{"id":557297,"date":"2021-09-14T04:00:55","date_gmt":"2021-09-14T04:00:55","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=557297"},"modified":"2025-12-16T01:38:09","modified_gmt":"2025-12-16T01:38:09","slug":"egx-could-open-the-door-for-spac-capiter-is-the-latest-fintech-startup-to-close-a-huge-fundraising-round","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egx-could-open-the-door-for-spac-capiter-is-the-latest-fintech-startup-to-close-a-huge-fundraising-round\/","title":{"rendered":"EGX could open the door for SPAC + Capiter is the latest fintech startup to close a huge fundraising round"},"content":{"rendered":"<section id=\"557299\" 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=\"557299\">\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\/09\/14\/this-morning-last-chance-for-ek-holding-shareholders-uk-reviews-it-red-list-this-week-brace-yourselves-isheep\/\">\r\n                            THIS MORNING: Last chance for EK Holding shareholders; UK reviews it \u201cRed List\u201d this week; Brace yourselves, iSheep.                        <\/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\/09\/14\/this-morning-last-chance-for-ek-holding-shareholders-uk-reviews-it-red-list-this-week-brace-yourselves-isheep\/\" 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\/09\/14\/this-morning-last-chance-for-ek-holding-shareholders-uk-reviews-it-red-list-this-week-brace-yourselves-isheep\/')\">\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\/09\/14\/this-morning-last-chance-for-ek-holding-shareholders-uk-reviews-it-red-list-this-week-brace-yourselves-isheep\/\">\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: Last chance for EK Holding shareholders; UK reviews it \u201cRed List\u201d this week; Brace yourselves, iSheep.&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/this-morning-last-chance-for-ek-holding-shareholders-uk-reviews-it-red-list-this-week-brace-yourselves-isheep\/\">\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\/09\/14\/this-morning-last-chance-for-ek-holding-shareholders-uk-reviews-it-red-list-this-week-brace-yourselves-isheep\/&title=THIS MORNING: Last chance for EK Holding shareholders; UK reviews it \u201cRed List\u201d this week; Brace yourselves, iSheep.\">\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+Last+chance+for+EK+Holding+shareholders%3B+UK+reviews+it+%E2%80%9CRed+List%E2%80%9D+this+week%3B+Brace+yourselves%2C+iSheep.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F14%2Fthis-morning-last-chance-for-ek-holding-shareholders-uk-reviews-it-red-list-this-week-brace-yourselves-isheep%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\/09\/14\/this-morning-last-chance-for-ek-holding-shareholders-uk-reviews-it-red-list-this-week-brace-yourselves-isheep\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557299\" class=\"content-area-description single-story post-557299 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-apple tag-capital-markets tag-covid-19 tag-customs tag-customs-authority tag-egx tag-egypt-kuwait-holding tag-enterpriseam tag-equities tag-tourism tag-trade tag-travel 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 happy hump day. <\/strong>And what a busy one it is, as we mull SPACs on the EGX, another blockbuster Egyptian fintech round and the expected unveiling this evening of Apple\u2019s iPhone 13.<\/p><p><strong>Dominating coverage of Egypt in the international press today: <\/strong>President Abdel Fattah El Sisi\u2019s meeting with Israeli PM Naftali Bennett yesterday in Sharm, the first such sitdown of its type in the post-Mubarak era.<\/p><p>We have chapter and verse on all of this and more, below.<\/p><p><strong>There\u2019s no \u201cbig\u201d story abroad this morning<\/strong> on what is so far a quiet day for international business news. The <a href=\"https:\/\/www.wsj.com\/articles\/facebook-files-xcheck-zuckerberg-elite-rules-11631541353\">Wall Street Journal<\/a> reports that Facebook has a program that allows mns of VIP users to sidestep the platform\u2019s rules, effectively protecting \u201cpublic figures whose posts contain harassment or incitement to violence, violations that would typically lead to sanctions for regular users.\u201d The <a href=\"https:\/\/www.ft.com\/content\/84b6b889-ae03-47f7-9cd0-bd604b21d5de\">Financial Times<\/a> is worried about an app in China that authorities are using to monitor users\u2019 visits to overseas financial news websites, while <a href=\"https:\/\/www.reuters.com\/world\/us\/us-house-democrats-seek-corporate-tax-increase-265-percent-2021-09-13\/\">Reuters<\/a> is leading with a push by House Democrats to roll back Trump-era tax breaks for corporations and the rich.<\/p><p><strong>WATCH THIS SPACE- Could Egypt be taken off the UK\u2019s \u201cred list\u201d this week?<\/strong> The UK government is expected to review its \u201cred list\u201d of countries considered to pose the highest risk of covid variants later this week, and <a href=\"https:\/\/www.telegraph.co.uk\/travel\/lists\/red-list-countries-move-amber-this-week-travel-review-update\/\">the Telegraph<\/a> quotes an industry official speculating whether Egypt could be among the lucky few to be promoted to amber. Egypt was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/49d984c1-3825-437c-b742-2fce3cf21689\">placed on the red list in June<\/a>, a decision that has all but barred visits from British tourists, who currently have to pay <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b5c83e89-8091-4920-b12b-dd92120c385c\">GBP 2,285<\/a> for a mandatory 10-day quarantine when returning home.<\/p><p><strong>Customs outlets do not need Egyptian embassies and chambers of commerce to <\/strong><strong>authenticate<\/strong><strong> certificates of origin<\/strong> before allowing goods to enter Egypt, according to a circular issued by the Customs Authority carried by <a href=\"https:\/\/bit.ly\/3z9LNFo\">Al Mal<\/a>. The requirement was first suspended last year to speed up customs clearance through the pandemic, a decision made permanent by the Trade Ministry earlier this year.<\/p><p><strong>Why are we covering this now, then?<\/strong> Apparently some customs outlets have continued to require authenticated certificates of origin despite the Trade Ministry\u2019s decision, prompting the Customs Authority to issue the circular this week.<\/p><p><strong>PSA- The mercury will dip to 36\u00b0C today <\/strong>before falling to a more seasonable 32-33\u00b0C from tomorrow through early next week.<\/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>WHAT\u2019S HAPPENING TODAY- <\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a><strong> It\u2019s the final day that shareholders in EK Holding can apply to convert the <\/strong><strong>trading currency of their shares from USD to EGP<\/strong>. Since 15 June, shareholders have been able to apply through their custodians to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c98a074a-4eca-44c7-9524-feb16a03d1da\">switch the currency of their shares to EGP<\/a> \u2014 but will still be able to collect their dividends in USD. The EGX will announce after 14 September the EGP rate at which the shares will be converted.<\/p><p><strong>The <\/strong><strong><a href=\"https:\/\/www.un.org\/en\/ga\/\">UN General Assembly<\/a><\/strong><strong> starts today in New York and runs through to 30 <\/strong><strong>September<\/strong>. The general debate will take place from 20-28 September. Leaders from at least 83 countries are <a href=\"https:\/\/www.nytimes.com\/2021\/09\/12\/world\/covid-united-nations-general-assembly.html\">expected to attend in person<\/a> \u2014 in contrast to last year, when the meeting was almost 100% virtual. There\u2019s no word yet on whether President Abdel Fattah El Sisi will attend in person or virtually.<\/p><p><strong>It\u2019s a big day for iSheep: Apple is holding a virtual event at 7pm CLT <\/strong>where we can expect a new iPhone, new AirPods and probably a new watch. The event will run for two hours, and <a href=\"https:\/\/www.apple.com\/apple-events\/\">you can stream it here<\/a>. You\u2019ll probably need to wait for one or more virtual events later this fall to see a new iPad, iPad Mini and, most interestingly, the hotly anticipated new MacBook Pros running on souped-up Apple silicon.<\/p><p><strong>Canon will officially unveil its EOS R3 mirrorless camera <\/strong>aimed at news, wildlife and sports photographers. The company is also expected to announce today an affordable 100-400mm variable aperture zoom, according to <a href=\"https:\/\/www.canonrumors.com\/here-is-everything-that-you-need-to-know-about-tomorrows-big-day-from-canon\/\">Canon Rumors<\/a>..<\/p><p><strong>ALSO- EFG Hermes\u2019 fourth Virtual Investor Conference continues today, <\/strong>running through to 21 September with the theme of \u201cAfter Reflation \u2014 FEMs in 2022.\u201d<\/p><p><strong>It\u2019s day five of the <\/strong><strong><a href=\"http:\/\/cibegyptiansquashopen.net\/\">CIB Egyptian Squash Open<\/a><\/strong><strong> today:<\/strong> There are four matches on today between 6:15 and 8:30 PM CLT, with the final set to be played on Friday 17 September. You can find the schedule <a href=\"http:\/\/cibegyptiansquashopen.net\/2021-day-three\">here<\/a>.<\/p><p><strong><a href=\"https:\/\/www.saharaexpo.com\/en\/home.html\">Sahara Expo<\/a><\/strong><strong>: <\/strong>The five-day agricultural conference continues at the Egypt International Exhibition Center through Wednesday.<\/p><p><strong>LATER THIS WEEK- <\/strong><strong>It\u2019s interest rate week and all 10 analysts <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/265b75b2-0602-4c6d-b642-e733855acbb3\">we polled<\/a><\/strong><strong> expect the central bank to leave rates <\/strong><strong>on hold<\/strong> for a seventh consecutive meeting when the Monetary Policy Committee meets on Thursday. Analysts pointed to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7ce0952-23a6-4e3a-8296-21071df079fa\">the uptick in inflation<\/a> and the pressure to maintain foreign inflows into Egyptian debt.