{"id":556108,"date":"2021-10-12T04:02:19","date_gmt":"2021-10-12T04:02:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=556108"},"modified":"2025-12-16T01:10:05","modified_gmt":"2025-12-16T01:10:05","slug":"enterprise-e-finance-boosts-ipo-size-amid-strong-demand-from-institutional-investors","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-e-finance-boosts-ipo-size-amid-strong-demand-from-institutional-investors\/","title":{"rendered":"Enterprise e-Finance boosts IPO size amid strong demand from institutional investors"},"content":{"rendered":"<section id=\"556110\" 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=\"556110\">\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\/10\/12\/this-morning-new-real-estate-industry-regs-in-the-works-plus-imfs-kristina-georgieva-gets-a-reprieve\/\">\r\n                            THIS MORNING: New real estate industry regs in the works? Plus: IMF\u2019s Kristina Georgieva gets a reprieve.                        <\/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\/10\/12\/this-morning-new-real-estate-industry-regs-in-the-works-plus-imfs-kristina-georgieva-gets-a-reprieve\/\" 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\/10\/12\/this-morning-new-real-estate-industry-regs-in-the-works-plus-imfs-kristina-georgieva-gets-a-reprieve\/')\">\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\/10\/12\/this-morning-new-real-estate-industry-regs-in-the-works-plus-imfs-kristina-georgieva-gets-a-reprieve\/\">\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=THIS MORNING: New real estate industry regs in the works? Plus: IMF\u2019s Kristina Georgieva gets a reprieve.&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/12\/this-morning-new-real-estate-industry-regs-in-the-works-plus-imfs-kristina-georgieva-gets-a-reprieve\/\">\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\/10\/12\/this-morning-new-real-estate-industry-regs-in-the-works-plus-imfs-kristina-georgieva-gets-a-reprieve\/&title=THIS MORNING: New real estate industry regs in the works? Plus: IMF\u2019s Kristina Georgieva gets a reprieve.\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=THIS+MORNING%3A+New+real+estate+industry+regs+in+the+works%3F+Plus%3A+IMF%E2%80%99s+Kristina+Georgieva+gets+a+reprieve.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F12%2Fthis-morning-new-real-estate-industry-regs-in-the-works-plus-imfs-kristina-georgieva-gets-a-reprieve%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\/10\/12\/this-morning-new-real-estate-industry-regs-in-the-works-plus-imfs-kristina-georgieva-gets-a-reprieve\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556110\" class=\"content-area-description single-story post-556110 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-arab-investment-bank tag-efg-hermes tag-energy tag-enterpriseam tag-imf tag-iraq tag-kristalina-georgieva tag-ma-watch tag-oil-and-gas tag-opec tag-qatar tag-real-estate tag-sovereign-fund-of-egypt 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 hump day. We had crazy thunder <\/strong><strong>and lightning overnight<\/strong>, accompanied by light rain. There\u2019s still rumbling in all four corners of the capital city as we slide toward dispatch time, and the air outside is as thick as pea soup, with humidity at 85%.<\/p><p><strong>Our favourite weather app shows there\u2019s a chance of more thunder, lightning and light <\/strong><strong>rain until about 8am<\/strong>, after which we\u2019ll see sunny skies and a high of 34\u00b0C.<\/p><p><strong>It\u2019s probably a good idea to throw your work \/ school \/ whatever address into Maps this <\/strong><strong>morning <\/strong>and see whether you want to leave a few minutes early to beat traffic.<\/p><p><strong>BIG NEWS HERE AT HOME- EFG Hermes has met all regulatory conditions necessary <\/strong><strong>to complete its<\/strong><strong> acquisition of a 76% stake in the Arab Investment Bank<\/strong> in partnership with the Sovereign Fund of Egypt (SFE), according to a <a href=\"https:\/\/ent.news\/2021\/10\/Efg-hermes-statement.pdf\">statement (pdf)<\/a> from EFG. The next step: EFG and the SFE will take possession of newly issued capital increase shares in AIB. This comes shortly after the two institutions received <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21edd1c9-3b85-4d0d-a11c-1bf285d548c6\">cabinet approval<\/a> for the transaction. The two institutions will acquire the shares via an EGP 3.8 bn capital increase, which will raise the bank\u2019s capital to EGP 5 bn and give EFG a 51% stake and SFE 25% once executed.<\/p><p><strong>Are new real estate industry regulations on the works? <\/strong>Prime Minister Moustafa Madbouly and top officials including the housing minister held a meeting with several unnamed real estate investors and developers yesterday to discuss potential new regulations for the sector. While there was nothing concrete on what those regs would entail, <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/246248974212197?__cft__%5B0%5D=AZXAkuw5vXvoMgW5-Ly5HeMc92GG5JkCTJsJi11dcjObcnF9mmN6Y2fDYm_UMed15tw49orGY5Rqwy8OpFJlSWWkUBFE2iBnAmWTsEnTYTtqD2Mw-3T5Coe2DgVfJrE4bfYUlVTfuVALJilMDWj53DYT&amp;__tn__=%2CO%2CP-R\">a cabinet statement<\/a> noted they could cover what developers can and can\u2019t do with so-called maintenance payments collected from homebuyers and nationwide standards on payment plans and construction timelines, among other things we\u2019re yet to hear more on. Housing ministry officials had last month <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d81cfde5-7e68-4f32-a812-ae3c41906aa5\">floated the prospect<\/a> that developers could soon come under new regulations designed to mitigate risk in the sector, while parliamentarians are currently considering <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a14cf09e-0dc4-47de-8b20-3873c77ed08b\">sweeping regulatory changes<\/a> to the sector.<\/p><p><strong>HAPPENING TODAY-<\/strong><\/p><p><strong>The IMF\u2019s updated World Economic Outlook is set to be released this morning<\/strong> as the IMF \/ World Bank Fall Meetings enter their second day. You can find the report on <a href=\"https:\/\/www.imf.org\/en\/Publications\/WEO\/Issues\/2021\/10\/12\/world-economic-outlook-october-2021\">its landing page here<\/a> once it\u2019s released at c. 3pm CLT.<\/p><p><strong>A little bit of foreshadowing? Goldman Sachs has cut its forecast for US growth in 2021 <\/strong><strong>and 2022<\/strong>, \u201cblaming a delayed recovery in consumer spending.\u201d The analysts \u201cnow expect growth of 5.6% on an annual basis in 2021 versus their previous estimate of 5.7%, and 4% next year, down from 4.4%,\u201d <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-10-10\/goldman-cuts-u-s-growth-forecasts-for-2021-and-2022-on-consumer?sref=mmeFTDW1\">Bloomberg<\/a> reports.<\/p><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>IT\u2019S A BIG DAY FOR- Embattled IMF director Kristalina Georgieva, who now looks set to serve out her term in office <\/strong>after the IMF\u2019s executive board issued a <a href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2021\/10\/12\/pr21297-statement-by-imf-exec-board-on-its-review-on-investigation-of-wb-doing-business-2018-report\">lengthy statement that says it has \u201cfull confidence\u201d in Georgieva\u2019s \u201c<\/a><a href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2021\/10\/12\/pr21297-statement-by-imf-exec-board-on-its-review-on-investigation-of-wb-doing-business-2018-report\">leadership<\/a> and ability to continue to effectively carry out her duties. The board trusts in the managing director\u2019s commitment to maintaining the highest standards of governance and integrity in the IMF,\u201d it added.<\/p><p><strong>The background: Georgieva has been being dogged by allegations she pressured staff to fudge data<\/strong> and boost China\u2019s ranking in the now-defunct Doing Business report. Leading European members of the board were pushing for Georgieva to finish her full term in office, while the US and Japan are apparently leading a faction of countries that want her tenure cut short. <strong>Her five-year appointment would normally expire in fall 2024. <\/strong><a href=\"https:\/\/www.reuters.com\/business\/imf-board-resume-debate-over-georgievas-future-later-monday-2021-10-11\/\">Reuters<\/a> has more on the story.<\/p><hr class=\"grey-line\"><p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>THE BIG STORY ABROAD- It\u2019s the energy crisis<\/strong>, which dominates headlines in the global business press and beyond this morning.<\/p><p><strong>US crude hit a fresh seven-year high (breaking the USD 80 \/ barrel mark) and Brent, the <\/strong><strong>international benchmark, looks set to hit USD 85 <\/strong>even as there are signs that consumption is dropping because of rising prices. The price of oil is up more than 16% since the start of September, driven by global economic growth, a shortage of natural gas, and careful management by OPEC+.<\/p><p><strong>The story leads the front pages <\/strong>of the <a href=\"https:\/\/www.ft.com\/content\/fbd93abc-beae-49b1-a9dc-b648aaccdb55\">Financial Times<\/a>, the <a href=\"https:\/\/www.wsj.com\/articles\/oil-price-jumps-above-80-and-natural-gas-races-higher-turbocharged-by-supply-shortages-11633943832?mod=hp_lead_pos1\">WSJ<\/a> and <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-10-10\/oil-trades-near-80-as-global-power-crisis-set-to-boost-demand?sref=mmeFTDW1\">Bloomberg<\/a>.<\/p><p><strong>The natural gas shortage and rising prices are hitting industrial and household <\/strong><strong>consumers in Europe<\/strong>, where natural gas consumption is now 12% lower than before the pandemic, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-10-11\/eu-industry-starts-to-cut-gas-demand-amid-soaring-prices?srnd=premium-europe&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports. This comes as falling temperatures are about to start driving fresh demand.<\/p><p><strong>Supply to Europe is continuing to get worse,<\/strong> as Algeria yesterday officially announced it will no longer be pumping gas into Spain via a pipeline that cuts through Morocco due to long standing political tensions, and will instead ship LNG on board vessels, Algeria\u2019s <a href=\"https:\/\/www.aps.dz\/ar\/economie\/113767-2021-10-10-23-19-27\">official press agency<\/a> said.