{"id":657128,"date":"2024-12-16T00:00:00","date_gmt":"2024-12-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=657128"},"modified":"2025-12-18T02:06:18","modified_gmt":"2025-12-18T02:06:18","slug":"fra-hands-out-egypts-first-digital-factoring-license","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/fra-hands-out-egypts-first-digital-factoring-license\/","title":{"rendered":"FRA hands out Egypt\u2019s first digital factoring license"},"content":{"rendered":"<section id=\"657130\" 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=\"657130\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">What We're Tracking Today<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/house-approves-eur-1-bn-package-from-the-eu\/\">\r\n                            House approves EUR 1 bn package from the EU                        <\/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\/12\/16\/house-approves-eur-1-bn-package-from-the-eu\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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approves EUR 1 bn package from the EU&url=https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/house-approves-eur-1-bn-package-from-the-eu\/\">\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\/12\/16\/house-approves-eur-1-bn-package-from-the-eu\/&title=House approves EUR 1 bn package from the EU\">\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 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/house-approves-eur-1-bn-package-from-the-eu\/1696-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1696.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1696.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1696.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1696.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657130\" class=\"content-area-description single-story post-657130 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-house-of-representatives 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\/12\/.ebb9741a-c939-4749-bb0c-ed8910983a81.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, all.<\/strong> We have a packed issue for you this morning, so let\u2019s jump right in. <\/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\"><a id=\"wwtt3\"><\/a> <strong>#1- Investors can subscribe to CMPE\u2019s capital increase: <\/strong>Investors have between today and Thursday to subscribe to Impact investor Catalyst Partners\u2019 SPAC, Catalyst Partners Middle East\u2019 (CMPE) capital increase. The SPAC wants to raise its capital to EGP 235 mn by offering 22.5 mn shares \u2014 valued at EGP 10 per share. CPME is already gearing up for its first acquisition \u2014 we have the details in the news well below. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- It\u2019s day one of the Debt Management Forum for Africa: <\/strong>The African Development Bank\u2019s two-day <a target=\"_blank\" href=\"https:\/\/www.afdb.org\/en\/news-and-events\/events\/african-development-bank-launches-debt-management-forum-africa-demfa-holds-inaugural-policy-dialogue-79497\" style=\"\" rel=\"noopener\">Africa Debt Management Forum<\/a> kicks off today in Abuja, Nigeria. The forum brings together Africa finance ministers, central bank governors, debt managers, and experts to discuss debt sustainability and economic productivity. <\/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\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>It\u2019s another chilly day in Cairo, with a high of 21\u00b0C and a low of 11\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 just as cold in Alexandria<\/strong>, with a high of 21\u00b0C and a low of 12\u00b0C.<\/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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing, we looked at what the feeder industries need to strengthen local manufacturing. Check out the story <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5c9ac201-9eda-4d37-b5d9-2b31ec77ab73\/\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p class=\"tag-border-left\">SOCIAL SECURITY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>More support for irregular workers: <\/strong>The Labor Ministry has doubled the bonuses disbursed to registered irregular workers to EGP 1k, starting with the bonus to be paid out for Coptic Christmas next month, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0WfkmwqBH8NNDAiQzjZTv97ZBbuKyNdJ3mcdRf8gQjBg4xCLTK16fAWSBwsGbU8hDl\" style=\"\" rel=\"noopener\">statement<\/a>. These bonuses are paid out six times a year on religious holidays as well as Labor Day. This increase in bonuses will cost the state some EGP 1.5 bn annually.<\/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=\"wwtt1\"><\/a> <strong>MPs approved a EUR 1 bn <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/df14edc2-b089-4b19-9259-1c4724a140a1\/cabinet-approves-over%253cmark%253e-eur-1-bn%253c%2Fmark%253e-in-eu-funding#:~:text=%231%2D%20EUR%201%20bn%20in%20macro%2Dfinancial%20assistance%3A%20The%20funds\" style=\"\" rel=\"noopener\">macro-financial assistance package<\/a><\/strong><strong> from the <\/strong><strong>EU<\/strong>, which marks the first phase of a EUR 5 bn set of concessional loans running through 2027 as part of a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/183954ef-4dc7-49c8-9499-743e77de1e74\/eu-pledges-eur-7.4-bn-aid-package-for-egypt\" style=\"\" rel=\"noopener\">wider EUR 7.4 bn package<\/a> from the EU announced in March. The funds will go towards alleviating external financing constraints, easing the government\u2019s balance of payments and budget needs, and boosting FX reserves against the backdrop of regional geopolitical tensions. The package got the thumbs up from the cabinet in August. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO APPROVED- House greenlit USD 500 mn financing program <\/strong>between GASC and the Abu Dhabi Exports Office to facilitate wheat supplies for the authority. The financing will be granted in the form of a revolving USD 100 mn program that will be renewed for five year\u2019s time. \u201cThe agreement aims to shore up Egypt\u2019s strategic wheat reserves,\u201d Finance Minister Ahmed Kouchouk told MPs. <\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a mixed bag in the global press this morning<\/strong>, with major geopolitical shifts in the Middle East, a downbeat warning on the USD, and a once-in-a-century storm all getting ink. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel announced plans to expand its population in the Golan Heights, citing the strategic <\/strong><strong>importance of the area. <\/strong>Israeli Prime Minister Benjamin Netanyahu reaffirmed Israel\u2019s commitment to increase its presence in the occupied Golan Heights despite international backlash \u2014 \u201cstrengthening the Golan is strengthening the State of Israel, and it is especially important at this time. We will continue to hold onto it,\u201d he said in a statement. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-sees-increased-threat-syria-despite-moderate-tone-rebel-leaders-2024-12-15\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cz6lgln128xo\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/052ff79a-50a5-4e24-81df-384927961749\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2024\/12\/15\/israel-syria-war-news-hamas-gaza-palestine\/\" style=\"\" rel=\"noopener\">Washington Post<\/a>) <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE - Cyclone Chido hits Mayotte:<\/strong> The most powerful storm to hit the French Indian Ocean area of Mayotte in over a century, Cyclone Chido hit the French archipelago last night leaving hundreds dead before heading to Mozambique. In Mayotte local officials fear the death toll could reach thousands as emergency crews struggle with destroyed infrastructure and disrupted communications. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/cyclone-slams-into-frances-mayotte-archipelago-killing-least-11-2024-12-15\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/c205wnvlqn6o\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/12\/15\/africa\/cyclone-chido-mayotte-comoros-africa-intl-hnk\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2024\/dec\/15\/hundreds-feared-dead-as-cyclone-chido-devastates-french-island-of-mayotte\" style=\"\" rel=\"noopener\">The Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/12\/15\/world\/africa\/chido-mayotte-mozambique-french-territory.html\" style=\"\" rel=\"noopener\">New York Times<\/a>) <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- German Chancellor Olaf Scholz is hoping to lose a confidence vote today <\/strong>in the Bundestag in a bid to trigger snap elections on 23 February.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN BUSINESS NEWS- Trump policies will likely change how investors feel about the USD<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-15\/dollar-s-trump-fueled-gains-face-a-reality-check-late-next-year?srnd=homepage-middle-east&amp;embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> writes, explaining that the greenback will likely face pressures next year on the back of president-elect Donald Trump\u2019s policies and upcoming rate cuts. Major banks like Morgan Stanley and JPMorgan Chase see the USD peaking mid-2025 before falling. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- <\/strong>It\u2019s interest rate week in the United States, with the Federal Reserve set to hold its final meeting of the year on Tuesday and Wednesday. The Bank of England and the Bank of Japan will follow suit on Thursday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expect the Fed to sound a note of caution. <\/strong>The expectation since Donald Trump cruised to victory last month is now for fewer rate cuts over a longer period of time. A quarter-point cut this week seems fairly likely (though less so than before US voters returned The Donald to office), but the swaps market is pricing in just 0.75 bps worth of cuts by next September, suggesting we could see as few as two 0.25 bps cuts next year. <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/98faa626-0076-4bc2-8628-972595fa55c7\" style=\"\" rel=\"noopener\">The FT<\/a> has more on what to expect from the three meetings.