{"id":560324,"date":"2021-02-23T04:28:46","date_gmt":"2021-02-23T04:28:46","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/23\/also-on-our-radar-on-23-february-2021\/"},"modified":"2021-02-23T04:28:46","modified_gmt":"2021-02-23T04:28:46","slug":"also-on-our-radar-on-23-february-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/23\/also-on-our-radar-on-23-february-2021\/","title":{"rendered":"Also on our radar on 23 February 2021"},"content":{"rendered":"<p><strong>Fawry intends to double its authorized capital to EGP 1 bn<\/strong>, according to documents submitted to the EGX picked up by <a href=\"https:\/\/alborsaanews.com\/2021\/02\/22\/1420297\">the local press<\/a>. The company also plans to raise its issued capital by EGP 100 mn to EGP 453.65 mn through the issuance of 200 mn freeshares as a benefit-in-kind at a nominal value of EGP 0.5 apiece.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong><a href=\"https:\/\/alsharifgroup.com\/en\/\">Al Sharif Group (ASG)<\/a><\/strong> has <a href=\"https:\/\/bit.ly\/3bq12QM\">reportedly agreed<\/a> with <strong><a href=\"https:\/\/www.mandarinoriental.com\/\">Mandarin Oriental Hotel<\/a><\/strong><strong><a href=\"https:\/\/www.mandarinoriental.com\/\">Group<\/a><\/strong> to manage downtown\u2019s long dormant Shepheard Hotel, according to Holding Company for Tourism and Hotels Chairman Mervat Hataba. ASG is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8a76800f-80d2-4a49-95ac-90691b95234b\">working on refurbishing<\/a> the hotel.<\/li>\n<li>People caught <strong>dumping garbage in the country\u2019s sewage system<\/strong> could face <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1863807207130969\">fines of up to EGP 10k<\/a> and a formal investigation by the public prosecution.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Fawry intends to double its authorized capital to EGP 1 bn, according to documents submitted to the EGX picked up by the local press. The company also plans to raise its issued capital by EGP 100 mn to EGP 453.65 mn through the issuance of 200 mn freeshares as a benefit-in-kind at a nominal value [&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":[111,72,519,183,3621,955,7111],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560324","post","type-post","status-publish","format-standard","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-enterpriseam","tag-fawry","tag-fintech","tag-holding-company-for-tourism-and-hotels","tag-hospitality","tag-infrastructure","wpautop","entry"],"acf":{"mongo_id":"4be4a17a-0a0a-40e1-93da-db5b93d2fb65","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[560303],"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>Also on our radar on 23 February 2021 - 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\/2021\/02\/23\/also-on-our-radar-on-23-february-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Also on our radar on 23 February 2021\" \/>\n<meta property=\"og:description\" content=\"Fawry intends to double its authorized capital to EGP 1 bn, according to documents submitted to the EGX picked up by the local press. 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The Saudi company will finance the EGP 1.4 bn renovations of the historic hotel and will get a cut of revenues once it is\u2026","rel":"","context":"In &quot;Tourism&quot;","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549994,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/investors-show-interest-in-state-owned-hotels\/","url_meta":{"origin":560324,"position":1},"title":"Investors show interest in state-owned hotels","author":"enterpriseam admin","date":"10 October 2022","format":false,"excerpt":"Investors are lining up to snag shares in state-owned hotels: Several unnamed international investors and investment funds have submitted offers to acquire shares in hotels owned by state-owned Egyptian General Company for Tourism and Hotels (EGOTH), cabinet spokesman Nader Saad said in a statement. The government is currently evaluating the\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567952,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/13\/also-on-our-radar-on-13-december-2020\/","url_meta":{"origin":560324,"position":2},"title":"Also on our radar on 13 December 2020","author":"enterpriseam admin","date":"13 December 2020","format":false,"excerpt":"The impact of covid on air travel is becoming clearer: EgyptAir Holding Company plans to restructure its EGP 10 bn in debt owed to foreign lenders, Chairman Roshdy Zakaria said. The company has also taken out a EGP 3 bn loan from the National Bank of Egypt as well as\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":556091,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/11\/pioneers-holding-to-rebrand-insurance-for-workers-abroad-and-fawry-partners-with-uber\/","url_meta":{"origin":560324,"position":3},"title":"Pioneers Holding to rebrand, insurance for workers abroad and Fawry partners with Uber","author":"enterpriseam admin","date":"11 October 2021","format":false,"excerpt":"Egyptian workers abroad will be able to get state-backed ins. policies here at home starting 2022 under a decision (pdf) by the Financial Regulatory Authority. The decision places a state body that had been responsible for ins. against traveling abroad in charge of tallying up expat workers and ins. them\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":675578,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/11\/16\/govt-to-set-up-usd-80-mn-international-tourist-port-in-new-alamein\/","url_meta":{"origin":560324,"position":4},"title":"Gov\u2019t to set up USD 80 mn international tourist port in New Alamein","author":"enterpriseam admin","date":"16 November 2025","format":false,"excerpt":"PLUS- Fawry is planning to invest over EGP 1.6 bn each year to upgrade its tech infrastructure, develop products, and expand abroad","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2538.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543447,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/fawry-sees-400-y-o-y-boom-in-online-payments-in-2021\/","url_meta":{"origin":560324,"position":5},"title":"Fawry sees 400% y\u2013o-y boom in online payments in 2021","author":"enterpriseam admin","date":"1 February 2022","format":false,"excerpt":"Fawry saw transaction values surge last year: The e-payments giant processed EGP 6 bn worth of cashless POS transactions through its Fawry Accept service in 2021, up 232% y-o-y, and EGP 5 bn worth of online payments, up 400% y-o-y, the company said in a statement (pdf) this week. 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