<\/p><p><strong>The world\u2019s largest natgas exporter, Qatar, also says it can\u2019t do anything about the <\/strong><strong>record prices and has no supplies left for export,<\/strong> even as steelmakers in Britain and Spain and large factories in China say they\u2019re quickly running out of energy, <a href=\"https:\/\/www.reuters.com\/business\/energy\/qatar-powerless-ease-global-energy-crisis-2021-10-11\/\">Reuters<\/a> reported yesterday.<\/p><p><strong>The shortage of natural gas and rising oil prices are not going to be good for the <\/strong><strong>environment: <\/strong>India said over the weekend that it has locked in plenty of coal to fire its power plants, while <strong>coal futures in China have hit an all-time high <\/strong><strong>as severe floods compounded the country\u2019s energy crisis<\/strong>, the <a href=\"https:\/\/www.ft.com\/content\/01740d2e-4013-4781-930a-6cb62c8248dc\">FT<\/a> reports.<\/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><strong>SIGN OF THE TIMES- JP Morgan\u2019s Jamie Dimon continues to wage jihad against BTC<\/strong>, blasting cryptocurrencies as \u201c<a href=\"https:\/\/www.reuters.com\/business\/jpmorgans-dimon-blasts-bitcoin-worthless-due-regulation-2021-10-11\/\">worthless<\/a>\u201d and saying the burgeoning industry will inevitably be regulated by governments.<\/p><p><strong>***CATCH UP QUICK<\/strong> with the top stories from yesterday\u2019s edition of EnterprisePM:<\/p><ul>\n<li><strong>Pioneers Holding is now Aspire Capital Holding: <\/strong>The EGX Listing Committee approved Pioneer Holding\u2019s rebranding to Aspire Holding, after splitting into a real estate investment arm and another that will house its manufacturing investments.<\/li>\n<li><strong>Supply chain woes and the energy crisis are still top-of-mind in the global press<\/strong>, with aluminum prices soaring and shipping delays leaving US shoppers without Halloween decorations.<\/li>\n<li><strong>Playtime\u2019s over? <\/strong>In the wake of China\u2019s new restrictions on video game play for minors, we take a look at how the rise of gaming disorders is affecting players and the industry.<\/li>\n<\/ul><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Our next long weekend is coming up:<\/strong> \u200b\u200b\u200b\u200bThe Prophet Muhammad\u2019s birthday falls on Monday, 18 October. We expect a three-day weekend starting Thursday, 21 October. Look for confirmation from the cabinet toward the end of the week.<\/p><p><strong>Conference season ratchets up this month<\/strong>, with a number of exhibitions and business events here and throughout the region taking place this week, including:<\/p><ul>\n<li><strong>The <\/strong><strong><a href=\"https:\/\/bit.ly\/3uCd8zg\">Turathna Exhibition<\/a><\/strong> at the Egypt International Exhibition Center, Cairo, which will run until Friday, 15 October.<\/li>\n<li><strong>The International Conference on Climate Change in the Eastern Mediterranean and the Middle East <\/strong>kicks off in Nicosia this Wednesday. The conference brings together 65 of leading policymakers, scientists and diplomats from Egypt, Israel, Jordan, Iraq and Greece <a href=\"https:\/\/apnews.com\/article\/climate-change-science-business-cyprus-desertification-453718c66173fcd6ba693f622e9f7770\">to advocate<\/a> for a move away from fossils toward renewables in the region. You can check out its <a href=\"https:\/\/climatechange2021.org\/\">website here<\/a>.<sup><\/sup><\/li>\n<li><strong>Further down the road: <\/strong>The Middle East Angel Investment Network is hosting its <a href=\"http:\/\/mainmena.com\/conference\/4\">Angel Oasis<\/a> in El Gouna on 27-29 October, with separate pricing for in-person and virtual attendance.<\/li>\n<\/ul><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/INFINITY-Top-banner-EN-1600x675-v2-02.png?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p><strong>In today\u2019s issue: <\/strong>Part II of our look into the new ESG reporting requirements is out today with a poll that included IR professionals from Edita, Cleopatra Hospital, and ElSewedy Electric. The three EGX-listed firms, which already issue sustainability reports, gave us the rundown on what it takes to begin implementing the new requirements, what challenges they faced, and whether it helped boost investments from foreign institutions.<\/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\/arab-investment-bank\/\">Arab Investment Bank<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iraq\/\">Iraq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kristalina-georgieva\/\">Kristalina Georgieva<\/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\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/opec\/\">OPEC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/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                            <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=\"556111\" 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=\"556111\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/12\/556111\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556111\" class=\"content-area-description single-story post-556111 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:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/Enterprise-Visual-Somabay-Golf-26-sep-21-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556112\" 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=\"556112\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/12\/e-finance-ups-its-share-offering-to-26-1\/\">\r\n                            e-Finance ups its share offering to 26.1%                        <\/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\/10\/12\/e-finance-ups-its-share-offering-to-26-1\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/127.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/127.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556112\" class=\"content-area-description single-story post-556112 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-capital-markets tag-e-finance tag-egx tag-enterpriseam tag-investment-watch tag-ipo-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>State-owned fintech firm e-Finance raised the size of its offering to <\/strong><strong>26.1% from 16.1%,<\/strong> the Financial Regulatory Authority (FRA) said in a <a href=\"https:\/\/ent.news\/2021\/10\/E-finance.pdf\">statement (pdf)<\/a>. The company raised the size of offering to institutional investors to 23.5% after demand amid very strong demand from fund and portfolio managers, one of the IPO quarterbacks told <a href=\"https:\/\/www.reuters.com\/article\/idUSC6N2QK017\">Reuters<\/a>. The company will now offer 417.8 mn shares instead of 257.8 mn originally. The subscription period for the institutional offering ended yesterday.<\/p>\n<p><strong>Meanwhile, t<\/strong><strong>he <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/981b7143-fd5f-4c5d-af04-adc6370c48bb\">subscription period<\/a><\/strong><strong> for the retail offering is ongoing <\/strong>and will continue to run until the close of the trading session on Sunday, 17 October. By our math, the size of the retail offering also appears to have been increased to 2.6% from the original allocation of 1.6%.<\/p>\n<p><strong>The company is expected to announce today how it will price the offering.<\/strong> At the EGP 12.50-13.98 range outlined in its price range release, the IPO will be one of the largest the country has seen in recent years: It could be worth as much as EGP 3.6 bn and value e-finance at up to EGP 22.37 bn.<\/p>\n<p><strong>Advisors:<\/strong> Renaissance Capital, CI Capital and Al Ahly Pharos are quarterbacking the transaction as co-lead managers. NI Capital is acting as the IPO advisor for the listing. Zaki Hashem & Partners has been appointed as counsel to e-Finance, while Norton Rose Fulbright is acting as US counsel to the co-lead managers. Inktank is the investor relations advisor.<\/p>\n<p><strong>IN OTHER IPO NEWS- Another state-owned company could offer shares on the EGX <\/strong><strong>before the year is out<\/strong>, Planning Minister Hala El Said said, according to this morning\u2019s <a href=\"https:\/\/ent.news\/2021\/10\/Tuesday-12-Oct-2021-issue-2670.pdf\">Al<\/a><a href=\"https:\/\/ent.news\/2021\/10\/Tuesday-12-Oct-2021-issue-2670.pdf\">Borsa print edition (pdf)<\/a>. El Said declined to name the company, which would go to market as part of the state privatization program. Public Enterprise Minister Hisham Tawfik <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b90b5254-2ce1-47f0-b1a9-f1082077ef28\">recently said<\/a> that e-Finance is the first among five state-owned companies currently prepping up to hit the bourse before the end of the state\u2019s fiscal year next June.<\/p>\n<p><strong>Who are the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb7a605f-1344-4470-9dad-78f4cb493d20\">potential<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb7a605f-1344-4470-9dad-78f4cb493d20\">candidates<\/a><\/strong><strong>? <\/strong>El Mahalla Spinning and Weaving Company\u2019s Ghazl El Mahalla sports club was previously said to be lined up for a state-led IPO to list around two-thirds of its shares on the EGX as early as this month. Banque du Caire had planned to debut 20-30% of its shares on the EGX in April 2020 but shelved plans due to the onset of the pandemic.<\/p>\n<p><strong>It may not even be an IPO: <\/strong>Already-listed Alexandria Containers, Abu Qir Fertilizers, and Sidi Kerir Petrochemicals have also pushed back sales of additional stakes in the companies.