{"id":557561,"date":"2021-09-23T03:52:57","date_gmt":"2021-09-23T03:52:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=557561"},"modified":"2025-12-16T01:44:23","modified_gmt":"2025-12-16T01:44:23","slug":"from-a-capital-gains-taxes-on-the-egx-starting-in-1-january-to-a-clampdown-on-retail-tax-evasion-the-taxman-will-get-his-due","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/from-a-capital-gains-taxes-on-the-egx-starting-in-1-january-to-a-clampdown-on-retail-tax-evasion-the-taxman-will-get-his-due\/","title":{"rendered":"From a capital gains taxes on the EGX starting in 1 January to a clampdown on retail tax evasion, the taxman will get his due"},"content":{"rendered":"<section id=\"557563\" 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=\"557563\">\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\/23\/this-morning-fed-taper-in-november-rate-hikes-in-2022-markets-rebound-biden-natsec-adviser-sullivan-to-visit-cairo-next-week-egypt-to-host-2022-ministerial-gas-forum\/\">\r\n                            THIS MORNING: Fed taper in November + rate hikes in 2022; Markets rebound; Biden NatSec adviser Sullivan to visit Cairo next week; Egypt to host 2022 Ministerial Gas Forum.                        <\/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\/23\/this-morning-fed-taper-in-november-rate-hikes-in-2022-markets-rebound-biden-natsec-adviser-sullivan-to-visit-cairo-next-week-egypt-to-host-2022-ministerial-gas-forum\/\" 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\/23\/this-morning-fed-taper-in-november-rate-hikes-in-2022-markets-rebound-biden-natsec-adviser-sullivan-to-visit-cairo-next-week-egypt-to-host-2022-ministerial-gas-forum\/')\">\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\/23\/this-morning-fed-taper-in-november-rate-hikes-in-2022-markets-rebound-biden-natsec-adviser-sullivan-to-visit-cairo-next-week-egypt-to-host-2022-ministerial-gas-forum\/\">\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: Fed taper in November + rate hikes in 2022; Markets rebound; Biden NatSec adviser Sullivan to visit Cairo next week; Egypt to host 2022 Ministerial Gas Forum.&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/this-morning-fed-taper-in-november-rate-hikes-in-2022-markets-rebound-biden-natsec-adviser-sullivan-to-visit-cairo-next-week-egypt-to-host-2022-ministerial-gas-forum\/\">\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\/23\/this-morning-fed-taper-in-november-rate-hikes-in-2022-markets-rebound-biden-natsec-adviser-sullivan-to-visit-cairo-next-week-egypt-to-host-2022-ministerial-gas-forum\/&title=THIS MORNING: Fed taper in November + rate hikes in 2022; Markets rebound; Biden NatSec adviser Sullivan to visit Cairo next week; Egypt to host 2022 Ministerial Gas Forum.\">\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+Fed+taper+in+November+%2B+rate+hikes+in+2022%3B+Markets+rebound%3B+Biden+NatSec+adviser+Sullivan+to+visit+Cairo+next+week%3B+Egypt+to+host+2022+Ministerial+Gas+Forum.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F23%2Fthis-morning-fed-taper-in-november-rate-hikes-in-2022-markets-rebound-biden-natsec-adviser-sullivan-to-visit-cairo-next-week-egypt-to-host-2022-ministerial-gas-forum%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\/23\/this-morning-fed-taper-in-november-rate-hikes-in-2022-markets-rebound-biden-natsec-adviser-sullivan-to-visit-cairo-next-week-egypt-to-host-2022-ministerial-gas-forum\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557563\" class=\"content-area-description single-story post-557563 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-african-development-bank tag-emmanuel-macron tag-enterpriseam tag-equities tag-evergrande tag-financial-markets tag-france tag-joe-biden 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>Well, friends, we\u2019ve nearly made it through another workweek together<\/strong>, and our reward is another very busy news morning, with everything from M&amp;A to taxation in the spotlight \u2014 and the promise of very nice weekend weather ahead.<\/p><p><strong>Tax: <\/strong>Domestic investors in the EGX (international shareholders are exempt) will want to pay really close attention to our story on the capital gains tax \u2014 it\u2019s coming into effect on 1 January. Also big is news that the state is piloting its business-to-consumer e-invoicing system, which will eventually require all retailers to report sales in real-time to the taxman.<\/p><p><strong>M&amp;A: <\/strong>A so-far unconfirmed report suggests Saudi\u2019s STC is lining up financing to make another run at Vodafone Egypt. Vodafone and (large) minority shareholder Telecom Egypt deny talks are back on.<\/p><p>We have chapter and verse on all of this and more below.<\/p><p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a> <strong>Fed taper in November + rate hikes in 2022:<\/strong> Federal Reserve boss Jerome Powell said that the central bank could begin unwinding its huge bond-buying programme in November, while policymakers signalled that they could move to raise interest rates next year. Speaking at the end of the central bank\u2019s two-day policy meeting yesterday, Powell said that an announcement \u201ccould come as soon as the next meeting,\u201d which will take place on 2-3 November.<\/p><p><strong>This is what most economists were forecasting:<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ecc762fe-fe8f-4f84-a816-323db1c01f3e\">Recent polls<\/a> have shown a majority of economists think the Fed will start to reduce its USD 120 bn a month in asset purchases before the end of the year, and start to raise interest rates next year.<\/p><p><strong>Any rate hikes will be gradual:<\/strong> With its benchmark overnight rate currently at near-zero, the Fed is not expected to raise rates to 1% until 2023 and then 1.8% in 2014.<\/p><p><strong>Markets celebrate:<\/strong> The Fed meeting boosted shares in the US, where all three major indexes saw gains following several days of Evergrande-fuelled volatility. The S&amp;P 500, Nasdaq and Dow Jones all gained 1% during yesterday\u2019s trading session, despite the hawkish tone. \u201cGiven the recent volatility, it\u2019s likely that investors are viewing the taper projection and potential 2022 rate hikes as a vote of confidence that the recovery is on track,\u201d one strategist told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-09-21\/asia-stocks-set-for-muted-open-with-focus-on-china-markets-wrap?sref=mmeFTDW1\">Bloomberg<\/a>.<\/p><p><strong>And the good news over at Evergrande yesterday is fuelling a rebound in <\/strong><strong>commodities:<\/strong> A Bloomberg index of 23 commodities ended four days of declines to rise 1.4% yesterday as investors\u2019 concerns about a default at China\u2019s second-largest real estate firm abated, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-09-22\/commodities-rebound-amid-oil-gains-and-easing-china-concerns?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> says.<\/p><p><strong>The story is everywhere in the global business press this morning:<\/strong> <a href=\"https:\/\/www.reuters.com\/business\/finance\/fed-likely-open-bond-buying-taper-door-hedge-outlook-2021-09-22\/\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-09-22\/fed-signals-bond-buying-taper-may-start-soon-split-on-2022-hike?srnd=premium&amp;sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.ft.com\/content\/719c11ec-fb24-40b3-a661-518aa3bc6028\">FT<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/fed-tees-up-taper-and-signals-rate-rises-possible-next-year-11632333617?mod=hp_lead_pos1\">Wall Street Journal<\/a>.<\/p><p><strong>Evergrande avoided default yesterday<\/strong> after striking an agreement with its creditors to delay an interest payment, and its shares surged in trading earlier today as the company\u2019s chairman <a href=\"https:\/\/www.cnbc.com\/2021\/09\/23\/asia-markets-china-evergrande-group-federal-reserve-currencies-oil.html\">tried to reassure investors<\/a>. <strong>But the FT is warning that it\u2019s not done and dusted<\/strong>, writing that \u201cdeepening worries over Evergrande have ignited selling in a USD 428 bn corner of the Asian debt market, underscoring how the crisis at the Chinese property developer is spreading to other assets.\u201d The salmon-colored paper says to keep an eye on a \u201ccrucial payment deadline\u201d later today.<\/p><hr class=\"grey-line\"><p><strong>French envoy to return to Washington after Biden call smooths over submarine row: <\/strong>French President Emmanuel Macron will send his US ambassador back to Washington, according to a <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2021\/09\/22\/joint-statement-on-the-phone-call-between-president-biden-and-president-macron\/\">joint French-US statement<\/a>, after US President Joe Biden on Wednesday called to soothe French anger over the signing of the Indo-Pacific \u201cAukus\u201d pact between the US, Australia and the UK. Biden struck a conciliatory tone in the statement, appearing to admit that Paris should have been kept in the loop on the pact, which earlier this week saw Australia dump a longstanding agreement to buy French submarines in favor of new nuclear subs from the US and UK.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p><p><strong>Egypt will host the 2022 Ministerial Gas Forum: <\/strong>Organized by the International Energy Forum and the International Gas Union (IEF-IGU), the event will take place in Egypt during the second half of 2022, and will have on its agenda the post-covid economic recovery, the current surge in natgas prices, and climate change, the IEF said in <a href=\"https:\/\/www.ief.org\/news\/egypt-to-host-8th-ief-igu-ministerial-gas-forum-in-2022\">a statement<\/a> yesterday.<\/p><p><strong>And we will also play host to the AfdDB\u2019s annual meeting in 2023:<\/strong> The African Development Bank\u2019s board has agreed that its five-day annual meeting will be held in Sharm El-Sheikh from 22 to 26 May 2023, the Central Bank of Egypt said in <a href=\"https:\/\/ent.news\/2021\/9\/AFDB-Press-Release-EN.pdf\">a statement (pdf)<\/a> yesterday<\/p><p><strong>It\u2019s Day 2 of the <\/strong><strong><a href=\"https:\/\/www.cityscapeegypt.com\/en\/Home.html\">Cityscape real estate investment conference<\/a><\/strong><strong> at the Egypt International <\/strong><strong>Exhibition Center.<\/strong> The event runs until 25 September.<\/p><p><strong>** IN CASE YOU MISSED IT <\/strong>\u2014 top stories from yesterday\u2019s edition of EnterprisePM:<\/p><ul>\n<li><strong>Egypt has <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/184cdfa3-d469-49d0-9975-40ab68617c8a\">infrastructure ready<\/a><\/strong><strong> to store up to 4 mn doses of Pfizer\u2019s covid-19 jab<\/strong>, according to Health Minister Hala Zayed, who noted that the country is prepared to receive a batch of Pfizer over the weekend.<\/li>\n<li><strong>The EGX30 snapped a five-day losing streak<\/strong>, ending the session up 0.9% at the closing bell at the same time as global markets sighed in (muted?) relief after China Evergrande appeared to have negotiated an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/184cdfa3-d469-49d0-9975-40ab68617c8a\">agreement with its bondholders<\/a>.