<\/p><p><strong>All 19 analysts surveyed by<\/strong> <strong><a href=\"https:\/\/www.reuters.com\/article\/idUSKBN2G918A\">Reuters<\/a><\/strong> <strong>a<\/strong><strong>lso expected the MPC to leave rates <\/strong><strong>unchanged<\/strong>. \"Eyes still remain on global inflationary risks and potential global monetary tightening, leaving the CBE likely to keep its course of action thereby leaving rates on hold,\" said EFG Hermes\u2019 Mohamed Abu Basha.<\/p><p><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p><strong>** IN CASE YOU MISSED IT-<\/strong><\/p><ul>\n<li><strong>Foreign Ministry scheduled for an EU meeting: <\/strong>The EU <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/35520e6a-9843-495a-876f-85ed4e86b6ae\">is set to begin discussions<\/a> with the Foreign Ministry this week over its 2021-2027 strategic cooperation priorities.<\/li>\n<li><strong>Quarantine gets shortened in Saudi Arabia:<\/strong> Saudi Arabia <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/35520e6a-9843-495a-876f-85ed4e86b6ae\">has reduced the quarantine period<\/a> for travellers to the kingdom to five days effective from 23 September.<\/li>\n<li><strong>Orascom Investment Holding <\/strong><strong>narrows<\/strong><strong> losses: <\/strong>The company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ec5a949f-a4ac-445e-bcd5-8674006d531f\">reported losses<\/a> of EGP 35.5 mn in 2Q2021, compared to losses of EGP 49.9 mn over the same quarter last year.<\/li>\n<\/ul><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> Choosing locations for solar power plants is a little more complicated than just choosing sunny areas. Dust, pollution and other environmental factors can all make or break how much energy your solar installation is going to be able to draw from the sun. Enter solar validation sites.<\/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\/apple\/\">Apple<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/customs\/\">customs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/customs-authority\/\">Customs Authority<\/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\/egypt-kuwait-holding\/\">Egypt Kuwait Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/equities\/\">equities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/travel\/\">travel<\/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=\"557300\" 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=\"557300\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/557300\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557300\" class=\"content-area-description single-story post-557300 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\/SOMA-ENTERPRISE-TRIIFI-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p>We can't wait to see the endurance sports community back at Somabay Redsea, taking on the Supersprint, Sprint, Olympic, Youth, & Kids Races at a destination that's truly outstanding by nature.<\/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=\"557301\" 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=\"557301\">\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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/egx-could-open-the-door-for-spacs\/\">\r\n                            EGX could open the door for SPACs                        <\/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 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  <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/egx-could-open-the-door-for-spacs\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/178.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557302\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/egx-could-open-the-door-for-spacs\/178-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/178.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"178.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/178.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/178.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557301\" class=\"content-area-description single-story post-557301 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-capital-markets tag-egx tag-enterpriseam tag-ipo-watch tag-spacs tag-swvl 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>Egypt could be welcoming SPACs soon<\/strong>, after EGX boss Mohamed Farid suggested amendments to listing rules that would allow Egyptian companies to go to market while being acquired by or merging with another company. The amendments have been submitted to the Financial Regulatory Authority (FRA) for consideration, according to an <a href=\"https:\/\/ent.news\/2021\/9\/EGX-SPAC-listing-statement.pdf\">EGX statement (pdf)<\/a>. The proposed changes also include clauses that would ease the process of listed companies acquiring non-listed entities.<\/p>\n<p><strong>SPACs would have two years after debuting to acquire a target company<\/strong> and are required to invest the funds they raise from investors into fixed income instruments in the meantime. In the event that the SPAC fails to acquire another company during that time period, funds should be given back to investors along with returns from the fixed-income investments, and the company will be obliged to delist.<\/p>\n<p><strong>Why is Egypt jumping on the SPAC train? <\/strong>EGX boss Farid said sees the amendments as a great chance for startups to grow and a way to raise the EGX\u2019s market cap. The amendments were reportedly suggested after Prime Minister Mostafa Madbouly recently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/159e769d-8dc7-419a-b00a-5c53e8c69a7d\">met with a number of startups<\/a>, including ride-hailing app Swvl, PayNas, Fatura, Bypass, and Garment IO. The meeting came on the heels of Swvl\u2019s announcement that it would <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bfbf590f-581d-4b49-96b3-3ac733bb7fe3\">IPO on the Nasdaq<\/a> later this year via a SPAC merger.<\/p>\n<p><strong>What exactly is a SPAC, you ask? <\/strong>SPACs \u2014 special vehicle acquisition companies \u2014 are listed entities whose sole purpose is to raise capital through an IPO to acquire other companies. SPACs don\u2019t actually have commercial operations. After going public, the SPAC places the proceeds in a trust while it finds a company to acquire (this usually has to be done within two years or it faces liquidation). They\u2019re still a big thing in western markets, and <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6ab3251-641a-4e2c-aa00-6b8486d10c68\">we have a full explainer here.<\/a><\/strong><\/p>\n<p><strong>The EGX is also looking to up its market cap through new regulations that will make it easier for large companies to list on the EGX. <\/strong>The new listing <a href=\"https:\/\/ent.news\/2021\/9\/FRA-Statment.pdf\">amendments (pdf)<\/a> reduce the amount of capital that companies need to offer to the public in a move designed to encourage share sales on the Egyptian bourse. The move comes ahead of what officials have suggested will be a pickup in IPO activity in the coming months.<\/p>\n<p><strong>Earlier this summer <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/acf488e4-a011-4cb6-aa2a-ae77f17a535e\">Bloomberg said<\/a><\/strong><strong> the Middle East could see a SPAC boom<\/strong>, citing Dubai-based Shuaa Capital\u2019s plans to establish three SPACs worth USD 200 mn each as evidence that the trickle of MENA blank-check companies might turn into a \u201cflood.\u201d<\/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\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/spacs\/\">SPACs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/swvl\/\">Swvl<\/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=\"557303\" 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=\"557303\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/b2b-e-commerce-platform-capiter-raises-usd-33-mn-for-expansion-in-series-a-round\/\">\r\n                            B2B e-commerce platform Capiter raises USD 33 mn for expansion in series A round                        <\/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 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<\/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\/09\/14\/b2b-e-commerce-platform-capiter-raises-usd-33-mn-for-expansion-in-series-a-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/180.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557304\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/b2b-e-commerce-platform-capiter-raises-usd-33-mn-for-expansion-in-series-a-round\/180-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/180.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"180.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/180.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/180.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557303\" class=\"content-area-description single-story post-557303 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-b2b tag-capiter tag-e-commerce tag-enterpriseam tag-fintech tag-non-banking-financial-services tag-smes tag-startup-watch tag-startups tag-supply-chain 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>Cairo-based B2B e-commerce startup <\/strong><strong><a href=\"https:\/\/www.capiter.net\/\">Capiter<\/a><\/strong><strong> has raised USD 33 mn in a series A <\/strong><strong>funding round<\/strong> co-led by Quona Capital and MSA Capital, according to an <a href=\"https:\/\/ent.news\/2021\/9\/Capiter-13-Sep-21-English.pdf\">emailed<\/a><a href=\"https:\/\/ent.news\/2021\/9\/Capiter-13-Sep-21-English.pdf\">statement (pdf)<\/a>. <sup><\/sup>Savola, Shorooq Partners, Foundation Ventures, Accion Venture Lab, and Derayah Ventures also took part in the round.<\/p>\n<p><strong>This is one of the largest series A rounds led by an Egyptian startup<\/strong>, and follows <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48c7f3ae-18ae-4584-9eb9-d62d863793ba\">MaxAB\u2019s USD 40 mn round<\/a> as the second-largest \u201cA\u201d round we\u2019ve seen in 2021. <strong>MNT-Halan still holds the record <\/strong>for both the biggest raise of any form so far this year and the largest fintech round ever raised in MENA after announcing a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b07d9131-549a-4e31-aba4-b39a6704f6ac\">blockbuster USD 120 mn round last week<\/a>.