<\/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\/2024\/5\/2495.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/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 dive into the government\u2019s plan for national universities.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"657132 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1544.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Somabay<\/span><span style=\"\">, <\/span><span style=\"font-weight:400;\">every reason to fall in love.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"657133\" 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=\"657133\">\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\">Fintech<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/oliv-receives-egypts-first-digital-factoring-license\/\">\r\n                            Oliv receives Egypt\u2019s first digital factoring license                        <\/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\/12\/16\/oliv-receives-egypts-first-digital-factoring-license\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> 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data-attachment-id=\"657134\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/oliv-receives-egypts-first-digital-factoring-license\/1019-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1019.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1019.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1019.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1019.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657133\" class=\"content-area-description single-story post-657133 post type-post status-publish format-standard has-post-thumbnail hentry category-fintech tag-enterpriseam tag-fintech tag-non-banking-financial-services tag-smes 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\/12\/.a1ee8325-92d5-40fe-bff9-d21f02187add.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>FRA hands Egypt\u2019s first digital factoring license to Oliv: <\/strong>SME-focused fintech firm <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/oliv-finance\/\" style=\"\" rel=\"noopener\">Oliv<\/a> has secured Egypt\u2019s first digital factoring license from the Financial Regulatory Authority (FRA), according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1373.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> by the company. The move will see Oliv leveraging the government\u2019s e-invoicing infrastructure to bring a fresh product to the underserved SME financing market this week. We spoke with CEO Ziad Mokhtar (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ziadmokhtar\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) and CFO Hatem Sabry (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/hatem-m-sabry-cfa-caia-b926016\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), the company\u2019s co-founders, to get the inside track on the company\u2019s vision and plans.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Digital factoring? <\/strong>Factoring is a transaction where a business sells its accounts receivable (invoices) to a third party (factor) at a discount in exchange for immediate cash. Digital factoring leverages online platforms to enable faster and more efficient invoice financing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The offering: <\/strong>Oliv will extend invoice-financing to SMEs in under 48 hours. \u201cThis is a breakthrough,\u201d said Mokhtar, seeing as the process typically takes weeks \u2014 if not months \u2014 with traditional factoring companies. \u201cWhat's unique about this is that [Oliv] is going to be the first ever digital factoring company to finance invoices without any paperwork whatsoever and implement a very quick data-driven process,\u201d Mokhtar explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The mechanism:<\/strong> Oliv analyzes data from the e-invoicing platform \u2014 which the client gives the company access to upon registering through the app \u2014 along with information from the Egyptian Credit Bureau (I-Score) and other data. It runs its own algorithms to assess creditworthiness and assign a credit limit within minutes. \u201cClients select which invoices they want an early payment for and then they select how long it will take them to collect this money and pay it back to us. Then they are presented with the exact cost of this financing and they can sign the contract digitally,\u201d Mokhtar told us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s only one physical touchpoint. <\/strong>The company collects repayment checks ahead of their due date. \u201cThis is why the process takes 48 hours and not 15 minutes,\u201d Mokhtar said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s an entirely new domain for SMEs: <\/strong>\u201cSmall clients never really do factoring, so we\u2019re actually creating that market for this segment,\u201d said Mokhtar. It\u2019s not economically viable for traditional factoring companies to extend invoice financing to smaller businesses because the due diligence process is extensive regardless of transaction size, Mokhtar explained. \u201cIt doesn't make sense to go and visit, inspect the invoices, call clients, check the inventory, revise the financial statements, and make sure the documents are all sound. We believe the only way to make it economically viable is to provide the service digitally.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So how much does Oliv finance?<\/strong> \u201cIt's part of our commercial strategy to focus on low tickets that are typically above the micro-finance ticket sizes,\u201d said Sabry. \u201cWe aim to finance up to EGP 5 mn pretty soon and then ramp up that amount next year. There's really no minimum amount.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company is in the process of raising more funds: <\/strong>\u201cWe're speaking with a number of banks and venture debt firms to be able to secure local currency debt facilities and we've identified a number of banks that are a strategic fit,\u201d said Sabry. \u201cWe\u2019re targeting a portfolio of EGP 200 mn next year and want a sizable portion of it to be financed using debt facilities.\u201d Oliv is backed by Cairo-based Algebra Ventures and San Francisco-based Alter Global. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And wants to help grow the industry\u2019s client base 10x in three years: <\/strong>Oliv aims to serve over 5k clients by 2028, up from the 605 clients served by the entire factoring industry in 2023. \u201cBut I\u2019m sure that\u2019s just the beginning. Others will join and this will definitely stimulate the real growth of the sector,\u201d Mokhtar said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s plenty of room for growth: <\/strong>Egypt\u2019s factoring volume is around USD 1 bn per year, while Turkey\u2019s is USD 27 bn, said Mokhtar. The size of the local factoring industry stood at EGP 44 bn in 2023, accounting for less than 0.3% of GDP. By comparison, Morocco's factoring industry represents over 2% of its GDP. \u201cIf the market is well-served, it could probably be a USD 8-9 bn market. We don't know how quickly we'll get there, but our mission is to move [the industry] towards that point,\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More product launches will follow:<\/strong> The company plans to offer reverse factoring in 2025 to help its SME clients finance their purchases and close the cycle, Sabry said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Behind it all: <\/strong>Zaki Hashem & Partners provided legal counsel throughout the licensing process. Link Data Centers provided tech infrastructure and cybersecurity services and VLense provided the tech needed to implement digital identity, verification, and contracting capabilities. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/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\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/catalyst-partners-spac-looks-to-acquire-qardy-through-share-swap\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/312.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"657137\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/catalyst-partners-spac-looks-to-acquire-qardy-through-share-swap\/312-jpg-27\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/312.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"312.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/312.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/312.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657136\" class=\"content-area-description single-story post-657136 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-egx tag-enterpriseam tag-ma-watch tag-non-banking-financial-services tag-qardy tag-spacs 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\/12\/.bb66d8fe-c776-44a7-82bd-024fdbf5fd59.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt\u2019s first SPAC is gearing up for its first acquisition: <\/strong>Impact investor Catalyst Partners\u2019 SPAC, Catalyst Partners Middle East (CPME) is looking to acquire digital lending marketplace <a target=\"_blank\" href=\"https:\/\/eqardy.com\/home\" style=\"\" rel=\"noopener\">Qardy<\/a> through a share swap, the CPME said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1389.pdf\" style=\"\" rel=\"noopener\">information memorandum (pdf)<\/a>. The acquisition will be executed through a full or partial share swap, whereby CPME acquires the entirety of Qardy in exchange for issuing new shares. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know about Qardy: <\/strong>Founded in July 2022, Qardy is Egypt's first online lending marketplace connecting financial institutions with micro, small, and medium enterprises (MSMEs) seeking funding. Qardy partners with national and commercial banks, as well as leasing, factoring, and microfinance companies, to offer tailored financial programs supporting MSMEs' working capital and expansion needs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The move is part of a larger investment plan:<\/strong> The SPAC is looking to acquire six to ten companies \u2014 including two fintech and NBFS firms \u2014 the firm\u2019s Chairman Maged Shawky previously said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> CPME <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1734a401-c514-45e5-86bd-ec176e5c4f87\/egypt%25e2%2580%2599s-first%253cmark%253e-spac%253c%2Fmark%253e-starts-trading-on-the-egx\" style=\"\" rel=\"noopener\">made its EGX debut<\/a> last month, listing 1 mn shares with a nominal value of EGP 10 per share \u2014 bringing its total issued capital to EGP 10 mn. During a meeting earlier this month, the extraordinary general assembly approved a recommendation to raise the SPAC\u2019s capital to EGP 235 mn by offering 22.5 mn shares \u2014 valued at EGP 10 per share \u2014 according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1390.pdf\" style=\"\" rel=\"noopener\">assembly minutes (pdf)<\/a>. The Financial Regulatory Authority (FRA) has since approved the move as well and investors have between today and Thursday to subscribe to the capital increase. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>Matouk Bassiouny & Hennawy is legal counsel and Beltone Securities Brokerage will broker the transaction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s a SPAC again?<\/strong> A special purpose acquisition company is a type of shell company used by investors to acquire firms. SPACs raise money from the public in an IPO and then use the proceeds to merge with or acquire an appropriate company. Check out <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6ab3251-641a-4e2c-aa00-6b8486d10c68\" style=\"\" rel=\"noopener\">our explainer<\/a> for more on how SPACs work.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> CPME became Egypt\u2019s first SPAC after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/88ac5801-4921-4b05-a6e4-7167c37d2d7f\/\" style=\"\" rel=\"noopener\">receiving the green light<\/a> from the FRA in late September.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">IN OTHER M&A NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cairo Housing ups stake in <\/strong><strong>United <\/strong><strong>Housing:<\/strong> EGX-listed real estate player Cairo Housing and Development has acquired an additional 21% in United Housing increasing its stake in the company to 70.9% after the two sides <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4380840\/%D8%A7%D9%84%D8%A8%D9%88%D8%B1%D8%B5%D8%A9-%D9%85%D8%A8%D8%A7%D8%AF%D9%84%D8%A9-%D8%A3%D8%B3%D9%87%D9%85-%D8%B6%D9%85%D9%86-%D8%B9%D8%B1%D8%B6-%D8%A7%D9%84%D9%82%D8%A7%D9%87%D8%B1%D8%A9-%D9%84%D9%84%D8%A5%D8%B3%D9%83%D8%A7%D9%86-%D9%84%D9%84%D8%A7%D8%B3%D8%AA%D8%AD%D9%88%D8%A7%D8%B0-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D9%85%D8%AA%D8%AD%D8%AF%D8%A9-%D9%84%D9%84%D8%A5%D8%B3%D9%83%D8%A7%D9%86\/\" style=\"\" rel=\"noopener\">carried out a share swap<\/a>. Cairo Housing was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/80f37051-1562-4420-98bb-e58e95e2e394\/cairo-housing%E2%80%99s-bid-for-a-larger-stake-in-united-housing-moves-forward\" style=\"\" rel=\"noopener\">looking to increase<\/a> its parent company and its subsidiaries\u2019 stake in United to up to 90% \u2014 the company and its subsidiaries held a 49.9% stake in the company pre-share swap. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/qardy\/\">Qardy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/spacs\/\">SPACs<\/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=\"657138\" 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=\"657138\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/egypt-lays-out-23-priority-industries-for-its-localization-push\/\">\r\n                            Egypt lays out 23 priority industries for its localization push                        <\/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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class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1401.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"657139\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/egypt-lays-out-23-priority-industries-for-its-localization-push\/1401-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1401.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1401.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1401.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1401.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657138\" class=\"content-area-description single-story post-657138 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-enterpriseam tag-industry 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\/12\/.2df16e2e-bfa8-4d28-bc9b-35f9e61e3bc6.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Gov\u2019t identifies priority industries earmarked for localization: <\/strong>Transport and Industry Minister Kamel El Wazir <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0P3fzMS1b62uvraPSfWpBeypnh2YRQ7TPCazjEZY2A8i7NBwpaexRE1r3WF119QvXl\" style=\"\" rel=\"noopener\">laid out<\/a> the 23 industries that the government is looking to localize, adding that the state is offering incentives and facilities to attract investments into these selected sectors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The sectors in question include <\/strong>solar and wind energy components, tires, vehicle batteries, desalination and treatment plant components, baby formula, aluminum products, electrical transformers, seamless pipes, water pump motors, polyester, soda ash, electric motors, generators, water filtration devices, electrical tools, electric control and distribution panels, central air conditioning cooling systems, elevators and escalators, sound systems and cameras, and windshields.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The ministries of housing and industry had previously selected <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 industries<\/a> that the Madbouly government will work to localize \u2014 the products include electric motors, generators, valves, pumps, water filtration devices, electric tools, solar cells, electrical control and power distribution panels, and elevators.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government is aiming to localize 152 industries by 2030<\/strong> in sectors including \u2014 but not limited to \u2014 the engineering, transport, pharma, and automotive sectors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DIVE DEEPER-<\/strong> We dove into the ins and outs of Egypt\u2019s localization efforts and the challenges that industrial sector players stand to face in the process of our localization push in an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d3fdb838-5768-4201-8be9-a6cdc8b3aa29\/a-deep-dive-into-egypt%25e2%2580%2599s%253cmark%253e-localization-efforts%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">Inside Industry<\/a> published last month.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"657140 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"657140\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/657140\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657140\" class=\"content-area-description single-story post-657140 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.eg\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/295.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"657141\" 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=\"657141\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/qantara-west-industrial-zone-to-welcome-two-new-projects-with-investments-of-usd-38-mn\/\">\r\n                            Qantara West Industrial Zone to welcome two new projects with investments of USD 38 mn                        <\/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\/12\/16\/qantara-west-industrial-zone-to-welcome-two-new-projects-with-investments-of-usd-38-mn\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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              <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Qantara West Industrial Zone to welcome two new projects with investments of USD 38 mn&url=https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/qantara-west-industrial-zone-to-welcome-two-new-projects-with-investments-of-usd-38-mn\/\">\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\/12\/16\/qantara-west-industrial-zone-to-welcome-two-new-projects-with-investments-of-usd-38-mn\/&title=Qantara West Industrial Zone to welcome two new projects with investments of USD 38 mn\">\n                    LinkedIn                    <!-- <img decoding=\"async\" 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              <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1419.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"657142\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/qantara-west-industrial-zone-to-welcome-two-new-projects-with-investments-of-usd-38-mn\/1419-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1419.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1419.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1419.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1419.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657141\" class=\"content-area-description single-story post-657141 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam tag-investment-watch tag-suez-canal-economic-zone tag-west-qantara-industrial-zone wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.fde03d1d-a74d-4cb9-b83e-e4194ceb6c70.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>SCZone secures USD 38 mn in fresh investments: <\/strong>The Qantara West Industrial Zone will welcome two new projects with combined investments of USD 38 mn following agreements with the Suez Canal Economic Zone (SCZone), according to a SCZone <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/pfbid0xXRpcsCTVynA5SMtmBqF8rbziNwHz2FfbUxhWTccjRXXUwVBWKpt418itzEn5toVl\" style=\"\" rel=\"noopener\">statement<\/a>. The new projects \u2014 one in food manufacturing and the other in home textiles \u2014 will come online during 4Q 2025 and create 1.5k jobs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>China\u2019s Kelida commits USD 30 mn:<\/strong> Chinese textile manufacturer Kelida will set up a USD 30 mn factory in the industrial zone, creating 1k direct jobs. Over 90% of the factory\u2019s output will be earmarked for exports, with a focus on European and US markets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Turkish snackmaker <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saraybiskuvi.com.tr\/\" style=\"\" rel=\"noopener\">Saray Biskuvi<\/a><\/strong><strong> will set up a USD 8 mn food manufacturing facility<\/strong>, creating 450 direct jobs. The new plant will export 90% of its production to international markets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> With the two new projects, the first phase of the Qantara West Industrial Zone will now house eight projects with total investment of USD 309 mn, SCZone head Walid Gamal El Din said, adding that the projects will create some 14.2k jobs.