{"id":579107,"date":"2023-01-25T04:15:48","date_gmt":"2023-01-25T04:15:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=579107"},"modified":"2025-12-16T11:54:30","modified_gmt":"2025-12-16T11:54:30","slug":"investments-ma-in-our-healthcare-and-pharma-sectors","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/investments-ma-in-our-healthcare-and-pharma-sectors\/","title":{"rendered":"Investments + M&#038;A in our healthcare and pharma sectors"},"content":{"rendered":"<section id=\"579109\" 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=\"579109\">\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\/2023\/01\/25\/this-morning-a-short-slide-into-the-long-weekend\/\">\r\n                            THIS MORNING: A short slide into the long weekend                        <\/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\/2023\/01\/25\/this-morning-a-short-slide-into-the-long-weekend\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/this-morning-a-short-slide-into-the-long-weekend\/438-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/438.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"438.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/438.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/438.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579109\" class=\"content-area-description single-story post-579109 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-oil-and-gas tag-tarek-el-molla tag-tourism tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, wonderful people, and happy THURSDAY-equivalent. <\/strong>We hope our Egypt-based readers get some well-earned rest on the three-day weekend after what has somehow felt like a very long week.<\/p><p><strong>We\u2019re out of office, too: <\/strong>EnterpriseAM and EnterprisePM will not be publishing tomorrow as we observe Police Day \/ Revolution Day. We\u2019ll be back in your inbox at our customary time on Sunday, 29 January.<\/p><p><strong>BUT FIRST- We have another packed issue to see you into the holiday, <\/strong>with tons of investment news, more recalibration of business plans post the float of the EGP, and the likely disappearance of high-yield CDs next week. All of this and more starting in this morning\u2019s news well, below.<\/p><p><strong>More progress on clearing the import backlog at ports: <\/strong>Imports worth more than USD 1.5 bn were cleared from our ports between 18-23 January, cabinet spokesperson Nader Saad said in a cabinet <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02Uv23qziVWtbHeoq36MesHLMKpPQA6xKbw8GBuwcbVTCjrmU1WobEnxzwjmP3Yiptl?__cft__%5B0%5D=AZUqzb6KwRoxvXRQDIsgSOPmy4MDhXiwNtEi3dW12FqcsWrKu_MWtWyaufsyKoc3TPlzDvHTGWk4FvJuDBTWfkd81WOkeG8mLEhd9fROvyaiFI5qyzDUL9i_pHLc0fzV66PgR3DK8MKcoISoxDc7dufL5dKmW4FU7aZBg2mlN2jXijdmCWbf8YUqkrpuRb_e1YM&amp;__tn__=,O,P-R\">statement<\/a> yesterday. Saad didn\u2019t disclose the value of goods still to be released, though Prime Minister Moustafa Madbouly on 18 January put the figure at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e9c93016-3587-46a9-88ba-684c1db237c5\">USD 5.3 bn<\/a>, of which he said more than half (USD 3 bn) is pending documents from importers rather than hard currency to be released. Some USD 15.4 bn of goods have now been cleared in total since 1 December, per our math.<\/p><p><strong>HAPPENING TODAY-<\/strong><\/p><p><strong>El Sisi in India: <\/strong>It\u2019s the second day of President Abdel Fattah El Sisi\u2019s three-day visit to India at the invitation of Prime Minister Narendra Modi. El Sisi will be honored as \u201cchief guest\u201d at celebrations to mark the country\u2019s 74th Republic Day tomorrow.<\/p><p><strong>The national handball team faces hosts Sweden in the quarter finals of the <\/strong><strong>International Handball Federation\u2019s (IHF) Men's World Championship, <\/strong>tonight at 9:30pm CLT in Stockholm.<\/p><p><strong>Fun fact: We\u2019ve never beaten the Swedish side in the World Championships<\/strong>, having clocked up six losses and one draw. The Pharaohs almost managed to defeat the Swedes on home soil last year, missing out on victory by just a couple points, according to the <a href=\"https:\/\/www.ihf.info\/media-center\/news\/unbeaten-sweden-meet-only-non-european-side-while-reigning-champions-face\">IHF<\/a>.<\/p><hr class=\"grey-line\"><p><strong>WATCH THIS SPACE-<\/strong> <strong>Are we loving Airbnb<\/strong><strong>?<\/strong> Real estate owners could convert their properties in tourist hotspots and new cities into tourist accommodation, Prime Minister Moustafa Madbouly suggested in a meeting yesterday, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid09ABpvpwGVfp9v5bLFSLkydyE9RXBF5Pf7f5L9fSzXhHFt8XCGM6Y977KFMAWdpk7l\">cabinet statement<\/a>. Owners should make \u201cbest use\u201d of their real estate assets and help maximize accommodation capacity by renting out their properties to tourists, Madbouly said, without giving details.<\/p><p><strong>REMEMBER- <\/strong>The government is<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/923843df-1ef1-4551-8a75-34f68668951d\">pushing the tourism sector<\/a> to up accommodation capacity and improve services as part of plans to attract as many as 30 mn tourists by 2028. Look out for <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3564fecc-ba24-4f50-9625-638c4ec6afb6\">a new tourism strategy<\/a> later this quarter for details on how those goals will be achieved.<\/p><p><strong>DATA POINT: Our oil trade balance surplus came in at more than USD 3 bn in <\/strong><strong>2022<\/strong>, Oil Minister Tarek El Molla told Al Arabiya TV in an interview (<a href=\"http:\/\/bit.ly\/3GW8MJK\">watch, runtime: 1:58<\/a>). He said the figure was preliminary and unaudited. The country is targeting petroleum exports of more than USD 18 bn this year, El Molla added.<\/p><hr class=\"grey-line\"><p><strong>THE BIG STORY ABROAD: <\/strong>The international press is caught up in European geopolitics this morning, as the media continues to try and figure out who is and isn\u2019t <a href=\"https:\/\/www.reuters.com\/world\/europe\/ukraine-pledges-sweeping-personnel-changes-allies-jostle-over-tanks-2023-01-23\/\">sending tanks to Ukraine<\/a>, while Finland is wondering if it can <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-24\/finland-signals-it-may-consider-nato-entry-without-sweden?srnd=premium-middle-east&amp;sref=mmeFTDW1\">still get into NATO<\/a> if it ditches Sweden at the door.<\/p><p><strong>We don\u2019t know where to look in the international business press<\/strong> as several stories break at once this morning:<\/p><ul>\n<li><strong>Mr. Murdoch has scrapped his controversial plan to reunite media giants News Corp and Fox Corp in a merger <\/strong>after shareholder pushback. (<a href=\"https:\/\/www.reuters.com\/business\/media-telecom\/rupert-murdoch-scraps-proposal-combine-fox-news-corp-2023-01-24\/\">Reuters<\/a> | <a href=\"https:\/\/www.ft.com\/content\/e468c2e9-9ebb-47d5-86bb-ec2ab6b7cee5\">FT<\/a>)<\/li>\n<li><strong>US prosecutors are gunning for Google over antitrust issues: <\/strong>The US Department of Justice is suing the tech behemoth in a bid to break what prosecutors characterized as a digital advertising monopoly, ramping up the pressure on Google over antitrust issues in several countries. (<a href=\"https:\/\/www.wsj.com\/articles\/u-s-sues-google-for-alleged-antitrust-violations-in-its-ad-tech-business-11674582792?mod=hp_lead_pos1\">WSJ<\/a> | <a href=\"https:\/\/www.reuters.com\/technology\/us-set-sue-google-be-joined-by-about-eight-states-sources-2023-01-24\/\">Reuters<\/a> | <a href=\"https:\/\/www.ft.com\/content\/3036ca89-50b3-46c7-8c54-fc2b24afe48b\">FT<\/a>)<\/li>\n<li><strong>More trouble in tech: <\/strong>Microsoft sales hit a six-year low in 4Q 2022, while net income fell 12% y-o-y to USD 16.4 bn. The company already said it is cutting some 10k jobs on the back of the slowdown. (<a href=\"https:\/\/www.wsj.com\/articles\/microsoft-msft-q2-earnings-report-2023-11674522540?mod=hp_lead_pos2\">WSJ<\/a>)<\/li>\n<\/ul><p><strong>AND- We had a feeling the Davos spirit wouldn\u2019t last. <\/strong>After a surprise wave of optimism over the global economy out of the World Economic Forum in Davos last week, Bloomberg is back to burst the bubble with renewed talk of the threat of <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-24\/stagflation-could-undercut-economic-optimism-at-davos?srnd=premium-middle-east&amp;sref=mmeFTDW1\">stagflation<\/a>. The positive developments that helped buoy the mood in Davos \u2014 including China\u2019s reopening and energy prices kept at bay by a warmer winter \u2014 are making stagflation \u201clook increasingly likely,\u201d the business newswire says. \u201cThat would be the worst-case outcome for all financial assets,\u201d warns Nicolai Tangen, CEO of Norway\u2019s sovereign wealth fund.