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/investment-watch\/\">investment watch<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556114\" 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=\"556114\">\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\/10\/12\/egypts-external-debt-is-still-growing-thank-you-covid-but-at-a-slower-pace-than-before\/\">\r\n                            Egypt\u2019s external debt is still growing (thank you, covid), but at a slower pace than before                        <\/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\/10\/12\/egypts-external-debt-is-still-growing-thank-you-covid-but-at-a-slower-pace-than-before\/\" 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\/10\/12\/egypts-external-debt-is-still-growing-thank-you-covid-but-at-a-slower-pace-than-before\/')\">\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\/10\/12\/egypts-external-debt-is-still-growing-thank-you-covid-but-at-a-slower-pace-than-before\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt\u2019s external debt is still growing (thank you, covid), but at a slower pace than before&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/12\/egypts-external-debt-is-still-growing-thank-you-covid-but-at-a-slower-pace-than-before\/\">\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\/10\/12\/egypts-external-debt-is-still-growing-thank-you-covid-but-at-a-slower-pace-than-before\/&title=Egypt\u2019s external debt is still growing (thank you, covid), but at a slower pace than before\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt%E2%80%99s+external+debt+is+still+growing+%28thank+you%2C+covid%29%2C+but+at+a+slower+pace+than+before+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F12%2Fegypts-external-debt-is-still-growing-thank-you-covid-but-at-a-slower-pace-than-before%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\/10\/12\/egypts-external-debt-is-still-growing-thank-you-covid-but-at-a-slower-pace-than-before\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556114\" class=\"content-area-description single-story post-556114 post type-post status-publish format-standard hentry category-debt-watch tag-debt tag-debt-watch tag-enterpriseam tag-fdi tag-sukuk tag-world-bank 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>Egypt\u2019s debt is growing, but the pace of growth slowing, says the WB: <\/strong>Egypt\u2019s external debt grew 14.3% y-o-y to USD 131.6 bn in 2020, up from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7d545950-cd94-47fb-8b5e-7be1aa61ce34\">USD 115.1 bn in 2019<\/a>, according to the World Bank\u2019s <a href=\"https:\/\/openknowledge.worldbank.org\/bitstream\/handle\/10986\/36289\/9781464818004.pdf?sequence=2&isAllowed=y\">International Debt Statistics 2022<\/a> report, which came out today. That said, the data shows a marginal slowdown in the annual growth of Egypt\u2019s external debt, continuing a years-long downward trend in the pace of acceleration. External debt was up 14.9% y-o-y in 2019, after growing 18.3% y-o-y in 2018, and 22.5% y-o-y in 2017.<\/p>\n<p><strong>It was about covid, stupid:<\/strong> While IMF loans to Egypt were up 55% y-o-y in 2020 to hit USD 20.4 bn, according to the report, these were largely due to emergency pandemic loans. The report refers to the<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c23ccc2-49f3-4ec3-8a96-2b792743862c\">USD 2.8 bn rapid financing instrument (RFI)<\/a>, disbursed in May 2020 to help Egypt support its balance of payments amid the pandemic. We also received USD 3.6 bn in 2020 of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4b88b68-45c9-4f66-bbba-1e8999ee8f3f\">one-year USD 5.2 bn standby loan<\/a> approved by the IMF. As for eurobonds, the government tapped the bond market with a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/925263b4-1bc7-4df7-bcdc-3335f83063f0\">USD 5 bn eurobond<\/a> issuance in May last year. And then there were all the other forms of loans secured by both the government and the private sector to sustain us during the pandemic year, including <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/322b1f8e-fc8d-442f-957c-c66632dfe443\">fiscal assistance loans, development loans, sukuk, green bonds and securitization<\/a>.<\/p>\n<p><strong>FDI also suffered, but but what did you expect of a global pandemic and subsequent meltdown? <\/strong>Fresh FDI into Egypt tumbled 35% to USD 5.9 bn in 2020, down from USD 9 bn in 2019 \u2014 its lowest recorded level since 2014. That comes \u201cdespite concerted efforts to promote diversification of FDI\u201d in Egypt, including attempts to revive the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e0eb3879-52db-4332-80b3-de0511b70df4\">long-dormant USD 16 bn Saudi-Egypt investment fund<\/a>, according to the report. It added that Egyptian FDI remains highly concentrated in oil and gas.<\/p>\n<p><strong>Our debt and FDI levels, however, were worse than the MENA average: <\/strong>External debt across the MENA region increased 8.5% to USD 370 bn in 2020, up from USD 341 bn, while Meanwhile, FDI inflows to MENA fell 16 percent on average to USD 14.3 bn, down from USD 16.9 bn a year before, amid a regional slowdown in investment.<\/p>\n<p><strong>Low and middle-income countries were forced to dig their debt hole deeper: <\/strong>External debt among poorer nations increased 5.3% to USD 8.7 tn in 2020, as they tried to head off the pandemic with massive emergency stimulus measures. The average increase in external debt among low and middle-income countries excluding China stood at 3.4%. Elevated levels of debt put emerging-market economies in a risky position, according to World Bank Group President David Malpass. \u201cWe need a comprehensive approach to the debt problem, including debt reduction, swifter restructuring and improved transparency,\u201d he said <a href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2021\/10\/11\/low-income-country-debt-rises-to-record-860-billion-in-2020\">in a press release<\/a> accompanying the annual report.<\/p>\n<p><strong>You can find the report <\/strong>on the landing page <a href=\"https:\/\/openknowledge.worldbank.org\/handle\/10986\/36289\">here<\/a>or download the full 207-page report <a href=\"https:\/\/ent.news\/2021\/10\/9781464818004.pdf\">here (pdf)<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><strong>IN OTHER DEBT NEWS-<\/strong> <strong>Local sukuk issuances in 2021 are forecast to reach EGP 7.5 <\/strong><strong>bn by the end of the year<\/strong>, head of the Financial Regulatory Authority\u2019s financial instruments department Sayed Abdel Fadeel told <a href=\"https:\/\/alborsaanews.com\/2021\/10\/11\/1470386\">Al Borsa<\/a>. According to Abdel Fadeel, EGP 5 bn-worth of issuances are expected to hit the market before 2022 rolls around, bringing the total for this year up three-fold. Only one company, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b389205-5282-4d47-b93a-13d8a30d62ff\">Contact Financial<\/a>, has issued sharia-compliant debt since the start of the year. Planned offerings we know of include an EGP 5.5 bn sale for Palm Hills Development, an EGP 3 bn issuance for Hassan Allam Properties, and an EGP 1.1 bn offering for Amer Group. Wadi Degla Developments over the summer also revealed plans for a sukuk issuance worth some <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/214a971d-d6bf-4aff-9645-2e61b7391838\">EGP 2 bn<\/a> through Contact.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/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\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sukuk\/\">sukuk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/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=\"556115\" 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=\"556115\">\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\/10\/12\/pioneers-holding-is-now-aspire\/\">\r\n                            Pioneers Holding is now Aspire                        <\/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\/10\/12\/pioneers-holding-is-now-aspire\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The move follows Pioneer splitting into two arms: <strong>A real estate investment arm<\/strong> now called Pioneers Properties and Gadwa Industrial Development, which will house its <strong>manufacturing investments<\/strong>. The parent company will remain the <strong>financial services arm<\/strong>. Shares in both subsidiaries started trading on the EGX30 yesterday, according to separate statements <a href=\"https:\/\/ent.news\/2021\/10\/Pioneers-Properties.pdf\">here<\/a> and <a href=\"https:\/\/ent.news\/2021\/10\/Gadwa-Industrial-Development.pdf\">here<\/a> (pdfs).<\/p>\n<p><strong>What the subsidiaries look like post-demerger: <\/strong>Hit the links for the rundown on each company\u2019s authorized and issued capital as well as share structure post-transaction.<\/p>\n<p><strong>How the market digested the news: <\/strong>Aspire Capital saw its stock price surge 98.1% in yesterday\u2019s trading to EGP 0.42, while Pioneers Properties fell 18.1% to EGP 3.27 and Gadwa fell 2.8% to EGP 1.66.<\/p>\n<p><strong>Management: <\/strong>Waleed Zaki, Aspire\u2019s chairman, is now the managing director and chairman of Pioneers Properties and non-executive chairman of Gadwa, Zaki told <a href=\"https:\/\/bit.ly\/3FzTIQx\">Al Mal<\/a>. Both companies\u2019 boards have also been formed, Zaki said.<\/p>\n<p><strong>Background:<\/strong> The demerger has been in the works since 2019, when Pioneers Holding <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/02\/pioneers-holding-to-make-five-mtos-split-into-three-companies\/\">announced<\/a>its plans to restructure and split into three companies. The company\u2019s shareholders approved plans to split the firm last <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7956da4f-7e0f-408c-8725-8af55fb61139\">July<\/a>. The company hopes the move will create value for shareholders by making its various activities more easily understood by investors.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/demerger\/\">demerger<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pioneers-holding\/\">Pioneers Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pioneers-properties\/\">Pioneers Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556117\" 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=\"556117\">\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\">Coffee With<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/12\/coffee-with-basil-moftah-general-partner-at-global-ventures\/\">\r\n                            Coffee with Basil Moftah, general partner at Global Ventures                        <\/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\/10\/12\/coffee-with-basil-moftah-general-partner-at-global-ventures\/\" 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\/10\/12\/coffee-with-basil-moftah-general-partner-at-global-ventures\/')\">\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\/10\/12\/coffee-with-basil-moftah-general-partner-at-global-ventures\/\">\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=Coffee with Basil Moftah, general partner at Global Ventures&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/12\/coffee-with-basil-moftah-general-partner-at-global-ventures\/\">\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\/10\/12\/coffee-with-basil-moftah-general-partner-at-global-ventures\/&title=Coffee with Basil Moftah, general partner at Global Ventures\">\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=Coffee+with+Basil+Moftah%2C+general+partner+at+Global+Ventures+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F12%2Fcoffee-with-basil-moftah-general-partner-at-global-ventures%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\/10\/12\/coffee-with-basil-moftah-general-partner-at-global-ventures\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/131.