{"id":561247,"date":"2021-03-31T04:11:08","date_gmt":"2021-03-31T04:11:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=561247"},"modified":"2025-12-16T03:13:56","modified_gmt":"2025-12-16T03:13:56","slug":"efg-education-fund-hits-third-close-with-egp-250-mn-sfe-investment","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/efg-education-fund-hits-third-close-with-egp-250-mn-sfe-investment\/","title":{"rendered":"EFG Education Fund hits third close with EGP 250 mn SFE investment"},"content":{"rendered":"<section id=\"561249\" 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=\"561249\">\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\/03\/31\/what-were-tracking-on-31-march-2021\/\">\r\n                            What we\u2019re tracking on 31 March 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\/03\/31\/what-were-tracking-on-31-march-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\/03\/31\/what-were-tracking-on-31-march-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\/03\/31\/what-were-tracking-on-31-march-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 31 March 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/what-were-tracking-on-31-march-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\/03\/31\/what-were-tracking-on-31-march-2021\/&title=What we\u2019re tracking on 31 March 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+31+March+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F31%2Fwhat-were-tracking-on-31-march-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\/03\/31\/what-were-tracking-on-31-march-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561249\" class=\"content-area-description single-story post-561249 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-abdel-fattah-el-sisi tag-enterpriseam tag-ever-given tag-mohamed-maait tag-policy tag-suez-canal tag-suez-canal-authority tag-tax tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, friends, and welcome to last day of Q1 \u2014 and another big news day.<\/strong><\/p><p><strong>IT\u2019S A BIG DAY FOR: Investment news. <\/strong>The Sovereign Fund of Egypt has joined the EFG Hermes Education Fund as a limited partner, with its EGP 250 mn commitment bringing the fund to third close. The SFE is also looking to restructure its much of its real estate holdings into a new entity that it could IPO in the future.<\/p><p><strong>Meanwhile, EGX boss Mohamed Farid is looking forward to a good year<\/strong>, saying the exchange could see as many as six new listings in 2021 \u2014 and, in the process, lure institutional investors back from the sidelines. The market has been 60-70% retail since the great EM sell-off early in the pandemic.<\/p><p><strong>IN LOCAL COVID NEWS: We\u2019re getting nearly 1 mn more covid jabs today and there\u2019s <\/strong><strong>more on the horizon<\/strong>, health officials say. Some 854k doses of AstraZeneca\u2019s jab should land today and as many as 4.5 mn more should be here \u201cin the coming period,\u201d they said. <strong>Plus, mosques will be allowed to open for all five daily prayers <\/strong>plus taraweeh this Ramadan. The evening taraweeh prayers will be capped at 30 minutes in length.<\/p><p>We have the rundown on all of this and more in this morning\u2019s news well, below.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p><p><strong>It\u2019s also a morning full of warnings and reminders:<\/strong><\/p><ul>\n<li><strong>It\u2019s the last day to file your real estate taxes<\/strong>, which you can do <a href=\"https:\/\/digital.gov.eg\/\">here<\/a>.<\/li>\n<li>If you earn income outside a day job with a company (or if you\u2019re a freelancer, etc), you need to <strong>file your personal<\/strong><strong> income tax return today.<\/strong><\/li>\n<li><strong>Your corporate tax return is due one month <\/strong>from today.<\/li>\n<li>It is now 13 days until Ramadan.<\/li>\n<\/ul><p><strong>It\u2019s also the final day to settle building code violations with the government<\/strong>, which you can do until 10pm today, Local Development Ministry spokesperson Khaled Kassem told Ala Mas\u2019ouleety\u2019s Ahmed Moussa. Those who pay their settlement fees in banknotes will pay 25% less than those who pay electronically, according to Kassem. There are some 2.09 mn settlement requests that have come through to date (<a href=\"https:\/\/www.youtube.com\/watch?v=ITCnwTVtqbM\">watch, runtime: 16:00<\/a>).<\/p><p><strong>Your deadline to get an RFID tag on your car passed yesterday.<\/strong> We suggest hauling [redacted] to your moroor ASAP to affix the sticker on your windshield.<\/p><p><strong>YET ANOTHER WARNING: Many l<\/strong><strong>arge taxpayers<\/strong><strong> need to sign up for the state\u2019s new <\/strong><strong>e-invoicing system by mid-April or <\/strong><strong>face prosecution<\/strong>, Finance Minister Mohamed Maait said in a <a href=\"https:\/\/bit.ly\/3wmsPLA\">statement<\/a> warning companies that were on-boarded for the second rollout phase of the ministry\u2019s new platform. Maait had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/61c78b1b-ec60-46e8-9760-c995c81f34b9\">previously said<\/a> those failing to comply could face a host of penalties, including removal from large taxpayer classification, which would entail losing perks such as expedited tax procedures, settlements, and less frequent auditing. As things stand, the system is mandatory for some 481 of the country's largest taxpayers \u2014 134 of which joined during a pilot phase and 347 in the ongoing second phase, the statement said.<\/p><p><strong>The ministry is planning to get all 2.8k large taxpayers registered<\/strong> to use the platform <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7ffbf62-2086-4872-9cb4-37cb4716bab0\">by 1<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7ffbf62-2086-4872-9cb4-37cb4716bab0\">July<\/a>, before gradually rolling it nationwide.<\/p><p><strong>***CATCH UP QUICK<\/strong> with the top stories from yesterday\u2019s edition of EnterprisePM:<\/p><ul>\n<li><strong>An investigation to determine what went wrong with the Ever Given<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/559e5503-7570-4f02-a83a-fa6f30bd4f66\">is underway<\/a>. Expect lots of passing the buck.<\/li>\n<li><strong>Orascom Financial Holding is <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/364bfe75-57e3-4937-b7bb-8b2326205e78\">making its entry<\/a><\/strong><strong> into the fintech space<\/strong> with a new e-payments company.<\/li>\n<li>Egypt\u2019s three <strong>clearing and depository companies <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bc39bd64-22e8-47be-bad7-2dc15198bc05\">will need to run<\/a><\/strong><strong> their board elections under new rules<\/strong> announced by the Financial Regulatory Authority.<\/li>\n<\/ul><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>MARKET WATCH-<\/strong><\/p><p><strong>OPEC+ countries will likely decide to maintain production cuts at their monthly <\/strong><strong>meeting tomorrow<\/strong> after the coalition <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4a4f373f-fa8a-4243-a936-08ff7be3fd9c\">decided earlier this month<\/a> to maintain cuts through April, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-29\/opec-readies-for-output-talks-with-cautious-approach-vindicated?sref=mmeFTDW1\">Bloomberg<\/a>reports. The decision, which was broadly against expectations, came as the group shied away from overestimating a potential demand rebound. Brent prices had hit a two-year high of USD 70 \/ bbl following the 4 March announcement, but slumped by almost USD 10 \/ bbl the following week off of dampened demand following a renewed round of lockdowns in Europe and increased Iranian exports to China. Saudi Arabia\u2019s 1mn bbl \/ day production cut is likely to be extended yet again in tomorrow\u2019s meeting, observers say, with the coalition currently holding back around 8 mn bbl \/ day, or 8% of global oil supply, to avoid a glut and maintain prices.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>The Egyptian-Croatian Business Forum meets tomorrow<\/strong> for the first time<\/p><p>since 2010. On the table: Giving a nudge to both trade and investment, <a href=\"https:\/\/www.facebook.com\/FEDCOCEgypt\/posts\/3856820497742689\">a FEDCOC statement<\/a> says. Croatian Foreign Minister Gordan Grli\u0107-Radman and Foreign Minister Sameh Shoukry are expected to attend.<\/p><p><strong>The British Egyptian Business Association (BEBA) will host a webinar on combating <\/strong><strong>harassment and violence in the workplace<\/strong> tomorrow at midday. Register for the event <a href=\"https:\/\/us02web.zoom.us\/webinar\/register\/WN_7tVqmW0cSTi86X6lJjcZyw\">here<\/a>.<\/p><p><strong>Russian Foreign Minister Sergey Lavrov is due in town on 12 April<\/strong> to discuss the latest developments on the Grand Ethiopian Renaissance Dam, signaling Russia could be looking to play an active role in mediating the impasse, according to TenTV\u2019s Al Mashhad (<a href=\"https:\/\/www.youtube.com\/watch?v=6Ue03xf1iRk\">watch, runtime: 1:28<\/a>). Lavrov\u2019s planned trip comes after expectations that Russian President Vladimir Putin would visit Egypt sometime in March did not materialize.<\/p><p><strong>\u201cSummer hours\u201d will <\/strong><strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1893821920796164\">come into effect<\/a><\/strong><strong> for stores and restaurants as of 17 April.<\/strong> This means retail shops can close at 11pm (instead of 10pm during the winter), while cafes and restaurants can stay open until 1am (instead of midnight currently). We have more details on the winter vs. summer hours <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3019f4c-6803-4c38-a95f-5dfdeaf7a35b\">here<\/a>.<\/p><p><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p 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>We present to you part two of how local startups are fixing the fragmented supply chain. This week, we are looking at social commerce platform <a href=\"https:\/\/brimore.com\/\">Brimore<\/a>, which is turning average households in remote areas into points-of-sale by cutting down the stops of the traditional supply chain. You can catch up on part one, where we dove into B2B bulk ordering platform <a href=\"https:\/\/www.maxab.io\/\">MaxAB<\/a>, here.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/ever-given\/\">Ever Given<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/policy\/\">policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-authority\/\">Suez Canal Authority<\/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\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561250\" 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=\"561250\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/561250\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561250\" class=\"content-area-description single-story post-561250 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/somabay.