{"id":595001,"date":"2023-08-08T00:00:00","date_gmt":"2023-08-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/08\/this-evening-we-have-more-details-on-egytrans-nosco-acquisition\/"},"modified":"2023-08-08T00:00:00","modified_gmt":"2023-08-08T00:00:00","slug":"this-evening-we-have-more-details-on-egytrans-nosco-acquisition","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/08\/this-evening-we-have-more-details-on-egytrans-nosco-acquisition\/","title":{"rendered":"THIS EVENING: We have more details on Egytrans\u2019 NOSCO acquisition"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Happy hump day, friends. <\/strong> It\u2019s shaping up to be a relatively brisk news day here at home as we start the slide towards the weekend.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> THE BIG STORIES TODAY <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> #1- Egytrans announces details on NOSCO acquisition: <\/strong> Egytrans\u2019 acquisition of 99.9% of National Transport and Overseas Services Company (NOSCO) via a share swap will see Egytrans shareholders holding a 70.17% stake in the combined company \u2014 Egytrans NOSCO \u2014 with the remaining 29.83% going to NOSCO shareholders, <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/8\/386.pdf\" style=\"\" rel=\"noopener\">Egytrans said today (pdf)<\/a>. Egytrans Chairman Gamal Moharam will lead Egytrans NOSCO as chairman, while Abir Leheta and Mohamed Nadim will be co-CEOs of the new company. The transaction is expected to close in 4Q 2023, Egytrans said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #2- Fawry Microfinance to offer SME financing: <\/strong>Fawry Microfinance, a subsidiary of the EGX-listed e-payments platform Fawry, has received preliminary approval from the Financial Regulatory Authority (FRA) to offer SME financing, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/8\/367.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a> today. Fawry Microfinance plans to launch its SME financing service later this year, which will allow it to reach new and underserved markets across the country. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> THE BIG STORY ABROAD <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> China\u2019s trade slump in July is leading the conversation in the international business <\/strong><strong> press this afternoon. <\/strong>Exports tumbled 14.5% y-o-y, while imports dropped 12.4% y-o-y, according to data from Beijing\u2019s General Administration of Customs. The drops are attributed to obstacles in international trade, the stagnating Chinese property sector, and declining domestic demand since covid-19 restrictions were lifted. <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-08-08\/china-s-trade-plunges-more-than-forecast-in-blow-to-recovery?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6318c973-1ff7-44b6-9f4b-177e0706f1e2\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/chinese-exports-fall-at-steepest-pace-since-february-2020-e930246b?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/chinas-july-exports-imports-fall-much-faster-than-expected-2023-08-08\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/08\/08\/china-reports-double-digit-plunge-in-july-exports-and-imports-missing-expectations.html\" style=\"\" rel=\"noopener\">CNBC<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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\"><strong> ** CATCH UP QUICK <\/strong> on the top stories from today\u2019s <strong> EnterpriseAM <\/strong>:<\/p>\n<ul>\n<li><strong> Heliopark could have a new partner soon: <\/strong> Heliopolis Housing and Development (HHD) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cee0659c-5a9a-447b-9af0-bb2e351a6b16\" style=\"\" rel=\"noopener\">could this month wrap negotiations<\/a> to partner with an anonymous Gulf investor for its Heliopark project.<\/li>\n<li><strong> Beltone one step closer to acquiring Cash: <\/strong>Beltone Financial <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce06ae60-a419-4d5e-8b15-eb2795413075\" style=\"\" rel=\"noopener\">has received the greenlight<\/a> from the Financial Regulatory Authority (FRA) to proceed with its acquisition of Minya-based microfinance provider Cash.<\/li>\n<li><strong> OFH could go the digital banking route: <\/strong>Orascom Financial Holding (OFH) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/82c576c9-379e-4ba2-9794-cecc12797fcf\" style=\"\" rel=\"noopener\">will look into<\/a> the possibility of setting up a digital bank.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/44.jpg?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The Enterprise Finance Forum is taking place on 18-19 <\/strong><strong> September at the St. Regis Hotel in Cairo. <\/strong> This flagship forum is the latest in our must-attend series of invitation-only, C-suite-level gatherings that allow senior members of our community to openly and frankly discuss critical issues in key sectors of the economy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/finance.enterprise.news\/\" style=\"\" rel=\"noopener\">TAP OR CLICK HERE<\/a><\/strong> if you want to express interest in attending. We\u2019ll be sending out the first batch of invitations soon. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Do you want to become a commercial partner? <\/strong> Ping a note to <a target=\"_blank\" href=\"mailto:mtaalab@inktankir.com\" style=\"\" rel=\"noopener\">Moustafa Taalab, our head of commercial<\/a>, or fill out <a target=\"_blank\" href=\"https:\/\/finance.enterprise.news\/sponsor.html\" style=\"\" rel=\"noopener\">this form<\/a> and we\u2019ll be in touch.