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"556118\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/12\/coffee-with-basil-moftah-general-partner-at-global-ventures\/131-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/131.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"131.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/131.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/131.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556117\" class=\"content-area-description single-story post-556117 post type-post status-publish format-standard has-post-thumbnail hentry category-agreements-and-mous-totalling-eur-67-7-bn-inked-at-egypt-eu-investment-conference tag-basil-moftah tag-coffee-with tag-enterpriseam tag-fintech tag-global-ventures tag-investment-watch tag-spacs tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-04\" class=\"content-anchor\"><\/a> <strong>Enterprise talks to <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e62a1b1-4891-4f8e-995b-383157d9f0a1\">Basil Moftah<\/a><\/strong><strong>, general partner at Global Ventures<\/strong><strong>: <\/strong>Dubai-based VC fund <a href=\"https:\/\/www.global.vc\/\">Global Ventures<\/a> invests in technology startups across emerging markets. Being more of a B2B than a B2C investor, the fund is most excited about foodtech, fintech, B2B commerce, healthtech and B2B edtech, among others. Its portfolio in Egypt includes stakes in <a href=\"https:\/\/elmenus.com\/\">Elmenus<\/a>, <a href=\"https:\/\/minlyapp.com\/\">Minly<\/a>, <a href=\"https:\/\/www.yodawy.com\/\">Yodawy<\/a> and <a href=\"https:\/\/thndr.app\/\">Thndr<\/a>, among others. The sector-agnostic fund\u2019s most recent local investment saw B2B e-commerce platform <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6e3e3191-230e-422e-a968-3a09c3f51e4f\">Cartona getting a USD 4.5 mn<\/a> pre-series A round.<\/p>\n<p><strong>We sat down with <\/strong><strong>Moftah<\/strong> to talk about the fund\u2019s local plans, Egypt\u2019s \u201cfintech moment,\u201d the rise of SPACs, startup growth metrics and exit strategies.<\/p>\n<p>Edited excerpts from our conversation:<\/p>\n<p><strong>Egypt will end up being one of Global Ventures\u2019 most substantial capital allocations this coming year.<\/strong> The firm is planning to invest USD 15 mn in Egypt from now until the end of 2021, and USD 20-30 mn in 2022, with a focus on B2B startups. And its physical presence here will also grow: Global Ventures' Egypt office will be its largest outside of the UAE by year-end, growing to 10-12 people by the end of 2021 after having been in Egypt for the past three years.<\/p>\n<p><strong>So far, it has made eight investments totaling USD 17 mn in Egyptian startups,<\/strong> such as Yodawy, Thndr, Minly and Elmenus. Collectively, it has led rounds of over USD 35 mn in Egypt, of which the biggest was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3e6ff686-8c64-4a78-b0d9-3377eba63ca5\">Paymob\u2019s USD 18 mn round<\/a>.<\/p>\n<p><strong>Egypt is clearly having its fintech moment. <\/strong>\u201cAs of July 2021, we found 109 fintech startups in Egypt alone. So in total, there must be a couple of hundred fintech startups in Egypt at this point,\u201d Moftah says. There is also a rising openness from banks, companies and regulators to rely on fintech for payments, salaries or salary loans, he adds.<\/p>\n<p>(<strong>Some context from Enterprise:<\/strong> In 2020, over USD 15 mn of VC funding in Egypt went to fintech startups, according to Magnitt\u2019s <a href=\"https:\/\/ent.news\/2021\/7\/Reports-and-Documents_262021000_ar_2020-Egypt-Venture-Investment-Report.pdf\">2020 Egypt Venture Investment Report<\/a>. As per our internal trackers, fintech startups have attracted investment of some USD 164.5 mn year-to-date. This includes <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b07d9131-549a-4e31-aba4-b39a6704f6ac\">MNT-Halan\u2019s blockbuster investment round of USD 120 mn<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3e6ff686-8c64-4a78-b0d9-3377eba63ca5\">Paymob\u2019s USD 18.5 mn<\/a> and <a href=\"https:\/\/enterprise.press\/stories\/2021\/09\/16\/fintech-startup-dopay-raises-usd-18-mn-in-series-a-round-53683\/\">Dopay\u2019s USD 18 mn<\/a> rounds.)<\/p>\n<p><strong>The fintech boom has legs, but investors need to tread cautiously when screening potential portfolio companies<\/strong>, Moftah suggests<strong>.<\/strong> The fear stems from two main issues: First, success attracts a lot of people who may not know what it entails to build a fintech startup, so the investor needs to be extra cautious to spot the entrepreneurs with real ideas and stamina, Moftah says. Second, dealing with people\u2019s money needs to be coupled with security and privacy standards. There is worry about how these startups manage security, privacy and the money itself. \u201cYou have to be cautious as an investor because you have a shared duty to have the company do its best to be well managed, and not be subject to fraud,\u201d he adds.<\/p>\n<p><strong>Investing is a bit like getting married:<\/strong> \u201cYou can date a lot and meet lots of different companies, but when you invest, you have to think about the things that matter in the long-term,\u201d Moftah says. These include the personality of the people involved in the business, such as founders and other investors. In the long-term, founders get influenced by other people on the cap table, so it is crucial to see \u201cwho they bring to the party.\u201d Other than that, the idea itself and its potential, the market size, the developed product and signs of real traction are high up on the priority list.<\/p>\n<p><strong>No copycat gene? It\u2019s too simplistic to say that local startups are copies of successful ventures abroad<\/strong>, he says. Implementing ideas from abroad in the local market requires a totally different technology, product and service, Moftah says. For example, Thndr is sometimes called the Robin Hood of Egypt. Robin Hood is for people to quick-trade or day-trade; Thndr is for people to save money and be part of economic growth.<\/p>\n<p><strong>It is about taking an idea and making it better and more relevant to a wider audience.<\/strong> \u201cThe premise to say that they\u2019re copycats does not do justice to how much work and effort an entrepreneur goes through to thoughtfully implement it locally,\u201d he explains. \u201cWhat is WEchat if it\u2019s not a copy of WhatsApp for China? But it is bigger and more important today and allows much more commerce to happen than on WhatsApp.\u201d<\/p>\n<p><strong>Valuations are important \u2014 but not at the top of the list of Global Ventures\u2019 selection criteria. <\/strong>\u201cIn spite of what people believe, valuation is the fourth or fifth priority for us. All valuations are high by definition, but what matters is whether I believe that this company can grow 10x once I put my money into it,\u201d he adds. That doesn\u2019t mean that valuation does not matter, but rather that there is a premium for quality entrepreneurs and long-term sustainable execution.<\/p>\n<p><strong>Post-investment, top line growth is the main metric for company growth.<\/strong> Global Ventures looks at double-digit, month-on-month growth, which at a minimum means the startup overall doubling every 8-12 months.<\/p>\n<p><strong>But being EBITDA-negative at the beginning is ok. <\/strong>\u201cAll startups are EBITDA-negative and they should stay that way for a while, because at this point, we are less interested in [a positive bottom line] than we are in increasing market share,\u201d Moftah tells us. Other key metrics include the number of users consuming the product, how much they spend on average, and whether they are increasing or decreasing. Soft metrics like how many likes the social media page generates could be lead indicators, but they are irrelevant.<\/p>\n<p><strong>While investment rounds have become larger in Egypt and MENA, they are still marginally smaller than the global average. <\/strong>We <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0c3b99bc-dc50-48af-9f1b-d9ffbbc8bc71\">previously reported<\/a> that the average transaction increased about 2x in 2020 to USD 2.38 mn per transaction, compared to USD 1.12 mn in 2019, excluding clear outliers. And rounds are growing: in 2021, we\u2019ve heard about <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/85f214d3-40dd-4236-b156-ddf241385e11\">Trella\u2019s USD 42 mn<\/a>, and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b07d9131-549a-4e31-aba4-b39a6704f6ac\">MNT-Halan\u2019s USD 120 mn round<\/a>. As companies mature, they need more capital to execute, but as a percentage of GDP, the amount of money going into MENA VC tech companies is still fractionally smaller than anywhere in the world, the GP says. \u201cThe US invests 0.7% of its GDP in VC funding. In MENA, the number stands at 0.5%. This shows the [potential], the gap and the lack of funding,\u201d he adds. Egypt\u2019s share of investment growth is the highest in the region. In terms of ranking, the UAE tops the region, with Egypt and Saudi Arabia neck-and-neck for second place.<\/p>\n<p><strong>Larger investment rounds are not a sign of more competition, but rather a growing interest of different types of investors in the sector. <\/strong>For instance, private equity is definitely trying to get in on tech, as the industry is growing to a size which has ideal entry points for them, Moftah says.