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/Somabay-Ready-set-adrenaline-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561251\" 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=\"561251\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/sfe-makes-its-first-investment-in-education-with-efg-fund\/\">\r\n                            SFE makes its first investment in education with EFG fund                        <\/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\/03\/31\/sfe-makes-its-first-investment-in-education-with-efg-fund\/\" 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\/03\/31\/sfe-makes-its-first-investment-in-education-with-efg-fund\/')\">\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\/03\/31\/sfe-makes-its-first-investment-in-education-with-efg-fund\/\">\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=SFE makes its first investment in education with EFG fund&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/sfe-makes-its-first-investment-in-education-with-efg-fund\/\">\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\/03\/31\/sfe-makes-its-first-investment-in-education-with-efg-fund\/&title=SFE makes its first investment in education with EFG fund\">\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=SFE+makes+its+first+investment+in+education+with+EFG+fund+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F31%2Fsfe-makes-its-first-investment-in-education-with-efg-fund%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\/03\/31\/sfe-makes-its-first-investment-in-education-with-efg-fund\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/366.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"561252\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/sfe-makes-its-first-investment-in-education-with-efg-fund\/366-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/366.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"366.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/366.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/366.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561251\" class=\"content-area-description single-story post-561251 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-education tag-efg-hermes tag-efg-hermes-education-fund tag-enterpriseam tag-gems tag-investment-watch tag-karim-moussa tag-sovereign-fund-of-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>EFG Education Fund hits third close with SFE investment:<\/strong> The Sovereign Fund of Egypt (SFE) has committed EGP 250 mn (c. USD 15.9 mn) to the EFG Hermes Education Fund, according to a<a href=\"https:\/\/ent.news\/2021\/3\/EFG-NR-GEMS-SWF-ENG.pdf\">joint<\/a><a href=\"https:\/\/ent.news\/2021\/3\/EFG-NR-GEMS-SWF-ENG.pdf\">statement<\/a><a href=\"https:\/\/ent.news\/2021\/3\/EFG-NR-GEMS-SWF-ENG.pdf\">(pdf)<\/a> published yesterday. The investment brings the fund to its third close, a source with direct knowledge of the matter told Enterprise. This will be the only investment in the fund\u2019s third and final close, Karim Moussa, the head of asset management and private equity at EFG Hermes, told us.<\/p>\n<p><strong>EFG\u2019s education fund now has some USD 150 mn in dry powder to invest<\/strong>, \u201cwhich perfectly positions us to continue expanding our scope in the Egyptian market,\u201d Moussa said. The third close makes the fund \u201cone of the largest specialized investment funds in the MENA region,\u201d he added. The education fund had an <a href=\"https:\/\/enterprise.press\/stories\/2018\/12\/24\/efg-hermes-egypt-education-fund-is-oversubscribed-at-first-close\/\">initial close in 2018<\/a> that saw it land commitments worth a combined USD 119 mn from local and foreign investors. It reached a second close in June 2019 with commitments from regional institutional investors, Moussa told us.<\/p>\n<p><strong>About the education fund:<\/strong> Established in 2018, the fund was set up as a 50\/50 JV between <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/21\/efg-gems-partner-up-on-new-k-12-education-platform-in-egypt\/\">EFG and GEMS Education<\/a> to invest in Egypt\u2019s K12 education sector. It is managed by the investment bank\u2019s private equity unit. EFG said at the time that it expected to invest <a href=\"https:\/\/www.thenationalnews.com\/business\/economy\/efg-and-gems-to-invest-300m-in-education-sector-in-egypt-1.732184\">USD 300 mn<\/a> in Egyptian schools over the next five years.<\/p>\n<p><strong>The <\/strong><strong>SFE also signed an MoU with GEMS Egypt<\/strong> to build and operate two national schools in west Cairo, the statement said. The schools will be built on SFE-owned land and will each have capacity for 2.5k students. The MoU \u201cwill help [GEMS] expand our geographical presence in the local market while maximizing value for landowners like SFE through long-term impactful investments,\u201d GEMS Egypt CEO Ahmed Wahby said in the statement.<\/p>\n<p><strong>This is the first education investment for the SFE \u2014 but not the first expression of <\/strong><strong>interest in the sector:<\/strong> The fund <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/56124a0f-cc43-47f3-9703-39110e33e0d9\">said last year<\/a> that it was in talks with several foreign companies to get them to invest in education, after signing an agreement with private equity giant Actis to drive investment in priority sectors in Egypt\u2019s economy, including education.<\/p>\n<p><strong>And it won\u2019t be the commitment the SFE makes to an industry-specific fund:<\/strong> The SFE will follow up the partnership by making \u201csimilar alliances with entities that possess technical know-how and the necessary capital in the near future,\u201d said CEO Ayman Soliman.<\/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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes-education-fund\/\">EFG Hermes Education Fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gems\/\">GEMS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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\/karim-moussa\/\">Karim Moussa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561253\" 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=\"561253\">\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\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/sfe-to-set-up-an-entity-for-its-real-estate-assets-with-an-eye-to-ipo\/\">\r\n                            SFE to set up an entity for its real estate assets, with an eye to IPO                        <\/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\/03\/31\/sfe-to-set-up-an-entity-for-its-real-estate-assets-with-an-eye-to-ipo\/\" 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\/03\/31\/sfe-to-set-up-an-entity-for-its-real-estate-assets-with-an-eye-to-ipo\/')\">\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\/03\/31\/sfe-to-set-up-an-entity-for-its-real-estate-assets-with-an-eye-to-ipo\/\">\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=SFE to set up an entity for its real estate assets, with an eye to IPO&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/sfe-to-set-up-an-entity-for-its-real-estate-assets-with-an-eye-to-ipo\/\">\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\/03\/31\/sfe-to-set-up-an-entity-for-its-real-estate-assets-with-an-eye-to-ipo\/&title=SFE to set up an entity for its real estate assets, with an eye to IPO\">\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=SFE+to+set+up+an+entity+for+its+real+estate+assets%2C+with+an+eye+to+IPO+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F31%2Fsfe-to-set-up-an-entity-for-its-real-estate-assets-with-an-eye-to-ipo%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\/03\/31\/sfe-to-set-up-an-entity-for-its-real-estate-assets-with-an-eye-to-ipo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/367.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"561254\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/sfe-to-set-up-an-entity-for-its-real-estate-assets-with-an-eye-to-ipo\/367-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/367.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"367.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/367.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/367.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561253\" class=\"content-area-description single-story post-561253 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch tag-egx tag-enterpriseam tag-ipo-watch tag-mogamma-el-tahrir tag-privatization-watch tag-real-estate tag-sovereign-fund-of-egypt tag-state-privatization-program wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>The Sovereign Fund of Egypt (SFE) could roll its real estate assets into a new <\/strong><strong>entity that it will eventually IPO on the EGX<\/strong>, SFE CEO Ayman Soliman tells Al Mal. The fund will set up a company or a real estate investment trust (REIT) to consolidate the assets into one entity once it finalizes their development, according to the report in the newspaper\u2019s print edition. A REIT is a mutual fund that owns, finances or manages income-generating real estate assets. These \u201ccherry-picked\u201d assets include state-owned Mogamma Tahrir and the land where the headquarters of the dissolved National Democratic Party used to stand. The plan is not set in stone, but would be part of the SFE\u2019s long-term strategy, Soliman said.<\/p>\n<p><strong>The latest on the Mogamma: <\/strong>Feasibility studies on the revamp are still underway, Soliman said. The conditions booklet for the planned overhaul of the Mogamma El Tahrir will be made available next month, Planning Minister Hala El Said previously <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/67202e51-b4cf-476e-8612-f071182af3bc\">said<\/a>. The fund will give prospective private-sector partners a four-month window to purchase the booklet and present their bids on the project, which will likely see the iconic building transformed into a multi-purpose building, with a portion turned into an apartment hotel and others used for commercial purposes, according to the minister.