{"id":655457,"date":"2024-11-19T00:00:00","date_gmt":"2024-11-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=655457"},"modified":"2025-12-18T01:26:12","modified_gmt":"2025-12-18T01:26:12","slug":"house-expected-to-take-final-vote-on-refugee-bill","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/house-expected-to-take-final-vote-on-refugee-bill\/","title":{"rendered":"House expected to take final vote on refugee bill"},"content":{"rendered":"<section id=\"655459\" 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=\"655459\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p 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class=\"content-area-description single-story post-655459 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-adq tag-enterpriseam tag-hassan-allam-holding tag-modon-holding tag-ras-el-hekma 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\/11\/.72616925-3b2b-4ce9-a9ae-9adcdb0408f0.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><strong>.<\/strong> We\u2019ve got another packed issue for you this morning, with plenty for you to read through this morning. Space is at a premium today, so let\u2019s get started.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT FIRST- Today\u2019s a great day to check out our sister publication <\/strong><strong>EnterpriseAM KSA<\/strong>, as you can check out their interview with regional real estate marketing consultancy Ctrl+ co-founder Tamer Elfiky on what\u2019s next for the Saudi real estate industry as more developers \u2014 Saudi, Egyptian, and others \u2014 look to Saudi Arabia as the next great regional growth market. You can check out the story <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/bfb73c5a-385c-4194-bd53-d9eee746d2e4\/homebuyers-in-saudi-arabia-prefer-home-grown-brands\" style=\"\" rel=\"noopener\">here<\/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\"><strong>WEATHER- <\/strong>Temperatures are continuing to cool in Cairo today, with a high of 24\u00b0C and a low of 17\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>It\u2019s a tiny bit chillier in Alexandria<\/strong>, with a high of 23\u00b0C, a low of 15\u00b0C, and scattered showers with a chance of thunder.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/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- Modon Holding taps Hassan Allam Holding for Ras El Hekma construction projects:<\/strong> Our friends at Hassan Allam Holding have inked a memorandum of understanding with Abu Dhabi wealth fund ADQ portfolio company and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0b97fcf-95b0-4d39-86ae-0a4989221520\/adq-acquires-development-rights-to-ras-el-hekma-for-usd-24-bn,-will-invest-a-further-usd-11-bn-in-real-estate-and-other-prime-projects\" style=\"\" rel=\"noopener\">Ras El Hekma project<\/a> master developer <a target=\"_blank\" href=\"https:\/\/modon.com\/\" style=\"\" rel=\"noopener\">Modon Holding<\/a>, in an agreement to cooperate on projects in the \u201cinfrastructure, energy, and water and wastewater treatment, and special building\u201d sectors, the companies said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1758.pdf\" style=\"\" rel=\"noopener\">joint statement (pdf)<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \"This collaboration on the Ras El Hekma project paves the way for delivering world-class developments while advancing the region\u2019s urban and economic aspirations. Together, we are committed to seizing opportunities that will transform cities and enhance the quality of life,\" CEO Hassan Allam said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> ADQ <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c6c12975-8799-49e6-af3e-e896885687a3\/adq-taps%253cmark%253e-modon%253c%2Fmark%253e-holding-as-ras-el-hekma-master-developer\" style=\"\" rel=\"noopener\">tapped Modon Holding<\/a> to be the master developer on its landmark USD 35 bn Ras El Hekma project on the North Coast last month, with the firm also tasked with developing the first 50 mn sqm phase of the city. <\/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=\"wwtt2\"><\/a> <strong>#2- Instapay to start<\/strong><strong> accepting remittances from GCC nations starting within two months <\/strong>The Central Bank of Egypt\u2019s payment platform Instapay will start accepting Egypt-bound remittances from Gulf nations before within two months, the bank\u2019s deputy assistant governor for payment systems and services, Ehab Nasr, said yesterday at the Pafix Expo at Cairo ICT 2024, reports <a target=\"_blank\" href=\"https:\/\/almalnews.com\/%D8%A5%D8%AA%D8%A7%D8%AD%D8%A9-%D8%A7%D9%84%D8%AA%D8%AD%D9%88%D9%8A%D9%84%D8%A7%D8%AA-%D9%85%D9%86-%D8%A7%D9%84%D8%AE%D9%84%D9%8A%D8%AC-%D9%84%D9%85%D8%B5%D8%B1-%D8%B9%D8%A8%D8%B1-%D8%A5%D9%86\/\" style=\"\" rel=\"noopener\">Al Mal<\/a>. For the time being, transfers will be received in EGP, but opening this up to AED and SAR is being studied.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve been waiting for this for a while now: <\/strong>We heard back in November that the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d0de16f6-4f11-4511-8f5f-743b1a57da64\" style=\"\" rel=\"noopener\">central<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d0de16f6-4f11-4511-8f5f-743b1a57da64\" style=\"\" rel=\"noopener\">bank had agreed<\/a> with UAE, Jordan \u2014and is in advanced talks with Saudi Arabia\u2019s central bank \u2014 to onboard banks in these countries on the CBE-run payments app and roll out the remittance services in 1H 2024. We then heard from unconfirmed reports in July that the date <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8e263ec4-9e1a-4475-81a2-d8737429a1ca\/japan%25e2%2580%2599s-saraya-mulls-another-two-sczone-projects.-plus:-yacht-tourism,-city-lab-%2B-cairo-clinical-labs,-afreximbank,%253cmark%253e-instapay%253c%2Fmark%253e,-mermec,-kima,-exits,-eagles-fert,-sky-abu-dhabi,-azimut\" style=\"\" rel=\"noopener\">had been pushed back<\/a> to September.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Easier ways to pay here at home are also in the works: <\/strong>The CBE announced that Egyptians will soon be able to make payments using Apple Pay and Samsung Pay apps as well as the use of QR code payments, as part of the country\u2019s initiative for contactless payment solutions, reports <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/economics\/60950\/%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A-%D9%8A%D8%AA%D9%8A%D8%AD-%D8%B5%D8%B1%D9%81-%D8%A7%D9%84%D8%AD%D9%88%D8%A7%D9%84%D8%A7%D8%AA-%D8%A7%D9%84%D9%88%D8%A7%D8%B1%D8%AF%D8%A9-%D9%85%D9%86-%D8%A7%D9%84%D8%AE%D8%A7%D8%B1%D8%AC-%D9%84%D8%AD%D8%B8%D9%8A%D8%A7\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a>  <strong>As are more hassle-free ways to open accounts: <\/strong>The central bank is also aiming to launch electronic know your customer services \u2014 known in the industry as e-KYC \u2014 that will enable Egyptians to open bank accounts online in the first half of next year, Digital Financial Identity CEO Tamer Gadalla told <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1858509633398186004\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. This would be a big help for banks and other players in the financial services industry who are desperate to move away from wet signatures. A switch to e-KYC allows current and potential customers to verify their identities online \u2014 getting low-value transactions out of branches (if you\u2019re the bank) and saving you the hassle of driving to, parking, and queuing at the branch (if you\u2019re the customer). <\/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=\"wwtt5\"><\/a> <strong>#3- Your phone and internet bills are just about to go up:<\/strong> The National Telecom Regulatory Authority (NTRA) has given its preliminary approval to increase prices of telecom services in Egypt, with the authority having granted its approval to four telecom operators to raise the prices of phone calls and internet services, <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/AlArabiya.Egypt\/posts\/pfbid02FKtuA3JvxTDocg24uSMgmMMLVEz4mW6qkM9DoCc6tSL7vjAYrv1JDWnKMs8YZr7nl\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> quotes NTRA CEO Mohamed Shamroukh as saying.<\/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>#1- It\u2019s the second and the final day of the G20 Summit in Brazil: <\/strong>President Abdel Fattah El Sisi <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02hmyBygS1vVyE5tz8rdbKhCWsAsYb6kYo7MJXf9XQDzz4q87MbtCfA3D8AD3z145Cl\" style=\"\" rel=\"noopener\">addressed the summit yesterday<\/a> and called for the \u201cmobilization of political will to reorient global priorities\u201d to address military aggression, developing nations\u2019 debt, a widening gap between the developed and developing world, and the needed financing to meet climate goals. El Sisi also called out how \"persistent Israeli aggression continues unabated, thriving on the world\u2019s inaction.\u201d <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E<\/strong><strong>gypt and Brazil also inked a strategic partnership on day one of the summit: <\/strong>The heads of the two Brics nations signed a strategic partnership, marking 100 years of diplomatic relations, according to an Ittihadiya <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02hhVVHNVFruWyKVFCaXKgNEsViUVfpr9Uiq6PPtjDFBvBjsT2Jn4bPaK2d7QA56JYl\" style=\"\" rel=\"noopener\">statement<\/a>. Key priorities under the partnership include commitment to the UN Charter and International Law, enhancing diplomatic relations, focusing on both nations\u2019 socio-economic development needs, increasing consultation on issues of common interest, and expanding cooperation across areas such as trade, investment, agriculture, environment, science, and education. The two countries will develop a dynamic action plan to implement the partnership.<\/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- Environment Minister Yasmine Fouad is in Azerbaijan for the ministerial segment of<\/strong> <strong>COP29, <\/strong>where she will jointly lead negotiations for a new collective climate finance goal with her Australian counterpart, according to a ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02Fr37NjydM9Uz1bnfWR4DadgA9Hhh23Lmrio9b16iAf77RqmbrYpYnzdgHdX9Dx8Zl\" style=\"\" rel=\"noopener\">statement<\/a>. The aim of the negotiations is to initiate a new climate finance goal to help developing nations and communities most affected by climate change to adapt to the effects of climate change and to implement mitigation measures. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fouad is also set to hold a number of bilateral meetings<\/strong> with ministers and representatives of international organizations on the sidelines of the summit, and take part in discussions over the conference on tourism and transportation, biodiversity, coastal areas, and indigenous peoples. <\/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- El Nasr Castings is set to resume operations today following a two year<\/strong><strong> production hiatus<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02hZJRaAtAEZmPrWuUeZKQ43FX5TF44AbWucMpVFsvfgFe23nngJxDdsk8ZfBWCXjzl\" style=\"\" rel=\"noopener\">statement<\/a> from the Industry Ministry. An agreement inked between the company and the workers\u2019 union commits the company to fund operations, material inputs, along with employee salaries and incentives from the sale of unused assets. Industry Minister Kamel El Wazir added that the needed input materials will be provided as of today.<\/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>#4- The Federation <\/strong><strong>of Egyptian Industries\u2019 Arab Cooperation Committee will host a<\/strong><strong> delegation from the Saudi Chamber of Commerce and Industry<\/strong> at the Conrad Hotel today, with the goal of discussing cooperation and investment between the two countries.