{"id":678624,"date":"2025-12-17T00:00:00","date_gmt":"2025-12-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=678624"},"modified":"2025-12-26T12:13:17","modified_gmt":"2025-12-26T12:13:17","slug":"will-bdcs-ipo-make-the-imf-happy","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/will-bdcs-ipo-make-the-imf-happy\/","title":{"rendered":"Will BdC\u2019s IPO make the IMF happy?"},"content":{"rendered":"<section id=\"678626\" 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=\"678626\">\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\/2025\/12\/17\/the-road-to-export-paradise-runs-through-office-buildings-not-factories\/\">\r\n                            HAPPENING TODAY: The road to export paradise runs through office buildings, not factories + Koshary makes Unesco list                        <\/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\/2025\/12\/17\/the-road-to-export-paradise-runs-through-office-buildings-not-factories\/\" 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\/2025\/12\/17\/the-road-to-export-paradise-runs-through-office-buildings-not-factories\/')\">\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\/2025\/12\/17\/the-road-to-export-paradise-runs-through-office-buildings-not-factories\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The road to export paradise runs through office buildings, not factories&url=https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/the-road-to-export-paradise-runs-through-office-buildings-not-factories\/\">\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\/2025\/12\/17\/the-road-to-export-paradise-runs-through-office-buildings-not-factories\/&title=The road to export paradise runs through office buildings, not factories\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+road+to+export+paradise+runs+through+office+buildings%2C+not+factories+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F12%2F17%2Fthe-road-to-export-paradise-runs-through-office-buildings-not-factories%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\/2025\/12\/17\/the-road-to-export-paradise-runs-through-office-buildings-not-factories\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-678626\" class=\"content-area-description single-story post-678626 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-american-university-in-cairo tag-biotech tag-enterpriseam tag-exports tag-fdi tag-food tag-taxation tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people, and thank you for your patience this week <\/strong>while we took a few days off to tool-up for 2026. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We take a limited number of publication holidays every year.<\/strong> It\u2019s a chance to work ahead, think big thoughts, and get organized \u2014 particularly when we\u2019re planning something new. Breaks like these don\u2019t just allow us to keep our journalism sharp by engaging in a bit of Maoist self-criticism, but to cook up new things.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh, Enterprise? Beyond self-flagellation, what do you guys do on these breaks?<\/strong> Past publication breaks are where we built the things that became:<\/p><ul>\n<li>Our annual <strong>events series<\/strong>, including our flagship EnterpriseAM Egypt Forum<\/li>\n<li>Our <strong>audio products<\/strong>, including Morning Drive and Making It<\/li>\n<li>Our <strong>launches<\/strong> in the UAE, Saudi Arabia, and the MENA-India corridor<\/li>\n<li>The <strong>relaunch<\/strong> of EnterpriseAM Weekend in Egypt<\/li>\n<li>\u2026and plenty more<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">We\u2019ll have lots more for you in the months to come \u2014 stay tuned. \ud83d\ude42 <\/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>WE\u2019RE BACK IN BUSINESS THIS MORNING with an issue packed with stories that <\/strong><strong>speak to optimism <\/strong>about the shape of things to come in 2026. The rundown:<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EXCLUSIVE- Banque du Caire is readying what will be not just the most-anticipated IPO <\/strong><strong>of 2026, but the most important in Egypt since long before covid. <\/strong>We have the inside track on the transaction, which has captured the interest of investors in major financial centers \u2014 and that could help us close the latest reviews of our USD 8 bn IMF program. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While the IMF won\u2019t count it as \u201cprivatization,\u201d staff there should still welcome the sale of <\/strong><strong>land at Ras Banas<\/strong>, which we can exclusively report is back on the auction block a bit more than a year after officials were said to be shopping it to Saudi Arabia. We expect land parcels there to be sold piecemeal (the sum of the parts is greater than the whole, the logic goes) and to pique the interest of investors from Qatar and UAE. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE-<\/strong> <strong>AfDB<\/strong> has stepped in to de-risk a key component of the Finance Ministry\u2019s 2026 debt blitz and <strong>Afreximbank<\/strong>\u2019s award of a USD 250 mn contract for its new Cairo HQ and trade proves the institution sees Egypt being the financial center of trade in Africa for decades to come. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have all of this and more in this morning\u2019s news well, below. <\/p><p class=\"tag-border-left\">From the Dep\u2019t of Self Congratulations<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>Kudos to koshary, which made the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ich.unesco.org\/en\/RL\/koshary-daily-life-dish-and-practices-associated-with-it-02278\" style=\"\" rel=\"noopener\">Unesco<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/ich.unesco.org\/en\/RL\/koshary-daily-life-dish-and-practices-associated-with-it-02278\" style=\"\" rel=\"noopener\">List of Intangible Cultural Heritage for 2025.<\/a><\/strong> Although we have an unofficial ban on koshary at Enterprise HQ (the pungent odor of its fried onions isn\u2019t exactly conducive to a harmonious work environment), we still love a good plate of koshary outside the office.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What exactly is this list \u2014 and why is koshary on it? <\/strong>It\u2019s a list that gets compiled annually by the UN\u2019s cultural agency to promote visibility, awareness, and dialogue about the diversity of living heritage worldwide. Koshary made the 2025 installment not just because it\u2019s our national comfort food, but because it\u2019s a dish that represents equality amongst Egyptians. Its simple ingredients \u2014 rice, lentils, macaroni, vermicelli, fried onions, chickpeas, and tomato sauce \u2014 make it an easy, affordable, and tasty meal that is available everywhere and can be eaten by anyone.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In addition to koshary, the 2025 list includes things like ayeneh-kari <\/strong>(intricate mirrorwork from Iran), yodeling (from Switzerland), and traditional saree weaving (from Bangladesh).<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/omny.fm\/shows\/enterpriseam-egypt\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/780.jpg?ssl=1\"><\/a> <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p class=\"tag-border-left\">Morning must read- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The roa<\/strong><strong>d to export paradise runs through office buildings, not factories. <\/strong>That\u2019s the argument our friend Helmy Ghazi makes in fDi Intelligence, a Financial Times publication. Rolling out the welcome mat for businesses that export services, not manufactured goods, is the surest path to FX stability, he argues. With Egypt now a more cost-effective destination for what insiders call \u201cglobal competency centers\u201d (\u201ccall centers\u201d is pass\u00e9), global majors are catching on. More than 240 global companies now run digital and shared-services centers here \u2014 up from around 90 in 2022. Exports of IT services have already hit USD 6 bn annually, with the Madbouly government targeting USD 9 bn by 2030.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s in? <\/strong>PepsiCo, Schneider Electric, Unilever, ADCB, HSBC, and Mashreq are among the bold-faced names with operations on the ground.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Helmy<\/strong><strong>\u2019s core argument: Services require minimal capital, import almost nothing, and <\/strong><strong>earn <\/strong><strong>hard currency<\/strong> \u2014 making them \u201cquasi-equity for the national balance sheet.\u201d <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The one downside risk: <\/strong>It\u2019s anyone\u2019s guess how generative AI will hit demand for what used to be called \u201cbusiness process outsourcing.\u201d But if we\u2019re going to make it stick, attracting providers of the higher-value services delivered through global competency centers will be key. And this much is clear: For the foreseeable future, a human\u2019s going to be in the loop, even with \u201cagentic AI\u201d on track to be the buzzword of early 2026.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Highly recommended: <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.fdiintelligence.com\/content\/d3185b31-ad29-47cf-a456-dad13a64469a\" style=\"\" rel=\"noopener\">Egyptian ingenuity will be reborn through services<\/a><\/strong><strong>.<\/strong><\/p><p class=\"tag-border-left\">FinMin gives BPO and staffing companies a break<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Speaking of services: Staffing and business-process outsourcing (BPO) companies <\/strong><strong>in Egypt are getting a break from the tax man.<\/strong> Instead of charging VAT on the total invoice amount (which includes workers\u2019 salaries), eligible firms will charge and remit VAT only on their specific service fee or commission, according to a decision signed off by Finance Minister Ahmed Kouchouk earlier this week.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>The Finance Ministry is on a drive to boost Egypt\u2019s service economy, having recently clarified that service exports were subject to VAT at a \u201czero rate\u201d provided an Egyptian firm is delivering a service to a non-resident client abroad. <\/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\">More of this, please<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>The biotech labor market is getting a shot in the arm as AUC and Min<\/strong><strong>apharm are <\/strong><strong>giving life to Africa\u2019s first biotech academy.<\/strong> The university is set to oversee curriculum design and accreditation and Minapharm will provide technical expertise, mentorship, and access to its R&amp;D facilities, AUC said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/12\/789.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>.