<\/p><p><strong>SOUND SMART- Stagflation = stagnating growth + high inflation, <\/strong>AKA economists\u2019 worst nightmare. The global economy had it bad in the 1970s, and we\u2019ve been hearing warnings that it could come back for the best part of a year. Read more in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8d4e167-4793-4949-bcf7-7504fef9ff63\">our explainer<\/a>.<\/p><p><strong>THE BIG SCREEN- Everything Everywhere All At Once tops Oscar noms: <\/strong>The sci-fi adventure hit starring Michelle Yeoh led the pack with 11 Academy Award nominations, including best picture. Fellow best picture contenders All Quiet on the Western Front and The Banshees of Inisherin followed up with nine nominations each. See the <a href=\"https:\/\/www.oscars.org\/oscars\/ceremonies\/2023\">full list of nominees in every category here.<\/a><\/p><p><strong>Not getting an Oscar: <\/strong><a href=\"https:\/\/www.usatoday.com\/story\/entertainment\/movies\/2023\/01\/24\/oscar-snubs-nominations-2023\/11105076002\/\">The snubs<\/a> are more fun than the noms, in our view. Among those missing out this year are James Cameron, who will not be getting a best director award for his Avatar sequel, and Tom Cruise, whose Top Gun comeback did not gain him a best actor nomination (though both films are in the running for best picture.)<\/p><p><strong>MORNING MUST WATCH- Do you love Ted Lasso? <\/strong><strong><a href=\"https:\/\/www.youtube.com\/watch?v=1HWUjMjaBJI\">Watch this Apple advert<\/a><\/strong><a href=\"https:\/\/www.youtube.com\/watch?v=1HWUjMjaBJI\">(runtime 5:53)<\/a>, starring Nick Mohammed (Nate on the show). Don\u2019t know what Ted Lasso is, but care about privacy when you\u2019re using your phone? Watch it anyway. Then head over to Apple TV+ to catch the first season of the brilliant, light-hearted fish-out-of-water show about a Premier League football team.<\/p><p><strong>COME TO OUR NEXT ENTERPRISE FORUM- <\/strong><\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/Enterprise-FDI-Exports_1600.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>We\u2019re excited to unveil our next C-level event: <\/strong>The Enterprise FDI + Exports Forum, where we will take a deep dive into two of the most critical topics affecting our community.<\/p><p><strong>Exports and foreign direct investment (FDI) have never been more important to our economy<\/strong> \u2014 or our businesses \u2014 than in the wake of the float of the EGP. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/feeda831-c0fd-43df-b197-08ddb74254e7\">We think we have a once-in-a-lifetime chance to build an export-led economy<\/a> that makes us a magnet for FDI and all the benefits that will come with it for our nation.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>EBRD + EU + GCF green finance event next week:<\/strong> The European Bank for Reconstruction and Development, the EU, the <a href=\"https:\/\/enterprise.press\/greeneconomys\/whats-green-economy-financing-facility-geff-work\/\">Green Economic Financing Facility<\/a>, and the <a href=\"https:\/\/www.greenclimate.fund\/about\">Green Climate Fund<\/a> will hold a green finance event on Tuesday, 31 January at the Nile Ritz Carlton Hotel.<\/p><p><strong>OPEC+ is meeting remotely next Wednesday, 1 February and delegates are <\/strong><strong>expecting the committee to keep oil output unchanged <\/strong>as global demand picks up, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-24\/opec-delegates-expect-february-panel-to-recommend-steady-output?srnd=premium-middle-east\">Bloomberg<\/a>reports. The committee will continue to look tino the impact of Western sanctions on Russian crude and the relaxation of China\u2019s covid restrictions on the global market, unnamed delegates told the business information service. This would mark the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/677d7076-0142-4ba8-9bee-b1d82926f380\">second consecutive meeting<\/a> during which OPEC opted out of changing oil output, following a surprise 2 mn barrels-per-day cut in October. \u201cOPEC+ looks increasingly likely to keep output levels unchanged even after the scheduled meeting \u2026 Prices have firmed, supply remains tight, and significant levels of uncertainty prevail for both supply and demand,\u201d Eurasia Group Analyst Raad Alkadiri said.<\/p><p><strong>The US Federal Reserve also meets next week<\/strong>, gathering on 31 January and 1 February to set interest rates. <strong>There\u2019s growing speculation the US central bank will go for what the gang at Zooba would call a Slightly Smaller interest rate hike. <\/strong><\/p><p><strong>The Senate is set to reconvene on Sunday, 5 February,<\/strong> having yesterday completed two days of plenary sessions that saw members discuss tourism promotion and education reform.<\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/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, and urban development, as well as social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue: <\/strong>Mooted delays to national projects could deepen woes in the construction industry.<\/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\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-el-molla\/\">Tarek El Molla<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"579111\" 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=\"579111\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/579111\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579111\" class=\"content-area-description single-story post-579111 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/Simply-Somabay-6-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p>Somabay brings out the best in majestic natural elements where raw beauty and endless activities reign supreme. Immerse yourself into a picturesque getaway all year long. This is simply Somabay. For more information, call 16390 or visit <a href=\"http:\/\/www.somabay.com\">www.somabay.com<\/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=\"579112\" 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=\"579112\">\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\/2023\/01\/25\/sfe-b-investments-team-up-to-invest-egp-2-bn-in-healthcare-pharma-firms\/\">\r\n                            SFE, B Investments team up to invest EGP 2 bn in healthcare + pharma firms                        <\/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\/2023\/01\/25\/sfe-b-investments-team-up-to-invest-egp-2-bn-in-healthcare-pharma-firms\/\" 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\/2023\/01\/25\/sfe-b-investments-team-up-to-invest-egp-2-bn-in-healthcare-pharma-firms\/')\">\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\/2023\/01\/25\/sfe-b-investments-team-up-to-invest-egp-2-bn-in-healthcare-pharma-firms\/\">\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, B Investments team up to invest EGP 2 bn in healthcare + pharma firms&url=https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/sfe-b-investments-team-up-to-invest-egp-2-bn-in-healthcare-pharma-firms\/\">\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\/2023\/01\/25\/sfe-b-investments-team-up-to-invest-egp-2-bn-in-healthcare-pharma-firms\/&title=SFE, B Investments team up to invest EGP 2 bn in healthcare + pharma firms\">\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%2C+B+Investments+team+up+to+invest+EGP+2+bn+in+healthcare+%2B+pharma+firms+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F01%2F25%2Fsfe-b-investments-team-up-to-invest-egp-2-bn-in-healthcare-pharma-firms%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\/2023\/01\/25\/sfe-b-investments-team-up-to-invest-egp-2-bn-in-healthcare-pharma-firms\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/439.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"579113\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/sfe-b-investments-team-up-to-invest-egp-2-bn-in-healthcare-pharma-firms\/439-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/439.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"439.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/439.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/439.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579112\" class=\"content-area-description single-story post-579112 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-b-investments tag-enterpriseam tag-healthcare tag-investment-watch tag-pharma tag-private-equity 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 id=\"tldr-story-01\" class=\"content-anchor\"><\/a> <strong>SFE + B Investments to co-invest in healthcare, pharma: <\/strong>The Sovereign Fund of Egypt (SFE) and B Investments will together invest in Egypt\u2019s healthcare and pharma industries under two agreements that could channel more than EGP 2 bn into local businesses, they said in <a href=\"https:\/\/tsfe.com\/pressDetails22.html\">a joint statement<\/a>.