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mogamma-el-tahrir\/\">Mogamma El Tahrir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/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=\"561255\" 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=\"561255\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/burnin-up\/\">\r\n                            Burnin\u2019 up                        <\/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\/03\/31\/burnin-up\/\" 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\/03\/31\/burnin-up\/')\">\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\/03\/31\/burnin-up\/\">\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=Burnin\u2019 up&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/burnin-up\/\">\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\/03\/31\/burnin-up\/&title=Burnin\u2019 up\">\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=Burnin%E2%80%99+up+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F31%2Fburnin-up%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\/03\/31\/burnin-up\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/368.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"561256\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/burnin-up\/368-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/368.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"368.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/368.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/368.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561255\" class=\"content-area-description single-story post-561255 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-capital-markets tag-egx tag-enterpriseam tag-integrated-diagnostics-holding tag-ipo-watch tag-macro-group tag-mohamed-farid tag-taaleem wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>\u2026And while we\u2019re on the subject of IPOs: We could see five or six new listings <\/strong><strong>hitting the EGX in 2021<\/strong>, which may pave the way for the return of institutional investors into the market, EGX Chairman Mohamed Farid tells <a href=\"https:\/\/bit.ly\/3wfOBk7\">Al Arabiya<\/a>. Farid didn\u2019t provide any further details on the timelines of the potential listings, or whether the anticipated IPOs include any companies from the stalled state privatization program.<\/p>\n<p><strong>It already looks like the IPO pipeline is heating up this year: Macro Group Pharma<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2d689e02-cc68-4383-b4be-59a75b1e7580\">has kicked off<\/a> the bookbuilding process for its IPO, while higher education specialist <strong>Taaleem<\/strong> has kicked off subscription for an offering that was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e5a1a2a-08df-4a8e-a3ce-f857a11f002a\">2.34x oversubscribed<\/a>, valuing it at EGP 4.2 bn. And while it\u2019s not <em>technically<\/em> an IPO, London-listed consumer healthcare giant <strong>IDH<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f85ca305-e865-4879-8646-967b53e73296\">kicked off a roadshow<\/a> yesterday for a technical listing of at least 5% of its shares on the EGX. NBFS player <strong>Ebtikar<\/strong> is also very likely to go to market and <strong>e-Finance<\/strong>\u2019s IPO \u2014 which is part of the state privatization program \u2014 could happen this year, according to analysts surveyed in our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5043975b-3664-4d29-a25b-cd9f6c9db0be\">first Enterprise IPO poll<\/a>.<\/p>\n<p><strong>Background:<\/strong> A handful of companies that were planning to IPO in 2020 either postponed or outright killed their plans. <strong>Banque du Caire<\/strong>\u2019s hotly anticipated IPO was postponed to 2021 as the state privatization program <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/82f7037f-4711-42cd-a7d1-7f4f6ab1f06e\">was pushed<\/a> amid the covid-induced market selloff last year. Meanwhile, <strong>NileAir<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f767246d-c9cd-45bf-bb2b-fc0ee5c26dcd\">pulled the plug<\/a> on its offering after the tourism and aviation industries cratered, and Qalaa Holdings <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/70d5ed14-509a-4f44-a084-c72a5e41346a\">reportedly postponed the 1H2021<\/a> sale of a 30-40% stake in energy distribution player <strong>Taqa Arabia<\/strong> and will not be taking <strong>Arab Refining Company <\/strong>to market anytime soon. Mid-cap real estate player Emerald was the only new listing on the EGX in 2020 after an already slow 2019, which saw only two IPOs \u2014 Rameda Pharma and Fawry \u2014 going to market.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/integrated-diagnostics-holding\/\">Integrated Diagnostics Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/macro-group\/\">Macro Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-farid\/\">Mohamed Farid<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/taaleem\/\">Taaleem<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561257\" 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=\"561257\">\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\">Suez Canal<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/the-neverending-story\/\">\r\n                            The Neverending Story                        <\/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\/03\/31\/the-neverending-story\/\" 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\/03\/31\/the-neverending-story\/')\">\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\/03\/31\/the-neverending-story\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The Neverending Story&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/the-neverending-story\/\">\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\/03\/31\/the-neverending-story\/&title=The Neverending Story\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+Neverending+Story+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F31%2Fthe-neverending-story%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\/03\/31\/the-neverending-story\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561257\" class=\"content-area-description single-story post-561257 post type-post status-publish format-standard hentry category-suez-canal tag-enterpriseam tag-ever-given tag-israel tag-maritime tag-suez-canal 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>There will be no Ever Given Mk II, El Sisi promises:<\/strong> President Abdel Fattah El Sisi pledged to purchase new equipment and boats for the Suez Canal to ensure that ships will never again block the vital shipping artery. Cabinet officials will be instructed to ascertain the Suez Canal Authority\u2019s needs and sign new contracts \u201cno matter the circumstances or cost,\u201d he said during a visit to the authority\u2019s headquarters in Ismailia, a day after the mega container ship was finally freed from the banks of the canal (<a href=\"https:\/\/www.youtube.com\/watch?v=N3VkdiAw56g\">watch, runtime: 1:38<\/a>).<\/p>\n<p><strong>The latest from the waterway:<\/strong> Some 255 of the 422 ships left stranded in the Red Sea and the Mediterranean should have transited the Canal as of this morning, by Masaa DMC\u2019s Ramy Radwan\u2019s math (<a href=\"https:\/\/www.youtube.com\/watch?v=5zJ4bPjB8gQ\">watch, runtime: 2:28<\/a>). The Suez Canal Authority (SCA) has said it expects the backlog of vessels to be cleared within three or four days, as it brings the number of ships passing through on a daily basis to 95, up from the usual 50-60, but some service providers think it could take longer. The SCA is looking to get the canal\u2019s regular daily capacity to 95 vessels by 2030, authority boss Osama Rabie told Yahduth fi Misr\u2019s Sherif Amer (<a href=\"https:\/\/www.youtube.com\/watch?v=WJORo2vunds\">watch, runtime: 4:12<\/a>)<\/p>\n<p><strong>Industry experts think the ripple effects will continue to be felt until the summer<\/strong>, including vessels and containers being \u201cout of sync\u201d as the flow of shipping traffic through the canal got thrown out of whack by the Ever Given, the <a href=\"https:\/\/www.wsj.com\/articles\/suez-canal-opens-but-shipping-will-be-snarled-for-months-11617142994?mod=hp_lead_pos3\">Wall Street Journal<\/a> reports.<\/p>\n<p><strong>Do we need to worry about a cyber attack next?<\/strong> The canal\u2019s IT and communications systems could be vulnerable to hacks and cyber attacks, former senior director for Middle East and North African affairs at the US National Security Council Robert Greenway writes in a <a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2021-03-30\/a-cyber-attack-could-be-the-next-big-suez-canal-threat?sref=mmeFTDW1\">Bloomberg Opinion<\/a> piece. Greenway points to recent cyber attacks on industrial control systems, saying that the canal is vulnerable to similar hostility because of its \u201cantiquated\u201d IT architecture.<\/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\/ever-given\/\">Ever Given<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maritime\/\">maritime<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"561258\" 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=\"561258\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/ahlan-ramadan-restrictions-covax-jab-shipment-today\/\">\r\n                            Ahlan, Ramadan (restrictions) + Covax jab shipment today?                        <\/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\/03\/31\/ahlan-ramadan-restrictions-covax-jab-shipment-today\/\" 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\/03\/31\/ahlan-ramadan-restrictions-covax-jab-shipment-today\/')\">\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\/03\/31\/ahlan-ramadan-restrictions-covax-jab-shipment-today\/\">\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=Ahlan, Ramadan (restrictions) + Covax jab shipment today?&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/ahlan-ramadan-restrictions-covax-jab-shipment-today\/\">\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\/03\/31\/ahlan-ramadan-restrictions-covax-jab-shipment-today\/&title=Ahlan, Ramadan (restrictions) + Covax jab shipment today?\">\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=Ahlan%2C+Ramadan+%28restrictions%29+%2B+Covax+jab+shipment+today%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F31%2Fahlan-ramadan-restrictions-covax-jab-shipment-today%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\/03\/31\/ahlan-ramadan-restrictions-covax-jab-shipment-today\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561258\" class=\"content-area-description single-story post-561258 post type-post status-publish format-standard hentry category-covid-watch tag-asia tag-astrazeneca tag-canada tag-china tag-covax tag-covid-19 tag-enterpriseam tag-gavi tag-hala-zayed tag-india tag-russia tag-vaccines tag-world-health-organization 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>Here\u2019s how our second pandemic Ramadan is going down:<\/strong> Prayers \u2014 including the evening Taraweeh prayers \u2014 will be permitted in all mosques across the country during the Holy Month, as long as preventive measures such as wearing face masks are followed, <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1893821920796164\">cabinet\u2019s covid-19 crisis management committee<\/a> decided yesterday. Taraweeh prayers, however, must be limited to half an hour, the statement says.