<\/p>\n<p><strong>The company will use the funds to finance expansion <\/strong>in Egypt and across the region in 2022, particularly in digital financial services, according to the statement. \u201cWe\u2019re well-placed to scale geographically to enable more retailers across the region to use Capiter\u2019s services while also expanding into new verticals like agriculture and pharma offerings,\u201d said Capiter COO Ahmed Nouh.<\/p>\n<p><strong>Founded in 2020, Capiter\u2019s platform allows SME retailers to order inventory, arrange delivery, and access financing to pay for the goods<\/strong>, while also offering data-driven insights using machine learning to help SMEs build more efficient supply chain management and distribution strategies. \u201cThe inefficiencies of the supply chain have been a pain point for suppliers and merchants and that is being efficiently addressed by Capiter\u2019s platform,\u201d said Savola Foods CSO Mohamed Badran.<\/p>\n<p><strong>The funding represents emerging-market fintech investor <\/strong><strong><a href=\"https:\/\/quona.com\/\">Quona Capital<\/a><\/strong><strong>\u2019s first investment in Egypt, <\/strong>the statement says. \u201cQuona\u2019s investment in Capiter builds on our existing B2B e-commerce portfolio and growing presence in MENA. We look forward to helping Capiter on its journey to revolutionize the retail landscape in the region and provide a model for peers globally while increasing services for the underbanked,\u201d said Quona co-founder and managing partner Monica Brand Engel.<\/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\/b2b\/\">B2B<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capiter\/\">Capiter<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-commerce\/\">e-commerce<\/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\/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\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-chain\/\">supply chain<\/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=\"557305\" 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=\"557305\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/valu-kicks-off-egp-2-bn-securitization-program-fawry-eyes-consumer-finance-space\/\">\r\n                            Valu kicks off EGP 2 bn securitization program + Fawry eyes consumer finance space                        <\/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\/09\/14\/valu-kicks-off-egp-2-bn-securitization-program-fawry-eyes-consumer-finance-space\/\" 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\/09\/14\/valu-kicks-off-egp-2-bn-securitization-program-fawry-eyes-consumer-finance-space\/')\">\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\/09\/14\/valu-kicks-off-egp-2-bn-securitization-program-fawry-eyes-consumer-finance-space\/\">\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=Valu kicks off EGP 2 bn securitization program + Fawry eyes consumer finance space&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/valu-kicks-off-egp-2-bn-securitization-program-fawry-eyes-consumer-finance-space\/\">\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\/09\/14\/valu-kicks-off-egp-2-bn-securitization-program-fawry-eyes-consumer-finance-space\/&title=Valu kicks off EGP 2 bn securitization program + Fawry eyes consumer finance space\">\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=Valu+kicks+off+EGP+2+bn+securitization+program+%2B+Fawry+eyes+consumer+finance+space+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F14%2Fvalu-kicks-off-egp-2-bn-securitization-program-fawry-eyes-consumer-finance-space%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\/09\/14\/valu-kicks-off-egp-2-bn-securitization-program-fawry-eyes-consumer-finance-space\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/185.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557306\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/valu-kicks-off-egp-2-bn-securitization-program-fawry-eyes-consumer-finance-space\/185-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/185.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"185.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/185.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/185.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557305\" class=\"content-area-description single-story post-557305 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-consumer-finance tag-debt-watch tag-efg-hermes tag-enterpriseam tag-orascom-construction tag-securitization tag-sound-and-light-cinema-company tag-valu wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>EFG Hermes\u2019 consumer finance subsidiary Valu has kicked off its <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9792bf42-8581-4cea-bc12-7ae2a926732f\">EGP 2 bn<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9792bf42-8581-4cea-bc12-7ae2a926732f\">securitization program<\/a><\/strong><strong> with a EGP 323 mn bond issuance<\/strong>, according to <a href=\"https:\/\/ent.news\/2021\/9\/valU-Securitization-PRL-ENG.pdf\">a<\/a><sup><\/sup><a href=\"https:\/\/ent.news\/2021\/9\/valU-Securitization-PRL-ENG.pdf\">statement (pdf)<\/a> yesterday from the financial services corporation, whose advisory arm managed the issuance. The security is backed by a EGP 369 mn receivable portfolio, and was given an investment-grade prime-1 rating by Middle East Rating Services, the statement read.<\/p>\n<p><strong>Valu isn\u2019t the only EFG subsidiary selling asset-backed securities:<\/strong> Its factoring and leasing arm, EFG Hermes Corp-Solutions, is also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9792bf42-8581-4cea-bc12-7ae2a926732f\">planning to take<\/a> an EGP 300 mn issuance to market later this year.<\/p>\n<p><strong>Egypt\u2019s securitization market has been on a roll these past few months: <\/strong>With Raya subsidiary Aman <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a3fd792a-1ec8-4398-86fd-ef99cdd2e303\">completing the issuance<\/a> of EGP 585 mn in securitized bonds, while upmarket developer SODIC <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b48e82ec-9602-4999-8ff3-517e4c520c2d\">closed an EGP 343 mn securitized bond sale<\/a> and financial leasing company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cf5c56ba-18e9-42c6-9bf7-c2714d01b589\">EgyLease<\/a> recently revealing that it is working to issue EGP 750 mn in securitized bonds.<\/p>\n<p><strong>Advisors:<\/strong> EFG Hermes acted as the sole financial advisor, transaction manager, book-runner, underwriter, and arranger on the issuance. Dreny & Partners acted as legal advisor and KPMG was the auditor of the transaction. Suez Canal Bank and AAIB acted as underwriters and AAIB acted as custodian.<\/p>\n<hr class=\"grey-line\">\n<p><strong>In other NBFS news:<\/strong><\/p>\n<ul>\n<li><strong>Fawry will launch a consumer finance company with EGP 10 mn in capital<\/strong>, it announced in <a href=\"https:\/\/ent.news\/2021\/9\/Fawry-consumer-finance-company.pdf\">an EGX filing (pdf)<\/a> yesterday after its board green-lit the decision. The company will be fully owned by Fawry, which will contribute EGP 7.5 mn of the start-up capital, while subsidiary Fawry Microfinance will provide the remainder.<\/li>\n<li><strong>Contact now has the right to promote and cover issuances of securities <\/strong>under amendments approved by its general assembly, according to an <a href=\"https:\/\/ent.news\/2021\/9\/contact-egx.pdf\">EGX disclosure (pdf)<\/a>.<\/li>\n<\/ul>\n<hr class=\"grey-line\">\n<p><strong>OTHER DEBT NEWS- OIH takes out loan for Pyramids sound and light show:<\/strong> Orascom Investment Holding (OIH) will borrow EGP 311 mn from the National Bank of Egypt (NBE) over a nine-year term to improve the Giza Pyramids\u2019 sound and light show, the state-owned bank said in <a href=\"https:\/\/ent.news\/2021\/9\/orascom-holding.pdf\">a statement (pdf)<\/a> yesterday. The company has estimated the project <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a2fc7c72-136b-4895-a6d3-a080152d9119\">will cost EGP 350 mn<\/a> in total, the remainder of which will be self-financed.<\/p>\n<p><strong>More sound, more light:<\/strong> The project, part of the company\u2019s <a href=\"https:\/\/enterprise.press\/hardhats\/giza-pyramids-area-getting-major-makeover-heres\/\">larger development plan<\/a> to revamp the area around the Giza Pyramids, involves installing new equipment to modernize and improve the 40-year-old landmark spectacle, as well as build office spaces for its workers and open restaurants and retail outlets.<\/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\/consumer-finance\/\">consumer finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sound-and-light-cinema-company\/\">Sound and Light Cinema Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/valu\/\">ValU<\/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=\"557307\" 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=\"557307\">\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\">Transport<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/siemens-could-sign-contracts-for-second-third-high-speed-rail-lines-within-2-months\/\">\r\n                            Siemens could sign contracts for second, third high-speed rail lines within 2 months                        <\/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\/09\/14\/siemens-could-sign-contracts-for-second-third-high-speed-rail-lines-within-2-months\/\" 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\/09\/14\/siemens-could-sign-contracts-for-second-third-high-speed-rail-lines-within-2-months\/')\">\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\/09\/14\/siemens-could-sign-contracts-for-second-third-high-speed-rail-lines-within-2-months\/\">\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=Siemens could sign contracts for second, third high-speed rail lines within 2 months&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/siemens-could-sign-contracts-for-second-third-high-speed-rail-lines-within-2-months\/\">\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\/09\/14\/siemens-could-sign-contracts-for-second-third-high-speed-rail-lines-within-2-months\/&title=Siemens could sign contracts for second, third high-speed rail lines within 2 months\">\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=Siemens+could+sign+contracts+for+second%2C+third+high-speed+rail+lines+within+2+months+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F14%2Fsiemens-could-sign-contracts-for-second-third-high-speed-rail-lines-within-2-months%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\/09\/14\/siemens-could-sign-contracts-for-second-third-high-speed-rail-lines-within-2-months\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/186.