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/west-qantara-industrial-zone\/\">West Qantara Industrial Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"657143\" 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=\"657143\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/mo-group-eyes-ipo\/\">\r\n                            Egypt\u2019s MO Group eyes IPO                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/mo-group-eyes-ipo\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/mo-group-eyes-ipo\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/mo-group-eyes-ipo\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=MO Group eyes IPO&url=https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/mo-group-eyes-ipo\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/mo-group-eyes-ipo\/&title=MO Group eyes IPO\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=MO+Group+eyes+IPO+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F12%2F16%2Fmo-group-eyes-ipo%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/mo-group-eyes-ipo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1417.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"657144\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/mo-group-eyes-ipo\/1417-jpg-27\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1417.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1417.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1417.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1417.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657143\" class=\"content-area-description single-story post-657143 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-enterpriseam tag-ipo-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\/12\/.a8b95e74-d2d4-456e-b7a0-912e3db81ee8.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>MO Group wants to IPO: <\/strong>Food and beverage producer MO Group for Food Industries is looking to list its shares on the EGX, with plans to switch to a joint-stock company by next March ahead of its planned IPO, Chairman Hamdy Al Abraq told <a target=\"_blank\" href=\"https:\/\/hapijournal.com\/2024\/12\/15\/%d8%b1%d8%a6%d9%8a%d8%b3-%d9%85%d8%ac%d9%84%d8%b3-%d8%a7%d9%84%d8%a5%d8%af%d8%a7%d8%b1%d8%a9-%d8%a5%d9%85-%d8%a3%d9%88-%d8%ac%d8%b1%d9%88%d8%a8-%d8%aa%d8%b9%d8%aa%d8%b2%d9%85-%d8%b7%d8%b1%d8%ad-60\/\" style=\"\" rel=\"noopener\">Hapi Journal<\/a>. The company will initially offer a 35% stake in an IPO, before increasing the stake listed to 60% within the next three years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know: <\/strong>The funds raised from the listing will help the company fund its expansion plans and improve financial transparency, Al Abraq said. He didn\u2019t mention the number of shares the company plans on listing or the amount to be raised from the listing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company plans to invest USD 10 mn to set up new production lines<\/strong>, particularly for biscuit and chocolate products, Al Abraq added, explaining that the company plans to double its monthly production capacity to 6k tons in 2025, half of which will be earmarked for exports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big export target for next year:<\/strong> MO Group wants to increase its exports to USD 20 mn for 2025 through penetrating new markets in Latin America, North America and Europe, as well as expanding its reach in African and Gulf countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IPOs are a bit of a rarity on the EGX nowadays, but investor appetite seems to be strong<\/strong>, with the only two IPOs to happen this year being heavily oversubscribed. United Bank\u2019s retail offering, which closed earlier this month, was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c086b524-6ef6-49ed-bfb6-8a538ad83b83\/%253cmark%253eunited-bank%253c%2Fmark%253e%25e2%2580%2599s-retail-tranche-59x-oversubscribed-as-subscription-period-closes\" style=\"\" rel=\"noopener\">oversubscribed 59x<\/a>, while the offering\u2019s private placement was covered 6x \u2014 raising some EGP 4.57 bn. While earlier in the year, Act Financial\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4d5c99b6-2d0a-4923-9bbc-6dc4ef74f1cc\/\" style=\"\" rel=\"noopener\">retail tranche<\/a> for its EGP 1 bn IPO was 54.8x covered and its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f4a2b315-f622-4068-9919-eb27535b33f0\" style=\"\" rel=\"noopener\">institutional tranche<\/a> was 20.2x oversubscribed \u2014 the highest demand a subscription period has seen in six years.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"657145\" 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=\"657145\">\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\">Development finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/egypt-to-see-eur-77-mn-from-germany\/\">\r\n                            Egypt to see EUR 77 mn from Germany                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta 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          <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/egypt-to-see-eur-77-mn-from-germany\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1421.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"657146\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/egypt-to-see-eur-77-mn-from-germany\/1421-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1421.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1421.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1421.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1421.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657145\" class=\"content-area-description single-story post-657145 post type-post status-publish format-standard has-post-thumbnail hentry category-development-finance tag-debt-swap tag-development-finance tag-egypt-germany-relations 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\/12\/.6b4fee51-d685-4c30-b232-b2cea39fc484.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt and Germany inked grant and debt <\/strong><strong>swap agreements totaling some EUR 77.3 mn <\/strong>to fund development projects in a number of sectors, according to a Planning, Economic Development & International Cooperation <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1096435895860163?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A fruitful Egyptian-German Cooperation Day: <\/strong>The agreements came during the first <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ae66b15f-11d8-4e32-9ec6-82adb9df658d\/abdelatty-touches-down-in-beijing-for-egypt-china-strategic-dialogue\" style=\"\" rel=\"noopener\">Egyptian-German Cooperation day<\/a>, which was held yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Germany will provide us with a EUR 48.3 mn grant for the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.giz.de\/en\/worldwide\/104616.html\" style=\"\" rel=\"noopener\">Comprehensive Technical<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.giz.de\/en\/worldwide\/104616.html\" style=\"\" rel=\"noopener\">Education Initiative<\/a><\/strong>, some EUR 16.3 mn will go towards technical support for the second phase of the program and EUR 32 mn will be in financial support for the program\u2019s second phase. The funding will be directed towards building renovations, setting up green facilities, and equipment upgrades for three technical education centres. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The two sides signed a EUR 29 mn debt swap agreement<\/strong>, under which Egypt will use EUR 29 mn owed to Germany to support health, education and nutrition services for vulnerable groups. The funds will go to ministries of social solidarity, health, and education, as well as the UNICEF and World Food Program. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve heard quite a bit about Egypt-bound investments coming from Germany recently<\/strong>, including a EUR 1 bn direct reduced iron factory courtesy of industrial manufacturer <a target=\"_blank\" href=\"https:\/\/www.sms-group.com\/\" style=\"\" rel=\"noopener\">SMS Group<\/a>, a EUR 30 mn flame-resistant material factory from advanced textile material producer <a target=\"_blank\" href=\"https:\/\/www.belchem.de\/\" style=\"\" rel=\"noopener\">Belchem<\/a>, a A EUR 5 mn first phase of a bicycle parts factory spearheaded by German bicycle manufacturer <a target=\"_blank\" href=\"https:\/\/www.cube.eu\/\" style=\"\" rel=\"noopener\">Cube<\/a>, and a factory by auto parts manufacturer <a target=\"_blank\" href=\"https:\/\/mutares.com\/en\/\" style=\"\" rel=\"noopener\">Mutares Group<\/a> that <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9c6eb021-6437-47c6-b6c2-f5624c2ec936\/german-companies-mull-eur-1-bn-iron-factory,-eur-30-mn-flame-resistant--material-factory,-eur-5-mn-bicycle-parts-factory\" style=\"\" rel=\"noopener\">came to light<\/a> during Investment Minister Hassan El Khatib\u2019s trip to the country late last month.