<\/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\"><a id=\"wwtt4\"><\/a> <strong>The <\/strong><strong>proposed refugee law<\/strong><strong> is expected to be put up for a final vote today:<\/strong> The House is expected to take a final vote today on a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1b1e39ec-7c58-40a1-ac20-e55337292b99\/imf-to-wrap-fourth-review-this-week\" style=\"\" rel=\"noopener\">government-drafted bill<\/a> that aims to establish a legal framework for refugees\u2019 status, rights and obligations, after the law received preliminary approval on Sunday. The bill proposes creating a permanent committee for refugee affairs to handle all refugee-related matters, including managing data and statistics.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also on the agenda:<\/strong> The House will also continue discussing the newly-amended Criminal Procedures Law and vote on an agreement between Egypt and Italy on implementing a program supporting the rights of citizens with disabilities.<\/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\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>COP29 climate talks in Baku are in disarray and multiple Western media outlets are <\/strong><strong>portraying Saudi Arabia as spoiler-in-chief. <\/strong>Ministers leading the talks, including top officials from Germany, Australia, and South Africa, have flown into Azerbaijan in a bid to put things back on track. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The key sticking points in this final week of talks: <\/strong>Saudi leads a group of countries that don\u2019t want the final agreement to include steps outlining how countries will transition away from fossil fuels and embrace greener energy. Saudi, the UAE and China are also resisting pushes to contribute to a fund to help developing countries transition \u2014 backers want a USD 100 bn goal (agreed a decade ago) to be bumped up to USD 1 tn, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ccdb666f-f057-41c7-867a-6265d9a2406e\" style=\"\" rel=\"noopener\">Financial Times<\/a> notes.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The flavor in the western press: <\/strong>\u201cSaudi Arabia is a \u2018wrecking ball\u2019 in global climate talks,\u201d blares the headline in the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/11\/18\/climate\/saudi-arabia-obstruction-fossil-fuels.html\" style=\"\" rel=\"noopener\">New York Times<\/a>. <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-16\/cop29-clash-brews-as-saudis-resist-restating-fossil-fuel-pledge\" style=\"\" rel=\"noopener\">Bloomberg<\/a> has a similar take. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Eat the rich:<\/strong> The G20, meeting in Rio, has pledged to impose taxes on the super-rich \u2014 and repeated a demand that the climate finance pool be expanded to \u201ctns\u201d not \u201cbns\u201d of USD. The call to <a target=\"_blank\" href=\"https:\/\/www.ajc.com\/news\/nation-world\/host-brazil-focuses-g20-summit-on-fighting-hunger-amid-wars-and-trumps-return\/7RWSUGQU2VFVPATCN6VXMPV5ME\/\" style=\"\" rel=\"noopener\">tax bn\u2019aires\u2019 incomes by 2%<\/a>, pushed by Brazil, is short on specifics.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WORTH READING- The Wall Street Journal\u2019s portrait of the incoming Trump <\/strong><strong>administration\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/elections\/trump-transition-witkoff-middle-east-39364c30\" style=\"\" rel=\"noopener\">\u201cpoint man\u201d on the Middle East<\/a><\/strong>, real estate baron Steve Witkoff.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Speaking to Trump II: It\u2019s still unclear who will run Treasury<\/strong> and the National Economic Council, though <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-18\/trump-team-shows-support-for-warsh-as-treasury-feuding-persists\" style=\"\" rel=\"noopener\">Bloomberg<\/a> suggests we may have some clarity here before the week is out.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CLOSER TO HOME- Oman\u2019s state energy company, OQ, is looking to raise as much as <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-18\/oman-s-oq-seeks-to-raise-490-million-from-methanol-unit-ipo\" style=\"\" rel=\"noopener\">USD 490 mn<\/a><\/strong><strong> from the IPO of its methanol and liquefied petroleum unit<\/strong>. Cornerstone investors for up to 30% of the offering are reportedly in place.<\/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\/ent.news\/ads\/imgs\/239.jpg?ssl=1\"><\/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 at the World Food Programme\u2019s Adaptation Fund Climate Innovation Accelerator and the local startups that made the cut.<\/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\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hassan-allam-holding\/\">Hassan Allam Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/modon-holding\/\">Modon Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ras-el-hekma\/\">Ras El Hekma<\/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=\"655461 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=\"655461\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/19\/655461\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655461\" class=\"content-area-description single-story post-655461 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\/10\/1544.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Somabay<\/span><span style=\"\">, every reason to fall in love.<\/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=\"655462\" 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=\"655462\">\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\">Education<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/19\/efg-hermes-launches-usd-300-mn-saudi-education-fund-acquires-schools-across-the-gcc\/\">\r\n                            EFG Hermes launches USD 300 mn Saudi Education Fund, acquires schools across the GCC                        <\/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 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               <\/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\/11\/19\/efg-hermes-launches-usd-300-mn-saudi-education-fund-acquires-schools-across-the-gcc\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1693.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655463\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/19\/efg-hermes-launches-usd-300-mn-saudi-education-fund-acquires-schools-across-the-gcc\/1693-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1693.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1693.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1693.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1693.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655462\" class=\"content-area-description single-story post-655462 post type-post status-publish format-standard has-post-thumbnail hentry category-education tag-education tag-efg-hermes tag-efg-holding tag-enterpriseam 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\/11\/.b8a257c9-a067-4279-89c1-1f01f280dad3.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Our friends at EFG Hermes have launched a USD 300 mn fund that aims to <\/strong><strong>build an \u201cinstitutional, world-class K-12 operator\u201d in Saudi Arabia<\/strong>, it said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1705.pdf\" style=\"\" rel=\"noopener\">a statement (pdf)<\/a>. The firm\u2019s Saudi Education Fund \u201caims to capitalize on the clear market opportunity that is evidenced by the growing student population in private schools, which is expected to more than double,\u201d the statement added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The gameplan: <\/strong>SEF plans to deploy USD 300 mn over the next three years, with a primary focus on the Kingdom, alongside its ventures in the UAE and Bahrain, Egypt Education Platform (EEP) CEO Ahmed Wahby <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4370279\/-%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D8%AA%D8%B9%D9%84%D9%8A%D9%85-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A-%D9%84%D9%80-%D9%85%D8%A8%D8%A7%D8%B4%D8%B1-%D9%86%D8%AE%D8%B7%D8%B7-%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-300-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D8%AE%D9%84%D8%A7%D9%84-3-%D8%B3%D9%86%D9%88%D8%A7%D8%AA\/\" style=\"\" rel=\"noopener\">said<\/a>. <a target=\"_blank\" href=\"http:\/\/www.spark-eg.com\/\" style=\"\" rel=\"noopener\">Spark Egypt for Training and Development<\/a>, led by the EEP team, is set to manage and oversee the new fund\u2019s activities, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fund has also acquired a portfolio of seven schools: <\/strong>SEF has acquired seven international schools in Saudi Arabia, UAE, and Bahrain from GFH Financial Group under the <a target=\"_blank\" href=\"https:\/\/brituseducation.com\/\" style=\"\" rel=\"noopener\">Britus Education<\/a> brand. Together, the schools can serve up to 12k students, with 8k already enrolled. The acquisition is subject to regulatory approvals. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Britus: <\/strong>Britus Education is a MENA-based <a target=\"_blank\" href=\"https:\/\/brituseducation.com\/about\/\" style=\"\" rel=\"noopener\">network of schools<\/a> offering high-quality and affordable education to students across KSA, Bahrain, the UAE and Tunisia. The operator provides a wide range of international curricula including the British Curriculum, US Common Core Curriculum, IB Diploma Program, and the Egyptian Curriculum. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This isn\u2019t EFG Hermes\u2019 first foray into education: <\/strong>EFG Hermes back in 2018, alongside the Sovereign Fund of Egypt, GEMS Education, and other investors, <a target=\"_blank\" href=\"https:\/\/enterprise.press\/stories\/2018\/05\/21\/efg-gems-partner-up-on-new-k-12-education-platform-in-egypt\/\" style=\"\" rel=\"noopener\">launched<\/a> its first education fund \u2014 the Egypt Education Platform. The platform has built a diverse portfolio of 25 assets in Egypt \u2014 23 schools and pre-schools offering five curricula with a capacity of 25k students, an educational content business (Selah El Telmeez), and a transportation service (Option Travel) catering to over 3k students daily.. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Same play, new stage: <\/strong>\u201cDrawing on the expertise and insights we've gained over the past five years while establishing Egypt\u2019s premier K-12 operator, EEP, we are poised to deliver exceptional educational services to our new student populations. Through this investment, we are committed to ensuring that Britus Education flourishes and adapts to the dynamic needs of students and communities throughout the region,\u201d Co-CEO of EFG Hermes Karim Moussa said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- PwC Middle East<\/strong> was the financial and tax advisor to SEF and <strong>White &amp; Case <\/strong>was legal counsel. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-holding\/\">EFG Holding<\/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=\"655464\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel 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data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/481.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/481.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655465\" class=\"content-area-description single-story post-655465 post type-post status-publish format-standard has-post-thumbnail hentry category-poll tag-central-bank-of-egypt tag-economy tag-enterpriseam tag-inflation tag-interest-rates tag-poll 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\/11\/.5c225d5b-cfe0-4cd3-9a9d-47424e8ac9eb.