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557308\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/siemens-could-sign-contracts-for-second-third-high-speed-rail-lines-within-2-months\/186-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/186.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"186.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/186.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/186.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557307\" class=\"content-area-description single-story post-557307 post type-post status-publish format-standard has-post-thumbnail hentry category-transport tag-enterpriseam tag-high-speed-rail tag-siemens tag-transport tag-transport-ministry 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-04\"><\/a> <strong>Siemens will sign up to USD 6 bn in contracts to implement the second and<\/strong><strong> third <\/strong><strong>lines of Egypt\u2019s high-speed rail project within the next two months<\/strong>, Amwal Alghad<sup><\/sup> reports, citing sources at the Transport Ministry. The ministry has reportedly reached a preliminary agreement with the German conglomerate on the implementation of the second and third phases of the USD 26 bn megaproject, which will connect Sixth of October to Aswan, and Luxor to Hurghada via Safaga, the sources added.<\/p>\n<p><strong>The contract for the first phase of the USD 23 bn project was signed earlier this month.<\/strong> Siemens, along with Orascom Construction and Arab Contractors, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/13c77944-a194-421e-b52d-c3ab09523df6\">this month signed<\/a> a USD 4.5 bn contract with the government to design, install and maintain the first line, which will run 660 km between Ain Sokhna, Alexandria and Marsa Matrouh. The first line should be complete <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1832706670241023\">within two years<\/a>, setting up a completion date sometime in 2023.<\/p>\n<p><strong>Siemens has begun discussions with international financial institutions to secure funds for the first leg<\/strong>, the sources told the newspaper yesterday, without disclosing the lenders. The project is being undertaken on an EPC-plus-finance basis, meaning the contractors are responsible for arranging the financing. Siemens\u2019 share of the contract is worth around USD 3 bn, which will see it provide high-speed and regional trains, locomotives, rail infrastructure, system integration among other services.<\/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\/high-speed-rail\/\">high-speed rail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/siemens\/\">Siemens<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport-ministry\/\">Transport Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557309\" 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=\"557309\">\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\">Tourism<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/russia-may-up-flights-between-moscow-red-sea\/\">\r\n                            Russia may up flights between Moscow + Red Sea                        <\/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\/09\/14\/russia-may-up-flights-between-moscow-red-sea\/\" 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\/09\/14\/russia-may-up-flights-between-moscow-red-sea\/')\">\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\/09\/14\/russia-may-up-flights-between-moscow-red-sea\/\">\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=Russia may up flights between Moscow + Red Sea&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/russia-may-up-flights-between-moscow-red-sea\/\">\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\/09\/14\/russia-may-up-flights-between-moscow-red-sea\/&title=Russia may up flights between Moscow + Red Sea\">\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=Russia+may+up+flights+between+Moscow+%2B+Red+Sea+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F14%2Frussia-may-up-flights-between-moscow-red-sea%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\/09\/14\/russia-may-up-flights-between-moscow-red-sea\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/187.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557310\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/russia-may-up-flights-between-moscow-red-sea\/187-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/187.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"187.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/187.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/187.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557309\" class=\"content-area-description single-story post-557309 post type-post status-publish format-standard has-post-thumbnail hentry category-tourism tag-enterpriseam tag-russia tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Russia <\/strong><strong>may<\/strong><strong> increase the number of direct flights between the country and<\/strong> <strong>tourist hotspots Sharm El Sheikh and Hurghada<\/strong>, according to a Russian <a href=\"http:\/\/government.ru\/en\/news\/43252\/\">government statement.<\/a> The number of direct flights between Moscow and each of the two Red Sea resorts could be upped from a current 15 up to as many as 25 per week starting from 21 September, according to the statement. The country will also resume direct flights to destinations in Iraq, Spain, Kenya and Slovakia from the same date, as it continues to ease coronavirus-related travel restrictions.<\/p>\n<p><strong>Between one and three flights per week will also be operated from Russian airports outside of Moscow<\/strong> that have resumed international flights to Hurghada and Sharm El Sheikh, the statement added. It was not immediately clear which Russian airports that referred to, though Bloomberg in August <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-09\/russia-resumes-flights-to-egyptian-resorts-after-6-years?sref=mmeFTDW1\">reported<\/a> that the Russian state aviation agency had cleared eight Russian airlines to operate flights to Hurghada and Sharm El Sheikh from 43 cities across the country. Flights will also resume between Egypt and the international airports of Pskov, Magadan, Murmansk and Chita on 21 September, though the statement did not mention how frequently these would run.<\/p>\n<p><strong>Russia last month <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0ff34b42-c9a0-4248-a57a-11f7d793127d\">tripled<\/a><\/strong><strong> the number of flights from Moscow to Sharm El Sheikh and Hurghada<\/strong>, with each of the two Red Sea resorts now welcoming 15 planes every week. Egypt last month <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a9b7d2d1-a767-4a8d-8a0f-b42df390ce59\">welcomed the first direct flights<\/a> between Moscow and its Red Sea resorts in six years, as Russia\u2019s flight ban finally came to an end.<\/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\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/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=\"557311\" 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=\"557311\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/banque-misr-gets-gold-bug\/\">\r\n                            Banque Misr gets gold bug                        <\/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\/09\/14\/banque-misr-gets-gold-bug\/\" 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\/09\/14\/banque-misr-gets-gold-bug\/')\">\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\/09\/14\/banque-misr-gets-gold-bug\/\">\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=Banque Misr gets gold bug&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/banque-misr-gets-gold-bug\/\">\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\/09\/14\/banque-misr-gets-gold-bug\/&title=Banque Misr gets gold bug\">\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=Banque+Misr+gets+gold+bug+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F14%2Fbanque-misr-gets-gold-bug%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\/09\/14\/banque-misr-gets-gold-bug\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/188.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557312\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/banque-misr-gets-gold-bug\/188-jpg-57\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/188.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"188.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/188.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/188.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557311\" class=\"content-area-description single-story post-557311 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-banque-misr tag-enterpriseam tag-gold tag-investment-watch tag-misr-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Banque Misr is aiming to launch what it is positioning as the country\u2019s first gold investment fund<\/strong>, Akef El Maghraby, the bank\u2019s vice chairman, told <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=11092021&id=f6274a24-d11a-4921-820a-6440ad4805b0\">Al Shorouk<\/a>. The fund aims to meet the needs of investors who wish to invest in gold but lack the necessary experience, according to El Maghraby.<\/p>\n<p><strong>More projects in the pipeline: <\/strong>The bank is currently in the process of establishing the Pyramid Investments Company, which aims to support projects in labor-generating industries and exports, as well as the expansion of existing local industrial facilities.