{"id":559595,"date":"2021-01-27T03:45:13","date_gmt":"2021-01-27T03:45:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=559595"},"modified":"2025-12-16T02:33:30","modified_gmt":"2025-12-16T02:33:30","slug":"landmark-mas-in-education-pharma-the-inside-track-on-galinas-stake-sale-and-ipo-plans","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/landmark-mas-in-education-pharma-the-inside-track-on-galinas-stake-sale-and-ipo-plans\/","title":{"rendered":"Landmark M&#038;As in education, pharma + the inside track on Galina\u2019s stake sale and IPO plans"},"content":{"rendered":"<section id=\"559597\" 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=\"559597\">\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\/01\/27\/what-were-tracking-on-27-january-2021\/\">\r\n                            What we\u2019re tracking on 27 January 2021                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/what-were-tracking-on-27-january-2021\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/what-were-tracking-on-27-january-2021\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/what-were-tracking-on-27-january-2021\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=What we\u2019re tracking on 27 January 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/what-were-tracking-on-27-january-2021\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/what-were-tracking-on-27-january-2021\/&title=What we\u2019re tracking on 27 January 2021\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=What+we%E2%80%99re+tracking+on+27+January+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F27%2Fwhat-were-tracking-on-27-january-2021%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/what-were-tracking-on-27-january-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559597\" class=\"content-area-description single-story post-559597 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-abdel-fattah-el-sisi tag-building-code tag-construction tag-davos tag-diplomacy tag-egx tag-enterpriseam tag-eu tag-france tag-germany tag-israel-palestine-conflict tag-jordan tag-moustafa-madbouly tag-policy tag-politics tag-rania-al-mashat tag-regulation-watch tag-sameh-shoukry tag-what-were-tracking-today tag-world-economic-forum wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, wonderful people. We made it through another workweek together \u2014 <\/strong>and our reward is a three-day weekend. Banks, the EGX and most private businesses are closed tomorrow. We\u2019re also off and will be back in your inboxes at 6am on Sunday.<\/p><p><strong>Make it count, everyone: <\/strong>This is our last day off until some time around 25 April (depending on the whole \u201cThursday holidays\u201d rule), when we\u2019ll observe Sinai Liberation Day in mid-Ramadan. The Holy Month is set to begin on 13 April.<\/p><p><strong>Your holiday weather looks \u2026 brisk. <\/strong>Look for clear skies and a high of 22\u00b0C today in the capital today before the mercury plunges to 18\u00b0C and stays there until Sunday. Expect overnight lows in the single digits all weekend. The national weather service adds that we can expect high winds starting today, but they\u2019re not calling for a sand storm.<\/p><p><strong>BIG NEWS AT HOME- We have the inside track on food player Galina\u2019s EGP 600 mn stake<\/strong> <strong>sale <\/strong>and plans to IPO on the EGX \u2014 and some big M&amp;A news, including <strong>Hikma\u2019s potential acquisition of pharma major GSK\u2019s Egypt<\/strong> operations and the <strong>first acquisition in the education sector <\/strong>since the Education Ministry lifted a 20% foreign ownership cap last week.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p><p><strong>The EU\u2019s envoy for the Middle East peace process, Susanna Terstal, is in Cairo today for<\/strong> <strong>talks with Foreign Minister Sameh Shoukry, <\/strong>the Foreign Ministry said in <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=26012021&amp;id=809e3d18-fe8c-4d9e-8c12-765ea015b815\">a statement<\/a> yesterday. Egypt has in recent weeks sought to inject new life into the Israel-Palestine peace process, inviting the French, German and Jordanian foreign ministers to Cairo <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9ae3fc40-4f0c-47fc-b627-f0b0cf703674\">earlier this month<\/a> where they agreed to push for a revival of talks. President Abdel Fattah El Sisi also made a trip to Jordan to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8abda4d1-9e3d-464e-a894-a0b713bd3d49\">discuss the peace process<\/a> with King Abdullah II, a few day after Egyptian intelligence officials visited Ramallah for talks with the Palestinian Authority.<\/p><p><strong>A virtual roundtable titled \u201cCompetitive Advantages of Sukuk\u201d<\/strong> will feature a <a href=\"https:\/\/bit.ly\/3ccMqX0\">headline<\/a><a href=\"https:\/\/bit.ly\/3ccMqX0\">discussion of a successful sukuk issuance<\/a>, among other topics. Among the panelists: Our friends <strong>Bahaa Alieldean<\/strong>, managing partner at <a href=\"http:\/\/www.alc.law\/the-team\/team\/bahaa-ali-el-din-helal\/\">Alieldean Weshahi &amp; Partners<\/a> and Misr Capital CEO <strong>Khalil El Bawab<\/strong> as well as MERIS Ratings\u2019 <strong>Amr Hassanein<\/strong>.<\/p><p><strong>IT\u2019S FED DAY<\/strong><strong>:<\/strong> The Federal Open Markets Committee will announce their decision on interest rates \/ pandemic stimulus later today as the two-day meeting draws to a close. Expect plenty of dovish noises from Chairman Jerome Powell, whose main mission is to convince the markets that there are no plans to let the music stop.<\/p><p><strong>The World Economic Forum\u2019s virtual Davos forum continues today <\/strong>and wraps up tomorrow. Women\u2019s empowerment was the subject of International Cooperation Minister <strong>Rania Al Mashat\u2019s <\/strong><strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1842584175919939\">address to the gathering<\/a><\/strong> yesterday. The minister told attendees that gender parity is at the heart of Egypt\u2019s development and reform agenda and spoke of a three-year public-private sector strategy to promote workplace equality.<\/p><p><strong>The minister is also getting digital ink from <\/strong><strong><a href=\"https:\/\/www.reuters.com\/article\/idUSKBN29V1LG\">Reuters<\/a><\/strong>, telling Patrick Werr and Aiden Lewis that affordable financing from development lenders will be used to boost the private sector, improve governance, and achieve a green recovery. \u201cThere are venues, very attractive venues, for such financing, not just for government projects but also for private sector projects,\u201d she said.<\/p><p><strong>Mashat\u2019s \u201cgo green\u201d message is getting through:<\/strong> The <a href=\"https:\/\/www.ft.com\/content\/8ec30baf-69e9-4d73-aa25-13668dcb659f\">Financial Times<\/a> notes that Egypt is one of a handful of EM economies that \u201care drawing up plans to ensure their economic recoveries are environmentally friendly.\u201d<\/p><p><strong>Speaking of development finance: The UAE is on the road to becoming a member of the European Bank for Reconstruction and Development<\/strong> after the board of governors yesterday <a href=\"https:\/\/www.ebrd.com\/news\/2021\/ebrd-shareholders-approve-membership-of-uae.html\">approved its request<\/a> to become a shareholder. The country will become a full member of the bank after its membership application has been finalized, though it remains unclear how long the process will take.<\/p><p><strong>Davos in the Desert<\/strong> (yes, we know, we\u2019re not supposed to call it that) kicks off at the <a href=\"https:\/\/futureinvestmentinitiative.com\/en\">Future<\/a><a href=\"https:\/\/futureinvestmentinitiative.com\/en\">Investment Initiative<\/a> in Riyadh today. The gathering wraps up tomorrow.<\/p><p><strong>Sunday is the deadline for employers and self-employed folks to file wage tax returns. <\/strong><\/p><p><strong>COMING SOON- A brand new building code:<\/strong> Officials are dotting the i\u2019s and crossing the t\u2019s on the new set of building regulations, which will soon be handed to Prime Minister Moustafa Madbouly for approval, <a href=\"http:\/\/bit.ly\/3t09oGL\">cabinet said<\/a> yesterday. The draft framework is being sent back to local governors over the next three days for a final round of consultations. The government <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ec8c2b4f-f425-443e-ad0a-82c4e82b1578\">temporarily halted<\/a> construction permits last year in response to building code violations, and pledged to issue a new building code to prevent illegal construction.<\/p><p><strong>*** Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><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>Egypt will take on defending world champions Denmark tonight at 6:30 pm CLT <\/strong>in the 2021 Men\u2019s Handball World Championship quarter-finals. Egypt and Qatar are the only two non-European teams that made it to the final eight. Qatar faces off against Sweden tonight at 9:30 pm CLT. The remaining two quarter-final games will be Spain vs Norway and France vs Hungary (both of which will also kick off tonight at 9:30 pm CLT).<\/p><p><strong>Remember the draw against Slovenia this week that took the Pharaohs to the <\/strong><strong>quarter-finals? <\/strong>The Slovenes <a href=\"https:\/\/bit.ly\/2NFi9pt\">are claiming<\/a> they got food poisoning right before the game. A Health Ministry medical team in charge of attending to the players <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/299640604919892\">denied the allegations<\/a>.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and as well as social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue:<\/strong> Work is underway to expand Egypt\u2019s <a href=\"https:\/\/enterprise.press\/hardhats\/egypt-way-becoming-data-hub-part-1\/\">data center landscape<\/a> and establish ourselves as a hub. Major developments include state-owned Telecom Egypt building the country\u2019s first hyperscale data center. But what\u2019s driving this growth? Geographic positioning, an abundance of subsea cables, surplus electricity and new data protection laws all have a role to play.