{"id":581155,"date":"2023-02-21T00:00:00","date_gmt":"2023-02-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/21\/avanz-capital-eyes-sme-space-national-navigation-mulls-a-return-to-the-egx\/"},"modified":"2023-02-21T00:00:00","modified_gmt":"2023-02-21T00:00:00","slug":"avanz-capital-eyes-sme-space-national-navigation-mulls-a-return-to-the-egx","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/21\/avanz-capital-eyes-sme-space-national-navigation-mulls-a-return-to-the-egx\/","title":{"rendered":"Avanz Capital eyes SME space + National Navigation mulls a return to the EGX"},"content":{"rendered":"

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<\/span>More funds for Egyptian SMEs:<\/span> Avanz Manara, a private equity vehicle focused <\/span>on Egyp<\/span>tian <\/span>SMEs, plans to make three new investments during 1H 2023, Haytham Wagih, <\/span>senior director at <\/span>Avanz Capital Management<\/a><\/span>, reportedly told <\/span>Al Mal<\/a><\/span>. The firm is considering investing in three funds targeting SMEs, he said, without disclosing further information about the plans. <\/span><\/p>\n

Avanz Manara has a lot of state backing: <\/span>Avanz Capital <\/span>launched Manara last March<\/a><\/span> with initial capital of EGP 905 mn, and plans to raise this to EGP 2 bn via two capital increases over the course of this year, he said. <\/span>The company\u2019s founding shareholders are a who\u2019s who of state financial institutions <\/span>including the National Bank of Egypt, Banque Misr, Banque du Caire, Misr Insurance Holding Company, Suez Canal Bank, and the United Bank. Also shareholders: Attijariwafa Bank Egypt and Ahli United Bank, both private-sector entities.<\/span><\/p>\n

The story so far:<\/span> The fund has currently invested EGP 7 mn in local firms: EGP 5 mn it handed to <\/span>Egypt-focused PE outfit Ezdehar and EGP 2 mn into logistics startup Trella, Wagih said.<\/span><\/p>\n

EgyCop<\/a><\/span> is expected to go live next month<\/span>,<\/span> <\/span>the newspaper <\/span>quotes Avanz Capital co-founder and chief portfolio and risk officer Hany Assaad as saying. The fund, which is being managed by Avanz, will invest in low-carbon projects that issue carbon credits, and plans to raise an initial EGP 1 bn, he said, adding that they\u2019re still waiting on a license from the Financial Regulatory Authority. The FRA previously said it was working on the license as well as on amendments to the Capital Markets Act that would validate the use of carbon certificates as a tradable security. <\/span><\/p>\n

Background:<\/span> Planning Minister Hala El Said announced the creation of the fund at COP27 in November. It is set to complement the EGX\u2019s voluntary carbon market, which is set for launch in the middle of this year.<\/span><\/p>\n

Africa-wide low-carbon fund in the works: <\/span>Avanz <\/span>Capital <\/span>and <\/span>MGM Financial & Banking Consultants<\/a><\/span> are considering launching an Africa-wide fund investing in low-carbon projects that issue carbon credits \u201cin partnership with an international financial institution,\u201d Assaad was quoted as saying in a separate <\/span>Al Mal<\/a><\/span> article<\/span>. The fund will target an initial capital of USD 200 mn and is envisaged as an Africa-wide version of <\/span>EgyCop<\/span>, Assaad said. <\/span><\/p>\n

The African fund is eyeing investing in Ghana, Nigeria, and Morocco <\/span>as a start, Assaad said. The companies are in talks with investors from South Africa, Tanzania, and Kenya to participate in the fund, MGM board member Sherif El Diwany is quoted as saying. <\/span><\/p>\n

ALSO IN CAPITAL MARKETS-<\/span><\/p>\n

National Navigation Company mulls a return to the EGX: <\/span>The board of the <\/span>state-owned <\/span>Nati<\/a><\/span>onal Navigation Company (NN<\/a><\/span>C)<\/a><\/span> will propose re-listing the company on the EGX in the next shareholders\u2019 meeting in March, <\/span>Al Mal<\/a><\/span> reports, citing unnamed sources.<\/span><\/p>\n