<\/p>\n<p><strong>The bank has already branched out into education: <\/strong>Earlier this year Banque Misr, along with Misr Ins. Holding Company (MIH), the SFE, and the Suez Canal Bank <a href=\"https:\/\/enterprise.press\/blackboards\/lighthouse-education-takes-off-big-plans-sector\/\">contributed<\/a> a combined EGP 375 mn to paid-in capital of Lighthouse Education \u2014 which is eventually expected to become one of the largest education sector investment vehicles in the country.<\/p>\n<p><strong>The bank is also expected to take part in the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f4f733e5-e7b8-4952-a8cc-e4f0fe7bbc08\">launch of an EGP 1 bn fund of funds<\/a><\/strong><strong> during 4Q2021<\/strong>, in cooperation with four other state-owned banks \u2014 the National Bank of Egypt, Suez Canal Bank and Banque du Caire. The fund plans to invest in SMEs and companies operating in healthcare, education, fintech, agribusiness, renewables, fast-moving consumer goods as well as information and communications technology.<\/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\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gold\/\">gold<\/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\/misr-capital\/\">Misr Capital<\/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=\"557313\" 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=\"557313\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/egypt-israel-hold-first-official-top-level-meeting-in-over-a-decade\/\">\r\n                            Egypt, Israel hold first official top-level meeting in over a decade                        <\/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\/09\/14\/egypt-israel-hold-first-official-top-level-meeting-in-over-a-decade\/\" 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\/09\/14\/egypt-israel-hold-first-official-top-level-meeting-in-over-a-decade\/')\">\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\/09\/14\/egypt-israel-hold-first-official-top-level-meeting-in-over-a-decade\/\">\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, Israel hold first official top-level meeting in over a decade&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/egypt-israel-hold-first-official-top-level-meeting-in-over-a-decade\/\">\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\/09\/14\/egypt-israel-hold-first-official-top-level-meeting-in-over-a-decade\/&title=Egypt, Israel hold first official top-level meeting in over a decade\">\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%2C+Israel+hold+first+official+top-level+meeting+in+over+a+decade+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F14%2Fegypt-israel-hold-first-official-top-level-meeting-in-over-a-decade%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\/09\/14\/egypt-israel-hold-first-official-top-level-meeting-in-over-a-decade\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/189.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557314\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/egypt-israel-hold-first-official-top-level-meeting-in-over-a-decade\/189-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/189.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"189.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/189.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/189.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557313\" class=\"content-area-description single-story post-557313 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-abdel-fattah-el-sisi tag-aviation tag-diplomacy tag-enterpriseam tag-israel-palestine-conflict tag-naftali-bennett wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Israeli Prime Minister Naftali Bennett and President Abdel Fattah El Sisi met in <\/strong><strong>Sharm El Sheikh yesterday<\/strong> \u2014 the first time leaders from the two countries have met publicly in more than a decade. Efforts to revive peace talks between the Israelis and Palestinians were at the top of the agenda, Ittihadiya said in <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/400237598131641\">a statement<\/a>, which added that El-Sisi \u201caffirmed Egypt's support for all efforts to achieve comprehensive peace in the Middle East, according to the two-state solution.\u201d <a href=\"https:\/\/www.gov.il\/en\/departments\/news\/event_el_sisi130921\">A statement<\/a> from Bennett\u2019s office made no mention of the peace process, saying only that the two leaders discussed diplomatic, security and economic issues.<\/p>\n<p><strong>Bennett signaled that the meeting had set the two countries up for a deepening of ties:<\/strong> \u201cWe created a foundation for a deep connection going forward,\u201d Bennett said in the statement. He added that Israel had been \u201cincreasingly opening up to the countries of the region,\u201d a strategy that has peace with Egypt at its core.<\/p>\n<p><strong>Egyptian-Israeli transport will get a boost int he wake of the talks:<\/strong> Several direct flights a week will run between Cairo and Tel Aviv starting in October, Reuters <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/israeli-prime-minister-visits-egypt-first-official-trip-decade-2021-09-13\/\">reported<\/a>, citing sources from EgyptAir. Meanwhile, Israel\u2019s transport ministry said that the Taba crossing between Israel and Sinai, which has been intermittently closed as the result of coronavirus prevention measures, was set to become fully operational as of Monday.<\/p>\n<p><strong>This was Bennett\u2019s first official visit to Egypt<\/strong> \u2014 and the first of any Israeli PM since Benjamin Netanyahu <a href=\"https:\/\/mfa.gov.il\/mfa\/pressroom\/2011\/pages\/pm_netanyahu_meets_egyptian_president_mubarak_6-jan-2011.aspx\">visited Hosni Mubarak<\/a> just a few weeks before the 2011 revolution.<\/p>\n<p><strong>The visit came amid reports that Egypt is preparing a new roadmap to restart Israel-Palestine peace talks<\/strong>, although Bennett is a far-right nationalist who opposes Palestinian statehood. El Sisi in August extended the invitation to Bennett to visit, before last week calling Israeli President Isaac Herzog to wish him a happy Rosh Hashanah.<\/p>\n<p><strong>IT\u2019S A BIG STORY \u2014 dominating coverage on Egypt in the foreign press<\/strong>, from <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/israeli-prime-minister-visits-egypt-first-official-trip-decade-2021-09-13\/\">Reuters<\/a> and <a href=\"https:\/\/apnews.com\/article\/africa-israel-egypt-summits-middle-east-c02e85c157a886b97299ab78e4eafb28\">AP<\/a> to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-09-13\/egypt-s-sisi-to-meet-israel-premier-for-talks-on-monday?sref=mmeFTDW1\">Bloomberg<\/a> and <a href=\"https:\/\/www.haaretz.com\/israel-news\/.premium-israel-s-bennett-egypt-s-sissi-set-to-meet-in-sinai-1.10205013\">Haaretz<\/a>.<\/p>\n<p><strong>And it was also the talk of the airwaves last night<\/strong>, with most of the nation\u2019s talking heads giving the meeting some airtime: El Hekaya (<a href=\"https:\/\/www.youtube.com\/watch?v=efTjxZvVj50\">watch, runtime: 11:00<\/a>), Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=h-rw58qwiRY\">watch, runtime: 1:35<\/a>) and Alaa Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=f1ELL3Yh6v4\">watch, runtime: 9:32<\/a>) were among those that had the story.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/naftali-bennett\/\">Naftali Bennett<\/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=\"557315\" 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=\"557315\">\r\n            \r\n           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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=\"557316\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/last-nights-talk-shows-on-the-israeli-visit-and-a-long-wait-until-the-fourth-wave-peaks\/\">\r\n                            Last Night\u2019s Talk Shows on the Israeli visit and a long wait until the fourth wave peaks                        <\/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 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                 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\/09\/14\/last-nights-talk-shows-on-the-israeli-visit-and-a-long-wait-until-the-fourth-wave-peaks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557316\" class=\"content-area-description single-story post-557316 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-enterpriseam tag-israel-palestine-conflict tag-last-nights-talk-shows tag-naftali-bennett tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>President Abdel Fattah El Sisi\u2019s meeting with Israeli PM Naftali Bennett was the talk of <\/strong><strong>the airwaves last night:<\/strong> We have more on the story in this morning\u2019s Diplomacy section, above.<\/p>\n<p><strong>Covid still got its regular slot in the coverage: The pandemic\u2019s fourth wave will not peak until the end of October<\/strong>, presidential health advisor Mohamed Awad Tag El Din said in a phone call on Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=GDdx1GfUbU0\">watch, runtime: 3:17<\/a>). He said vaccination would become mandatory in some cases if the progress of the pandemic necessitated it and enough vaccines were available, adding that Egypt is studying whether to expand the range of vaccines we\u2019re now making here at home.<\/p>\n<p><strong>About <\/strong><strong>8 mn Egyptians<\/strong><strong> have so far received at least one dose of a coronavirus vaccine, <\/strong>and 25% of that number have received two doses, said Awad Tag El Din (<a href=\"https:\/\/www.youtube.com\/watch?v=3eZyUFe-PTA\">watch, runtime: 6:17<\/a>). This is up 500k from three weeks ago, when Health Minister Hala Zayed said that <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/41c4d9d1-17d6-4e13-acbf-5c5e86c69725\">7.5 mn<\/a> people had received at least one dose of a vaccine. Egypt is aiming to vaccinate 40 mn citizens by the end of the year.