<\/p>\n<p><strong>#1- The SFE is joining B Investments\u2019 healthcare subsidiary: <\/strong>The first agreement will see the SFE invest EGP 100 mn in B Healthcare Investments, which aims to raise up to EGP 1 bn to deploy in the specialized healthcare sector. B Investments will stump up an additional 200 mn; the firm is aiming to place the rest of the fund with a mix of local and regional private-sector investors. B Investments set up the healthcare investment vehicle <a href=\"https:\/\/ent.news\/2022\/8\/B-Investments-1H22-Earnings-Release-2.pdf\">in 2021 (pdf, see page 16)<\/a>.<\/p>\n<p><strong>B Healthcare Investments\u2019 first big acquisition was a leading fertility center:<\/strong> The company had \u201can initial focus on fertility, mother-and-child, and related services businesses,\u201d the statement reads. It <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3b78fb97-77c9-471e-be3b-c9a6a9d72f13\">acquired<\/a> last summer 51% of the Egyptian IVF Center, one of the country\u2019s leading fertility centers, and said at the time that it was looking at follow-on investments.<\/p>\n<p><strong>#2- B investments is joining the SFE\u2019s <\/strong><strong>health and pharma sub-fund<\/strong><strong>:<\/strong> B Investments will make an undisclosed investment in the sub-fund under the second agreement. The SFE is looking to raise an initial EGP 1.2 bn of capital for the sub-fund, with aspirations to grow bigger down the line. It will invest in local pharma players to help them expand into under-served cities around the country and improve their digital offering.<\/p>\n<p><strong>There are more investments in the pipeline: <\/strong>B Investments <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/83c5f1c0-b4a5-4f59-8062-7ebfb92072ba\">intends to invest EGP 2 bn<\/a> in the healthcare and food sectors this year, with plans to acquire a healthcare company in 1Q 2023 and close a transaction in the food sector by 2Q. The private equity firm will reportedly fund the upcoming transactions with some of the proceeds of its exits from TotalEnergies Egypt and Giza Systems, which are expected to raise more than USD 150 mn combined.<\/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\/b-investments\/\">B Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/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\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/private-equity\/\">private equity<\/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=\"579114\" 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=\"579114\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/affirma-capital-stonepine-close-acquisition-of-minority-stake-in-pharma-player-nerhadou\/\">\r\n                            Affirma Capital, StonePine close acquisition of minority stake in pharma player Nerhadou                        <\/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\/2023\/01\/25\/affirma-capital-stonepine-close-acquisition-of-minority-stake-in-pharma-player-nerhadou\/\" 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\/2023\/01\/25\/affirma-capital-stonepine-close-acquisition-of-minority-stake-in-pharma-player-nerhadou\/')\">\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\/2023\/01\/25\/affirma-capital-stonepine-close-acquisition-of-minority-stake-in-pharma-player-nerhadou\/\">\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=Affirma Capital, StonePine close acquisition of minority stake in pharma player Nerhadou&url=https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/affirma-capital-stonepine-close-acquisition-of-minority-stake-in-pharma-player-nerhadou\/\">\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\/2023\/01\/25\/affirma-capital-stonepine-close-acquisition-of-minority-stake-in-pharma-player-nerhadou\/&title=Affirma Capital, StonePine close acquisition of minority stake in pharma player Nerhadou\">\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=Affirma+Capital%2C+StonePine+close+acquisition+of+minority+stake+in+pharma+player+Nerhadou+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F01%2F25%2Faffirma-capital-stonepine-close-acquisition-of-minority-stake-in-pharma-player-nerhadou%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\/2023\/01\/25\/affirma-capital-stonepine-close-acquisition-of-minority-stake-in-pharma-player-nerhadou\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/441.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"579115\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/affirma-capital-stonepine-close-acquisition-of-minority-stake-in-pharma-player-nerhadou\/441-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/441.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"441.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/441.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/441.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579114\" class=\"content-area-description single-story post-579114 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-affirma-capital tag-enterpriseam tag-ipo-watch tag-ma-watch tag-pharma tag-private-equity 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>Nerhadou has new minority shareholders:<\/strong> A private equity consortium of <a href=\"https:\/\/affirmacapital.com\/\">Affirma Capital<\/a> and <a href=\"https:\/\/www.stonepine-capital.com\/\">StonePine<\/a> has closed its acquisition of a \u201csignificant minority stake\u201d in local pharma and nutraceutical player <a href=\"http:\/\/nerhadou.com\/\">Nerhadou International<\/a>, according to <a href=\"https:\/\/ent.news\/2023\/1\/AffirmaCapital-StonePine.pdf\">a joint statement (pdf)<\/a> out yesterday. The statement did not disclose the size of the stake, but said the transaction was worth USD 20 mn.<\/p>\n<p><strong>We first heard of this last year:<\/strong> Yesterday\u2019s acquisition comes <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d95e7c6f-dfea-4c16-a115-7fd83b3fe2d5\">nearly one year<\/a> after the two PE outfits first said they were investing in the company. The interest was driven by the local pharma player\u2019s \u201csizable presence and dominant market share,\u201d the firms said at the time. Nerhadou is also the first in the country to manufacture oral dispersible film (dissolvable meds, an alternative to pills), giving it a first-mover advantage.<\/p>\n<p><strong>What\u2019s in it for Nerhadou: an IPO?<\/strong> \u201cWe are excited to partner with Affirma Capital and StonePine to accelerate Nerhadou\u2019s clear growth trajectory and bring the company to IPO standards,\u201d Nerhadou Chairman Mohsen Shalaby said. The two PE firms would help \u201csolidify our market leadership position,\u201d he said.<\/p>\n<p><strong>More investments planned?<\/strong> The play for Nerhadou is the first joint investment between the two emerging-market private equity firms in Egypt and is part of a wider joint strategy to invest in the country, the statement said. Affirma Capital and StonePine have opened a HQ in Cairo and appointed a local investment team.<\/p>\n<p><strong>StonePine already knows the market:<\/strong> StonePine ACE Fund \u2014 a joint venture between StonePine Capital Partners and ACE & Company, a Geneva-based global PE fund \u2014 was among the consortium of companies that <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/23\/ci-capital-led-consortium-acquires-60-of-taaleem-for-egp-1-2-bn\/\">acquired a 60% stake<\/a>in Taaleem Management Services in 2019. It has also made an undisclosed investment in funeral services startup Sokna.<\/p>\n<p><strong>ADVISORS<\/strong><strong>:<\/strong> White & Case was the legal advisor for Affirma Capital and StonePine. ADIB Capital, the investment banking arm of ADIB Egypt, was the lead sell advisor on behalf of Nerhadou, while Al Tamimi & Company were Nerhadou\u2019s legal advisors.<\/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\/affirma-capital\/\">Affirma Capital<\/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\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/private-equity\/\">private equity<\/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=\"579116\" 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=\"579116\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/merger-with-newmed-looks-dead-after-capricorn-directors-quit-en-masse\/\">\r\n                            Merger with NewMed looks dead after Capricorn directors quit en masse                        <\/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\/2023\/01\/25\/merger-with-newmed-looks-dead-after-capricorn-directors-quit-en-masse\/\" 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\/2023\/01\/25\/merger-with-newmed-looks-dead-after-capricorn-directors-quit-en-masse\/')\">\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\/2023\/01\/25\/merger-with-newmed-looks-dead-after-capricorn-directors-quit-en-masse\/\">\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=Merger with NewMed looks dead after Capricorn directors quit en masse&url=https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/merger-with-newmed-looks-dead-after-capricorn-directors-quit-en-masse\/\">\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\/2023\/01\/25\/merger-with-newmed-looks-dead-after-capricorn-directors-quit-en-masse\/&title=Merger with NewMed looks dead after Capricorn directors quit en masse\">\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=Merger+with+NewMed+looks+dead+after+Capricorn+directors+quit+en+masse+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F01%2F25%2Fmerger-with-newmed-looks-dead-after-capricorn-directors-quit-en-masse%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\/2023\/01\/25\/merger-with-newmed-looks-dead-after-capricorn-directors-quit-en-masse\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/443.