{"id":618965,"date":"2024-04-23T00:00:00","date_gmt":"2024-04-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=618965"},"modified":"2025-12-17T05:19:05","modified_gmt":"2025-12-17T05:19:05","slug":"state-to-offload-entire-alamal-alsharif-stake-within-weeks","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/state-to-offload-entire-alamal-alsharif-stake-within-weeks\/","title":{"rendered":"State to offload entire Alamal Alsharif stake within weeks"},"content":{"rendered":"<section id=\"618967\" 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=\"618967\">\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\/2024\/04\/23\/uk-to-channel-usd-400-mn-in-budget-support\/\">\r\n                            UK to channel USD 400 mn in budget support?                        <\/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\/2024\/04\/23\/uk-to-channel-usd-400-mn-in-budget-support\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/uk-to-channel-usd-400-mn-in-budget-support\/2165-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2165.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2165.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2165.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2165.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618967\" class=\"content-area-description single-story post-618967 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-economy tag-egypt-uk-relations tag-enterpriseam 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<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.771acd4f-13b9-4cc5-9260-899ce9e2b3db.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends. <\/strong>We\u2019ve got a packed issue for you today, with news that the government is set to offload its entire stake in Alamar Alsharif Plastics within weeks, LNG imports ramping up even further ahead of summer, and news that yet another Chinese company is gearing up for a pretty substantial manufacturing investment.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>And on the topic of Egypt-bound investment coming from abroad, <\/strong>foreign investors we speak with (debt, equity, and strategic alike) have a growing appetite for Egypt. They\u2019re buying into local debt, eyeing promising shares, and committing bns of USD to both new ventures here and the growth of their existing businesses. They like the Egypt story that\u2019s taking shape after the float of the EGP, and our competitive advantages are clear to many of them: <strong>We\u2019re a massive consumer opportunity and the regional export hub of tomorrow.<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2026but here at home, our community is in a rut.<\/strong> The enthusiasm gap between domestic business leaders and global investors is stark. <\/p><p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><strong>We\u2019d all do well to remember: It\u2019s a chicken-and-egg kind of thing. <\/strong>Foreign strategic investors will be reluctant to commit capital here until they see Egyptian businesses leading the way.<\/p><p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><strong>The Enterprise Optimism Forum 2024 will do exactly what it says on the tin: <\/strong>Spark conversations about a future that we think is much brighter than so many in our community feel right now. Think of it as much-needed shock therapy combined with an early, actionable roadmap for those of us who are \u201clong Egypt.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><strong>We\u2019ll be talking with you about the agenda over the coming couple of weeks.\u00a0<\/strong>It features speakers from Egypt and abroad who are future-proofing their businesses and angling to capture tomorrow\u2019s opportunities \u2014 and who aren\u2019t afraid to answer some tough questions. <\/p><p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><strong>*** Interested in attending?<\/strong><strong><a target=\"_blank\" href=\"https:\/\/optimism.enterprise.news\/\" style=\"\" rel=\"noopener\">Tap or click here<\/a><\/strong><strong> to let us know.<\/strong> Seating is limited. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/optimism.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/221.jpg?ssl=1\"><\/a> <\/p><p class=\"tag-border-left\">WATCH THIS SPACE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- We could be in line for some USD 400 mn from the UK: <\/strong>Egypt could see USD 400 mn in budget support from the UK over the next two years, with the first USD 200 mn expected to be dispersed in tandem with USD 500 mn in budget financing from the World Bank by July, International Cooperation Minister Rania Al Mashat told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-22\/egypt-to-get-uk-budget-support-to-top-off-57-billion-global-aid?srnd=middle-east-politics\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The World Bank funds are part of a wider three-year <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/19bac262-1a66-4b6e-af15-3fd23f52c1e2\" style=\"\" rel=\"noopener\">USD 6 bn financing package<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The second tranche: <\/strong>A second payment of USD 200 mn from the UK and USD 500 mn from the World Bank will be disbursed in the next fiscal year.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pending approval: <\/strong>The funds will land in the nation\u2019s coffers after the House gives its greenlight, Al Mashat said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More to come? <\/strong>The International Cooperation Ministry is also looking to secure funds from theAsian Infrastructure Investment Bank and may soon begin talks with the bank over budget support, Al Mashat added. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#2- Hedge funds could be coming to Egypt soon: <\/strong>The Financial Regulatory Authority(FRA) has passed on proposed amendments to the Capital Market Act to the cabinet that would lay the groundwork for the launch of hedge funds on the EGX, FRA chair Mohamed Farid said, according to an FRA <a target=\"_blank\" href=\"https:\/\/fra.gov.eg\/fra_news\/%d8%a7%d9%84%d8%af%d9%83%d8%aa%d9%88%d8%b1-%d9%85%d8%ad%d9%85%d8%af-%d9%81%d8%b1%d9%8a%d8%af-%d8%b1%d8%a6%d9%8a%d8%b3-%d9%87%d9%8a%d8%a6%d8%a9-%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84-5\/\" style=\"\" rel=\"noopener\">statement<\/a> yesterday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Digitization, robo advisors are also on the FRA\u2019s priority list: <\/strong>The authority is also seeking to digitize non-banking financial transactions and introduce licenses allowing virtual advisors \u2014 known as robo-advisors \u2014 to manage investment portfolios, Farid said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Robo-what?<\/strong> The AI-powered financial advisors assess customers' risk appetite and make stock recommendations accordingly. While the FRA sees AI as an \u201cintegral part\u201d of its digitalization strategy, its adoption would require certain regulations in place, Farid added.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Africa\u2019s largest early-stage VC fund is looking with interest on Egyptian tech\u00a0<\/strong><strong>startups: <\/strong><a target=\"_blank\" href=\"https:\/\/tlcomcapital.com\/\" style=\"\" rel=\"noopener\">TLCom Capital<\/a>, the largest seed and series A venture capital firm on the continent, is moving forward with plans to expand further into Egypt after the company raised USD 154 mn for its tech-focused fund with investments from the Visa Foundation, European Investment Bank, and Allianz SE, according to a <a target=\"_blank\" href=\"https:\/\/tlcomcapital.com\/blog\/tlcom-closes-africas-largest-early-stage-vc-fund-at-154-million\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cWe\u2019re [...] excited to spend more time in the Egyptian ecosystem<\/strong>, co-investing alongside the most active local funds,\u201d said Maurizio Caio, the company\u2019s founder and managing partner.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story caught the attention of the int\u2019l press:\u00a0<\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-22\/tlcom-capital-africa-s-largest-early-stage-vc-fund-raises-154-million\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/017f13b8-4319-47e3-846b-b5d4b292af07\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/62920\/%D8%AA%D9%8A-%D8%A5%D9%84-%D9%83%D9%88%D9%85-%D9%84%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D8%A7%D9%84%D8%AC%D8%B1%D9%8A%D8%A1-%D8%AA%D8%AC%D9%85%D8%B9-154-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%84%D8%AA%D9%85%D9%88%D9%8A%D9%84-%D8%A7%D9%84%D8%AA%D9%88%D8%B3%D8%B9-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1\/\" style=\"\" rel=\"noopener\">Asharq<\/a><a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/62920\/%D8%AA%D9%8A-%D8%A5%D9%84-%D9%83%D9%88%D9%85-%D9%84%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D8%A7%D9%84%D8%AC%D8%B1%D9%8A%D8%A1-%D8%AA%D8%AC%D9%85%D8%B9-154-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%84%D8%AA%D9%85%D9%88%D9%8A%D9%84-%D8%A7%D9%84%D8%AA%D9%88%D8%B3%D8%B9-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1\/\" style=\"\" rel=\"noopener\">Business<\/a> <\/p><p class=\"tag-border-left\">PSA-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>There\u2019s never been a better time to quit smoking: <\/strong>Cigarette giant PhilipMorris has hiked the price of cigarettes for the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/140335a3-5325-4ae7-9083-b6a88d0fbbdd\" style=\"\" rel=\"noopener\">second time<\/a> this year, raising prices by up to 8%, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1557.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from the company. The price of a pack of Merit has risen 6% to EGP 90, while its L&amp;M brand is up 8% and now goes for EGP 64 a pack. Smokers of Marlboro will have to dish out 6-7% more with standard pack now going for EGP 84 and a pack of Crafted Marlboro being sold for EGP 74. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The government gave tobacco distributors the green light to hike their prices by up to 12% <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b8b0866c-babb-4bf4-98db-de2461de0411\" style=\"\" rel=\"noopener\">earlier this month<\/a>.