<\/li>\n<li><strong>How are Egypt and global business leaders coping with the stresses of 2021? <\/strong>Let\u2019s just say that it\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bc6b96bd-c5c5-41f9-8f40-1a6be987b4a7\">not as well as we\u2019d like<\/a>.<\/li>\n<\/ul><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>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>In town next week: <\/strong>White House National Security adviser Jake Sullivan will visit Cairo next week as part of a brief Middle East tour that will take him to Saudi Arabia and the UAE, sources with knowledge of the matter tell <a href=\"https:\/\/www.axios.com\/jake-sullivan-middle-east-saudi-arabia-231510ce-d699-4108-8bda-5db7f4621df2.html\">Axios<\/a>.<\/p><p><strong>Conference season continues next week<\/strong> with ITIDA\u2019s <a href=\"https:\/\/devopsdays.org\/events\/2021-cairo\/welcome\/\">DevOpsDays Cairo 2021<\/a>, which is being organized together with Software Engineering Competence Center, DXC Technology, IBM Egypt and Orange Labs. The event will take place on Wednesday, 29 September. Other events include:<\/p><ul>\n<li><strong>Egypt Projects 2021 construction expo<\/strong>, which will take place at the Egypt International Exhibition Center on 30 September-2 October.<\/li>\n<li><strong>The Cairo International Fair<\/strong>, which will take place on <strong>30 September-8 October<\/strong> at the Cairo International Conference Center.<\/li>\n<li>The deadline to register for the <strong>AUC Business School\u2019s <\/strong><strong><a href=\"https:\/\/business.aucegypt.edu\/execed\/individual-programs\/private-equity-diploma\">Private Equity Diploma<\/a><\/strong> is coming up on <strong>28 September<\/strong>.<\/li>\n<\/ul><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\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\/african-development-bank\/\">African Development Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emmanuel-macron\/\">Emmanuel Macron<\/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\/evergrande\/\">Evergrande<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/joe-biden\/\">Joe Biden<\/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=\"557564\" 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=\"557564\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/557564\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557564\" class=\"content-area-description single-story post-557564 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\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=\"557565\" 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=\"557565\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/is-vodafone-egypt-back-in-play\/\">\r\n                            Is Vodafone Egypt back in play?                        <\/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\/23\/is-vodafone-egypt-back-in-play\/\" 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\/23\/is-vodafone-egypt-back-in-play\/')\">\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\/23\/is-vodafone-egypt-back-in-play\/\">\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=Is Vodafone Egypt back in play?&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/is-vodafone-egypt-back-in-play\/\">\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\/23\/is-vodafone-egypt-back-in-play\/&title=Is Vodafone Egypt back in play?\">\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=Is+Vodafone+Egypt+back+in+play%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F23%2Fis-vodafone-egypt-back-in-play%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\/23\/is-vodafone-egypt-back-in-play\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/323.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557566\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/is-vodafone-egypt-back-in-play\/323-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/323.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"323.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/323.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/323.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557565\" class=\"content-area-description single-story post-557565 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-debt tag-enterpriseam tag-ma-watch tag-saudi-telecom-company tag-vodafone-egypt 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>Is Saudi\u2019s STC making another run at Vodafone Egypt?<\/strong> Saudi Telecom (STC) may be resurrecting its bid to acquire a majority stake in Vodafone Egypt, nine months after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e92d627-df3f-439a-b32a-8f7183ef4cd6\">talks<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e92d627-df3f-439a-b32a-8f7183ef4cd6\">broke down<\/a> with its parent company. Banking sources tell <a href=\"https:\/\/bit.ly\/2XG9bNt\">CNBC Arabia<\/a> that the Saudi company is looking to secure a USD 1.1 bn soft loan to help finance the acquisition.<\/p>\n<p><strong>Back from the dead?<\/strong> STC was in talks with Vodafone Plc for most of last year to acquire its 55% stake in its local subsidiary. The Saudi firm initially valued the company at USD 4.4 bn after submitting a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ec10025b-169b-47c4-a0b7-a14f8b6618ee\">USD 2.39 bn non-binding offer<\/a> for the stake, but later tried to negotiate a lower price after the onset of covid-19. After a series of delays and expired deadlines, Vodafone announced in December that talks had collapsed, but didn\u2019t provide a reason.<\/p>\n<p><strong>CNBC claims that the two companies are back in talks<\/strong>, saying unnamed sources tell it there are \u201congoing negotiations.\u201d<\/p>\n<p><strong>Vodafone and Telecom Egypt denied there are talks:<\/strong> A company official told <a href=\"https:\/\/bit.ly\/3AxVv5O\">Youm7<\/a> that there are no ongoing talks with STC. Telecom Egypt, which owns 45% of Vodafone Egypt, denied knowledge of the news in a <a href=\"https:\/\/ent.news\/2021\/9\/We.pdf\">statement (pdf)<\/a>.<\/p>\n<p><strong>STC is coming off a successful IPO in Saudi Arabia:<\/strong> STC has just raised almost USD 1 bn after selling 20% of its solutions subsidiary in an IPO on the Tadawul, it <a href=\"https:\/\/asia.tools.euroland.com\/tools\/Pressreleases\/GetPressRelease\/?ID=3966013&lang=en-GB&companycode=sa-stc&v=ticker\">announced<\/a> yesterday.<\/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\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-telecom-company\/\">Saudi Telecom Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vodafone-egypt\/\">Vodafone Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557567\" 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=\"557567\">\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\">CAPITAL GAINS TAX<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/the-capital-gains-tax-is-definitely-coming-to-the-egx-on-1-jan\/\">\r\n                            The capital gains tax is definitely coming to the EGX on 1 Jan                        <\/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\/23\/the-capital-gains-tax-is-definitely-coming-to-the-egx-on-1-jan\/\" 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\/23\/the-capital-gains-tax-is-definitely-coming-to-the-egx-on-1-jan\/')\">\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\/23\/the-capital-gains-tax-is-definitely-coming-to-the-egx-on-1-jan\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The capital gains tax is definitely coming to the EGX on 1 Jan&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/the-capital-gains-tax-is-definitely-coming-to-the-egx-on-1-jan\/\">\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\/23\/the-capital-gains-tax-is-definitely-coming-to-the-egx-on-1-jan\/&title=The capital gains tax is definitely coming to the EGX on 1 Jan\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+capital+gains+tax+is+definitely+coming+to+the+EGX+on+1+Jan+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F23%2Fthe-capital-gains-tax-is-definitely-coming-to-the-egx-on-1-jan%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\/23\/the-capital-gains-tax-is-definitely-coming-to-the-egx-on-1-jan\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/324.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557568\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/the-capital-gains-tax-is-definitely-coming-to-the-egx-on-1-jan\/324-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/324.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"324.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/324.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/324.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557567\" class=\"content-area-description single-story post-557567 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-gains-tax tag-capital-gains-tax tag-egx tag-egyptian-capital-market-association tag-enterpriseam tag-finance-ministry tag-mohamed-maait tag-prime-holding tag-tax wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>The EGX capital gains tax will come into force in Jan after all:<\/strong> Finance Minister Mohamed Maait confirmed in an interview with <a href=\"https:\/\/bit.ly\/2XHMoRG\">CNBC Arabia<\/a> earlier this week that a 10% tax on the gains investors make on EGX transactions will be coming into effect on 1 January, putting an end to speculation on whether the long-planned levy would be implemented, postponed or axed come 2022.<\/p>\n<p><strong>We\u2019ve been aware since last year that the CGT could make a comeback:<\/strong> As part of a raft of measures to support investment in Egyptian equities during the pandemic, the government last year <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1154689d-294f-4d45-95b4-84a76d67466c\">postponed the reintroduction of a capital gains tax<\/a> on EGX transactions until 1 January 2022.<\/p>\n<p><strong>But things were thrown into confusion earlier this month<\/strong> when the Finance Ministry seemed to indicate that it would not be introducing new taxes on shares. Tax regulations published by local media suggested that the 10% tax would come into force on 1 January as expected, which the ministry quickly denied, saying the regs had been issued to clarify pre-existing rules and were not an indicator of a new tax on shares.<\/p>\n<p><strong>So who will be taxed, and on what basis? <\/strong>The 10% CGT will be imposed on net portfolio earnings at the end of the tax year, after deducting brokerage fees. <strong>Foreign investors in the bourse won\u2019t pay a dime<\/strong>, as the new rules apply only to people and companies residing in Egypt. The Tax Authority has said that institutional investors with portfolios exceeding EGP 5 mn will likely be required to open a tax file to pay the tax, Prime Holdings CEO and Egyptian Capital Market Association (ECMA) President Mohamed Maher told <a href=\"https:\/\/bit.ly\/3hYLh7v\">Al Arabiya<\/a>. The EGX\u2019s smaller retail investors \u2014 who account for 80% of EGX traders \u2014 won\u2019t need to do so as the tax will be deducted by Misr for Central Clearing and Depository.