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.press\/am-edition\/#calendar\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> LISTEN TO OUR PODCAST- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> MISSED THE ENTERPRISE EXPORTS AND FDI FORUM? <\/strong><strong><a target=\"_blank\" href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/the-enterprise-podcast\/id1617987136\" style=\"\" rel=\"noopener\">The Enterprise<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/the-enterprise-podcast\/id1617987136\" style=\"\" rel=\"noopener\">Podcast has you covered<\/a><\/strong><strong> : <\/strong> The Enterprise Podcast\u2019s forum series has been bringing you audio recordings of what was said on stage at the Enterprise Exports and FDI Forum,which took place in May. Throughout, we learned lessons from some of Egypt\u2019s biggest exporters on how Egypt can export its way out of a crisis. We heard everything from how to build an exports and FDI strategy, to identifying a foreign partner and tapping into a global supply chain. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> WANT TO LISTEN? Head to: <\/strong><a target=\"_blank\" href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/industrial-clusters-a-natural-accelerant-for-both\/id1617987136?i=1000622773394\" style=\"\" rel=\"noopener\">Apple Podcast<\/a> | <a target=\"_blank\" href=\"https:\/\/open.spotify.com\/episode\/3w1uEZq5qh4h5GYUkctVrU\" style=\"\" rel=\"noopener\">Spotify<\/a> | <a target=\"_blank\" href=\"https:\/\/podcasts.google.com\/feed\/aHR0cHM6Ly93d3cub21ueWNvbnRlbnQuY29tL2QvcGxheWxpc3QvNWE1NmQ3YzMtZjI4MS00NTU3LThlMzEtYWFjODAxN2NjZjA2LzY4NmNmYTU5LTAwOTMtNDEyMS1hMTRjLWFlNmYwMDk3ZjEyMi81NDI0MGE5Ni04YWY5LTRkZGQtODExNi1hZTZmMDA5OTgxMzYvcG9kY2FzdC5yc3M\/episode\/YmQxZmU5OWUtMGFjMC00YzYwLTkxZjItYjA0ZTAwZDQzODk1?sa=X&ved=0CAUQkfYCahcKEwiQ0ZWy6bSAAxUAAAAAHQAAAAAQAQ\" style=\"\" rel=\"noopener\">Google Podcast<\/a> | <a target=\"_blank\" href=\"https:\/\/play.anghami.com\/episode\/1116856621?adj_t=dgl0aa8_64v1dnl&adj_campaign=ios&adj_adgroup=episode&adj_creative=126401725\" style=\"\" rel=\"noopener\">Anghami<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> IT\u2019S THE FINAL EPISODE- <\/strong>Our final panel of the day was, naturally, the most forward looking. Our panelists discussed how the companies \u2014 be they in age-old industries or emerging ones \u2014 have adapted to changes to better position their businesses for an uncertain future. We were joined by <strong> Nadia El Tawil, <\/strong> investment officer at pan-African private equity firm AfricInvest, <strong> Mostafa Bedair <\/strong>, CEO of Giza Seeds and Herbs, and <strong> Abdallah Sallam, <\/strong>CEO of Madinet Masr. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> OUR FORUM SERIES CONTINUES NEXT SUNDAY WITH THE ENTERPRISE CLIMATE <\/strong><strong> FORUM- <\/strong>Fresh off the heels of a successful COP27, we held our first forum to dive deep into the fundamentals of what we think is the world\u2019s most important industry. The conversations ranged from exploring the business opportunities for Egyptian entrepreneurs, companies and startups in climate, to demystifying green hydrogen, and how we finance our green transition. And we did it all in the Grand Egyptian Museum. <\/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 target=\"_blank\" href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">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\"><strong> \u2600\ufe0f <\/strong><strong> TOMORROW\u2019S WEATHER- <\/strong>The mercury will rise to peak at a daytime high of 39\u00b0C and will drop to a nighttime low of 25\u00b0C, according to our favorite weather app. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Happy hump day, friends. It\u2019s shaping up to be a relatively brisk news day here at home as we start the slide towards the weekend. THE BIG STORIES TODAY #1- Egytrans announces details on NOSCO acquisition: Egytrans\u2019 acquisition of 99.9% of National Transport and Overseas Services Company (NOSCO) via a share swap will see Egytrans [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":595002,"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":[1142,633,7004,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-595001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-egytrans","tag-enterprisepm","tag-nosco","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"394fe25f-2ae5-4501-995c-a2b18d51e456","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2022\/3\/1846.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[594999],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.c839691b-4f7e-491b-8a3d-4515ec91f8d3.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: We have more details on Egytrans\u2019 NOSCO acquisition - 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\/08\/08\/this-evening-we-have-more-details-on-egytrans-nosco-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: We have more details on Egytrans\u2019 NOSCO acquisition\" \/>\n<meta property=\"og:description\" content=\"Happy hump day, friends. It\u2019s shaping up to be a relatively brisk news day here at home as we start the slide towards the weekend. 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THE BIG STORIES TODAY #1- Egytrans announces details on NOSCO acquisition: Egytrans\u2019 acquisition of 99.9% of National Transport and Overseas Services Company (NOSCO) via a share swap will see Egytrans [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/08\/this-evening-we-have-more-details-on-egytrans-nosco-acquisition\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2023-08-08T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/1846.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"4 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