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"579117\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/merger-with-newmed-looks-dead-after-capricorn-directors-quit-en-masse\/443-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/443.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"443.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/443.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/443.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579116\" class=\"content-area-description single-story post-579116 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-capricorn-energy tag-enterpriseam tag-ma-watch tag-newmed tag-oil-and-gas 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>Capricorn\u2019s board jumps before it\u2019s pushed:<\/strong> The chair, CEO, and three other directors of Capricorn Energy\u2019s board have resigned, caving to pressure from shareholders led by activist investor Palliser Capital to overhaul the company\u2019s management and block a proposed merger with Israeli energy firm NewMed Energy.<\/p>\n<p><strong>WHY DO WE CARE? Capricorn has a sizable portfolio of upstream assets in Egypt. <\/strong>The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e20731c9-91e5-4f84-80a8-684f2834b9b5\">merger<\/a> would have given NewMed control of those assets, paving the way for closer energy ties between Israel and Egypt boosting our ambitions to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/613a0e7e-2a74-4d1b-8b28-0c9660944559\">take Russia\u2019s place<\/a> as Europe\u2019s go-to energy supplier. NewMed is a key supplier of natural gas to Egypt from its offshore fields, providing gas via the EMG pipeline to our two LNG plants on the Mediterranean coast.<\/p>\n<p><strong>The heads that rolled: <\/strong>Company chair Nicoletta Giadrossi and CEO Simon Thomson \u2014 who has been in the role for more than a decade \u2014 are among the five board members stepping down with immediate effect, while CFO James Smith and another director will exit before a general shareholder meeting on 1 February, according to a <a href=\"https:\/\/ent.news\/2023\/1\/Capricorn-board-shake-up.pdf\">statement (pdf)<\/a> by the board. That leaves just two of Capricorn\u2019s nine directors still in place.<\/p>\n<p><strong>This marks a victory for activist investor Palliser: <\/strong>Palliser Capital \u2014 one of Capricorn\u2019s largest shareholders with a stake of around 7% \u2014 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2bd16acf-0bc2-4e41-abb4-98ff04e3cb71\">led a charge<\/a> against the company\u2019s plans to merge with Israel\u2019s NewMed, arguing alongside other shareholders that the proposed merger undervalues Capricorn and is \u201cunnecessarily biased towards NewMed.\u201d Pressure on Capricorn\u2019s management ramped up after Palliser <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b30f18a-8862-4ce9-ac4c-db488429e7ff\">called for a vote<\/a> to overthrow the seven board members on 1 February. Capricorn\u2019s board looked set to fight back, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1b97e663-eeeb-40ff-8ca9-8481592889c8\">scheduling a shareholders\u2019 vote on the merger<\/a> just hours before on the same day. But mounting support from shareholders for Palliser\u2019s coup \u2014 helped along by recommendations in recent days from independent corporate advisors <a href=\"https:\/\/www.businesswire.com\/news\/home\/20230119005956\/en\/ISS-Unanimous-Support-for-Palliser-Recommends-Capricorn-Shareholders-Vote-AGAINST-Capricorn\u2019s-Misguided-Merger-with-NewMed-and-FOR-All-Palliser-Board-Change-Proposals\">ISS<\/a> and <a href=\"https:\/\/www.businesswire.com\/news\/home\/20230122005032\/en\/Glass-Lewis-Unanimously-Recommends-Capricorn-Shareholders-Vote-AGAINST-Proposed-Merger-with-NewMed-and-FOR-All-Board-Change-Proposals\">Glass Lewis<\/a> that they reject the merger \u2014 looks to have forced Capricorn\u2019s board into admitting defeat.<\/p>\n<p><strong>What now for the tie-up with NewMed? <\/strong>The move means the merger is likely dead in the water. In a statement to the Tel Aviv stock exchange, NewMed said it \u201cestimates that the probability for the closing of the transaction has significantly decreased,\u201d adding that it continues to examine \u201cstrategic alternatives.\u201d<\/p>\n<p><strong>Capricorn shareholders are picky: <\/strong>This is the second time Capricorn shareholders oppose management's plans after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/91191b64-74c4-49d6-80dd-3260bd490ab2\">scrubbing a proposed merger<\/a> with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8243aacf-0536-4e50-9b1f-5d1e88971933\">Tullow Oil<\/a> earlier this year.<\/p>\n<p><strong>What do the activists want instead? Take a guess. <\/strong>Palliser \u201cwants much of the oil and gas group\u2019s USD 700mn in net [capital] distributed to shareholders,\u201d the <a href=\"https:\/\/www.ft.com\/content\/aeeef369-4d6a-47d3-8bc6-641fc9d37862\">Financial Times<\/a> reports, while fellow activist shareholder Irenic is demanding the \u201cimmediate return of excess capital,\u201d it said in a <a href=\"https:\/\/www.businesswire.com\/news\/home\/20230124005734\/en\">statement<\/a> yesterday.<\/p>\n<p><strong>Palliser is promising a better path \u2014 especially as far as we\u2019re concerned: <\/strong>\u201cWe welcome the board\u2019s decision to step aside and enable a better path forward for Capricorn,\u201d Palliser said in a <a href=\"https:\/\/www.businesswire.com\/news\/home\/20230124005940\/en\">statement.<\/a> \u201cWe are confident that today\u2019s announcement marks the first step towards governance reform and a new leadership team focused on optimizing value and delivering real growth in Egypt.\u201d<\/p>\n<p><strong>Next steps: <\/strong>Shareholders will still convene on 1 February for the general meeting, where they will likely discuss new appointments to the board. Palliser has already disclosed its preferred candidates, who include <strong>Hesham Mekawi<\/strong>, the former Egypt and later North Africa regional president at BP, and <strong>Christopher Cox<\/strong>, the former CEO of Spirit Energy. The vote on the merger has been pushed to 22 February. <strong>The story also got coverage from <\/strong><strong><a href=\"https:\/\/www.reuters.com\/business\/energy\/uks-capricorn-energy-says-chair-ceo-step-down-board-2023-01-24\/\">Reuters<\/a><\/strong> <strong>and <\/strong><strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-24\/capricorn-ditches-several-board-members-on-investor-pressure?utm_source=google&utm_medium=bd&cmpId=google\">Bloomberg<\/a><\/strong><strong>.<\/strong><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capricorn-energy\/\">Capricorn Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/newmed\/\">NewMed<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"579118\" 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=\"579118\">\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\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/its-sayonara-to-high-yield-cds-at-the-end-of-the-month\/\">\r\n                            It\u2019s sayonara to high-yield CDs at the end of the month                        <\/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\/2023\/01\/25\/its-sayonara-to-high-yield-cds-at-the-end-of-the-month\/\" 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\/2023\/01\/25\/its-sayonara-to-high-yield-cds-at-the-end-of-the-month\/')\">\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\/2023\/01\/25\/its-sayonara-to-high-yield-cds-at-the-end-of-the-month\/\">\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=It\u2019s sayonara to high-yield CDs at the end of the month&url=https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/its-sayonara-to-high-yield-cds-at-the-end-of-the-month\/\">\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\/2023\/01\/25\/its-sayonara-to-high-yield-cds-at-the-end-of-the-month\/&title=It\u2019s sayonara to high-yield CDs at the end of the month\">\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=It%E2%80%99s+sayonara+to+high-yield+CDs+at+the+end+of+the+month+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F01%2F25%2Fits-sayonara-to-high-yield-cds-at-the-end-of-the-month%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\/2023\/01\/25\/its-sayonara-to-high-yield-cds-at-the-end-of-the-month\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/444.