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/building-code\/\">building code<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/davos\/\">Davos<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/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\/germany\/\">Germany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jordan\/\">Jordan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/policy\/\">policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rania-al-mashat\/\">Rania Al Mashat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation-watch\/\">regulation watch<\/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\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-economic-forum\/\">World Economic Forum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    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href=\"https:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/SOMA-ENTERPRISE-GOLFCHAMP.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559599\" 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=\"559599\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a 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<\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559599\" class=\"content-area-description single-story post-559599 post type-post status-publish format-standard has-post-thumbnail hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-eu tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a><strong> Members of the public may be able to register to get vaccinated as soon as next week<\/strong>, Mohamed Abdel Fattah, head of the Health Ministry\u2019s Central Administration for Preventive Affairs, told Masaa DMC's Ramy Radwan last night <a href=\"https:\/\/www.youtube.com\/watch?v=PYqh9bmbX9M\">(watch, runtime: 7:14)<\/a>. People will be able to register via <a href=\"http:\/\/mohpegypt.com\/\">a dedicated website<\/a> that Abdel Fattah expects to go live next week.<\/p>\n<p><strong>But:<\/strong> There\u2019s still no timeline for when the ministry will start distributing shots to the wider public. And we\u2019re also looking for word on how (a) private sector companies and medical offices may be able to get involved in vaccine distribution and (b) how foreign residents can sign up for the jab.<\/p>\n<p><strong>Egypt <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2aa5c108-4b56-49e2-9e92-5e92dc0ad485\">kicked off<\/a><\/strong><strong> its vaccine program on Monday:<\/strong> Citizens can line up for their jabs after the ministry is done inoculating 410k frontline medical staff working at isolation, chest and fever hospitals around the country. Those with underlying health conditions and the elderly will be at the head of the line. The Health Ministry won\u2019t be vaccinating children (pending the results of clinical trials globally) or pregnant women.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/photos\/a.122315979319023\/299915734892379\/\">reported<\/a><\/strong><strong> 643 new covid-19 infections yesterday<\/strong>, down from 669 the day before. The ministry also reported 55 new deaths, bringing the country\u2019s total death toll to 9,067. Egypt has now disclosed a total of 163,129 confirmed cases of covid-19.<\/p>\n<p><strong>The politics of vaccine distribution are starting to get heated<\/strong>, after the EU blasted AstraZeneca for delaying deliveries and lashed out at the US\u2019 export restrictions, reports <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-01-26\/eu-vaccine-rollout-in-disarray-as-germany-touts-export-limits?sref=mmeFTDW1\">Bloomberg<\/a>. German Chancellor Angela Merkel is demanding Europe also block the export of vaccines as shortages threaten to disrupt national vaccination campaigns.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/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=\"559601\" 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=\"559601\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/galina-pushes-on-with-egp-600-mn-stake-sale-egx-debut\/\">\r\n                            Galina pushes on with EGP 600 mn stake sale, EGX debut                        <\/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\/01\/27\/galina-pushes-on-with-egp-600-mn-stake-sale-egx-debut\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The sale will then be followed by an initial public offering in which the company will float at least 10% from both the new and existing shares on the EGX, he said.<\/p>\n<p><strong>Who\u2019s interested? <\/strong>Prospective investors domiciled in the United States, UK and Germany, Soliman told us, without disclosing further details. Soliman <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f9e22634-f6d7-4b57-939c-fe0052322044\">previously said<\/a> that unnamed private equity funds from France, the UAE, Kuwait, Egypt are also interested.<\/p>\n<p><strong>T-minus five months: <\/strong>The private placement is expected to close by June 2021 if ongoing due diligence wraps up before March, Soliman said. As soon as due diligence is complete, Galina will tap law firm Baker McKenzie\u2019s Cairo office as legal advisor, and Baker Tilly will do the fair value report, Soliman says. The company has tapped Renaissance Capital to quarterback the transaction.<\/p>\n<p><strong>Galina had previously been hoping to complete the placement in 1Q2021.<\/strong> But the implications of covid-19 and travel restrictions in some of the countries where the prospective investors reside delayed the process, Soliman told us. The company had been looking at a way to raise capital for expansion, including a potential EGX listing, <a href=\"https:\/\/enterprise.press\/stories\/2018\/08\/06\/galina-agrofreeze-looks-towards-egx-listing-as-it-seeks-to-leave-nilex\/\">since 2018<\/a>.<\/p>\n<p><strong>Galina will use the proceeds to finance the construction of its second factory in Alexandria<\/strong>, as well as set up storage spaces for exports to the US and Europe, Soliman told us. The planned factory, which will produce new products including a veggie burger, is expected to cost EGP 200 mn, and be up and running in 2023. Of the remaining 400 mn in proceeds from the sale, 150 mn will be added to share capital and 250 mn set aside to support liquidity and future investments.<\/p>\n<p><strong>Further down the line, the company has an eye for more exports and local expansion.<\/strong> It wants to grow exports to EGP 500 mn this year, from EGP 300 mn in 2020, and to EGP 1 bn by 2025, Soliman said. The company is owed upward of EGP 37 mn in export subsidies from the government, and has no plans to take out debt to finance its expansion plans. Locally, Galina is looking to <strong>set up a restaurant chain to serve plant-based meat alternatives<\/strong>, starting with branches in Alexandria then in Cairo, and partner with young entrepreneurs under a plan to eventually set up 1k retail franchises for its products.<\/p>\n<p><strong>Who else is plotting an upcoming listing (brought to you by the Enterprise IPO Tracker\u2122)?<\/strong> CI Capital\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cf2fc0fc-7c69-4a48-8bee-bb893803334d\">Taaleem<\/a>and non-banking financial services firm <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/28e4d461-7cb5-4955-a513-a5abf5e53215\">Ebtikar<\/a> are both considering a 1Q IPO, while consumer healthcare play <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4222023-4523-4073-9629-197b653c72de\">IDH<\/a> has hinted at a dual listing during the first six months of the year. State-owned payments platform e-Finance also has in store an IPO <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/61105818-f5d8-4b85-9804-34f34ed309cf\">expected to hit the ground<\/a> in 2Q2021.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559603\" 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=\"559603\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/landmark-ma-in-pharma-education\/\">\r\n                            Landmark M&#038;A in pharma, education                        <\/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\/01\/27\/landmark-ma-in-pharma-education\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The transaction would be subject to the completion of due diligence \u2014 which GSK\u2019s board must now approve \u2014 as well as regulatory approvals, and would take place following Hikma\u2019s submission of a mandatory purchase offer of 100% of GSK\u2019s Egyptian arm. The non-binding term sheet signed by both companies also includes a potential acquisition of GSK\u2019s Tunisia business. A timeline for the acquisition, or the potential value of the purchase were not disclosed. <a href=\"https:\/\/www.reuters.com\/article\/idUSL4N2K11RA\">Reuters<\/a> also took note of the story.<\/p>\n<p><strong>ALSO- We have the first education acquisition since the ministry <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/19f2a88a-aafb-42ae-b829-be0d17947bc2\">lifted the 20% foreign<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/19f2a88a-aafb-42ae-b829-be0d17947bc2\"><\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/19f2a88a-aafb-42ae-b829-be0d17947bc2\">ownership cap<\/a><\/strong><strong>:<\/strong> Mauritius-based Olympus Victory has acquired Al Rowad International School for an undisclosed sum, advisors Matouk Bassiouny & Hennawy announced in <a href=\"https:\/\/ent.news\/2021\/1\/MBH-Press-Release-26-January-2021.pdf\">a statement (pdf)<\/a> yesterday. Olympus is the foreign shareholder and owner of Kaumeya Language Schools. Matouk Bassiouny\u2019s Islam Saeed (partner and head of the education group) led the transaction with an assist from associate Yara Ghoneim.<\/p>\n<p><strong>WAT<\/strong><strong>CH THIS SPACE- SFE + ADQ announcing new investments this quarter:<\/strong> The USD 20 bn investment platform Egypt and the UAE <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/17\/egypts-tharaa-establishes-a-usd-20-bn-investment-platform-with-abu-dhabi-holding-company-6357\/\">set up back in 2019<\/a> through the Sovereign Fund of Egypt and ADQ (formerly known as Abu Dhabi Holding Company) will announce a number of new joint investments by the end of 1Q2021, Planning Minister Hala El Said in a <a href=\"https:\/\/bit.ly\/3qNdsIi\">statement<\/a> yesterday. El Said discussed the platform with SFE boss Ayman Soliman and ADQ Egypt CEO Mohamed Al Suwaidi.