccups: It\u2019s creating space for local startups to step in.<\/strong> For firms like <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/42589b84-b6c2-43fa-8170-20442b79a49a\">B2B bulk ordering startup MaxAB<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a027f8b6-8d6a-4ef1-a61b-3687dc0b397f\">social commerce platform Brimore<\/a> \u2014 which are stepping up to solve lingering gaps in supply chain management \u2014 the global crisis has highlighted the need to solve pre-existing flaws in the way logistics has historically been managed locally, and strengthened their investment story.<\/p>\n<p><strong>Speaking of water, maritime transport was another point of interest this year and foreign players were all for it:<\/strong> Egypt\u2019s upcoming port projects saw a number of agreements signed and investments earmarked as the country aims to expand its maritime transport network. The <strong>Tenth of Ramadan dry port<\/strong> and the <strong>Safaga port<\/strong> received USD 500 mn-worth of interest from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8f9b5225-7806-4fa4-bdf2-ea3b7dbbd903\">Abu Dhabi Ports<\/a> who also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4681e285-769b-4fef-b477-0fb6f13c6442\">signed an MoU<\/a> to manage and operate a multi-use terminal at the Safaga Port. Meanwhile, the Tenth of Ramadan project <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a4b7dda6-68ea-494b-9b5c-c5c6523967d5\">received bids<\/a> from six consortiums to build and operate the dry port. The <strong>Ain Sokhna Port<\/strong> also grabbed attention, with DP World and CDC Group eyeing the project for fresh investments as part of the pair\u2019s USD 1.7 bn platform to invest in African ports and logistics infrastructure.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>EGP 6 bn PPP overhaul at gov\u2019t food factories:<\/strong> The Supply Ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b9b25d76-9813-4d13-b5f4-ef8f6ec023d8\">is considering<\/a> partnering up with the private sector to establish four new industrial complexes for food production with investments of EGP 6 bn over the next three to five years.<\/li>\n<li><strong>President Abdel Fattah El Sisi <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5ec1083f-9901-46aa-8c32-a33e93694361\">inaugurated<\/a><\/strong><strong> new electricity projects <\/strong>in Upper Egypt and decided to include the Gharb Soheil Nubian village in Aswan to his Decent Life initiative.<\/li>\n<li><strong>The first 100k feddan phase of the Toshka megaproject also went live<\/strong> after El Sisi <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/af1b5628-23bb-4b70-8569-973225e9fcf7\">inaugurated it<\/a>.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/chip-shortage\/\">chip shortage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ever-given\/\">Ever Given<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gasc\/\">GASC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/materials-shortages\/\">materials shortages<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/semiconductors\/\">semiconductors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/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=\"554335\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/554335\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554335\" class=\"content-area-description single-story post-554335 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>31 December (Friday): Deadline for property owners to pay second installment of real estate taxes without late fees.<\/p>\n<p>End of December: El Nasr Automotive plans to sign contracts with a new partner to locally assemble EVs.<\/p>\n<p>End of 4Q2021: EdVentures plans to have closed at least one more edtech investment round.<\/p>\n<p>End of 4Q2021: Fawry plans to have launched its MyFawry card.<\/p>\n<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: Egypt will begin <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfe7607a-1e8a-44f3-b3bd-69a00b463d71\">exporting<\/a> natural gas to Lebanon.<\/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>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>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 January 2022 (Saturday): Capital gains tax comes into effect on the EGX for local investors.<\/p>\n<p>1 January 2022 (Saturday): Private sector minimum wage introduced.<\/p>\n<p>1-15 January 2022 (Saturday-Saturday): Qualified Industrial Zones (<a href=\"https:\/\/www.trade.gov\/qualifying-industrial-zones\">QIZ<\/a>) Joint Committee.