<\/p>\n<p><strong>Wait \u2014 it\u2019s based on your portfolio gains, and not on a per-stock basis? <\/strong>That\u2019s according to a copy of the executive regulations published earlier this month by <a href=\"https:\/\/www.elbalad.news\/4949985\">El Balad<\/a>, which says the CGT will be calculated based on the \u201cnet realized capital gains of [the investor\u2019s] <em>portfolio of securities <\/em>as of the end of the tax year.\u201d Industry watchers were concerned earlier this month that the tax would be levied on a per-stock and not portfolio basis \u2014 an approach that flies in the face of global practice. <strong>We\u2019re reaching out to the Tax Authority for clarification on this point and will report back when we have news.<\/strong><\/p>\n<p><strong>Plans to slap a tax on EGX investors have been in the works since 2015.<\/strong> They were first <a href=\"https:\/\/enterprise.press\/stories\/2017\/01\/22\/stock-market-stamp-tax-could-be-reintroduced-govt-looking-to-suspend-capital-gains-tax\/\">postponed until 2017<\/a> after retail investors howled, before being <a href=\"https:\/\/enterprise.press\/stories\/2017\/03\/16\/cabinets-economic-group-approves-stamp-tax\/\">replaced<\/a> by 0.125% stamp tax as the CGT was put on hold for three years. Talks were<a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/28\/finmin-egyptian-bourse-are-in-serious-talks-over-amending-capital-gains-tax-framework\/\">reportedly<\/a> held in 2019 on plans to revive the CGT for 2020, before the pandemic arrived and the government postponed its reintroduction until 1 January 2022, as part of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1154689d-294f-4d45-95b4-84a76d67466c\">a raft of measures<\/a> to support investment in Egyptian equities.<\/p>\n<p><strong>Realized gains on investments in privately held companies will still be taxed at a 20% rate<\/strong> under the regulations \u2014 a figure that we think is ridiculous and should be cut to match the 10% CGT on investments in listed companies.<\/p>\n<p><strong>But is the timing right? (And will it ever be right, in the eyes of retail investors?) <\/strong>The ECMA should point out that this is not the appropriate time to introduce the capital gains tax, Maher told the newspaper, stating that the EGX is still in recovery. The benchmark EGX30 is again in the red for the year to date after briefly crawling into positive territory. Egypt\u2019s benchmark index is down 2.3% YTD, while regional competitors for global capital are all handily in the green: ADX is up 54% as of this morning, while Tadawul is ahead nearly 30% for the year and DFM has gained a comparatively anemic 14% YTD. Trading volumes have been reasonable in 2021 (by the standards of recent years), but have been dominated by retail investors (first and foremost), followed by local institutions. Foreign investors are yet to return to the EGX.<\/p>\n<p><strong>The move will please the IMF, if not local investors: <\/strong>The International Monetary Fund (IMF) has been <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2015-05-24\/imf-criticizes-egypt-s-decision-to-delay-capital-gains-tax?sref=mmeFTDW1\">critical<\/a> about the lack of a CGT in Egypt, which it has said would leave poorer Egyptians shouldering a disproportionate tax burden. It\u2019s yet to be seen whether policymakers have been justified in their fear that the levy would have a dampening effect on local investment in the bourse.<\/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\/capital-gains-tax\/\">CAPITAL GAINS TAX<\/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\/egyptian-capital-market-association\/\">Egyptian Capital Market Association<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/prime-holding\/\">Prime Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557569\" 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=\"557569\">\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\">Tax<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/and-so-it-begins\/\">\r\n                            And so it begins...                        <\/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\/23\/and-so-it-begins\/\" 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\/23\/and-so-it-begins\/')\">\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\/23\/and-so-it-begins\/\">\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=And so it begins...&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/and-so-it-begins\/\">\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\/23\/and-so-it-begins\/&title=And so it begins...\">\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=And+so+it+begins...+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F23%2Fand-so-it-begins%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\/23\/and-so-it-begins\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/325.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557570\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/and-so-it-begins\/325-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/325.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"325.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/325.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/325.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557569\" class=\"content-area-description single-story post-557569 post type-post status-publish format-standard has-post-thumbnail hentry category-tax tag-enterpriseam tag-informal-economy tag-mohamed-maait tag-tax wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-03\" class=\"content-anchor\"><\/a> <strong>A pilot program for B2C e-invoicing has kicked off:<\/strong> The Finance Ministry has announced the rollout of electronic invoicing for business-to-consumer transactions, marking a new phase of the government\u2019s efforts to bring more Egyptian businesses into the formal economy and and make it more difficult to avoid giving the taxman his due.<\/p>\n<p><strong>Some 100 companies are taking part in a six-month trial phase during which they will need to record all transactions via a real-time electronic system<\/strong>, Finance Minister Mohamed Maait announced at a presser yesterday, kicking off a process that will eventually see all of the country\u2019s B2C sales logged with the Tax Authority.<\/p>\n<p><strong>Say goodbye to the days of having two sets of books:<\/strong> All sales will be logged in a central database using sales data controller (SDC) devices installed in traders\u2019 point-of-sale (POS) machines, enabling the Tax Authority to monitor and verify transactions. SDCs should be compatible with most POS machines used by retailers and service providers, meaning implementation should be relatively simple \u2014 and, of course, that <strong>your friendly neighborhood systems integrator is going to be laughing all the way to the bank.<\/strong><\/p>\n<p><strong>Who\u2019s on board?<\/strong> Among the 100 companies taking part in the pilot are consumer electronics giant <strong>El Araby<\/strong>, hypermarket <strong>Carrefour<\/strong>, retailer <strong>Awlad Ragab<\/strong> and auto distributor <strong>Kia<\/strong>. The government is in the process of distributing the devices to the participating companies, after which they will be expected to immediately begin logging transactions.<\/p>\n<p><strong>The timetable:<\/strong> Retailers will be the first companies to join the system followed by the services industry in a later phase, according to Maait. Hypermarkets, grocers, pharmacies and auto distributors will be included in the first phase, though e-commerce companies will be on-boarded at a later date. Unlike for B2B transactions, the ministry has not set any target dates for completion, and expects the process of integrating all shops, businesses, and service providers into the scheme to take years.<\/p>\n<p><strong>The idea is to cut down on tax evasion<\/strong> and integrate informal businesses into the formal economy, Maait said. The ministry believes the system could eventually <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bd3ab8f6-e6bc-4562-9904-eb485b5cb217\">double the government\u2019s tax revenues<\/a> from EGP 1 tn to around EGP 2 tn.<\/p>\n<p><strong>B2B e-invoicing is already well under way:<\/strong> All 2.8k of the country\u2019s large taxpayers are now issuing e-invoices via the ministry\u2019s digital tax platform, and they are <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bd3ab8f6-e6bc-4562-9904-eb485b5cb217\">set to be joined later this year<\/a> by Cairo-based joint stock companies, investment companies, public sector businesses and government agencies. The ministry is expecting to have all of the country\u2019s taxpayers filing B2B e-invoices for transactions <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7ffbf62-2086-4872-9cb4-37cb4716bab0\">by April 2023<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/informal-economy\/\">informal economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557571\" 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=\"557571\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/weve-received-2-9-mn-doses-of-astrazeneca-this-week-by-our-count\/\">\r\n                            We\u2019ve received 2.9 mn doses of AstraZeneca this week, by our count                        <\/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\/23\/weve-received-2-9-mn-doses-of-astrazeneca-this-week-by-our-count\/\" 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\/23\/weve-received-2-9-mn-doses-of-astrazeneca-this-week-by-our-count\/')\">\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\/23\/weve-received-2-9-mn-doses-of-astrazeneca-this-week-by-our-count\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=We\u2019ve received 2.9 mn doses of AstraZeneca this week, by our count&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/weve-received-2-9-mn-doses-of-astrazeneca-this-week-by-our-count\/\">\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\/23\/weve-received-2-9-mn-doses-of-astrazeneca-this-week-by-our-count\/&title=We\u2019ve received 2.9 mn doses of AstraZeneca this week, by our count\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=We%E2%80%99ve+received+2.9+mn+doses+of+AstraZeneca+this+week%2C+by+our+count+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F23%2Fweve-received-2-9-mn-doses-of-astrazeneca-this-week-by-our-count%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\/23\/weve-received-2-9-mn-doses-of-astrazeneca-this-week-by-our-count\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557571\" class=\"content-area-description single-story post-557571 post type-post status-publish format-standard hentry category-covid-watch tag-astrazeneca tag-covax tag-covid-19 tag-enterpriseam tag-joe-biden tag-uae tag-uk tag-us tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-04\" class=\"content-anchor\"><\/a> <strong>Egypt received 1.5 mn doses of AstraZeneca vaccines yesterday<\/strong>, the Health Ministry <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/videos\/891877671694435\">announced<\/a>, without citing the origin of the shipment.