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/glaxosmithkline\/\">GlaxoSmithKline<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hikma-pharma\/\">Hikma Pharma<\/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\/pharma\/\">pharma<\/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=\"559605\" 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=\"559605\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/mideast-ma-activity-picked-up-in-2h2020-egypt-is-2-for-outbound-transactions\/\">\r\n                            Mideast M&#038;A activity picked up in 2H2020, Egypt is #2 for outbound transactions                        <\/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\/01\/27\/mideast-ma-activity-picked-up-in-2h2020-egypt-is-2-for-outbound-transactions\/\" 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\/01\/27\/mideast-ma-activity-picked-up-in-2h2020-egypt-is-2-for-outbound-transactions\/')\">\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\/01\/27\/mideast-ma-activity-picked-up-in-2h2020-egypt-is-2-for-outbound-transactions\/\">\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=Mideast M&#038;A activity picked up in 2H2020, Egypt is #2 for outbound transactions&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/mideast-ma-activity-picked-up-in-2h2020-egypt-is-2-for-outbound-transactions\/\">\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\/01\/27\/mideast-ma-activity-picked-up-in-2h2020-egypt-is-2-for-outbound-transactions\/&title=Mideast M&#038;A activity picked up in 2H2020, Egypt is #2 for outbound transactions\">\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=Mideast+M%26%23038%3BA+activity+picked+up+in+2H2020%2C+Egypt+is+%232+for+outbound+transactions+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F27%2Fmideast-ma-activity-picked-up-in-2h2020-egypt-is-2-for-outbound-transactions%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\/01\/27\/mideast-ma-activity-picked-up-in-2h2020-egypt-is-2-for-outbound-transactions\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/341.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"559606\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/mideast-ma-activity-picked-up-in-2h2020-egypt-is-2-for-outbound-transactions\/341-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/341.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"341.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/341.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/341.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559605\" class=\"content-area-description single-story post-559605 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-baker-mckenzie tag-enterpriseam tag-investment-watch tag-ma-watch tag-middle-east tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>The value of M&A activity in the Middle East nosedived 51% y-o-y to USD 58.7 bn<\/strong><strong> in 2020<\/strong> as M&A volume fell 13% y-o-y. Just 423 transactions were announced last year, according to a <a href=\"https:\/\/www.bakermckenzie.com\/en\/newsroom\/2021\/1\/middle-east-m-a-report\">report from Baker McKenzie<\/a>. The rate of decline in the region outpaced the global average, which saw transaction value dip 6% y-o-y and volumes drop 5%. In the Middle East, M&A picked up in the back half of the year (but the number of transactions still remained marginally lower than 2H2019 numbers), largely buoyed by a 56% y-o-y surge in agreements in November.<\/p>\n<p><strong>The majority of M&A in the region in 2H2020 was cross-border<\/strong>, which accounted for 147 agreements worth USD 9.9 bn compared to 157 agreements worth USD 10.4 bn for the same period in 2019. Meanwhile, a total of 73 domestic agreements worth USD 4.6 bn went through, up from 68 M&A totaling USD 3.7 bn.<\/p>\n<p><strong>Egypt ranked second for outbound transactions in both the full year as well as 2H2020. <\/strong>The US ranked first in both outbound and inbound cross-border M&A, with 19 inbound transactions worth USD 14.1 bn and 40 outbound agreements totaling USD 5.2 bn during the year..<\/p>\n<p><strong>The technology sector was the top target for inbound investments<\/strong>, followed by financial services, while energy and real estate topped the charts for the highest value of inbound investments.<\/p>\n<p><strong>The region could bounce back in 2021 as covid-19 subsides:<\/strong> \u201cThe megadeals we\u2019ve seen in some sectors such as high technology, financial institutions, energy and power and real estate have shown that there is interest in the region\u201d says Omar Momany, Partner and Head of the Corporate M&A Practice Group at Baker McKenzie Habib Al Mulla Dubai, adding that he expects the region to make a comeback and more M&A activity to occur.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/baker-mckenzie\/\">Baker McKenzie<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east\/\">Middle East<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559607\" 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=\"559607\">\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\">Investment<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/egypt-is-still-africas-top-fdi-destination-despite-covid\/\">\r\n                            Egypt is still Africa\u2019s top FDI destination despite covid                        <\/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\/01\/27\/egypt-is-still-africas-top-fdi-destination-despite-covid\/\" 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\/01\/27\/egypt-is-still-africas-top-fdi-destination-despite-covid\/')\">\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\/01\/27\/egypt-is-still-africas-top-fdi-destination-despite-covid\/\">\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 is still Africa\u2019s top FDI destination despite covid&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/egypt-is-still-africas-top-fdi-destination-despite-covid\/\">\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\/01\/27\/egypt-is-still-africas-top-fdi-destination-despite-covid\/&title=Egypt is still Africa\u2019s top FDI destination despite covid\">\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+is+still+Africa%E2%80%99s+top+FDI+destination+despite+covid+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F27%2Fegypt-is-still-africas-top-fdi-destination-despite-covid%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\/01\/27\/egypt-is-still-africas-top-fdi-destination-despite-covid\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/342.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"559608\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/egypt-is-still-africas-top-fdi-destination-despite-covid\/342-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/342.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"342.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/342.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/342.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559607\" class=\"content-area-description single-story post-559607 post type-post status-publish format-standard has-post-thumbnail hentry category-investment tag-enterpriseam tag-fdi tag-investment-watch tag-sovereign-fund-of-egypt tag-uae tag-unctad 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>Foreign direct investment into Egypt fell 39% in 2020<\/strong> as fears over the coronavirus pandemic caused a historic drop in global investment flows, according to the United Nations Conference on Trade and Development\u2019s (UNCTAD) most recent <a href=\"https:\/\/unctad.org\/system\/files\/official-document\/diaeiainf2021d1_en.pdf\">Investment Trends Monitor (pdf)<\/a>. Egypt attracted USD 5.5 bn of FDI last year, down from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b8b33dcc-072d-48a0-8299-607f00a17e43\">USD 8.5 bn in 2019<\/a>, in what was a sharper drop than the 32% average among North African economies and 18% dip across Africa. <strong>Despite this, <\/strong><strong>Egypt remained the top destination for FDI on the continent.<\/strong><\/p>\n<p><strong>Developing economies got off fairly lightly<\/strong>, seeing a 12% fall in FDI during the year. This compares to the 42% decline in global flows (amounted to some USD 630 bn), which was slightly worse than <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a9a1413e-113e-4190-9821-6d739763b7d0\">UNCTAD\u2019s projection for the year made in October<\/a>. <strong>To put that in context:<\/strong> That\u2019s 30% lower than the nadir seen in the aftermath of the global financial crisis.<\/p>\n<p><strong>The pain was felt most by advanced economies in Europe and the US<\/strong>, which saw a 69% plunge in inflows. Overall, developing economies still account for the bulk of global inflows, reaching a record 72%.<\/p>\n<p><strong>FDI will remain weak in 2021<\/strong> due to low greenfield finance announcements last year\u2014which fell by about 63% in Africa and 46% for developing economies \u2014 and continued uncertainty over the rollout of covid-19 vaccines. Growth in 2021 is expected to largely come from less productive cross border M&A \u2014 particularly in tech and healthcare \u2014 rather than new projects. And as for new industrial investment: the outlook \u201cdoes not bode well,\u201d the report says.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/unctad\/\">UNCTAD<\/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=\"559609\" 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=\"559609\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/egypts-gdp-to-grow-2-8-this-fy-imf-is-out-with-a-more-optimistic-global-forecast\/\">\r\n                            Egypt\u2019s GDP to grow 2.8% this FY + IMF is out with a more optimistic global forecast                        <\/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\/01\/27\/egypts-gdp-to-grow-2-8-this-fy-imf-is-out-with-a-more-optimistic-global-forecast\/\" 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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This is a downwards revision from the 3.3% growth economists predicted in the last poll the newswire conducted <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/30c511ed-d416-456f-860b-1cfa0e51baab\">in October<\/a>. The forecast sits at the lower end of the Finance Ministry\u2019s most recent GDP growth target range, which it set at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/31d82a35-c9b5-4ce5-afa9-37d48c7bfacb\">2.8-4.0%<\/a>. The poll\u2019s expectations are also on par with the IMF\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d0f0225e-15bb-41ec-b441-e7f0beb52b47\">most recent growth outlook<\/a> for Egypt.