The company was kicked off the bourse in 2009: <\/span>The EGX delisted NNC in 2009 for failing to comply with listing regulations, including the requirement to freefloat a minimum of 5% of the company, according to the newspaper.<\/span><\/p>\n

Why go back? <\/span>The company is looking to re-list on the EGX in order to fund new capital expenditure that includes the purchase of seven new cargo vessels for USD 189 mn, according to the news outlet.<\/span><\/p>\n

Shareholder structure:<\/span> <\/span>The company is majority-owned by the Holding Company for Maritime <\/span>and Land Transport (HCMLT) (69%), while the Suez Canal Authority\u2019s Canal Shipping Agencies owns 20%, according to <\/span>the Public Enterprises Ministry<\/a><\/span>. The remaining shares are held by state-owned banks and financial institutions.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

More funds for Egyptian SMEs: Avanz Manara, a private equity vehicle focused on Egyptian SMEs, plans to make three new investments during 1H 2023, Haytham Wagih, senior director at Avanz Capital Management, reportedly told Al Mal. The firm is considering investing in three funds targeting SMEs, he said, without disclosing further information about the plans. […]<\/p>\n","protected":false},"author":1,"featured_media":581156,"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":[7303],"tags":[7324,102,6398,72,125,758,287],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-581155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-markets","tag-avanz-capital-management","tag-capital-markets","tag-egycop","tag-enterpriseam","tag-investment-watch","tag-private-equity","tag-smes","wpautop","entry"],"acf":{"mongo_id":"e71b9923-9a7c-448c-b995-ac034cfe96d2","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/5\/money-under-mattress1600px.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[581147],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/2\/.b594728a-047d-4aa5-8f2b-93b42c5b6076.mp3"},"yoast_head":"\nAvanz Capital eyes SME space + National Navigation mulls a return to the EGX - 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\/2023\/02\/21\/avanz-capital-eyes-sme-space-national-navigation-mulls-a-return-to-the-egx\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Avanz Capital eyes SME space + National Navigation mulls a return to the EGX\" \/>\n<meta property=\"og:description\" content=\"More funds for Egyptian SMEs: Avanz Manara, a private equity vehicle focused on Egyptian SMEs, plans to make three new investments during 1H 2023, Haytham Wagih, senior director at Avanz Capital Management, reportedly told Al Mal. 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Speaking to us this week is Hany Assaad (LinkedIn), co-founder and chief\u2026","rel":"","context":"In "My Morning Routine"","block_context":{"text":"My Morning Routine","link":"https:\/\/enterpriseam.com\/egypt\/my-morning-routine\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/261.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":614425,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/japans-yazaki-kicks-off-construction-of-auto-parts-factory-plus-news-from-ora-developers-bosta-taqa-volt\/","url_meta":{"origin":581155,"position":3},"title":"Japan\u2019s Yazaki kicks off construction of auto parts factory. 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PLUS: Avanz Capital is planning fresh investment in Egypt","author":"enterpriseam admin","date":"14 September 2023","format":false,"excerpt":"The initiative is one of many the government has introduced in response to the FX crunch","rel":"","context":"In "Also on our Radar"","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\/2023\/9\/977.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564001,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/02\/four-state-owned-banks-to-launch-egp-1-bn-fund-in-4q2021\/","url_meta":{"origin":581155,"position":5},"title":"Four state-owned banks to launch EGP 1 bn fund in 4Q2021","author":"enterpriseam admin","date":"2 August 2021","format":false,"excerpt":"The EGP 1 bn fund of funds which is expected to be launched by Egypt\u2019s biggest state banks will launch in 4Q2021, an official at one of the banks told us, confirming statements by the National Bank of Egypt\u2019s (NBE) Group Head of Investment & Assets Management Ahmed El Said\u2026","rel":"","context":"In "SPEED ROUND: CAPITAL MARKETS"","block_context":{"text":"SPEED ROUND: CAPITAL MARKETS","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/581155","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=581155"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/581155\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/581147"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/581156"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=581155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=581155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=581155"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=581155"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=581155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}