<\/p>\n<p>4 January 2022 (Tuesday): OPEC+ ministerial meeting.<\/p>\n<p>7 January 2022 (Friday): Coptic Christmas.<\/p>\n<p>10-13 January 2022 (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 2022: 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 2022: <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 2022 (Monday-Wednesday): <a href=\"https:\/\/www.worldfutureenergysummit.com\/en-gb.html\">World Future Energy Summit<\/a>, Abu Dhabi.<\/p>\n<p>20 January 2022 (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 2022 (Sunday): Deadline for Macro Pharma to IPO on the EGX.<\/p>\n<p>27 January 2022 (Tuesday): National holiday in observance of 25 January revolution anniversary \/ Police Day.<\/p>\n<p>End of January 2022: 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 2022: 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>Mid-February 2022: End of grace period to comply with new minimum wage for firms who sent in exemption requests.<\/p>\n<p>11 February 2022 (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 2022 (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>15 February 2022 (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 2022 (Saturday): Public universities begin the second term of the 2021-2022 academic year.<\/p>\n<p>March 2022: <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 2022: 4Q2021 earnings season.<\/p>\n<p>March 2022: 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 2022: World Cup playoffs.<\/p>\n<p>2 April 2022 (Saturday): First day of Ramadan (TBC).<\/p>\n<p>3 April 2022 (Sunday): Bidding begins on the Industrial Development Authority\u2019s license to manufacture tobacco products.<\/p>\n<p>4 April 2022 (Monday): CDC Group will formally change its name to British International Investment.<\/p>\n<p>22-24 April 2022 (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 2022 (Sunday): Coptic Easter Sunday (holiday for Coptic Christians).<\/p>\n<p>25 April 2022 (Monday): Sham El Nessim.<\/p>\n<p>25 April 2022 (Monday): Sinai Liberation Day.<\/p>\n<p>Late April - 15 May 2022: 1Q2022 earnings season<\/p>\n<p>May 2022: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>2 May 2022 (Monday): Eid El Fitr (TBC).<\/p>\n<p>15-18 June 2022: <a href=\"https:\/\/forumspb.com\/en\/\">St. Petersburg International Economic Forum<\/a> (SPIEF), St. Petersburg.<\/p>\n<p>16 June 2022 (Thursday): End of 2021-2022 academic year for public schools.<\/p>\n<p>27 June-3 July 2022 (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p>30 June 2022 (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 2022: A law governing ins. for seasonal contractors will come into effect.<\/p>\n<p>8 July 2022 (Friday): Arafat Day.<\/p>\n<p>9-13 July 2022 (Saturday-Wednesday): Eid Al Adha, national holiday.<\/p>\n<p>30 July 2022 (Saturday): Islamic New Year.<\/p>\n<p>Late July - 14 August 2022: 2Q2022 earnings season.<\/p>\n<p>September 2022: Egypt will display its first naval exhibition with the title <a href=\"https:\/\/bit.ly\/3lshDZX\">Naval Power<\/a>.<\/p>\n<p>6 October 2022 (Thursday): Armed Forces Day, national holiday.<\/p>\n<p>8 October 2022 (Saturday): Prophet Muhammad\u2019s birthday.<\/p>\n<p>18-20 October 2022 (Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p>Late October - 14 November 2022: 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\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":554312,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-554311","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"56e80c69-8d06-4e78-9490-c4b97b907669","teaser":"","photo_url":"https:\/\/ent.news\/2021\/12\/528.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>Learn the secrets of our 2021 investment, M&amp;A and ECM trackers - 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\/learn-the-secrets-of-our-2021-investment-ma-and-ecm-trackers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Learn the secrets of our 2021 investment, M&amp;A and ECM trackers\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/learn-the-secrets-of-our-2021-investment-ma-and-ecm-trackers\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T00:28:01+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/528.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\/learn-the-secrets-of-our-2021-investment-ma-and-ecm-trackers\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/learn-the-secrets-of-our-2021-investment-ma-and-ecm-trackers\/\",\"name\":\"Learn the secrets of our 2021 investment, M&A and ECM trackers - 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