<\/p>\n<p><strong>We also received 851k doses of AstraZeneca vaccines on Monday<\/strong>, supplied by Germany under the Gavi \/ Covax program, Unicef <a href=\"https:\/\/www.facebook.com\/UNICEFEgypt\/posts\/4134420900014573\">announced<\/a> on Tuesday. That\u2019s in addition to 546k AstraZeneca vaccine doses received from the French government on Sunday, for a total of <strong>2.9 mn doses of AstraZeneca so far this week<\/strong>. Health Minister spokesperson Khaled Megahed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c4462b8b-f59c-42de-b693-7a9d288c20bc\">on Monday said<\/a> Egypt is expecting to receive around 3.5-4 mn doses of AstraZeneca this week from France, Germany, Greece and Poland, after Health Minister Hala Zayed last week said we were expecting only <a href=\"https:\/\/enterprise.press\/stories\/2021\/09\/16\/health-ministry-says-13-mn-egyptians-have-now-been-jabbed-53682\/\">100-250k doses<\/a> of AstraZeneca by an undetermined date.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/166625818981974?__cft__[0]=AZVXW6ezMtVE98wHcz5Zn0uaTzHAIu2gT0HJEFME0mPbWocJlOSAtpcnGXGOpeLb1skgJEybLEc_tolivz6fB50gnu8P2TUuHViGlU4NokAOL5CG490hetC-1IeIFMmff_m-6M2As7vx4uge6kpnZdUk&__tn__=%2CO%2CP-R\">reported<\/a><\/strong><strong> 692 new covid-19 infections yesterday<\/strong>, up from 688 the day before. Egypt has now disclosed a total of 298,988 confirmed cases of covid-19. The ministry also reported 27 new deaths, bringing the country\u2019s total death toll to 17,043.<\/p>\n<p><strong>IN GLOBAL COVID NEWS-<\/strong><\/p>\n<p><strong>The US has pledged to donate another 500 mn doses of the Pfizer vaccine through <\/strong><strong>Covax starting in January<\/strong>, according to <a href=\"https:\/\/www.reuters.com\/world\/us\/biden-pledges-new-vaccine-donations-bid-rally-global-pandemic-fight-2021-09-22\/\">Reuters<\/a>. The new doses for low and middle-income countries will bring the number of jabs donated by the US to over 1.1 bn.<\/p>\n<p><strong>Global health experts welcomed the donation \u2014 but said it was still insufficient<\/strong>, estimating that 5-9 bn shots are needed to vaccinate the world\u2019s population. They also noted that the Pfizer vaccine poses difficulties for developing nations, which often lack the necessary shipping and storage infrastructure. Biden said USD 750 mn in total would be allocated to help distribute and administer the jabs.<\/p>\n<p><strong>The UK will accept vaccination certificates issued in the UAE starting 4 October<\/strong>, the British embassy said on <a href=\"https:\/\/twitter.com\/ukinuae\/status\/1440585917157109761\">Twitter<\/a> yesterday, opening one of the busiest flight routes in the world between two major business hubs. The UK will only accept certificates of people who have received the AstraZeneca, Pfizer, Moderna or Johnson Johnson vaccines. The easing of restrictions comes as Dubai prepares to open its doors for the Expo 2020 which begins on 1 October.<\/p>\n<p><strong>When will it be Egypt\u2019s turn?<\/strong> \u201cWe are now working with the Egyptian government to come up with a mechanism that will make vaccination certificates, for those who received the vaccine in Egypt, recognized in the UK,\u201d the British embassy <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/03e7cbb4-217d-47a6-83b1-133b3f9c5635\">said Tuesday<\/a>, without providing further details.<\/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\/astrazeneca\/\">AstraZeneca<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covax\/\">Covax<\/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\/joe-biden\/\">Joe Biden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uk\/\">UK<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/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=\"557572\" 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=\"557572\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/cira-to-borrow-egp-260-mn-to-fund-capex\/\">\r\n                            CIRA to borrow EGP 260 mn to fund capex                        <\/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\/23\/cira-to-borrow-egp-260-mn-to-fund-capex\/\" 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\/23\/cira-to-borrow-egp-260-mn-to-fund-capex\/')\">\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\/23\/cira-to-borrow-egp-260-mn-to-fund-capex\/\">\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=CIRA to borrow EGP 260 mn to fund capex&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/cira-to-borrow-egp-260-mn-to-fund-capex\/\">\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\/23\/cira-to-borrow-egp-260-mn-to-fund-capex\/&title=CIRA to borrow EGP 260 mn to fund capex\">\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=CIRA+to+borrow+EGP+260+mn+to+fund+capex+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F23%2Fcira-to-borrow-egp-260-mn-to-fund-capex%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\/23\/cira-to-borrow-egp-260-mn-to-fund-capex\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/329.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557573\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/cira-to-borrow-egp-260-mn-to-fund-capex\/329-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/329.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"329.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/329.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/329.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557572\" class=\"content-area-description single-story post-557572 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-banque-du-caire tag-banque-misr tag-cira-education tag-debt tag-debt-watch tag-education tag-enterpriseam tag-national-bank-of-egypt 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>CIRA will borrow EGP 260 mn from an undisclosed Egyptian bank to fund <\/strong><strong>upcoming projects<\/strong>, it announced in a <a href=\"https:\/\/ent.news\/2021\/9\/CIRA.pdf\">bourse filing (pdf)<\/a> yesterday after the board greenlit the decision. The statement doesn\u2019t provide further information and a company spokesperson was not immediately available for comment.<\/p>\n<p><strong>What we know about the CIRA\u2019s borrowing plans:<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad7492c3-018d-4177-acd7-12141912af95\">The company has been in talks<\/a> with a syndicate of international banks to obtain financing for its planned applied tech university, negotiating with three banks for a credit facility that would cover 40-50% of the EGP 2 bn project.<\/p>\n<p><strong>The education company and its subsidiary Eduhive are eyeing major expansion:<\/strong> CIRA will <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad7492c3-018d-4177-acd7-12141912af95\">invest EGP 500 mn<\/a> to set up four language schools in Qena, New Assiut, New Rashid and El Alamein by 2022. It expects <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8d77b1b1-551a-4992-a0ff-3591c6dc48a8\">to launch<\/a> Egypt\u2019s first private sector technical college in September 2023, while Cairo Egypt for Education (CEE) \u2014 a JV between CIRA and Elsewedy Capital Holding \u2014 is planning to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/70e4da61-f321-4186-a485-64aff2143837\">build and run a EGP 2.5 bn university<\/a> on a 58-feddan plot in New Damietta.<\/p>\n<p><strong>IN OTHER CIRA NEWS- <\/strong><strong>The company will distribute EGP 100 mn in dividends to shareholders for the fiscal year <\/strong><strong>2019-20<\/strong>, paying out around EGP 0.17 per share, the company said in a separate <a href=\"https:\/\/ent.news\/2021\/9\/CIRA-1.pdf\">disclosure (pdf)<\/a> to the EGX yesterday.<\/p>\n<hr class=\"grey-line\">\n<p><strong>MEANWHILE- State banks to lend EUR 152 mn to Wotech for green MDF factory:<\/strong> Banque du Caire, the National Bank of Egypt (NBE) and Banque Misr will lend EUR 152 mn to state-owned woodmaker Wotech to establish a factory producing MDF wood from rice straw, NBE said in <a href=\"https:\/\/ent.news\/2021\/9\/WOTECH-financing-statement.pdf\">a statement (pdf)<\/a>. The project aims to reduce air pollution caused by the burning of rice straw, a widespread agricultural practice at the end of the harvest season.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-du-caire\/\">Banque du Caire<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/cira-education\/\">CIRA Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-bank-of-egypt\/\">National Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557574\" 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=\"557574\">\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\">Education<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/egypt-education-platform-expands-to-alexandria-adding-aia-international-school-to-its-portfolio\/\">\r\n                            Egypt Education Platform expands to Alexandria, adding AIA International School to its portfolio                        <\/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\/23\/egypt-education-platform-expands-to-alexandria-adding-aia-international-school-to-its-portfolio\/\" 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\/23\/egypt-education-platform-expands-to-alexandria-adding-aia-international-school-to-its-portfolio\/')\">\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\/23\/egypt-education-platform-expands-to-alexandria-adding-aia-international-school-to-its-portfolio\/\">\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 Education Platform expands to Alexandria, adding AIA International School to its portfolio&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/egypt-education-platform-expands-to-alexandria-adding-aia-international-school-to-its-portfolio\/\">\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\/23\/egypt-education-platform-expands-to-alexandria-adding-aia-international-school-to-its-portfolio\/&title=Egypt Education Platform expands to Alexandria, adding AIA International School to its portfolio\">\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+Education+Platform+expands+to+Alexandria%2C+adding+AIA+International+School+to+its+portfolio+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F23%2Fegypt-education-platform-expands-to-alexandria-adding-aia-international-school-to-its-portfolio%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\/23\/egypt-education-platform-expands-to-alexandria-adding-aia-international-school-to-its-portfolio\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/331.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557575\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/egypt-education-platform-expands-to-alexandria-adding-aia-international-school-to-its-portfolio\/331-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/331.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"331.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/331.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/331.