{"id":591606,"date":"2019-12-11T04:23:48","date_gmt":"2019-12-11T04:23:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/11\/what-were-tracking-on-11-december-2019\/"},"modified":"2019-12-11T04:23:48","modified_gmt":"2019-12-11T04:23:48","slug":"what-were-tracking-on-11-december-2019","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/11\/what-were-tracking-on-11-december-2019\/","title":{"rendered":"What we\u2019re tracking on 11 December 2019"},"content":{"rendered":"

<\/a> Today will largely be shaped by how two IPOs will fare in their market debuts.<\/strong> Here at home, Rameda Pharma<\/strong> shares will begin trading under the ticker RMDA today, marking the second and last IPO for Egypt in 2019.<\/p>\n

Meanwhile, the international press will be closely watching the long-awaited start of trading on Saudi Aramco.<\/strong> Crown Prince Mohammed bin Salman isn\u2019t giving up on that USD 2 tn valuation, with the kingdom apparently still pushing Saudi\u2019s wealthiest families and institutions to pile into Aramco\u2019s shares once they hit the Tadawul, according to the Financial Times<\/a>.<\/p>\n

The <\/strong>Aswan Forum for Sustainable Peace and Development<\/a><\/strong> kicks off today.<\/strong> Government ministers, senior foreign officials and representatives from international institutions are gathering in Aswan for the two-day gathering, which will discuss ways to reduce conflict in Africa and help countries meet their sustainable development goals.<\/p>\n

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On legendary central banker Paul Volcker\u2019s Cairo connection: <\/strong>Paul Volcker, the former US Fed boss who passed away earlier this week at age 92 (and who enshrined the role of central bank chairs as leaders who solve economic problems regardless of political considerations) had a Cairo connection that will surprise many readers: He was senior advisor to CIB\u2019s board of directors for a three-year period ending in 2008.<\/p>\n

CIB Chairman Hisham Ezz El Arab eulogized Volcker in an email to staff yesterday<\/strong>, a copy of which Enterprise obtained. Ezz El Arab, who said he counts Volcker as a friend and mentor, last saw the former Fed chairman turned global troubleshooter in March of this year. He noted in particular Volcker\u2019s wise counsel to the CIB board and leadership in helping create the bank\u2019s employee stock ownership program. You can read the full text of Ezz El Arab\u2019s email here (pdf).<\/a><\/p>\n

enterprise<\/a><\/p>\n

Jumia on the rocks:<\/strong> African e-commerce giant Jumia has announced it will close shop in Rwanda, only weeks after exiting Cameroon and Tanzania, the Financial Times reports<\/a>. The company\u2019s share price has plunged 90% from its peak in July as it struggles to cope with the realities of running an e-commerce business on a continent with limited infrastructure, a lack of trust of internet services, and weak logistics.<\/p>\n

In global miscellany:<\/strong><\/p>\n