{"id":553013,"date":"2022-10-16T13:24:10","date_gmt":"2022-10-16T13:24:10","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/16\/this-evening-eep-is-acquiring-a-majority-stake-in-selah-el-telmeez-one-finance-launches-consumer-finance-services-plus-xi-addresses-communist-party-congress\/"},"modified":"2022-10-16T13:24:10","modified_gmt":"2022-10-16T13:24:10","slug":"this-evening-eep-is-acquiring-a-majority-stake-in-selah-el-telmeez-one-finance-launches-consumer-finance-services-plus-xi-addresses-communist-party-congress","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/16\/this-evening-eep-is-acquiring-a-majority-stake-in-selah-el-telmeez-one-finance-launches-consumer-finance-services-plus-xi-addresses-communist-party-congress\/","title":{"rendered":"THIS EVENING: EEP is acquiring a majority stake in Selah El Telmeez + One Finance launches consumer finance services. Plus: Xi addresses Communist Party Congress"},"content":{"rendered":"

Good afternoon, wonderful people.<\/strong> We\u2019re hitting the ground running at the start of the week as we jump straight into what is shaping up to be a busy news week.<\/p>\n

THE BIG STORIES TODAY<\/strong><\/p>\n

<\/a> Student lifeline <\/strong>Selah El Telmeez<\/a><\/strong> is preparing to welcome a new majority<\/strong> owner: <\/strong>EFG Hermes and Sovereign Fund of Egypt\u2019s (SFE) education management firm Egypt Education Platform (EEP) has inked an agreement to acquire an undisclosed majority stake in education platform Selah El Telmeez (SET), according to a statement (pdf)<\/a>. The SFE will also acquire a minority stake in SET, the statement said. EEP Communications Director Amr Sherif declined to disclose the exact stake or value of the transaction when asked by Enterprise.<\/p>\n

We have a new BNPL player in town: <\/strong>Consumer financing player One Finance<\/a> \u2014 owned by Ayady for investment, Tamweely and Post for Investment (PFI) \u2014 has launched its services in Egypt, according to a press release (pdf)<\/a>. The company\u2019s integrated consumer finance platform covers sectors like consumer goods and services, household appliances and durable goods, auto loans, education fees, and home finishing.<\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

Leading the conversation in the international press this afternoon:<\/strong> Chinese President Xi Jinping\u2019s address to China\u2019s Communist Party Congress, which is expected to see him lock down an unprecedented third term in office. Among the topics Xi touched on during his speech (which lasted nearly two hours): Foreign interference in Taiwan, a slow green energy transition to ensure energy security, and his commitment to China\u2019s zero-covid strategy. The story is on the front pages of Reuters<\/a>, CNBC<\/a>, Bloomberg<\/a>, and the Financial Times<\/a>.<\/p>\n

HAPPENING NOW-<\/strong><\/p>\n

Cairo Water Week kicked off earlier today and runs until this Wednesday, 19 October. Some<\/strong> 18.5k <\/strong>attendees from 90 international and regional organizations are convening at the Nile Ritz Carlton in Cairo for the event, according to its website<\/a>. The focus of this year\u2019s edition is on preparations to discuss water resources at COP27. Catch the full agenda here.<\/a><\/p>\n

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** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM<\/strong>:<\/p>\n