{"id":586756,"date":"2023-05-16T00:00:00","date_gmt":"2023-05-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/16\/this-evening-eib-plans-to-invest-eur-50-mn-in-egyptian-vc-firms-per-year\/"},"modified":"2023-05-16T00:00:00","modified_gmt":"2023-05-16T00:00:00","slug":"this-evening-eib-plans-to-invest-eur-50-mn-in-egyptian-vc-firms-per-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/16\/this-evening-eib-plans-to-invest-eur-50-mn-in-egyptian-vc-firms-per-year\/","title":{"rendered":"THIS EVENING: EIB plans to invest EUR 50 mn in Egyptian VC firms per year"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Good afternoon, wonderful people.<\/span><span style=\"\"> Hump day is bringing us a relatively brisk news cycle here<\/span><span style=\"font-weight:400;\"> on the home front.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Before jumping in, we want to start by thanking the 500 of you who joined us<\/span><span style=\"font-weight:700\"> yesterday for the Enterprise Exports and FDI Forum.<\/span><span style=\"font-weight:400;\"> The day was stacked with insightful conversations with businesses and manufacturers who have successfully set themselves up as major exporters.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We\u2019re exceptionally grateful to all of our friends whose generous support made<\/span><span style=\"font-weight:700;\"> yesterday possible:<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Banking partners:<\/span><span style=\"font-weight:400;\"> Banque Misr | Al Baraka Bank | Emirates NBD | HSBC<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Lead partners:<\/span><span style=\"\"> DB Schenker | DP World | East Port Said Development | IDG | IFC | Madinat<\/span><span style=\"font-weight:400;\"> Masr<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Event partners:<\/span><span style=\"\"> Beyti | Concrete | GlobalCorp | Grant Thornton | Hassan Allam Utilities | Royal<\/span><span style=\"font-weight:400;\"> Ceramica<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORY TODAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">The European Investment Bank plans to invest over EUR 50 mn (USD 54.3<\/span><span style=\"font-weight:700\"> mn) per year in Egyptian VC firms<\/span><span> to support fintech and digital transformation startups, reports <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/3\/12\/500872\/Business\/Economy\/INTERVIEW-EIB-to-invest-%E2%82%AC-million-annually-in-Egyp.aspx\" style=\"\">Ahram Online<\/a><\/span><span style=\"font-weight:400;\">. EIB is also particularly interested in investing in sustainable businesses, including fintech players that play a role in supporting environmental sustainability, Ahram Online quotes EIB Vice President Gelsomina Vigliotti as saying. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORY ABROAD<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The international business press is giving us a mixed afternoon today as no singular<\/span><span style=\"font-weight:700\"> story leads the conversation.<\/span><span style=\"font-weight:400;\"> Among the front-page stories:<\/span><\/p>\n<ul>\n<li><span>Russian oil exports hit post-invasion high (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/525f042c-d35d-4dac-aaed-c5fbf0d6bbd2\" style=\"\">Financial Times<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span>Default fears rattle Main Street investors (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/default-fears-rattle-main-street-investors-8747862b\" style=\"\">Wall Street Journal<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span>Biden, McCarthy to meet as US debt-ceiling talks come down to wire (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/markets\/us\/biden-mccarthy-meet-us-debt-ceiling-talks-come-down-wire-2023-05-16\/\" style=\"\">Reuters<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span>Vodafone shares drop 7% after record 11k jobs cut as CEO says telco \u201cmust change\u201d (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/05\/16\/vodafone-shares-drop-4percent-after-cutting-a-record-11000-jobs.html\" style=\"\">CNBC<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">** CATCH UP QUICK<\/span><span style=\"\"> on the top stories from today\u2019s <\/span><span style=\"font-weight:700\">EnterpriseAM<\/span><span style=\"font-weight:400;\">:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Exports and FDI are the way forward \u2014 other countries have done it right and so can we:<\/span><span> Egypt must combine its natural value proposition with clarity and focus to build exporting economies of scale, said Yasmine Khamis, chair of Oriental Group and Yassir Zouaoui, partner at McKinsey, during the opening panel \u2014 which set the tone for the rest of the forum \u2014 of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/69da074e-7e5a-45b1-b243-caf5c1a338b6\" style=\"\">Enterprise Exports and FDI Forum<\/a><\/span><span style=\"font-weight:400;\"> yesterday.