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-swap\/\">debt swap<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-germany-relations\/\">Egypt-Germany relations<\/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=\"657147\" 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=\"657147\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/egyptian-lenders-back-bns-in-energy-and-port-expansion-loans\/\">\r\n                            Egyptian lenders back bns in energy and port expansion loans                        <\/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\/12\/16\/egyptian-lenders-back-bns-in-energy-and-port-expansion-loans\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n       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loans&url=https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/egyptian-lenders-back-bns-in-energy-and-port-expansion-loans\/\">\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\/12\/16\/egyptian-lenders-back-bns-in-energy-and-port-expansion-loans\/&title=Egyptian lenders back bns in energy and port expansion loans\">\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=Egyptian+lenders+back+bns+in+energy+and+port+expansion+loans+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F12%2F16%2Fegyptian-lenders-back-bns-in-energy-and-port-expansion-loans%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\/12\/16\/egyptian-lenders-back-bns-in-energy-and-port-expansion-loans\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1023.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"657148\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/egyptian-lenders-back-bns-in-energy-and-port-expansion-loans\/1023-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1023.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1023.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1023.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1023.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657147\" class=\"content-area-description single-story post-657147 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-energy tag-enterpriseam tag-infrastructure 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\/12\/.ffcddf24-cd72-4aa0-8354-84c56bc0c73e.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A busy day for debt news<\/strong>, with EGP bns of loans announced to fund energy and infrastructure projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Cheiron secures USD 80 mn to fuel exploration operations:<\/strong> Local energy giant Cheiron Energy secured central bank approval for a USD 80 mn syndicated loan, arranged by the National Bank of Egypt (NBE), Banque Misr, Banque du Caire, Al Baraka Bank, and the Arab International Bank, <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=14122024&id=3a6eb460-235a-4b67-b080-fb086f48e4af\" style=\"\" rel=\"noopener\">Shorouk News<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The loan will fund Cheiron\u2019s exploration activities<\/strong>, in line with its plan to ramp up production by 20% in 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Petrotrade lands EGP 8 bn loan to fund energy imports:<\/strong> A five-bank syndicate has approved an EGP 8 bn loan for state-owned Petrotrade to fund the import of petroleum products for the Egyptian General Petroleum Corporation (EGPC), <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=14122024&id=8a87e901-f0f3-45fd-8ff3-0c6d77d505e0\" style=\"\" rel=\"noopener\">Shorouk News<\/a> reported, citing sources with knowledge of the transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The syndicate \u2014 which includes NBE, Banque Misr, Banque du Caire, AAIB, and Qatar National Bank \u2014 is expected to finalize the loan agreement before year-end.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Abu Qir Port expansion gets EGP 2.8 bn boost: <\/strong>Gharably Integrated Engineering Company (GIEC) secured a EGP 2.8 bn syndicated loan to fund the Abu Qir Port expansions, <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=14122024&id=26a1ff0d-402e-4103-a0b5-1682b19c3be2\" style=\"\" rel=\"noopener\">Shorouk News<\/a> reported. The loan was managed by NBE, with participation from Banque Misr, Banque du Caire, CIB, and Bank NXT and is expected to close by 1Q 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fresh funds will cover additional works after revisions increased the project\u2019s total <\/strong><strong>investment <\/strong>from EGP 19 bn to 28 bn and extended its timeline by 30 months. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Damietta Port Authority secures EGP 1.3 bn, long-term loan from the Suez Canal <\/strong><strong>Bank<\/strong> to fund the development and expansion of the port, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/1-3-%d9%85%d9%84%d9%8a%d8%a7%d8%b1-%d8%ac%d9%86%d9%8a%d9%87-%d9%82%d8%b1%d8%b6-%d9%85%d9%86-%d8%a8%d9%86%d9%83-%d9%82%d9%86%d8%a7%d8%a9-%d8%a7%d9%84%d8%b3%d9%88%d9%8a%d8%b3-%d9%84%d9%80\/\" style=\"\" rel=\"noopener\">Al Ma<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/1-3-%d9%85%d9%84%d9%8a%d8%a7%d8%b1-%d8%ac%d9%86%d9%8a%d9%87-%d9%82%d8%b1%d8%b6-%d9%85%d9%86-%d8%a8%d9%86%d9%83-%d9%82%d9%86%d8%a7%d8%a9-%d8%a7%d9%84%d8%b3%d9%88%d9%8a%d8%b3-%d9%84%d9%80\/\" style=\"\" rel=\"noopener\">l<\/a> reports citing unnamed sources in the know. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/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\/infrastructure\/\">infrastructure<\/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=\"657149\" 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=\"657149\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/indrive-appoints-fady-soliman-as-egypt-country-manager\/\">\r\n                            inDrive appoints Fady Soliman as Egypt country manager                        <\/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\/12\/16\/indrive-appoints-fady-soliman-as-egypt-country-manager\/\" 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\/12\/16\/indrive-appoints-fady-soliman-as-egypt-country-manager\/')\">\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\/12\/16\/indrive-appoints-fady-soliman-as-egypt-country-manager\/\">\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=inDrive appoints Fady Soliman as Egypt country manager&url=https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/indrive-appoints-fady-soliman-as-egypt-country-manager\/\">\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\/12\/16\/indrive-appoints-fady-soliman-as-egypt-country-manager\/&title=inDrive appoints Fady Soliman as Egypt country manager\">\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=inDrive+appoints+Fady+Soliman+as+Egypt+country+manager+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F12%2F16%2Findrive-appoints-fady-soliman-as-egypt-country-manager%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\/12\/16\/indrive-appoints-fady-soliman-as-egypt-country-manager\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1424.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"657150\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/indrive-appoints-fady-soliman-as-egypt-country-manager\/1424-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1424.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1424.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1424.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1424.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657149\" class=\"content-area-description single-story post-657149 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam tag-indrive tag-moves 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\/12\/.208dad2f-45fa-4b3d-9cfa-a2e4171e7b23.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>inDrive appoints new Egypt country manager: <\/strong>Global ride-hailing app inDrive has tapped Fady Soliman (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/fady-soliman-78a9214b\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as its new Egypt country manager, Soliman announced on <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7271796470087905280?commentUrn=urn%3Ali%3Acomment%3A%28activity%3A7271796470087905280%2C7271818988710502401%29&dashCommentUrn=urn%3Ali%3Afsd_comment%3A%287271818988710502401%2Curn%3Ali%3Aactivity%3A7271796470087905280%29\" style=\"\" rel=\"noopener\">LinkedIn<\/a>. Soliman has previously held roles at Jumia Group and Economic Co. Electric. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/indrive\/\">inDrive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"657151 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"657151\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/657151\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657151\" class=\"content-area-description single-story post-657151 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicContactUs\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2301.jpeg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"657152\" 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=\"657152\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/el-sisi-meets-with-armed-forces-police-media-officials\/\">\r\n                            El Sisi meets with armed forces, police, media officials                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/el-sisi-meets-with-armed-forces-police-media-officials\/&title=El Sisi meets with armed forces, police, media officials\">\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+Sisi+meets+with+armed+forces%2C+police%2C+media+officials+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F12%2F16%2Fel-sisi-meets-with-armed-forces-police-media-officials%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\/12\/16\/el-sisi-meets-with-armed-forces-police-media-officials\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1417.png?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"657153\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/el-sisi-meets-with-armed-forces-police-media-officials\/1417-png-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1417.png?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1417.png\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1417.png?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1417.png?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657152\" class=\"content-area-description single-story post-657152 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-enterpriseam tag-last-nights-talk-shows 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\/12\/.8453e009-83e8-4f95-b6c0-f7d1aa055ce7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One story dominated the airwaves last night:<\/strong> President Abdel Fattah El Sisi met with armed forces and police officials as well as journalists and media professionals yesterday, where he touched on a number of issues. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>During his meeting with the armed forces, police and various security agencies leaders<\/strong>, El Sisi discussed \u201cdevelopments on both the regional and international arenas and their ramifications on Egypt\u2019s national security \u2026 [and] efforts by the armed forces, civil police, and apparatuses in safeguarding Egypt\u2019s borders and internal front against various threats,\u201d according to an Ittihadiya <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/1143282730493787?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Sisi also affirmed that \u201cEgypt is closely monitoring the regional and international <\/strong><strong>developments<\/strong>, grounded in the fundamentals of Egypt\u2019s foreign policy.\u201c<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The meeting caught the attention El Hekaya\u2019s Amr Adib <\/strong>(<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=5u-sXqikfhc\" style=\"\" rel=\"noopener\">watch, runtime 28:53<\/a>) and Ala Masouleety\u2019s Ahmed Moussa (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=dN7x1IennoU\" style=\"\" rel=\"noopener\">watch, runtime 3:59<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Sisi held a separate meeting with media figures<\/strong>, where he discussed developments in Gaza, Syria, Lebanon, Libya, Sudan, Somalia, and Yemen, according to a separate Ittihadiya <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/1143287360493324?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThere is communication with the new US administration, and there is a level of mutual <\/strong><strong>trust between both sides.<\/strong> Our views are appreciated and accepted by them, and we will build on that to find solutions to unresolved regional issues,\u201d El Sisi said during the meeting (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=FOlORH25KKw\" style=\"\" rel=\"noopener\">watch, runtime 7:59<\/a>). <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/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=\"657154\" 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=\"657154\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/hill-international-will-reportedly-manage-giza-zoo-development\/\">\r\n                            Hill International will reportedly manage Giza Zoo development                        <\/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\/12\/16\/hill-international-will-reportedly-manage-giza-zoo-development\/\" target=\"_blank\">\n                    Open in new tab                  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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"657155\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/hill-international-will-reportedly-manage-giza-zoo-development\/1426-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1426.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1426.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1426.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1426.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657154\" class=\"content-area-description single-story post-657154 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-beltone-leasing-and-factoring tag-enterpriseam tag-fintech tag-heliopolis-housing-and-development tag-investment-watch tag-ma-watch tag-privatization-watch tag-real-estate tag-recycling tag-sovereign-fund-of-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\/12\/.19a9960b-9a31-474c-923c-26740761d58b.mp3\"><\/audio><\/figure>\n<p class=\"tag-border-left\">LEISURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Hill International has been tapped to manage Giza Zoo development:<\/strong> Hadayieq, the firm leading the Giza Zoo revamp, has reportedly tapped US-based construction consultant <a target=\"_blank\" href=\"https:\/\/www.hillintl.com\/?_gl=1*1b4n14k*_up*MQ..*_ga*NzA5NzQ3NjgxLjE3MzQyNTU2OTA.*_ga_Z5QJ6M9D13*MTczNDI1NTY5MC4xLjEuMTczNDI1NjcxNC4wLjAuMA..\" style=\"\" rel=\"noopener\">Hill International<\/a> to manage the development of the Giza Zoo and the nearby Orman botanical garden, <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=14122024&amp;id=336b22bc-94b9-47de-b944-f5ef2b785bb2\" style=\"\" rel=\"noopener\">Shorouk News<\/a> reports, citing what it says are sources in the know. The consortium responsible for the revamp has so far secured EGP 800 mn for the EGP 1.4 bn project, which will transform the dated zone into an open-range, no-cage touristic attraction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want the details? <\/strong>We had spoken to Hadayieq Chairman Mohamed Kamel to learn more about the overhaul and the timeline for its completion in a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/01c89e6d-443e-4f65-85a2-4fb9bea4399e\/what-to-expect-from-the-giza-zoo-post-revamp\" style=\"\" rel=\"noopener\">HardHat<\/a> published late last year. <\/p>\n<p class=\"tag-border-left\">PRIVATIZATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Misr Aswan Fishing gears up for privatization: <\/strong>Some 14 public and private companies, including National Bank of Egypt and Arab Contractors, have reportedly authorized the Sovereign Fund of Egypt (SFE) to sell their stakes<span style=\"background-color: transparent;\">&nbsp;in Misr Aswan Fishing to<\/span><span style=\"background-color: transparent;\">&nbsp;a strategic investor, <\/span><a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=14122024&amp;id=ae4c3a3f-d4b0-435a-8455-0216ae6aae58\" rel=\"noopener\">Shorouk News<\/a><span style=\"background-color: transparent;\"> reports, citing what it says are sources with knowledge of the matter. The SFE will likely target a local buyer.<\/span><\/p>\n<p class=\"tag-border-left\">FINTECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Beltone Leasing joins FCI: <\/strong>Beltone Holding subsidiary Beltone Leasing and Factoring has joined the Global Representative Body for Factoring and Financing of Open Account Domestic and International Trade Receivables FCI, according to a company <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1398.pdf\" style=\"\" rel=\"noopener\">press statement (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1398.pdf\" style=\"\" rel=\"noopener\">pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1398.pdf\" style=\"\" rel=\"noopener\">)<\/a>. Connecting over 400 global members from 90 countries, the FCI facilitates cross-border cooperation. Beltone\u2019s FCI membership will help it access tech platforms that will enhance its presence in international trade and supply chains.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201c[The membership] strengthens our international expansion strategy by leveraging global expertise and the extensive network provided by the organization. Furthermore, the organization's statistics and market studies will provide us with deeper insights into industry trends and challenges, supporting our strategic plans to deliver superior financial solutions to our clients,\u201d Deputy Head of NBFIs for Leasing, Factoring, and Consumer Finance Amir Ghannam said. <\/p>\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Qalaa to redevelop Granada complex:<\/strong> Real estate developer Heliopolis Housing and Development (HHD) has chosen Al Qalaa for Asset Management to redevelop the historic Granada building in Heliopolis, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1350.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. HHD will be entitled to 30% of the project\u2019s revenues in its first year and 40% of revenues in its second year. Al Qalaa\u2019s offer \u201cpreserves the heritage and historical value of the Granada Complex.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The building was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e90f256-719d-44ac-b3dc-00f0b167fa3d\" style=\"\" rel=\"noopener\">reopened following a EGP 47 mn redevelopment project<\/a> in the works since 2017. Al Qalaa can redevelop the building into areas suitable for cultural and tourism activities, exhibitions, and parties, as well as a high-level restaurant.<\/p>\n<p class=\"tag-border-left\">RECYCLING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The country\u2019s first cardboard recycling plant: <\/strong>Global packaging solutions giant Tetra Pak and local cardboard manufacturer Uniboard have inaugurated a EUR 2.5 mn cardboard recycling plant \u2014 Egypt\u2019s first \u2014 in Sadat City, according to an Environment Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02kP8bSe1j1g6ZSs4MFgNvGvK6tjovNmg233KstAZtP6QtMaXaDysbtbkRzaKWfRJ4l\" style=\"\" rel=\"noopener\">statement<\/a>. The plant should reach its maximum annual capacity of 8k tons of cardboard within five years.<\/p>\n<p class=\"tag-border-left\">M&amp;A-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details of CI Capital\u2019s exit from Taaleem:<\/strong> CI Capital earlier this week exited its strategic stake in higher education outfit Taaleem after a five-year investment period, achieving 4.5x return on equity and an internal rate of return of 50%, according to a company <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1422.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. CI Capital sold its stake in Taaleem in a EGP 956.6 mn transaction, according to EnterpriseAM calculations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> Palm Hills Development and El Tarek Automotive bought up <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a404ec36-264c-4edd-a36c-33e4b92b7ce9\/phd,-el-tarek-auto-up-their-stakes-in-taaleem\" style=\"\" rel=\"noopener\">CI Capital\u2019s entire<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a404ec36-264c-4edd-a36c-33e4b92b7ce9\/phd,-el-tarek-auto-up-their-stakes-in-taaleem\" style=\"\" rel=\"noopener\">13.1% stake in Taaleem<\/a>, raising their ownership in the firm to 32.6% and 14% respectively. <\/p>\n<p class=\"tag-border-left\">INVESTMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Local real estate developer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/alashraaf.com\/\" style=\"\" rel=\"noopener\">Al Ashraaf Developments<\/a><\/strong><strong> is looking to invest EGP 1.25 <\/strong><strong>bn to set up 10 new gas stations<\/strong>, CEO Ahmed Massoud <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4380955\/%D8%A7%D9%84%D8%A3%D8%B4%D8%B1%D8%A7%D9%81-%D9%84%D9%84%D8%AA%D8%B7%D9%88%D9%8A%D8%B1-%D8%AA%D8%B9%D8%AA%D8%B2%D9%85-%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-1-25-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AC%D9%86%D9%8A%D9%87-%D8%A8%D9%80-10-%D9%85%D8%AD%D8%B7%D8%A7%D8%AA-%D8%AA%D9%85%D9%88%D9%8A%D9%86-%D8%B3%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1\/\" style=\"\" rel=\"noopener\">said<\/a> during a presser. The company has already built six stations worth some EGP 700 mn, with plans to set up four more in 1Q 2025 in Sheikh Zayed and New Obour cities.