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>CBE to stay the course, a<\/strong><strong>nalysts<\/strong><strong> tell EnterpriseAM:<\/strong> The Central Bank of Egypt (CBE) is expected to leave interest rates unchanged when it meets on Thursday, amid persisting inflationary pressures driven by rising fuel prices as well as continuing geopolitical tensions in the region, according to our interest rate poll. All nine of the analysts and economists we surveyed see the Monetary Policy Committee (MPC) holding rates steady.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where rates currently stand:<\/strong> The overnight deposit rate stands at 27.25%, the overnight lending rate at 28.25%, and the main operation and disc. rates at 27.75%. Rates have remained unchanged since the committee delivered a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac569e2c-c6f2-480e-bdaa-3f1cd4f81d05\" style=\"\" rel=\"noopener\">600 bps rate hike<\/a> following a surprise monetary policy meeting in March in conjunction with the float of the EGP and a larger loan package from the IMF being approved soon after.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>If the analysts are right, this would mark the fifth time that the MPC voted to keep rates<\/strong><strong> steady:<\/strong> The central bank hasn\u2019t made any changes to interest rates since its March rate hike \u2014 leaving them as is when it met in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dcf6e23c-70a9-499b-bb2c-467f1a22252b\/cbe-leaves-interest-rates-unchanged-in-line-with-expectations\" style=\"\" rel=\"noopener\">May<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8c2aa31e-24a6-41e8-9ec2-6cbbab9e2855\/egypt'\" style=\"\" rel=\"noopener\">July<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/021ff2d7-1458-43ae-ba85-3f1274c5ae24\/egypt%25e2%2580%2599s-central-bank-holds-interest-rates-steady-for-third-consecutive-meeting\" style=\"\" rel=\"noopener\">September<\/a>, and most recently in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c4bed02c-b3fa-4955-ae1b-a01331a235c6\/central-bank-holds-interest-rates-in-line-with-expectations\" style=\"\" rel=\"noopener\">October<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Three consecutive monthly rises in inflation have strengthened calls to keep rates where <\/strong><strong>they are: <\/strong>Annual headline urban inflation <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4fbdb675-e769-438a-ba63-11d1f9466840\/%253cmark%253einflation%253c%2Fmark%253e-rises-for-the-third-consecutive-month-to-26.5%2525\" style=\"\" rel=\"noopener\">rose 0.1 percentage point<\/a> to 26.5% in October, extending its upward trajectory for a third consecutive month and pushing us further away from the central bank\u2019s average <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/monetary-policy\/inflation-target#inflationtargets\" style=\"\" rel=\"noopener\">inflation target<\/a> of 7% (\u00b12%) by 4Q 2024 and 5% (\u00b12%) in 4Q 2026. After having <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c404f58-2406-4138-bee3-3b59858bfa5f\/%253cmark%253einflation%253c%2Fmark%253e-falls-to-lowest-level-since-december-2022,-recording-of-25.7%2525-in-july\" style=\"\" rel=\"noopener\">fallen for the fifth consecutive month to a 19-month low<\/a> of 25.7% in July, headline has since been on the up on the back of a \u201cmix of fiscal measures and consequences of EGP devaluation in March accompanied by a lack of positive base effect during 4Q2024\u201d Al Ahly Pharos analysts Esraa Ahmed said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We may also be in line for an unwelcome inflationary surprise courtesy of fuel hikes yet <\/strong><strong>to be fully reflected in the data: \u201c<\/strong>November is expected to fully reflect the impact of energy price hikes\u201d that <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e1e29b9-af1f-412d-9492-354ca6e76353\" style=\"\" rel=\"noopener\">came into effect<\/a> in the middle of October, HC Securities\u2019 Heba Mounir told EnterpriseAM. This sentiment was echoed by most analysts we surveyed, with some adding rising tobacco prices as another potential factor that could add to inflationary pressures in our next inflationary data set out next month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But not everyone agrees that we will see inflation rising again in November: <\/strong>Most analysts see inflation accelerating for a fourth straight month in November on the back of the additional price hikes, with economic analyst Dina El Wakkad telling us that she expects inflation to start trending downward starting November.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The consensus is that the central bank will start cutting rates in the first quarter of next <\/strong><strong>year<\/strong>: \u201cA favorable base effect and a more relaxed global monetary environment\u201d points to the likelihood of the central bank starting its rate cut cycle starting in 1Q 2025, El Wakkad said. Ostoul Securities Brokerage\u2019s research head Mohamed Abdel Hakim added that a decision to keep rates where they are could also be driven by a desire to \u201cpreserve attractive yields for foreign investments in government debt instruments.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A rate cut by 1Q 2025 is not set in a stone, however: <\/strong>The decision to cut rates in the first quarter of next year could be postponed once again if the IMF \u201cinsists on a tight and harsh \u2018economic reforms\u2019 related to fuel prices and\/or EGP outlook\u201d and the \u201cescalation of the current ongoing war that poses a threat to energy prices and worsens geopolitics and Egypt\u2019s risk profile,\u201d Ahmed warns.<\/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\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/poll\/\">POLL<\/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=\"655467\" 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=\"655467\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/19\/al-ahly-sabbour-plans-to-offer-up-to-a-25-stake-on-the-egx\/\">\r\n                            Al Ahly Sabbour plans to offer up to a 25% stake on the EGX                        <\/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\/11\/19\/al-ahly-sabbour-plans-to-offer-up-to-a-25-stake-on-the-egx\/\" 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\/11\/19\/al-ahly-sabbour-plans-to-offer-up-to-a-25-stake-on-the-egx\/')\">\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\/11\/19\/al-ahly-sabbour-plans-to-offer-up-to-a-25-stake-on-the-egx\/\">\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=Al Ahly Sabbour plans to offer up to a 25% stake on the EGX&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/19\/al-ahly-sabbour-plans-to-offer-up-to-a-25-stake-on-the-egx\/\">\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\/11\/19\/al-ahly-sabbour-plans-to-offer-up-to-a-25-stake-on-the-egx\/&title=Al Ahly Sabbour plans to offer up to a 25% stake on the EGX\">\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=Al+Ahly+Sabbour+plans+to+offer+up+to+a+25%25+stake+on+the+EGX+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F19%2Fal-ahly-sabbour-plans-to-offer-up-to-a-25-stake-on-the-egx%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\/11\/19\/al-ahly-sabbour-plans-to-offer-up-to-a-25-stake-on-the-egx\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1775.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655468\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/19\/al-ahly-sabbour-plans-to-offer-up-to-a-25-stake-on-the-egx\/1775-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1775.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1775.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1775.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1775.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655467\" class=\"content-area-description single-story post-655467 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-al-ahly-sabbour tag-enterpriseam tag-ipo-watch tag-united-bank 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\/11\/.e41e095c-5d98-4b7d-aa59-f9f771aea3dc.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Another IPO planned for the EGX is in the works: <\/strong>Local real estate developer Al Ahly Sabbour is looking to list some 20-25% of its shares on the EGX, Chairman Ahmed Sabbour told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/real-estate\/60819\/%D8%A7%D9%84%D8%A3%D9%87%D9%84%D9%8A-%D8%B5%D8%A8%D9%88%D8%B1-%D8%AA%D8%B3%D8%B9%D9%89-%D9%84%D8%B7%D8%B1%D8%AD-%D8%B1%D8%A8%D8%B9-%D8%A3%D8%B3%D9%87%D9%85%D9%87%D8%A7-%D9%81%D9%8A-%D8%A8%D9%88%D8%B1%D8%B5%D8%A9-%D9%85%D8%B5%D8%B1\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The company expects to tap an advisor in early 2025, Sabbour said, adding that the final decision on the exact stake to be offered rests with the board and the chosen advisor. The company\u2019s ownership is split between the National Bank of Egypt, which holds a 40% stake, and the Sabbour family, which owns the remaining 60%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Sabbour told the media back in July that the company was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6a6ce846-5bb8-4638-ba08-f657afe1960e\/\" style=\"\" rel=\"noopener\">in talks with<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6a6ce846-5bb8-4638-ba08-f657afe1960e\/\" style=\"\" rel=\"noopener\">undisclosed advisors<\/a> regarding its plans to go public, adding that preparations are expected to wrap up by March 2025<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IPO has been in the pipeline for a while:<\/strong> It was reported in October 2017 that the company would <a target=\"_blank\" href=\"https:\/\/enterprise.press\/stories\/2017\/10\/26\/al-ahly-sabbour-planning-ipo-within-the-year\/\" style=\"\" rel=\"noopener\">list its shares<\/a> on the bourse within a year.<\/p>\n<p class=\"tag-border-left\">WHAT\u2019S THE FAIR VALUE OF UNITED BANK- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>United Bank establishes fair value of shares ahead of approaching IPO:<\/strong> Central Bank of Egypt-owned United Bank\u2019s shares have a fair value of EGP 15.73, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1736.pdf\" style=\"\" rel=\"noopener\">IPO prospectus (pdf)<\/a> published on the EGX yesterday. This price would the value the total offering at EGP 5.2 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is more than what the lender has penciled in for its IPO: <\/strong>The lender had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2ac297e0-bf51-431c-a4ca-1efc1b948037\/%253cmark%253eunited-bank%253c%2Fmark%253e-eyes-raising-up-to-egp-5.1-bn-in-upcoming-ipo\" style=\"\" rel=\"noopener\">set an<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2ac297e0-bf51-431c-a4ca-1efc1b948037\/%253cmark%253eunited-bank%253c%2Fmark%253e-eyes-raising-up-to-egp-5.1-bn-in-upcoming-ipo\" style=\"\" rel=\"noopener\">indicative price<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2ac297e0-bf51-431c-a4ca-1efc1b948037\/%253cmark%253eunited-bank%253c%2Fmark%253e-eyes-raising-up-to-egp-5.1-bn-in-upcoming-ipo\" style=\"\" rel=\"noopener\">range<\/a> of EGP 12.70-15.60 per share for its upcoming IPO on the EGX, potentially raising between EGP 4.2-5.1 bn. The final offer price will be determined through the bookbuilding process. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong>The lender revealed its intention to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8d79ff05-21fa-44eb-9911-9f2eeb114ae7\/\" style=\"\" rel=\"noopener\">float 330 mn of its sharee<\/a> \u2014 equivalent to a 30% stake \u2014 on the EGX last month, with plans to to make its EGX debut before the end of the year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> CI Capital will act as sole global coordinator and bookrunner for the offering, while Helmy, Hamza &amp; Partners \u2014 Baker McKenzie\u2019s Cairo office \u2014 has been appointed as counsel. Baker Tilly is independent financial advisor and Ernst &amp; Young (EY) is auditor.<\/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\/al-ahly-sabbour\/\">Al Ahly Sabbour<\/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\/united-bank\/\">United Bank<\/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=\"655469\" 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=\"655469\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/19\/beltone-holding-palm-hills-developmentsvodafone-egypt-and-raya-cx-report-earnings\/\">\r\n                            Beltone Holding, Palm Hills Developments,Vodafone Egypt, and Raya CX report earnings                        <\/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\/11\/19\/beltone-holding-palm-hills-developmentsvodafone-egypt-and-raya-cx-report-earnings\/\" 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\/11\/19\/beltone-holding-palm-hills-developmentsvodafone-egypt-and-raya-cx-report-earnings\/')\">\n               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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1511.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1511.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1511.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1511.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655469\" class=\"content-area-description single-story post-655469 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-beltone-holding tag-earnings tag-earnings-watch tag-enterpriseam tag-palm-hills-developments tag-raya-cx tag-raya-holding tag-real-estate tag-vodafone-egypt 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\/11\/.70412a9d-a69b-42bd-929e-e5504aaf37ba.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>More earnings come in: <\/strong>Our friends at Beltone Holding, Palm Hills Developments, Vodafone Egypt, and Raya CX reported their 3Q and 9M earnings for 2024. <\/p>\n<p class=\"tag-border-left\">BELTONE\u2019S INCOME CROSSES THE EGP 1 BN MARK IN 9M- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another all time high for Beltone:<\/strong> Beltone Holding recorded EGP 1.1 bn in net income during the first nine months of the year, up from EGP 86 mn during the same period last year, it said in its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1700.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a> and accompanying <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1672.pdf\" style=\"\" rel=\"noopener\">statement (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1672.pdf\" style=\"\" rel=\"noopener\">pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1672.pdf\" style=\"\" rel=\"noopener\">)<\/a>. Revenues were up 405% y-o-y during the nine-month period to record EGP 4.8 bn thanks to \u201csolid financial and operational performance across all business lines.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company\u2019s NBFIs drove growth:<\/strong> Operating revenues from its NBFIs segment were up 757% y-o-y to record EGP 3.9 bn during 9M 2024, with outstanding portfolio jumping over EGP 18.7 bn on the back of \u201cincreased business activity and the expansion of its product portfolio that includes, leasing, factoring, consumer, micro, mortgage, and the newly-launched SME financing.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Growth across the board: <\/strong>Beltone Venture Capital reported some EGP 213.4 mn in revenues during 9M 2024. Its investment bank saw its operating revenues grow 282% y-o-y to record EGP 852 mn in the same period, \u201cdriven by the expansion of brokerage operations, alternative advisory solutions, and higher asset management performance fees.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a quarterly basis: <\/strong>The company saw a 198% y-o-y jump in revenues during the third quarter of the year to record EGP 1.9 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cThis solid financial and operational performance across all business lines is a direct result of the group\u2019s swift and adaptable data-driven business model, its fully-fledged product offering, and its extraordinary talent.\u201d Group CEO Dalia Khorshid said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- Beltone last year turned the boat around following three years of losses: <\/strong>Last year was a turning point for Beltone after Abu Dhabi-based investment firm Chimera acquired a majority stake in the company in October 2022 and brought in Dalia Khorshid as CEO. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/144ac888-326d-49ec-b9f7-1598214cbdcd\/%253cmark%253ebeltone%253c%2Fmark%253e-turns-profitable-in-2023\" style=\"\" rel=\"noopener\">The turnaround<\/a> has included a full new management team, a full book of new policies and procedures, a record rights issue to recapitalize the business, and its transformation into a data-driven organization.<\/p>\n<p class=\"tag-border-left\">PALM HILLS POSTS A 47% RISE IN NET INCOME IN 3Q-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Palm Hills Developments saw its bottom line rise 47% y-o-y to EGP 649 mn <\/strong>during 3Q 2024, according to its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1685.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Revenues surged 61% y-o-y to reach EGP 7 bn during the quarter. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A record-breaking quarter: <\/strong>The company recorded total sales of EGP 65 bn during the quarter \u2014 its highest ever \u2014 up from EGP 15 bn during the same period last year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 9M basis: <\/strong>The company reported a 124% y-o-y increase in net income during the first nine months of the year to record EGP 2.4 bn. Revenues during the same period grew 59% y-o-y to EGP 18 bn, fueled by higher new sales volumes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company\u2019s sales were up 3.8x y-o-y<\/strong> in 9M 2024 to reach EGP 130.3 bn, supported by strong performance across all operating regions. West Cairo sales grew 166% y-o-y to record EGP 19.9 bn, Badya sales came in at EGP 14 bn during the nine-month period, and East Cairo sales came in at EGP 8.9 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What's next?<\/strong> \u201cWe are expanding our hospitality portfolio with the addition of 200 rooms at Casa Cook hotel in our premium project Hacienda White on the North Coast, along with our 250 rooms Ritz-Carlton Hotel Palm Hills in West Cairo. These 450 rooms are only the start of 2k rooms that we are planning to add in the coming four years,\u201d Executive Chairman Yasseen Mansour said.<\/p>\n<p class=\"tag-border-left\">VODAFONE EGYPT REVENUES HIT EGP 37.7 BN- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Vodafone Egypt\u2019s revenues hit EGP 37.7 bn in the six-month period ending 30 <\/strong><strong>September<\/strong>, according to its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1735.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a>. The company hit a record 50 mn customers during the period, with Vodafone Cash recording 9.6 mn active users in the same period. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cThe results reflect our growth and strong performance as we provide connectivity for all, enable digital and financial inclusion, deliver bold purposeful initiatives and lead on Egypt\u2019s digital transformation through innovation, towards a digital, inclusive and greener society,\u201d CEO Mohamed Abdallah said in a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/mohamed-abdallah-601b6817_vodafone-egypt-half-year-results-2024-activity-7264246418700161024-WyhY\/?utm_source=share&amp;utm_medium=member_ios\" style=\"\" rel=\"noopener\">LinkedIn post<\/a>.<\/p>\n<p class=\"tag-border-left\">RAYA CX POSTS STRONG GROWTH IN 3Q AND 9M- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Raya Customer Experience reported a 51.7% y-o-y increase in net income to EGP <\/strong><strong>76.5 mn in 3Q 2024,<\/strong> with revenues also rising 37.8% y-o-y to EGP 634.1 mn, according to its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1723.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The company attributed its strong results for the period to its \u201cfocus on innovation, operational excellence, and customer-centricity,\u201d which allowed it to \u201ccapitalize on evolving market dynamics with confidence and resilience.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 9M basis: <\/strong>The company\u2019s net income rose 143.3% y-o-y to EGP 321.9 mn in 9M 2024. Raya Customer Experience\u2019s topline also increased 38.3% y-o-y to EGP 1.9 bn, with USD-denominated revenue making up 74.5% of revenues, compared to 68.4% in the same period last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the growth: <\/strong>Raya\u2019s business process outsourcing segment \u2014 its largest business segment by revenue \u2014 saw growth of 26.1% y-o-y in 9M 2024 to record EGP 1.1 bn in revenues. The firm\u2019s hosting services also saw a 111.9% y-o-y jump in the first nine months of the year to EGP 535 mn. FX-driven revenue also helped mitigate the effects of currency volatility amid March\u2019s EGP devaluation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking forward:<\/strong> CEO Alaa Elkhishen noted Raya Customer Experience\u2019s plans to grow in the region and beyond in the coming period, saying that \u201cwe are making strategic moves toward fully utilizing our Dubai and KSA facilities, while assessing additional delivery facility opportunities in the GCC to reinforce our footprint in these high-potential markets.\u201d Elkhishen also noted the company\u2019s growth strategy in Europe, where the company is \u201cexploring opportunities to further expand our market share, tap into new revenue streams, and attract Western clients.\u201d<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone-holding\/\">Beltone Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palm-hills-developments\/\">Palm Hills Developments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya-cx\/\">Raya CX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya-holding\/\">Raya Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vodafone-egypt\/\">Vodafone Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655471\" 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=\"655471\">\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\/11\/19\/access-tomorrow-with-mounir-nakhla\/\">\r\n                            Access Tomorrow with Mounir Nakhla                        <\/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\/11\/19\/access-tomorrow-with-mounir-nakhla\/\" 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\/11\/19\/access-tomorrow-with-mounir-nakhla\/')\">\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\/11\/19\/access-tomorrow-with-mounir-nakhla\/\">\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=Access Tomorrow with Mounir Nakhla&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/19\/access-tomorrow-with-mounir-nakhla\/\">\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\/11\/19\/access-tomorrow-with-mounir-nakhla\/&title=Access Tomorrow with Mounir Nakhla\">\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=Access+Tomorrow+with+Mounir+Nakhla+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F19%2Faccess-tomorrow-with-mounir-nakhla%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\/11\/19\/access-tomorrow-with-mounir-nakhla\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1743.