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"579119\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/its-sayonara-to-high-yield-cds-at-the-end-of-the-month\/444-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/444.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"444.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/444.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/444.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579118\" class=\"content-area-description single-story post-579118 post type-post status-publish format-standard has-post-thumbnail hentry category-banking tag-banking tag-banque-misr tag-cib tag-economy tag-egp tag-enterpriseam tag-qnb-alahli 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>Banque Misr and the National Bank of Egypt are pulling their <\/strong><strong>one-year, 25% certificates of deposit <\/strong><strong>after the end of January<\/strong>, according to emailed statements from the two banks. The high-yield savings products were <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/925e4b4b-5b42-4247-9c68-4a8084d7f8a1\">introduced to the market<\/a> on 4 January ahead of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63a7ec65-1966-4d8f-9b11-181cbd0f12b6\">the EGP devaluation<\/a> to help curb inflation and dollarization. They offer savers a one-time 25% payout on maturity, or monthly interest payouts at a reduced 22.5% annualized rate.<\/p>\n<p><strong>More banks have issued CDs:<\/strong> Private lenders CIB and QNB Al Ahli each <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3dc90d26-f363-4f4c-9854-f2ddaef9b1f6\">launched<\/a> one-year CDs offering buyers a one-time payment of 22.5% on the maturing of their CD, or a monthly interest payout at a reduced annualized rate of 20%. While CIB\u2019s minimum buy-in is EGP 100k, QNB offers a EGP 1k minimum. Most recently, state-owned Banque du Caire <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b252d5fc-e5e3-41f9-a8ca-8c9cf8c17127\">introduced<\/a> its own one-year 25% CD akin to those at NBE and Banque Misr.<\/p>\n<p><strong>Expect all of the banks to pull their CDs from the market at the same time. <\/strong>If NBE and BM are no longer selling them, then there\u2019s no impetus for other banks to continue doing \u2014 they introduced their CDs as defensive measures to protect deposits.<\/p>\n<p><strong>We knew this was coming: <\/strong>Banque Misr Chairman Mohamed El Etreby <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b252d5fc-e5e3-41f9-a8ca-8c9cf8c17127\">last week<\/a> said the CDs at NBE and BM could be withdrawn in days \u2014 and by the end of the month at the latest.<\/p>\n<p><strong>Savers have piled in:<\/strong> Savers have put EGP 260 bn into NBE\u2019s CDs, the bank said in the statement. Banque Misr didn\u2019t disclose a figure, though it had collected EGP 120 bn as of a week ago.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egp\/\">EGP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qnb-alahli\/\">QNB Alahli<\/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=\"579120\" 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=\"579120\">\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\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/govt-to-decide-on-hotel-privatization-within-two-months\/\">\r\n                            Gov\u2019t to decide on hotel privatization within two months                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/govt-to-decide-on-hotel-privatization-within-two-months\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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A decision will be made on which hotels to include within 6-8 weeks, the person said, adding that the rethink was triggered by the devaluation of the EGP. The offering would be made to investors under a public-private partnership (PPP) arrangement, the source revealed.<\/p>\n<p><strong>REFRESHER- <\/strong>The government <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/158188ff-65a9-4146-adc1-5f53c1a3f6e5\">said last year<\/a> that it would merge seven or eight state-owned hotels into a single entity to be offered up as part of the state\u2019s privatization plans. Aswan\u2019s Sofitel Legend Old Cataract, Cairo Marriott Hotel, Marriott Mena House, and Steigenberger Cecil Hotel Alexandria \u2014 which are all owned by the Holding Company for Tourism and Hotels (HOTAC) \u2014 were reportedly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f1b5b942-ec9f-4815-8166-e7463ec8d661\">named<\/a> by then-public enterprises minister Hisham Tawfik for inclusion.<\/p>\n<p><strong>Gulf funds are interested:<\/strong> The source declined to disclose the identities of the investors involved but said that most of the interest was coming from Gulf funds. His statements came following a report by <a href=\"https:\/\/bit.ly\/3WE6a9b\">Asharq Business<\/a> that the Sovereign Fund of Egypt (SFE) is putting the finishing touches to a plan to offer a 30% stake in the new company, which it says includes seven state-owned hotels, to Gulf funds and investors during the first quarter of the year.<\/p>\n<p><strong>We know the PIF has shown interest:<\/strong> Last year, Tawfik <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f1b5b942-ec9f-4815-8166-e7463ec8d661\">disclosed<\/a> that the Saudi sovereign wealth fund could acquire a 20% stake in the new company. The Public Investment Fund (PIF) was reported to be one of the most eager investors by Asharq yesterday.<\/p>\n<p><strong>This is part of the government\u2019s privatization strategy:<\/strong> Global economic headwinds have pushed the government to accelerate its privatization drive. It is aiming to attract USD 40 bn of fresh foreign investment into the country over the next four years under a new strategy finalized <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d041e1e1-1f9c-4271-8391-d6c3b10e965f\">at the end of last year<\/a>.<\/p>\n<p><strong>A TREND EMERGES- <\/strong>We\u2019re seeing plans to tender a number of big infrastructure, real estate and other large-scale projects <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2eb6d830-9f2e-4cfe-b2ab-45c8d46a218a\">pushed back<\/a> as private companies and the government run their figures again in the wake of the EGP float.<\/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\/pif\/\">PIF<\/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\/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=\"579122\" 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=\"579122\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/579122\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579122\" class=\"content-area-description single-story post-579122 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.57357.org\/en\/donation\/donation-ways\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/Moharram-Partners-57357-Web-ENG.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=\"579123\" 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=\"579123\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Education<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/badya-gems-school-set-for-2024-open\/\">\r\n                            Badya GEMS school set for 2024 open                        <\/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\/2023\/01\/25\/badya-gems-school-set-for-2024-open\/\" 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\/2023\/01\/25\/badya-gems-school-set-for-2024-open\/')\">\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\/2023\/01\/25\/badya-gems-school-set-for-2024-open\/\">\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=Badya GEMS school set for 2024 open&url=https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/badya-gems-school-set-for-2024-open\/\">\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\/2023\/01\/25\/badya-gems-school-set-for-2024-open\/&title=Badya GEMS school set for 2024 open\">\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=Badya+GEMS+school+set+for+2024+open+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F01%2F25%2Fbadya-gems-school-set-for-2024-open%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\/2023\/01\/25\/badya-gems-school-set-for-2024-open\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/446.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"579124\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/badya-gems-school-set-for-2024-open\/446-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/446.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"446.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/446.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/446.