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- Summer has well and truly<\/strong><strong> arrived in Cairo early today<\/strong>, with temperatures jumping up to a high of 38\u00b0C and a low of 26\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our friends in Alexandria are also for a scorchio day<\/strong>, with a high of 37\u00b0C and a low of 25\u00b0C.<\/p><p class=\"tag-border-left\">HAPPENING TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A chance to hear how AI is reshaping business:<\/strong> The British Egyptian Business Association is hosting a panel discussion on the challenges and potential of AI with Communications Minister Amr Talaat offering the keynote address today at the Conrad Cairo Hotel. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Taking to the stage for the panel discussion<\/strong> will be IBM Egypt General Manager Marwa Abbas, MP Sahar Al Bazar, British University in Egypt provost Guy Daly, Sequence Ventures CEO Mohamed Fahmy, and Falak Startups\u2019 head of venture growth Tarek Seif El Nasr, with by N Gage Consulting Chairman Karim Refaat as moderator. Find out more about how to register for the event <a target=\"_blank\" href=\"https:\/\/beba.org.eg\/events\/a-panel-discussion-entitled-the-new-era-of-artificial-intelligence-challenges-opportunities\/\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p class=\"tag-border-left\">IN THE HOUSE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Next year\u2019s draft state budget and develop<\/strong><strong>ment plan is on the agenda (again):<\/strong>Finance Minister Mohamed Maait and Planning Minister Hala El Said will be giving statements on the draft state budget and development plan for FY 2024-25 in the House today, after having originally been penciled in for yesterday. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>The unexplained delay has added fuel to the fire of cabinet shuffle rumors:<\/strong> The statements of Maait and El Said were delayed by a day, leading to murmurs in parliament that a cabinet shake-up is imminent. But others have pointed out more sensibly that this is probably just because of the two having just returned from a busy week in Washington for the IMF and World Bank\u2019s spring meetup.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The new Unified Ins. law is set to get the go-ahead:<\/strong> House representatives are due to take a final vote on the new government-drafted Unified Ins. law that aims to draw up new and comprehensive rules for regulating the ins. industry and widen compulsory ins. coverage, after discussing and preliminarily approving the bill <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/317bf16c-ec16-489f-ac56-05ad40a04693\" style=\"\" rel=\"noopener\">yesterday<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The FRA will be responsible for licensing companies:<\/strong> The House has given the Financial Regulatory Authority the power to license and supervise foreign ins. and reins. companies in Egypt. The offices of these companies in Egypt will be put under the supervision and monitoring of the FRA.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong>MPs will discuss and vote on a USD 9 mn grant agreement with the World Bank aimed at improving the management of electronic and health waste and a top-up to a USAID grant aimed at supporting rural and agricultural development and achieve food self-sufficiency \u2014 the top-up will push the grant to USD 138.8 mn up from USD 124.9 mn.<\/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\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/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 target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The annual <\/strong><strong><a target=\"_blank\" href=\"https:\/\/summit.startupswb.com\/\" style=\"\" rel=\"noopener\">Startups Without Borders Summit<\/a><\/strong><strong> will kick off in less than a month<\/strong>,<strong>\u00a0<\/strong>bringing together more than 3k innovators and investors, VCs and accelerators from the UK, Japan, the US, Senegal, Kuwait, and Saudi Arabia, a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1525.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a> said. Under the theme Break Borders, Build Global Horizons, the summit aims to help entrepreneurs build businesses on a global scale. Participants can attend talks and workshops, while US-based <a target=\"_blank\" href=\"https:\/\/www.blitzscalingvc.com\/\" style=\"\" rel=\"noopener\">VC Blitzscaling<\/a><a target=\"_blank\" href=\"https:\/\/www.blitzscalingvc.com\/\" style=\"\" rel=\"noopener\">Ventures<\/a> will launch its AI Salon. The summit will take place on 10-11 May at <a target=\"_blank\" href=\"https:\/\/www.kamelizerspaces.com\/\" style=\"\" rel=\"noopener\">Kamelizer Spaces<\/a> in New Katameya\u2019s District 5 \u2014 register for the event <a target=\"_blank\" href=\"https:\/\/summit.startupswb.com\/#buy-tickets\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">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=\"tag-border-left\">THE BIG STORY ABROAD-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a pleasantly slow morning in the international business press.<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yesterday saw opening arguments in <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2024\/04\/22\/trump-hush-money-trial-gag-order-contempt-00153154\" style=\"\" rel=\"noopener\">Donald Trump\u2019s criminal hush-money trial<\/a><\/strong> \u2014 today will see prosecutors argue that The Donald is also in contempt of court for refusing to abide by a gag order against attacking prosecutors, jury members, and witnesses.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not a great time to be in professional services: <\/strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/pwc-looks-to-shrinknewu-s-consulting-partner-class-by-more-than-50-150a3388?mod=business_feat2_c-suite_pos1\" style=\"\" rel=\"noopener\">PwC is looking to cut<\/a> in half (compared to last year) the number of people it makes partners in the United States. Blame slowing demand for advisory services. McKinsey, meanwhile, is at the forefront of a movement among big consulting firms to cull underperformers. A <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/8c3679c4-b34a-41d0-93c9-af96ea6f90e2\" style=\"\" rel=\"noopener\">\u201cbrutal round of career reviews\u201d<\/a> is now in process at the high-flying firm.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The noise about tech stocks is about to go to 11: <\/strong>Tesla reports its 1Q earnings today, Meta follows suit tomorrow, while Google parent Alphabet and Microsoft both release on Thursday. They\u2019re all filing financials after a rough couple of weeks for tech stocks in New York.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US colleges are having a moment <\/strong>as student protests of Israel\u2019s war against Gaza (and US backing for it) continues to grow. Alexandria-born Columbia President Dame Minouche Shafik has suspended in-person classes to allow a cooling off period after she sent police to arrest over 100 protestors. Police have separately arrested over 50 protesters at Yale and Harvard is closing campus gates to non-students. Activists have organized \u201ctent cities\u201d at all three. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ENTERPRISE IS LOOKING FOR SMART, TALENTED PEOPLE of all backgrounds to help us build some very cool new things.<\/strong> Enterprise \u2014 the essential morning read on all the important news shaping business and the economy in Egypt and the region \u2014 is looking for writers, reporters and editors to help us build out new publications. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>NEVER WORKED IN A NEWSROOM BEFORE?<\/strong> We have the Enterprise Business Writing Development Program. Whether you are a recent graduate, an industry vet, or looking to switch careers, the Enterprise Business Writing Development Program will give you the tools you need to tell the most important stories to our audience of C-suite officials, government ministers, diplomats, financiers, investors and entrepreneurs.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not an internship program \u2014 a career:<\/strong> The three-month program will see full-time, paid participants take part in workshops and lectures from veteran business journalists on subject matter knowledge, while also working on constructing and filing Enterprise stories that will run on any of our publications. Those who have successfully completed the program, will then be given long-term job offers.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Apply directly to jobs@enterprisemea.com and mention \u201cwriting development program\u201d<\/strong> in your subject line.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2021\/03\/INFINITY-Top-banner-EN-1600x675-v2-02.png\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We take a look into why despite considerable government support for the small-scale solar system market, few Egyptian households are investing in the alternative energy sources due to high costs, urban issues, and financing challenges.<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-uk-relations\/\">Egypt-UK relations<\/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=\"618969 advertiser\" class=\"issue-section enterprise-adv\">\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=\"618969\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/618969\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618969\" class=\"content-area-description single-story post-618969 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1171.png?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"\">Discover your dream getaway with our signature collection of vacation homes and let our expert<\/span><span style=\"font-weight:400;\"> team craft your perfect holiday experience.