{"id":619947,"date":"2024-05-13T00:00:00","date_gmt":"2024-05-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/13\/second-tranche-from-ras-el-hekma-arrives\/"},"modified":"2024-05-13T00:00:00","modified_gmt":"2024-05-13T00:00:00","slug":"second-tranche-from-ras-el-hekma-arrives","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/13\/second-tranche-from-ras-el-hekma-arrives\/","title":{"rendered":"Second tranche from Ras El Hekma arrives"},"content":{"rendered":"

Good afternoon, folks, and happy Monday. <\/strong>Our news cycle is starting to gain some traction as we finish the second day of this business week. <\/p>\n

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

We just got the second tranche from the Ras El Hekma agreement:<\/strong> The Abu Dhabi wealth fund ADQ has delivered the second tranche of Ras El Hekma agreement on Sunday, a senior government source confirmed to Enterprise. The tranche consists of USD 14 bn fresh inflows and USD 6 bn in the form of a previous UAE deposit at the Central Bank of Egypt.<\/p>\n

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Foreign investors are falling in love with Egypt again\u2026<\/strong> Foreign investors we speak with (debt, equity, and strategic alike) have a growing appetite for Egypt. They\u2019re buying into local debt, eyeing promising shares, and committing bns of USD to both new ventures here and the growth of their existing businesses. They like the Egypt story that\u2019s taking shape after the float of the EGP, and our competitive advantages are clear to many of them: We\u2019re a massive consumer opportunity and the regional export hub of tomorrow.<\/strong><\/p>\n

\u2026but here at home, our community is in a rut.<\/strong> The enthusiasm gap between domestic business leaders and global investors is stark. <\/p>\n

We\u2019d all do well to remember: It\u2019s a chicken-and-egg kind of thing. <\/strong>Foreign strategic investors will be reluctant to commit capital here until they see Egyptian businesses leading the way.<\/p>\n

The Enterprise Optimism Forum 2024 will do exactly what it says on the tin: <\/strong>Spark conversations about a future that we think is much brighter than so many in our community feel right now. Think of it as much-needed shock therapy combined with an early, actionable roadmap for those of us who are \u201clong Egypt.\u201d<\/p>\n

We\u2019ll be talking with you about the agenda over the coming couple of weeks.<\/strong>It features speakers from Egypt and abroad who are future-proofing their businesses and angling to capture tomorrow\u2019s opportunities \u2014 and who aren\u2019t afraid to answer some tough questions. <\/p>\n

*** Interested in attending? <\/strong>Tap or click here<\/a><\/strong> to let us know.<\/strong> Seating is limited. <\/p>\n

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

The Israeli assault on Gaza is still dominating the foreign press this afternoon.<\/strong>Israeli forces have re-entered the once abandoned ruins of Northern Gaza where it \u201cclaimed to have defeated Hamas\u201d in the past months, meanwhile military tanks and personnel are making their way into Rafah leaving the Palestinians to move again to find shelter. Antony Blinken, US Secretary of State, added that Israel is instigating a \u201cHamas insurgency\u201d in Gaza, adding that there will be armed militias in the region, regardless of Israel\u2019s attack on Rafah. (Bloomberg<\/a> | Reuters<\/a>)<\/p>\n

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