<\/p>\n<p><strong>No charity tables: <\/strong>The committee decided to ban charity iftar tables (Mawa\u2019ed Rahman) and large gatherings in indoor areas, including funerals and celebrations.<\/p>\n<p><strong>Reminder: Last Ramadan saw a steady climb in daily infections and infections<\/strong>, leading into the summer months.<\/p>\n<p><strong>Penalties and fines will be handed out, and mosques could be closed if the required preventive measures aren\u2019t in place<\/strong>, cabinet spokesperson Nader Saad told Yahduth fi Misr\u2019s Sherif Amer (<a href=\"https:\/\/www.youtube.com\/watch?v=8N5hUd3Q1ck\">watch, runtime: 3:56<\/a>).<\/p>\n<p><strong>The first 854k doses of an 8.6 mn-shot order of AstraZeneca\u2019s jab should be <\/strong><strong>landing in Egypt today<\/strong>, courtesy of the Gavi \/ Covax initiative, Health Minister Hala Zayed said in <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1893821920796164\">a statement<\/a> yesterday. The first shipment was previously expected to include a total of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c3611499-4c07-4b9f-b40b-1fdcadead53e\">5 mn doses<\/a>. It remains unclear when we\u2019ll be receiving the remainder of that batch, especially after Covax recently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/acc7d04e-ff3f-40fa-bc0a-5eec3216fdbf\">signaled delays<\/a> in vaccine shipments during March and April as India <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/89d08eb2-bd21-4da0-a4c0-b0ccacc82c26\">temporarily suspended<\/a> all exports of the jab as its own case tally soars.<\/p>\n<p><strong>As many as 4.5 mn doses will be available in \u201cthe coming period,\u201d<\/strong> presidential health advisor Mohamed Awad Tag Eldin told Ala Masouleety\u2019s Ahmed Moussa (<a href=\"https:\/\/www.youtube.com\/watch?v=obdEeFda9nY\">watch, runtime: 10:03<\/a>). Tag Eldin didn\u2019t disclose any further details.<\/p>\n<p><strong>What we already know:<\/strong> China is set to send over another undisclosed number of Sinopharm jab doses as its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5f116dcf-38ef-4de4-a802-5c5ac5422155\">third gift shipment<\/a> in the next few days. This comes as a separate batch of the Sinopharm vaccine \u2014 which Egypt purchased from the vaccine maker \u2014 is also set to arrive within days. A total of 3 mn doses of the Sinopharm jab should have landed in Egypt by the end of May.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/346976116853007?_rdc=1&_rdr\">reported<\/a><\/strong><strong> 693 new covid-19 infections yesterday<\/strong>, up from 689 the day before. The ministry also reported 42 new deaths, bringing the country\u2019s total death toll to 11,956. Egypt has now disclosed a total of 201,342 confirmed cases of covid-19.<\/p>\n<p><strong>The WHO looks like it\u2019s going to revisit its investigation into the origin of covid-19<\/strong> after more than a dozen countries criticised its latest <a href=\"https:\/\/www.who.int\/health-topics\/coronavirus\/origins-of-the-virus\">report<\/a> on the virus origin, which dismisses the lab-leak hypothesis. The World Health Organization\u2019s chief Tedros Adhanom Ghebreyesus <a href=\"https:\/\/www.who.int\/news\/item\/30-03-2021-who-calls-for-further-studies-data-on-origin-of-sars-cov-2-virus-reiterates-that-all-hypotheses-remain-open\">said<\/a> \u201cthis report is a very important beginning\u201d and \u201cis not the end,\u201d in response to countries\u2019 concerns that the report\u2019s results were delayed and lacked access to complete data, the <a href=\"https:\/\/www.wsj.com\/articles\/countries-call-for-pact-to-improve-response-to-next-pandemic-11617100287?mod=hp_lead_pos6\">Wall Street Journal<\/a> reported.<\/p>\n<p><strong>Asian countries are looking to Russia and China as an alternate source of <\/strong><strong>covid-19 vaccines<\/strong> after India imposed temporary vaccine export restrictions to protect local supplies that will likely affect the COVAX program\u2019s ability to meet its delivery targets, <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-covax-impact\/asian-countries-scramble-for-vaccine-supplies-after-india-export-curbs-idUSKBN2BM0JS\">Reuters<\/a>reports.<\/p>\n<p><strong>German authorities in Berlin and Munich have banned the use of the AstraZeneca vaccine for under-60s<\/strong>, after 31 people who had received the vaccine developed rare brain blood clots, which in nine cases led to death, the <a href=\"https:\/\/apnews.com\/article\/germany-cities-suspend-astrazeneca-vaccine-under-60-c6da4f4ed846ebebbe24505bfbf9bfce\">Associated Press<\/a> reports. The news comes as <strong>many Canadian provinces said they would follow federal guidance <\/strong>that they should suspend use of AstraZeneca\u2019s jab in folks under the age of 55 even though exactly zero casts of blood clots have appeared there, <a href=\"https:\/\/www.cbc.ca\/news\/politics\/astrazeneca-under-55-1.5968128\">CBC reports<\/a>.<\/p>\n<p><strong>BioNTech is now aiming to produce 2.5 bn vaccine doses in 2021<\/strong>, up by around a quarter from the previous target as the company tries to scale up production to meet the huge global demand, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-30\/biontech-raises-2021-covid-vaccine-target-to-2-5-billion-doses?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> reports. The company could still up production further, said CEO Ugur Sahin, who predicted a version of the shot that can be stored in regular refrigerators instead of sub-zero temperatures would be available within months.<\/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\/asia\/\">Asia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/astrazeneca\/\">AstraZeneca<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/canada\/\">Canada<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covax\/\">Covax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gavi\/\">GAVI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hala-zayed\/\">Hala Zayed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/india\/\">India<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-health-organization\/\">World Health Organization<\/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=\"561259\" 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=\"561259\">\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\">Politics<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/the-big-red-line\/\">\r\n                            The big red line                        <\/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\/03\/31\/the-big-red-line\/\" 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\/03\/31\/the-big-red-line\/')\">\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\/03\/31\/the-big-red-line\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The big red line&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/the-big-red-line\/\">\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\/03\/31\/the-big-red-line\/&title=The big red line\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+big+red+line+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F31%2Fthe-big-red-line%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\/03\/31\/the-big-red-line\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561259\" class=\"content-area-description single-story post-561259 post type-post status-publish format-standard hentry category-_newspack_politics tag-abdel-fattah-el-sisi tag-diplomacy tag-enterpriseam tag-ethiopia tag-gerd tag-politics tag-water wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>El Sisi issues a sharp warning to Ethiopia on GERD:<\/strong> Threatening access to the Nile\u2019s water is a \u201cred line\u201d for Egypt, President Abdel Fattah El Sisi warned Ethiopia yesterday, as it plans to go ahead with the second filling of the Grand Ethiopian Renaissance Dam (GERD) in a few months\u2019 time. Speaking during a presser to mark the freeing of the Ever Given container ship, El Sisi said that Ethiopia will not be allowed to take \u201ca single drop\u201d of water from Egypt, and warned that further attempts to disrupt the Nile\u2019s flow will cause \u201cinconceivable instability\u201d in the region (<a href=\"https:\/\/www.youtube.com\/watch?v=NdxPpmqubG4&ab_channel=SadaElbalad-%D8%B5%D8%AF%D9%89%D8%A7%D9%84%D8%A8%D9%84%D8%AF\">watch, runtime 2:29<\/a>).<\/p>\n<p><strong>The region\u2019s stability is \u201cdependent on Egypt\u2019s response to Ethiopia\u2019s intransigence\u201d on the issue<\/strong>, the president stressed, saying he\u2019s not making threats but is rather reiterating the importance of reaching a binding agreement.<\/p>\n<p><strong>Addis Ababa <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4b85a75-df24-4ee9-b55f-3bad56b6c8db\">reiterated in recent weeks<\/a><\/strong><strong> that it will go ahead with the second phase of filling the GERD<\/strong> during the rainy season in July and August without an agreement with Egypt and Sudan. It also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b2819f6f-d128-4c07-b808-02152a89f277\">continued to oppose<\/a> Cairo and Khartoum\u2019s proposition to bring in the EU, US, UN, and African Union to help mediate an agreement.<\/p>\n<p><strong>We\u2019re not out of ammo, pundits say:<\/strong> Egypt hasn\u2019t been \u201cbacked into a corner\u201d and still has other options to resolve the impasse, political commentator Mostafa El Fekky told Yahduth fi Misr\u2019s Sherif Amer. El Fekky declined to say what these options could entail, but pointed out that Egypt has shown patience in the entire negotiating process and doesn\u2019t particularly want to resort to a military confrontation (<a href=\"https:\/\/www.youtube.com\/watch?v=B_FxLW1p56c\">watch, runtime: 5:19<\/a>). Meanwhile, we have the backing of much of the international community, in large part thanks to El Sisi and Foreign Minister Sameh Shoukry\u2019s ongoing campaigns to rally international support by meeting with international leaders over the past several months, former diplomat Hany Khalaf tells Al Mashhad\u2019s Amr Abdel Hamid (<a href=\"https:\/\/www.youtube.com\/watch?v=v-pSFTMXNis\">watch, runtime: 3:19<\/a>).<\/p>\n<p><strong>Foreign press coverage:<\/strong> El Sisi\u2019s remarks were one of his \u201cstrongest\u201d in response to the issue, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-30\/egypt-s-water-off-limits-sisi-says-in-message-to-ethiopia?sref=mmeFTDW1\">Bloomberg<\/a> and the <a href=\"https:\/\/abcnews.go.com\/International\/wireStory\/stark-warning-egypt-leader-nile-water-untouchable-76775524\">Associated Press<\/a> said. <a href=\"https:\/\/www.reuters.com\/article\/ethiopia-dam-egypt\/update-1-egypts-sisi-says-response-will-be-felt-if-water-supply-affected-by-dam-idUSL1N2LS0ZG\">Reuters<\/a> also took note of the story.