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579123\" class=\"content-area-description single-story post-579123 post type-post status-publish format-standard has-post-thumbnail hentry category-education tag-education tag-egypt-education-platform tag-enterpriseam tag-gems tag-palm-hills-developments tag-real-estate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>Palm Hill\u2019s Badya compound is getting a GEMS school from 2024:<\/strong> The Egypt Education Platform (EEP) will open a GEMS-branded British school in Palm Hills Developments\u2019 (PHD) Badya development in West Cairo, the real estate developer said in <a href=\"https:\/\/ent.news\/2023\/1\/Badya_GEMS_English-23.01.23.pdf\">a statement (<\/a><a href=\"https:\/\/ent.news\/2023\/1\/Badya_GEMS_English-23.01.23.pdf\">pdf<\/a><a href=\"https:\/\/ent.news\/2023\/1\/Badya_GEMS_English-23.01.23.pdf\">)<\/a> yesterday. The GEMS British International School of Badya will be the first international school in the compound and is slated to open in September 2024. EEP is an education management firm that counts EFG Hermes and the Sovereign Fund of Egypt among its anchor investors.<\/p>\n<p><strong>The players:<\/strong> GEMS Education is a regional education provider with a network of more than 60 schools across MENA. EEP is the rebranded GEMS Education Egypt; it has said it has 18 schools and nurseries with a combined capacity of 21k students \u201cat various stages of development.\u201d<\/p>\n<p><strong>Badya is growing:<\/strong> The company is ramping up construction spending with a focus on Badya after reporting <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3d1b393-af2f-4c7c-af04-4ea7bfee37ce\">record-high net income<\/a> in 9M 2022. New sales in Badya more than doubled y-o-y during the nine-month period, accounting for around a quarter of the company\u2019s total new sales, according to its <a href=\"https:\/\/ent.news\/2022\/11\/PalmHills9M2022earnings.pdf\">3Q 2022 earnings release (pdf)<\/a>. PHD bills Badya as the first sustainable city in Egypt and the first smart city \u201cin the heart of New October.\u201d<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-education-platform\/\">Egypt Education Platform<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gems\/\">GEMS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palm-hills-developments\/\">Palm Hills Developments<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"579125\" 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=\"579125\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/mckinseys-new-head-in-menap-mopcos-new-chair-md\/\">\r\n                            McKinsey\u2019s new head in MENAP + Mopco\u2019s new chair, MD                        <\/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\/2023\/01\/25\/mckinseys-new-head-in-menap-mopcos-new-chair-md\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Since joining the consultancy in 2004, Muzaffar <a href=\"https:\/\/www.mckinsey.com\/middle-east\/our-people\/hasan-muzaffar\">has advised<\/a> sovereign wealth funds, private-sector firms and conglomerates on strategy, portfolio management, and risk. He\u2019s <a href=\"https:\/\/www.consultancy-me.com\/news\/5647\/hasan-muzaffar-leads-mckinsey-in-middle-east-egypt-pakistan\">a member<\/a> of the firm\u2019s Global Institutional Investing & Public Finance practice.<\/p>\n<p><strong>Mopco gets a new chair, MD: <\/strong>The state-owned fertilizers producer has appointed Mohamed El Sayed Sobhy Mansour Amer its new chairman and managing director, according to a <a href=\"https:\/\/ent.news\/2023\/1\/MOPCO-bourse-disclosure.pdf\">disclosure<\/a> to the bourse. He replaces Hesham Nour El Dein, who was appointed acting chair and MD just <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f053ba7b-ae8c-4b6f-a111-71aef2bd802e\">last week<\/a> following the December departure of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/793d472e-0c31-4f91-aa72-9ee8f7733884\">Ibrahim Mahgoub<\/a>. Mahgoub now chairs the Egyptian Petrochemicals Holding Company (ECHEM).<\/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\/hasan-muzaffer\/\">Hasan Muzaffer<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mopco\/\">Mopco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"579127\" 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=\"579127\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/579127\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579127\" class=\"content-area-description single-story post-579127 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/:\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/2-SODIC-Polygon-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=\"579128\" 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=\"579128\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/indomania-industrial-incentives\/\">\r\n                            Indomania + industrial incentives                        <\/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\/2023\/01\/25\/indomania-industrial-incentives\/\" 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\/2023\/01\/25\/indomania-industrial-incentives\/')\">\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\/2023\/01\/25\/indomania-industrial-incentives\/\">\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=Indomania + industrial incentives&url=https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/indomania-industrial-incentives\/\">\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\/2023\/01\/25\/indomania-industrial-incentives\/&title=Indomania + industrial incentives\">\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=Indomania+%2B+industrial+incentives+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F01%2F25%2Findomania-industrial-incentives%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\/2023\/01\/25\/indomania-industrial-incentives\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/448.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"579129\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/indomania-industrial-incentives\/448-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/448.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"448.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/448.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/448.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579128\" class=\"content-area-description single-story post-579128 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-egypt-india-relations tag-enterpriseam tag-industrial-development-authority tag-last-nights-talk-shows tag-manufacturing wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Indomania on the airwaves: <\/strong>President Abdel Fattah El Sisi\u2019s arrival in India yesterday for a three-day visit dominated the airwaves last night, as the talking heads parsed the significance of El Sisi being the first Egyptian president to be honored as \u201cchief guest\u201d at celebrations to mark the country\u2019s 74th Republic day. The visit got coverage in Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=B-d7MRX6bb8\">watch, runtime: 3:55<\/a>) and Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=1iHGU2Wt1CA\">watch, runtime: 2:38<\/a>), with Radwan paying special attention to planned meetings between the Egyptian delegation and Indian businesses to discuss potential investments here.<\/p>\n<p><strong>We\u2019re India\u2019s plus-one for the G20, too:<\/strong> India\u2019s recent invitation to Egypt to <a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/1234\/480417\/Egypt\/Foreign-Affairs\/India-invites-Egypt-to-participate-in-G-meetings-i.aspx\">attend the 2023 meetings of the G20<\/a> as a guest country proves the strength of relations between the two countries, former Egyptian Assistant Foreign Minister Mohamed Abdel Hakeem told Salet El Tahreer\u2019s Azza Moustafa (<a href=\"https:\/\/www.youtube.com\/watch?v=S23au8kcCAo\">watch, runtime: 11:07<\/a>),<\/p>\n<p><strong>Industrial investors get a break from the IDA:<\/strong> The Industrial Development Authority (IDA) granted a 6-month extension to investors who have not been able to finish construction and obtain licenses for the factories they\u2019ve been allotted land for within the required three-year period, IDA head Mohamed Abdel Karim told Al Hayah Al Youm in a phone call (<a href=\"https:\/\/www.youtube.com\/watch?v=BskLQuLOnfY\">watch, runtime: 9:33<\/a>.) Those who\u2019ve already accumulated fines for missing the deadline will get a 50% cut, Abdel Karim added. The IDA recently granted more than 5.7K <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7f3d858e-3232-43cc-94b9-c3d26c9e267c\">operating licenses<\/a> to new industrial plants, he said, as part of the Trade Ministry's streamlined procedures to <a href=\"https:\/\/enterprise.press\/industries\/open-factory-egypt\/\">set up a factory in Egypt<\/a>.<\/p>\n<p><strong>AND- To the African Space Agency, and beyond: <\/strong>The African Union and the Higher Education Ministry yesterday inked an agreement officially establishing the headquarters of the African Space Agency in Egypt, Higher Education Minister Ayman Ashour told Masaa DMC\u2019s Radwan <a href=\"https:\/\/www.youtube.com\/watch?v=a2NCz8SycDg\">(watch, runtime: 2:27.)