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655472\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/19\/access-tomorrow-with-mounir-nakhla\/1743-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1743.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1743.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1743.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1743.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655471\" class=\"content-area-description single-story post-655471 post type-post status-publish format-standard has-post-thumbnail hentry category-a-message-from-visa tag-a-message-from-visa tag-enterpriseam tag-visa 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\/11\/.f20cb98f-592d-4b2f-8d6b-7ad77ba01cae.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">In the latest edition of Visa\u2019s podcast, \u201cAccess Tomorrow\u201d, <strong>Mounir Nakhla, CEO of MNT Halan<\/strong>, joined by <strong>Leila Serhan<\/strong>, <strong>Visa\u2019s Senior Vice President and Group Country Manager, North Africa, Levant, and Pakistan<\/strong>, to weigh in on how his fintech platform is fueling financial inclusion in Egypt and expanding through physical locations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>After pivoting from ride-hailing<\/strong>, MNT Halan has built advanced banking technology, focusing on customer-centric services, data-driven credit scoring, and regional expansion. Mounir highlighted the key role of digital identities in future growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Listen to the podcast <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=tfZ7OwXN2ps\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=tfZ7OwXN2ps\" style=\"\" rel=\"noopener\">here<\/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\/a-message-from-visa\/\">A MESSAGE FROM VISA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/visa\/\">Visa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655473\" 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=\"655473\">\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\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/19\/el-nasr-auto-and-al-safy-group-form-auto-assembly-jv-with-usd-40-mn-in-initial-investments\/\">\r\n                            Egypt\u2019s El Nasr Auto and Al Safy Group form auto assembly JV with USD 40 mn in initial investments                        <\/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\/11\/19\/el-nasr-auto-and-al-safy-group-form-auto-assembly-jv-with-usd-40-mn-in-initial-investments\/\" 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\/11\/19\/el-nasr-auto-and-al-safy-group-form-auto-assembly-jv-with-usd-40-mn-in-initial-investments\/')\">\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\/11\/19\/el-nasr-auto-and-al-safy-group-form-auto-assembly-jv-with-usd-40-mn-in-initial-investments\/\">\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=El Nasr Auto and Al Safy Group form auto assembly JV with USD 40 mn in initial investments&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/19\/el-nasr-auto-and-al-safy-group-form-auto-assembly-jv-with-usd-40-mn-in-initial-investments\/\">\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\/11\/19\/el-nasr-auto-and-al-safy-group-form-auto-assembly-jv-with-usd-40-mn-in-initial-investments\/&title=El Nasr Auto and Al Safy Group form auto assembly JV with USD 40 mn in initial investments\">\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=El+Nasr+Auto+and+Al+Safy+Group+form+auto+assembly+JV+with+USD+40+mn+in+initial+investments+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F19%2Fel-nasr-auto-and-al-safy-group-form-auto-assembly-jv-with-usd-40-mn-in-initial-investments%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\/11\/19\/el-nasr-auto-and-al-safy-group-form-auto-assembly-jv-with-usd-40-mn-in-initial-investments\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1773.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655474\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/19\/el-nasr-auto-and-al-safy-group-form-auto-assembly-jv-with-usd-40-mn-in-initial-investments\/1773-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1773.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1773.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1773.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1773.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655473\" class=\"content-area-description single-story post-655473 post type-post status-publish format-standard has-post-thumbnail hentry category-automotive tag-al-safy-group tag-automotive tag-el-nasr-automotive tag-enterpriseam tag-manufacturing 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\/11\/.2348a76d-b933-4bde-9519-e93cc26c64f5.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>El Nasr Automotive\u2019s comeback revs the accelerator pedal:<\/strong> State-owned El Nasr Automotive and the privately held Al Safy Group have set up a joint venture \u2014 dubbed SN Automotive \u2014 to assemble global car brands locally to sell in Egypt and export to other North African nations, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1669.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. After being established with EGP 500 mn in capital at the beginning of this year, the JV has now had initial investments of USD 40 mn, with further investments planned to expand operations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Safy is the one in the driving seat: <\/strong>Al Safy holds a 76% stake in the venture, while El Nasr owns the remaining 24%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The first three models will be launched next year:<\/strong> SN Automotive has already secured a contract with a major unnamed Chinese automaker and plans to launch three locally assembled models \u2014 one electric and two gasoline-powered \u2014 by mid-2025, with the company already having contracted automated welding lines for these models. The plants\u2019 launch next year will also see SN Automotive announce a second partnership with another foreign automaker, according to the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>El Nasr this week officially <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e231a5e8-5a06-41ad-9464-d0385800c699\/\" style=\"\" rel=\"noopener\">restarted operations<\/a> after a 15-year hiatus, delivering its first batch of electric 49-passenger buses in partnership with China\u2019s Yutong to Transport Ministry-affiliated companies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s doing what?<\/strong> Al Safy is set to oversee the entire supply chain, from importing parts and securing local components to distributing cars, managing dealerships, and providing after-sales services. El Nasr will be responsible for manufacturing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Deepening local industry: <\/strong>The partnership aims to increase the percentage of local components in manufactured cars from 49% to more than 60% \u2014 set to further efforts to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c1ed2652-13a2-4dbb-ad35-647e35adcae1\/\" style=\"\" rel=\"noopener\">deepen auto industry localization<\/a> in the coming years.<\/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\/al-safy-group\/\">Al Safy Group<\/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\/el-nasr-automotive\/\">El Nasr Automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655475\" 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=\"655475\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/19\/local-ins-startup-amenli-secures-usd-2-3-mn-in-funding\/\">\r\n                            Egyptian ins. startup Amenli secures USD 2.3 mn in funding                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1771.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655476\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/19\/local-ins-startup-amenli-secures-usd-2-3-mn-in-funding\/1771-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1771.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1771.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1771.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1771.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655475\" class=\"content-area-description single-story post-655475 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam tag-insurance tag-non-banking-financial-services tag-startup-watch 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\/11\/.8d1fd25e-60ea-44e9-be22-625427684501.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Local ins. startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.amenli.com\/?src=s8c3a7&amp;gad_source=1&amp;gclid=Cj0KCQiA6Ou5BhCrARIsAPoTxrCZIxmjEFknHAzEvSktj7DpyxC2Hfaqy7Jd2mcujyhJ-7OO035wYCgaAiTXEALw_wcB\" style=\"\" rel=\"noopener\">Amenli<\/a><\/strong><strong> raised USD 2.3 mn in its latest funding round<\/strong> led by the European Bank for Reconstruction and Development\u2019s venture capital arm with additional funding from existing investor <a target=\"_blank\" href=\"https:\/\/www.ycombinator.com\/\" style=\"\" rel=\"noopener\">Y Combinator<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/amenli-secures-23mln-investment-to-accelerate-growth-in-egypts-insurance-market-s4mpf081\" style=\"\" rel=\"noopener\">press release<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where will the funds go?<\/strong> The funds will help the company enhance its technological infrastructure, broaden its distribution channels, and invest in digital product development.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Amenli<\/strong><strong>:<\/strong> Founded in 2020, Amenli is an online ins. brokerage that connects individuals and SMEs with ins. providers. The startup aims to increase ins. penetration in the local market to 5% to USD 20 bn in market size. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Leveraging AI solutions: <\/strong>\u201cWith our technology infrastructure firmly established, we're now focused on evolving it with advanced capabilities, including AI-driven innovations. This approach allows us to amplify efficiencies within our operations, elevate the customer experience, and drive intelligent automation at scale,\u201d co-founder and CTO Adham Nauman said. <\/p>\n<p class=\"tag-border-left\">A FINTECH REGULATORY SANDBOX- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fintech regulatory sandbox announced during Cairo ICT: <\/strong>The Financial Regulatory Authority launched a regulatory sandbox for the non-banking financial sector, allowing startups to test innovative solutions under regulatory oversight, authority head Mohamed Farid <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/story.php?story_fbid=1073887128115040&amp;id=100064812882317&amp;_rdr\" style=\"\" rel=\"noopener\">said<\/a> during Cairo ICT 2024.<\/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\/insurance\/\">insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655477 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=\"655477\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/19\/655477\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655477\" class=\"content-area-description single-story post-655477 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\/SodicContactUs\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2301.jpeg?