<\/p>\n<p><strong>The downgrade is attributed to the downturn in the tourism industry<\/strong>, which was also the key factor for muted growth economists cited in the October poll. HC Securities\u2019 Monette Doss points to expectations of \u201cweak tourism receipts\u201d through the rest of the fiscal year as being \u201cthe main drag on the economy.\u201d Some 3.7 mn tourists visited Egypt in 2020 \u2014 a 75% y-o-y drop from a record 13 mn in 2019.<\/p>\n<p><strong>A rebound in growth over the next two fiscal years is still in the cards<\/strong>, the economists predict, albeit at a slightly lower rate in FY2022-2023 than they previously expected. The economy is still on track to grow 5% in FY2021-2022, and will expand at a 5.4% clip the following fiscal year \u2014 down from the most recent forecast of 5.5%.<\/p>\n<p><strong>Private-sector investment<\/strong><strong> will drive growth<\/strong>, spurred on by lower rates and higher public spending, Doss says. The economists predict that the central bank\u2019s overnight lending rate will be cut 100 bps to sit at 8.25% by the end of June 2021, remaining steady until June 2023, when the central bank could raise rates by 25 bps to 8.50%.<\/p>\n<p><strong>Inflation is still expected to decelerate in FY2021-2022 before rising over the next two years:<\/strong> Economists now expect annual urban consumer price inflation to come in at 5.6%, two percentage points weaker than the last time around, but have held firm on their expectation that inflation will come in at 7% in FY2022-2023 and FY2023-2024.<\/p>\n<p><strong>And the EGP is seen sliding less than before:<\/strong> The currency is now expected to hover at EGP 16.11 to the greenback by December 2021, from its current EGP 15.67, rather than EGP 16.50 as in the previous poll. In 2022 economists see the currency weakening further to EGP 16.63, but this is also a more upbeat forecast than the previous poll.<\/p>\n<p style='font-size: 18px;font-weight: bold' >And as for the rest of the world \u2026<\/p>\n<p><strong>The IMF sees the global economy mounting a more rapid recovery this year<\/strong> after last year\u2019s smaller-than-expected contraction. In its updated World Economic Outlook, the fund see the world economy growing 5.5% in 2021 \u2014 0.3 percentage points higher than its expectations <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/307c82aa-8655-4348-9cdd-bc0c68450f60\">three months ago<\/a> \u2014 \u201creflecting expectations of a vaccine-powered strengthening of activity later in the year and additional policy support in a few large economies.\u201d Growth forecasts for next year are now at 4.2%.<\/p>\n<p><strong>Emerging markets will grow 6.3% in 2021, the fund says<\/strong>, up from its last forecast of 6.0%.<\/p>\n<p><strong>Thanks to a low base effect, we\u2019re going to see EM-type growth from the US of A<\/strong>, with the Biden administration on track to claim 5.1% growth in 2021.<\/p>\n<p><strong>But we\u2019re not out of the <\/strong><strong>woods: The ongoing second wave of covid and <\/strong>the emergence of new strains of the virus will dampen many economies in 1Q2021. <strong><a href=\"https:\/\/ent.news\/2021\/1\/IMF-January2021outlook.pdf\">Tap \/ click here to read the full report (pdf)<\/a><\/strong><strong>.<\/strong><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559611\" 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=\"559611\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/a-nice-present-for-valentines-day\/\">\r\n                            A nice present for Valentine\u2019s Day                        <\/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\/01\/27\/a-nice-present-for-valentines-day\/\" 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\/01\/27\/a-nice-present-for-valentines-day\/')\">\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\/01\/27\/a-nice-present-for-valentines-day\/\">\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=A nice present for Valentine\u2019s Day&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/a-nice-present-for-valentines-day\/\">\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\/01\/27\/a-nice-present-for-valentines-day\/&title=A nice present for Valentine\u2019s Day\">\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=A+nice+present+for+Valentine%E2%80%99s+Day+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F27%2Fa-nice-present-for-valentines-day%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\/01\/27\/a-nice-present-for-valentines-day\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559611\" class=\"content-area-description single-story post-559611 post type-post status-publish format-standard hentry category-energy tag-egas tag-egyptian-general-petroleum-corporation tag-energy tag-eni tag-enterpriseam tag-idku-lng-plant tag-naturgy tag-oil-and-gas tag-shell wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The first test shipment out of Damietta\u2019s LNG plant will be sent out on 14 February<\/strong> as Italy\u2019s Eni takes over the plant\u2019s operations from Spain\u2019s Naturgy under the terms of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad5970a1-92ff-4549-8f1e-39e6ebc941a1\">an agreement<\/a> between the two companies and the Egyptian government, <a href=\"https:\/\/www.spglobal.com\/platts\/en\/market-insights\/latest-news\/natural-gas\/012621-egyptian-lng-exports-remain-strong-as-damietta-lng-prepares-to-restart\">S&P Global<\/a> reports. Under the new agreement, Eni will hold a 50% stake in the Spanish Egyptian Gas Company (SEGAS) \u2014 owner of the Damietta plant \u2014 while state owned EGAS will hold 40%, with the remaining 10% held by the Egyptian Gas and Petroleum company (EGPC). The test shipment will be the first step towards adding Damietta\u2019s exports to the Shell-operated Idku plant \u2014 Egypt\u2019s sole LNG exporter \u2014 and boosting Egypt\u2019s ability to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a2b2645b-2a0e-47c8-bcf7-c3bc35d5d40a\">export gas to European markets<\/a>.<\/p>\n<p><strong>Exports at the Idku plant are up: <\/strong>Seven cargoes have been shipped from the Idku plant since the start of 2021, compared to 6 cargoes in 1Q2020, according to data obtained by S&P from trade flow software cFlow. Exports had already begun picking up in 4Q2020 with 17 cargoes shipped to mostly China, India and Turkey. Exports from Idku were halted in March 2020 as global gas prices plunged \u2014 with only one tanker leaving the facility between March and July \u2014 though exports resumed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9c0ac814-b962-4593-8678-a9c81beca39c\">last October<\/a>.<\/p>\n<p><strong>IN OTHER ENERGY NEWS- <\/strong><strong>ADES SAE has <\/strong><strong><a href=\"https:\/\/www.oedigital.com\/news\/484806-ades-bags-jack-up-rig-deal-in-egypt\">signed<\/a><\/strong><strong> a six-month drilling agreement in the Gulf of Suez<\/strong> with an unnamed \u201ctop tier\u201d client, with the option of extending the contract for another six-month period.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egas\/\">EGAS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-general-petroleum-corporation\/\">Egyptian General Petroleum Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eni\/\">Eni<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/idku-lng-plant\/\">Idku LNG plant<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/naturgy\/\">Naturgy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/shell\/\">Shell<\/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=\"559612\" 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=\"559612\">\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\">FINANCIAL INCLUSION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/hey-kids-want-a-bank-account\/\">\r\n                            Hey kids, want a bank account?                        <\/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\/01\/27\/hey-kids-want-a-bank-account\/\" 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\/01\/27\/hey-kids-want-a-bank-account\/')\">\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\/01\/27\/hey-kids-want-a-bank-account\/\">\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=Hey kids, want a bank account?&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/hey-kids-want-a-bank-account\/\">\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\/01\/27\/hey-kids-want-a-bank-account\/&title=Hey kids, want a bank account?\">\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=Hey+kids%2C+want+a+bank+account%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F27%2Fhey-kids-want-a-bank-account%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\/01\/27\/hey-kids-want-a-bank-account\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559612\" class=\"content-area-description single-story post-559612 post type-post status-publish format-standard hentry category-financial-inclusion tag-agriculture tag-digitization tag-enterpriseam tag-financial-inclusion tag-smes wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>SMART POLICY- Folks under the age of 21 can now open bank accounts <\/strong><strong>without their parents or guardians\u2019 consent,<\/strong> the Central Bank of Egypt (CBE) said in a statement <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=26012021&id=20b58aa2-6ae2-4097-b336-a98924332a27\">cited by<\/a> state news agency MENA. Banks were directed to give those aged between 16 and 21 access to a limited number of banking services in a move the central bank hopes will increase the rate of financial inclusion.<\/p>\n<p><strong>Meanwhile, SMEs and agriculture players are being pushed further towards the digital light<\/strong> with a digital platform the Central Bank of Egypt (CBE) is working to set up to provide non-financial services, such as accounting, marketing, HR, and procurement support, CBE Governor Tarek Amer <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1841992065979150\">said<\/a>. The platform could also help link different players in the agriculture industry to streamline their commercial operations, Amer said, without providing further information.