<\/p><p class=\"tag-border-left\">Data point<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>USD 1.3 bn \u2014 the total value of investments booked at the Qantara West Industrial <\/strong><strong>Zone <\/strong>despite it only breaking ground on its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/677feca9-1a20-416f-bf02-5c79bfe2d793\/%253cmark%253ehengsheng%253c%2Fmark%253e-lays-foundation-stone-for-usd-70-mn-textile-factory-in-the-sczone\" style=\"\" rel=\"noopener\">first project in July 2024<\/a>. The increasingly important project in the country\u2019s industrialization strategy now has 48 operational or in-the-works projects, expected to employ nearly 70k people.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Enter Jasan Group \u2014 the zone\u2019s newest <\/strong><strong>addition<\/strong><strong> and the latest in a long line of Chinese <\/strong><strong>textile and garment companies calling Qantara West home. <\/strong>The company will invest USD 100 mn in a 100% self-financed factory that will \u2014 no spoilers here \u2014 export 90% of production, the SCZone said in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0wiZe3p2LvtmuJj7aT9VTsm6hMHmuzw8eXn5tahAXoACQMPcPZeWVwDwuHSs4KAZ7l\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong>, <\/strong><strong>the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\" rel=\"noopener\">MENA-India Corridor<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Will Gulf sovereigns continue backing Paramount Skydance\u2019s hostile bid for Warner <\/strong><strong>Bros Discovery? <\/strong>The question hangs in the air this morning amid widespread reports that <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/media\/warner-preparing-to-tell-shareholders-to-reject-paramount-offer-38f069ae?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">WBD plans to reject Paramount\u2019s bid<\/a> in favour of Netflix. The news sent Affinity partners, the key conduit for GCC backing of Paramount\u2019s hostile bid, running to the exit. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Affinity, the private equity outfit led by Donald Trump\u2019s son-in-law Jared Kushner, said <\/strong><strong>overnight it would \u201cno longer pursue the opportunity.\u201d<\/strong> Kushner helped Paramount line up some USD 24 bn in funding for the bid from Saudi\u2019s PIF, the Qatar Investment Authority, and Abu Dhabi\u2019s L\u2019imad Holding.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- It\u2019s a rough morning for the auto industry: <\/strong>Volkswagen is <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/12\/16\/business\/volkswagen-dresden-factory-closed.html\" style=\"\" rel=\"noopener\">shutting a plant<\/a> in Germany, its home market, for the first time in its 88-year history. <strong>That\u2019s bad news for any country (including Egypt) hoping that VW would choose it as the site for a new assembly plant <\/strong>\u2014 German unions would go bonkers if it invested significant sums abroad after shutting a plant at home. Ford, meanwhile, is taking a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/fords-195-billion-ev-writedown-five-things-know-2025-12-16\/\" style=\"\" rel=\"noopener\">USD 19 bn writedown<\/a> as it walks-back plans to go all-in on EVs.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Keep an eye on oil this morning:<\/strong> Crude futures dipped overnight after the Trump administration said it would impose a \u201ctotal and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-12-16\/trump-says-he-s-ordering-a-blockade-of-oil-tankers-in-venezuela\" style=\"\" rel=\"noopener\">complete blockade<\/a> of all sanctioned oil tankers\u201d going into and and out of Venezuela.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The Trump administration is in damage-control mode after the White House <\/strong><strong>chief of staff gave a stunningly candid interview <\/strong>to Vanity Fair in which she said she was <strong>\u201caghast\u201d at the destruction of USAID<\/strong>, called Elon an \u201codd duck\u201d and ketamine user, and talked smack about JD Vance\u2019s love of conspiracy theories. <strong>Read:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.vanityfair.com\/news\/story\/trump-susie-wiles-interview-exclusive-part-1\" style=\"\" rel=\"noopener\">Susie Wiles, JD Vance, and the \u201cJunkyard Dogs\u201d: The White House Chief of Staff on Trump\u2019s Second Term (Part 1 of 2)<\/a> <\/p><p class=\"tag-border-left\">PSA-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong><strong>C<\/strong><strong>airo<\/strong> is in for a windy day, with the Egyptian Meteorological Authority forecasting stiff, intermittent winds sweeping the entire country today. You can expect a high of 20\u00b0C in Cairo today and an overnight low of 11\u00b0C, according to our favorite weather app. <strong>Alexandria<\/strong> can expect much the same, 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\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2503.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> EnterpriseAM\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>It doesn\u2019t matter how many solar and wind parks you build if the grid can\u2019t handle the load.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/american-university-in-cairo\/\">American University in Cairo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/biotech\/\">biotech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/exports\/\">exports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/taxation\/\">TAXATION<\/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=\"678627 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=\"678627\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/678627\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-678627\" class=\"content-area-description single-story post-678627 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.instagram.com\/p\/DSIKoodjCGX\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/808.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Christmas is just the beginnin<\/span><span style=\"font-weight:700\">g<\/span><span style=\"font-weight:700\">. <\/span><span style=\"\">At Somabay, the celebrations unfold day by day, night by <\/span><span>night, building all the way into the New Year. From rooftop takeovers and beach parties to late-night performances and full-band shows, the season is curated to let you choose your moment and celebrate it your way <\/span><span>&mdash;<\/span><span style=\"font-weight:400;\"> right through the final countdown and beyond.<\/span><\/p>\n<p><span style=\"font-weight:700\">New Year&rsquo;s and <\/span><span style=\"font-weight:700\">beyond<\/span><span style=\"font-weight:700;\"> at Somabay. <\/span><\/p>\n<p><span style=\"font-weight:700;\">Celebrate when it feels right: Pick your night. Book your plans.<\/span><\/p>\n<p><span style=\"font-weight:700\">Discover the full December &amp; NYE cale<\/span><span style=\"font-weight:700\">ndar <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/www.instagram.com\/p\/DSIKoodjCGX\/\" style=\"\">here<\/a><\/span><span style=\"font-weight:700\">.<\/span> <span style=\"font-weight:700;\">Welcome the New Year at Somabay.<\/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=\"678628\" 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=\"678628\">\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\">The Big Story Today<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/will-plans-to-ipo-banque-du-caire-make-the-imf-happy\/\">\r\n                            Egypt\u2019s plans to IPO Banque du Caire could be the breakthrough we need to close IMF reviews                        <\/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\/2025\/12\/17\/will-plans-to-ipo-banque-du-caire-make-the-imf-happy\/\" 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\/2025\/12\/17\/will-plans-to-ipo-banque-du-caire-make-the-imf-happy\/')\">\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\/2025\/12\/17\/will-plans-to-ipo-banque-du-caire-make-the-imf-happy\/\">\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=Will plans to IPO Banque du Caire make the IMF happy?&url=https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/will-plans-to-ipo-banque-du-caire-make-the-imf-happy\/\">\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\/2025\/12\/17\/will-plans-to-ipo-banque-du-caire-make-the-imf-happy\/&title=Will plans to IPO Banque du Caire make the IMF happy?\">\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=Will+plans+to+IPO+Banque+du+Caire+make+the+IMF+happy%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F12%2F17%2Fwill-plans-to-ipo-banque-du-caire-make-the-imf-happy%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\/2025\/12\/17\/will-plans-to-ipo-banque-du-caire-make-the-imf-happy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2410.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"678629\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/will-plans-to-ipo-banque-du-caire-make-the-imf-happy\/2410-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2410.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2410.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2410.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2410.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-678628\" class=\"content-area-description single-story post-678628 post type-post status-publish format-standard has-post-thumbnail hentry category-the-big-story-today tag-banque-du-caire tag-enterpriseam tag-imf tag-state-privatization-program tag-the-big-story-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>EXCLUSIVE- The perception that Egypt hasn\u2019t made enough progress on <\/strong><strong>the privatization program <\/strong><strong>may be slowing the IMF\u2019s ongoing reviews of our USD 8 bn financing program. <\/strong>The Madbouly government and IMF staff have reached an agreement on key items, but the IMF\u2019s approval on the reviews is still pending, according to two senior government officials closely involved with the process who spoke with EnterpriseAM on condition they not be named.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Officials in Cairo hope to get sign-off in a matter of days<\/strong>, we\u2019re told, but expect the IMF to push the government for a firm timeline on the sale of key assets \u2014 and to further empower the private sector.<\/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\">Is BdC just what the doctor ordered?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The potential breakthrough: A landmark sale of Banque du Caire (BdC).<\/strong> Sources with knowledge of the transaction tell us that Banque du Caire intends to go public via an IPO on the Egyptian Exchange in 2Q 2026. The sale could see the state part with up to 30% of the bank and would be unquestionably the most-anticipated IPO in Egypt since well before the global pandemic.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CI Capital has already taken Banque du Caire on the road <\/strong>for what investors we spoke with called an \u201cearly look\u201d roadshow to gauge the appetite of potential anchor investors. Anchors are funds that could have the appetite and AUM base to write a meaningful ticket for an IPO that could be worth up to USD 500 mn. The roadshow has already passed through London, New York, and the UAE, and investor appetite is strong, we\u2019re told. <\/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\">Our take: The building blocks of a strong IPO are in place<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CEO Hussein Abaza <\/strong><strong>\u2014 a perennial favorite among emerging markets investors and a multi-time <\/strong><strong>Extel honoree \u2014 has sharpened the bank\u2019s competitive edge<\/strong>, which includes unique brand equity and a strong balance sheet. The sale of a significant stake in BdC would be Egypt\u2019s first compelling listing in years and the clearest signal yet to the IMF that the state is taking seriously demands that it step back from direct competition with the private sector. Banque du Caire declined to comment when we reached out yesterday.