<\/p>\n<p><strong>The Middle East and Egypt are far behind in IPO statistics, with strategic <\/strong><strong>exits<\/strong> <strong>trump<\/strong><strong>ing IPO scenarios. <\/strong>Globally, very few startups actually tap the stock market, as the majority (of those who survive) will see investors exit through a trade-sale. Excluding startups that fail, less than 3% of companies go on to IPO worldwide, and about 60-70% go through strategic trade sales, such as a pharmaceutical company buying a healthtech outfit, Moftah explains. The remaining are picked up by private equity players who consolidate a few startups together to create a bigger company.<\/p>\n<p><strong>Global Ventures does not actively plan IPO exits, but rather opts for strategic exits.<\/strong> \u201cFawry and SWVL have done it, but it\u2019s still a drop in the bucket compared to global standards. We plan for strategic exits where we try to look for competitors or companies trying to get into the sectors to buy the startup. We don\u2019t actively plan for IPOs because they are a very unlikely event,\u201d he says. In the end, the market \u2014 not the investors \u2014 dictates a startup\u2019s exit strategy. The final decision is up to the portfolio company and its management to decide to either sell or tap public markets.<\/p>\n<p><strong>Governance is the main challenge Egyptian startups face, just like in other emerging markets. <\/strong>Global Ventures spends a lot of time with companies on setting up their governance structure. \u201cThe understanding of it is not there. It is as much about control as it is about transparency, duties and responsibilities,\u201d Moftah tells us.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/basil-moftah\/\">Basil Moftah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/coffee-with\/\">Coffee With<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/global-ventures\/\">Global Ventures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/spacs\/\">SPACs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556119\" 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=\"556119\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/12\/556119\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556119\" class=\"content-area-description single-story post-556119 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 data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/Sodic-June-MV-Roller-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556120\" 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=\"556120\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/12\/education-diplomacy-and-football-on-the-airwaves-last-night\/\">\r\n                            Education, diplomacy, and football on the airwaves last night                        <\/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\/10\/12\/education-diplomacy-and-football-on-the-airwaves-last-night\/\" 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\/10\/12\/education-diplomacy-and-football-on-the-airwaves-last-night\/')\">\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\/10\/12\/education-diplomacy-and-football-on-the-airwaves-last-night\/\">\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=Education, diplomacy, and football on the airwaves last night&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/12\/education-diplomacy-and-football-on-the-airwaves-last-night\/\">\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\/10\/12\/education-diplomacy-and-football-on-the-airwaves-last-night\/&title=Education, diplomacy, and football on the airwaves last night\">\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=Education%2C+diplomacy%2C+and+football+on+the+airwaves+last+night+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F12%2Feducation-diplomacy-and-football-on-the-airwaves-last-night%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\/10\/12\/education-diplomacy-and-football-on-the-airwaves-last-night\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556120\" class=\"content-area-description single-story post-556120 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-diplomacy tag-education tag-enterpriseam tag-last-nights-talk-shows tag-schools wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was another mellow night on the airwaves, with education and diplomacy among the <\/strong><strong>highlights<\/strong>. Amr Adib again noted the lack of social distancing in and around schools as students return to classrooms (<a href=\"https:\/\/www.youtube.com\/watch?v=7LQIfLG_69s&ab_channel=%D8%A7%D9%84%D8%AD%D9%83%D8%A7%D9%8A%D8%A9\">watch, runtime: 1:43<\/a>). Education Minister Tarek Shawky told the El Hekaya host that Egypt faces a massive challenge to social distancing with the return of in person schooling during covid due to its large student body (<a href=\"https:\/\/www.youtube.com\/watch?v=Ilx2OtKd7WI&ab_channel=%D8%A7%D9%84%D8%AD%D9%83%D8%A7%D9%8A%D8%A9\">watch, runtime: 1:02<\/a>).<\/p>\n<p><strong>Al Hayah Al Youm\u2019s Lubna Assal took note of President Abdel Fattah El Sisi's arrival in Budapest<\/strong> to attend a summit with the Visegr\u00e1d Group, in which Egypt is participating for the second time (<a href=\"https:\/\/www.youtube.com\/watch?v=mhte-P80Xnk&ab_channel=AlHayahTVNetwork\">watch, runtime: 2:49<\/a>). We noted Egypt\u2019s participation in the summit in yesterday\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6126bde0-d771-42f4-8bb6-4f14934b71f5\">EnterprisePM<\/a>.<\/p>\n<p><strong>Egypt\u2019s 3-0 win against Libya in the World Cup qualifiers also got some airtime<\/strong>, with Kelma Akhira\u2019s Lamees El Hadidi speaking to retired footballer Hosni Abd Rabo, who dissected the team\u2019s winning strategy (<a href=\"https:\/\/www.youtube.com\/watch?v=-fk0Nlq5CJg\">watch, runtime 3:37<\/a>). Adib chatted with footballer turned manager Mido, who praised Pharaohs\u2019 newly appointed coach, Carlos Queiroz (<a href=\"https:\/\/www.youtube.com\/watch?v=7vqwQDS0Jvg\">watch, runtime 12:10<\/a>).<sup><\/sup><\/p>\n<p><strong>The mysterious<\/strong><strong> \u201c<\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0c6ee655-9c1a-4dda-b27f-26bc2949dedf\">Sahel Bridge microbus<\/a><\/strong><strong>\u201d seems to have taken a dive, after all<\/strong>. El Hadidi phoned El Watan editor-in-chief Samy Abdel Rady, who said there\u2019s video evidence of an unidentified \u201cwhite body\u201d falling off the Sahel bridge in Embaba on Sunday (<a href=\"https:\/\/www.youtube.com\/watch?v=e0WVNjQrrBY&ab_channel=ON\">watch, runtime: 5:28<\/a>). As of dispatch time, the vehicle was yet to be found.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/schools\/\">Schools<\/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=\"556121\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556122\" 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=\"556122\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/12\/dreamland-no-longer-has-beef-with-the-government-branded-cotton-exports-coming-soon\/\">\r\n                            Dreamland no longer has beef with the government + branded cotton exports coming soon                        <\/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\/10\/12\/dreamland-no-longer-has-beef-with-the-government-branded-cotton-exports-coming-soon\/\" 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\/10\/12\/dreamland-no-longer-has-beef-with-the-government-branded-cotton-exports-coming-soon\/')\">\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\/10\/12\/dreamland-no-longer-has-beef-with-the-government-branded-cotton-exports-coming-soon\/\">\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=Dreamland no longer has beef with the government + branded cotton exports coming soon&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/12\/dreamland-no-longer-has-beef-with-the-government-branded-cotton-exports-coming-soon\/\">\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\/10\/12\/dreamland-no-longer-has-beef-with-the-government-branded-cotton-exports-coming-soon\/&title=Dreamland no longer has beef with the government + branded cotton exports coming soon\">\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=Dreamland+no+longer+has+beef+with+the+government+%2B+branded+cotton+exports+coming+soon+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F12%2Fdreamland-no-longer-has-beef-with-the-government-branded-cotton-exports-coming-soon%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\/10\/12\/dreamland-no-longer-has-beef-with-the-government-branded-cotton-exports-coming-soon\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556122\" class=\"content-area-description single-story post-556122 post type-post status-publish format-standard hentry category-also-on-our-radar tag-agriculture tag-also-on-our-radar tag-bahgat-group tag-debt tag-dispute-watch tag-dreamland tag-enterpriseam tag-manufacturing tag-textiles wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Dreamland no longer has beef with state-owned banks: <\/strong>Conglomerate Bahgat Group\u2019s Dreamland Egypt has reached a settlement agreement with state-owned National Bank of Egypt and Banque Misr after years of lawsuits and arbitration proceedings between both sides that ended in the banks\u2019 favor, according to a <a href=\"https:\/\/ent.news\/2021\/10\/PR-Bahgat-Group-Settlement-7-9-2021.doc.pdf\">press release (pdf)<\/a>. The settlement, which relieves Dreamland of its large debt pile owed to both lenders, was reached after the company transferred ownership of 4 mn sqm of land in \u201cpremier locations\u201d to a real estate investment arm owned by NBE and Banque Misr, the release noted.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Egyptian cotton exports and exports of products made by state-owned Cotton and <\/strong><strong>Textiles Holding Company<\/strong> will soon be labelled with <strong>a unique Egyptian brand<\/strong> <a href=\"https:\/\/alborsaanews.com\/2021\/10\/11\/1470341\">set to be announced<\/a> by the Public Enterprises Ministry next January.<\/li>\n<li><strong>The Suez Canal Authority was ranked second on Forbes\u2019 <\/strong><strong><a href=\"https:\/\/www.forbesmiddleeast.com\/lists\/10-biggest-logistics-companies-in-mena\/\">10 Biggest Logistics<\/a><\/strong><strong><a href=\"https:\/\/www.forbesmiddleeast.com\/lists\/10-biggest-logistics-companies-in-mena\/\">Companies in MENA<\/a><\/strong>, trailing behind Dubai\u2019s <a href=\"https:\/\/www.forbesmiddleeast.com\/lists\/10-biggest-logistics-companies-in-mena\/dp-world\/\">DP World<\/a>, which came in first place.