<\/p>\n<p><strong>The talking heads said much of the same<\/strong>, with Kelma Akhira\u2019s Lamees El Hadidi saying El Sisi\u2019s statement was \u201cthe most important\u201d one he has made on the matter to date (<a href=\"https:\/\/www.youtube.com\/watch?v=Hzo9vyn5_UQ\">watch, runtime: 7:03<\/a>), while Ala Mas\u2019ouleety\u2019s Ahmed Moussa lauded the president for signaling to Ethiopia that Egypt doesn\u2019t respond well to threats (<a href=\"https:\/\/www.youtube.com\/watch?v=eIELEEo7PFI\">watch, runtime: 8:50<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561260\" 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=\"561260\">\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\">CURRENT AFFAIRS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/fairmont-defendants-out-on-bail\/\">\r\n                            Fairmont defendants out on bail                        <\/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\/03\/31\/fairmont-defendants-out-on-bail\/\" 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\/03\/31\/fairmont-defendants-out-on-bail\/')\">\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\/03\/31\/fairmont-defendants-out-on-bail\/\">\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=Fairmont defendants out on bail&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/fairmont-defendants-out-on-bail\/\">\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\/03\/31\/fairmont-defendants-out-on-bail\/&title=Fairmont defendants out on bail\">\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=Fairmont+defendants+out+on+bail+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F31%2Ffairmont-defendants-out-on-bail%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\/03\/31\/fairmont-defendants-out-on-bail\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561260\" class=\"content-area-description single-story post-561260 post type-post status-publish format-standard hentry category-current-affairs tag-civil-society tag-current-affairs tag-enterpriseam tag-judiciary wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Four of the seven defendants in the Fairmont [redacted] assault case were each <\/strong><strong>released on EGP 100k bail<\/strong>, pending further investigation as per a court decision, according to <a href=\"https:\/\/www.masrawy.com\/news\/news_cases\/details\/2021\/3\/30\/1996561\/%D8%A8%D9%8A%D9%86%D9%87%D9%85-%D9%86%D8%AC%D9%84-%D8%AD%D9%84%D9%85%D9%8A-%D8%B7%D9%88%D9%84%D8%A7%D9%86-%D8%A7%D9%84%D9%86%D9%8A%D8%A7%D8%A8%D8%A9-%D8%AA%D8%B3%D8%AA%D8%A3%D9%86%D9%81-%D8%B9%D9%84%D9%89-%D8%A5%D8%AE%D9%84%D8%A7%D8%A1-%D8%B3%D8%A8%D9%8A%D9%84-4-%D9%85%D8%AA%D9%87%D9%85%D9%8A%D9%86-%D8%A8%D9%82%D8%B6%D9%8A%D8%A9-%D9%81%D9%8A%D8%B1%D9%85%D9%88%D9%86%D8%AA-\">Masrawy<\/a>. The Prosecutor General has appealed the decision to release the defendants, according to <a href=\"https:\/\/www.facebook.com\/ppo.gov.eg\/posts\/3855569487884258\">a statement<\/a>. The assault, which took place in a Nile Fairmont suite in February 2014, first came to light last summer when the victim of the attack posted anonymous testimony online and filed a formal charge accusing the men of the assault. Five of the seven young men charged with perpetrating the assault were <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/399449\/Egypt\/Politics-\/Egypt%E2%80%99s-public-prosecution-releases-defendant-in-F.aspx\">arrested late last year<\/a> but two remain at large.<\/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\/civil-society\/\">civil society<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/current-affairs\/\">CURRENT AFFAIRS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/judiciary\/\">judiciary<\/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=\"561261\" 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=\"561261\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/fawry-net-income-surges-81-in-2020\/\">\r\n                            Fawry net income surges 81% in 2020                        <\/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\/03\/31\/fawry-net-income-surges-81-in-2020\/\" 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\/03\/31\/fawry-net-income-surges-81-in-2020\/')\">\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\/03\/31\/fawry-net-income-surges-81-in-2020\/\">\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=Fawry net income surges 81% in 2020&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/fawry-net-income-surges-81-in-2020\/\">\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\/03\/31\/fawry-net-income-surges-81-in-2020\/&title=Fawry net income surges 81% in 2020\">\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=Fawry+net+income+surges+81%25+in+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F31%2Ffawry-net-income-surges-81-in-2020%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\/03\/31\/fawry-net-income-surges-81-in-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561261\" class=\"content-area-description single-story post-561261 post type-post status-publish format-standard hentry category-earnings-watch tag-ashraf-sabry tag-earnings-watch tag-enterpriseam tag-fawry tag-fintech tag-microfinance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Fawry\u2019s net income increased 81% y-o-y in 2020 to reach EGP 186 mn<\/strong>, up from EGP 103 mn the year before, according to a company <a href=\"https:\/\/ent.news\/2021\/3\/Fawry-english-2020-earnings-release.pdf\">earnings release (pdf)<\/a>. Revenues were up almost 40% to EGP 1.2 bn, thanks to rapid growth in the company\u2019s microfinance and banking services. The strong top-line growth demonstrates Fawry\u2019s \u201cgrowing centrality\u201d to Egyptian commerce, said Fawry CEO Ashraf Sabry.<\/p>\n<p><strong>Looking ahead:<\/strong> \u201cManagement is confident that the company is well-positioned to meet its strategic objective of creating Egypt\u2019s first integrated digital ecosystem,\u201d Sabry said. The company plans to quadruple the volume of monthly transactions handled by its acceptance business in the coming year, as well as double the value of its microfinance business \u201cto further grow these segments\u2019 top-line contributions,\u201d he said. The company will also expand the services offered through its myFawry app to include financial services and in-store discounts, with an eye to doubling monthly transaction volumes by the end of 2021.<\/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\/ashraf-sabry\/\">Ashraf Sabry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fawry\/\">Fawry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/microfinance\/\">microfinance<\/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=\"561262\" 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=\"561262\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/561262\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561262\" class=\"content-area-description single-story post-561262 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.sodic.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/Sodic-The-Estate1-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561263\" 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=\"561263\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/last-nights-talk-shows-on-31-march-2021\/\">\r\n                            Last Night\u2019s Talk Shows on 31 March 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\/03\/31\/last-nights-talk-shows-on-31-march-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\/03\/31\/last-nights-talk-shows-on-31-march-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\/03\/31\/last-nights-talk-shows-on-31-march-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=Last Night\u2019s Talk Shows on 31 March 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/last-nights-talk-shows-on-31-march-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\/03\/31\/last-nights-talk-shows-on-31-march-2021\/&title=Last Night\u2019s Talk Shows on 31 March 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=Last+Night%E2%80%99s+Talk+Shows+on+31+March+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F31%2Flast-nights-talk-shows-on-31-march-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\/03\/31\/last-nights-talk-shows-on-31-march-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561263\" class=\"content-area-description single-story post-561263 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-enterpriseam tag-house-of-representatives tag-last-nights-talk-shows tag-osama-heikal 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>It was not a good day for Information Minister Osama Heikal, who is still under fire<\/strong>, especially after he didn\u2019t attend yesterday\u2019s meeting at the House Culture and Media Committee that was set up to discuss the committee\u2019s report on his policy statement. The minister reportedly said he had a \u201cprior engagement,\u201d which had committee member Nader Mostafa and Ala Mas\u2019ouleety\u2019s Ahmed Moussa equally incensed. The committee was unanimous in its decision to reject Heikal\u2019s policy statement, agreeing collectively that there was \u201cnot a single point\u201d that was satisfactory, Mostafa said. Heikal could now be summoned for a formal inquiry, according to the MP (<a href=\"https:\/\/www.youtube.com\/watch?v=PxE6PYUG4a8\">watch, runtime: 24:02<\/a>). Moussa went on his own rant, saying that if Heikal were confident in his own performance, he wouldn\u2019t have evaded the House meeting (<a href=\"https:\/\/www.youtube.com\/watch?v=HUaBYPfQI-M\">watch, runtime: 10:51<\/a>).