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone-leasing-and-factoring\/\">Beltone Leasing and Factoring<\/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\/heliopolis-housing-and-development\/\">Heliopolis Housing and Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/recycling\/\">recycling<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"657156\" 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=\"657156\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/btc-hits-another-record-on-news-of-a-first-of-its-kind-us-btc-strategic-reserve\/\">\r\n                            BTC hits another record on news of a first-of-its-kind US BTC strategic reserve                        <\/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\/12\/16\/btc-hits-another-record-on-news-of-a-first-of-its-kind-us-btc-strategic-reserve\/\" target=\"_blank\">\n                    Open in new 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class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1403.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"657157\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/btc-hits-another-record-on-news-of-a-first-of-its-kind-us-btc-strategic-reserve\/1403-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1403.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1403.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1403.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1403.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657156\" class=\"content-area-description single-story post-657156 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-crypto tag-donald-trump tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.f91a7907-dfca-4173-b1a9-ce1d52d816d9.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>BTC hit a fresh record of USD 105k yesterday after legislation was introduced in Texas that would, if passed,<\/strong><strong>\u00a0set up a strategic reserve for the digital currency.<\/strong>\u00a0The rules would allow the state to accept taxes, fees and donations in BTC that would be held for a minimum of five years, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/currencies\/bitcoin-powers-above-105000-first-time-2024-12-15\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/12\/12\/texas-house-introduces-bill-to-establish-a-strategic-bitcoin-reserve.html\" style=\"\" rel=\"noopener\">CNBC<\/a> report. Also yesterday, president-elect Donald Trump said that he would look into setting up a strategic BTC reserve at the federal level.\u00a0<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context:<\/strong> The news comes following a rally that saw BTC climb over 50%, spurred on by Donald Trump\u2019s election in the US, and saw it hit the USD <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/29264144-a7b1-448a-b46f-ae1a78547586\/what-btc%25e2%2580%2599s-breach-of-the-usd-100k-mark-means-for-the-industry\" style=\"\" rel=\"noopener\">100k<\/a> milestone for the first time this month. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not the first time we\u2019ve heard of this: <\/strong>In July 2024, Trump <a target=\"_blank\" href=\"https:\/\/www.forbes.com\/sites\/digital-assets\/2024\/12\/14\/trump-confirms-bitcoin-reserve-plans-15-trillion-price-boom-predicted\/\" style=\"\" rel=\"noopener\">initially touted<\/a> the idea of a strategic national BTC reserve, predicting the digital currency could surpass gold's market capitalization of USD 16 tn. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US is not alone:<\/strong> The possibility of a US BTC reserve has gained traction following similar moves by Russia, where lawmakers are advocating for a national BTC reserve as an alternative to foreign currency reserves. Analysts predict that BTC\u2019s price could reach as high as USD 800k by the end of next year, resulting in a market capitalization of approximately USD 15 tn, <a target=\"_blank\" href=\"https:\/\/www.forbes.com\/sites\/digital-assets\/2024\/12\/14\/trump-confirms-bitcoin-reserve-plans-15-trillion-price-boom-predicted\/\" style=\"\" rel=\"noopener\">Forbes<\/a> reports.<\/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>SIGN OF THE TIMES? <\/strong>Shares of OQ Base Industries fell 3.6% in Oman yesterday, becoming the third regional IPO in a row to disappoint in their trading debut. Talabat\u2019s USD 2 bn IPO saw its shares on the Dubai Financial Market dip 7% on opening day, while shares of retailer Lulu closed flat in their first day on the ADX.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> State-owned OQ sold a 49% stake in methanol producer OQ Base Industries in a transaction worth USD 489 mn before the start of trading, pricing the offering at the top of the range.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>Morgan Stanley, Bank Dhofar and Bank Muscat quarterbacked the offering.<\/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 mixed<\/strong> after South Korea\u2019s president was impeached over the weekend, and as investors await key interest rate decisions from the Bank of Japan and the People\u2019s Bank of China. South Korea\u2019s Kospi is hovering near the flatline, while Kosdaq is up nearly 0.7%. Japan\u2019s Nikkei is also up, while China\u2019s CSI 300 and Hong Kong\u2019s Hang Seng are both down. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on Wall Street<\/strong>, futures are calm following a losing week for the S&amp;P 500 and the Nasdaq. <\/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\">30,776<\/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: +23.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 50.73<\/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 50.87<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB)<\/strong><\/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 50.75<\/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 50.85<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,060<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (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\">9,265<\/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: -3.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,830<\/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\">+0.4% (YTD: +19.0%)<\/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>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\">6,051<\/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\">0.0% (YTD: +26.9%)<\/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>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\">8,300<\/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: +7.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,968<\/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: +9.9%)<\/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>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 74.49<\/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\">+1.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 3.28<\/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\">-5.1%<\/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>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 2,676<\/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%<\/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 102,645<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.6% (YTD: +143.1%)<\/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 0.1% at yesterday\u2019s close<\/strong> on turnover of EGP 3.1 bn (26.3% below the 90-day average). Local investors were the sole net buyers. The index is up 23.6% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Cleopatra Hospitals (+3.3%), Faisal Islamic Bank - USD (+1.9%), and ADIB (+1.8%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Juhayna (-1.9%), TMG Holding (-1.8%), and Egypt Kuwait Holding - EGP (-1.2%).<\/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\/crypto\/\">crypto<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/donald-trump\/\">Donald Trump<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"657158\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">13<\/div>\r\n\r\n                        <p class=\"f-graphik\">BLACKBOARD<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/diving-into-the-governments-plan-for-national-universities\/\">\r\n                            Diving into the government\u2019s plan for national universities<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/diving-into-the-governments-plan-for-national-universities\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The Higher Education Ministry is planning to add eight new national universities to the current roster of 20, aiming to meet the increasing demand for affordable, high-quality education, ministry spokesperson Adel Abdel Ghaffar told EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where will we see these new universities? <\/strong>The eight new universities set to open next year include campuses in Cairo, Kafr El Sheikh, Sohag, and New Valley.