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bahgat-group\/\">Bahgat Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dispute-watch\/\">dispute watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dreamland\/\">Dreamland<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/textiles\/\">textiles<\/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=\"556123\" 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=\"556123\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/12\/were-in-the-middle-of-the-fourth-wave-of-covid-19-tag-el-din\/\">\r\n                            We\u2019re in the middle of the fourth wave of covid-19 \u2013Tag El Din                        <\/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\/10\/12\/were-in-the-middle-of-the-fourth-wave-of-covid-19-tag-el-din\/\" 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\/10\/12\/were-in-the-middle-of-the-fourth-wave-of-covid-19-tag-el-din\/')\">\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\/10\/12\/were-in-the-middle-of-the-fourth-wave-of-covid-19-tag-el-din\/\">\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=We\u2019re in the middle of the fourth wave of covid-19 \u2013Tag El Din&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/12\/were-in-the-middle-of-the-fourth-wave-of-covid-19-tag-el-din\/\">\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\/10\/12\/were-in-the-middle-of-the-fourth-wave-of-covid-19-tag-el-din\/&title=We\u2019re in the middle of the fourth wave of covid-19 \u2013Tag El Din\">\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=We%E2%80%99re+in+the+middle+of+the+fourth+wave+of+covid-19+%E2%80%93Tag+El+Din+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F12%2Fwere-in-the-middle-of-the-fourth-wave-of-covid-19-tag-el-din%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\/10\/12\/were-in-the-middle-of-the-fourth-wave-of-covid-19-tag-el-din\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556123\" class=\"content-area-description single-story post-556123 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/photo\/?fbid=180810100896879&set=a.113299807647909\">reported<\/a><\/strong> <strong>846 new covid-19 infections yesterday<\/strong>, up from 837 the day before. Egypt has now disclosed a total of 313,256 confirmed cases of covid-19. The ministry also reported 31 new deaths, bringing the country\u2019s total death toll to 17,726.<\/p>\n<p><strong>Cases have been on an upward trend in recent days, <\/strong>presidential health advisor Mohamed Awad Tag El Din said on the airwaves last night (<a href=\"https:\/\/www.youtube.com\/watch?v=zjvn0rv931A&ab_channel=AlHayahTVNetwork\">watch, runtime: 4:40<\/a>). We\u2019re currently in the middle of a fourth wave which has yet to reach its peak, he added.<\/p>\n<p><strong>Pregnant women and women who\u2019ve recently given birth can safely get vaccinated,<\/strong> Tag El Din separately said (<a href=\"https:\/\/www.facebook.com\/AlHayah1TV\/videos\/563059658248399\/?t=3\">watch, runtime: 4:27<\/a>). Some types of vaccines, which Tag El Din didn\u2019t name, might however be risky.<\/p>\n<p><strong>Three arrested <\/strong><strong>in investigation over dumped covid jabs<\/strong><strong>: <\/strong>The Prosecutor General has ordered the arrest of three people as part of the investigation into the dumping of some 5k packages of unused Covid-19 vaccines along the banks of an irrigation canal in Minya, according to a <a href=\"https:\/\/www.facebook.com\/photo?fbid=402658517889677&set=pcb.402658771222985\">statement<\/a> on Sunday.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556124\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-6hy7jkb\" data-v=\"4\" data-block-id=\"6hy7jkb\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-6hy7jkb-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-6hy7jkb-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            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<span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-l0v9xl9\" data-v=\"4\" data-block-id=\"l0v9xl9\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-l0v9xl9-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-l0v9xl9-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-isx2hz6\" data-v=\"4\" data-block-id=\"isx2hz6\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-isx2hz6-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-isx2hz6-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 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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=\"556125\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/12\/acwa-opens-strong-on-tadawul-share-price-skyrockets-to-upper-limit\/\">\r\n                            ACWA opens strong on Tadawul, share price skyrockets to upper limit                        <\/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 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<\/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\/10\/12\/acwa-opens-strong-on-tadawul-share-price-skyrockets-to-upper-limit\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556125\" class=\"content-area-description single-story post-556125 post type-post status-publish format-standard hentry category-planet-finance tag-aramco tag-china tag-enterpriseam tag-evergrande tag-financial-markets tag-planet-finance 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>It was a fast <\/strong><strong>start<\/strong><strong> for ACWA Power on the Tadawul<\/strong>, with its <a href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/tadawul\/market-participants\/issuers\/issuers-directory\/company-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8zi_Tx8nD0MLIy83V1DjA0czVx8nYP8PI0MDAz0I4EKzBEKDEJDLYEKjJ0DA11MjQzcTfXDyzJTy_XDCSkryE4yBQA8k2I6\/?companySymbol=2082\">share price<\/a> shooting up its 30% limit to SAR 72.80 within ten minutes of the company\u2019s debut yesterday. The price stayed there until the closing bell. ACWA\u2019s debut comes as the Gulf appears to be beckoning a so-called \u201c<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-09-30\/saudi-internet-services-firm-surges-on-debut-amid-gulf-ipo-rush?sref=mmeFTDW1\">IPO rush<\/a>\u201d thanks to high liquidity in the region and skyrocketing oil prices, which together have pushed Saudi\u2019s main exchange up 33% YTD.<\/p><p><strong>MORE FROM ACWA-<\/strong> The energy giant is expected to finalize in 1Q2022 USD bns in financing for a green hydrogen JV at megacity Neom, the company\u2019s CEO told <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/neom-jv-secure-billions-financing-early-2022-acwa-ceo-says-2021-10-11\/\">Reuters<\/a>.<\/p><p><strong>And speaking of Saudi,<\/strong> <strong>MbS has announced a plan to set up special economic zones,<\/strong> <strong>revamp regulations, and offer new incentives<\/strong> as part of a bid to boost FDI and sway multinationals to base their regional HQs in the kingdom. State-owned <a href=\"https:\/\/www.spa.gov.sa\/viewfullstory.php?lang=ar&amp;newsid=2294437\">Saudi Press Agency<\/a> has the story.<\/p><p><strong>BTC has quietly gained 30% so far into the month,<\/strong> rising above USD 57k apiece after having rallied to nearly USD 57.8k mid-day, its highest level since May. Expectations seem to be pointing to an imminent all-time high over the coming weeks, according to <a href=\"https:\/\/www.cnbc.com\/2021\/10\/11\/bitcoin-rises-to-the-highest-since-may-is-now-up-30percent-in-october.html\">CNBC<\/a>.<\/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>10714.78<\/p>\n<\/td>\n<td>\n<p>+0.5% (YTD: -1.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>11,512.11<\/p>\n<\/td>\n<td>\n<p>-0.5% (YTD: 32.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>7,782.54<\/p>\n<\/td>\n<td>\n<p>+0.7% (YTD: 54.3%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,770.08<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: 11.2%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,378.08<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: 16.6%)<\/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>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,146.85<\/p>\n<\/td>\n<td>\n<p>+0.7% (YTD: 10.6%)<\/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 83.59<\/p>\n<\/td>\n<td>\n<p>+1.5%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 5.39<\/p>\n<\/td>\n<td>\n<p>-3%<\/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 1,755.20<\/p>\n<\/td>\n<td>\n<p>-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>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 56,774.41<\/p>\n<\/td>\n<td>\n<p>+3.3% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 0.5% at today\u2019s close<\/strong> on turnover of EGP 1.18 bn (23.5% below the 90-day average). Foreign investors were net buyers. The index is down 1.2% YTD.<\/p><p><strong>In the green: <\/strong>Aspire Capital (+98.1%), ElSewedy Electric (+1.9%) and Credit Agricole Egypt (+1.6%).<\/p><p><strong>In the red:<\/strong> Pioneers Properties (-18.1%), Gadwa Industrial Development (-2.8%) and Raya Holding (-1.9%)<\/p><p><strong>Asian benchmarks are solidly in the red this morning <\/strong>and futures suggest Wall Street and much of Europe will follow suit later today. The performance comes after US shares were hit with a <a href=\"https:\/\/www.cnbc.com\/2021\/10\/10\/stock-market-futures-open-to-close-news.html\">wave of selling yesterday<\/a> to start the week.