{"id":557869,"date":"2021-09-08T13:52:46","date_gmt":"2021-09-08T13:52:46","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/08\/tonight-mtns-record-round-a-very-long-list-of-things-that-should-be-on-your-egypt-calendar\/"},"modified":"2021-09-08T13:52:46","modified_gmt":"2021-09-08T13:52:46","slug":"tonight-mtns-record-round-a-very-long-list-of-things-that-should-be-on-your-egypt-calendar","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/08\/tonight-mtns-record-round-a-very-long-list-of-things-that-should-be-on-your-egypt-calendar\/","title":{"rendered":"TONIGHT: MTN\u2019s record round + a very long list of things that should be on your Egypt calendar"},"content":{"rendered":"

Good afternoon, everyone, and welcome to another busy newsday<\/strong>, with our top story being a blockbuster:<\/p>\n

THE BIG STORIES TODAY SO FAR-<\/strong><\/p>\n

<\/a> #1- Our friends at MNT-Halan have pulled off what we think is <\/strong>the biggest fintech round<\/a><\/strong>ever to take place in MENA<\/a><\/strong>, raising c. USD 120 mn from a who\u2019s who of investors that includes financial services-focused PE house Apis, the UK\u2019s Development Partners International (DPI) and Lorax Capital Partners.<\/p>\n

Emirati fintech player Tabby previously held the crown as the <\/strong>\u201cmost-funded\u201d<\/a><\/strong> fintech in <\/strong>the region<\/strong>, having raised a total of USD 132 mn after a USD 50 mn round. MNT-Halan has comfortably blown past that milestone with the region\u2019s biggest-ever fintech raise. We\u2019ll have more on the transaction tomorrow morning, including a quick look at what\u2019s next for MNT-Halan.<\/p>\n

Forgive us, then, if we declare Egypt the fintech capital of the Arab world. <\/strong>Add e-payments giant Fawry to the mix, throw in e-Finance\u2019s upcoming IPO and we\u2019re easily the most exciting market in the neighborhood \u2014 and that\u2019s before you start talking about the dozen (or more) other compelling and credible players out there, from Khazna and Kashat to Thndr and Paymob. The list goes on and on.<\/p>\n

#2-<\/strong> Colliers International maintained its optimistic forecast for Egypt\u2019s hotel occupancy <\/strong>through 2021<\/strong> in its September report on MENA hotels (pdf)<\/a>. <\/strong>Occupancy at Sharm El Sheikh hotels is forecast to reach 45% over the year, while 50% of Hurghada and 52% of Cairo\u2019s hotel capacity is expected to be occupied, marking a y-o-y increase of 111% and 91% respectively.<\/p>\n

#3- Speed Medical said that it had paid the shareholders of New Al Safwa Specialized <\/strong>Hospital EGP 4 mn in June as part of its compensation for the months delay on the transaction<\/strong>, the company said in a bourse filling (pdf)<\/a>. The company also confirmed that it will be upping its offer for the acquisition after sellers voiced complaints about the slowness of the regulatory approvals from the Health Ministry.<\/p>\n

^^ We\u2019ll have chapter and verse on all three stories <\/strong>in tomorrow\u2019s edition of EnterpriseAM.<\/p>\n

HAPPENING NOW- The two-day <\/strong>Egypt-International Cooperation Forum (ICF)<\/a><\/strong> kicked off <\/strong>today <\/strong>at the Nile Ritz-Carlton in Cairo, bringing together representatives from African and Arab governments, leading Egyptian and international businesses and banks, multilateral lenders, and international institutions including the UN, World Bank, OECD to discuss international development issues such as climate change and the pandemic.<\/p>\n

Covid-19 has put sustainable growth at the forefront,<\/strong> International Cooperation Minister Rania Al Mashat said<\/a> in her opening remarks, highlighting the role of the private sector, and the importance of leveraging agreements such as the African Continental Free Trade Agreement in promoting regional cooperation. President Abdel Fattah El Sisi also highlighted<\/a> the need for a climate-friendly approach to development in light of global environmental threats. Bloomberg<\/a>also took note of the forum, speaking to Al Mashat about Egypt\u2019s bid to attract broader investment.<\/p>\n

<\/a> The state\u2019s privatization program will resume before the end of the year<\/strong>, Planning Minister Hala El Said said at the forum, confirming that at least two, maybe three state-owned companies would IPO between now and December, Masrawy<\/a> reports. State-owned e-finance is expected to be among the companies to offer stakes, with unnamed government sourcestelling El Borsa yesterday<\/a> that 10% of the company could be offered as soon as next month.<\/p>\n

You can check out the full agenda for the forum <\/strong>here (pdf)<\/a><\/strong>.<\/strong><\/p>\n

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

<\/a> Good news for Dubai Expo 2020: Saudi Arabia has opened up travel to and from the UAE<\/strong>, according to a press release (pdf)<\/a> from the Saudi Embassy in Cairo. This comes weeks before the Dubai Expo 2020 is set to launch on 1 October, \u201copening up a key market\u201d for the large-scale event, writes Bloomberg<\/a>. Saudi also resumed travel with Argentina and South Africa after assessing the countries\u2019 epidemiological risks.<\/p>\n

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