<\/a> The facility is part of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/05aed50a-0ff3-444a-80f5-748584c43063\">Egyptian Space Agency\u2019s<\/a> 123-acre Space City, which will also include a space academy, research center, and museum.<\/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\/egypt-india-relations\/\">Egypt-India relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industrial-development-authority\/\">Industrial Development Authority<\/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\/manufacturing\/\">Manufacturing<\/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=\"579130\" 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 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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            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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-iq8y796\" data-v=\"4\" data-block-id=\"iq8y796\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-iq8y796-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-iq8y796-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-3rlibtz\" data-v=\"4\" data-block-id=\"3rlibtz\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-3rlibtz-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-3rlibtz-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=\"579131\" 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=\"579131\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/its-all-archaeology\/\">\r\n                            It\u2019s all archaeology                        <\/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\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/449.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"579132\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/its-all-archaeology\/449-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/449.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"449.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/449.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/449.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579131\" class=\"content-area-description single-story post-579131 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-archaeology tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The mummies return: <\/strong>The international press is taking a break this morning from all the economy talk to catch us up on the latest in ancient Egyptian finds.<\/p>\n<p><strong>Golden Boy: <\/strong>More than 49 gold amulets were placed inside the body of a previously unexamined mummy, researchers led by Cairo University radiology professor Sahar Saleem used cutting-edge CT scan technology to reveal. The scans show that the embalmed corpse was a teenage boy from a rich family who may not have been Egyptian. The mummy is now on display at the Egyptian Museum, <a href=\"https:\/\/www.thenationalnews.com\/mena\/2023\/01\/24\/ct-scans-of-golden-boy-mummy-shed-light-on-2300-year-old-egyptian-find\/\">The National<\/a> writes. The story is everywhere in the international press, including <a href=\"https:\/\/www.thetimes.co.uk\/article\/mummy-scans-unwrap-egypts-4ft-golden-boy-after-2-000-years-jc3dv0dvs\">the Times<\/a>, <a href=\"https:\/\/www.independent.co.uk\/news\/science\/egypt-mummy-boy-buried-amulets-b2267986.html\">the Independent<\/a>, <a href=\"https:\/\/www.theguardian.com\/science\/2023\/jan\/24\/digital-scan-unwraps-secrets-of-mummy-from-2300-years-ago\">the Guardian<\/a>, <a href=\"https:\/\/www.yahoo.com\/news\/scans-reveal-secrets-egypts-mummified-183307406.html\">NBC<\/a>, and <a href=\"https:\/\/news.sky.com\/story\/ancient-egyptian-golden-boy-mummy-digitally-unwrapped-for-first-time-12794088\">Sky News<\/a>.<\/p>\n<p><strong>When Rome is in Luxor: <\/strong>Egyptian archaeologists have discovered a \u201ccomplete city from the Roman era\u201d in the city of Luxor, inclusive residential buildings, pigeon towers, and workshops, General of the Supreme Council of Antiquities Mostafa Waziri said in a Tourism Ministry <a href=\"https:\/\/www.facebook.com\/tourismandantiq\/posts\/pfbid0hcCroQHR67KuVEsYSYTZ1GnweNdf3vLLTkLT1aUcQsaKZiWT61kiVGfYjebRcH6Ul\">statement<\/a> picked up by <a href=\"https:\/\/www.france24.com\/en\/live-news\/20230124-egypt-archaeologists-uncover-complete-roman-city\">AFP<\/a>.<\/p>\n<p><strong>The UK gov\u2019t wants to keep hold of one of our artifacts: <\/strong>The British government is appealing to domestic buyers to purchase an ancient Egyptian limestone relief depicting women musicians, after putting a temporary bar on the artifact\u2019s export to an unknown country. For any interested parties among our UK-based readers, the relief will set you back GBP 69.3k, plus VAT. (<a href=\"https:\/\/www.gov.uk\/government\/news\/ancient-egyptian-limestone-relief-of-female-musicians-at-risk-of-leaving-uk\">Statement<\/a> | <a href=\"https:\/\/www.thenationalnews.com\/world\/uk-news\/2023\/01\/24\/uk-puts-last-minute-halt-on-export-of-ancient-egyptian-relief-in-bid-to-find-buyer\/\">The National<\/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\/archaeology\/\">archaeology<\/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=\"579133\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"579134\" 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=\"579134\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/a-new-hilton-hotel-in-marsa-alam\/\">\r\n                            A new Hilton hotel in Marsa Alam                        <\/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\/2023\/01\/25\/a-new-hilton-hotel-in-marsa-alam\/\" 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\/2023\/01\/25\/a-new-hilton-hotel-in-marsa-alam\/')\">\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\/2023\/01\/25\/a-new-hilton-hotel-in-marsa-alam\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=A new Hilton hotel in Marsa Alam&url=https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/a-new-hilton-hotel-in-marsa-alam\/\">\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\/2023\/01\/25\/a-new-hilton-hotel-in-marsa-alam\/&title=A new Hilton hotel in Marsa Alam\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=A+new+Hilton+hotel+in+Marsa+Alam+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F01%2F25%2Fa-new-hilton-hotel-in-marsa-alam%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\/2023\/01\/25\/a-new-hilton-hotel-in-marsa-alam\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/452.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"579135\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/a-new-hilton-hotel-in-marsa-alam\/452-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/452.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"452.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/452.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/452.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579134\" class=\"content-area-description single-story post-579134 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-capital-markets tag-cit tag-education tag-enterpriseam tag-national-telecom-regulatory-authority tag-telecom-egypt tag-tourism tag-visa tag-vodacom tag-vodafone-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>TOURISM-<\/strong><\/p>\n<p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a> <strong>Hilton expands its Red Sea portfolio:<\/strong> Hospitality giant Hilton has signed its second property in Marsa Alam: Hilton Marsa Wazar Red Sea Resort & Spa, according to a company <a href=\"https:\/\/ent.news\/2023\/1\/Hilton-Second-Property-EN.pdf\">press release (pdf)<\/a>. The property will be operated under the Hilton Hotels & Resorts brand in partnership with Boulevard for Tourism Development, and will feature 282 units ranging from rooms to private villas, two outdoor pools, an indoor spa pool, a spa and a gym. Hilton now operates 14 properties in Egypt \u2014 not including the new property \u2014 under the Hilton and Conrad brands, and has 11 more in the pipeline.<\/p>\n<p><i>CLARIFICATION-<strong>\u00a0<\/strong><\/i><br \/>\n<em>This story was amended on 25 January, 2023 to clarify that Hilton currently operates 14 properties in Egypt. The new property in Marsa Alam does not count towards the properties it currently operates, as it has not yet opened its doors.\u00a0<\/em><\/p>\n<p><strong>CAPITAL MARKETS-<\/strong><\/p>\n<p><strong>CLARIFICATION- Vodacom paid around EUR 18.71 per share to secure an <\/strong><strong>additional 0.02% (49.5k shares) of Vodafone Egypt<\/strong>, according to figures in a bourse <a href=\"https:\/\/ent.news\/2023\/1\/vodacom-bourse.png\">statement<\/a> disclosing that the transaction has been executed. We previously reported that Vodacom <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f7a530d3-8422-4fc2-8dcc-1ac36a67e812\">paid a lower price<\/a> of EUR 17.92 a piece, as per its<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52c31721-0af5-4bc6-ac05-eda6a6968157\">original offer<\/a>. It\u2019s not clear when the price was upped. The South African subsidiary of Vodafone Group had initially sought to purchase as much as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f7a530d3-8422-4fc2-8dcc-1ac36a67e812\">0.05% of the company<\/a> (124.6k shares) from minority shareholders in tandem with acquiring the parent company\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a27eb556-facb-488b-909d-51f3ed0dc9b6\">55% stake<\/a> in December.