<\/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\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evergrande\/\">Evergrande<\/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\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556126\" 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=\"556126\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/12\/gerd-negotiations-at-standstill-irrigation-minister\/\">\r\n                            GERD negotiations at standstill - Irrigation Minister                        <\/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\/10\/12\/gerd-negotiations-at-standstill-irrigation-minister\/\" 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\/10\/12\/gerd-negotiations-at-standstill-irrigation-minister\/')\">\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\/10\/12\/gerd-negotiations-at-standstill-irrigation-minister\/\">\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=GERD negotiations at standstill - Irrigation Minister&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/12\/gerd-negotiations-at-standstill-irrigation-minister\/\">\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\/10\/12\/gerd-negotiations-at-standstill-irrigation-minister\/&title=GERD negotiations at standstill - Irrigation Minister\">\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=GERD+negotiations+at+standstill+-+Irrigation+Minister+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F12%2Fgerd-negotiations-at-standstill-irrigation-minister%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\/10\/12\/gerd-negotiations-at-standstill-irrigation-minister\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556126\" class=\"content-area-description single-story post-556126 post type-post status-publish format-standard hentry category-diplomacy tag-diplomacy tag-enterpriseam tag-ethiopia tag-gerd tag-mohamed-abdel-aty tag-water wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt\u2019s negotiations with Ethiopia over GERD are now \u201call but frozen,\u201d<\/strong> even as talks remain sponsored by the international community and the African Union, Irrigation Minister Mohamed Abdel Aty <a href=\"https:\/\/www.facebook.com\/mwrifb\/posts\/231921198972459?__cft__[0]=AZWeB735dI2Hm2Qdgxn-g0Zw4zB5TWzkQ-Nndbeumyr8euvARVYPzsPzits2ssxjYGoFHYC9d45iQHLqD96Fr9fs_MuQkJUI_3961SsykR2pY6weFZv2_K_teg9hr6r7mlGVx7uPlBxCAH05ih3laQV4&__tn__=%2CO%2CP-R\">told journalists yesterday<\/a>. Authorities are ready to engage in serious negotiations to reach a legally binding agreement on operating the dam, Abdel Aty said, noting that Egypt will not allow the situation to develop into a \u201cwater crisis.\u201d <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fbeed25c-2217-4bfb-9822-79c54e15beb2\">After recent efforts<\/a> to persuade the UN Security Council to intervene in the dispute fell flat, an exact date to resume the negotiations has yet to be set.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-abdel-aty\/\">Mohamed Abdel Aty<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/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 vertical-section wide-section going-green wp-block-group issue-section\" id=\"556127\">\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\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday 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\/goinggreen\/\">\r\n                            Read going Green                        <\/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\">10<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/esg-reporting-is-coming-to-egypt-in-2023-part-ii\/\">\r\n                            ESG reporting is coming to Egypt in 2023 (Part II)<\/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\/goinggreens\/esg-reporting-is-coming-to-egypt-in-2023-part-ii\/\" 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\/goinggreens\/esg-reporting-is-coming-to-egypt-in-2023-part-ii\/')\">\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\/goinggreens\/esg-reporting-is-coming-to-egypt-in-2023-part-ii\/\">\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=ESG reporting is coming to Egypt in 2023 (Part II)&url=https:\/\/enterpriseam.com\/egypt\/goinggreens\/esg-reporting-is-coming-to-egypt-in-2023-part-ii\/\">\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\/goinggreens\/esg-reporting-is-coming-to-egypt-in-2023-part-ii\/&title=ESG reporting is coming to Egypt in 2023 (Part II)\">\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=ESG+reporting+is+coming+to+Egypt+in+2023+%28Part+II%29+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fgoinggreens%2Fesg-reporting-is-coming-to-egypt-in-2023-part-ii%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>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/esg-reporting-is-coming-to-egypt-in-2023-part-ii\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/133.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"556128\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/esg-reporting-is-coming-to-egypt-in-2023-part-ii\/133-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/133.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"133.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/133.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/133.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-556127\" class=\"content-area-description post-556127 goinggreen type-goinggreen status-publish has-post-thumbnail hentry tag-cleopatra-hospitals-group tag-edita tag-egx tag-elsewedy-electric tag-enterprise-going-green tag-enterpriseam tag-esg-reporting tag-financial-regulatory-authority tag-menna-shams-el-din tag-non-banking-financial-services tag-sina-hbous tag-tarek-yehia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-08\" class=\"content-anchor\"><\/a> <strong>POLL- ESG reporting is becoming mandatory in Egypt in 2023. Are EGX-listed companies ready for it? <\/strong>EGX-listed firms and NBFS companies will be required to file mandatory annual ESG reports starting from 2022. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f2ca0fb6-8f89-496f-a2ca-ea8c113ec0ee\">In Part 1<\/a>, we talked about what the ESG reporting requirements are and what they'll entail. In part two, we ask EGX-listed companies about implementing the reporting requirements, how they translate into actual policies within companies, and (for those who have already started) whether they are seeing an improvement in investor sentiment as a result.<\/p>\n<p><strong>Sustainability reports aren\u2019t new for listed companies: Elsewedy Electric <\/strong>undertook sustainability reporting in 2017 and now issues carbon footprint reports to monitor their plan to become carbon neutral or reach zero carbon by 2030, Senior IR Manager Tarek Yehia told us. Meanwhile, for <strong>Cleopatra Hospital<\/strong>, ESG reporting was implemented from the very start, said Hassan Fikry, the corporate strategy and IR director. The hospital group\u2019s main shareholder and core investors had mandated that they receive sustainability reports even before they listed on the EGX in 2016. <strong>Edita <\/strong>has been issuing sustainability reports since 2018 as ESGs and active reporting increasingly became a criteria for foreign investors, Menatallah Shams El Din, Edita\u2019s Investor Relations and Business Development Senior Director, told Enterprise. Edita is currently working on a sustainability report for 2021.<\/p>\n<p>(<strong>** NEED HELP WITH YOUR OWN REPORT? ** Our parent company can help.<\/strong> <a href=\"https:\/\/inktankir.com\/\">Inktank<\/a> is Egypt\u2019s leading investor relations, ESG and corporate reporting firm. Reach out to Fady Sherif on <a href=\"mailto:fsherif@inktankir.com\">fsherif@inktankir.com<\/a> if you\u2019d like to get the conversation started.)<\/p>\n<p><strong>Which is precisely why the FRA made ESG reporting a requirement:<\/strong> Companies here are missing out on international partnerships and foreign investors, because they do not implement sustainability disclosures, Sina Hbous, the executive director of the Regional Center for Sustainable Finance and the advisor to the FRA\u2019s Sustainability Center\u2019s chairman, told Enterprise. In a <a href=\"https:\/\/www.ey.com\/en_gl\/news\/2020\/07\/esg-disclosures-take-center-stage-as-investors-raise-stakes-to-assess-company-performance\">survey<\/a> by EY, 91% of institutional investors said ESGs and other nonfinancial performance indicators have played a pivotal role in their investment decision-making in 2020.<\/p>\n<p><strong>Did the foreign investors come running? <\/strong>For Edita, the sustainability reports were well received by foreign investors, Shams El Din tells us. Since it\u2019s still early days in ESG reporting, foreign investors appreciate the transparency and are more concerned with looking at strategy as opposed to where firms are now. Edita works on rolling out new and updated policies and initiatives to ensure ESG standards are met in tandem with the firm\u2019s operational expansion, she explains. Cleopatra had a similar experience, with more and more investors asking about ESG in the past year. Investors frequently say \u201cour ESG person will give you a call,\u201d Fikry told us. It\u2019s become very important and makes companies attractive to international investors when they have a good ESG story, he said.<\/p>\n<p><strong>Has putting out sustainability reports been a difficult process? <\/strong>Since Cleopatra was familiar with this kind of reporting internally, it only took a few months to publish a sustainability report publicly. However, in the case of Elsewedy Electric, it first took around two years to put together a sustainability report. It took time for the training and data collection to take place and for all of the factories to understand the new reporting technique before Elsewedy Electric began to tailor a digitalized system to support the data collection, Yehia said. Edita\u2019s internal operations department has been measuring carbon emissions for years, Shams El Din said.<\/p>\n<p><strong>When it comes to implementing ESG policies, some <\/strong><strong>parameters <\/strong><strong>are more difficult than others, particularly environmental-related policies, <\/strong>IR managers tell us. For Elsewedy Electric, environmental initiatives are the hardest as they need a long-term plan while being in line with climate, water, and energy requirements and policies used globally, Yehia said. In the short-term there are added costs to adjust, purchase and upgrade facilities in factories, but in the long-term the move translates into higher quality products and growth, Yehia says. Edita has also been undertaking initiatives to decrease greenhouse gas emissions and water usage, Shams El Din said.<\/p>\n<p><strong>Meanwhile, gender and governance factors are reportedly the easiest: <\/strong>These parameters require adopting new policies as opposed to big investments and changes in operations, Yehia explained.<\/p>\n<p><strong>We need to bear in mind that <\/strong>t<strong>he requirements don\u2019t necessarily mean that companies will all now have an ESG strategy in place. <\/strong>\u201cThe FRA can not force firms to undertake an ESG strategy, but just push them to report on what they\u2019re currently doing,\u201d Hbous stressed. It\u2019s not under the FRA\u2019s jurisdiction to mandate that ESG practices are adopted, and the authority does not realistically expect all companies to be compliant with ESG strategies even after the grace period. However, having the reporting requirement in place keeps firms aware of the long-term threat climate change has on their operations and motivates them to undertake sustainability initiatives to stay competitive against their peers in the market.