<\/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\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/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\/naftali-bennett\/\">Naftali Bennett<\/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=\"557317\" 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 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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-l1kdvc7\" data-v=\"4\" data-block-id=\"l1kdvc7\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-l1kdvc7-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-l1kdvc7-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 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557318\" 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=\"557318\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/el-sisis-meeting-with-israeli-pm-dominates-coverage-in-the-foreign-press\/\">\r\n                            El Sisi\u2019s meeting with Israeli PM dominates coverage in the foreign press                        <\/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\/09\/14\/el-sisis-meeting-with-israeli-pm-dominates-coverage-in-the-foreign-press\/\" 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\/09\/14\/el-sisis-meeting-with-israeli-pm-dominates-coverage-in-the-foreign-press\/')\">\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\/09\/14\/el-sisis-meeting-with-israeli-pm-dominates-coverage-in-the-foreign-press\/\">\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=El Sisi\u2019s meeting with Israeli PM dominates coverage in the foreign press&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/el-sisis-meeting-with-israeli-pm-dominates-coverage-in-the-foreign-press\/\">\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\/09\/14\/el-sisis-meeting-with-israeli-pm-dominates-coverage-in-the-foreign-press\/&title=El Sisi\u2019s meeting with Israeli PM dominates coverage in the foreign press\">\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=El+Sisi%E2%80%99s+meeting+with+Israeli+PM+dominates+coverage+in+the+foreign+press+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F14%2Fel-sisis-meeting-with-israeli-pm-dominates-coverage-in-the-foreign-press%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\/09\/14\/el-sisis-meeting-with-israeli-pm-dominates-coverage-in-the-foreign-press\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557318\" class=\"content-area-description single-story post-557318 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-abdel-fattah-el-sisi tag-diplomacy tag-enterpriseam tag-hossam-bahgat tag-human-rights tag-israel tag-naftali-bennett tag-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The first official meeting of Egyptian and Israeli leaders in more than 11 years is stealing<\/strong> <strong>all the limelight in the foreign press.<\/strong> We have full coverage of Israeli PM Naftali Bennett\u2019s trip to Sharm El Sheikh for talks with President Abdel Fattah El Sisi in the Diplomacy section, above.<\/p>\n<p><strong>Human rights is back on the agenda:<\/strong> Italian newswire <a href=\"https:\/\/www.ansamed.info\/ansamed\/en\/news\/sections\/politics\/2021\/09\/13\/egypt-approves-strategy-for-human-rights_ca2dfe53-3798-4a64-8181-8a566abff5ff.html\">ANSA<\/a> covers the new human rights strategy Egypt announced earlier this week, while the <a href=\"https:\/\/cpj.org\/2021\/09\/egyptian-journalist-hossam-bahgat-is-set-to-go-on-trial-for-a-tweet\/\">Committee to Protect Journalists<\/a> covers the upcoming trial of journalist and human rights activist Hossam Bahgat, who will be in court on 2 November on charges of allegedly spreading fake news and insulting the government.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hossam-bahgat\/\">Hossam Bahgat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/naftali-bennett\/\">Naftali Bennett<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/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=\"557319\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557320\" 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=\"557320\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/itfc-could-triple-the-funding-it-gives-egypt-for-food-commodities\/\">\r\n                            ITFC could triple the funding it gives Egypt for food commodities                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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<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=ITFC could triple the funding it gives Egypt for food commodities&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/itfc-could-triple-the-funding-it-gives-egypt-for-food-commodities\/\">\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\/09\/14\/itfc-could-triple-the-funding-it-gives-egypt-for-food-commodities\/&title=ITFC could triple the funding it gives Egypt for food commodities\">\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=ITFC+could+triple+the+funding+it+gives+Egypt+for+food+commodities+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F14%2Fitfc-could-triple-the-funding-it-gives-egypt-for-food-commodities%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\/09\/14\/itfc-could-triple-the-funding-it-gives-egypt-for-food-commodities\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557320\" class=\"content-area-description single-story post-557320 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-enterpriseam tag-supply-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The International Islamic Trade Finance Corporation (ITFC) could triple the <\/strong><strong>funding it <\/strong><strong>gives Egypt for food commodities<\/strong>, Supply Minister Aly El Moselhy has claimed. The lender has agreed in principle to raise the funding it gives to the General Authority for Supply Commodities (GASC) from <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/153368593500236\">USD 400 mn<\/a><sup><\/sup> to USD 1.3 bn, provided the money only be spent on basic commodities such as wheat, oil and sugar, he told <a href=\"https:\/\/bit.ly\/2X9qc2t\">Al Mal<\/a>. The ITFC has not commented publicly on the suggestion.<\/p>\n<p><strong>It\u2019s not clear from the article whether the minister is referring to an extension of the current <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d9c38c88-b58b-49de-b9eb-d81002013051\">USD 1.1 bn loan<\/a><\/strong> agreed in January for the 2021 calendar year, or whether he is talking about negotiating a future loan.<\/p>\n<p><strong>Jordan will not allow first-time GCC work visa holders to transit through the country for two weeks<\/strong> in a decision that will potentially affect thousands of Egyptian workers transiting through Jordan to work in KSA. The <a href=\"https:\/\/www.facebook.com\/permalink.php?story_fbid=231577342336784&id=100064535599158\">Manpower Ministry said<\/a> yesterday that the Jordanian tourism ministry decided to introduce the restrictions after \u201cchaos and confusion\u201d caused by travel agents who failed to ensure appropriate accommodation for travelers or to confirm that they had left Jordan on their scheduled dates of departure. Jordan is currently considered the most affordable transit point for travelers to Saudi Arabia and is used by Egyptian workers with Saudi residence permits, who quarantine in Jordan before continuing on to Saudi Arabia.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning: <\/strong><\/p>\n<ul>\n<li><strong>Housing and Development Bank will more than triple its issued capital to <\/strong><strong>EGP 5.31 bn<\/strong> from EGP 1.52 bn using reserves and retained earnings from the previous year, after receiving regulatory approval, it said in a <a href=\"https:\/\/ent.news\/2021\/9\/Housing-Development-Bank-Capital-Increase-Bourse-Statement.pdf\">bourse filing (pdf)<\/a>.<\/li>\n<li><strong>Real estate developer Master Group has signed an EGP 600 mn contract <\/strong><strong>with contracting firm Kenaaz<\/strong> to implement the second phase of its The City project in the new administrative capital, <a href=\"https:\/\/bit.ly\/3loFHfg\">Hapi Journal<\/a> reports, citing a company statement.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-ministry\/\">Supply Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557321\" 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=\"557321\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/registered-for-a-vaccine-but-didnt-hear-anything-try-registering-again\/\">\r\n                            Registered for a vaccine but didn\u2019t hear anything? Try registering again                        <\/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\/09\/14\/registered-for-a-vaccine-but-didnt-hear-anything-try-registering-again\/\" 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\/09\/14\/registered-for-a-vaccine-but-didnt-hear-anything-try-registering-again\/')\">\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\/09\/14\/registered-for-a-vaccine-but-didnt-hear-anything-try-registering-again\/\">\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=Registered for a vaccine but didn\u2019t hear anything? Try registering again&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/registered-for-a-vaccine-but-didnt-hear-anything-try-registering-again\/\">\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\/09\/14\/registered-for-a-vaccine-but-didnt-hear-anything-try-registering-again\/&title=Registered for a vaccine but didn\u2019t hear anything? Try registering again\">\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=Registered+for+a+vaccine+but+didn%E2%80%99t+hear+anything%3F+Try+registering+again+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F14%2Fregistered-for-a-vaccine-but-didnt-hear-anything-try-registering-again%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\/09\/14\/registered-for-a-vaccine-but-didnt-hear-anything-try-registering-again\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557321\" class=\"content-area-description single-story post-557321 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-pfizer 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> People who have been waiting 3-4 months for vaccines should be able to register again, <\/strong>the head of the government\u2019s covid-19 committee Hossam Hosny told Khairy Ramadan on Al Kahera Wal Nas <a href=\"https:\/\/bit.ly\/3z7Ow26\">(watch, runtime: 1:51:05<\/a>). Those who register a second time should receive an appointment within 48 hours, Hosny said.