<\/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\">Why it matters: The IMF and the private sector will rejoice<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IMF and the government agree the macro gauges are all pointing in the right <\/strong><strong>direction.<\/strong> Cabinet also points to Qatar\u2019s massive USD 29.7 bn Alam El Roum project, saying it shows we\u2019re open for investors. Meanwhile, Egypt has made progress on politically difficult fuel subsidy cuts and expanded its asset monetization program to 50 state-owned companies, up from 35. Suez Canal traffic is showing signs of recovery, with mega-ships beginning to return. The easing of geopolitical tensions should help Egypt attract fresh investment from within the region and abroad, officials here expect.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IMF sees things a bit differently<\/strong>, three diplomatic sources in Cairo tell us. The Fund, they say, views Alam El Roum as asset monetization, not privatization. While the deal helps shore up our balance sheet, it doesn\u2019t fundamentally get the state out of the economy or create space for private competition \u2014 arguably the core structural demand of the IMF program.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cabinet has been beating the drum on big assets. <\/strong>We reported last week that the Gabal El-Zeit wind-power plant could be offered for sale in February and officials are in the final stages of preparing the master plan for the sale of land at Ras Banas, as we note below. The government is also taking bids for the contract to manage Hurghada International Airport \u2014 and Luxor International Airport could be next, we\u2019re told. <strong>The airports should attract wide interest<\/strong> from players ranging from strategics to classical infrastructure investors \u2014 even bn\u2019aire investor Naguib Sawiris has said he\u2019s interested. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the IMF expects the government to show progress on \u201cmeaningful\u201d privatization<\/strong>, one Western diplomat told us, saying the asset-sale program is \u201cone of the most critical conditions for ensuring sustainable growth and mitigating the impact of potential economic shocks going forward.\u201d<\/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\">What\u2019s next?<\/p>\n<ul>\n<li><strong>On the IMF review<\/strong>, we\u2019re waiting to see when Egypt appears on the executive board\u2019s public calendar \u2014 we\u2019re not there as of dispatch time this morning. <\/li>\n<li><strong>For Banque du Caire<\/strong>, we\u2019d expect more chatter in the market over the course of winter \u2014 2Q means the bank will be in the market in the traditional May-June IPO window. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- A high-level committee will begin work in early January<\/strong> to determine the fate of several companies previously at the top of the asset-sale queue.<\/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\/banque-du-caire\/\">Banque du Caire<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-big-story-today\/\">THE BIG STORY 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=\"678630\" 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=\"678630\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Tourism<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/12ish-months-later-ras-banas-is-back-on-the-block\/\">\r\n                            Gov\u2019t is putting the finishing touches on a master plan to sell Ras Banas next year                        <\/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\/2025\/12\/17\/12ish-months-later-ras-banas-is-back-on-the-block\/\" 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\/2025\/12\/17\/12ish-months-later-ras-banas-is-back-on-the-block\/')\">\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\/2025\/12\/17\/12ish-months-later-ras-banas-is-back-on-the-block\/\">\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=12(ish) months later, Ras Banas is back on the block&url=https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/12ish-months-later-ras-banas-is-back-on-the-block\/\">\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\/2025\/12\/17\/12ish-months-later-ras-banas-is-back-on-the-block\/&title=12(ish) months later, Ras Banas is back on the block\">\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=12%28ish%29+months+later%2C+Ras+Banas+is+back+on+the+block+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F12%2F17%2F12ish-months-later-ras-banas-is-back-on-the-block%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\/2025\/12\/17\/12ish-months-later-ras-banas-is-back-on-the-block\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/517.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"678631\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/12ish-months-later-ras-banas-is-back-on-the-block\/517-jpg-37\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/517.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"517.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/517.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/517.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-678630\" class=\"content-area-description single-story post-678630 post type-post status-publish format-standard has-post-thumbnail hentry category-tourism tag-enterpriseam tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Ras Banas is on deck to become a new Red Sea tourist destination. <\/strong>Senior government officials are finalizing a master plan for the sale of Ras Banas in 2026 and are now in the \u201cfinal stages\u201d of drafting the investment blueprint for the strategic Red Sea headland, a government official with knowledge of the process tells EnterpriseAM. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Don\u2019t expect a single \u201cmegasale\u201d on the order of Ras El Hekma or Alam Al Roum.<\/strong> We\u2019re told that once the cabinet signs off, the remote southeastern coastal zone will be sliced into specific projects and offered to investors \u201csequentially\u201d throughout 2026. The bet: The sum of the parts will net more for state coffers than selling it in one go to a deep-pocketed developer.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The plan envisions a mixed-use destination anchored by tourism, hotels, and residential projects. Our source declined to say how much officials hope to net from the transaction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The state has already fixed a major infrastructure headache:<\/strong> The recent conversion of nearby Berenice Airport to civilian use was the clearest signal yet that the area is being prepped for high-traffic international tourism.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> This puts hard details behind interest we\u2019ve tracked since last fall, when reports first surfaced of potential Saudi investment in the area. While a Saudi bid may yet come through, we think it more likely that developers from the UAE and Qatar will be among the first to express interest. <\/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\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"678632\" 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=\"678632\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/afdb-signs-on-as-finmin-readies-international-debt-blitz\/\">\r\n                            African Development Bank gives Egypt\u2019s next Samurai bond a boost                        <\/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\/2025\/12\/17\/afdb-signs-on-as-finmin-readies-international-debt-blitz\/\" 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\/2025\/12\/17\/afdb-signs-on-as-finmin-readies-international-debt-blitz\/')\">\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\/2025\/12\/17\/afdb-signs-on-as-finmin-readies-international-debt-blitz\/\">\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=AfDB signs on as FinMin readies international debt blitz&url=https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/afdb-signs-on-as-finmin-readies-international-debt-blitz\/\">\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\/2025\/12\/17\/afdb-signs-on-as-finmin-readies-international-debt-blitz\/&title=AfDB signs on as FinMin readies international debt blitz\">\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=AfDB+signs+on+as+FinMin+readies+international+debt+blitz+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F12%2F17%2Fafdb-signs-on-as-finmin-readies-international-debt-blitz%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\/2025\/12\/17\/afdb-signs-on-as-finmin-readies-international-debt-blitz\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/838.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"678633\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/afdb-signs-on-as-finmin-readies-international-debt-blitz\/838-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/838.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"838.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/838.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/838.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-678632\" class=\"content-area-description single-story post-678632 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-african-development-bank tag-debt-watch tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The African Development Bank <\/strong><strong>(AfDB)<\/strong><strong> is backing our return to the Samurai <\/strong><strong>bond market<\/strong>, where the Finance Ministry hopes to place a JPY-denominated sustainable bond worth the equivalent of USD 500 mn. The bond is part of a broader USD 4 bn slate of international debt issuances the ministry wants to make before the end of its current fiscal year in June 2026. Also in the package are Panda bonds, green bonds, and Eurobonds, we have <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ed292be4-f4df-4161-a233-db27154273da\/\" style=\"\" rel=\"noopener\">previously reported<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> An environmental and social assessment <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/12\/832.pdf\" style=\"\" rel=\"noopener\">released by the bank<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/12\/832.pdf\" style=\"\" rel=\"noopener\">this week (pdf)<\/a> confirms it will extend a partial credit guarantee to help the Finance Ministry float the bond, the proceeds from which are earmarked entirely for green and sustainable projects, including renewables, clean transport (like the monorail), and water management.