<\/span><\/p>\n<\/div>\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=\"618970\" 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=\"618970\">\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\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/govt-to-offload-its-46-6-stake-in-state-owned-plastic-maker-alamal-alsharif-within-weeks\/\">\r\n                            Egyptian government plans to sell its entire 46.6% stake in state-owned Alamal Alsharif within weeks                        <\/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\" 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    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/govt-to-offload-its-46-6-stake-in-state-owned-plastic-maker-alamal-alsharif-within-weeks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1551.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"618971\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/govt-to-offload-its-46-6-stake-in-state-owned-plastic-maker-alamal-alsharif-within-weeks\/1551-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1551.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1551.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1551.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1551.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618970\" class=\"content-area-description single-story post-618970 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch tag-alamal-alsharif-plastics tag-enterpriseam tag-privatization-watch tag-state-privatization-program wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.6e07012a-988a-45d2-84fd-eb1d68cc84fd.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Alamal Alsharif Plastics stake sale within weeks? <\/strong>The Madbouly government ispreparing to fully exit state-owned plastics manufacturer <a target=\"_blank\" href=\"https:\/\/www.alamalalsharif.com\/\" style=\"\" rel=\"noopener\">Alamal Alsharif Plastics<\/a>, selling its entire 46.6% stake within weeks, <a target=\"_blank\" href=\"https:\/\/hapijournal.com\/2024\/04\/21\/%d8%a7%d9%84%d8%ad%d9%83%d9%88%d9%85%d8%a9-%d8%aa%d8%a8%d8%af%d8%a3-%d8%a5%d8%ac%d8%b1%d8%a7%d8%a1%d8%a7%d8%aa-%d8%b7%d8%b1%d8%ad-%d8%a7%d9%84%d8%a3%d9%85%d9%84-%d8%a7%d9%84%d8%b4%d8%b1%d9%8a%d9%81\/\" style=\"\" rel=\"noopener\">Hapi Journal<\/a> reports. The government wants to sell its stake to a strategic investor paying in USD. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another state asset sale ticked off the list:<\/strong> Alamal Alsharif is one of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8a0da43-f922-4a49-b3a9-839f397f8ce4\" style=\"\" rel=\"noopener\">35<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8a0da43-f922-4a49-b3a9-839f397f8ce4\" style=\"\" rel=\"noopener\">state-owned assets<\/a> earmarked for privatization.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sale managers appointed? <\/strong>The government has reportedly tapped investment banks EFGHermes and Al Ahly Pharos to manage the sale. The two banks will wrap up their evaluation of the company and start promoting the stake to investors in the coming days, according to the outlet. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The gov\u2019t is offering up a bigger stake than expected:<\/strong> Late last year, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ca6bebdc-6bf4-4ffc-a8d6-bca802259668\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ca6bebdc-6bf4-4ffc-a8d6-bca802259668\/\" style=\"\" rel=\"noopener\">quoted<\/a> two unnamed government sources saying that the government is looking to sell a 30% stake in the plastics maker to a strategic investor by 1Q 2024. The sources valued the company at that time at some EGP 7 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who owns what?<\/strong> Some 46.6% of Alamal Alsharif is held by state-owned banks including the National Investment Bank (with a 29.5% stake), the National Bank of Egypt (11.3%), United Bank (5.3%), and Suez Canal Bank (0.5%), according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/www.alamalalsharif.com\/capital-structure\/#:~:text=Alamal%20Alsharif%20Plastics%20is%20an,)%20157.541%20shares%20with%205.25%25.\" style=\"\" rel=\"noopener\">website<\/a>. The remaining 53% is held by unnamed individual shareholders.<\/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\/alamal-alsharif-plastics\/\">Alamal Alsharif Plastics<\/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\/state-privatization-program\/\">state privatization program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"618972\" 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=\"618972\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/egypt-wants-to-import-three-shipments-of-lng-a-month-during-the-summer\/\">\r\n                            Egypt wants to import three shipments of LNG a month during the summer                        <\/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\/2024\/04\/23\/egypt-wants-to-import-three-shipments-of-lng-a-month-during-the-summer\/\" 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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font-family: sans-serif; font-size: 16px; background-color: transparent;\">A separate story from Reuters reports that the country is expected to import up to 20 shipments during spring and summer, citing three unnamed industry and trading sources.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> \u201cEach LNG shipment amounts to 3 tn British thermal units, which provides on average 100 mn cubic feet of natural gas per day to power stations for ten days,\u201d the source said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>Planned power outages returned last week following Ramadan and the Eid Al Fitr break, with the lights going out for two hours a day in some areas of the country. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Two shipments already secured:<\/strong> The government has purchased at least two shipments ofLNG due to be delivered next month, an Oil Ministry source previously <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/625cba2a-fe2a-4310-abfb-4185dbf0ff2f\" style=\"\" rel=\"noopener\">told Enterprise<\/a>. The shipments will be regasified at a floating unit in Jordan\u2019s Aqaba under an agreement between the two sides.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And we could have our own regasification unit again soon: <\/strong>The government is currently in talks to lease a floating regasification unit from Norway\u2019s BW Energy for five years, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7969a1e1-5fa4-4a4a-af73-74de094fd945\" style=\"\" rel=\"noopener\">unconfirmed media reports<\/a> said last week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The Oil Ministry is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/317bf16c-ec16-489f-ac56-05ad40a04693\" style=\"\" rel=\"noopener\">reportedly stopping<\/a> all LNG exports to European markets starting from next month on the back of increased domestic demand coupled with a downturn in domestic production.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/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=\"618974\" 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=\"618974\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/chinese-steel-manufacturer-to-set-up-usd-297-mn-plant-in-sokhna-industrial-zone\/\">\r\n                            Chinese steel producer to set up USD 297 mn plant in Egypt\u2019s Sokhna Industrial Zone                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta 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data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1585.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1585.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1585.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618974\" class=\"content-area-description single-story post-618974 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-china tag-enterpriseam tag-investment-watch tag-suez-canal-economic-zone wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.91745635-908a-4e34-af9a-2c3f0110690c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Another Chinese manufacturing project headed to the SCZone:<\/strong> Chinese steel maker Wu\u2019an Xin Feng will set up a USD 297 mn hot-rolled steel coils plant in the Sokhna Industrial Zone after the Suez Canal Economic Zone (SCZone) allocated the steel maker a 750k sqm land plot to house the plant under an usufruct agreement yesterday, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid013xx1LdfkCmhFYeuE5fGTqmo8amLmH6m6cboZ3izKTAcH3YDt3syQ5t2jJPJCVivl\" style=\"\" rel=\"noopener\">statement<\/a> from the SCZone.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The factory will earmark 70% of its output to exports and will create 1.2k jobs. The plant will start producing vehicle engine blocks at a later stage.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A successful roadshow:<\/strong> The project stems from an SCZone delegation\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/04dda22d-b376-4d76-bf9a-50f917a5ac39\" style=\"\" rel=\"noopener\">visit to China<\/a> in May, where CEO Walid Gamal El Din and his accompanying delegation met with a number of Chinese business leaders and investors in an effort to drum up Egypt-bound investments. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s been a good month for Chinese investments: <\/strong>Last week, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9760dea3-6012-468a-a90a-8c19bab38e71\" style=\"\" rel=\"noopener\">Egypt inked 14 agreements<\/a> with Chinese companies to set up projects alongside our local private sector, including a USD 800 mn fiberglass and polyester plant and a power generation center.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Chinese investment in perspective: <\/strong>Chinese companies made up 40% out of the total investment pledges into the SCZone during the first nine months of the current fiscal year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Even more to come?