<\/p>\n<p><strong>How do you register a second time? <\/strong>You\u2019re going to need to call the Health Ministry\u2019s covid-19 hotline on 15335 \u2014 there\u2019s no option to re-register on the website.<\/p>\n<p><strong>We tried it out and \u2026 we\u2019re still waiting. <\/strong>A number of us who are waiting for jabs called the hotline to re-register, but were unable to complete the process because we couldn\u2019t speak with anyone. One of us was put on hold for 20 minutes before the call failed, suggesting you\u2019ll need to set aside from time to call and keep trying.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/159608543017035?__cft__[0]=AZV89tCVAdB5cCKR8GTJdYXg3f6FNsDYfix40XXIP0FN2cdQLV8kfy57YGUJBxE0d-5gY_uJCUoaeWwPJaq50eZ8rELJ4St-3VsxD-zqReHOuBw4gdo1NIpHJHunvJFHPbDwaBJsbgjVjb96r9Uwsaj1&__tn__=%2CO%2CP-R\">reported<\/a><\/strong><strong> 491 new covid-19 infections yesterday<\/strong>, up from 471 the day before. Egypt has now disclosed a total of 293,448 confirmed cases of covid-19. The ministry also reported 14 new deaths, bringing the country\u2019s total death toll to 16,885.<\/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\/pfizer\/\">Pfizer<\/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=\"557322\" 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=\"557322\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/uae-targetsusd-1-tn-trading-relationship-with-israel-by-2030\/\">\r\n                            UAE targetsUSD 1 tn+ trading relationship with Israel by 2030                        <\/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\/09\/14\/uae-targetsusd-1-tn-trading-relationship-with-israel-by-2030\/\" 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 trading relationship is already worth USD 600-700 mn while bns of USD of investment has already been announced, including Mubadala\u2019s USD 1 bn purchase of a stake in Israel\u2019s Leviathan gas field.<\/p><p><strong>US crude rose to a six week high <\/strong>as concerns grew that the incoming Storm Nicolas will further disrupt supply from the Gulf of Mexico following Hurricane Ida just two weeks ago, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-09-12\/oil-extends-advance-as-u-s-supply-is-slow-to-return-after-ida?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>. Nearly 50% of US oil supply is located in the Gulf.<\/p><p><strong>The economic recovery in Saudi Arabia\u2019s private sector stumbled in the second<\/strong> <strong>quarter<\/strong>, with official figures showing yesterday that business\u2019 contribution to GDP fell to 48% from 50% in the first quarter, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-09-13\/saudi-private-sector-shrinks-as-covid-19-recovery-wobbles?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,140<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: +2.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>11,386<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: +31.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>7,764<\/p>\n<\/td>\n<td>\n<p>-0.7% (YTD: +53.9%)<\/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>2,888<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: +15.9%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,468<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: +19.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,068<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: +9.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 73.51<\/p>\n<\/td>\n<td>\n<p>+0.8%<\/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 5.20<\/p>\n<\/td>\n<td>\n<p>-0.6%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,794.90<\/p>\n<\/td>\n<td>\n<p>+0.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 45,129<\/p>\n<\/td>\n<td>\n<p>-0.2% (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 0.9% at yesterday\u2019s close<\/strong> on turnover of EGP 1.2 bn (21.6% below the 90-day average). Local investors were net sellers. The index is up 2.7% YTD.<\/p><p><strong>In the green: <\/strong>Egyptian Resorts Company (+5.9%), Palm Hills (+4.4%) and Cleopatra Hospitals (+2.4%).<\/p><p><strong>In the red: <\/strong>Raya (-0.8%) and Speed Medical (-0.4%).<\/p><p><strong>It\u2019s a mixed picture in the Asian markets this morning<\/strong> as traders await fresh US inflation data. Futures suggest that European and US shares will open in the green later today.<\/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\/electricity\/\">electricity<\/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\/opec\/\">OPEC<\/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<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"557323\">\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\">13<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/are-we-missing-out-on-potential-solar-power-generation\/\">\r\n                            Are we missing out on potential solar power generation?<\/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\/are-we-missing-out-on-potential-solar-power-generation\/\" 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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It\u2019s a little more complicated than just simply choosing a sunny, hot area. Other factors come into play, including how much dust, pollution and other environmental factors are present at a given location. This is where solar validation sites come in.<\/p>\n<p><strong>But do we really need them here?<\/strong> Despite this, Egypt doesn\u2019t appear to have any solar irradiance validation sites, according to the Africa-focused solar energy supplier and operator <a href=\"https:\/\/www.crossboundary.com\/energy\/about-us\/\">CrossBoundary Energy<\/a>. Inaccurate measurements, which appear to be systemic across the continent, could cause lower than expected energy output, higher prices for consumers and lower ROI for investors, they tell us. So in today\u2019s issue, we explore what exactly these sites are, how important they are, as well as asking local operators and regulators if they really are necessary.<\/p>\n<p><strong>Now what is a solar irradiance validation site, you ask?<\/strong> At their most basic form, these are sites that use a number of scientific instruments (namely pyranometers and pyrheliometers) that measure the exact amount of direct and indirect sunlight actually reaching the Earth\u2019s surface \u2014 which is technically known as <a href=\"https:\/\/www.energy.gov\/eere\/solar\/solar-radiation-basics\">solar irradiance<\/a>. The actual level of irradiance at a given location on this planet isn\u2019t solely a function of its proximity to the sun. It is in fact hugely influenced by factors like clouds, humidity, pollutants and dust. These validation sites are responsible for tracking and storing this information for more precise measurements that take into account changing climatic conditions in real time.<\/p>\n<p><strong>Why does this matter?<\/strong> Figuring out how much sunlight hits different parts of the planet is crucial for entities in the solar power business to determine where to best place their photovoltaic (pv) solar panels and to make predictions about pricing and future energy output.<\/p>\n<p><strong>Who\u2019s using them?<\/strong> Public irradiance validation sites exist in places as close as Israel, Jordan, Saudi Arabia and Tunisia. There are sites in <a href=\"https:\/\/solargis.com\/docs\/accuracy-and-comparisons\/overview\">most parts of the world<\/a> and cluster heavily in Europe and North America.<\/p>\n<p><strong>Our current methods for estimating solar irradiation relies on satellite imagery and meteorological models<\/strong> to map out the solar irradiation hotspots around the globe. <a href=\"https:\/\/solargis.com\/\">SolarGIS<\/a> is one such organization that provides maps indicating satellite-modeled pv power potential in different parts of the world. <a href=\"https:\/\/meteonorm.com\/en\/\">Meteonorm<\/a> is another tool that companies use to access data gathered from a combination of weather stations and satellite imagery to predict energy potential.<\/p>\n<p><strong>But satellite models alone might have their limitations: <\/strong>While satellite imagery provides us with good guesses about the amount of sunlight we can expect to get in different parts of the world based on long term climate patterns, they are unable to detect the exact amount of light ultimately reaching the Earth\u2019s surface, according to this <a href=\"https:\/\/www.crossboundary.com\/wp-content\/uploads\/2021\/07\/Cross-Boundary-Report-12-Pager_D4.pdf\">CrossBoundary Energy report (pdf)<\/a>. Satellite-based models of irradiation seem to more often than not overestimate the actual amount of sunlight hitting the earth by as much as 3-5% in two of CrossBoundary\u2019s operational sites in Kenya and Ghana. That figure goes up to 20% in locations outside major cities in Africa, the group says.<\/p>\n<p><strong>What do we stand to lose because of this? <\/strong>From a buyer\u2019s standpoint, someone relying on projections of savings from switching to solar power could miss out on as much as 4-5% of expected savings in major metropolitan areas and up to 20% if they are located outside cities in Africa, \u201cwhich tend to systematically overestimate\u201d solar production, Kathleen Jean-Pierre, Vision & Delivery Lead at CrossBoundary Energy tells us. Now if you\u2019re an energy investor with some skin in the solar game, CrossBoundary projects losses of 1% in investment rate of return because of the discrepancies between projections and actual output, which, depending on the size of the investment, could easily add up.