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- What\u2019s the AfDB actually doing? <\/strong>The AfDB\u2019s partial credit guarantee (or PCG) will cover a portion of the bond\u2019s principal. This \u201ccredit wrap\u201d is the secret sauce: It provides critical comfort to Asian investors skittish about emerging markets, which should allow Egypt to secure longer maturities and cheaper pricing than we could on our own.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is the second leg of the strategy:<\/strong> The transaction mirrors the structure of the RMB 3.5 bn Panda bond Egypt issued October 2023, which was also backed by the AfDB and the Asian Infrastructure Investment Bank.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Watch for the masterplan:<\/strong> The Finance Ministry should now be putting the final touches on its new public debt strategy, which it has said to expect before the end of this month. The roadmap aims to slash public debt to under 75% of GDP within three years (down from c. 85% last year) and cap debt servicing costs at 7% of GDP.<\/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\">The \u201ccredit wrap\u201d is the new normal<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our take: <\/strong>With global rates still steep, naked sovereign issuances are expensive. By lining up AfDB backing, the Finance Ministry is signaling that its strategy isn\u2019t just about borrowing more \u2014 it\u2019s about borrowing smarter. Using multilateral guarantees to de-risk Egyptian debt allows the state to access single-digit yields in Japan and China, balancing out the higher costs of traditional Eurobonds.<\/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\">We\u2019re becoming regulars in Asia<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> Successfully floating a Samurai bond in 2026 after the Panda issuance three years ago proves that Egypt can systematically access Asian capital markets. It\u2019s a step toward rebalancing our portfolio of debt to reduce reliance on hot money and traditional Western institutional investors, creating a more resilient funding mix.<\/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\">What\u2019s next?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mandate letters.<\/strong> With the AfDB assessment now public \u2014 a key prerequisite for the guarantee \u2014 we expect the Finance Ministry to mandate investment banks (likely including Citi and our friends at HSBC) as early as this month.<\/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\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\/african-development-bank\/\">African Development Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt 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=\"678634\" 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=\"678634\">\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\">Construction<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/hassan-allam-lands-usd-250-mn-afreximbank-african-trade-center-contract-will-it-unlock-more-funding-for-egypt\/\">\r\n                            Hassan Allam lands USD 250 mn Afreximbank African Trade Center contract \u2013 will it unlock more funding for Egypt?                        <\/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\/2025\/12\/17\/hassan-allam-lands-usd-250-mn-afreximbank-african-trade-center-contract-will-it-unlock-more-funding-for-egypt\/\" 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\/2025\/12\/17\/hassan-allam-lands-usd-250-mn-afreximbank-african-trade-center-contract-will-it-unlock-more-funding-for-egypt\/')\">\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\/2025\/12\/17\/hassan-allam-lands-usd-250-mn-afreximbank-african-trade-center-contract-will-it-unlock-more-funding-for-egypt\/\">\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=Hassan Allam lands USD 250 mn Afreximbank African Trade Center contract \u2014 will it unlock more funding for Egypt?&url=https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/hassan-allam-lands-usd-250-mn-afreximbank-african-trade-center-contract-will-it-unlock-more-funding-for-egypt\/\">\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\/2025\/12\/17\/hassan-allam-lands-usd-250-mn-afreximbank-african-trade-center-contract-will-it-unlock-more-funding-for-egypt\/&title=Hassan Allam lands USD 250 mn Afreximbank African Trade Center contract \u2014 will it unlock more funding for Egypt?\">\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=Hassan+Allam+lands+USD+250+mn+Afreximbank+African+Trade+Center+contract+%E2%80%94+will+it+unlock+more+funding+for+Egypt%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F12%2F17%2Fhassan-allam-lands-usd-250-mn-afreximbank-african-trade-center-contract-will-it-unlock-more-funding-for-egypt%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\/2025\/12\/17\/hassan-allam-lands-usd-250-mn-afreximbank-african-trade-center-contract-will-it-unlock-more-funding-for-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/840.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"678635\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/hassan-allam-lands-usd-250-mn-afreximbank-african-trade-center-contract-will-it-unlock-more-funding-for-egypt\/840-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/840.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"840.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/840.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/840.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-678634\" class=\"content-area-description single-story post-678634 post type-post status-publish format-standard has-post-thumbnail hentry category-construction tag-afreximbank tag-construction tag-enterpriseam tag-finance tag-hassan-allam-construction tag-hassan-allam-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Afreximbank\u2019s new African Trade Center is the physical anchor for a big <\/strong><strong>Egypt-bound financing push<\/strong><strong>. <\/strong>The African Export-Import Bank (Afreximbank) sent a signal of confidence in Egypt, <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/12\/814.pdf\" style=\"\" rel=\"noopener\">after tapping<\/a> our friends at Hassan Allam Construction to build its USD 250 mn African Trade Center (AATC) in the New Capital. It will be the bank\u2019s largest global complex to date and will house its new global headquarters, replacing the bank\u2019s current HQ in Heliopolis.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The project site \u2014 spanning over 100k sqm \u2014 will feature a 110-room hotel and six fully <\/strong><strong>serviced residential villas.<\/strong> It will also be home to an exhibition center and a 750-seater conference center, among other facilities. <\/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\">Our take<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not (just) a real estate project: <\/strong>Afreximbank\u2019s new headquarters contract, complete with large conference and exhibition facilities, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b7379fa8-3ae2-4113-8074-77254eeb3208\/%253cmark%253e%253c%2Fmark%253eit%253cmark%253e%253c%2Fmark%253e%25e2%2580%2599%253cmark%253e%253c%2Fmark%253es%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253einterest%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253erate%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eweek%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">confirms<\/a> the bank sees Egypt as the de facto financial center for intra-African trade. <\/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\">Why it matters<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Afreximbank plans to earmark USD 2 bn <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/ahramonline\/posts\/the-african-export-import-bank-afreximbank-aims-to-provide-2-billion-in-direct-a\/1093033492852442\/\" style=\"\" rel=\"noopener\">in financing<\/a><\/strong><strong> to Egypt this year<\/strong>, according to Afreximbank\u2019s Ayman El Zoghbi\u2019s recently said. The bank has particular interest in propping up investments in energy, telecommunications, construction, and manufacturing, Afreximbank Chairman George Elombi <a target=\"_blank\" href=\"https:\/\/www.afreximbank.com\/hassan-allam-construction-awarded-a-landmark-usd-250-million-contract-to-build-the-iconic-afreximbank-african-trade-centre-in-egypts-new-capital\/\" style=\"\" rel=\"noopener\">said<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We heard back <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b7379fa8-3ae2-4113-8074-77254eeb3208\/%253cmark%253e%253c%2Fmark%253eit%253cmark%253e%253c%2Fmark%253e%25e2%2580%2599%253cmark%253e%253c%2Fmark%253es%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253einterest%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253erate%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eweek%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">in 2024<\/a><\/strong><strong> that the bank was mulling plans to more than double its <\/strong><strong>Egypt-bound financing<\/strong>, plugging an additional USD 3.2 bn into the country last year. <\/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\">What\u2019s next?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The project is scheduled to be completed in early 2029 <\/strong>and should generate some 8k direct and indirect jobs during construction, as well as some 1k jobs during its operational phase.<\/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\">Background<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A \u2018<\/strong><strong>W\u2019 <\/strong><strong>for local traders: <\/strong>Afreximbank has had significant appetite for local infrastructure projects that boost national trade capacity. Most recently, Afreximbank approved a USD 150 mn loan for Canal Sugar <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f770f26f-66f3-4135-a9dc-612e1dbb11b6\/%253cmark%253e%253c%2Fmark%253eaccor%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ewants%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eto%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eoperate%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253e22%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253enew%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ehotels%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ein%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eegypt%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">in September<\/a>. The loan for the subsidiary of the UAE\u2019s Jamal Al Ghurair Group is being used to finance the purchase of new production lines for the company's sugar factory in Minya and to increase the company's beet productivity to 36k tons per day by next year, up from 11k tons today.<\/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\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\/afreximbank\/\">AfreximBank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hassan-allam-construction\/\">Hassan Allam Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hassan-allam-holding\/\">Hassan Allam Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"678636 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=\"678636\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/678636\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-678636\" class=\"content-area-description single-story post-678636 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.business.hsbc.com\/en-gb\/solutions\/securities-services-ssv\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/787.