<\/strong> The General Authority for Freezones and Investments (GAFI) Head Hossam Heiba yesterday sat down with a delegation from the Chinese government to discuss ways to bring in more Chinese investments into the planned freezone in the New Alamein City, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/GAFIEG\/posts\/pfbid02gS6RL9ew1FRYHy1boCzEd99s5696xSYbd4QYRppt8ekBGV23bX22SYFEdPKbf3xMl\" style=\"\" rel=\"noopener\">GAFI statement<\/a>. Heiba assured the Chinese officials that the authority is currently building more freezones and working to drum up investments so that the zones are operational upon completion.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What to watch for: <\/strong>The Chinese side expressed its interest in investing in EV manufacturing, construction materials, and petrochemicals. <\/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\/china\/\">China<\/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\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/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=\"618976\" 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=\"618976\">\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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/evolve-to-launch-the-countrys-third-gold-investment-fund-in-may\/\">\r\n                            Evolve to launch Egypt\u2019s third gold investment fund in May                        <\/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\/2024\/04\/23\/evolve-to-launch-the-countrys-third-gold-investment-fund-in-may\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The company has already delivered the prospectus for the new fund to the Financial Regulatory Authority (FRA), El Torgoman added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a joint venture:<\/strong> The fund will be launched in partnership with asset manager Al AhlyPharos \u2014 the investment banking arm of the National Bank of Egypt\u2019s Al Ahly Capital Holding \u2014 El Torgoman said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We knew this was coming:<\/strong> It first came to light back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8eba25dd-53e9-4273-bd8e-6e1afb5b2f99\" style=\"\" rel=\"noopener\">February<\/a> that Evolve would launch its third gold fund in 1H 2024 and the FRA last week <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f2bc9004-b5ab-4609-9df1-4c6aa863eca3\" style=\"\" rel=\"noopener\">announced<\/a> that a subsidiary of the NBE is applying to set up another gold investment fund in Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The company launched the country\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/373fda24-6907-4c8b-bb56-623da5e5a367\" style=\"\" rel=\"noopener\">first gold fund<\/a> with Azimut in May 2023 and launched <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bc6a409f-edea-4ac4-ae40-a12a4d621c23\" style=\"\" rel=\"noopener\">another<\/a> \u2014 dubbed Beltone Evolve Gold \u2014 with Beltone Asset Management in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bc6a409f-edea-4ac4-ae40-a12a4d621c23\" style=\"\" rel=\"noopener\">January<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers:<\/strong> Since their launch, the two gold funds have reeled in about EGP 1 bn in investments from nearly 120k clients, <a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1782393926831288388\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports El Torgoman as saying. In the local gold market as a whole, \u201cEgyptians bought 60 tons of gold last year. This placed Egypt in third place in the Middle East, and first in the Arab world, in terms of purchasing gold last year,\u201d El Torgoman told Lamis El Hadidi on Kelma Akhira last night (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=zR07BnJbPSc\" style=\"\" rel=\"noopener\">watch, runtime: 25:17<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Silver fund in the works?<\/strong> Evolve also plans to launch the country\u2019s first silver-backed investment fund in 2H 2024, <a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1782378824958636079\" style=\"\" rel=\"noopener\">Asharq Business<\/a> quotes El Torgoman as saying. The outlet had reported last month that Azimut <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/490cdbcf-937b-4b6d-9ce9-9eb0ce115145\" style=\"\" rel=\"noopener\">plans to launch<\/a> a silver-backed fund with initial investments of EGP 150-200 mn.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evolve-investment-holding\/\">Evolve Investment Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gold\/\">gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"618978\" 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=\"618978\">\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\">A MESSAGE FROM VISA<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/leading-with-purpose-jeni-mundys-blueprint-for-high-performing-teams\/\">\r\n                            Leading with purpose: Jeni Mundy\u2019s blueprint for high-performing teams                        <\/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\/2024\/04\/23\/leading-with-purpose-jeni-mundys-blueprint-for-high-performing-teams\/\" 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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What you can achieve with a bunch of people when you are very deliberate about becoming a high-performance team is immense. Just because no one who looks like you has ever done it before, doesn\u2019t mean you can\u2019t. These are the lessons that I\u2019ve carried with me throughout my career.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>True leadership is about fostering collaborative environments where teams thrive on<\/strong><strong> diversity, shared purpose, and mutual respect.<\/strong> My approach to team building diverges from traditional hierarchies; instead, I view teams as unified entities where leadership is distributed, and every member's strength is maximized.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I prioritize diversity in all its forms <\/strong>\u2014 gender, background, and career stage. I firmly believe that a diverse team brings a wealth of perspectives and experiences to the table, driving innovation and creativity. By embracing diversity, we create a more inclusive and dynamic work environment where every voice is heard and valued.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We are only as good as the people around us <\/strong>\u2014 Building a high-performing team requires trust, support, and a shared sense of purpose with a healthy dose of fun. We do some serious stuff in life, but we don\u2019t need to take ourselves too seriously. Effective leaders should provide equal measures of challenge and support.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When selecting team members, I look for more than just technical skills \u2014 I seek<\/strong><strong> individuals who align with our core values and purpose.<\/strong> Personal accountability is non-negotiable. I want team members who are committed to excellence and willing to go above and beyond to achieve our goals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>People remember you when you are different. <\/strong>Authenticity and self-awareness are key. By staying true to myself and consistently demonstrating our values, I earn the trust and respect of my team, fostering a culture of openness and collaboration.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The most important thing about strategy is not keeping it a secret.<\/strong> I involve the entire team in the strategic planning process, soliciting their input and insights. After all, a well-crafted strategy is meaningless without effective execution, and that requires buy-in and commitment from everyone involved.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My leadership philosophy is rooted in the belief that success transcends financial<\/strong><strong> achievements <\/strong>\u2014 it's about effecting positive change in the world. By prioritizing diversity, trust, and social impact, my aim is to cultivate teams that are not merely high-performing, but also driven by a profound sense of purpose.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Jeni Mundy, Global SVP Merchant &amp; Acquiring at Visa (<a target=\"_blank\" href=\"https:\/\/uk.linkedin.com\/in\/jenimundy\" style=\"\" rel=\"noopener\">LinkedIn<\/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\/visa\/\">Visa<\/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=\"618980\" 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=\"618980\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/local-fintech-startup-bokra-raises-usd-4-6-mn-in-pre-seed-funding-plus-waffarha-closes-seven-figure-seed-round\/\">\r\n                            Egyptian fintech startup Bokra raises USD 4.6 mn in pre-seed funding. PLUS: Waffarha closes seven figure seed round                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/local-fintech-startup-bokra-raises-usd-4-6-mn-in-pre-seed-funding-plus-waffarha-closes-seven-figure-seed-round\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/local-fintech-startup-bokra-raises-usd-4-6-mn-in-pre-seed-funding-plus-waffarha-closes-seven-figure-seed-round\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/local-fintech-startup-bokra-raises-usd-4-6-mn-in-pre-seed-funding-plus-waffarha-closes-seven-figure-seed-round\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Local fintech startup Bokra raises USD 4.6 mn in pre-seed funding. PLUS: Waffarha closes seven figure seed round&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/local-fintech-startup-bokra-raises-usd-4-6-mn-in-pre-seed-funding-plus-waffarha-closes-seven-figure-seed-round\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/local-fintech-startup-bokra-raises-usd-4-6-mn-in-pre-seed-funding-plus-waffarha-closes-seven-figure-seed-round\/&title=Local fintech startup Bokra raises USD 4.6 mn in pre-seed funding. PLUS: Waffarha closes seven figure seed round\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Local+fintech+startup+Bokra+raises+USD+4.6+mn+in+pre-seed+funding.