<\/p>\n<p><strong>Local solar providers are not buying it: <\/strong>Companies like KarmSolar have still been able to maintain fairly accurate projections of energy production at their various sites across the country and avoid financial losses, Ahmed Zahran, the company\u2019s CEO tells us. This is because in the past 10 years since their founding, KarmSolar has been able to individually collect enough crucial operational data through their own sites that there is no longer any real need for public irradiance validation sites. Despite some minor fluctuations in weather patterns caused by climate change \u201call you need is about one year at a given site to give you the information you need to know about irradiation at a particular location to a pretty accurate level,\u201d Zahran says, which most solar utilities companies in Egypt are capable of doing. \u201cThis would have mattered five years ago, but we have so many stations around the country that these kinds of things aren't really necessary anymore,\u201d Zahran added.<\/p>\n<p><strong>We do have a number of government owned on-ground tools that help measure irradiation in different parts of the country<\/strong>, says Dr. Mohamed El Khayat, head of the New and Renewable Energy Authority. Although Khayat did not specify the precise instruments used or the sorts of data collected, he did mention that they play a role in <a href=\"https:\/\/ent.news\/2021\/9\/SOLAR-ATLAS-2018.pdf\">the NREA\u2019s irradiation maps (pdf)<\/a> of Egypt. There are of course limitations on just how much data the NREA can collect with its own resources, Khayat explains, which is why private solar utilities companies in Egypt are also required by the authority to conduct a year-long study on a potential location before building out their facilities.<\/p>\n<p><strong>It\u2019s tough to quantify how big of a problem irradiance overestimation presents Egyptian solar initiatives at the moment. <\/strong>Given that there are no publicly accessible irradiation validation sites to compare satellite models to, \u201cit\u2019s actually impossible to know whether or how much this same overestimation bias affects Egyptian projects,\u201d says Kathleen Jean Pierre, Vision & Delivery Lead at Crossboundary Energy. She suggests the uncertainty could cause complications for the industry\u2019s growth but the concern among local players at both the public and private level in the solar industry seems muted for now.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>Your top climate stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Solar power producer KarmSolar has launched its water solutions division <\/strong><strong>KarmWater with a <\/strong><strong>solar-powered water desalination project in Marsa Alam<\/strong>, the solar power developer and distributor <a href=\"https:\/\/ent.news\/2021\/9\/Press-Release-KarmSolar-launches-water-solutions-division-KarmWater.pdf\">announced (pdf)<\/a>. The new division provides fresh water through designing, building and operating solar-powered desalinations stations.<\/li>\n<li><strong>Suez Cement <\/strong><strong><a href=\"https:\/\/www.suezcement.com.eg\/en\/%20Waste%20Heat%20Recovery%20System\">is investing USD 20 mn<\/a><\/strong><strong> in building a waste heat recovery <\/strong><strong>system in its Helwan factory<\/strong> that will allow energy to be produced using excess heat from the production lines, generating up to 18MW of power and reducing CO2 emissions.<\/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\/ahmed-zahran\/\">Ahmed Zahran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/crossboundary-energy\/\">crossboundary energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/karmsolar\/\">KarmSolar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pv-solar-panels\/\">PV solar panels<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/solar-irradiance\/\">solar irradiance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/solar-irradiation\/\">solar irradiation<\/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=\"557325\" 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\/09\/14\/your-essential-business-calendar-on-14-september-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557325\" class=\"content-area-description single-story post-557325 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>10-17 September (Friday-Friday): <a href=\"http:\/\/cibegyptiansquashopen.net\/\">CIB Egyptian Squash Open<\/a>, Giza.<\/p>\n<p>12-15 September (Sunday-Wednesday): <a href=\"https:\/\/www.saharaexpo.com\/en\/home.html\">Sahara Expo<\/a>: the 33rd International Agricultural Exhibition for Africa and the Middle East.<\/p>\n<p>13-21 September (Monday-Tuesday): EFG Hermes\u2019 fourth Virtual Investor Conference.<\/p>\n<p>14-30 September (Tuesday-Thursday): <a href=\"https:\/\/www.un.org\/en\/ga\/\">76th session of the UN General Assembly<\/a>, New York.<\/p>\n<p>15 September (Wednesday): The <a href=\"https:\/\/bit.ly\/3dp0wnB\">CFO Leadership & Strategy Summit<\/a> is taking place in Egypt.<\/p>\n<p>16 September (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>18 September (Saturday): Expiration of<a href=\"https:\/\/www.rudaw.net\/english\/middleeast\/iraq\/19092020\">United Nations Investigative Team<\/a> to Promote Accountability for Crimes Committed by Daesh\/ISIL<\/p>\n<p>21-22 September (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>22-25 September (Wednesday-Saturday): <a href=\"https:\/\/www.cityscapeegypt.com\/en\/Home.html\">Cityscape Egypt<\/a>, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>29 September (Wednesday): <a href=\"https:\/\/devopsdays.org\/events\/2021-cairo\/welcome\/\">DevOpsDays Cairo 2021<\/a> is being organized by ITIDA and the Software Engineering Competence Center in cooperation with DXC Technology, IBM Egypt and Orange Labs.<\/p>\n<p>30 September-2 October (Thursday-Saturday): Egypt Projects 2021 expo, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>30 September-8 October (Thursday-Friday): The Cairo International Fair, Cairo International Conference Center, Cairo, Egypt.<\/p>\n<p>30 September: Closing of 2021\u2019s first oil and gas <a href=\"https:\/\/eug.petroleum.gov.eg\/dp\/pages\/common\/BidroundHighlights.jsp\">tender<\/a> in the Gulf of Suez, Western Desert, and the Mediterranean.<\/p>\n<p>30 September (Thursday): First tranche of overdue subsidy payouts <a href=\"https:\/\/bit.ly\/3BSLyAg\">will be handed<\/a> to eligible exporters.<\/p>\n<p>October: New legislative session begins \u2014 must be held by the first Thursday of October.<\/p>\n<p>October: Romanian President Klaus Iohannis <a href=\"https:\/\/bit.ly\/3z0gaic\">could visit Egypt<\/a> in mid this month to discuss ways to boost tourism cooperation between the two countries.<\/p>\n<p>1 October (Friday): Businesses importing goods at seaports will need to file shipping documents and cargo data digitally to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bf7988d-19f6-45a6-ada1-65d7c23ec723\">the Advance Cargo Information (ACI) system<\/a>.<\/p>\n<p>1 October (Friday): Expo 2020 Dubai opens.<\/p>\n<p>1 October (Friday): State-owned companies and government service bodies selling goods and services to customers that <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/178309171006178\">have not yet signed on to the e-invoicing platform<\/a> will suffer a host of penalties, including removal from large taxpayer classification, losing access to government services and business, and losing subsidies.<\/p>\n<p>6 October (Wednesday): Armed Forces Day.<\/p>\n<p>7 October (Thursday): National holiday in observance of Armed Forces Day.<\/p>\n<p>9 October (Saturday): Public schools begin 2021-2022 academic year<\/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>12-14 October (Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p>18 October (Monday): Prophet\u2019s Birthday.<\/p>\n<p>21 October (Thursday): National holiday in observance of the Prophet\u2019s Birthday.<\/p>\n<p>24-28 October (Sunday-Thursday) <a href=\"https:\/\/www.cairowaterweek.eg\/\">Cairo Water Week<\/a>, Cairo, Egypt.<\/p>\n<p>27-28 October (Wednesday-Thursday) <a href=\"https:\/\/platforms-root-technologies.com\/icec-2021\/\">Intelligent Cities Exhibition & Conference<\/a>, Royal Maxim Palace Kempinski, Cairo, Egypt.<\/p>\n<p>28 October (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>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>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>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>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>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>14-16 February 2022 (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>1H2022: The World Economic Forum annual meeting, location TBD.<\/p>\n<p>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><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":557298,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-557297","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"dd0c7803-2038-4dac-8fb3-a00d238c975b","teaser":"","photo_url":"https:\/\/ent.news\/2021\/9\/176.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>EGX could open the door for SPAC + Capiter is the latest fintech startup to close a huge fundraising round - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/egx-could-open-the-door-for-spac-capiter-is-the-latest-fintech-startup-to-close-a-huge-fundraising-round\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EGX could open the door for SPAC + Capiter is the latest fintech startup to close a huge fundraising round\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/egx-could-open-the-door-for-spac-capiter-is-the-latest-fintech-startup-to-close-a-huge-fundraising-round\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T01:38:09+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/176.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/egx-could-open-the-door-for-spac-capiter-is-the-latest-fintech-startup-to-close-a-huge-fundraising-round\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/egx-could-open-the-door-for-spac-capiter-is-the-latest-fintech-startup-to-close-a-huge-fundraising-round\/\",\"name\":\"EGX could open the door for SPAC + Capiter is the latest fintech startup to close a huge fundraising round - 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