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"678637\" 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=\"678637\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/whistleblower-as-a-service-ivoiceup-is-a-litmus-test-for-regional-appetite-to-tackle-workplace-misconduct\/\">\r\n                            Whistleblower-as-a-service iVoiceUp is a litmus test for regional appetite to tackle workplace misconduct                        <\/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\/2025\/12\/17\/whistleblower-as-a-service-ivoiceup-is-a-litmus-test-for-regional-appetite-to-tackle-workplace-misconduct\/\" 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\/2025\/12\/17\/whistleblower-as-a-service-ivoiceup-is-a-litmus-test-for-regional-appetite-to-tackle-workplace-misconduct\/')\">\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\/2025\/12\/17\/whistleblower-as-a-service-ivoiceup-is-a-litmus-test-for-regional-appetite-to-tackle-workplace-misconduct\/\">\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=Whistleblower-as-a-service iVoiceUp is a litmus test for regional appetite to tackle workplace misconduct&url=https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/whistleblower-as-a-service-ivoiceup-is-a-litmus-test-for-regional-appetite-to-tackle-workplace-misconduct\/\">\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\/2025\/12\/17\/whistleblower-as-a-service-ivoiceup-is-a-litmus-test-for-regional-appetite-to-tackle-workplace-misconduct\/&title=Whistleblower-as-a-service iVoiceUp is a litmus test for regional appetite to tackle workplace misconduct\">\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=Whistleblower-as-a-service+iVoiceUp+is+a+litmus+test+for+regional+appetite+to+tackle+workplace+misconduct+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F12%2F17%2Fwhistleblower-as-a-service-ivoiceup-is-a-litmus-test-for-regional-appetite-to-tackle-workplace-misconduct%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\/2025\/12\/17\/whistleblower-as-a-service-ivoiceup-is-a-litmus-test-for-regional-appetite-to-tackle-workplace-misconduct\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/260.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"678638\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/whistleblower-as-a-service-ivoiceup-is-a-litmus-test-for-regional-appetite-to-tackle-workplace-misconduct\/260-jpg-49\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/260.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"260.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/260.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/260.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-678637\" class=\"content-area-description single-story post-678637 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-a15 tag-enterpriseam tag-startup-watch tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>There\u2019s appetite in the region for dealing effectively with misconduct and <\/strong><strong>unethical practices \u2014 and investors seem to see the potential. <\/strong>Cairo-born, AI-powered whistle-blowing and ethics case management platform <a target=\"_blank\" href=\"https:\/\/ivoiceup.com\/\" style=\"\" rel=\"noopener\">iVoiceUp<\/a> closed a seven-figure investment round by Egypt-focused VC A15, with proceeds set to help it establish a physical presence in Saudi Arabia and the UAE, iVoiceUp co-founder Ahmed Genedy told EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The platform is already serving \u201cover 1 mn voices across leading blue-chip organizations <\/strong><strong>in the region<\/strong>,\u201d according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/12\/816.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from the startup. iVoiceUp enables \u201corganizations to detect, manage, and analyze misconduct across fraud, corruption, harassment, discrimination, and other unethical practices\u201d through anonymous reporting, Genedy told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A subscription could also pay for itself<\/strong>, with the Association of Certified Fraud Examiners claiming that organizations lose 5% of annual income on average to fraud, Genedy said. But the danger for companies is larger than this \u2014 \u201ccompanies without trusted reporting channels face reputational damage, regulatory exposure, and undetected misconduct driven by fear of retaliation,\u201d Genedy explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But why the hype now? \u201cCompliance and governance regulations across the GCC and <\/strong><strong>broader region are evolving rapidly,\u201d<\/strong> Genedy said. And iVoiceUp is in the right place at the right time, he argues, saying the company was \u201cbuilt early to address this gap and today stands as a first-mover, regionally focused platform designed for local regulatory, cultural, and operational realities.\u201d<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/a15\/\">A15<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"678639 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=\"678639\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/678639\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-678639\" class=\"content-area-description single-story post-678639 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\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/264.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"678640\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-xry9jps\" data-v=\"4\" data-block-id=\"xry9jps\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-xry9jps-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-xry9jps-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-ypvje54\" data-v=\"4\" data-block-id=\"ypvje54\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ypvje54-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ypvje54-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-yj9o3es\" data-v=\"4\" data-block-id=\"yj9o3es\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-yj9o3es-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-yj9o3es-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-jmrzhwy\" data-v=\"4\" data-block-id=\"jmrzhwy\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-jmrzhwy-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-jmrzhwy-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"678641\" 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=\"678641\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/elsewedy-eyes-the-gulf-sczone-locks-in-solar-pharma-and-sinai-tourism-investors-catch-a-break\/\">\r\n                            Elsewedy eyes the Gulf, SCZone locks in solar + pharma, and Sinai tourism investors catch a break                        <\/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\/2025\/12\/17\/elsewedy-eyes-the-gulf-sczone-locks-in-solar-pharma-and-sinai-tourism-investors-catch-a-break\/\" 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\/2025\/12\/17\/elsewedy-eyes-the-gulf-sczone-locks-in-solar-pharma-and-sinai-tourism-investors-catch-a-break\/')\">\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\/2025\/12\/17\/elsewedy-eyes-the-gulf-sczone-locks-in-solar-pharma-and-sinai-tourism-investors-catch-a-break\/\">\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=Elsewedy eyes the Gulf, SCZone locks in solar + pharma, and Sinai tourism investors catch a break&url=https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/elsewedy-eyes-the-gulf-sczone-locks-in-solar-pharma-and-sinai-tourism-investors-catch-a-break\/\">\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\/2025\/12\/17\/elsewedy-eyes-the-gulf-sczone-locks-in-solar-pharma-and-sinai-tourism-investors-catch-a-break\/&title=Elsewedy eyes the Gulf, SCZone locks in solar + pharma, and Sinai tourism investors catch a break\">\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=Elsewedy+eyes+the+Gulf%2C+SCZone+locks+in+solar+%2B+pharma%2C+and+Sinai+tourism+investors+catch+a+break+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F12%2F17%2Felsewedy-eyes-the-gulf-sczone-locks-in-solar-pharma-and-sinai-tourism-investors-catch-a-break%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\/2025\/12\/17\/elsewedy-eyes-the-gulf-sczone-locks-in-solar-pharma-and-sinai-tourism-investors-catch-a-break\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/853.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"678642\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/elsewedy-eyes-the-gulf-sczone-locks-in-solar-pharma-and-sinai-tourism-investors-catch-a-break\/853-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/853.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"853.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/853.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/853.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-678641\" class=\"content-area-description single-story post-678641 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-ad-ports tag-also-on-our-radar tag-construction tag-debt tag-energy tag-enterpriseam tag-logisticics tag-ma-watch tag-manufacturing tag-maritime tag-securitization wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p class=\"tag-border-left\">Elsewedy\u2019s USD 500 mn GCC push<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Elsewedy Electric plans to establish nine facilities in Saudi Arabia and two in Qatar<\/strong>, CEO Ahmed El Sewedy told <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/financing-and-investment\/110892\/%D8%A7%D9%84%D8%B3%D9%88%D9%8A%D8%AF%D9%8A-%D8%A5%D9%84%D9%83%D8%AA%D8%B1%D9%8A%D9%83-%D8%AA%D8%B3%D8%AA%D8%AB%D9%85%D8%B1-%D9%86%D8%B5%D9%81-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%81%D9%8A-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%88%D9%82%D8%B7%D8%B1\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The expansion aims to diversify export hubs and strengthen regional competitiveness, investor relations head Noha Agaiby told EnterpriseAM.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The company is earmarking SAR 1.5 bn (USD 400 mn) for the Saudi facilities. They include two plants in Yanbu, one of which will produce specialized cables and another for copper rods (a JV with <a target=\"_blank\" href=\"https:\/\/www.alfanar.com\/\" style=\"\" rel=\"noopener\">Alfanar<\/a>) with a capacity exceeding 130k tons. Riyadh will see plants for cable accessories, fiberglass, EV chargers, and water meters, while a new Dammam facility will produce power transformers.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In Qatar<\/strong>, the company plans to invest QAR 250 mn (USD 67 mn) in plants for copper and aluminum rods and power distribution transformers, with production set to begin in 2027.