+PLUS%3A+Waffarha+closes+seven+figure+seed+round+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F04%2F23%2Flocal-fintech-startup-bokra-raises-usd-4-6-mn-in-pre-seed-funding-plus-waffarha-closes-seven-figure-seed-round%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/local-fintech-startup-bokra-raises-usd-4-6-mn-in-pre-seed-funding-plus-waffarha-closes-seven-figure-seed-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1543.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"618981\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/local-fintech-startup-bokra-raises-usd-4-6-mn-in-pre-seed-funding-plus-waffarha-closes-seven-figure-seed-round\/1543-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1543.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1543.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1543.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1543.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618980\" class=\"content-area-description single-story post-618980 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam tag-fintech tag-startup-watch tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.1dfa338d-f014-47fb-9683-6847d5e5aae9.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Cairo-based fintech startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bokra.com\/\" style=\"\" rel=\"noopener\">Bokra<\/a><\/strong><strong> has closed a USD 4.6 mn pre-seed&nbsp;<\/strong><strong>round <\/strong>led by Egypt\u2019s <a target=\"_blank\" href=\"http:\/\/www.disruptechventures.com\/\" style=\"\" rel=\"noopener\">DisrupTech Ventures<\/a>, with participation from SS Capital and other undisclosed investors, the startup said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1533.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where is the money going?<font face=\"Arial\">&nbsp;<\/font><\/strong>The funds will help the startup launch its Bokra app \u2014 an app that offers custom-tailored investment plans across several types of security-backed assets \u2014 and expand its investment products portfolio. The funds will also be utilized to upscale Bokra\u2019s operations across the MENA region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Bokra:<\/strong> Founded in 2023, Bokra is a home-grown fintech startup that aims to simplify goal-based investing in asset-backed securities for retail and SME investors. Set to launch in 2Q 2024, Bokra's app will match users with a tailored investment portfolio after assessing their risk tolerance and financial objectives. The platform provides tools for tracking progress towards investment goals. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:&nbsp;<\/strong>\u201cIn a region where financial needs and aspirations are ever changing, Bokra is poised to become the preferred investment platform for both individuals and SMEs looking to diversify their fractional ownership portfolio in a simple, trackable and informed way,\" the company\u2019s founder and CEO Ayman Elsawy (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ayman-elsawy-0ba35623\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) said. <\/p>\n<p class=\"tag-border-left\">ANOTHER LOCAL FINTECH STARTUP RAISES 7-FIGURE SEED ROUND-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Value Makers Studio (VMS) led a seven-figure seed funding round for Egypt-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/waffarha.com\/en\" style=\"\" rel=\"noopener\">coupon app Waffarha<\/a><\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/04\/waffarha-secures-seven-figure-seed-round-vms\" style=\"\" rel=\"noopener\">press release<\/a>. There\u2019s no publicly available information about the funding structure, the of the stake accumulated by VMS, or clarity on the currency of the seven-figure raise. <strong>Egypt\u2019s fintech giant <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.fawry.com\/\" style=\"\" rel=\"noopener\">Fawry<\/a><\/strong><strong> holds a 30% stake in Waffarha.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This strategic partnership plays well into Waffarha\u2019s plan to expand into the Saudi<\/strong><strong> market<\/strong>, get a grip on the customer persona of the Saudi consumers while targeting them with appealing marketing campaigns.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds:<\/strong> The funds are earmarked to finance the company\u2019s expansion strategy including in the kingdom, along with growing its team and enhancing its tech offering.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Waffarha finds cheaper offers <\/strong><strong>for products and services in multiple sectors&nbsp;<\/strong>including F&amp;B, entertainment, health &amp; beauty, and hospitality through its network of 1k merchants and 3k stores. Waffarha also has a B2B segment that offers white-label loyalty solutions to partners and vendors. <\/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\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"618982 advertiser\" class=\"issue-section enterprise-adv\">\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=\"618982\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/618982\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618982\" class=\"content-area-description single-story post-618982 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/186.jpg?ssl=1\"><\/a><\/span><\/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=\"618983\" 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=\"618983\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/could-the-resignation-of-israeli-intelligence-chief-aharon-haliva-be-the-first-of-many\/\">\r\n                            Could the resignation of Israeli intelligence chief Aharon Haliva be the first of many?                        <\/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\/2024\/04\/23\/could-the-resignation-of-israeli-intelligence-chief-aharon-haliva-be-the-first-of-many\/\" 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\/2024\/04\/23\/could-the-resignation-of-israeli-intelligence-chief-aharon-haliva-be-the-first-of-many\/')\">\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\/2024\/04\/23\/could-the-resignation-of-israeli-intelligence-chief-aharon-haliva-be-the-first-of-many\/\">\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=Could the resignation of Israeli intelligence chief Aharon Haliva be the first of many?&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/could-the-resignation-of-israeli-intelligence-chief-aharon-haliva-be-the-first-of-many\/\">\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\/2024\/04\/23\/could-the-resignation-of-israeli-intelligence-chief-aharon-haliva-be-the-first-of-many\/&title=Could the resignation of Israeli intelligence chief Aharon Haliva be the first of many?\">\n                    LinkedIn                    <!-- <img decoding=\"async\" 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                 <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1629.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"618984\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/could-the-resignation-of-israeli-intelligence-chief-aharon-haliva-be-the-first-of-many\/1629-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1629.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1629.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1629.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1629.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618983\" class=\"content-area-description single-story post-618983 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-gaza tag-israel tag-last-nights-talk-shows tag-politics tag-supply-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.3bc0ce52-4bcb-461f-8dfd-3231357cb04e.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The resignation of Israel\u2019s military <\/strong><strong>intelligence chief Aharon Haliva was the focal point of<\/strong><strong> talk shows last night,<\/strong> with pundits mulling whether this signals the first of many resignations within the Israeli military leadership to come. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The first of many to step down? <\/strong>The resignation of the head of Israel\u2019s military intelligence could bring on a string of more resignations within Israeli military leadership, said Al Quds University professor Ayman El Raqab on a call with Lamees El Hadidi on Kelma Akhira (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=CMw7dYP0pPk\" style=\"\" rel=\"noopener\">watch, runtime: 9:08<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A push for greater accountability from up top:<\/strong> \u201cAharon describes the events of October 7 as a \u201cblack day\u201d in his resignation letter, and pushes for a deeper and more transparent investigation to explain the failures [of Israeli Prime Minister Benjamin Netanyahu.]\u201d Al Raqab explained. \u201cNetanyahu has not admitted this publicly, but behind the scenes it has been said that he himself bears that responsibility personally,\u201d he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aharon's resignation received coverage across the channels<\/strong>, with El Hayah El Youm (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=4ecA2hrMSXw\" style=\"\" rel=\"noopener\">watch,<\/a><a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=4ecA2hrMSXw\" style=\"\" rel=\"noopener\">runtime: 5:40<\/a>), Masaa DMC (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=1whomEO9eHE\" style=\"\" rel=\"noopener\">watch, runtime 2:08<\/a>), and Salet El Tahrir (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=CjEIuRpg1HQ\" style=\"\" rel=\"noopener\">watch, runtime: 3:07<\/a>) all running the story.