<\/p>\n<p><strong>EDUCATION-<\/strong><\/p>\n<p><strong>Visa + Injaz Egypt partner on financial literacy program for girls: <\/strong>Visa is launching two new programs aimed at improving girls\u2019 financial literacy alongside <a href=\"https:\/\/www.facebook.com\/InjazEgypt\/\">Injaz Egypt<\/a>, according to a <a href=\"https:\/\/ent.news\/2023\/1\/VISA-INJAZ-EN-1.pdf\">company press release (pdf)<\/a>. The programs will be launched in four vocational schools and aim to give girls aged 14 and above the financial skill set necessary to navigate the digital economy.<\/p>\n<p><strong>TELECOMS-<\/strong><\/p>\n<p><strong>TE wants more bandwidth:<\/strong> Telecom Egypt has applied to the National Telecommunications Regulatory Authority (NTRA) to acquire 5 MHz of new bandwidth in the 1800-MHz frequency band, <a href=\"https:\/\/www.alborsaanews.com\/2023\/01\/23\/1624232\">Al Borsa<\/a> quotes the head of the regulator, Hossam El Gamal, as saying. The NTRA will hold an auction in the event that more than one telecom operator bids for the spectrum, he said.<\/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\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-telecom-regulatory-authority\/\">National Telecom Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecom-egypt\/\">Telecom Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/visa\/\">Visa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vodacom\/\">Vodacom<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vodafone-egypt\/\">Vodafone Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"579140\" 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\/2023\/01\/25\/579140\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579140\" class=\"content-area-description single-story post-579140 post type-post status-publish format-standard hentry category-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><strong>JANUARY<\/strong><\/p>\n<p>January: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p>January: Infinity + Africa Finance Corporation to close acquisition of Lekela Power.<\/p>\n<p>25 January (Wednesday): 25 January revolution anniversary \/ Police Day.<\/p>\n<p>26 January-6 February (Thursday-Monday): Cairo International Book Fair, Egypt International Exhibition Center.<\/p>\n<p>26 January (Thursday): President El Sisi will visit India as <a href=\"https:\/\/www.mea.gov.in\/press-releases.htm?dtl\/35927\/Chief_Guest_at_Indias_Republic_Day_Celebrations_2023\">\u201cchief guest\u201d at celebrations<\/a> to mark the 74th anniversary of Indian independence.<\/p>\n<p>26 January (Thursday): National holiday in observance of 25 January revolution anniversary \/ Police Day.<\/p>\n<p>30 January-1 February (Monday-Wednesday): CI Capital\u2019s Annual MENA Investor Conference 2023, Cairo, Egypt.<\/p>\n<p>31 January (Tuesday): The IMF will release its World Economic Outlook Update.<\/p>\n<p>31 January (Tuesday): EBRD + EU + GCF will lay out their strategic plans to boost green finance in Egypt.<\/p>\n<p>31 January-1 February (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p><strong>FEBRUARY<\/strong><\/p>\n<p>1 February (Wednesday): Capricorn Energy will hold a vote on its merger with Israel\u2019s NewMed.<\/p>\n<p>1 February (Wednesday): OPEC will hold a joint ministerial monitoring committee meeting.<\/p>\n<p>2 February (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>5 February (Sunday): The Senate reconvenes.<\/p>\n<p>11 February (Saturday): Second semester of 2022-2023 academic year begins for public universities.<\/p>\n<p>13-15 February (Monday-Wednesday): The <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show (Egyps)<\/a>, Egypt International Exhibition Center, Cairo.<\/p>\n<p>23-27 February (Thursday-Monday): Annual Business Women of Egypt\u2019s Women for Success conference.<\/p>\n<p><strong>MARCH <\/strong><\/p>\n<p>March: 4Q2022 earnings season.<\/p>\n<p>23 March (Wednesday): First day of Ramadan (TBC). Maghreb will be at 6:08pm CLT.<\/p>\n<p>30 March (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>APRIL <\/strong><\/p>\n<p>April: GAFI<a href=\"https:\/\/www.alborsaanews.com\/2023\/01\/20\/1623257\">to launch<\/a> the country\u2019s first integrated electronic platform to facilitate setting up a business.<\/p>\n<p>1 April (Saturday): Deadline for banks to establish sustainability units.<\/p>\n<p>10-16 April (Monday-Sunday): IMF \/ World Bank Spring Meetings, Marrakesh, Morocco.<\/p>\n<p>16 April (Sunday): Coptic Easter<\/p>\n<p>17 April (Monday): Sham El Nessim.<\/p>\n<p>22 April (Saturday): Eid El Fitr (TBC).<\/p>\n<p>25 April (Tuesday): Sinai Liberation Day.<\/p>\n<p>27 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).<\/p>\n<p>30 April (Sunday): Deadline for self-employed to register for e-invoicing.<\/p>\n<p>30 April (Sunday): End of Mediterranean, Nile Delta oil + gas exploration tender.<\/p>\n<p>Late April \u2013 15 May: 1Q2023 earnings season.<\/p>\n<p><strong>MAY <\/strong><\/p>\n<p>1 May (Monday): Labor Day.<\/p>\n<p>4 May (Thursday): National holiday in observance of Labor Day (TBC).<\/p>\n<p>4 May (Thursday): <a href=\"https:\/\/www.ief.org\/events\/8th-ief-igu-ministerial-gas-forum\">IEF-IGU Ministerial Gas Forum<\/a>, Cairo.<\/p>\n<p>18 May (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>22-26 May (Monday-Friday): Egypt <a href=\"https:\/\/www.afdb.org\/en\/news-and-events\/press-releases\/african-development-bank-group-concludes-annual-meetings-governors-endorse-banks-vision-next-10-years-51974#:~:text=The new Board of Governors,from 22-26 May 2023.\">will host<\/a> the African Development Bank (AfDB) annual meetings in Sharm El Sheikh.<\/p>\n<p><strong>JUNE <\/strong><\/p>\n<p>10 June (Saturday): Thanaweya Amma examinations <a href=\"https:\/\/moe.gov.eg\/what-s-on\/news\/dates-for-the-exams\/\">begin<\/a>.<\/p>\n<p>19-21 June (Monday-Wednesday): Egypt Infrastructure and Water Expo <a href=\"https:\/\/ent.news\/2022\/9\/Announcement__EGYPT_INFRASTRUCTURE_AND_WATER_EXPO_LAUNCHES_JUNE_2023.pdf\">debuts<\/a> at the Egypt International Exhibition Center.<\/p>\n<p>22 June (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>28 June-2 July (Wednesday-Sunday): Eid El Adha (TBC).<\/p>\n<p>30 June (Friday): June 30 Revolution Day.<\/p>\n<p><strong>JULY <\/strong><\/p>\n<p>18 July (Tuesday): Islamic New Year.<\/p>\n<p>20 July (Thursday): National holiday in observance of Islamic New Year (TBC).<\/p>\n<p>23 July (Sunday): Revolution Day.<\/p>\n<p>27 July (Thursday): National holiday in observance of Revolution Day.<\/p>\n<p>Late July-14 August: 2Q2023 earnings season.<\/p>\n<p><strong>AUGUST <\/strong><\/p>\n<p>3 August (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>SEPTEMBER <\/strong><\/p>\n<p>21 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>26 September (Tuesday): Prophet Muhammad\u2019s birthday (TBC).<\/p>\n<p>28 September (Thursday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/p>\n<p><strong>OCTOBER <\/strong><\/p>\n<p>6 October (Friday): Armed Forces Day.<\/p>\n<p>Late October-14 November: 3Q2023 earnings season.<\/p>\n<p><strong>NOVEMBER <\/strong><\/p>\n<p>2 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>DECEMBER <\/strong><\/p>\n<p>21 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>EVENTS WITH NO SET DATE <\/strong><\/p>\n<p>2023: The inauguration of the Grand Egyptian Museum.<\/p>\n<p>2023: Egypt <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/380561820780911\">will host<\/a> the Asian Infrastructure Investment Bank\u2019s Annual Meeting of the Board of Governors in 2023.<\/p>\n<p>1Q 2023: Adnoc Distribution\u2019s acquisition of 50% of TotalEnergies Egypt to close.<\/p>\n<p>1Q 2023: Egypt + Qatar to launch joint business forum.<\/p>\n<p>1Q 2023: FRA to introduce <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/677d7076-0142-4ba8-9bee-b1d82926f380\">new rules<\/a> for short selling.<\/p>\n<p>1Q 2023: Internal trade database to <a href=\"https:\/\/hapijournal.com\/?p=212185\">launch<\/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","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":579108,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-579107","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"5ba9451b-2289-463d-a5af-0b2841d74f6c","teaser":"","photo_url":"https:\/\/ent.news\/2023\/1\/437.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>Investments + M&amp;A in our healthcare and pharma sectors - 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\/investments-ma-in-our-healthcare-and-pharma-sectors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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