<\/p><p class=\"tag-border-left\">SCZone locks-in solar + pharma facilities<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Atum Solar broke ground on a USD 220 mn solar manufacturing <\/strong><strong>complex in the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0e7T3hLXnMPbMhUktt89woSKrXyWE19rktZp89Y4nsdJMxUo5wmq5rVrrDc7vne9il\" style=\"\" rel=\"noopener\">SCZone<\/a><\/strong><strong>. <\/strong>The facility is set to produce an annual 2 GW each of solar cells and modules, plus 1 GWh of battery storage systems. The JV between Egypt\u2019s <a target=\"_blank\" href=\"https:\/\/ahgroupeg.com\/Home\/\" style=\"\" rel=\"noopener\">AH Group<\/a>, China\u2019s JA Solar, the UAE\u2019s Global South Utilities, and Bahrain\u2019s Infinity Capital plans to export all solar cell output to global markets, while modules and storage systems will target local and regional markets. The facility is expected to create some 850 jobs.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/gennecs.com\/\" style=\"\" rel=\"noopener\">Gennecs Egypt Pharmaceuticals<\/a><\/strong><strong> laid the cornerstone yesterday for what will be a <\/strong><strong>USD <\/strong><strong>220 mn vaccine production facility.<\/strong> The GennVax complex in the SCzone will kick off production at some 70-80 mn doses per year and has a nameplate capacity of 270 mn at full capacity. The company hopes to export up to 40% of its output. Our friend Hassan El Khatib, Egypt\u2019s minister of investment, did the honors at a ceremony yesterday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong>project is moving towards implementation more than two years after it was <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2583fa6e-4631-4569-ad50-be28c5a3e0b4\" style=\"\" rel=\"noopener\">granted a<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2583fa6e-4631-4569-ad50-be28c5a3e0b4\" style=\"\" rel=\"noopener\">golden license<\/a><\/strong><strong>, <\/strong>according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/1AFpdKSAb4\/\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. The facility will be the largest of its kind in Egypt, producing 29 types of vaccines and sera. <\/p><p class=\"tag-border-left\">Tamweel, Souhoola wrap securitizations<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Tamweel Mortgage has closed a EGP 2.1 bn securitization issuance. <\/strong>The sale is the second under its EGP 5 bn, three-year multi-issuance program, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/12\/788.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The issuance, backed by a portfolio of mortgage receivables, included five tranches rated between AA+ (sf) and A- (sf) by Meris.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> Al Ahly Pharos and Beltone served as financial advisors and lead arrangers on the transaction, with Dreny &amp; Partners providing counsel. Al Ahly Pharos, NBE, Banque du Caire, Banque Misr, and SCBank served as underwriters. ADCB acted as custodian, SCBank as bookrunner, and Baker Tilly as auditor.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Meanwhile, Souhoola has concluded a EGP 585 mn issuance. <\/strong><strong>The<\/strong><strong> three-tranche offering is the second under its three-year, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/78410394-0a7a-454a-8ba2-b3b825649fb8\/%253cmark%253esouhoola%253c%2Fmark%253e-closes-first-egp-478-mn-securitized-bond-issuance\" style=\"\" rel=\"noopener\">EGP 3.5 bn<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/78410394-0a7a-454a-8ba2-b3b825649fb8\/%253cmark%253esouhoola%253c%2Fmark%253e-closes-first-egp-478-mn-securitized-bond-issuance\" style=\"\" rel=\"noopener\">securitization program<\/a><\/strong><strong>,<\/strong> according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/12\/830.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The issuance tenors range from 12 to 36 months, rated Prime 1, A+, and A- by Meris. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong>CI Capital and CIB served as financial advisors, arrangers, global managers, issuance managers and bookrunners. <\/p><p class=\"tag-border-left\">Tourism investors in South Sinai catch a break<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Tourism Development Authority (TDA) is offering relief measures<\/strong> to investors in the Taba-Nuweiba area to cushion the blow from the war in Gaza. Investors will be able to defer debt repayments for an additional year and suspend repayments for 18 months without interest penalties. Land payment exemptions can be extended to three years, <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/economics\/110883\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B9%D8%AA%D9%85%D8%AF-%D8%AD%D8%B2%D9%85%D8%A9-%D8%AA%D8%B3%D9%87%D9%8A%D9%84%D8%A7%D8%AA-%D9%84%D9%85%D8%B3%D8%AA%D8%AB%D9%85%D8%B1%D9%8A%D9%86-%D9%81%D9%8A-%D8%B3%D9%8A%D9%86%D8%A7%D8%A1-%D8%AA%D8%B6%D8%B1%D8%B1%D9%88%D8%A7-%D9%85%D9%86-%D8%AD%D8%B1%D8%A8-%D8%BA%D8%B2%D8%A9\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> quotes TDA head Mostafa Mounir as having said. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ad-ports\/\">AD Ports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/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\/logisticics\/\">logisticics<\/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\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maritime\/\">maritime<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/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=\"678643\" 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=\"678643\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/gulf-investors-%e2%9d%a4%ef%b8%8f-stocks-heading-into-2026-as-private-equity-suffers-from-illiquidity-premium\/\">\r\n                            Gulf investors \u2764\ufe0f stocks heading into 2026, as private equity suffers from \u201cilliquidity premium\u201d                        <\/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\/2025\/12\/17\/gulf-investors-%e2%9d%a4%ef%b8%8f-stocks-heading-into-2026-as-private-equity-suffers-from-illiquidity-premium\/\" 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\/2025\/12\/17\/gulf-investors-%e2%9d%a4%ef%b8%8f-stocks-heading-into-2026-as-private-equity-suffers-from-illiquidity-premium\/')\">\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\/2025\/12\/17\/gulf-investors-%e2%9d%a4%ef%b8%8f-stocks-heading-into-2026-as-private-equity-suffers-from-illiquidity-premium\/\">\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=Gulf investors \u2764\ufe0f stocks heading into 2026, as private equity suffers from \u201cilliquidity premium\u201d&url=https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/gulf-investors-%e2%9d%a4%ef%b8%8f-stocks-heading-into-2026-as-private-equity-suffers-from-illiquidity-premium\/\">\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\/2025\/12\/17\/gulf-investors-%e2%9d%a4%ef%b8%8f-stocks-heading-into-2026-as-private-equity-suffers-from-illiquidity-premium\/&title=Gulf investors \u2764\ufe0f stocks heading into 2026, as private equity suffers from \u201cilliquidity premium\u201d\">\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=Gulf+investors+%E2%9D%A4%EF%B8%8F+stocks+heading+into+2026%2C+as+private+equity+suffers+from+%E2%80%9Cilliquidity+premium%E2%80%9D+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F12%2F17%2Fgulf-investors-%25e2%259d%25a4%25ef%25b8%258f-stocks-heading-into-2026-as-private-equity-suffers-from-illiquidity-premium%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\/2025\/12\/17\/gulf-investors-%e2%9d%a4%ef%b8%8f-stocks-heading-into-2026-as-private-equity-suffers-from-illiquidity-premium\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/124.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"678644\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/17\/gulf-investors-%e2%9d%a4%ef%b8%8f-stocks-heading-into-2026-as-private-equity-suffers-from-illiquidity-premium\/124-jpg-27\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/124.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"124.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/124.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/124.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-678643\" class=\"content-area-description single-story post-678643 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-kuwait tag-planet-finance tag-private-equity tag-real-estate tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Investors across the Gulf view public equities as the most attractive asset class <\/strong><strong>on a risk-adjusted basis heading into 2026<\/strong>, favoring the liquidity and historical reliability of public markets over other asset classes, according to Sico\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/12\/796.pdf\" style=\"\" rel=\"noopener\">Investor Return Expectations in the GCC 2026 survey<\/a>. This is followed by fixed income and real estate.<\/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 and outside sources.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investors are generally targeting annual returns of 9-12% for the asset class<\/strong> \u2014 a target that Sico Group\u2019s head of research Nishit Lakhoti broadly aligns with the asset class\u2019 long-term 8-9% total return CAGR in the GCC.<\/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\/2025\/12\/847.png?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the other hand, most investors are demanding the highest returns from private equity<\/strong> <strong>compared to other asset classes<\/strong>, given persistent illiquidity and exit risk in the sector. Most investors now require a minimum unleveraged return of around 13% to commit capital. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Blame it on the \u201cilliquidity premium.\u201d<\/strong> That\u2019s how Sico Capital CEO Wissam Haddad refers to the spread between the 9-12% target for equities and the 13%+ requirement for PE, which he says comes as softer IPO markets have made exits harder, forcing investors to demand higher compensation for the risk of having capital trapped in longer holding periods or continuation funds.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cash might not be king?<\/strong> Despite expectations of 5-6% returns on liquidity holdings, Sico Group Deputy Group CEO Ali Marshad said investors may be underestimating the impact of rate cuts, noting that yields paying 5% today could drift closer to 4.25% over the coming year as policy eases, potentially forcing capital back into risk assets to maintain returns.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The same goes for government bond yields: <\/strong>In the fixed income space, investors in Saudi Arabia, the UAE, and Qatar are looking for 5% annual returns on 10-year USD government bonds, while those in Oman, Kuwait, and Bahrain are eyeing closer to a 6% yield. Easing inflation and rate cuts will likely pull most GCC sovereign yields below 5%, with Bahrain remaining the key outlier, Marshad says.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The safe wagers for investors in the Gulf? The UAE and Saudi Arabia<\/strong>, as usual \u2014 though confidence in Saudi Arabia eased slightly y-o-y amid concerns over liquidity and market performance. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And the new kids on the block:<\/strong> Oman, Kuwait, and Bahrain have all seen optimism improve, with Kuwait in particular seeing investor confidence surge to 41% this year, up from 28%, according to the survey. This was led by reform momentum and an uptick in government spending in both Oman and Kuwait. <\/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>Most Asian markets are in the green this morning<\/strong>, with Japan\u2019s Nikkei making marginal gains on the back of positive export figures that beat analyst expectations. South Korea\u2019s Kospi gained 0.7%, while Hong Kong\u2019s Hang Seng is up 0.1%. China\u2019s CSI 300 was the outlier, remaining slightly lower. <strong>Over on Wall Street<\/strong>, futures slipped overnight after a losing session for all three indices yesterday, on the back of higher unemployment figures out yesterday. <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\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\">42,002<\/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\">-1.3% (YTD: +43.2%)<\/p>\n<\/td>\n<\/tr>\n<tr style=\"height:25.8pt\">\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:50.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Down <\/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 47.35<\/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 47.49<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB<\/strong><strong>) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 47.36<\/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 47.49 <\/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\">21.00% 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\">22.00% 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\">10,452<\/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\">-1.3% (YTD: -13.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,979<\/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: +5.9%)<\/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>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\">6,110<\/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: +18.4%)<\/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>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\">6,800<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2%(YTD: +15.6%)<\/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>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\">9,684<\/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\">-0.7% (YTD: +18.5%)<\/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>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\">5,717<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +16.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 58.92<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 3.96<\/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\">+1.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 4,342<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2%<\/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 87,484<\/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\">+1.9% (YTD: -6.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P Egypt Sovereign Bond Index<\/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\">979.28<\/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\">+0.2% (YTD: +25.9%)<\/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>S&amp;P MENA Bond &amp; Sukuk<\/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\">151.77<\/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: +8.5%)<\/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>VIX (Volatility Index)<\/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\">16.48<\/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: -5.1%)<\/p>\n<\/td>\n<\/tr>\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 0.7%% yesterday<\/strong> on turnover of EGP 6.2 bn (17.0% above the 90-day average). Local investors were net buyers. The index is up 41.2% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Eastern Company (+1.8%), Oriental Weavers (+1.6%), and Fawry (+1.2%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>E-finance (-4.0%), Telecom Egypt (-3.2%), and Emaar (-2.8%). <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kuwait\/\">Kuwait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/private-equity\/\">private equity<\/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\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"678645\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">9<\/div>\r\n    \r\n                        <p class=\"f-graphik\">HARDHAT<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/it-doesnt-matter-how-many-solar-and-wind-parks-you-build-if-the-grid-cant-handle-the-load\/\"> \r\n                            It doesn\u2019t matter how many solar and wind parks you build if the grid can\u2019t handle the load<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/it-doesnt-matter-how-many-solar-and-wind-parks-you-build-if-the-grid-cant-handle-the-load\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/hardhats\/it-doesnt-matter-how-many-solar-and-wind-parks-you-build-if-the-grid-cant-handle-the-load\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/hardhats\/it-doesnt-matter-how-many-solar-and-wind-parks-you-build-if-the-grid-cant-handle-the-load\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=It doesn\u2019t matter how many solar and wind parks you build if the grid can\u2019t handle the load&url=https:\/\/enterpriseam.com\/egypt\/hardhats\/it-doesnt-matter-how-many-solar-and-wind-parks-you-build-if-the-grid-cant-handle-the-load\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/hardhats\/it-doesnt-matter-how-many-solar-and-wind-parks-you-build-if-the-grid-cant-handle-the-load\/&title=It doesn\u2019t matter how many solar and wind parks you build if the grid can\u2019t handle the load\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=It+doesn%E2%80%99t+matter+how+many+solar+and+wind+parks+you+build+if+the+grid+can%E2%80%99t+handle+the+load+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fhardhats%2Fit-doesnt-matter-how-many-solar-and-wind-parks-you-build-if-the-grid-cant-handle-the-load%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>                    <\/div>\r\n    \r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/it-doesnt-matter-how-many-solar-and-wind-parks-you-build-if-the-grid-cant-handle-the-load\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/963.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"678646\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/it-doesnt-matter-how-many-solar-and-wind-parks-you-build-if-the-grid-cant-handle-the-load\/963-jpg-43\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/963.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"963.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/963.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/963.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-678645\" class=\"content-area-description post-678645 hardhat type-hardhat status-publish has-post-thumbnail hentry category-hardhat tag-electricity tag-enterpriseam tag-hardhat tag-renewables tag-solar-power tag-wind-power wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>Egypt is lo<\/strong><strong>oking to attract USD 60 bn of electricity production investments by 2030, but <\/strong><strong>much of the planned 23 GW primarily renewables capacity risks going to waste <\/strong>if we don\u2019t get serious about grid infrastructure \u2014 and soon. And the strain on the grid is only set to increase, with a further 45 GW set to be added over the next ten years, Investment Minister Hassan El Khatib <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ec8678c-2459-446b-aff6-b73924edbccc\/a-tourism-investment-plan%3F\" style=\"\" rel=\"noopener\">said earlier this month<\/a>.<\/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>When it comes to renewables, grid infrastructure is about a whole lot more than capacity<\/strong>, because solar and wind are by their nature not predictable or steady sources of electricity generation and are always fluctuating in output. Unlike the type of centralized fossil fuel-run power plants the country is trying to replace, changes in wind speed, the sun going down or up, and even changes in cloud cover can cause rapid swings in electricity production, leading to potential blackouts and grid instability.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Complicating things is the concentration of wind projects along the Red Sea<\/strong>, positioning planned and in-the-works large-scale renewable projects far away from existing higher capacity grid infrastructure feeding Cairo and the Delta. This risks bottlenecks, where multi-bn windfarms are able to produce large amounts of energy needed elsewhere in the system, but the grid is unable to channel the energy due to a lack of high-voltage direct current transmission lines.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Solar concentration up the Nile also increases the need for new and improved grid <\/strong><strong>infrastructure<\/strong>, given Upper Egypt\u2019s historically much lower consumption of electricity and a grid to match.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And again, with renewables planned to account for 42% of the energy mix by 2030 and <\/strong><strong>60% by 2040, the issue will only become more pressing.<\/strong> In stark contrast, thermal energy accounted for 88.3% of all energy produced in the 12 months ending June 2024, according to the Egyptian Electrical Holding Company\u2019s last available annual <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/12\/824.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The solution? Modern grid infrastructure built for the job. <\/strong>To handle large amounts of fluctuating energy production from renewable sources, advanced transformers, transmission lines and towers, substations, and battery energy storage systems are needed to ensure stable frequencies and adapt to changing inputs. The often long distances between renewables projects and the homes they power also need modern transmission lines to protect against significant electricity losses during transmission.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The lack of sufficient grid infrastructure has long been a bugbear of investors and <\/strong><strong>industry insiders, but it\u2019s also a global problem.<\/strong> A minimum of 3k GW of renewables projects are \u201cwaiting in grid connection queues \u2013 equivalent to five times the amount of solar PV and wind capacity added in 2022,\u201d the International Energy Agency said in its Electricity Grids and Secure Energy Transitions <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/12\/825.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a> from 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government is signalling that it recognizes the challenge<\/strong>, with El Khatib laying out the need for USD 45 bn in distribution infrastructure investments to integrate new clean capacity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>International backers of our renewables push are also on board<\/strong>, with the European Bank of Reconstruction and Development this week <a target=\"_blank\" href=\"https:\/\/www.ebrd.com\/home\/news-and-events\/news\/2025\/ebrd-backed-grid-investments-pave-way-for-greener-egypt.html\" style=\"\" rel=\"noopener\">committing<\/a> EUR 200 mn to help fuel the Egyptian Electricity Transmission Company\u2019s grid infrastructure plans under the Nexus of Water, Food and Energy\u2019s energy pillar.