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557574\" class=\"content-area-description single-story post-557574 post type-post status-publish format-standard has-post-thumbnail hentry category-education tag-ahmed-wahby tag-education tag-egypt-education-platform tag-enterpriseam tag-gems wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>The Egypt Education Platform (EEP) has signed an agreement to add Alexandria\u2019s <\/strong><strong><a href=\"https:\/\/aia-alex.com\/\">AIA<\/a><\/strong><strong><a href=\"https:\/\/aia-alex.com\/\">International School<\/a><\/strong><strong> to its portfolio<\/strong>, it announced in <a href=\"https:\/\/ent.news\/2021\/9\/Egypt-Education-Platform-press-release-21.9.21.pdf\">a statement (pdf)<\/a> yesterday, without disclosing a value for the transaction or how it would be financed. The campus was developed on a built-to-lease basis and can accommodate up to 1k students, according to the statement.<\/p>\n<p><strong>This marks EEP\u2019s fifth investment in Egypt \u2014 and its first outside of Cairo:<\/strong> This is an important step in EEP\u2019s geographical expansion plans, allowing the platform to diversify by offering the International Baccalaureate (IB) for the first time, the statement says. \u201cAIA is an ideal partner to be our first venture in Alexandria, which strongly complements our geographical expansion plan,\u201d said EEP\u2019s CEO Ahmed Wahby. Bringing AIA onto the EEP portfolio will help to establish a strong IB base within the platform and fast track AIA\u2019s growth, he added.<\/p>\n<p><strong>AIA will join several other schools in the EEP\u2019s international school stream:<\/strong> These include Hayah International Academy, GEMS British International School Madinaty and GEMS British School Rehab. It also has two other international schools under development: GEMS International School Cairo is scheduled to open in New Cairo in September 2022, while GEMS International School Soma Bay is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/187c9bd4-1d77-4a88-ba9e-ca49c3fcec3f\">set to open in September 2023<\/a>.<\/p>\n<p><strong>The EEP is the management company managing the assets of <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f322b811-078e-4543-b1d1-47696be7f5f3\">the Egypt Education Fund<\/a><\/strong><strong>, <\/strong><strong>and it\u2019s growing rapidly.<\/strong><sup><\/sup> It has added seven schools to its portfolio since it was <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/21\/efg-gems-partner-up-on-new-k-12-education-platform-in-egypt\/\">established in 2018<\/a>, and currently serves more than 8k students.<\/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\/ahmed-wahby\/\">Ahmed Wahby<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-education-platform\/\">Egypt Education Platform<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gems\/\">GEMS<\/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=\"557576\" 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=\"557576\">\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\">Sustainability<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/ebrd-pledges-nearly-usd-1-bn-increase-in-green-cities-investments-worldwide\/\">\r\n                            EBRD pledges nearly USD 1 bn increase in Green Cities investments worldwide                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div 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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\/23\/ebrd-pledges-nearly-usd-1-bn-increase-in-green-cities-investments-worldwide\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/332.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557577\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/ebrd-pledges-nearly-usd-1-bn-increase-in-green-cities-investments-worldwide\/332-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/332.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"332.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/332.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/332.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557576\" class=\"content-area-description single-story post-557576 post type-post status-publish format-standard has-post-thumbnail hentry category-sustainability tag-energy tag-enterpriseam tag-green-economy tag-infrastructure tag-sdgs tag-sustainability wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The European Bank for Reconstruction and Development (EBRD) will nearly <\/strong><strong>double its \u201cpriority investments\u201d in its Green Cities program to around EUR 1.9 bn by end-2023<\/strong>, up from EUR 1.01 bn as of this August, according to a <a href=\"https:\/\/www.ebrd.com\/news\/2021\/ebrd-launches-energy-compact-for-its-urban-sustainability-programme.html\">statement.<\/a> Under the newly announced Green Cities Compact, the European development bank will also increase the number of action plans in place for the cities in its flagship urban greening program to 50 in the same period, up from a current 19.<\/p>\n<p><strong>Does this mean more green funding for Egypt? <\/strong>The statement gave few details on exactly how and where the funding will be allocated, but in theory this could mean additional money for sustainable infrastructure in Cairo, Alexandria and Sixth of October, all of which are members of the Green Cities initiative. <a href=\"https:\/\/www.ebrd.com\/news\/2019\/cairo-becomes-30th-participant-in-fastgrowing-ebrd-green-cities-.html\">Cairo<\/a> and Alexandria joined the initiative in 2019 and both have Green City Action Plans (GCAPs) in place, while the Sixth of October GCAP is still in development after the city <a href=\"https:\/\/www.ebrdgreencities.com\/news-events-and-publications\/ebrd-green-cities-welcomes-6th-of-october-city-to-its-programme\/\">signed up<\/a> earlier this year.<\/p>\n<p><strong>Two projects in Egypt are currently in line for Green Cities funding<\/strong>: The bank recently signed off on the <a href=\"https:\/\/www.ebrd.com\/news\/2021\/ebrd-finances-6th-of-october-dry-port-in-egypt-under-ebrd-green-cities-.html\">EUR 25 mn loan<\/a> that will help finance the construction of the Sixth of October Dry Port, while <a href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/49905.html\">a EUR 250 mn facility<\/a> to fund the upgrade and electrification of the Abu Qir metro in Alexandria is pending approval.<\/p>\n<p><strong>This is the second Green Cities funding pledge this month:<\/strong> Earlier this month, the EBRD said it would add <a href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/53170.html\">an additional EUR 2 bn<\/a> to its <a href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/50674.html\">Green Cities Framework 2 Window 2<\/a>, bringing the program\u2019s total funds to EUR 3.65 bn.<\/p>\n<p><strong>IN OTHER EBRD NEWS- <\/strong>CI Capital\u2019s microfinance arm Reefy has secured EGP 80 mn in development finance from an EBRD program for women in business, International Cooperation Minister Rania Al Mashat said in a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/230701612433600\">cabinet statement<\/a>. The lender will allocate the money to Egyptian women-led MSMEs, who will also receive technical and business support through the scheme, the statement read.<\/p>\n<p><strong>IN OTHER CLIMATE NEWS-<\/strong><strong> Egypt is planning to produce a report on how climate <\/strong><strong>change is impacting the country<\/strong>, and the international cooperation and environment ministries are in talks with the World Bank to help with the data collection and research process, according to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/230449492458812\">a cabinet statement<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sdgs\/\">SDGs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sustainability\/\">sustainability<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557578\" 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=\"557578\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/silicon-valley-based-plug-and-play-to-invest-in-egypts-startup-ecosystem\/\">\r\n                            Silicon Valley-based Plug and Play to invest in Egypt\u2019s startup ecosystem                        <\/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\/23\/silicon-valley-based-plug-and-play-to-invest-in-egypts-startup-ecosystem\/\" 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\/23\/silicon-valley-based-plug-and-play-to-invest-in-egypts-startup-ecosystem\/')\">\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\/23\/silicon-valley-based-plug-and-play-to-invest-in-egypts-startup-ecosystem\/\">\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=Silicon Valley-based Plug and Play to invest in Egypt\u2019s startup ecosystem&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/silicon-valley-based-plug-and-play-to-invest-in-egypts-startup-ecosystem\/\">\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\/23\/silicon-valley-based-plug-and-play-to-invest-in-egypts-startup-ecosystem\/&title=Silicon Valley-based Plug and Play to invest in Egypt\u2019s startup ecosystem\">\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=Silicon+Valley-based+Plug+and+Play+to+invest+in+Egypt%E2%80%99s+startup+ecosystem+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F23%2Fsilicon-valley-based-plug-and-play-to-invest-in-egypts-startup-ecosystem%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\/23\/silicon-valley-based-plug-and-play-to-invest-in-egypts-startup-ecosystem\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/333.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557579\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/silicon-valley-based-plug-and-play-to-invest-in-egypts-startup-ecosystem\/333-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/333.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"333.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/333.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/333.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557578\" class=\"content-area-description single-story post-557578 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-edita tag-enterpriseam tag-paynas tag-plug-and-play tag-silicon-valley tag-startup-watch tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Plug and Play to partner with ITIDA to develop Egyptian startups: <\/strong>Silicon Valley-based early-stage investor and accelerator <a href=\"https:\/\/www.plugandplaytechcenter.com\/\">Plug and Play<\/a> will launch a new startup accelerator and an incubator in Egypt in partnership with the Information Technology Industry Development Agency (ITIDA), the Communications Ministry said in <a href=\"https:\/\/www.facebook.com\/MCITEgypt\/posts\/225541692949465\">a statement<\/a> yesterday. Under the three-year agreement signed yesterday, Plug and Play will launch a new accelerator program that will run two cycles each year, targeting a total of 60 companies. The incubator will provide support to 60 early-stage startups each year split into two cycles. These will be run by a new company to be set up in Cairo by Plug and Play and ITIDA.<\/p>\n<p><strong>The program aims to help its startups attract USD 20 mn in investments<\/strong> over the three-year period, in addition to creating at least 500 jobs.