<\/p>\n<p><strong>What else can firms do internally for the transition to regular ESG reporting to go smoothly? <\/strong>The most important step is to start institutionalizing sustainability within the organization by having a dedicated person or department \u2014 depending on the size of the company, Hbous said. Then they should develop their own strategy or vision and outline the steps to start implementing it. \u201cIt doesn\u2019t have to be costly at all, it\u2019s all about efficiently managing resources,\u201d she added.<\/p>\n<p><strong>Want more? Check out <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f2ca0fb6-8f89-496f-a2ca-ea8c113ec0ee\">part I<\/a><\/strong> of our reporting on the new ESG requirements, where we break down what exactly will be required of companies once the requirements come into effect.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>Your top climate stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Nobel prize goes to climate change scientists: <\/strong>The Nobel Prize for Physics <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bd63426e-a914-4a11-80c6-a82849046ea2\">was split<\/a> among Syukuro Manabe and Klaus Hasselmann for their model that reliably predicts global warming.<\/li>\n<li><strong>Developed countries are failing to fulfill their climate duties: <\/strong>Developed economies, which pledged USD 100 bn annually in climate change funding, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bd63426e-a914-4a11-80c6-a82849046ea2\">are falling USD 10 bn short<\/a>.<\/li>\n<li><strong>Two dozen countries join the Global Methane Pledge: <\/strong>The pact will <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aae19257-8517-4b75-bf04-c80e3716c13d\">employ<\/a> new policies to slash methane emissions by 30% by 2030.<\/li>\n<li><strong>Feeding cows garlic could stall climate change:<\/strong> Swiss biotechnology start-up Mootral has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3fdf5d1b-4b55-4193-9f17-f527fbbd1791\">developed<\/a> garlic-infused pellets which work by disrupting methane-producing enzymes in the guts of cows, one of the planet\u2019s biggest methane emitters.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cleopatra-hospitals-group\/\">Cleopatra Hospitals Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/edita\/\">Edita<\/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\/elsewedy-electric\/\">Elsewedy Electric<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/esg-reporting\/\">ESG reporting<\/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\/menna-shams-el-din\/\">Menna Shams El Din<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sina-hbous\/\">Sina Hbous<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-yehia\/\">Tarek Yehia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\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=\"556129\" 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\/10\/12\/your-essential-business-calendar-on-12-october-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556129\" class=\"content-area-description single-story post-556129 post type-post status-publish format-standard hentry category-calendar tag-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>October: Romanian President Klaus Iohannis <a href=\"https:\/\/bit.ly\/3z0gaic\">could visit Egypt<\/a> mid this month to discuss ways to boost tourism cooperation between the two countries.<\/p>\n<p>9-15 October (Saturday-Friday): <a href=\"https:\/\/bit.ly\/3uCd8zg\">Turathna Exhibition<\/a>, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>11-17 October (Monday-Sunday): <a href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/annual\">IMF + World Bank Annual Meetings<\/a>.<\/p>\n<p>13 October (Wednesday): Meeting of <a href=\"https:\/\/www.bancaditalia.it\/media\/notizia\/4th-g20-finance-ministers-and-central-bank-governors-washington-meeting-13-october-2021\/?com.dotmarketing.htmlpage.language=1\">G20 Finance Ministers and Central Bank Governors<\/a>, Washington DC.<\/p>\n<p>14-15 October (Thursday-Friday): <a href=\"https:\/\/au.int\/en\/newsevents\/20211014\/39th-ordinary-session-executive-council\">The Ordinary Session of the Executive Council of the African Union<\/a>, African Union Headquarters, Addis Ababa, Ethiopia.<sup><\/sup><\/p>\n<p>Mid-October: The Egyptian Banking Institute, the Financial Services Institute, and I-Score will begin airing in mid-October the Digital Credit Scoring Webinar Series, a line-up of webinars on the banking sector and banking regulations.<\/p>\n<p>18 October (Monday): E-Finance begins trading on EGX.<\/p>\n<p>18 October (Monday): Prophet\u2019s Birthday.<\/p>\n<p>21 October (Thursday): National holiday in observance of the Prophet\u2019s Birthday.<\/p>\n<p>24-28 October (Sunday-Thursday) <a href=\"https:\/\/www.cairowaterweek.eg\/\">Cairo Water Week<\/a>, Cairo, Egypt.<\/p>\n<p>27-28 October (Wednesday-Thursday) <a href=\"https:\/\/platforms-root-technologies.com\/icec-2021\/\">Intelligent Cities Exhibition & Conference<\/a>, Royal Maxim Palace Kempinski, Cairo, Egypt.<\/p>\n<p>28 October (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>28 October (Thursday): Second tranche of overdue subsidy payouts <a href=\"https:\/\/bit.ly\/3BSLyAg\">will be handed<\/a> to eligible exporters.<\/p>\n<p>30 October - 4 November (Saturday-Thursday): The first edition of <a href=\"https:\/\/globalswimseries.com\/ryan-lochte-announces-first-race-the-legends-event-in-egypt\/\">Race The Legends<\/a>, Egypt.<\/p>\n<p>30-31 October (Saturday-Sunday): <a href=\"http:\/\/sdg.iisd.org\/events\/g20-leaders-summit-2021\/\">G20 Leaders\u2019 Summit<\/a>, Rome, Italy.<\/p>\n<p>31 October (Saturday): <a href=\"https:\/\/urbanoctober.unhabitat.org\/wcd\">World Cities Day<\/a>, Luxor, Egypt.<\/p>\n<p>November: The French-Egyptian Business Forum is set to take place in the Suez Canal Economic Zone.<\/p>\n<p>November: Egypt will <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/163314772505618\">host another round of talks<\/a> to reach a potential Egyptian-Eurasian trade agreement, which can significantly contribute to increasing the volume of Egyptian exports to the Russia-led bloc that includes Armenia, Belarus, Kazakhstan and Kyrgyzstan.<\/p>\n<p>1-3 November (Monday-Wednesday): Egypt Energy exhibition on power and renewable energy, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>2-3 November (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>1-12 November (Monday-Friday): 2021 United Nations Climate Change Conference (COP26), Glasgow, United Kingdom.<\/p>\n<p>15-21 November (Monday-Sunday): <a href=\"https:\/\/www.intrafricantradefair.com\/en\">Intra-African Trade Fair 2021<\/a>, Durban, KwaZulu-Natal, South Africa.<\/p>\n<p>16-17 November (Tuesday-Wednesday):<a href=\"https:\/\/africafintechsummit.com\">Africa fintech summit<\/a>, Cairo.<\/p>\n<p>26 November-5 December (Friday-Sunday): <a href=\"https:\/\/www.facebook.com\/CairoFilms\/photos\/a.386668088207064\/1611462495727611\/\">The 43rd Cairo International Film Festival<\/a>.<\/p>\n<p>29 November-2 December (Monday-Thursday): <a href=\"https:\/\/www.egyptdefenceexpo.com\/\">Egypt Defense Expo<\/a>, Egypt International Exhibition Centre.<\/p>\n<p>7-8 December (Tuesday-Wednesday): <a href=\"https:\/\/northafricatradefinance.com\/\">North Africa Trade Finance Summit<\/a>.<\/p>\n<p>8-10 December (Wednesday-Thursday): <a href=\"https:\/\/www.gfhsegypt.com\/\">Global Forum for Higher Education and Scientific Research (GFHS)<\/a>, Cairo, Egypt.<\/p>\n<p>12-14 December (Sunday-Tuesday): <a href=\"http:\/\/www.foodafrica-expo.com\/\">Food Africa Cairo<\/a> trade exhibition, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>13-17 December: United Nations Convention against Corruption, Sharm El Sheikh, Egypt.<\/p>\n<p>14-19 December (Tuesday-Sunday): <a href=\"https:\/\/www.facebook.com\/cifcet\/\">The Cairo International Festival for Experimental Theater<\/a>.<\/p>\n<p>14-15 December (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>15 December (Wednesday): Deadline for joint stock companies and investment companies in Cairo to join e-invoicing platform.<\/p>\n<p>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/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>14-16 February 2022 (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>19 February 2022 (Saturday): Public universities begin the second term of the 2021-2022 academic year.<\/p>\n<p>1H2022: The World Economic Forum annual meeting, location TBD.<\/p>\n<p>22-24 April 2022:<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>May 2022: Investment in Logistics Conference, Cairo, Egypt<\/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>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>18-20 October 2022 (Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":556109,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-556108","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"f43a67ba-a803-47bd-8189-e20482806858","teaser":"","photo_url":"https:\/\/ent.news\/2021\/10\/123.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Enterprise e-Finance boosts IPO size amid strong demand from institutional investors - 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\/enterprise-e-finance-boosts-ipo-size-amid-strong-demand-from-institutional-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enterprise e-Finance boosts IPO size amid strong demand from institutional investors\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-e-finance-boosts-ipo-size-amid-strong-demand-from-institutional-investors\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T01:10:05+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/123.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\/enterprise-e-finance-boosts-ipo-size-amid-strong-demand-from-institutional-investors\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-e-finance-boosts-ipo-size-amid-strong-demand-from-institutional-investors\/\",\"name\":\"Enterprise e-Finance boosts IPO size amid strong demand from institutional investors - 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