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/digitization\/\">digitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-inclusion\/\">financial inclusion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559613\" 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=\"559613\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/misr-italia-city-edge-lining-up-securitized-issuances-worth-a-combined-egp-1-6-bn\/\">\r\n                            Misr Italia, City Edge lining up securitized issuances worth a combined EGP 1.6 bn                        <\/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\/01\/27\/misr-italia-city-edge-lining-up-securitized-issuances-worth-a-combined-egp-1-6-bn\/\" 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\/01\/27\/misr-italia-city-edge-lining-up-securitized-issuances-worth-a-combined-egp-1-6-bn\/')\">\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\/01\/27\/misr-italia-city-edge-lining-up-securitized-issuances-worth-a-combined-egp-1-6-bn\/\">\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=Misr Italia, City Edge lining up securitized issuances worth a combined EGP 1.6 bn&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/misr-italia-city-edge-lining-up-securitized-issuances-worth-a-combined-egp-1-6-bn\/\">\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\/01\/27\/misr-italia-city-edge-lining-up-securitized-issuances-worth-a-combined-egp-1-6-bn\/&title=Misr Italia, City Edge lining up securitized issuances worth a combined EGP 1.6 bn\">\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=Misr+Italia%2C+City+Edge+lining+up+securitized+issuances+worth+a+combined+EGP+1.6+bn+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F27%2Fmisr-italia-city-edge-lining-up-securitized-issuances-worth-a-combined-egp-1-6-bn%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\/01\/27\/misr-italia-city-edge-lining-up-securitized-issuances-worth-a-combined-egp-1-6-bn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559613\" class=\"content-area-description single-story post-559613 post type-post status-publish format-standard hentry category-debt-watch tag-cib tag-debt-watch tag-el-taamir-securitization tag-enterpriseam tag-misr-italia-properties tag-mortgage-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Al Taamir for Securitization<\/strong><strong> is gearing up to take to market securitized bonds <\/strong><strong>for Misr Italia and City Edge worth a combined EGP 1.6 bn<\/strong>, Al Taamir Chairman Mazen Hassan tells <a href=\"https:\/\/bit.ly\/39jjDhC\">Hapi Journal<\/a>. City Edge is on track for an offering of about EGP 600 mn, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f0879889-cdbb-4876-aceb-b73f1b1e1d31\">backed<\/a> by 200 units the company has sold in its Etapa project in Sheikh Zayed, as early as April. Misr Italia are eyeing a separate EGP 1 bn issuance backed by completed units at its Bosco and Cairo Business Park projects at the new administrative capital, Kai Sokhna development and the La Nova Vista Compound in New Cairo. Misr Italia hasn\u2019t said anything about its timeline. Al Taamir is a special purpose vehicle set up by the New Urban Communities Authority.<\/p>\n<p><strong>ALSO FROM THE WORLD OF DEBT- <\/strong><\/p>\n<p><strong>CIB signed a cooperation protocol with City Edge that will see the leader private<\/strong><strong> sector bank provide up to EGP 1 bn for the developer\u2019s mortgage scheme<\/strong>, CIB\u2019s Assistant Vice President of Real Estate Ahmed Samaha told Enterprise. City Edge clients will be offered various mortgage finance options from CIB as part of the Central Bank of Egypt\u2019s (CBE) EGP 50 bn mortgage finance program launched <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8d024c4e-b8e6-4f20-b6df-b5117a7521c6\">last year<\/a>, City Edge Chairman Ashraf Salman <a href=\"https:\/\/hapijournal.com\/2021\/01\/25\/%d8%b3%d9%8a%d8%aa%d9%8a-%d8%a5%d9%8a%d8%af%d8%ac-%d8%aa%d9%88%d9%82%d8%b9-%d8%a8%d8%b1%d9%88%d8%aa%d9%88%d9%83%d9%88%d9%84-%d8%aa%d8%b9%d8%a7%d9%88%d9%86-%d9%85%d8%b9-%d8%a7%d9%84%d8%a8%d9%86%d9%83\/\">said<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-taamir-securitization\/\">El Taamir Securitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-italia-properties\/\">Misr Italia Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mortgage-finance\/\">mortgage finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559614\" 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=\"559614\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/and-so-it-begins-2\/\">\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\/01\/27\/and-so-it-begins-2\/\" 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\/01\/27\/and-so-it-begins-2\/')\">\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\/01\/27\/and-so-it-begins-2\/\">\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\/01\/27\/and-so-it-begins-2\/\">\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\/01\/27\/and-so-it-begins-2\/&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%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F27%2Fand-so-it-begins-2%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\/01\/27\/and-so-it-begins-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559614\" class=\"content-area-description single-story post-559614 post type-post status-publish format-standard hentry category-diplomacy tag-diplomacy tag-enterpriseam tag-human-rights tag-joe-biden tag-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>More pressure on human rights could be coming from the US Congress: <\/strong>Two members of Congress <a href=\"https:\/\/beyer.house.gov\/news\/documentsingle.aspx?DocumentID=5025\">formed a \u201cEgypt Human Rights Caucus\u201d<\/a> to mark the 10th anniversary of the 25 January Revolution. The lawmakers behind the group \u2014 ex State Department officials Don Beyer and Tom Malinowski \u2014 say they will work to build bipartisan support to increase pressure on the Egyptian government.<\/p>\n<p><strong>Biden concerns: <\/strong>US President Joe Biden talked up human rights on the campaign trail, raising concerns in the process about close ties Egypt enjoyed under Trump. These were heightened by the appointment of Anthony Blinken to the top foreign policy job in the new administration: Blinken has in the past <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/33093009-4f4b-46c2-a8f1-7fe527137b12\">been critical<\/a>about Egypt\u2019s human rights record, and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6decddaf-1e4f-4574-9773-6c8ea237eab6\">US insiders have suggested<\/a> that the White House could apply direct pressure on Egypt.<\/p>\n<p><strong>All of this was too much for Ala Mas\u2019ouleety\u2019s Ahmed Moussa<\/strong>, who attacked the Egyptian National Council for Human Rights for its silence towards the moves in the US and demanded that the Foreign Ministry mount a stronger response <a href=\"https:\/\/www.youtube.com\/watch?v=bqrYn8-v-QU\">(watch, runtime: 3:05)<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/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\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559615\" 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=\"559615\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/tourism-companies-get-legislative-boost-with-new-amendments\/\">\r\n                            Tourism companies get legislative boost with new amendments                        <\/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\/01\/27\/tourism-companies-get-legislative-boost-with-new-amendments\/\" 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\/01\/27\/tourism-companies-get-legislative-boost-with-new-amendments\/')\">\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\/01\/27\/tourism-companies-get-legislative-boost-with-new-amendments\/\">\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=Tourism companies get legislative boost with new amendments&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/tourism-companies-get-legislative-boost-with-new-amendments\/\">\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\/01\/27\/tourism-companies-get-legislative-boost-with-new-amendments\/&title=Tourism companies get legislative boost with new amendments\">\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=Tourism+companies+get+legislative+boost+with+new+amendments+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F27%2Ftourism-companies-get-legislative-boost-with-new-amendments%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\/01\/27\/tourism-companies-get-legislative-boost-with-new-amendments\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/344.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"559616\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/tourism-companies-get-legislative-boost-with-new-amendments\/344-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/344.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"344.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/344.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/344.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559615\" class=\"content-area-description single-story post-559615 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-enterpriseam tag-food-security tag-khaled-el-anany tag-legislation-watch tag-tax tag-tax-authority tag-tourism tag-tourism-and-antiquities-ministry tag-vat-act wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Proposed amendments to the <\/strong><strong>Tourism Licensing Act<\/strong><strong> are now out for public consultations<\/strong>, with Tourism Minister Khaled El Enany meeting earlier this week with the head of the Egyptian Tourism Federation and other industry stakeholders to discuss the bill, according to a cabinet <a href=\"https:\/\/bit.ly\/39gvsF9\">statement<\/a>. The amendments are designed to modernize tourism companies to bring them up to par with contemporary services, the statement says without providing further details.<\/p>\n<p><strong>ALSO FROM IN THE HOUSE<\/strong><strong>-<\/strong><\/p>\n<ul>\n<li><strong>The creation of an online portal to reserve Umrah trips<\/strong> earned a preliminary nod from the House Tourism and Civil Aviation Committee, reports <a href=\"https:\/\/dailynewsegypt.com\/2021\/01\/25\/parliament-initially-approves-draft-law-for-umrah-portal\/\">the local press<\/a>.<\/li>\n<li><strong>Ministries and state-affiliated bodies will soon need to remit 20% of their VAT dues and 100% of schedule taxes to the Tax Authority within 10 days of a transaction <\/strong>under legislative changes approved by the House Planning Committee yesterday, according to <a href=\"https:\/\/bit.ly\/3okZsE7\">Al Mal<\/a>.