<\/p>\n<p><strong>ALSO FROM PLANET STARTUP-<\/strong><\/p>\n<p><strong>Egyptian fintech startup Paynas will provide digital financial services to clients <\/strong><strong>of <\/strong><strong><a href=\"https:\/\/www.facebook.com\/E3lanyAdvAgency\/\">E3lany<\/a><\/strong> after inking an agreement with the state-owned mobile and digital advertising firm yesterday, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/230541829116245\">cabinet statement<\/a>. Under the partnership, E3lany will provide a range of financial services to taxi drivers, including allowing them to process fares digitally, apply for loans to buy spare parts, and advertise their services online. The statement claims the agreement will helo generate more than EGP 1 bn worth of business in the first year.<\/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\/edita\/\">Edita<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/paynas\/\">Paynas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/plug-and-play\/\">Plug and Play<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/silicon-valley\/\">silicon valley<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557580\" 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=\"557580\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/marc-barety-to-succeed-stephane-romatet-as-frances-ambassador-to-egypt\/\">\r\n                            Marc Bar\u00e9ty to succeed St\u00e9phane Romatet as France\u2019s ambassador to Egypt                        <\/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\/23\/marc-barety-to-succeed-stephane-romatet-as-frances-ambassador-to-egypt\/\" 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\/23\/marc-barety-to-succeed-stephane-romatet-as-frances-ambassador-to-egypt\/')\">\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\/23\/marc-barety-to-succeed-stephane-romatet-as-frances-ambassador-to-egypt\/\">\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=Marc Bar\u00e9ty to succeed St\u00e9phane Romatet as France\u2019s ambassador to Egypt&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/marc-barety-to-succeed-stephane-romatet-as-frances-ambassador-to-egypt\/\">\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\/23\/marc-barety-to-succeed-stephane-romatet-as-frances-ambassador-to-egypt\/&title=Marc Bar\u00e9ty to succeed St\u00e9phane Romatet as France\u2019s ambassador to Egypt\">\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=Marc+Bar%C3%A9ty+to+succeed+St%C3%A9phane+Romatet+as+France%E2%80%99s+ambassador+to+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F23%2Fmarc-barety-to-succeed-stephane-romatet-as-frances-ambassador-to-egypt%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\/23\/marc-barety-to-succeed-stephane-romatet-as-frances-ambassador-to-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557580\" class=\"content-area-description single-story post-557580 post type-post status-publish format-standard hentry category-moves tag-diplomacy tag-enterpriseam tag-france tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>France appoints new ambassador to Egypt:<\/strong> Marc Bar\u00e9ty will replace St\u00e9phane Romatet as France\u2019s ambassador to Egypt, the <a href=\"https:\/\/eg.ambafrance.org\/Marc-Barety-Ambassadeur-de-France-en-Egypte\">French embassy said in a statement<\/a> announcing his appointment. Bar\u00e9ty has worked for the French foreign affairs ministry in various MENA-related positions stretching back to 1986, most recently as ambassador to Baghdad and then Islamabad. He holds a PhD in French literature and speaks both English and Arabic. <strong>There\u2019s no word on when Bar\u00e9ty will take over from Romatet in Cairo.<\/strong><\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/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=\"557581\" 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=\"557581\">\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\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/cib-to-represent-africa-on-uns-net-zero-banking-alliance-steering-group\/\">\r\n                            CIB to represent Africa on UN\u2019s Net-Zero Banking Alliance steering group                        <\/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\/23\/cib-to-represent-africa-on-uns-net-zero-banking-alliance-steering-group\/\" 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\/23\/cib-to-represent-africa-on-uns-net-zero-banking-alliance-steering-group\/')\">\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\/23\/cib-to-represent-africa-on-uns-net-zero-banking-alliance-steering-group\/\">\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=CIB to represent Africa on UN\u2019s Net-Zero Banking Alliance steering group&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/cib-to-represent-africa-on-uns-net-zero-banking-alliance-steering-group\/\">\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\/23\/cib-to-represent-africa-on-uns-net-zero-banking-alliance-steering-group\/&title=CIB to represent Africa on UN\u2019s Net-Zero Banking Alliance steering group\">\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=CIB+to+represent+Africa+on+UN%E2%80%99s+Net-Zero+Banking+Alliance+steering+group+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F23%2Fcib-to-represent-africa-on-uns-net-zero-banking-alliance-steering-group%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\/23\/cib-to-represent-africa-on-uns-net-zero-banking-alliance-steering-group\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557581\" class=\"content-area-description single-story post-557581 post type-post status-publish format-standard hentry category-kudos tag-banking tag-banque-misr tag-cib tag-climate-change tag-enterpriseam tag-kudos tag-matouk-bassiouny-hennawy tag-national-bank-of-egypt tag-sustainability wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>CIB will represent Africa on the steering committee of the UN\u2019s <\/strong><strong><a href=\"https:\/\/www.unepfi.org\/net-zero-banking\/\">Net-Zero Banking<\/a><\/strong><strong><a href=\"https:\/\/www.unepfi.org\/net-zero-banking\/\">Alliance<\/a><\/strong>, a group of 55 financial institutions set up earlier this year that aim to reduce emissions of their lending and investment portfolio, the bank has announced in a <a href=\"https:\/\/ent.news\/2021\/9\/CIB-Appointed-to-Net-Zero-Banking-Alliance-Steering-Group.pdf\">statement<\/a><sup><\/sup><a href=\"https:\/\/ent.news\/2021\/9\/CIB-Appointed-to-Net-Zero-Banking-Alliance-Steering-Group.pdf\">(pdf)<\/a>. The 12-member steering group will oversee decision-making and strategy for the alliance, which wants to reach net-zero emissions by 2050.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Matouk Bassiouny has been shortlisted for local and frontier advisor of the year <\/strong>in the 2021 Private Equity Africa Awards, it said in a <a href=\"https:\/\/ent.news\/2021\/9\/Matouk-Bassiouny-Hennawy-Press-Release-PEA-Africa-Shortlist-21-September-2021.pdf\">press release (pdf)<\/a>. It has also been shortlisted for the single transaction advisor of the year for its work advising Alta Semper Capital, Tana Africa Capital, and Ezdehar Management.<\/p>\n<hr class=\"grey-line\">\n<p><strong>The National Bank of Egypt and Banque Misr have been named two of the safest <\/strong><strong>banks in Africa <\/strong>by <a href=\"https:\/\/ent.news\/2021\/9\/press-release-worlds-safest-banks-2021-africa-1631651351.pdf\">Global Finance (pdf)<\/a>, coming in ninth and tenth place respectively in the list of 10 financial institutions.<\/p>\n<p><strong>The list was dominated by South African banks<\/strong> which took up five of the 10 spots, while the top three places went to Moroccan banks, with Attijariwafa Bank coming top of the list, Groupe Banque Centrale Populaire in second, and Bank of Africa in third.<\/p>\n<p><strong>The selection criteria was based on an evaluation of banks\u2019 long-term foreign currency ratings <\/strong>from three credit rating firms, Moody\u2019s, Standard & Poor\u2019s and Fitch.<\/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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/cib\/\">CIB<\/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\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/matouk-bassiouny-hennawy\/\">Matouk Bassiouny &amp; Hennawy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-bank-of-egypt\/\">National Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sustainability\/\">sustainability<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557582\" 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=\"557582\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/557582\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557582\" class=\"content-area-description single-story post-557582 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/Sodic-June-MV-Sea-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557583\" 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=\"557583\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/last-nights-talk-shows-on-school-volunteers-the-teacher-shortage-and-aboul-gheit-on-gerd\/\">\r\n                            Last Night\u2019s Talk Shows on school volunteers, the teacher shortage, and Aboul Gheit on GERD                        <\/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\/23\/last-nights-talk-shows-on-school-volunteers-the-teacher-shortage-and-aboul-gheit-on-gerd\/\" 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\/23\/last-nights-talk-shows-on-school-volunteers-the-teacher-shortage-and-aboul-gheit-on-gerd\/')\">\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\/23\/last-nights-talk-shows-on-school-volunteers-the-teacher-shortage-and-aboul-gheit-on-gerd\/\">\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=Last Night\u2019s Talk Shows on school volunteers, the teacher shortage, and Aboul Gheit on GERD&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/last-nights-talk-shows-on-school-volunteers-the-teacher-shortage-and-aboul-gheit-on-gerd\/\">\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\/23\/last-nights-talk-shows-on-school-volunteers-the-teacher-shortage-and-aboul-gheit-on-gerd\/&title=Last Night\u2019s Talk Shows on school volunteers, the teacher shortage, and Aboul Gheit on GERD\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Last+Night%E2%80%99s+Talk+Shows+on+school+volunteers%2C+the+teacher+shortage%2C+and+Aboul+Gheit+on+GERD+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F23%2Flast-nights-talk-shows-on-school-volunteers-the-teacher-shortage-and-aboul-gheit-on-gerd%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\/23\/last-nights-talk-shows-on-school-volunteers-the-teacher-shortage-and-aboul-gheit-on-gerd\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557583\" class=\"content-area-description single-story post-557583 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-ahmed-aboul-gheit tag-education-ministry tag-enterpriseam tag-gerd tag-last-nights-talk-shows tag-tarek-shawky wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was a quiet night on the airwaves:<\/strong> Speaking to Yahduth Fi Masr (<a href=\"https:\/\/www.youtube.com\/watch?v=UdF4Dx-3jVI\">watch, runtime:<\/a><a href=\"https:\/\/www.youtube.com\/watch?v=UdF4Dx-3jVI\">5:36<\/a>), <strong>MP <\/strong><strong>Sanaa Al-Saeed<\/strong><strong> called on the Education Ministry to reconcile the status of 36k teachers <\/strong>who were hired before having their contracts terminated, rather than opening the door to volunteers. Schools around the country are currently facing a shortage of teachers, leading to the Education Ministry <a href=\"https:\/\/www.facebook.com\/photo\/?fbid=219793796845235&set=a.142173494607266\">calling on people<\/a> to volunteer as teaching assistants when the new public school year begins next month. Education Minister Tarek Shawki told El Hekaya\u2019s Amr Adib earlier this week that there is currently a 250k shortfall in teachers and that the ministry would pay volunteers EGP 20 a class to fill the gap (<a href=\"https:\/\/www.youtube.com\/watch?v=HZ1Gx_WeMs8\">watch, runtime: 4:15<\/a>). The education and finance ministers said yesterday that the statuses of the 36k teachers is under discussion and will be resolved shortly, according to Al-Saeed.