<\/p>\n<p><strong>Egypt\u2019s planned infrastructure development projects also earned some airtime last night<\/strong>, including the recently announced <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6426315c-08ba-4331-a1cf-dba35e11012a\">\u201cNew Delta\u201d agricultural project<\/a>, which will see some 1 mn feddans of desert land near our northwestern coastline reclaimed. Kelma Akhira\u2019s Lamees El Hadidi (<a href=\"https:\/\/www.youtube.com\/watch?v=-nJauGVPOcg\">watch, runtime: 3:37<\/a>) and Al Hayah Al Youm\u2019s Lobna Assal (<a href=\"https:\/\/www.youtube.com\/watch?v=KStHqozC2v8\">watch, runtime: 4:34<\/a>) took note. Assal also noted President Abdel Fattah El Sisi\u2019s announcement regarding several new and developed ports that will be inaugurated within the next few months, including the Ain Sokhna, Damietta, and Abu Qir ports (<a href=\"https:\/\/www.youtube.com\/watch?v=Ye1YVwPWfPM\">watch, runtime: 3:10<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/osama-heikal\/\">Osama Heikal<\/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=\"561264\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-ue21hb8\" data-v=\"4\" data-block-id=\"ue21hb8\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ue21hb8-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ue21hb8-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-dbqzcep\" data-v=\"4\" data-block-id=\"dbqzcep\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-dbqzcep-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-dbqzcep-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\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-femd2bo\" data-v=\"4\" data-block-id=\"femd2bo\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-femd2bo-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-femd2bo-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-nrs8qhd\" data-v=\"4\" data-block-id=\"nrs8qhd\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-nrs8qhd-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-nrs8qhd-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561265\" 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=\"561265\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/egypt-in-the-news-on-31-march-2021\/\">\r\n                            Egypt in the News on 31 March 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\/03\/31\/egypt-in-the-news-on-31-march-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\/03\/31\/egypt-in-the-news-on-31-march-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\/03\/31\/egypt-in-the-news-on-31-march-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=Egypt in the News on 31 March 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/egypt-in-the-news-on-31-march-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\/03\/31\/egypt-in-the-news-on-31-march-2021\/&title=Egypt in the News on 31 March 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=Egypt+in+the+News+on+31+March+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F31%2Fegypt-in-the-news-on-31-march-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\/03\/31\/egypt-in-the-news-on-31-march-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561265\" class=\"content-area-description single-story post-561265 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam tag-ever-given tag-suez-canal tag-yemen wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It\u2019s another morning of Suez Canal coverage for Egypt<\/strong>, starting with the <a href=\"https:\/\/www.ft.com\/content\/d0f46892-0d5f-459c-b97d-add54dd8b9bc\">Financial Times\u2019<\/a> Heba Saleh and Harry Dempsey, who say that freeing the Ever Given was a matter of national pride for Egyptians. The canal has long been a symbol of independence from colonial rule, Saleh and Dempsey write. Elsewhere, the <a href=\"https:\/\/www.timesofisrael.com\/as-13-yemeni-jews-leave-pro-iran-region-for-cairo-nations-community-down-to-6\/\">Times of Israel<\/a> notes that a 13-member Yemeni Jewish family departed for Egypt in an agreement the family struck with Iranian-backed Houthi forces.<\/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\/ever-given\/\">Ever Given<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/yemen\/\">Yemen<\/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=\"561266\" 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=\"561266\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/also-on-our-radar-on-31-march-2021\/\">\r\n                            Also on our Radar on 31 March 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\/03\/31\/also-on-our-radar-on-31-march-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\/03\/31\/also-on-our-radar-on-31-march-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\/03\/31\/also-on-our-radar-on-31-march-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 31 March 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/also-on-our-radar-on-31-march-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\/03\/31\/also-on-our-radar-on-31-march-2021\/&title=Also on our Radar on 31 March 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+31+March+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F31%2Falso-on-our-radar-on-31-march-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\/03\/31\/also-on-our-radar-on-31-march-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561266\" class=\"content-area-description single-story post-561266 post type-post status-publish format-standard hentry category-also-on-our-radar tag-agricultural-bank-of-egypt tag-agriculture tag-also-on-our-radar tag-banking tag-central-bank-of-egypt tag-contact-financial tag-energy tag-enterpriseam tag-fawry tag-fintech tag-hospitality tag-hurghada tag-oil-and-gas tag-pharos-energy tag-tourism 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_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Egypt-Sudan electricity link gets a boost:<\/strong> Siemens Energy was <a href=\"https:\/\/ent.news\/2021\/3\/PR_Egypt-Sudan-Internconnection_En_Final.pdf\">awarded<\/a> a contract to build two grid stabilization stations in Sudan that will help feed cross-border electric power to Egypt as part of the Egypt-Sudan Electric Interconnection Project. The stations come as Egypt has <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=29032021&amp;id=79a19c99-2142-4be6-89ec-555bd1866316\">agreed<\/a> to invest EGP 450 mn in the supplying and installation of power compensators to boost the link\u2019s capacity to 300 MW.<\/p><p><strong>Osool <\/strong><strong>ESB Securities Brokerage is offering margin with the help of a EGP 350 mn loan <\/strong><strong>from Abu Dhabi Islamic Bank's ADILease<\/strong>, the <a href=\"https:\/\/bit.ly\/31vN6jr\">local press<\/a> reports. The MoU follows regulatory amendments by the Financial Regulatory Authority earlier this month which gave <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c677777d-8336-466e-a0d4-4b6343b426f7\">Egyptian factoring companies the green light to finance margin lending<\/a> by brokerage companies. The move comes as a bid to allow brokerages access to new funding sources and stimulate trading on the EGX.<\/p><p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p><ul>\n<li><strong>Contact<\/strong> and <strong>Fawry<\/strong> have signed a <a href=\"https:\/\/bit.ly\/39sxn94\">partnership agreement (pdf)<\/a> to allow clients of the consumer finance company to make installment payments through Fawry\u2019s mobile app.<\/li>\n<li><strong>Zack\u2019s Fried Chicken<\/strong> is planning to invest EGP 12 mn to set up four new branches of <strong>Burger Joint<\/strong>, which it acquired earlier this year, according to Zack\u2019s founder <a href=\"https:\/\/www.linkedin.com\/in\/hassanabouzekry\/?originalSubdomain=eg\">Hassan Abouzekry<\/a>.<\/li>\n<li><strong>The Central Bank of Egypt<\/strong> <a href=\"https:\/\/bit.ly\/3sEABOv\">will provide<\/a> an additional EGP 1 bn for onlending to the <strong>Agricultural Bank of Egypt<\/strong> for the provision of low interest loans to SMEs as part of a government project to support cattle farming.<\/li>\n<li><strong>Pharos Energy<\/strong>\u2019s revenue share of its Fayoum oil-producing concession <a href=\"https:\/\/www.pharos.energy\/investors\/press-releases\/concession-agreement-amendment-el-fayum-area\/\">could increase<\/a> from 30% to 40% after the Egyptian General Petroleum Corporation gave its preliminary approval to amendments to the terms of an earlier agreement.<\/li>\n<li>The <strong>Rixos Premium Magawish Hotel<\/strong> was <a href=\"https:\/\/bit.ly\/3dh3cmG\">inaugurated yesterday<\/a> in Hurghada as part of development plans for the Magawish tourist village.<\/li>\n<li>The owner of the <strong>10-storey building<\/strong> that collapsed last week in Cairo's Gesr El Suez neighborhood was <strong><a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2299774\">arrested<\/a><\/strong> on charges of illegally adding four floors, causing the building's collapse.<\/li>\n<\/ul>\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\/agricultural-bank-of-egypt\/\">Agricultural Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/contact-financial\/\">Contact Financial<\/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\/fawry\/\">Fawry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hurghada\/\">Hurghada<\/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\/pharos-energy\/\">Pharos Energy<\/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=\"561267\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561268\" 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=\"561268\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/what-the-markets-are-doing-on-31-march-2021\/\">\r\n                            What the markets are doing on 31 March 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\/03\/31\/what-the-markets-are-doing-on-31-march-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\/03\/31\/what-the-markets-are-doing-on-31-march-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\/03\/31\/what-the-markets-are-doing-on-31-march-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 the markets are doing on 31 March 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/what-the-markets-are-doing-on-31-march-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\/03\/31\/what-the-markets-are-doing-on-31-march-2021\/&title=What the markets are doing on 31 March 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+the+markets+are+doing+on+31+March+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F31%2Fwhat-the-markets-are-doing-on-31-march-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\/03\/31\/what-the-markets-are-doing-on-31-march-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561268\" class=\"content-area-description single-story post-561268 post type-post status-publish format-standard hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-planet-finance tag-smartphone-makers wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>Archegos\u2019 meltdown could cost global banks USD 6 bn: <\/strong>Shares at Morgan Stanley, Goldman Sachs, Nomura, and Credit Suisse all took a tumble yesterday following a global selloff of banking stocks after banks that had lent to Archegos were forced to sell off stocks after Archegos defaulted on a margin call last week, <a href=\"https:\/\/www.reuters.com\/article\/usa-markets-blocktrades\/global-banks-brace-for-losses-from-archegos-fallout-idINKBN2BM07B\">Reuters<\/a> reports. The firm, which is run as a family office by Bill Hwang and was subsequently subject to less regulatory scrutiny, was estimated to have held positions of over USD 50 bn, while having only USD 10 bn in assets, sources said, resulting in an incredibly overleveraged and risk exposed portfolio, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-29\/one-of-world-s-greatest-hidden-fortunes-is-wiped-out-in-days?sref=mmeFTDW1\">Bloomberg<\/a> says.