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=\"655478\" 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=\"655478\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/19\/egypt-in-talks-to-push-back-lng-shipments-on-the-back-of-limited-regasification-capacity-sufficient-domestic-supply-plus-ghabbour-foundation-investing-for-employment-infinity-recharged-mounta\/\">\r\n                            Egypt in talks to push back LNG shipments on the back of limited regasification capacity, sufficient domestic supply. PLUS: Ghabbour Foundation + Investing for Employment, Infinity + Recharged, Mountain View, eNovate + Mastercard                        <\/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\/11\/19\/egypt-in-talks-to-push-back-lng-shipments-on-the-back-of-limited-regasification-capacity-sufficient-domestic-supply-plus-ghabbour-foundation-investing-for-employment-infinity-recharged-mounta\/\" 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\/11\/19\/egypt-in-talks-to-push-back-lng-shipments-on-the-back-of-limited-regasification-capacity-sufficient-domestic-supply-plus-ghabbour-foundation-investing-for-employment-infinity-recharged-mounta\/')\">\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\/11\/19\/egypt-in-talks-to-push-back-lng-shipments-on-the-back-of-limited-regasification-capacity-sufficient-domestic-supply-plus-ghabbour-foundation-investing-for-employment-infinity-recharged-mounta\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt in talks to push back LNG shipments on the back of limited regasification capacity, sufficient domestic supply. 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PLUS: Ghabbour Foundation + Investing for Employment, Infinity + Recharged, Mountain View, eNovate + Mastercard\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+in+talks+to+push+back+LNG+shipments+on+the+back+of+limited+regasification+capacity%2C+sufficient+domestic+supply.+PLUS%3A+Ghabbour+Foundation+%2B+Investing+for+Employment%2C+Infinity+%2B+Recharged%2C+Mountain+View%2C+eNovate+%2B+Mastercard+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F19%2Fegypt-in-talks-to-push-back-lng-shipments-on-the-back-of-limited-regasification-capacity-sufficient-domestic-supply-plus-ghabbour-foundation-investing-for-employment-infinity-recharged-mounta%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\/11\/19\/egypt-in-talks-to-push-back-lng-shipments-on-the-back-of-limited-regasification-capacity-sufficient-domestic-supply-plus-ghabbour-foundation-investing-for-employment-infinity-recharged-mounta\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/483.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655479\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/19\/egypt-in-talks-to-push-back-lng-shipments-on-the-back-of-limited-regasification-capacity-sufficient-domestic-supply-plus-ghabbour-foundation-investing-for-employment-infinity-recharged-mounta\/483-jpg-23\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/483.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"483.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/483.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/483.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655478\" class=\"content-area-description single-story post-655478 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-5g tag-also-on-our-radar tag-e-cards tag-e-finance tag-e tag-energy tag-enterpriseam tag-evs tag-fintech tag-gb-corp tag-ghabbour-foundation tag-infinity tag-investment-watch tag-manufacturing tag-mastercard tag-mountain-view tag-oil-and-gas tag-real-estate tag-solar-power 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\/11\/.01ec316a-9b82-4b16-b7f9-11a56aa0e07a.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">ENERGY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Oil Ministry is <\/strong><strong>in talks<\/strong><strong> with suppliers to postpone LNG shipments<\/strong> from 4Q 2024 to 1Q 2025, a government source told EnterpriseAM. The shipments are part of the 20 cargoes of LNG that the government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/da0fab5f-79e9-4d82-b4ca-ed6f42f04eeb\/\" style=\"\" rel=\"noopener\">bought<\/a> for USD 907 mn to cover domestic needs between October and December. The news was first picked up by <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/11\/18\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%A4%D8%AC%D9%84-%D8%A7%D8%B3%D8%AA%D9%84%D8%A7%D9%85-%D8%B4%D8%AD%D9%86%D8%A7%D8%AA-%D8%BA%D8%A7%D8%B2-%D9%88%D9%85%D8%A7%D8%B2%D9%88%D8%AA-%D8%A7%D9%84%D9%89-%D8%A7%D9%84%D8%B1%D8%A8%D8%B9-%D8%A7%D9%84%D8%A3%D9%88%D9%84-%D9%85%D9%86-2025\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale:<\/strong> The ministry\u2019s decision comes on the back of limited regasification capacity and sufficient domestic supply of natural gas, a government source told EnterpriseAM.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re about to start leasing another floating storage regasification unit: <\/strong>Egypt will begin leasing a floating storage regasification unit at the start of 2025, our source said, without providing any further details.<\/p><p class=\"tag-border-left\">REAL ESTATE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mountain<\/strong> <strong>View expands into Saudi market with SAR 1.2 bn investment:<\/strong> Egyptian real estate developer Mountain View has entered the Saudi market with a SAR 1.2 bn investment that will see the developer construct 500 housing units in the kingdom, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1770015\" style=\"\" rel=\"noopener\">Argaam<\/a> reports. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We saw this coming:<\/strong> Back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44d3bb58-4d45-40aa-8114-ac3553330773\/tatweer-misr,%253cmark%253e-mountain-view%253c%2Fmark%253e-prepare-for-ksa-expansions\" style=\"\" rel=\"noopener\">September<\/a>, Mountain View announced that it would be introducing its first project \u2014 developed in partnership with local developers Maya Real Estate Development and Investment and Al Saedan Real Estate \u2014 to the kingdom by November.<\/p><p class=\"tag-border-left\">EVs-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Infinity and Recharged offer home EV charging solutions:<\/strong> Our friends at renewables company Infinity Capital have inked a strategic partnership with EV charging product manufacturer <a target=\"_blank\" href=\"https:\/\/rechargedeg.com\/\" style=\"\" rel=\"noopener\">Recharged<\/a> to establish a JV that will manufacture and sell home EV chargers, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1747.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The venture aims to produce an affordable and reliable home charging solution appropriate for the mass market, with the broader aim of supporting Egypt\u2019s shift toward sustainable transportation.<\/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- Ghabbour Foundation and IFE launch workshops to boost Egypt\u2019s EV industry:<\/strong> GB Corp\u2019s Ghabbour Foundation for Development and Germany\u2019s Investing for Employment (IFE) have launched advanced workshops for electric vehicle maintenance funded by a EUR 1 mn IFE grant, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1712.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The project will train and employ ten trainers that will then go on to reach a targeted 700 workshop participants. We first heard about the project when IFE <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7f3a63b3-8bfa-4790-b06a-147a5c98fcdc\/aman-wants-to-launch-in-saudi-arabia-within-3-months.-plus:-money-gb-auto-%2B-dara%25e2%2580%2599s-ice-cream,-finmin-appoints-sukuk-company-board\" style=\"\" rel=\"noopener\">greenlit the grant<\/a> in March of last year<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\"This ambitious training program aims to bridge the gap between technical education outputs and labor market requirements by offering intensive practical training using the latest technologies and equipment,\u201d Ghabbour Foundation Secretary-General George Sedky said in the statement. \u201cWe aim to qualify youth and professionals with the necessary tools and training programs to develop a more skilled workforce. This initiative aligns with the Egyptian government's efforts to enhance local manufacturing and establish a localized electric vehicle industry.\u201d<\/p><p class=\"tag-border-left\">RENEWABLES-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another solar cells factory could be in the works soon:<\/strong> The Madbouly government is working towards the signing of a memorandum of understanding with an unnamed Emirati solar energy firm along with a Chinese partner to establish a factory for the production of solar cells, according to an Industry Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02EPj9HWxiV5ipnegBWFfKzNSjpzbxF4ska5HKqCRFVdzvjLmcxjrSMygYZxaifLYZl\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Solar cells are among <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0c63a1e3-9d75-4490-864e-ba087d245a77\/egypt-wants-to-localize-the-manufacture-of-12-products\" style=\"\" rel=\"noopener\">12 products<\/a> the government is working to localize the manufacture of, after having been selected by the ministries of housing and industry to help Egyptian industry adjust to meet the EU\u2019s approaching Carbon Border Adjustment Mechanism (CBAM) standards. The list also includes electric motors, generators, valves, pumps, water filtration devices, electric tools, electrical control and power distribution panels, and elevators.<\/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>eNovate partners with Mastercard to launch CaaS in Egypt: <\/strong>State-owned fintech player E-finance\u2019s subsidiary eNovate \u2014 formerly eCards \u2014 has partnered with Mastercard to introduce Card-as-a-Service (CaaS) in Egypt, according to a statement seen by EnterpriseAM. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart: <\/strong>CaaS is a turnkey solution that enables banks, NBFIs, fintechs, and pretty much any other company or entity to create, issue, and manage payment cards themselves. By looking to a third-party provider \u2014 in this case, Mastercard \u2014 businesses can do away with having to build the underlying infrastructure themselves and can outsource the complexity of card issuance, transaction processing, compliance, and security \u2014 cutting down on both heavy investment costs and the time needed to get these products to market.<\/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\/5g\/\">5G<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-cards\/\">e-Cards<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-finance\/\">e-finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e\/\">e&amp;<\/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\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-corp\/\">GB Corp<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ghabbour-foundation\/\">Ghabbour Foundation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infinity\/\">Infinity<\/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\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mastercard\/\">Mastercard<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mountain-view\/\">Mountain View<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655480\" class=\"issue-section markets\">\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=\"655480\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/19\/international-investors-are-increasingly-interested-in-mena-startups\/\">\r\n                            International investors are increasingly interested in MENA startups                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div 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data-image-title=\"1765.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1765.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1765.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655480\" class=\"content-area-description single-story post-655480 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-magnitt tag-planet-finance tag-startups tag-venture-capital 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\/11\/.85b72866-fb5f-4878-bc5e-2f1e2b0e8148.