{"id":542690,"date":"2022-01-11T04:12:36","date_gmt":"2022-01-11T04:12:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/gmg-to-open-100-branches-in-egypt-by-2026\/"},"modified":"2022-01-11T04:12:36","modified_gmt":"2022-01-11T04:12:36","slug":"gmg-to-open-100-branches-in-egypt-by-2026","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/gmg-to-open-100-branches-in-egypt-by-2026\/","title":{"rendered":"GMG to open 100+ branches in Egypt by 2026"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>UAE-based retailer <\/strong><strong><a href=\"https:\/\/www.gmg.com\/\">GMG<\/a><\/strong><strong> plans to open <\/strong><strong>over 100 sports retail stores in Egypt<\/strong> <strong>by <\/strong><strong>2026<\/strong>, it said in <a href=\"https:\/\/ent.news\/2022\/1\/GMG-to-open-100-stores-in-Egypt-by-2026-Eng.pdf\">a statement (pdf)<\/a> yesterday. The conglomerate has established a local office in Cairo to support the expansion, which will start by opening several stores in the capital this year. GMG sports retailer Sun & Sand Sports will open branches at the City Center Almaza and the Mall of Egypt. The company is also considering entering the local e-commerce market alongside local distributors, the statement said.<\/p>\n<p><strong>MEANWHILE- The Central Bank of Egypt has issued a <\/strong><strong><a href=\"https:\/\/ent.news\/2022\/1\/Circular-dated-10-January-2022-regarding-Emergency-Liquidity-Assistance-Regulation.pdf\">circular (pdf)<\/a><\/strong><strong> that puts in place a mechanism <\/strong><strong>under which it could in the future provide emergency liquidity to banks <\/strong>that request it. The mechanism is primarily designed to provide liquidity to solvent banks if they are unable to obtain it from the interbank or financial markets. <strong>The mechanism is purely a precautionary move mandated by the Central Bank and Banking Act of 2020<\/strong>, bank deputy governor Gamal Negm told <a href=\"https:\/\/bit.ly\/31KegXJ\">Al Arabiya<\/a> late yesterday. Having the mechanism in place is both good governance and in line with international norms.<\/p>\n<p><strong>Negm stressed that local lenders have some of the strongest liquidity positions <\/strong>in emerging markets. His interview is getting domestic attention from <a href=\"https:\/\/gate.ahram.org.eg\/News\/3244585.aspx\">Ahram Gate<\/a>.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>MoneyFellows<\/strong> and<strong> e-Finance <\/strong>subsidiary <strong>e-Cards <\/strong><a href=\"https:\/\/ent.news\/2022\/1\/e-cards-moneyfellows-prl-100122.pdf\">are partnering (pdf)<\/a> to provide <strong>financing <\/strong>for recipients of government and union pensions and state support programs.<\/li>\n<li><strong>e-Finance<\/strong> will <a href=\"https:\/\/alborsaanews.com\/2022\/01\/10\/1497900\">provide<\/a><strong><a href=\"https:\/\/alborsaanews.com\/2022\/01\/10\/1497900\">smart cards<\/a><\/strong> to distribute fuel quotas to parties contracted with Misr Petroleum.<\/li>\n<li>Carton manufacturer<strong> El Wessam Pack <\/strong>will ramp up its investments to <strong><a href=\"https:\/\/bit.ly\/3tdk8DW\">EGP 400<\/a><\/strong><strong><a href=\"https:\/\/bit.ly\/3tdk8DW\">mn<\/a><\/strong> over the next two years to add <strong>new production lines<\/strong> and revamp existing ones.<\/li>\n<li><strong>President Abdel Fattah El Sisi has given the green light to the establishment of <\/strong><strong>\u2018Innovation University\u2019 <\/strong>\u2014 a private, nonprofit university in Tenth of Ramadan City that will teach scientific subjects such as engineering, IT, business administration and physiotherapy, according to a decision published yesterday <a href=\"https:\/\/tinyurl.com\/4cxmbfpu\">in<\/a><a href=\"https:\/\/tinyurl.com\/4cxmbfpu\">the Official Gazette<\/a>.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>UAE-based retailer GMG plans to open over 100 sports retail stores in Egypt by 2026, it said in a statement (pdf) yesterday. The conglomerate has established a local office in Cairo to support the expansion, which will start by opening several stores in the capital this year. GMG sports retailer Sun &#038; Sand Sports will [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,204,271,339,73,72,183,125,340,338],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-542690","post","type-post","status-publish","format-standard","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-banking","tag-central-bank-of-egypt","tag-e-finance","tag-education","tag-enterpriseam","tag-fintech","tag-investment-watch","tag-moneyfellows","tag-retail","wpautop","entry"],"acf":{"mongo_id":"249be24e-6d5e-43e1-8653-5fec7cf99e6c","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[542669],"teaser":"","voice_url":""},"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>GMG to open 100+ branches in Egypt by 2026 - 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\/2022\/01\/11\/gmg-to-open-100-branches-in-egypt-by-2026\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GMG to open 100+ branches in Egypt by 2026\" \/>\n<meta property=\"og:description\" content=\"UAE-based retailer GMG plans to open over 100 sports retail stores in Egypt by 2026, it said in a statement (pdf) yesterday. The conglomerate has established a local office in Cairo to support the expansion, which will start by opening several stores in the capital this year. GMG sports retailer Sun &amp; Sand Sports will [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/gmg-to-open-100-branches-in-egypt-by-2026\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-11T04:12:36+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/gmg-to-open-100-branches-in-egypt-by-2026\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/gmg-to-open-100-branches-in-egypt-by-2026\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"GMG to open 100+ branches in Egypt by 2026\",\"datePublished\":\"2022-01-11T04:12:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/gmg-to-open-100-branches-in-egypt-by-2026\/\"},\"wordCount\":330,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"ALSO ON OUR RADAR\",\"banking\",\"Central Bank of Egypt\",\"e-finance\",\"Education\",\"EnterpriseAM\",\"Fintech\",\"investment watch\",\"MoneyFellows\",\"retail\"],\"articleSection\":[\"Also on our Radar\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/gmg-to-open-100-branches-in-egypt-by-2026\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/gmg-to-open-100-branches-in-egypt-by-2026\/\",\"name\":\"GMG to open 100+ branches in Egypt by 2026 - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2022-01-11T04:12:36+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/gmg-to-open-100-branches-in-egypt-by-2026\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/gmg-to-open-100-branches-in-egypt-by-2026\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/gmg-to-open-100-branches-in-egypt-by-2026\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"GMG to open 100+ branches in Egypt by 2026\"}]},{\"@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\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"GMG to open 100+ branches in Egypt by 2026 - 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\/2022\/01\/11\/gmg-to-open-100-branches-in-egypt-by-2026\/","og_locale":"en_US","og_type":"article","og_title":"GMG to open 100+ branches in Egypt by 2026","og_description":"UAE-based retailer GMG plans to open over 100 sports retail stores in Egypt by 2026, it said in a statement (pdf) yesterday. 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GMG sports retailer Sun & Sand Sports will [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/gmg-to-open-100-branches-in-egypt-by-2026\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2022-01-11T04:12:36+00:00","author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/gmg-to-open-100-branches-in-egypt-by-2026\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/gmg-to-open-100-branches-in-egypt-by-2026\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"GMG to open 100+ branches in Egypt by 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