\u201d<\/p><p><strong>No idea what we\u2019re talking about?<\/strong> We broke down the story \u2014 and what it means for Egypt \u2014 in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/12c21aca-573a-43dd-9b9f-8c0b0d572ff1\">yesterday\u2019s edition<\/a> of EnterprisePM.<\/p><p><strong>A major smartphone maker (not Apple) is entering the EV space: <\/strong>Xiaomi <a href=\"https:\/\/twitter.com\/Xiaomi\/status\/1376828192011427842\/photo\/1\">announced<\/a> yesterday it is investing USD 10 bn over the next decade in a subsidiary focused on the \"smart electric vehicle business.\" The Chinese company will spend an initial CNY 10 bn (c. USD 1.5 bn) to launch the business, expanding its investment in the coming years.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\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>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,740<\/p>\n<\/td>\n<td>\n<ul>\n<li> (YTD: -1.0%)<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.67<\/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>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-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>9,635<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: +10.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>5,911<\/p>\n<\/td>\n<td>\n<p>+1.5% (YTD: +17.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,559<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: +2.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,959<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: +5.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,772<\/p>\n<\/td>\n<td>\n<p>+0.5% (YTD: +4.8%)<\/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 64.20<\/p>\n<\/td>\n<td>\n<p>+0.1%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 2.62<\/p>\n<\/td>\n<td>\n<ul>\n<li> <\/li>\n<\/ul>\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 1,680.50<\/p>\n<\/td>\n<td>\n<p>-0.3%<\/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>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 58,810.77<\/p>\n<\/td>\n<td>\n<p>+2.7%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>The EGX30 ended yesterday flat<\/strong> on turnover of EGP 1.05 bn (27.8% below the 90-day average). Foreign investors were net buyers. The index is down 1.0% YTD.<\/p><p><strong>In the green: <\/strong>Orascom Financial (+6.0%), Pioneers (+3.5%) and Orascom Investment (+2.4%).<\/p><p><strong>In the red: <\/strong>Eastern Co. (-2.6%), Oriental Weavers (-1.5%), and MM Group (-1.3%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smartphone-makers\/\">smartphone makers<\/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=\"561269\">\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\">13<\/div>\r\n    \r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/how-two-egyptian-startups-are-filling-supply-chain-gaps-2\/\"> \r\n                            How two Egyptian startups are filling supply chain gaps<\/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\/how-two-egyptian-startups-are-filling-supply-chain-gaps-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\/hardhats\/how-two-egyptian-startups-are-filling-supply-chain-gaps-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\/hardhats\/how-two-egyptian-startups-are-filling-supply-chain-gaps-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=How two Egyptian startups are filling supply chain gaps&url=https:\/\/enterpriseam.com\/egypt\/hardhats\/how-two-egyptian-startups-are-filling-supply-chain-gaps-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\/hardhats\/how-two-egyptian-startups-are-filling-supply-chain-gaps-2\/&title=How two Egyptian startups are filling supply chain gaps\">\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=How+two+Egyptian+startups+are+filling+supply+chain+gaps+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fhardhats%2Fhow-two-egyptian-startups-are-filling-supply-chain-gaps-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>                    <\/div>\r\n    \r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/how-two-egyptian-startups-are-filling-supply-chain-gaps-2\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/370.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"561270\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/how-two-egyptian-startups-are-filling-supply-chain-gaps-2\/370-jpg-27\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/370.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"370.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/370.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/370.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-561269\" class=\"content-area-description post-561269 hardhat type-hardhat status-publish has-post-thumbnail hentry tag-brimore tag-enterprise-hardhat tag-enterpriseam tag-fmcg tag-maxab tag-supply-chain wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>A tale of two startups: How nascent companies are helping solve supply chain <\/strong><strong>fragmentation and pandemic-level customer demand \u2014 Part 2: <\/strong>We continue our series today on how startups in Egypt are helping solve some of the problems of our fragmented supply chain management system, particularly as e-commerce continues to rise. <a href=\"https:\/\/enterprise.press\/hardhats\/nascent-companies-helping-solve-supply-chain-fragmentation-pandemic-level-customer-demand-part-1\/\">Last week<\/a>, we looked at how Egyptian B2B bulk ordering startup <a href=\"https:\/\/www.maxab.io\/\">MaxAB<\/a> is using data from orders and its own delivery infrastructure to minimize the time wasted on trucks full of supply goods roaming the streets waiting for a retailer to buy products.<\/p>\n<p><strong>In Part 2, <\/strong>we look at a novel and non-traditional approach to supply chain issues such as customer acquisition and effective distribution, courtesy of social commerce platform <a href=\"https:\/\/brimore.com\/\">Brimore<\/a>.<\/p>\n<p><strong>Refresher: What\u2019s wrong with our current supply chain management system? <\/strong>Typically, a product traveling from the manufacturer to the consumer will change hands multiple times as it goes from the factory to a distributor, then a sub-distributor, a big wholesaler, a smaller wholesaler, and then a retailer. For FMCG products to reach the consumer, it gets even more inefficient, as a wholesaler vehicle stocked with one product from one company drives around, trying to sell the stock to a few of the 400k grocery shops all over Egypt, which oftentimes results in wasted time and expenses.<\/p>\n<p><strong>We weren\u2019t ready for the e-commerce boom: <\/strong>Before 2020, e-commerce used to be a marketplace living off single-product, single-item orders, which were often fulfilled by the supplier itself. The e-commerce boom saw customers ordering multiple products in large quantities, which need fleets and warehouses to be fulfilled, , CEO and cofounder of <a href=\"https:\/\/brimore.com\/\">Brimore<\/a> Mohamed Abdelaziz tells Enterprise. Egypt and the wider MENA region were not ready in terms of fulfillment infrastructure to cope with bulk orders of home-use goods and commodities, he added.<\/p>\n<p><strong>Furthermore, smaller manufacturers struggle with new customer acquisition and ensuring their products are available or in stock at every point of sale, <\/strong>Abdelaziz says. Firstly, acquiring new customers for their products entails convincing new people to actually try a new product. Secondly, making sure that 100% of their products are available at 100% of the locations, 24\/7 in order to avoid customer frustration and retain customers, is a pain. This requires money to effectively distribute goods and continuously track sales across all retail outlets. The first is a marketing problem; the other is a distribution and supply chain issue \u2014 and both are extremely costly.<\/p>\n<p><strong>One possible (homemade) solution: <\/strong>Brimore promises manufacturers to make their products consistently available and get new customers to try them. Brimore connects suppliers with independent sellers across 27 of Egypt\u2019s governorates. To do that, the company targets women living in remote areas who act as informal retailers, selling goods out of their homes in their local communities. These women can order the products directly from the supplier in bulk and use their local network (typically other women who manage household purchases) to make sales. This fuels a word-of-mouth type of direct selling, which unshackles the manufacturer from marketing costs.<\/p>\n<p><strong>What does this have to do with supply chain management? <\/strong>Instead of the product meandering through a five-stop process until it reaches the retailer, it is directly moved from manufacturer to those women through Brimore.<\/p>\n<p><strong>This model is gaining popularity, particularly outside Cairo and Alex: <\/strong>The total number of active women selling through Brimore is at 50k today, growing almost 9x y-o-y. Over 200 manufacturers are distributing their products through the company, while 70% of the business is located outside of Cairo and Alexandria. About 36% of Brimore\u2019s business comes from Upper Egypt and 10% from border governorate, such as Sinai and the New Valley. The company raised USD 4.3 mn of announced investment rounds to date.<\/p>\n<p><strong>That demand now requires Brimore to get it on fulfillment centers: <\/strong>During the pandemic, Brimore launched its own end-to-end fulfillment business. Up until last year, the company was still outsourcing its operations. Recently, it decided to take on its own supply chain infrastructure, including a warehouse to store all products it dispatches, and a last-mile delivery service to the women who would directly sell these products to consumers. The new line acts as a revenue center to its core business by fulfilling its own operations, as well as those of other businesses.<\/p>\n<p><strong>The model is proving attractive to VCs: <\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/66f9d72d-beec-475f-8868-41270e5b6a6d\">Brimore raised USD 3.5 mn in a pre-series A funding round<\/a> led by Algebra Ventures in 2020. Flat6Labs, Disruptech, Vision Ventures and 500 Startups also participated in the round. The investment came one year after the company secured USD 800k in seed funding in a round led by Algebra and Endure Capital.<\/p>\n<p><strong>Altogether, the 2020 experience was a boon for logistics startups\u2019 investment story.<\/strong> The sector was previously extremely underdeveloped, but the pandemic helped convince investors of the value in funding asset-heavy startups, Abdelaziz says. As these startups grow, so will asset-light businesses and marketplaces. Asset-heavy companies usually own a lot of fixed assets, such as machines, that are needed to generate income, while asset-light entities usually do not need a lot of tangible, expensive equipment to operate their business model.