<\/p>\n<p><strong>What\u2019s with the huge teacher shortage?<\/strong> Shawki said that budget limitations mean that the government does not have the capacity to hire new teachers.<\/p>\n<p><strong>Where did this come from? <\/strong>Readers will recall that austerity measures implemented last year by the Madbouly cabinet included a freeze on hires at any government body \u2014 including replacements for folks who quit or retire. Replacements are only hired now after a governorate flags a shortage of teachers and gets one-off approval from the Education Ministry to hire replacements or new positions.<\/p>\n<p><strong>Also on the airwaves last night: Developments in the \u2018Decent Life\u2019 initiative, <\/strong>which were followed up on in a cabinet meeting: Yahduth Fi Masr (<a href=\"https:\/\/www.youtube.com\/watch?v=O_JjXVHifos\">watch, runtime: 5:49<\/a>) and Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=otd_0L3_Bfc\">watch, runtime: 1:12<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ahmed-aboul-gheit\/\">Ahmed Aboul Gheit<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education-ministry\/\">Education Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/tarek-shawky\/\">Tarek Shawky<\/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=\"557584\" 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 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data-block-id=\"b1mlvjx\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-b1mlvjx-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-b1mlvjx-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 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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=\"557585\" 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=\"557585\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/al-azhar-scholars-hope-for-taliban-tolerance\/\">\r\n                            Al Azhar scholars hope for Taliban tolerance                        <\/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\/23\/al-azhar-scholars-hope-for-taliban-tolerance\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" 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href=\"https:\/\/api.whatsapp.com\/send?text=Al+Azhar+scholars+hope+for+Taliban+tolerance+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F23%2Fal-azhar-scholars-hope-for-taliban-tolerance%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\/23\/al-azhar-scholars-hope-for-taliban-tolerance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557585\" class=\"content-area-description single-story post-557585 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-afghanistan tag-al-azhar tag-enterpriseam tag-religion tag-taliban wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It\u2019s another super-quiet morning in the foreign press:<\/strong> The lone piece of note is brought to us by <a href=\"https:\/\/www.reuters.com\/article\/idUSKBN2GI1L8\">Reuters<\/a>, which says that Al Azhar scholars returning from Afghanistan are hoping that their tolerant teachings on Islam will survive hardline Taliban rule.<\/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\/afghanistan\/\">Afghanistan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-azhar\/\">Al Azhar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/religion\/\">Religion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/taliban\/\">Taliban<\/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=\"557586\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557587\" 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=\"557587\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/saudi-wealth-fund-to-jump-on-the-green-debt-bandwagon\/\">\r\n                            Saudi wealth fund to jump on the green debt bandwagon                        <\/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            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<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=Saudi+wealth+fund+to+jump+on+the+green+debt+bandwagon+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F23%2Fsaudi-wealth-fund-to-jump-on-the-green-debt-bandwagon%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\/23\/saudi-wealth-fund-to-jump-on-the-green-debt-bandwagon\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557587\" class=\"content-area-description single-story post-557587 post type-post status-publish format-standard hentry category-planet-finance tag-amaala tag-enterpriseam tag-financial-markets tag-investment-trust tag-planet-finance tag-red-sea-development tag-saudi-arabia tag-wealth-fund wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>Saudi Arabia's sovereign wealth fund will soon announce its first green debt <\/strong><strong>issuance<\/strong>, with borrowing linked to sustainability, according to <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-wealth-fund-pif-issue-green-debt-soon-says-governor-2021-09-22\/\">Reuters<\/a>. This will be the first issuance of its kind done by a sovereign fund, Yasir Al Rumayyan, governor of the Public Investment Fund, said during a virtual conference.<\/p><p><strong>Green debt issuance is <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a61d8f16-aa34-46e1-8b67-0cc73236a43d\">on the rise<\/a><\/strong><strong> in MENA<\/strong> after the value of green and sustainability-linked debt sales in the MENA region rose by 38% y-o-y in the first six months of 2021. Egypt became the first country in the region to issue sovereign green bonds last year, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d1b54d5-5efa-41c9-ac8b-728b105b2ef0\">raising USD 750 mn<\/a>.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,596<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: -2.3%)<\/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 (<\/strong><strong>C<\/strong><strong>BE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>11,270<\/p>\n<\/td>\n<td>\n<p>-0.4% (YTD: +29.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>7,781<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: +54.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,843<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: +14.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,395<\/p>\n<\/td>\n<td>\n<p>+1.0% (YTD: +17.0%)<\/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>7,083<\/p>\n<\/td>\n<td>\n<p>+1.5% (YTD: +9.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 76.19<\/p>\n<\/td>\n<td>\n<p>+2.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 4.77<\/p>\n<\/td>\n<td>\n<p>-0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,769.10<\/p>\n<\/td>\n<td>\n<p>-0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 43,341<\/p>\n<\/td>\n<td>\n<p>+4.7% (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 (23.9% below the 90-day average). Regional investors were net buyers. The index is down 2.3% YTD.<\/p><p><strong>In the green: <\/strong> Pioneers Holding (+7.6%), Raya (+6.5%) and Cleopatra Hospitals (+4.7%).<\/p><p><strong>In the red: <\/strong>Credit Agricole (-0.9%), Fawry (-0.5%) and CIRA (-0.2%).<\/p><p><strong>Asian markets are mixed this morning<\/strong>, with the Nikkei and Kospi both in the red while shares in Hong Kong and Shanghai are in the green. Futures suggest shares in Paris, London, Frankfurt will open in the green later this morning \u2014 and that both Bay Street and Wall Street will follow suit later today.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/amaala\/\">Amaala<\/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\/investment-trust\/\">Investment Trust<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/red-sea-development\/\">Red Sea Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wealth-fund\/\">Wealth Fund<\/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=\"557588\" 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=\"557588\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/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\/23\/turkey-moves-against-pro-ikhwan-tv-hosts-as-it-looks-to-patch-things-up-with-cairo\/\">\r\n                            Turkey moves against pro-Ikhwan TV hosts as it looks to patch things up with Cairo                        <\/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\/23\/turkey-moves-against-pro-ikhwan-tv-hosts-as-it-looks-to-patch-things-up-with-cairo\/\" 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\/23\/turkey-moves-against-pro-ikhwan-tv-hosts-as-it-looks-to-patch-things-up-with-cairo\/')\">\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\/23\/turkey-moves-against-pro-ikhwan-tv-hosts-as-it-looks-to-patch-things-up-with-cairo\/\">\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=Turkey moves against pro-Ikhwan TV hosts as it looks to patch things up with Cairo&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/turkey-moves-against-pro-ikhwan-tv-hosts-as-it-looks-to-patch-things-up-with-cairo\/\">\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\/23\/turkey-moves-against-pro-ikhwan-tv-hosts-as-it-looks-to-patch-things-up-with-cairo\/&title=Turkey moves against pro-Ikhwan TV hosts as it looks to patch things up with Cairo\">\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=Turkey+moves+against+pro-Ikhwan+TV+hosts+as+it+looks+to+patch+things+up+with+Cairo+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F23%2Fturkey-moves-against-pro-ikhwan-tv-hosts-as-it-looks-to-patch-things-up-with-cairo%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\/23\/turkey-moves-against-pro-ikhwan-tv-hosts-as-it-looks-to-patch-things-up-with-cairo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557588\" class=\"content-area-description single-story post-557588 post type-post status-publish format-standard hentry category-diplomacy tag-diplomacy tag-enterpriseam tag-lebanon tag-muslim-brotherhood tag-sameh-shoukry tag-turkey wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Turkey is taking action against TV hosts as it looks to warm ties with Cairo: <\/strong>Turkey-based Egyptian pro-Ikhwan TV channel El Sharq will no longer allow Haytham Abu Khaleel to appear on its network, after Turkish authorities told the broadcaster to ban the presenter for violating instructions to abstain from criticizing Egypt, sources told <a href=\"https:\/\/www.alarabiya.net\/arab-and-world\/egypt\/2021\/09\/22\/-%D8%A7%D9%84%D8%AE%D8%A7%D9%85%D8%B3-%D8%AA%D8%B1%D9%83%D9%8A%D8%A7-%D8%AA%D9%85%D9%86%D8%B9-%D9%85%D8%B0%D9%8A%D8%B9%D8%A7%D9%8B-%D8%A7%D8%AE%D9%88%D8%A7%D9%86%D9%8A%D8%A7%D9%8B-%D8%AC%D8%AF%D9%8A%D8%AF%D8%A7%D9%8B-%D9%85%D9%86-%D8%A7%D9%84%D8%B8%D9%87%D9%88%D8%B1-%D8%A8%D8%B9%D8%AF-%D8%A7%D9%86%D8%AA%D9%82%D8%A7%D8%AF%D9%87-%D9%85%D8%B5%D8%B1\">Al Arabiya<\/a>. According to the sources, Abu Khalil has been warned by Ankara not to make any more appearances on Turkish public media, whether broadcast, print or social media. Turkish officials also warned four other Ikhwani broadcasters not to criticize Egypt in their content.