{"id":605691,"date":"2023-09-04T00:00:00","date_gmt":"2023-09-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/this-evening-beltone-inks-share-purchase-agreement-to-acquire-100-of-cash\/"},"modified":"2023-09-04T00:00:00","modified_gmt":"2023-09-04T00:00:00","slug":"this-evening-beltone-inks-share-purchase-agreement-to-acquire-100-of-cash","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/this-evening-beltone-inks-share-purchase-agreement-to-acquire-100-of-cash\/","title":{"rendered":"THIS EVENING: Beltone inks share purchase agreement to acquire 100% of Cash"},"content":{"rendered":"

Good afternoon, friends. <\/strong> We hope that your week has gotten off to a smooth start as we shift gears back into work-mode. <\/p>\n

CLARIFICATION- New patisserie F\u00f4u is open for business from tomorrow \u2014 order from <\/strong> the comfort of your couch. <\/strong> The grand opening of Farah El Charkawy\u2019s new online-only patisserie F\u00f4u, which we wrote about in this morning\u2019s AM, is an invitation-only event. Excusez-nous forthe faux pas. But pastry fiends can still get their fix by ordering through F\u00f4u\u2019s website<\/a>, which goes live tomorrow night. Arbitration lawyer El Charkawy \u2014 late of Zulficar and Partners \u2014 attended top European culinary schools (including Alain Ducasse in France) to perfect her craft and we can\u2019t wait to taste what she\u2019s creating.<\/p>\n

THE BIG STORY TODAY <\/strong><\/p>\n

Beltone Financial has inked a share purchase agreement (SPA) to <\/strong> acquire 100% of Minya-based microfinance provider Cash <\/strong> after completing due diligence on the company, chief communications officer Mamdouh Abdelwahab confirmed to Enterprise. Beltone has acquired the microfinance provider \u201cdirectly and indirectly\u201d through the company and its subsidiaries, Abdelwahab said, without naming the subsidiaries.<\/p>\n

THE BIG STORY ABROAD <\/strong><\/p>\n

It\u2019s another afternoon of the international business press being all over the place: <\/strong>Bloomberg<\/a> \u2019s top story focuses on the creation of a gaming authority in the UAE, suggesting that gambling may become legalized \u2014 we dive in further in For Your Commute, below. Elsewhere, how China\u2019s economic slump will affect commodity producers worldwide is getting top billing in the Wall Street Journal<\/a>, and Reuters<\/a> is leading with Turkey and Russia\u2019s presidents meeting in Sochi to discuss natural gas and grain. <\/p>\n

HAPPENING NOW- <\/strong><\/p>\n

Day one of the Africa Climate Summit is in session: <\/strong>Climate leaders from across the continent are gathered in the Kenyan capital today for the three-day Africa Climate Summit<\/a>. An Egyptian delegation headed by Prime Minister Moustafa Madbouly<\/a> including Environment Minister Yasmine Fouad and Irrigation Minister Hani Sewilam<\/a> are in attendance. <\/p>\n

On the agenda: <\/strong>Fouad will join a number of officials in signing the Kampala Ministerial<\/a> Declaration on Migration, Environment, and Climate Change<\/a>(KDMECC); she will also chair a session on raising adaptation finance. Fouad is scheduled to meet with some of her counterparts and international lenders on the sidelines of the summit, according to an Environment Ministry statement<\/a>. <\/p>\n

Phase nine of the Beit El Watan initiative kicks off: <\/strong>The Housing Ministry is opening the door for Egyptians living abroad to reserve some 2.53k plots of land up for grabs under the ninth phase of the Beit El Watan initiative, Housing Minister Assem El Gazzar said in a statement<\/a> earlier today. The plots offered are distributed among 14 new cities including New Cairo, Sheikh Zayed, Tenth of Ramadan, and New Aswan. The reservation door closes in three weeks. <\/p>\n

** CATCH UP QUICK <\/strong> on the top stories from today\u2019s EnterpriseAM<\/strong>:<\/p>\n