<\/li>\n<li><strong>Draft amendments to a law that regulates committees that resolve disputes to which ministries and state-owned companies are party <\/strong><a href=\"https:\/\/bit.ly\/3t0Ctlm\">were approved<\/a> by the House Legislative Committee yesterday. The changes restrict the work of those committees to disputes between a ministry or a state-owned firm and their employees.<\/li>\n<li><strong>A bill to set up an authority to protect lakes and fisheries <\/strong>was also approved \u201cin principle\u201d by the House Irrigation and Agriculture Committee, reports <a href=\"https:\/\/bit.ly\/3qXJ2TE\">Masrawy<\/a>.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food-security\/\">food security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/khaled-el-anany\/\">Khaled El Anany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax-authority\/\">Tax Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism-and-antiquities-ministry\/\">Tourism and Antiquities Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vat-act\/\">VAT Act<\/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=\"559617\" 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=\"559617\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/559617\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559617\" class=\"content-area-description single-story post-559617 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\/1\/Sodic-Karmell2-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559618\" 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=\"559618\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/isqan-com-raises-usd-six-figure-seed-round\/\">\r\n                            Isqan.com raises USD six-figure seed round                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/isqan-com-raises-usd-six-figure-seed-round\/\" 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\/01\/27\/isqan-com-raises-usd-six-figure-seed-round\/')\">\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\/01\/27\/isqan-com-raises-usd-six-figure-seed-round\/\">\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=Isqan.com raises USD six-figure seed round&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/isqan-com-raises-usd-six-figure-seed-round\/\">\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\/01\/27\/isqan-com-raises-usd-six-figure-seed-round\/&title=Isqan.com raises USD six-figure seed round\">\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=Isqan.com+raises+USD+six-figure+seed+round+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F27%2Fisqan-com-raises-usd-six-figure-seed-round%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\/01\/27\/isqan-com-raises-usd-six-figure-seed-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559618\" class=\"content-area-description single-story post-559618 post type-post status-publish format-standard hentry category-startup-watch tag-digitization tag-enterpriseam tag-real-estate tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egyptian real estate listings platform <\/strong><strong><a href=\"https:\/\/www.isqan.com\/ar\/\">Isqan.com<\/a><\/strong><strong> has raised a six-figure USD seed <\/strong><strong>investment from <\/strong><strong><a href=\"https:\/\/egygab.com\/\">Egygab Holding<\/a><\/strong><strong> CEO Mohamed Gaballah<\/strong>, according to <a href=\"https:\/\/ent.news\/2021\/1\/Press-Release-isqan-EN.docx.pdf\">a statement (pdf)<\/a>. Isqan.com, which was founded four months ago, plans to use the investment to grow its team and product offerings. The company is looking to \u201cdigitize the entire real estate industry in Egypt\u201d through a comprehensive database of listings that users can search through. Isqan is eyeing another financing round towards the end of the year to continue expanding, the statement says.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/digitization\/\">digitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559619\" 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 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data-block-id=\"ditffsp\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ditffsp-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ditffsp-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            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class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/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\/01\/27\/last-nights-talk-shows-on-27-january-2021\/\">\r\n                            Last Night\u2019s Talk Shows on 27 January 2021                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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<\/a>\r\n\r\n                \n<article id=\"post-559620\" class=\"content-area-description single-story post-559620 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-enterpriseam tag-ethiopia tag-gerd tag-house-of-representatives tag-last-nights-talk-shows tag-sameh-shoukry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>GERD was top of Foreign Minister Sameh Shoukry\u2019s agenda yesterday when we<\/strong> <strong>addressed MPs<\/strong>, <a href=\"http:\/\/bit.ly\/3pkCNsU\">telling them<\/a> that finding a way through the stalemate is the country\u2019s top foreign policy goal. The minister stressed the importance of reaching a binding legal agreement with Sudan and Ethiopia over the dam, laying the blame at Ethiopia\u2019s doorstep for acting \u201cunilaterally and intransigently.\u201d Masaa DMC's Ramy Radwan phoned MP Tarik El Khouly, who praised Dhoukry for enhancing Egypt's position on the international stage <a href=\"https:\/\/www.youtube.com\/watch?v=pJsdWviy9Jc\">(watch, runtime: 13:22)<\/a>.<\/p>\n<p><strong>Elsewhere on the airwaves last night:<\/strong><\/p>\n<ul>\n<li><strong>CMA CGM contender for Alex port project:<\/strong> French shipping company CMA CGM could be interested in taking charge of the new Alexandria port terminal, the CEO of the company <a href=\"https:\/\/bit.ly\/3iPaMHm\">told President Abd El Fattah El Sisi<\/a> in a meeting yesterday (Al Hayah Al Youm | <a href=\"https:\/\/www.youtube.com\/watch?v=9UsVSFB9npA\">watch, runtime: 4:50<\/a>).<\/li>\n<li><strong>25 January Revolution:<\/strong> Bibliotheca Alexandrina chief Mostafa El Feki discussed the changes in the Egyptian political scene 10 years after the revolution (Yahduth Fi Misr | watch, runtime: <a href=\"https:\/\/www.youtube.com\/watch?v=GPhZOQWUyoE\">3:58<\/a> | <a href=\"https:\/\/www.youtube.com\/watch?v=_QmdTfWiW-U\">3:46<\/a>).<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/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\/sameh-shoukry\/\">Sameh Shoukry<\/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=\"559621\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559622\" 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=\"559622\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/also-on-our-radar-on-27-january-2021\/\">\r\n                            Also on our radar on 27 January 2021                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/also-on-our-radar-on-27-january-2021\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/also-on-our-radar-on-27-january-2021\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/also-on-our-radar-on-27-january-2021\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Also on our radar on 27 January 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/also-on-our-radar-on-27-january-2021\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/also-on-our-radar-on-27-january-2021\/&title=Also on our radar on 27 January 2021\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Also+on+our+radar+on+27+January+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F27%2Falso-on-our-radar-on-27-january-2021%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/also-on-our-radar-on-27-january-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559622\" class=\"content-area-description single-story post-559622 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-corruption tag-edita tag-egyptian-airports-company tag-enterpriseam tag-renewable-energy tag-renewables tag-tax-authority tag-voltalia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Former Tax Authority head Abdel Azim Hussein will be put on trial at a criminal court to <\/strong><strong>face charges of corruption<\/strong>, reports <a href=\"http:\/\/gate.ahram.org.eg\/News\/2566689.aspx\">Ahram Gate<\/a>. An investigation into Hussein and five of his associates found evidence that he accepted bribes, leading the public prosecutor to refer him to trial. Hussein was arrested <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b7c7fae3-6c25-45df-8b87-f19d9ac7223a\">last year<\/a> on what appeared to have been a sting operation.<\/p>\n<p><strong>The Egyptian Airports Company<\/strong> is planning a EGP 1 bn expansion project at Sphinx International Airport to <a href=\"https:\/\/bit.ly\/3cdIa9E\">boost its capacity<\/a> to nine flights and 900 passengers per hour. <strong>Meanwhile: <\/strong>French renewables player Voltalia increased its solar-generated electricity production in Egypt fivefold to 76.5 GWh in 2020, it said in its <a href=\"https:\/\/www.voltalia.com\/uploads\/08_Not%C3%ADcias\/Press_Releases\/2021\/20210126_Voltalia_Q4_and_FY_revenues_EN.pdf\">earnings statement (pdf)<\/a>.<\/p>\n<p>EGX-listed snackfoods giant <strong>Edita has launched its Molto Mini Magnum product <\/strong>as part of the company\u2019s strategy \u201cto migrate consumers towards higher price-points,\u201d according to a <a href=\"https:\/\/ent.news\/2021\/1\/Edita-Press-Release-Molto-Mini-Magnum-Launch-English.pdf\">company statement (pdf)<\/a>. Molto Mini Magnum is available in the chocolate and hazelnut cream flavor, and forms<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/corruption\/\">Corruption<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/edita\/\">Edita<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-airports-company\/\">Egyptian Airports Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax-authority\/\">Tax Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/voltalia\/\">Voltalia<\/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=\"559623\" 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=\"559623\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/what-the-markets-are-doing-on-27-january-2021\/\">\r\n                            What the markets are doing on 27 January 2021                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/what-the-markets-are-doing-on-27-january-2021\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Foreign investors were net sellers. The index is up 6.3% YTD.