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND-<\/strong><strong> The price of non-subsidized bread was back on the airwaves \u201c<\/strong>Bakery owners who violate the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c95ef48-558f-4a89-9c5e-8f2ecbe84269\/\" style=\"\" rel=\"noopener\">recent ministerial decision<\/a> to introduce lower prices will face strict penalties that include imprisonment between one to five years and a fine of no less than EGP 10k, closure of the bakery, and confiscation of flour,\u201d Supply Ministry undersecretary Nasser Thabet told El Hadidi on Kelma Akhira (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=4x3vHP4z8Sk\" style=\"\" rel=\"noopener\">watch, runtime: 7:27<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s on citizens to refuse bread that\u2019s wrongly-priced, says Adib: <\/strong>Talk show host Amr Adib said that the government has fulfilled its role on determining the weights and prices of bread in agreement with bakery owners, and that \u201cthe ball is now in the citizen\u2019s court, who must refuse bread if there are violations\u201d of the ministerial decision (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=HbSvqLRlQn0\" style=\"\" rel=\"noopener\">watch, runtime: 39:58<\/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\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span 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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/germanys-smart-automobile-teams-up-with-ezz-el-arab-group-for-egypt-ev-venture-plus-bpe-partners-gears-up-for-acquisitions-an-oil-freezone-with-the-uae-in-the-works-ekhalas-team-up-with-b\/\">\r\n                            Germany\u2019s Smart Automobile teams up with Ezz El Arab Group for Egypt EV venture. PLUS: BPE Partners gears up for acquisitions, an oil freezone with the UAE in the works, eKhalas team up with Balad                        <\/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\/2024\/04\/23\/germanys-smart-automobile-teams-up-with-ezz-el-arab-group-for-egypt-ev-venture-plus-bpe-partners-gears-up-for-acquisitions-an-oil-freezone-with-the-uae-in-the-works-ekhalas-team-up-with-b\/\" 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\/2024\/04\/23\/germanys-smart-automobile-teams-up-with-ezz-el-arab-group-for-egypt-ev-venture-plus-bpe-partners-gears-up-for-acquisitions-an-oil-freezone-with-the-uae-in-the-works-ekhalas-team-up-with-b\/')\">\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\/2024\/04\/23\/germanys-smart-automobile-teams-up-with-ezz-el-arab-group-for-egypt-ev-venture-plus-bpe-partners-gears-up-for-acquisitions-an-oil-freezone-with-the-uae-in-the-works-ekhalas-team-up-with-b\/\">\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=Germany\u2019s Smart Automobile teams up with Ezz El Arab Group for Egypt EV venture. 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/germanys-smart-automobile-teams-up-with-ezz-el-arab-group-for-egypt-ev-venture-plus-bpe-partners-gears-up-for-acquisitions-an-oil-freezone-with-the-uae-in-the-works-ekhalas-team-up-with-b\/1636-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1636.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1636.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1636.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1636.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618986\" class=\"content-area-description single-story post-618986 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-automotive tag-bpe-partners tag-enterpriseam tag-fintech tag-investment-watch tag-oil-and-gas wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.165430ea-fb3f-40c4-a881-74be41615824.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">AUTOMOTIVE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Smart EVs to hit the market this year: <\/strong>German EV company <a target=\"_blank\" href=\"https:\/\/global.smart.com\/\" style=\"\" rel=\"noopener\">Smart Automobile<\/a>, a joint venture between Mercedes-Benz and Geely, has partnered with Ezz Elarab Group subsidiary Ezz Elarab Star to bring its electric vehicles to the local market in 3Q 2024, the EV firm said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1544.pdf\" style=\"\" rel=\"noopener\">statement (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1544.pdf\" style=\"\" rel=\"noopener\">pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1544.pdf\" style=\"\" rel=\"noopener\">)<\/a>. As the company\u2019s distribution partner for the country, Ezz Elarab Star plans to launch sales and aftersales stores at two locations in Greater Cairo.<\/p><p class=\"tag-border-left\">M&amp;A-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More acquisitions in BPE\u2019s future:<\/strong> Private equity firm BPE Partners is studying several acquisitions in the healthcare and payments sectors, co-founder Aladdin Saba told <a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1782363782309695615\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The firm is also looking to exit two of its portfolio companies, he added without identifying the companies. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Regional expansion on the horizon:<\/strong> The firm wants to step foot into a number of Arab markets over \u201cthe coming period,\u201d he added.<\/p><p class=\"tag-border-left\">INVESTMENT- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Could we see a new freez<\/strong><strong>one for oil production in cooperation with the UAE?<\/strong> Prime Minister Mostafa Madbouly is in early-stage talks to sign a preliminary agreement with the UAE\u2019s Fujairah emirate and Abu Dhabi-based petrochemicals firm <a target=\"_blank\" href=\"https:\/\/www.borouge.com\/en\/Pages\/home.aspx\" style=\"\" rel=\"noopener\">Borouge<\/a> to set up a freezone focused on the production, storage, and trade of oil and its derivatives, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid021osFrpn1Mmp1rWTQryuKFVnW7KXE9ou1Xf2mdvtgLxYx8GKXgduKGsfnY3YwFjXMl\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p><p class=\"tag-border-left\">FINTECH-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>eKhales, Balad launch payment solution for expats: <\/strong>e-Finance\u2019s digital payments arm eKhales has teamed up with local fintech startup <a target=\"_blank\" href=\"https:\/\/www.balad.me\/\" style=\"\" rel=\"noopener\">Balad<\/a> to introduce a new bill payment platform to serve Egyptian expats in more than 60 countries, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1566.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The platform will allow expats to pay bills, tuition fees, or installments at home from outside the country. <\/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\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bpe-partners\/\">BPE Partners<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n        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class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/a-quiet-quarter-for-mena-equities\/\">\r\n                            A quiet quarter for MENA equities                        <\/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\/2024\/04\/23\/a-quiet-quarter-for-mena-equities\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/a-quiet-quarter-for-mena-equities\/1637-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1637.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1637.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1637.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1637.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618988\" class=\"content-area-description single-story post-618988 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-capital-markets tag-enterpriseam tag-financial-markets tag-ipo-watch tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.148638f5-9685-402a-8ed6-97aab66c5a74.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>It was a quiet first quarter for equity and equity-related issuances in MENA<\/strong>, with some USD 1.2 bn raised in the three months ending March 2024, according to data from the London Stock Exchange Group picked up by <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/markets\/equities\/mena-equity-capital-market-issuances-drop-6-yoy-in-q1-2024-wvm77a3s\" style=\"\" rel=\"noopener\">Zawya<\/a>. That\u2019s 6% down year-on-year. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IPOs accounted for 80% of equity capital market activity<\/strong>, with follow-on offerings making up the rest. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi transactions led the way, accounting for seven of eight capital raises<\/strong> (two of them on Nomu), but the UAE had the single largest. In total, the region saw IPOs worth a combined USD 931 mn in 1Q 2024, while rights issues and other follow-on offerings make up the balance of the USD 1.2 bn raised. The big three IPOs: <\/p><ul>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/de573f5b-c1df-4b13-ba64-58e95fdfcffb\/\" style=\"\" rel=\"noopener\">Dubai parking operator Parkin<\/a> \u2014 USD 428.7 mn (DFM) <\/li>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/bf94604c-d669-4f0d-9946-a119503f7306\/\" style=\"\" rel=\"noopener\">Modern Mills<\/a> \u2014 USD 314 mn (Tadawul)<\/li>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5261b26e-e759-43d6-9184-ec46b1506a08\" style=\"\" rel=\"noopener\">Avalon Pharma<\/a> \u2014 USD 130 mn (Tadawul)<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The current Saudi pipeline is looking robust<\/strong>, with the following offerings on deck for Tadawul\u2019s main market:<\/p><ul>\n<li>Electronic retailer <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b0baadd8-46d4-4499-bd0b-9eaec84bcfef\/\" style=\"\" rel=\"noopener\">eXtra<\/a><\/strong> is looking to float a 30% stake UIHC, which operates its consumer finance arm under the Tasheel brand;<\/li>\n<\/ul><ul>\n<li>PIF-backed lender Riyad Bank is considering the listing of its investment banking arm <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/291a8d44-0629-42f6-ae3b-2f9c2eb7bcbd\/\" style=\"\" rel=\"noopener\">Riyad Capital<\/a><\/strong>;<\/li>\n<li>Hotels and resorts operator <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c8620363-c996-408b-8d01-914668fdbb63\/\" style=\"\" rel=\"noopener\">Boudl<\/a><\/strong> has filed to go public;<\/li>\n<\/ul><ul>\n<li>Labor agency <strong>Smasco<\/strong> is in the chute;<\/li>\n<li>Water treatment company <strong>Miahona<\/strong> has gotten approval for an offering of 30% of its shares;<\/li>\n<li><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d75d0a47-62dd-49f0-acd2-6a6aeb2285c1\" style=\"\" rel=\"noopener\">Dr Soliman Abdul Kader Fakeeh Hospital (DSFH)<\/a><\/strong> has gotten regulatory approval to go public;<\/li>\n<li><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9da021c4-8337-47f8-b4f7-7e13f94d0e7e\/\" style=\"\" rel=\"noopener\">Fourth Milling Company<\/a><\/strong> will list before the end of June;<\/li>\n<li>Singapore\u2019s <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/927c9005-50b0-4a1f-b4e5-599628a82d8b\/\" style=\"\" rel=\"noopener\">Olam Group<\/a><\/strong> is mulling the IPO of its Olam Agri subsidiary on Tadawul;<\/li>\n<li>Hypermarket operator <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/eaeb2656-fa3e-4e48-8d21-772adfd9470f\/\" style=\"\" rel=\"noopener\">Lulu<\/a><\/strong> is said to be eyeing a dual listing on Tadawul and ADX;<\/li>\n<li><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/78df2631-68ae-4b15-86cd-59bab3c278b7\/\" style=\"\" rel=\"noopener\">Aster DM Healthcare<\/a><\/strong> looks set to spin-off its GCC assets and seek a dual listing on Tadawul and in the UAE.