<\/p>\n<p><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Rail upgrades:<\/strong> A tender for modernizing the signaling system and track upgrade works along the Cairo-Beni Suef segment of Egypt\u2019s rail network will be issued <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2bcf3978-5ef1-496c-aa08-47cf1436e86e\">next month<\/a>, after it was previously postponed until foreign financing was secured for the project.<\/li>\n<li><strong>Land reclamation:<\/strong> 1 mn feddans of desert land near Egypt\u2019s northwestern coastline <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6426315c-08ba-4331-a1cf-dba35e11012a\">are slated<\/a>for reclamation as part of a new national mega-project to create an agricultural production zone dubbed the \u201cNew Delta.\u201d<\/li>\n<li><strong>Urban infrastructure:<\/strong> A multi-storey residential building collapsed in Gesr El Suez on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d90dff38-5115-4875-94e9-5cb9401dcfaa\">Saturday<\/a>, leaving at least 23 people dead and injuring 25 others.<\/li>\n<li><strong>Dry ports:<\/strong> Egypt is looking for European Bank for Reconstruction and Development (EBRD) <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3b6b8b7e-2b46-4e5a-a942-4503a2a11905\">funding<\/a> to conduct feasibility studies on the Damietta Dry Port.<\/li>\n<li><strong>Trade:<\/strong> Steven Yoogalingam <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6de1eb6a-edc1-4937-b014-232170fee88f\">was named<\/a> managing director of the Suez Canal Container Terminal (SCCT).<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/brimore\/\">Brimore<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fmcg\/\">FMCG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maxab\/\">MaxAB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-chain\/\">supply chain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\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=\"561271\" 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\/03\/31\/your-essential-business-calendar-on-31-march-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561271\" class=\"content-area-description single-story post-561271 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>31 March (Wednesday): Income tax deadline for individuals. Real estate tax filing deadline.<\/p>\n<p>31 March (Wednesday): The Egyptian-Croation Business Forum will convene.<\/p>\n<p>31 March (Wednesday): British Egyptian Business Association (BEBA) <a href=\"https:\/\/us02web.zoom.us\/webinar\/register\/WN_7tVqmW0cSTi86X6lJjcZyw\">webinar<\/a> on workplace harassment.<\/p>\n<p>1-3 April (Thursday-Saturday): <a href=\"http:\/\/hvacregypt.com\/\">HVAC-R Egypt Expo<\/a>, Egypt International Exhibition Center, New Cairo.<\/p>\n<p>5-11 April: The <a href=\"https:\/\/live.worldbank.org\/\">Spring Meetings<\/a> of the IMF and the World Bank Group will take place virtually.<\/p>\n<p>6 April (Tuesday): French Chamber of Commerce and Industry in Egypt working breakfast with Sovereign Fund of Egypt CEO Ayman Soliman.<\/p>\n<p>7 April (Wednesday): British-Egyptian Business Association (BEBA) webinar on digital banking and fintech.<\/p>\n<p>8-10 April (Thursday-Saturday): The TriFactory\u2019s Endurance Festival at Somabay.<\/p>\n<p>12 April (Sunday): Russian Foreign Minister Sergey Lavrov will visit Egypt for GERD talks (<a href=\"https:\/\/www.youtube.com\/watch?v=6Ue03xf1iRk\">watch: runtime: 1:28<\/a>).<\/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): Coptic 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>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>7-9 June (Monday-Wednesday): <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show<\/a>, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>17 June (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>17-20 June (Thursday-Sunday) : The International Exhibition of Materials and Technologies for Finishing and Construction (<a href=\"https:\/\/turnkeyexhibition.com\/\">Turnkey Expo<\/a>), Cairo International Conference Center.<\/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, Cairo, Egypt.<\/p>\n<p>30 June (Wednesday): 30 June Revolution Day.<\/p>\n<p>30 June- 15 July: National Book Fair.<\/p>\n<p>1 July: (Thursday): National holiday in observance of 30 June Revolution.<\/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>12 August (Thursday): National holiday in observance of the Islamic New Year.<\/p>\n<p>16 September (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>30 September-2 October (Thursday-Saturday): <a href=\"https:\/\/www.egypt-projects.com\/\">Egypt Projects 2021<\/a> expo, Egypt International Exhibition Center, Cairo, Egypt.<\/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>21 October (Thursday): National holiday in observance of the Prophet\u2019s Birthday.<\/p>\n<p>28 October (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>1-12 November (Monday-Friday): <a href=\"https:\/\/ukcop26.org\/\">2021 United Nations Climate Change Conference<\/a> (COP26), Glasgow, United Kingdom.<\/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>27 June - 3 July 2022 (Monday-Sunday): <a href=\"https:\/\/www.insidethegames.biz\/articles\/1103867\/fisu-world-university-squash-new-giza\">World University Squash Championships<\/a>, New Giza.<\/p>\n<p><strong>Note to readers: <\/strong>Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\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":561248,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-561247","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"57bc7f7f-fbab-43af-b903-8763310a5730","teaser":"","photo_url":"https:\/\/ent.news\/2021\/3\/364.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>EFG Education Fund hits third close with EGP 250 mn SFE investment - 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\/efg-education-fund-hits-third-close-with-egp-250-mn-sfe-investment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EFG Education Fund hits third close with EGP 250 mn SFE investment\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/efg-education-fund-hits-third-close-with-egp-250-mn-sfe-investment\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T03:13:56+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/364.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\/efg-education-fund-hits-third-close-with-egp-250-mn-sfe-investment\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/efg-education-fund-hits-third-close-with-egp-250-mn-sfe-investment\/\",\"name\":\"EFG Education Fund hits third close with EGP 250 mn SFE investment - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/efg-education-fund-hits-third-close-with-egp-250-mn-sfe-investment\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/efg-education-fund-hits-third-close-with-egp-250-mn-sfe-investment\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/364.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2021-03-31T04:11:08+00:00\",\"dateModified\":\"2025-12-16T03:13:56+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/efg-education-fund-hits-third-close-with-egp-250-mn-sfe-investment\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/issues\/efg-education-fund-hits-third-close-with-egp-250-mn-sfe-investment\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/efg-education-fund-hits-third-close-with-egp-250-mn-sfe-investment\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/364.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/364.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/efg-education-fund-hits-third-close-with-egp-250-mn-sfe-investment\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Issues\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/AMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"EFG Education Fund hits third close with EGP 250 mn SFE investment\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"EFG Education Fund hits third close with EGP 250 mn SFE investment - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/issues\/efg-education-fund-hits-third-close-with-egp-250-mn-sfe-investment\/","og_locale":"en_US","og_type":"article","og_title":"EFG Education Fund hits third close with EGP 250 mn SFE investment","og_url":"https:\/\/enterpriseam.com\/egypt\/issues\/efg-education-fund-hits-third-close-with-egp-250-mn-sfe-investment\/","og_site_name":"EnterpriseAM Egypt","article_modified_time":"2025-12-16T03:13:56+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/364.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/efg-education-fund-hits-third-close-with-egp-250-mn-sfe-investment\/","url":"https:\/\/enterpriseam.com\/egypt\/issues\/efg-education-fund-hits-third-close-with-egp-250-mn-sfe-investment\/","name":"EFG Education Fund hits third close with EGP 250 mn SFE investment - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/efg-education-fund-hits-third-close-with-egp-250-mn-sfe-investment\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/efg-education-fund-hits-third-close-with-egp-250-mn-sfe-investment\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/364.jpg?fit=%2C&ssl=1","datePublished":"2021-03-31T04:11:08+00:00","dateModified":"2025-12-16T03:13:56+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/efg-education-fund-hits-third-close-with-egp-250-mn-sfe-investment\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/issues\/efg-education-fund-hits-third-close-with-egp-250-mn-sfe-investment\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/efg-education-fund-hits-third-close-with-egp-250-mn-sfe-investment\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/364.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/364.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/efg-education-fund-hits-third-close-with-egp-250-mn-sfe-investment\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Issues","item":"https:\/\/enterpriseam.com\/egypt\/AMarchives\/"},{"@type":"ListItem","position":3,"name":"EFG Education Fund hits third close with EGP 250 mn SFE investment"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/561247","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/issue"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/561247\/revisions"}],"predecessor-version":[{"id":561281,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/561247\/revisions\/561281"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/561248"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=561247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=561247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=561247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}