<\/p><p><strong>In the green: <\/strong>Dice (+6%), Pioneers (+4.1%) and Juhayna (+3.9%).<\/p><p><strong>In the red: <\/strong>Orascom Development Egypt (-3%), Oriential Weavers (-1.2%) and Madinet Nasr Housing (-1.2%).<\/p><p><strong>Asian markets are mostly in the red this morning following a steep sell-off on Tuesday. <\/strong>US and major European indices look to follow them later today ahead of the Federal Reserve meeting.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,527<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: +6.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.68<\/p>\n<\/td>\n<td>\n<p>Sell 15.78<\/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>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.67<\/p>\n<\/td>\n<td>\n<p>Sell 15.77<\/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>8,789<\/p>\n<\/td>\n<td>\n<p>-0.65% (YTD: +1.15%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>5,582<\/p>\n<\/td>\n<td>\n<p>-0.63% (YTD: +10.65%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td>\n<p> Down<\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,698<\/p>\n<\/td>\n<td>\n<p>-0.93% (YTD: +8.27%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,849<\/p>\n<\/td>\n<td>\n<p>-0.15% (YTD: +2.49%)<\/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>6,654.01<\/p>\n<\/td>\n<td>\n<p>+0.23% (YTD: +2.99%)<\/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 55.91<\/p>\n<\/td>\n<td>\n<p>+0.05%<\/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 2.65<\/p>\n<\/td>\n<td>\n<p>-0.19%<\/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 1,853.30<\/p>\n<\/td>\n<td>\n<p>-0.08%<\/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 32,600.59<\/p>\n<\/td>\n<td>\n<p>+0.65%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"559624\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">16<\/div>\r\n    \r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/egypts-data-landscape-pt-ii-whats-driving-data-center-growth\/\"> \r\n                            Egypt\u2019s data landscape Pt II: What\u2019s driving data center growth?<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/egypts-data-landscape-pt-ii-whats-driving-data-center-growth\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n 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alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"559625\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/egypts-data-landscape-pt-ii-whats-driving-data-center-growth\/347-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/347.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"347.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/347.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/347.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-559624\" class=\"content-area-description post-559624 hardhat type-hardhat status-publish has-post-thumbnail hentry tag-cybersecurity tag-enterprise-hardhat tag-enterpriseam tag-google tag-infrastructure tag-new-administrative-capital tag-orange-egypt tag-subsea-cables tag-telecom-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-08\"><\/a> <strong>Egypt\u2019s data landscape Pt II: What\u2019s driving data center growth?<\/strong> Late last year <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dccf473a-1577-4243-9e1b-f271fb01c228\">Hardhat looked at Egypt\u2019s existing data infrastructure<\/a>, and found that its current cluster of data centers is not enough to transform it into a regional \u2014 or even global \u2014 data hub. This could be changing though, with Telecom Egypt set to start work on Egypt\u2019s largest center and several international firms establishing facilities of their own. Egypt itself is playing an important role in the African data center market, which is expected to grow at double the rate of the global average by 2025. But what is driving this growth?<\/p>\n<p><strong>We have major data centers under construction, <\/strong>including the <a href=\"https:\/\/www.intelligentcio.com\/me\/2020\/01\/24\/orange-egypt-to-build-new-data-centre-in-administrative-capital\/\">New Capital facility<\/a> being built by Orange \u2014 which is set to host over 400 servers \u2014 in cooperation with industry vendors including Dell EMC, Cisco, and Nokia, Orange Egypt\u2019s Chief Enterprise Line of Business Officer Hisham Mahran tells Enterprise.<\/p>\n<p><strong>One of these \u2014 state-owned <\/strong><strong><a href=\"https:\/\/www.insidetelecom.com\/telecom-egypt-to-construct-largest-international-data-center\/\">TE\u2019s Smart Village data center<\/a><\/strong><strong> \u2014 would be considered hyperscale, <\/strong>says one source speaking off the record, adding that it will be Egypt\u2019s only hyperscale data center once it\u2019s up and running. The data center is expected to be commissioned in early 2021, and will have access to all the global submarine cable systems that land in Egypt. It\u2019s set to have 1600-2000 racks, but TE hasn\u2019t disclosed how many servers it will house. Hyperscale facilities <a href=\"https:\/\/www.aflhyperscale.com\/understanding-different-types-of-data-center\/#:~:text=Hyperscale%20Data%20Center,services%20to%20individuals%20or%20businesses.\">usually have<\/a> a minimum of 5000 servers linked with an ultra-high speed, high fiber count network. They require at least 1000 racks (approximately four megawatts of electricity), another source previously told Enterprise.<\/p>\n<p><strong>More hyperscale data centers are exactly what Egypt needs to become a data hub, <\/strong>sources indicate. They\u2019re essential for attracting Cloud Service Providers (CSPs) and OTTs (streaming media services offered directly to viewers via the internet).<\/p>\n<p><strong>Meanwhile, TE\u2019s future plans span investment in infrastructure, and more international partnerships,<\/strong> the company says. TE is investing in new subsea landing stations and crossing routes, and new subsea stations, the company says, without giving details on the size of these investments. It plans to have 12 landing stations and 12 diversified routes by 2022 \u2014 up from the 10 stations and routes it already owns and operates \u2014 as well as setting up international nodes (connection points) in countries including Jordan, Singapore, Italy, and France.<\/p>\n<p><strong>And hosting content:<\/strong> TE plans to set up more colocation data centers, in addition to the six it currently owns and operates. And it intends to set up more partnerships with global organizations, similar to its existing partnership with Microsoft offering Egypt Azure cloud services, and sign more agreements like its existing ones with <a href=\"https:\/\/www.subspace.network\/about\/\">Subspace<\/a>, <a href=\"https:\/\/www.zenlayer.com\/\">Zenlayer<\/a>, and <a href=\"https:\/\/en.wangsu.com\/\">Wangsu Science & Technology<\/a>, to deliver online content.<\/p>\n<p><strong>Egypt already has some significant advantages driving overall data center growth, <\/strong>which could <strong>encourage more companies to set up hyperscale data centers here: <\/strong><\/p>\n<p><strong>#1- \u201cIdeal\u201d geographic positioning:<\/strong> Egypt links Europe with Asia, so data traffic currently has to pass through us to get from one continent to the other. Under the right circumstances, this could make Egypt the Suez Canal of data traffic, say multiple sources, including former ICT Minister Khaled Negm. \u201cEgypt is a prime location for potential hyperscale data centers,\u201d says Sherif Elmasry, managing director of tech company <a href=\"https:\/\/cornetelevated.com\/\">Cornet Elevated<\/a>.<\/p>\n<p><strong>#2- Our abundance of internet submarine cables: <\/strong>A total of 13 subsea cables land in Egypt, and data then crosses the country through the 10 subsea landing stations and 10 diversified land routes owned and operated by TE. As an internet subsea cable hub, Egypt is the natural conduit for data traffic, which could enable us to become a data hub, says Youssef Amin, market data director at <a href=\"https:\/\/www.egidegypt.com\/index.php\/about-us\/\">Egypt for Information Dissemination (EGID)<\/a>, a joint venture between the Egyptian Exchange (EGX) and NASDAQ, which owns and operates one of Egypt\u2019s 13 colocation centers. Subsea cables <a href=\"https:\/\/www.wsj.com\/articles\/u-s-takes-on-chinas-huawei-in-undersea-battle-over-the-global-internet-grid-11552407466?mod=article_inline\">are usually owned<\/a> by telecom operators, or sometimes by content providers like Facebook and Google, with smaller players renting bandwidth. The large number of subsea cables passing through Egypt should allow us to bolster capacity and bandwidth, <a href=\"https:\/\/enterprise.press\/hardhats\/egypt-make-better-use-position-subsea-internet-cable-hub\/\">we reported in July 2020<\/a>.<\/p>\n<p><strong>#3- TE\u2019s participation in projects like the 2Africa submarine cable project:<\/strong> TE <a href=\"https:\/\/www.fibre-systems.com\/news\/new-subsea-cable-connect-23-african-countries-courtesy-collaboration\">is teaming up<\/a> with seven other big-name parties to lay a giant 37k-km subsea cable \u2014 one of the world\u2019s largest \u2014 linking Europe (via Egypt), the Middle East (via Saudi Arabia) and 16 countries in Africa. TE is present in over 60 countries, delivering \u201ca complete range\u201d of telecom services across continents, representatives tell Enterprise. In 2018, TE <a href=\"https:\/\/enterprise.press\/stories\/2018\/07\/15\/te-to-connect-cairo-to-liquid-telecoms-fiber-optic-cable-network-in-southern-africa\/\">signed an agreement<\/a> with Liquid Telecom to complete a fiber optic network to connect southern African countries with the rest of the world. It also <a href=\"https:\/\/enterprise.press\/stories\/2018\/12\/16\/egypts-te-fiber-misr-sign-mou-on-subsea-fiber-optic-cable-services\/\">signed an MoU<\/a> to expand and service submerged fiber optic cables in the region. And a recent agreement between <a href=\"https:\/\/ent.news\/2021\/1\/Telecom-Google-Agreement.pdf\">TE and Google (pdf)<\/a> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/024c834b-fee9-4dd3-a3cf-6cba231ed4b0\">will grant Google capacity<\/a> on TE\u2019s Mediterranean submarine cable, TE North. The project is expected to go live in 1H2021.