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Internatio<\/strong><strong>nal investor interest in the MENA startups is heating up:<\/strong> MENA startups have witnessed a surge in international investor activity in 9M 2024, with the region\u2019s 28% y-o-y increase in unique investors positioning it as the fastest growing arena for international venture capital across Southeast Asia, Africa, and the Middle East during the first nine months of the year, according to Magnitt\u2019s latest <a target=\"_blank\" href=\"https:\/\/magnitt.com\/research\/2020-to-Q3-2024-How-Are-Global-Investors-Shaping-Emerging-Venture-Markets-Premium-Report-50963?utm_source=press&amp;utm_medium=marketing&amp;utm_campaign=2024flagshipreports\" style=\"\" rel=\"noopener\">I<\/a><a target=\"_blank\" href=\"https:\/\/magnitt.com\/research\/2020-to-Q3-2024-How-Are-Global-Investors-Shaping-Emerging-Venture-Markets-Premium-Report-50963?utm_source=press&amp;utm_medium=marketing&amp;utm_campaign=2024flagshipreports\" style=\"\" rel=\"noopener\">nternational Investor Evolution Report<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The broad strokes: <\/strong>The MENA region\u2019s overall growth in investor activity was driven by a 60% y-o-y increase in international investors in the region\u2019s startups \u2014 particularly those from the US and UK, the report writes. International venture capitalists also doubled their capital share in the region during 9M 2024 compared to the same period last year, reaching 37% of deployed capital. The growth was also driven by higher interest investing in early-stage startups, with series A transactions capturing 50% of international capital share in 9M 2024, up from just 15% in 9M 2023. Moreover, the MENA region has seen international venture capitalists\u2019 share of participation rise from 28% in 2020 to 51% in 2024, according to a separate <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1720.pdf\" style=\"\" rel=\"noopener\">Magnitt press release (pdf)<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Within the region, Egypt and the UAE led this investor influx: <\/strong>Egypt saw a 32% y-o-y increase in unique investors in 9M 2024, underpinned by a 79% y-o-y rise in local venture capitalists and significant contributions from the UK. The UAE also made significant strides in attracting international venture capital, with the report noting that the UAE saw a 24% y-o-y increase in unique investors during 9M 2024 \u2014 largely driven by a doubling of US-based participants.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite recent gains, the region continues to lag behind on aggregate: <\/strong>Recent progress notwithstanding, MENA startups continue to lag behind Southeast Asia and Africa in terms of total venture capital deployed, with the region registering USD 947 mn in deployed capital to Africa\u2019s USD 1.2 bn and Southeast Asia\u2019s USD 11.7 bn in 9M 2024.<\/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 markets are kicking the day off in the green during early trading this morning<\/strong>, with Japan\u2019s Nikkei up 0.5%, followed by Hong Kong\u2019s Hang Seng and Korea\u2019s Kospi both at 0.3%. Over in China, the Shanghai index is down 0.4%.<\/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\">30,864<\/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\">-1.2% (YTD: +24.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td 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 49.37<\/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 49.50<\/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>USD (CIB)<\/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 49.37<\/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 49.47<\/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-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>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\">11,830<\/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: -1.1%)<\/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>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\">9,387<\/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: -2.0%)<\/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\">4,713<\/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: +16.1%)<\/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>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\">5,894<\/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: +23.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td 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\">8,109<\/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: +4.9%)<\/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>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\">4,790<\/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: +6.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td 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 73.30<\/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\">+3.2%<\/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>Natural gas (Nymex)<\/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 2.95<\/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%<\/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>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 2,616.50<\/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\">+1.8%<\/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>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 91,265.40<\/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\">+2.4% (YTD: +115.8%)<\/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 1.2% at yesterday\u2019s close<\/strong> on turnover of EGP 3.5 bn (16.4% below the 90-day average). Local investors were the sole net sellers. The index is up 24.0% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Faisal Islamic Bank -EGP (+6.3%), Juhayna (+4.3%), and Cleopatra Hospitals (+1.0%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Palm Hills Development (-4.0%), Oriental Weavers (-3.6%), and Emaar Misr (-3.3%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/magnitt\/\">MAGNiTT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> 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                <\/a>\r\n                        \n<article id=\"post-655482\" class=\"content-area-description post-655482 goinggreen type-goinggreen status-publish has-post-thumbnail hentry category-going-green tag-climate-change tag-enterpriseam tag-going-green tag-startups wpautop entry\">\n\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\"> <strong>Local projects offer innovative food security and renewable solutions: <\/strong>As Egypt scales up its climate adaptation efforts, the recently announced winners of the Adaptation Fund Climate Innovation Accelerator (AFCIA) offer a timely opportunity for understanding how the country is currently addressing its most pressing climate challenges. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AFCIA? <\/strong>The <a target=\"_blank\" href=\"https:\/\/innovation.wfp.org\/climate-adaptation-innovation-accelerator-programme#:~:text=This%20partnership%20between%20the%20WFP,youth%2C%20and%20increase%20community%20resilience.\" style=\"\" rel=\"noopener\">accelerator<\/a> targets \u201clow- and high-tech solutions specifically tailored to meet distinct climate adaptation challenges in Egypt, Jordan and Lebanon along the food system value chain.\u201d The Adaptation Fund-backed accelerator is organized by the World Food Programme (WFP) and done in collaboration with the Planning and International Cooperation Ministry in Egypt. EnterpriseAM spoke to WFP in Egypt\u2019s Head of Programme Amani Gamaleldin to learn more about the accelerator and its winners. <strong>Edited excerpts from our conversation: <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The AFCIA will take ten teams to a bootcamp in Germany before the end of the year<\/strong>, which will be followed by a nine-month rollout starting January 2025 and culminating in a global pitch event planned for November 2025. Each team will receive up to USD 200k to scale its solution in vulnerable communities. While active in Egypt, Lebanon, and Jordan, the program focuses its efforts in Egypt through a partnership with the Planning Ministry and the <a target=\"_blank\" href=\"https:\/\/climatechrun.com\/\" style=\"\" rel=\"noopener\">ClimaTech Run network<\/a> to engage local climate-tech innovators. Focusing on rural areas, the AFCIA targets affordable climate information services, off-grid groundwater desalination, smart irrigation systems, and climate-adaptive livelihoods to build resilience and create youth employment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Local renewable energy firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/noornation.com\/\" style=\"\" rel=\"noopener\">NoorNation<\/a><\/strong><strong> and biotech startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/p-vita\/\" style=\"\" rel=\"noopener\">P-Vita<\/a><\/strong><strong> were among those <\/strong><strong>selected <\/strong>to \u201crepresent the forefront of innovative climate solutions designed to build resilience and support communities most affected by climate change.\u201d NoorNation\u2019s Solar Irrigation as a Service (SIaaS) model replaces outdated flood irrigation and diesel pumps with efficient, solar-powered systems, enabling farmers to pay per use and own the system in 5-7 years. This approach cuts costs, saves water, and slashes emissions. Meanwhile, P-Vita is transforming agricultural waste \u2014 like palm residues that would otherwise be burned \u2014 into valuable raw materials for the cosmetics and food industries, offering farmers a sustainable way to reduce pollution while producing affordable, locally sourced ingredients. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s AI-powered platform that supports precision agriculture with a focus on smart <\/strong><strong>irrigation <\/strong><strong><a target=\"_blank\" href=\"https:\/\/vais.ai\/\" style=\"\" rel=\"noopener\">Visual and AI Solutions<\/a><\/strong><strong> (VAIS) also made the list.<\/strong> The platform \u201chelps users manage water more efficiently, reducing waste and improving yields. It predicts crop diseases and stresses, allowing farmers to take early action. Additionally, it warns of adverse weather to protect crops and offers insights to improve crop health and boost profits.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What other projects were selected: <\/strong>The other projects selected by the accelerator include Adaptive Symbiotic Technologies (AST), which develops microbial solutions to help crops \u201cthrive under more difficult conditions making agriculture more sustainable and resilient in the face of climate change,\u201d innovative irrigation system provider Responsive Drip Irrigation Manufacturing (RDI), eco-friendly water tanks maker Deploy Tech, livestock management app Greener Herd, industrial solar oven solution Partners with Sun, bio-fertilizer producer Remer SAL, and the Lebanese DOODA Solutions, whose vermicompost production offers organic fertilizers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For a deeper dive into the selected projects<\/strong> check out the <a target=\"_blank\" href=\"https:\/\/wfpinnovation.medium.com\/meet-the-climate-innovators-ten-ventures-leading-adaptation-and-resilience-in-the-mena-region-300384ed0881\" style=\"\" rel=\"noopener\">release<\/a> published by the WFP Innovation Accelerator. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Climate adaptation vs. mitigation in Egypt:<\/strong> Mitigation tackles the root cause of climate change by cutting greenhouse gas emissions, but for Egypt, the immediate priority is adaptation \u2014 adjusting to present and future climate impacts. This need is particularly evident in the agricultural sector, where innovative solutions are essential to maintaining productivity and supporting rural livelihoods. With 90% of its water needs reliant on the Nile and agriculture contributing over 11% to GDP and 28% of employment, the stakes are high. Adaptation in this context involves finding ways to sustain crop yields and protect livelihoods despite rising temperatures and water shortages.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Agriculture adaptation is Egypt\u2019s top priority: <\/strong>The country is currently focusing its adaptation efforts on equipping smallholder farmers with climate-smart practices, improved market access, and sustainable inputs to maintain productivity. Key priorities include enhancing irrigation systems and adopting water-efficient technologies like drip irrigation to conserve water and guard against future shortages. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt has made strides in climate adaptation<\/strong>, rolling out initiatives and renewable energy projects to build resilience. As president of COP27, the country championed the Sharm El Sheikh Adaptation Agenda, targeting global resilience with solutions in agriculture, water management, and coastal protection \u2014 key areas for Egypt\u2019s climate strategy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How do adaptation efforts support the country\u2019s development goals?<\/strong> Egypt is collaborating with international partners like the WFP to align climate adaptation efforts with its long-term development goals, including Egypt Vision 2030 and the National Climate Change Strategy 2050. These partnerships focus on sustainable resource management and resilience-building, with smallholder farmers at the heart of adaptation priorities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Through the Decent Life initiative, WFP and the Agriculture Ministry have supported over <\/strong><strong>600k farmers by implementing solutions like cement-lined canals and drip irrigation<\/strong>, which reduce water loss by 55%, slash fuel costs by 50%, and lower maintenance expenses by 70%, helping farmers adapt to water scarcity. Other innovations include early warning systems that provide tailored five-day weather forecasts, cutting crop losses by 45%, and solar-powered irrigation systems that reduce reliance on diesel, which have lowered energy costs by 50%, and support the country\u2019s transition to rely more on renewable energy. These initiatives support Egypt\u2019s goal of having renewables make up <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9c204253-74bf-4487-ae7d-62ae0cb51bb5\/\" style=\"\" rel=\"noopener\">42% of the country\u2019s energy mix by 2030<\/a> and efforts to ensure food security, support rural livelihoods, and climate resilience.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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>Sustainable Debt Coalition in focus:<\/strong> Finance Minister Ahmed Kouchouk <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5ac9d7b8-dce9-4d90-8afe-c91437ad89c4\/what-is-the-sustainable-debt-coalition-doing-to-bridge-the-climate-finance-gap%3F\" style=\"\" rel=\"noopener\">joined a<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5ac9d7b8-dce9-4d90-8afe-c91437ad89c4\/what-is-the-sustainable-debt-coalition-doing-to-bridge-the-climate-finance-gap%3F\" style=\"\" rel=\"noopener\">discussion<\/a> on the Sustainable Debt Coalition last week during COP29. <\/li>\n<li><strong>Recycling cooperation?<\/strong> The Waste Management Regulatory Authority <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3ff21347-d743-473e-9a81-b39a9686b3b6\/hassan-allam-properties-buys-110k-sqm-of-el-gouna-from-orascom-development-for-usd-37.4-mn.-plus:-allianz-egypt,-tadweer,-chefaa,-luna,-didi\" style=\"\" rel=\"noopener\">inked an MoU<\/a> with Abu Dhabi's Tadweer to explore potential investments and partnerships in waste management and recycling. <\/li>\n<li><strong>Efforts to boost carbon market participation: <\/strong>The Egyptian Financial Regulatory Authority <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3ff21347-d743-473e-9a81-b39a9686b3b6\/hassan-allam-properties-buys-110k-sqm-of-el-gouna-from-orascom-development-for-usd-37.4-mn.-plus:-allianz-egypt,-tadweer,-chefaa,-luna,-didi\" style=\"\" rel=\"noopener\">has amended<\/a> the rules for registering and delisting carbon emission reduction certificates on the EGX to encourage more companies to participate.<\/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\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/startups\/\">startups<\/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=\"655484\" 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\/11\/19\/655484\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655484\" class=\"content-area-description single-story post-655484 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\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>17-19 November (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.autotechegypt.com\/en\/home.html\" style=\"\">Autotech Exhibition for Automotive Aftermarket & Feeder Industries<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt. <\/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>25-27 November (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/cit-fei.org\/conference-annual-nation-digital\" style=\"\">Annual Digital Nation Conference<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypt-energy.com\/en\/home.html\" style=\"\">Egypt Energy Show<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28-30 November (Thursday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.woodshowglobal.com\/cairo\" style=\"\">Cairo International Wood and Wood Machinery Show<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt<\/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 November (Friday): Egypt and Italy to launch a ro-ro shipping line connecting Damietta Port with Italy\u2019s Port of Trieste.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>29 November (Friday): Startup Sync, Cairo, Egypt. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 November (Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/almalnews.com\/premium\/%d9%85%d8%b1%d9%81%d9%82-%d8%a7%d9%84%d9%83%d9%87%d8%b1%d8%a8%d8%a7%d8%a1-%d9%85%d8%af-%d9%81%d8%aa%d8%b1%d8%a9-%d8%aa%d9%84%d9%82%d9%89-%d8%b7%d9%84%d8%a8%d8%a7%d8%aa-%d8%a7%d9%84%d9%85\/\" style=\"\">Deadline<\/a><\/span><span> to apply for renewable energy projects under the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5fe8f4bb-3a22-40ac-a502-6f18fb3420db\/\" style=\"\">peer-to-peer (P2P) system<\/a><\/span><span style=\"font-weight:400;\">.<\/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>15-17 December<\/span><span> (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/nebugoldexpo.com\/\" style=\"\">Nebu Expo for Gold & Jewelry<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16-17 December (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/miningconferences.org\/?gad_source=1&gclid=Cj0KCQjwpvK4BhDUARIsADHt9sTVcsDWTGxkNysGtI5XPnT0MFyamDuIerIl2V-j7l3upmN0pJDOSNoaAjLGEALw_wcB\" style=\"\">Mining World Conference 2024<\/a><\/span><span style=\"font-weight:400;\">, London, UK.<\/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>2H 2024: Gov\u2019t to launch the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8f7fd9b9-a159-4b31-b974-f809d55f55d9\/egyptian-telecom-providers-suspend-e-wallet-fx-payments\" style=\"\">Cairo Ring Road BRT buses<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3Q 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid04Z7JWbGbYGqFTr8kF2XNgc5Dq2cUR3hn25JDryhDjLnPJkYgaKaqbwzQr6A4QgB2l\" style=\"\">Egyptian-Armenian Joint Committee.<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>First week of November: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02ssjPZtZgtyuDjtqu6kXr1MpWTPFUnnFbPA8etz9LtXPrcjGgGnArn6sg1ryr4jEXl\" style=\"\">Egypt-Turkey high-level trade consultation mechanism.<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>November 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LLPJRjsu6SZLwtRHuLmCQxoAZB3xaXVXH8aYkMSEH3ae4aW6JCZaPe5h5u9nKmcRl\" style=\"\">Egypt to host<\/a><\/span><span style=\"font-weight:400;\"> 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>End of 2024: The launch of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sis.gov.eg\/Story\/192175\/Trial-Operation-of-the-Sokhna-El-Alamein-Matrouh-High-Speed-Train-Starts-by-the-End-of-this-Year?lang=en-us\" style=\"\">high-speed train<\/a><\/span><span style=\"font-weight:400;\"> 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>January<\/span><span style=\"font-weight:400;\"> 2025: CBE to launch InstaPay remittances for Egyptians abroad<\/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 January (Tuesday): Nigeria to inaugurate the USD 5 bn Africa Energy Bank in Abuja. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7-10 April 2025 (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.efghldg.com\/en\/conferences\" style=\"\">EFG Hermes One on One<\/a><\/span><span style=\"font-weight:400;\"> conference, Dubai, UAE. <\/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 2025: Egyptian Exporters Association (Expolink) exhibition, Italy.<\/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;\">July 2025: The first operational trail of Egypt-KSA electricity interconnection line.<\/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 2025: Operation of phase one of the Amotope 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: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>1H 2025: <\/span><span style=\"font-weight:400;\">Digital Financial Identity Company will launch an electronic bank account opening service<\/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;\">2025: The InterAcademy Partnership assembly.<\/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;\">2025: Nile Basin States Summit, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2Q 2025: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad18b775-3e22-4e6b-b4fc-9dd30f4b85ad\/abu-dhabi-ports-to-build-and-run%253cmark%253e-safaga-terminal%253c%2Fmark%253e,-cruise-ship-infrastructure\" style=\"\">Safaga Terminal 2<\/a><\/span><span style=\"font-weight:400;\"> 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:400;\">Mid-2025: The Administrative Capital for Urban Developments to roll out the second phase of offering industrial plots to investors. <\/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>20 January-7 February: Egypt to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f9a5a94-cc1c-4fc1-b8c6-7c02d15cae3b\/ramadan-kareem\" style=\"\">host the African Games<\/a><\/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 <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52aa0e65-5b6f-4c84-aa49-70ac4152bb87\" style=\"\">Dabaa nuclear power plant<\/a><\/span><span style=\"font-weight:400;\"> 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>Auto localization up a gear | The interest rate polls are in | Another IPO in the works | Hassan Allam tapped for Ras El Hekma projects<\/p>\n","protected":false},"featured_media":655458,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-655457","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"df5d0499-4f1d-4b3e-b6cb-f10b0d6eb10d","teaser":"Auto localization up a gear | The interest rate polls are in | Another IPO in the works | Hassan Allam tapped for Ras El Hekma projects","photo_url":"https:\/\/ent.news\/2024\/7\/566.jpg"},"yoast_head":"<!-- This site is optimized with the 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