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hardhat\/\">Hardhat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/solar-power\/\">solar power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wind-power\/\">wind power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"678647\" 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\/2025\/12\/17\/678647\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-678647\" class=\"content-area-description single-story post-678647 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;\">DECEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25 December: (Thursday): 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;\">2H 2025: Potential visit by Chinese President Xi Jinping to 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;\">4Q 2025: The beginning of construction works on China\u2019s State Grid two solar projects.<\/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;\">4Q 2025: GB Auto starts assembling one of China\u2019s Great Wall Motor models in 4Q 2025.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4Q 2025-1Q 2026: Kasrawy Group to launch first <\/span><span>Avatr<\/span><span style=\"font-weight:400;\"> EV models in 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: 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:400;\">Before 2025-end: The government will launch two ro-ro shipping lines with Saudi Arabia and Turkey.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2026 <\/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;\">JANUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1 January (Thursday): European Union\u2019s Carbon Border Adjustment Mechanism (CBAM) to fully come into effect.<\/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 January (Wednesday): Coptic Christmas. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25 January (Sunday): Revolution Day \/ Police Day. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FEBRUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-12 February (Tuesday-Thursday): Gitex Global\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/share\/p\/1QkF8DUZBj\/\" style=\"\">AI Everything Middle East & Africa<\/a><\/span><span style=\"font-weight:400;\"> Summit <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">19 February (Thursday): First day of Ramadan (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MARCH<\/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 March (Sunday): IMF to hold its seventh review of Egypt\u2019s USD 8 bn EFF arrangement.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 March: (Saturday): Eid El Fitr starts (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 March - 1 April (Monday-Wednesday): Egypt International Energy Conference and Exhibition 2026 (EGYPES)  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">APRIL<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12 April (Sunday): Coptic Easter. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25 April (Saturday): Sinai Liberation Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 May (Friday): Labor Day. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27-29 May (Wednesday-Friday): Eid El Adha (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">May: NEBU Egypt\u2019s Gold & Jewelry Exhibition. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE: <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 June (Tuesday): National holiday in observance of June 30 Revolution (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 July (Thursday): National holiday in observance of Revolution Day (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST<\/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 August (Wednesday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 September (Tuesday): IMF to hold its eighth review of Egypt\u2019s USD 8 bn EFF arrangement.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>27-29 September (Sunday-Tuesday): Egypt will host the fourth edition of the Global Conference on Population, Health and Human Development.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 October (Tuesday): Armed Forces Day. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight: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:700\">Early 2026:<\/span><span style=\"font-weight:400;\"> Passenger operations on the New Administrative Capital\u2013Nasr City monorail scheduled to begin.<\/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\">Early 2026: <\/span><span style=\"font-weight:400;\">The government will launch the second package of tax facilitation measures. <\/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\">1Q 2026: <\/span><span style=\"font-weight:400;\">Trial operations for the Ain Sokhna\u2013Sixth of October section of Egypt\u2019s first high-speed rail line scheduled to begin.<\/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 2026: End of extension for developers on 15% interest rates for land installment payments <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2H 2026: Operations at Deli Glass Co\u2019s new USD 70 mn glassware factory kick off.<\/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>April 2027: Tenth of Ramadan <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8320d4df-e1a7-405e-be07-08e6590aff0e\/\" style=\"\">dry port and logistics hub<\/a><\/span><span style=\"font-weight:400;\"> 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: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;\">2027: Egypt to host EBRD\u2019s annual meetings for 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;\">2027: Egypt-EU Summit 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;\">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\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>Ras Banas up for sale | AfDB to back our next Samurai bond issuance | Afreximbank is long Egypt | Whistleblowing as a service.<\/p>\n","protected":false},"featured_media":678625,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-678624","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"33a19b81-94a6-43fb-a965-17fb7f71bb8d","teaser":"Ras Banas up for sale | AfDB to back our next Samurai bond issuance | Afreximbank is long Egypt | Whistleblowing as a service.","photo_url":"https:\/\/ent.news\/2025\/7\/656.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Will BdC\u2019s IPO make the IMF happy? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/will-bdcs-ipo-make-the-imf-happy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Will BdC\u2019s IPO make the IMF happy?\" \/>\n<meta property=\"og:description\" content=\"Ras Banas up for sale | AfDB to back our next Samurai bond issuance | Afreximbank is long Egypt | Whistleblowing as a service.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/will-bdcs-ipo-make-the-imf-happy\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-26T12:13:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ent.news\/2025\/7\/656.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1\" \/>\n\t<meta property=\"og:image:height\" content=\"1\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/will-bdcs-ipo-make-the-imf-happy\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/will-bdcs-ipo-make-the-imf-happy\/\",\"name\":\"Will BdC\u2019s IPO make the IMF happy? - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/will-bdcs-ipo-make-the-imf-happy\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/will-bdcs-ipo-make-the-imf-happy\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/656.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2025-12-17T00:00:00+00:00\",\"dateModified\":\"2025-12-26T12:13:17+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/will-bdcs-ipo-make-the-imf-happy\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/issues\/will-bdcs-ipo-make-the-imf-happy\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/will-bdcs-ipo-make-the-imf-happy\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/656.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/656.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/will-bdcs-ipo-make-the-imf-happy\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Issues\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/AMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Will BdC\u2019s IPO make the IMF happy?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Will BdC\u2019s IPO make the IMF happy? - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/issues\/will-bdcs-ipo-make-the-imf-happy\/","og_locale":"en_US","og_type":"article","og_title":"Will BdC\u2019s IPO make the IMF happy?","og_description":"Ras Banas up for sale | AfDB to back our next Samurai bond issuance | Afreximbank is long Egypt | Whistleblowing as a service.","og_url":"https:\/\/enterpriseam.com\/egypt\/issues\/will-bdcs-ipo-make-the-imf-happy\/","og_site_name":"EnterpriseAM Egypt","article_modified_time":"2025-12-26T12:13:17+00:00","og_image":[{"url":"https:\/\/ent.news\/2025\/7\/656.jpg","width":1,"height":1,"type":"image\/jpeg"}],"twitter_card":"summary_large_image","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/will-bdcs-ipo-make-the-imf-happy\/","url":"https:\/\/enterpriseam.com\/egypt\/issues\/will-bdcs-ipo-make-the-imf-happy\/","name":"Will BdC\u2019s IPO make the IMF happy? - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/will-bdcs-ipo-make-the-imf-happy\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/will-bdcs-ipo-make-the-imf-happy\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/656.jpg?fit=%2C&ssl=1","datePublished":"2025-12-17T00:00:00+00:00","dateModified":"2025-12-26T12:13:17+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/will-bdcs-ipo-make-the-imf-happy\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/issues\/will-bdcs-ipo-make-the-imf-happy\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/will-bdcs-ipo-make-the-imf-happy\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/656.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/656.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/will-bdcs-ipo-make-the-imf-happy\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Issues","item":"https:\/\/enterpriseam.com\/egypt\/AMarchives\/"},{"@type":"ListItem","position":3,"name":"Will BdC\u2019s IPO make the IMF happy?"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/678624","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/issue"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/678624\/revisions"}],"predecessor-version":[{"id":678669,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/678624\/revisions\/678669"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/678625"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=678624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=678624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=678624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}