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>National universities at a glance:<\/strong> Some 55k students enrolled in national universities during the current academic year, representing a 34% y-o-y increase. National universities across Egypt offer 410 programs across 200 faculties, covering fields such as medicine, engineering, and humanities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART: <\/strong>While both state and national universities are public universities operating under the supervision of the Supreme Council of Universities, state universities typically have higher admission thresholds and larger student bodies, while national universities offer smaller class sizes and more modern curricula. National universities also tend to have higher tuition fees and pricier accommodation compared to the more affordable, traditional housing at state universities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In line with market needs:<\/strong> National universities continue to reduce the gap between public and private universities by offering modern systems and labor-market-focused programs. Many programs are designed in collaboration with industry to prepare graduates for the workforce. For example, Helwan National University offers 22 specialized programs, including medicine, pharmacy, and digital transformation, and serves 10k students, according to Helwan University president Sayed Kandil.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why are students flocking to national universities? <\/strong>National universities have become an attractive option due to their lower entry requirements \u2014 5% below public universities \u2014 and mid-range tuition fees that fall between public and private universities. These institutions also offer credit-hour systems, operating on a two-semester model. They maintain close ties to established public universities and offer programs of similar qualities, which enhances their credibility among students and parents, President of the Egyptian E-Learning Universities Hisham Abdelsalam told EnterpriseAM. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking to international players:<\/strong> National universities are following private institutions in establishing collaborations with international universities. Institutions like Galala University and King Salman University offer dual degrees through agreements with global players such as Arizona State University and the University of Louisville.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The private sector could play a bigger role:<\/strong> To enhance investment, the government is exploring private sector participation in establishing and managing national universities. According to a government source, legal frameworks now allow private entities to enter the sector under similar regulations, including tuition caps and admission policies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Challenges remain: <\/strong>While the expansion has been significant, challenges like achieving international accreditation, addressing high living costs for students, and bridging rural-urban disparities in access persist. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- National universities recently underwent some changes <\/strong>after the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ba5b5b0c-2ce7-4f84-97e8-bbd14ba4d4d5\/cabinet-approves-changes-to-debt-management-committee-and-setting-up-an-energy-planning-committee-%2B-tax-facilities\" style=\"\" rel=\"noopener\">cabinet<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ba5b5b0c-2ce7-4f84-97e8-bbd14ba4d4d5\/cabinet-approves-changes-to-debt-management-committee-and-setting-up-an-energy-planning-committee-%2B-tax-facilities\" style=\"\" rel=\"noopener\">approved<\/a> draft amendments to the law governing private and national universities that introduce the foundation year system. The amendments allow high school students who wish to enter a specific college without meeting admissions criteria to join a foundation year beginning academic year 2024-25.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DIG DEEPER- <\/strong>We took a look at how the education sector is preparing for the foundation year system in a <a target=\"_blank\" rel=\"noopener\">Blackboard<\/a> published earlier this year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong> The government\u2019s long-term strategy sees more private sector involvement in the establishment and management of national universities, with plans to introduce incentives to encourage investment in underserved areas. <\/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 education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>The Higher Education Ministry has invested EGP 10 bn in upgrading the <\/strong><strong>digital infrastructure of public universities<\/strong> as part of its efforts to integrate AI in the learning process to support students. (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MOHESREGYPT\/posts\/pfbid0mp8ayREQKvssS6xWbagLvJe8n3PNknJYqXdzmd88SUK2NSCrTtKU61PVLkhknk8Rl?rdid=bERCjdHrQZR7zgG8\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<li><strong>The Egyptian Trade Union Federation launched an initiative to qualify 1 mn <\/strong><strong>workers to work inF the digital economy<\/strong>. The initiative will offer workshops aimed at equipping workers with the digital skills to address labor market challenges.(<a target=\"_blank\" href=\"https:\/\/www.etufegypt.com\/archives\/83566\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<li><strong>FSI, IEB offer master\u2019s degree in financial markets:<\/strong> The Financial Regulatory Authority\u2019s Financial Services Institute has partnered with Spain\u2019s Institute of Stock Market Studies (IEB) to offer a master's degree in financial markets. The program aims to equip students with advanced knowledge of global financial practices. (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02VuxhyLdVRHigqPTFgevqUfFhuSQFutSt7DpuMeXj8ckqwSLSKgBfdRW7tGDM6aWRl\" style=\"\" rel=\"noopener\">Statement<\/a>) <\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/blackboard\/\">Blackboard<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/higher-education-ministry\/\">Higher Education Ministry<\/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=\"657160\" 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\/12\/16\/657160\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657160\" class=\"content-area-description single-story post-657160 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;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12-21 December (Thursday-Saturday): Turathna handicrafts and heritage exhibition, Egypt International Exhibitions Center, Cairo<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15-17 December (Sunday-Tuesday): Nebu Expo for Gold & Jewelry, 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;\">16-17 December (Monday-Tuesday): Mining World Conference 2024, 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;\">22 December (Sunday): The Nahda University Economic Forum\u2019s third edition is set to take place<\/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;\">22 December (Sunday): Waha Connect 2024, New Assiut Technology Park, 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;\">26 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2024: The launch of the high-speed train line linking Ain Sokhna with Al Alamein City<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">January: 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;\">February: Orascom Pyramids Entertainment to bring total investments in the Pyramids Plateau to EGP 1.5 bn<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1 January (Wednesday): The minimum pension will <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0AuG4sE6XqJHZFNt85jbQW7k9u1dgwtmCJK27h1VgQHQ5n2YKnDFX6wGVj3kRPGKgl\" style=\"\">increase<\/a><\/span><span style=\"font-weight:400;\"> to EGP 1.5k, and the maximum to EGP 11.6k<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>14 January (Tuesday): The 4th edition of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/share\/v\/1GhaaZRjmj\/\" style=\"\">Egypt Economic Summit<\/a><\/span><span style=\"font-weight:400;\"> will take place.<\/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>17-19 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypes.com\/conferences\/technical-conference\/?utm_content=&CNAME=Enterprise%20Mea&CID=&utm_campaign=TC%20Speaker%20Announcement&utm_medium=email&utm_source=Adestra\" style=\"\">EGYPES Technical Conference<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibition Center, 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;\">18-19 February (Saturday-Sunday): German-Egyptian Joint Economic Committee meetings, 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;\">7-10 April 2025 (Monday-Thursday): EFG Hermes One on One 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:700\">May 2025:<\/span> <span>French rolling stock manufacturer Alstom will submit technical and financial bids for <\/span><span>Cairo Metro Line 6. <\/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 style=\"font-weight:400;\">Early 2025: The Communications Ministry will unveil the second edition of its national AI strategy in early 2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1H 2025: 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;\">1Q 2025: Eipico\u2019s biopharma plant to begin 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;\">1Q 2025: Finance Ministry to launch public consultations on its tax policy document<\/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;\">2Q 2025: Financial Regulatory Authority (FRA) to introduce derivatives on the EGX <\/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;\">2Q 2025: Safaga Terminal 2 to start operations<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight: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: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 style=\"font-weight:400;\">2025: Release of the government\u2019s Startup Charter document <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 January-7 February: Egypt to host the African Games<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place<\/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;\">September 2028: First unit of the Dabaa nuclear power plant begins operations<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Priority industries | New projects | Potential IPO | Funds from Germany | Giza Zoo 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