<\/p>\n<p><strong>The move comes as Turkey <\/strong><strong><a href=\"https:\/\/enterprise.press\/stories\/2021\/09\/16\/turkey-could-hand-over-egyptian-fugitives-un-security-council-speaks-on-gerd-53686\/\">attempts to mend<\/a><\/strong><strong> an almost decade-long rift with Egypt,<\/strong> which has said that Ankara must fulfil certain requirements \u2014 including withdrawing from Libya and handing over members of the Ikhwan \u2014 before diplomatic ties can be restored. Al Sharq, which is run by former Egyptian MP Ayman Nour, is one of three broadcasters that were <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fd9bd86b-542e-46d6-a545-108fa6ec37d9\">told by Turkish authorities in March<\/a> to refrain from criticizing the Egyptian government so as not to affect ongoing talks.<\/p>\n<p><strong>Shoukry has been doing the rounds at the UN: <\/strong>According to a number of foreign ministry statements, Shoukry yesterday held bilateral talks with the foreign ministers of <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/161185822857939\">Ireland<\/a>, <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/161196822856839\">France<\/a>, and <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/161291399514048\">Vietnam<\/a>, participated in a meeting of members of the <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/161295872846934\">Berlin Conference process<\/a> on Libya, and <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/161347196175135\">gave a speech<\/a> at a meeting to commemorate the 20th anniversary of the signing of the Durban Declaration against racial discrimination and xenophobia.<\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/muslim-brotherhood\/\">Muslim Brotherhood<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/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=\"557589\" 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=\"557589\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">16<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/my-morning-routine-hussein-momtaz-co-founder-and-ceo-of-koinz\/\">\r\n                            My Morning Routine: Hussein Momtaz, co-founder and CEO of Koinz                        <\/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\/23\/my-morning-routine-hussein-momtaz-co-founder-and-ceo-of-koinz\/\" 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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Speaking to us this week is Hussein Momtaz, co-founder and CEO of Koinz (<a href=\"https:\/\/eg.linkedin.com\/in\/hussein-momtaz\">LinkedIn<\/a>), used by more than 1.5k restaurants to collect and manage data, attract and retain customers, and promote their businesses.<\/p>\n<p><strong>Edited excerpts from our conversation:<\/strong><\/p>\n<p><strong>My name is Hussein Momtaz, I am the co-founder and CEO of Koinz.<\/strong> After graduating from computer engineering from Al Azhar University, I decided to build a software house with one of my friends. In the three years that followed, we experimented with different ideas and did a few projects in the Gulf region until we found something promising enough to give it our full attention. This is when we launched Koinz in 2018 and shut down our software house.<\/p>\n<p><strong>Koinz aims to reinvent food platforms:<\/strong> We designed an experience that allows walk-in customers to become online users through Koinz. Ever since I was a kid, I became passionate about design; you feel these two backgrounds collide at Koinz, from the tech perspective of the product to the psychology of the UX design. We used a lot of psychology in order for this experience to become successful.<\/p>\n<p><strong>I have two morning routines: One that I have control over and one that I don\u2019t.<\/strong> In my normal routine I wake up at 8 am to finish some chores during my golden hour or what I call \u201cfocus hours.\u201d This is the time when I get everything that requires a lot of focus done. I also get things done during my commute because I do a lot of reading and catching up.<\/p>\n<p><strong>Then there\u2019s the other, more chaotic. Routine<\/strong>. I sometimes stay up until 4-5 am working, which means that I won\u2019t wake up until 10 am. I do my best to keep to my normal routine and avoid late nights though. Sleep deprivation is never in anyone\u2019s interest and inevitably affects performance.<\/p>\n<p><strong>When I\u2019m close to burning out, I try to head to Sahel <\/strong>even for just one day to switch off. I don\u2019t do it very often though, maybe once every 5-6 months. But it\u2019s something that I definitely want to do more often because it helps keep me sane.<\/p>\n<p><strong>Since the onset of the pandemic, people are being expected to be available 24\/7<\/strong>. The concept of going back home and just switching off no longer exists. I think there are many distractions at the office and WFH is a great way to boost your concentration. On the other hand, it is hard for people to connect on a personal level from home and struggle to get to know each other. Therefore, I really believe in the hybrid model because I just don\u2019t think working remotely full time is suitable for our culture.<\/p>\n<p><strong>Keeping a structured schedule as a CEO can be a challenge and this is something I learned the hard way.<\/strong> You need to work somewhere that is not entirely accessible, somewhere you can work on your own otherwise you\u2019ll have so many distractions and you\u2019ll struggle to keep a structured schedule and a proper work-life balance. The worst scenario is when you\u2019re not concentrating 100% and you\u2019re not giving yourself a break either. You can work for 14 hours straight, while the quality hours that you\u2019ve actually worked could be only five hours.<\/p>\n<p><strong>I watch the most dim-witted TV shows to completely switch off when I get home<\/strong>. I am a big fan of anime, I am currently watching Psychic. My favorite is Hunter X Hunter. I am also watching Monk, The Simpsons. I\u2019m also into epic fantasies such as The Lord of the Rings and The Hobbit. My favorite movie is About Time. I am currently reading <a href=\"https:\/\/www.amazon.com\/Five-Dysfunctions-Team-Leadership-Fable\/dp\/0787960756\">The Five Dysfunctions of a Team<\/a> and <a href=\"https:\/\/www.amazon.com\/Hard-Thing-About-Things-Building\/dp\/0062273205\">Hard Things About Hard Things<\/a>.<\/p>\n<p><strong>The biggest challenge the Egyptian tech industry is facing is finding talent<\/strong>. There\u2019s a serious skills shortage in the country, and this is a major problem for the sector and for our company. We\u2019re trying to level up our hiring process big time. We\u2019ve improved our salaries\u2019 to be more competitive, with more stock options and incentives, and we\u2019re even trying to attract foreign talent.<\/p>\n<p><strong>Startups are dead by default not alive<\/strong>, so you have to do everything in your power to make it work, because statistically, startups fail by default. So if there\u2019s someone a little out of budget for the company but will transform your business, you need to go out there and hire them.<\/p>\n<p><strong>Sometimes we lose the meaning in what we do<\/strong> and we need to remind ourselves of our goals. I wouldn\u2019t want to be Steve Jobs if I don't have a good influence on others. There\u2019s a great quote by Elon Musk that really resonates with me. \u201cDo your dishes.\u201d<\/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\/koinz\/\">Koinz<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/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=\"557591\" 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\/23\/your-essential-business-calendar-on-23-september-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557591\" class=\"content-area-description single-story post-557591 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>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>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>30 September (Thursday): Direct flights between Egypt and three Libyan airports <a href=\"https:\/\/www.facebook.com\/pmGNUmedia\/posts\/242139377925128\">resume<\/a>.<\/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): Deadline for state-owned companies and government agencies to sign up to e-invoicing platform.<\/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>15 December (Wednesday): Deadline for joint stock companies and investment companies in Cairo to join e-invoicing platform.<\/p>\n<p>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>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>2H2022: <a href=\"https:\/\/www.ief.org\/news\/egypt-to-host-8th-ief-igu-ministerial-gas-forum-in-2022\">IEF-IGU Ministerial Gas Forum<\/a>, Egypt. Date + location TBA.<sup><\/sup><\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":557562,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-557561","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"780f4561-37ab-4a10-b869-0c5012367898","teaser":"","photo_url":"https:\/\/ent.news\/2021\/9\/320.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>From a capital gains taxes on the EGX starting in 1 January to a clampdown on retail tax evasion, the taxman will get his due - 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\/from-a-capital-gains-taxes-on-the-egx-starting-in-1-january-to-a-clampdown-on-retail-tax-evasion-the-taxman-will-get-his-due\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"From a capital gains taxes on the EGX starting in 1 January to a clampdown on retail tax evasion, the taxman will get his due\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/from-a-capital-gains-taxes-on-the-egx-starting-in-1-january-to-a-clampdown-on-retail-tax-evasion-the-taxman-will-get-his-due\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T01:44:23+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\/320.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\/from-a-capital-gains-taxes-on-the-egx-starting-in-1-january-to-a-clampdown-on-retail-tax-evasion-the-taxman-will-get-his-due\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/from-a-capital-gains-taxes-on-the-egx-starting-in-1-january-to-a-clampdown-on-retail-tax-evasion-the-taxman-will-get-his-due\/\",\"name\":\"From a capital gains taxes on the EGX starting in 1 January to a clampdown on retail tax evasion, the taxman will get his due - 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