<\/p>\n<p><strong>#4- Surplus electricity and the relative affordability of data center construction:<\/strong> Egypt\u2019s <a href=\"https:\/\/enterprise.press\/hardhats\/surplus-electricity-still-get-power-cuts\/\">surplus electricity<\/a> offers ample resources for energy-intensive operations like data centers, says Amr Farouk, who heads up the Future of Data Centers summit. Electricity generation capacity stands <a href=\"https:\/\/enterprise.press\/hardhats\/infrastructure-whats-come-2021\/\">at around 58 GW<\/a>, but peak demand ranges from 30-32 GW. Egypt can also provide cost-effective technical and operational support to data center construction, Farouk adds.<\/p>\n<p><strong>#5-<\/strong> <strong>New data protection laws:<\/strong> Laws covering data protection and cybercrime are important in attracting investors, and with the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f2fa1641-48dc-4615-8302-e5ae1fab6df6\">recent ratification<\/a> of the <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/02\/breaking-down-egypts-data-protection-act\/\">Data Protection Act<\/a>, Egypt now has that vital legal framework, Farouk believes.<\/p>\n<p><strong>But will this be enough to fulfil Egypt\u2019s data hub ambitions? Not alone,<\/strong> say sources. So far, the landscape is still too small to be a hub. The only way to leverage our advantages is by making the infrastructure more cost-effective and reliable \u2014 in part, through private sector-government partnership, they argue. We discuss this in detail next week.<\/p>\n<p><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>A project to locally <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ebaaafcc-7c6e-4a72-a659-8b10b312f6fa\">assemble<\/a><\/strong><strong> electric vehicles should be announced today<\/strong> with the Military Production Ministry teaming up with an unnamed international company.<\/li>\n<li><strong>Greece\u2019s Energean is <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/70fe0efe-1504-4792-a82a-3c9da9db7522\">planning<\/a><\/strong><strong> to invest USD 235 mn<\/strong> to develop the North Amriya and North Idku concessions offshore Egypt.<\/li>\n<li><strong>Egypt is <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/716194fc-be66-47a9-9186-a1fab4db9441\">getting a slice<\/a><\/strong><strong> of CDC Group\u2019s planned USD 1 bn investments in Africa in 2021<\/strong>, with the group eyeing infrastructure and finance investments.<\/li>\n<li><strong>Egypt has recently added 28 GW to its electricity generation capacity,<\/strong> bringing surplus output to upward of 25%, Electricity Ministry spokesperson Ayman Hamza said on the airwaves this week (<a href=\"https:\/\/www.facebook.com\/watch\/?v=3664764103590002&t=1\">watch, runtime: 6:59<\/a>).<\/li>\n<li><strong>Hassan Allam Holding has <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3e7f7386-5c7c-428d-a763-5860ffaf851a\">landed<\/a><\/strong><strong> contracts for seven projects<\/strong> in infrastructure, water and wastewater treatment that will be implemented in villages spanning five governorates.<\/li>\n<li><strong>Egypt\u2019s ADSL speed of 34.88 Mbps <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3ca618d0-f07a-42ea-aa3e-a056e8bd3cb2\">ranked<\/a><\/strong><strong> us at 92 out of 176 countries<\/strong>, while our mobile internet speed was recorded at 20.42 Mbps, leaving us at 102 out of 139 countries.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cybersecurity\/\">cybersecurity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/google\/\">Google<\/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\/new-administrative-capital\/\">new administrative capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orange-egypt\/\">Orange Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsea-cables\/\">subsea cables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecom-egypt\/\">Telecom Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"559626\" 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\/01\/27\/calendar-on-27-january-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559626\" class=\"content-area-description single-story post-559626 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>13-31 January (Wednesday-Sunday): Egypt will host the 2021 <a href=\"https:\/\/www.handballegypt2021.com\/\">Men\u2019s Handball World Championship<\/a> in four venues in Alexandria, Cairo, Giza and the New Capital.<\/p>\n<p>25-29 January (Monday-Friday): The World Economic Forum\u2019s <a href=\"https:\/\/www.weforum.org\/events\/the-davos-agenda-2021\">Davos Agenda<\/a> (virtual).<\/p>\n<p>27-28 January (Wednesday-Thursday): Future Investment Initiative, Riyadh, Saudi Arabia.<\/p>\n<p>27 January (Wednesday): Roundtable on the \u201cCompetitive Advantages Of Sukuk.\u201d<\/p>\n<p>28 January (Thursday): National holiday in observance of 25 January revolution anniversary \/ Police Day.<\/p>\n<p>31 January (Sunday): The deadline for businesses to <a href=\"https:\/\/bit.ly\/3nQenFS\">electronically submit<\/a> their annual tax return to the Egyptian Tax Authority.<\/p>\n<p>4 February (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>12 February (Friday): Deadline to reach a settlement with the Tax Authority on overdue income, value-added, or real estate taxes without all the late fees. Late taxpayers are still eligible for a 50% exemption on interest fees and late penalties until 12 February under <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ddb3ee90-21ad-4399-b893-acd41317dd44\">a bill<\/a> passed last year, Tax Authority boss Reda Abdel Kader <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=21012021&id=77f4f7a1-57f4-4d53-b82c-f66c8f64fbc1\">said<\/a>.<\/p>\n<p>6-18 February (Saturday-Thursday): Mid-year school break (public schools \u2014 enjoy the break from bumper-to-bumper traffic).<\/p>\n<p>22 February- 5 March (Monday-Friday) Egypt will host the World Shooting Championship in 6 October\u2019s Shooting Club, with 31 countries set to participate<\/p>\n<p>18 March (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>8-10 April (Thursday-Saturday): The TriFactory\u2019s Endurance Festival at Somabay.<\/p>\n<p>13 April (Monday): First day of Ramadan (TBC).<\/p>\n<p>25 April (Sunday): Sinai Liberation Day.<\/p>\n<p>29 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC)<\/p>\n<p>29 April (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>1 May (Saturday): Labor Day (national holiday).<\/p>\n<p>2 May (Sunday): Easter Sunday.<\/p>\n<p>3 May (Monday): Sham El Nessim.<\/p>\n<p>13-15 May (Thursday-Saturday): Eid El Fitr (TBC).<\/p>\n<p>25-28 May (Tuesday-Friday): The World Economic Forum annual meeting, Singapore.<\/p>\n<p>31 May-2 June (Monday-Wednesday): <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show<\/a>, Egypt International Exhibition Center, New Cairo.<\/p>\n<p>30 May-15 June (Wednesday-Thursday): <a href=\"https:\/\/bit.ly\/398Prpy\">Cairo International Book Fair<\/a>.<\/p>\n<p>1 June (Tuesday): The IMF will conduct a second review of targets set under the USD 5.2 bn standby loan approved in June 2020 (proposed date).<\/p>\n<p>17 June (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>24 June (Thursday): End of the 2020-2021 academic year (public schools).<\/p>\n<p>26-29 June (Saturday-Tuesday): <a href=\"https:\/\/www.thebig5constructegypt.com\/?utm_source=Adestra&utm_medium=email&CID=003D000002UIHn4IAH&utm_campaign=Egyp%5Bt%20postponement%20generic%20exp%20visp&utm_term&utm_content=7014G000001cG3zQAE&CNAME=Enterprise\">The Big 5 Construct Egypt<\/a>, Cairo International Convention Center<\/p>\n<p>30 June (Wednesday): June 30 Revolution Day<\/p>\n<p>1 July: (Thursday): National holiday in observance of 30 June Revolution<\/p>\n<p>30 June- 15 July: National Book Fair.<\/p>\n<p>1 July (Thursday): Large taxpayers that have not yet signed on on to the e-invoicing platform <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/61c78b1b-ec60-46e8-9760-c995c81f34b9\">will suffer a host of penalties<\/a>, including removal from large taxpayer classification, losing access to government services and business, and losing subsidies.<\/p>\n<p>19 July (Monday): Arafat Day (national holiday)<\/p>\n<p>20-23 July (Tuesday-Friday): Eid Al Adha (national holiday)<\/p>\n<p>23 July (Friday): Revolution Day (national holiday)<\/p>\n<p>5 August (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>9 August (Monday): Islamic New Year<\/p>\n<p>16 September (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>1 October (Friday): <a href=\"https:\/\/www.expo2020dubai.com\">Expo 2020 Dubai<\/a> opens<\/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>18 October (Monday): Prophet\u2019s Birthday<\/p>\n<p>28 October (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>13-17 December: <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/396604\/Egypt\/Politics-\/Egypt-to-host-UN-anticorruption-conference-in-.aspx\">United Nations Convention against Corruption<\/a>, Sharm El Sheikh, Egypt.<\/p>\n<p>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p><strong>Note to readers: <\/strong>Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":559596,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-559595","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"17d35096-cf75-4f47-941e-d4963fc61379","teaser":"","photo_url":"https:\/\/ent.news\/2021\/1\/335.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>Landmark M&amp;As in education, pharma + the inside track on Galina\u2019s stake sale and IPO plans - 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\/landmark-mas-in-education-pharma-the-inside-track-on-galinas-stake-sale-and-ipo-plans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Landmark M&amp;As in education, pharma + the inside track on Galina\u2019s stake sale and IPO plans\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/landmark-mas-in-education-pharma-the-inside-track-on-galinas-stake-sale-and-ipo-plans\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T02:33:30+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/335.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\/landmark-mas-in-education-pharma-the-inside-track-on-galinas-stake-sale-and-ipo-plans\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/landmark-mas-in-education-pharma-the-inside-track-on-galinas-stake-sale-and-ipo-plans\/\",\"name\":\"Landmark M&As in education, pharma + the inside track on Galina\u2019s stake sale and IPO plans - 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