<\/span><\/li>\n<li><span style=\"font-weight:700\">National Investment Bank subsidiary NI Capital is <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e4c4fcd-97f0-4e30-b9c3-d7ca9c0a66d6\" style=\"\">preparing to sell stakes<\/a><\/span><span style=\"font-weight:700\"> in seven state-owned companies<\/span><span style=\"font-weight:400;\"> as part of the government\u2019s privatization program, two of which are expected to be complete by the end of the fiscal year in June.<\/span><\/li>\n<li><span style=\"font-weight:700\">Green SME-led projects to receive funding from IsDB:<\/span><span> Al Baraka Bank Egypt <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/443e7ee0-50c6-444e-8ae4-6c25e98a3a98\" style=\"\">will receive<\/a><\/span><span style=\"font-weight:400;\"> USD 30 mn in sharia-compliant funding from the Islamic Development Bank (IsDB) for on-lending to green projects.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">WANT TO START A CAREER IN INVESTOR RELATIONS ADVISORY?<\/span><span style=\"font-weight:400;\">Enterprise Advisory (formerly known as Inktank Communications) is looking for smart, talented people to help us tell the stories of exciting companies. Enterprise Advisory is the region\u2019s leading investor relations advisory company and works on investor and strategic communications issues that take you deep inside the c-suite. Our clients are in Egypt, Saudi Arabia, the UAE and beyond. Egyptian and foreign nationals alike are welcome to apply.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">NEVER WORKED IN INVESTOR RELATIONS OR ADVISORY BEFORE?<\/span><span style=\"\"> We have the<\/span><span style=\"font-weight:400;\"> Enterprise Advisory Development Program. The four-month program will see full-time, paid participants take part in workshops and lectures from veteran investor relations and advisory professionals, while also applying their knowledge in a practical setting. Those who successfully complete the program will be offered full-time positions on staff for a chance to work in a flexible and supportive \u2014 but still fast-paced \u2014 work environment that eschews micromanagement and rewards good work. Enterprise Advisory offers the chance to build a network of high-ranking individuals across some of the largest and most influential companies in the region through direct exposure to clients.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">During the program, you\u2019ll learn:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Finance for non-finance people;<\/span><\/li>\n<li><span style=\"font-weight:400;\">How to analyze businesses, their business models, their strategic advantages, and their strategies;<\/span><\/li>\n<li><span style=\"font-weight:400;\">How to take that information and then tell an audience of investors, journalists, and analysts a compelling and well-developed story;<\/span><\/li>\n<li><span style=\"font-weight:400;\">How to frame individual companies\u2019 stories within the wider macroeconomic environment.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Career switchers are very welcome.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Apply directly to jobs@enterprisemea.com and mention \u201cadvisory development<\/span><span style=\"font-weight:700\"> program\u201d<\/span><span style=\"font-weight:400;\"> in your subject line.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">\u2600\ufe0f <\/span><span style=\"font-weight:700\">TOMORROW\u2019S WEATHER- <\/span><span style=\"\">It\u2019s warming up in the capital city, which is expected to see a<\/span><span> daytime high of 38<\/span><span style=\"font-weight:400;\">\u00b0C tomorrow and a nighttime low of 18\u00b0C. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, wonderful people. Hump day is bringing us a relatively brisk news cycle here on the home front. Before jumping in, we want to start by thanking the 500 of you who joined us yesterday for the Enterprise Exports and FDI Forum. The day was stacked with insightful conversations with businesses and manufacturers who [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":586757,"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":[7213],"tags":[633,760,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-586756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-enterprisepm","tag-european-investment-bank","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"7c0884d7-6426-4a76-a753-dcc1ae26cd3d","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2023\/1\/113.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[586754],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.2d9e18f8-4369-4ef5-bfee-2f9e6e4d8b8a.mp3"},"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>THIS EVENING: EIB plans to invest EUR 50 mn in Egyptian VC firms per year - 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\/05\/16\/this-evening-eib-plans-to-invest-eur-50-mn-in-egyptian-vc-firms-per-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: EIB plans to invest EUR 50 mn in Egyptian VC firms per year\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, wonderful people. 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Hump day is bringing us a relatively brisk news cycle here on the home front. Before jumping in, we want to start by thanking the 500 of you who joined us yesterday for the Enterprise Exports and FDI Forum. 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