<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our friends at HSBC as well as Emirates NBD led the underwriting league table<\/strong>, the data shows. <\/p><p class=\"tag-border-left\"> NYSE 24\/7?<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Are you ready to trade New York equities around the clock? <\/strong>The New York Stock Exchange is polling \u201cmarket participants\u201d about their appetite for 24 \/ 7 stock trading. Regulators are separately looking into an application that could make the move possible. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Getting in step with the times? Or the fall of the last bastion of work-life balance in <\/strong><strong>finance<\/strong><strong>? <\/strong>\u201cStock exchanges have become something of a laggard in a world where other big markets, including US treasuries, major currencies, and leading stock index futures, can be traded around the clock from Monday to Friday,\u201d writes the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/31c3a55b-9af9-4158-8a49-4397540571bf\" style=\"\" rel=\"noopener\">Financial Times<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And some brokers already simulate 24\/7 weekday trading<\/strong> in a Rube Goldberg-type system that sees \u201ctrades either matched with their internal holdings, or conducted via a \u2018dark pool\u2019 trading venue such as Blue Ocean, where shares are often traded with Asian retail investors in their daytime,\u201d the paper notes. <\/p><p class=\"tag-border-left\"> MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian shares are mixed in early trading this morning <\/strong>and futures suggest a soft opening for European markets and on Wall Street later today. <\/p><p><a target=\"_blank\" id=\"t.19e461aebae8d7195a30c86c75e25a7c6259d20a\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28,144<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.7% (YTD: +13.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 48.09<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.23<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB<\/strong><strong>)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 48.10<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.20<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,509<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +4.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,076<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: -5.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,168<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +2.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,010.60<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: +5.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,024<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.6% (YTD: +3.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,937<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +9.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 87.00<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 1.80<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,344.50<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 66,524.70<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.8% (YTD: +57.4%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 1.7% at yesterday\u2019s close<\/strong> on turnover of EGP 3.0 bn (40.5% below the 90-day average). Local investors were net buyers. The index is up 13.1% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Ibnsina Pharma (+5.8%), Oriental Weavers (+1.0%) and Eipico (+0.7%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Telecom Egypt (-5.2%), Fawry (-3.7%) and Abu Dhabi Islamic Bank (-3.6%).<\/p><p class=\"tag-border-left\">CORPORATE ACTIONS- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong><strong>Eastern Company moves forward with a capital increase of 400%:<\/strong> The state-owned tobacco giant will increase its capital to EGP 15 bn from EGP 3 bn, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1626.png\" style=\"\" rel=\"noopener\">bulletin<\/a> on the EGX. The company will increase its issued and paid-up capital to EGP 3 bn \u2014- representing an additional EGP 770 mn distributed into 770 mn shares. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong><strong>Court settles Misr Beni Suef, ASEC contractual dispute: <\/strong>Misr Beni Suef Cement will pay Qalaa Holdings\u2019 subsidiary Arab Swiss Engineering Company (ASEC) EGP 260 mn after an arbitral tribunal settled a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/67507575-9954-4c6b-a6a0-ecfad2e31569\/\" style=\"\" rel=\"noopener\">case<\/a> between the two companies in favor of ASEC, Qalaa said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1524.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>.<\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"618990\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">11<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/why-are-so-few-egyptian-households-going-solar\/\">\r\n                            Why are so few Egyptian households going solar?<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/why-are-so-few-egyptian-households-going-solar\/\" 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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Integrated grid-connected, small-scale solar systems could save Egyptian households on their electricity bills and ease pressure on the national grid, yet the high cost of implementation and barriers to financing plans are preventing many from turning to the sun\u2019s rays.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A hefty investment: <\/strong>The cost for a solar panel system is a big-ticket, upfront cost, currently ranging from EGP 150k to EGP 300k depending on the size of the system, according to industry insiders. A solar system has a lifespan of over 25 years and an expected payback period of four to six years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And the EGP float sent prices skywards: <\/strong>The cost of solar panel imports has risen in recent months on the back of a weaker EGP, former head of the Sustainable Energy Division Adel Bishara told Enterprise. The government should consider measures such as waiving customs duties or reducing the costs of inspection and installation processes to incentivize households to install solar systems, Bishara suggested.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rate hikes have also added more pressure<\/strong><strong>:<\/strong> With the latest <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac569e2c-c6f2-480e-bdaa-3f1cd4f81d05\" style=\"\" rel=\"noopener\">600 bps interest rate hike<\/a>, the cost of lending has gone up significantly, creating a situation where more people are opting to pay for systems outright, Yaseen Abdel Ghaffar, founder and managing director of SolarizEgypt, told Enterprise. With yields reaching as high as <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63e69804-99bc-4a94-a1e0-343e601e434b\" style=\"\" rel=\"noopener\">30%<\/a> on certificates of deposit, solar systems have become \u201ca harder investment model to sell,\u201d he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Initiatives to lower interest rates for solar projects? <\/strong>The residential sector has received substantial support from the government in terms of legislation to help prompt the installation of solar plants in households, but \u201ca reduced interest rate specifically for solar panels would result in a lot of savings for the government and lower the barrier to entry [for customers],\u201d thinks Abdel Ghaffar. With a reduced rate, a household that pays EGP 2-3k for electricity each month could install a solar system and pay a similar, if not lower, number, to own the system over five years \u2014 a measure that would also boost the scalability of solar panel installations \u2014 Abdel Ghaffar estimates.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The gov\u2019t can reap the benefits too: <\/strong>\u201cIf you do the calculation in terms of the reduction of interest rates versus the amount of natural gas that would be readily available for export in USD, it would alleviate the FX issue and provide a higher return for the government from a resource allocation standpoint,\u201d Abdel Ghaffar added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Solar will become a more realistic option as subsidies are phased out:&nbsp;<\/strong>The more the government unwinds electricity subsidies, the more electricity prices will go up, driving more consumers to look for solar power alternatives, Abdel Ghaffar said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Urban planning also presents a challenge: <\/strong>Heavily cramped neighborhoods lack access to sunlight, and satellite dishes take up a lot of rooftop space, making it nearly impossible to install solar stations for individual apartments and shops, KarmSolar CEO Ahmed Zahran previously told Enterprise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Solar panels are not for everyone: <\/strong>Solar plants must be installed on privately-owned sites or where the household has rights to the site for at least 25 years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Small-scale solar plants would be conducive to Egypt\u2019s renewables targets:&nbsp;<\/strong>Egypt is eyeing generating <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26cf207c-94e8-442c-9ff1-9401a36869b1\" style=\"\" rel=\"noopener\">42% of its electricity<\/a> via renewable sources by 2030, to which solar-generated energy is expected to contribute around 5% of the energy mix. More domestic solar plants would result in fewer households reliant on the national grid for energy, and also small-scale plants \u2014 up to 10 MW \u2014 cost less to connect to the grid and are less vulnerable to weather conditions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The gov\u2019t has already given support to small-scale solar projects: <\/strong>In a bid to remove some of the market barriers to implementing solar systems, the Electric Utility and Consumer Protection Regulatory Agency (Egyptera) scrapped integration fees for solar plants that produce less than 10 MW of energy per year in 2023, while the fee for larger production projects has been set at EGP 0.30 per KW, a source from the Renewable Energy Authority told Enterprise. Imported solar panels have their customs duties reduced by 5% as per the government\u2019s latest tariff amendments, and the Electricity Ministry has begun establishing partnerships with banks and financial institutions to finance system setups. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Going digital: <\/strong>The Electricity Ministry launched a website last month to streamline the installation of solar panels for households and companies and connect them to the national power grid. The website offers guidance on the installation of PV cells, the costs involved, the necessary capacity, and the required documents, in addition to listing qualified installation companies. <strong>You can learn more about the platform in a previous Going Green <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/69790df9-6b07-48e6-ad91-e8f769c3a5cd\" style=\"\" rel=\"noopener\">here<\/a><\/strong><strong>.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Could solar plants mean the end for our blackout woes?<\/strong> In reality, probably not, says Abdel Ghaffar. A typical grid-connected solar system is designed to be cost saving, but it is not set up to work as a fully off-grid system, Abdel Ghaffar told us. While a special inverter and a small battery could sustain a solar system during power outages, the cost of installation, equipment, and maintenance would skew the model towards a higher end product, he said, adding that Egypt\u2019s power cuts are expected to be a temporary issue that wouldn\u2019t last more than a year or two, while solar systems are built to be a long-term investment.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top green economy stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Gov\u2019t wants to cultivate rice that consumes less water:<\/strong> The Madbouly government wants to further expand the cultivation of varieties of rice that consume 20% less water than normal seeds. (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0fmyg9zg3ZMkQompzKbjSXR2VkkTx8bgxdQnhQ19zJxQqC8NW9PEyibPpBAp5gCGrl\" style=\"\" rel=\"noopener\">Statement<\/a>) <\/li>\n<li><strong>Green hydrogen fish farming: <\/strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/triple-m-construction\/\" style=\"\" rel=\"noopener\">Triple M Construction<\/a> has inked an agreement with the Norwegian Embassy and the <a target=\"_blank\" href=\"https:\/\/www.asmaknet.com\/about#\" style=\"\" rel=\"noopener\">International Fish Center<\/a> to launch Egypt\u2019s first green-hydrogen powered fish farming project. (<a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%aa%d8%b1%d8%a8%d9%84-%d8%a5%d9%85-%d9%88%d8%a7%d9%84%d8%b3%d9%81%d8%a7%d8%b1%d8%a9-%d8%a7%d9%84%d9%86%d8%b1%d9%88%d9%8a%d8%ac%d9%8a%d8%a9-%d8%aa%d8%a4%d8%b3%d8%b3%d8%a7%d9%86-%d9%85\/\" style=\"\" rel=\"noopener\">Al Mal<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-energy\/\">green energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/karmsolar\/\">KarmSolar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/solar-power\/\">solar power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/solarizegypt\/\">SolarizEgypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"618992\" 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\/2024\/04\/23\/618992\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618992\" class=\"content-area-description single-story post-618992 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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">APRIL<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25 April (Thursday): National holiday in observance of Sinai Liberation Day (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 April (Friday): Clocks move forward one hour at midnight as daylight saving time starts.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">28 April (Sunday): Grace period to ins. brokerage firms to comply with Law 215 for 2023 expires.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">28-29 April (Sunday-Monday): Saudi Arabia hosts a World Economic Forum (WEF) meeting on \u2018global collaboration, growth, and energy.\u2019<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29 April (Monday): The government\u2019s car export scheme expires.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 April (Tuesday): The Decision Makers Conference takes place at the St. Regis Cairo. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 May (Wednesday): National holiday in observance of Labor Day (TBC) (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-5 May (Thursday-Sunday): Townhall Expo in Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5 May (Sunday): Coptic Easter.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 May (Monday): Sham El Nessim (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">19-21 May (Sunday-Tuesday): Egypt International Summit for Digital Transformation and Cybersecurity.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 May (Monday): Malaysian Palm Oil Forum in Cairo, with attendance from Malaysian Plantation and Commodities Minister Johari Abdul Ghani.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 May (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29 May (Wednesday): Virtual launch of Chicago Booth Executive Program.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15-19 June (Saturday-Wednesday): Eid El Adha (TBC) (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29-30 June (Saturday-Sunday): EU-Egypt Investment Conference.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 June (Sunday): June 30 Revolution Day (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">7 July (Sunday): National holiday in observance of Islamic New Year (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">18 July (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23 July (Tuesday): Revolution Day (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-5 September (Monday-Thursday): Egypt International Airshow, El Alamein International Airport.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 September (Sunday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25-26 September (Wednesday - Thursday): The Asian Infrastructure Investment Bank\u2019s (AIIB) 2024 annual meeting, Samarkand, Uzbekistan.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 October (Sunday): Armed Forces Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17 October (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21-27 October (Monday-Sunday): The World Bank and IMF annual meetings.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">April 2024: President Abdel Fattah El Sisi will visit Turkey.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2024: Egyptian-Qatari Joint Supreme Committee.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2024: Opening of the newly developed Pyramids Plateau in Giza.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2024: The government is set to finalize the sale of the Gabal El Zeit wind farm.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">February-May: The Grand Egyptian Museum could officially open to visitors.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">March 2024: The USD 2.7 bn MIDOR Refinery is set to begin full operations. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">May 2024: Egypt to receive USD 20 bn of Ras El Hekma funds.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">May 2024: Arab Finance Ministers\u2019 meeting at Egypt\u2019s administrative capital.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">June 2024: Gov\u2019t expects to finalize sale of Beni Suef combined-cycle power plant.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1H 2024: Gov\u2019t expects to finalize sale of four water desalination plants.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2H 2024: Gov\u2019t to launch the Cairo Ring Road BRT buses.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">November 2024: Egypt to host the World Urban Forum (WUF12).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2024: The launch of the high-speed train line linking Ain Sokhna with Al Alamein City. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2Q 2025: Safaga Terminal 2 to start operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 January-7 February: Egypt to host the African Games<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.<\/span><\/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":"<p>LNG imports on the up | Another mega Chinese industrial investment | Egypt\u2019s third gold fund in the works | Budget support from the UK<\/p>\n","protected":false},"featured_media":618966,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-618965","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"3769dd9b-379a-4170-955a-1134b8809af7","teaser":"LNG imports on the up | Another mega Chinese industrial investment | Egypt\u2019s third gold fund in the works | Budget support from the UK","photo_url":"https:\/\/ent.news\/2024\/1\/516.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\/ 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