{"id":626187,"date":"2024-06-26T00:00:00","date_gmt":"2024-06-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/26\/ci-capital-one-step-closer-to-egx33-fund-plus-zaldi-capital-obour-land-qalaa-holdings-gypto-pharma-fujifilm-egyptair-knauf\/"},"modified":"2024-06-26T00:00:00","modified_gmt":"2024-06-26T00:00:00","slug":"ci-capital-one-step-closer-to-egx33-fund-plus-zaldi-capital-obour-land-qalaa-holdings-gypto-pharma-fujifilm-egyptair-knauf","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/26\/ci-capital-one-step-closer-to-egx33-fund-plus-zaldi-capital-obour-land-qalaa-holdings-gypto-pharma-fujifilm-egyptair-knauf\/","title":{"rendered":"CI Capital one step closer to EGX33 fund. PLUS: Zaldi Capital, Obour Land, Qalaa Holdings, Gypto Pharma, Fujifilm, EgyptAir, Knauf"},"content":{"rendered":"<p class=\"tag-border-left\">FINANCIAL MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>CI Capital <\/strong><strong>gets the preliminary greenlight to launch an EGX33 fund:<\/strong> The Financial Regulatory Authority has given CI Capital\u2019s asset management arm CI Capital Asset Management preliminary approval to set up a fund investing in the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/74effee2-a8f2-48ca-b477-5a6fd4c8ca67\" style=\"\" rel=\"noopener\">newly-launched<\/a> sharia-compliant EGX33, according to a note seen by Enterprise. The state-owned investment bank plans to open the doors for investors looking to subscribe to the fund by 3Q 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The race is on to become the first fund tracking the EGX33: <\/strong>CI Capital Asset Management <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/413c277a-0eb2-403b-8735-77462cc9d43c\" style=\"\" rel=\"noopener\">announced<\/a> on the day of the index\u2019s launch that it wants to be \u201cthe country\u2019s first\u201d fund investing in shariah-compliant stocks. But it has competition, with Beltone also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b8ffc30b-cdd5-43b1-a82d-949080d489a1\/beltone-to-introduce-four-new-funds-with-an-upgraded-investment-platform-in-the-next-quarter,-beltone%25e2%2580%2599s-khalil-al-bawab-tells-enterprise\" style=\"\" rel=\"noopener\">in the running<\/a> and also aiming to launch the fund in the third quarter of the year. Azimut has also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0889fd4b-0756-425f-8e4a-4e58377a17d6\/egypt-was-among-saudi-arabia%25e2%2580%2599s-top-investors-last-quarter\" style=\"\" rel=\"noopener\">signaled<\/a> that it is keen to get an EGX33 fund up and running as soon as possible.<\/p>\n<p class=\"tag-border-left\">DEBT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Qalaa Holdings to pay USD 500 mn of its subsidiary Egyptian Refining Company\u2019s debts by the end of the<\/strong><strong> year:<\/strong> Qalaa Holding is set to pay some USD 500 mn of the creditor banks\u2019 dues from its subsidiary the <a target=\"_blank\" href=\"https:\/\/www.ercegypt.com\/\" style=\"\" rel=\"noopener\">Egyptian Refining Company<\/a>, Managing Director Hisham El Khazindar told <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1805276973964345412\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The subsidiary is planning to up its production capacity by 10% by 2028, El Khazindar added.<\/p>\n<p class=\"tag-border-left\">PRIVATE EQUITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Zaldi sets sights on new industrial investment fund: <\/strong>Local asset management firm <a target=\"_blank\" href=\"https:\/\/zaldi-capital.com\/\" style=\"\" rel=\"noopener\">Zaldi Capital<\/a> wants to partner with \u201ca major financial institution\u201d to launch a direct investment fund with an initial size of up to EGP 250 mn in 3Q 2024, Chairman Hatem El Banna told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/06\/25\/1803172\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The fund will purchase minority stakes in EGX listed and non-listed industrial companies, El Banna said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s been <\/strong><strong>a<\/strong><strong> busy week for Zaldia: <\/strong>The firm also <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/odin-investments_maksab-oz-english-factsheet-activity-7210949397990285313-MWTo\/?utm_source=share&amp;utm_medium=member_desktop\" style=\"\" rel=\"noopener\">launched<\/a> its Maksab - OZ fund together with fellow asset manager Alpha Asset Management with a target of USD 1 mn to be invested in fixed income instruments in different currencies. The fund\u2019s subscription window opened this week and will run until 22 July.<\/p>\n<p class=\"tag-border-left\">FOOD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Obour Land has a new EGP 350 mn cheese factory in the works: <\/strong>Dairy producer Obour Land plans to funnel EGP 350 mn into establishing a new processing factory in 2024 as it looks to increase production and double annual export revenues to USD 40 mn, the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1599.pdf\" style=\"\" rel=\"noopener\">E<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1599.pdf\" style=\"\" rel=\"noopener\">G<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1599.pdf\" style=\"\" rel=\"noopener\">X disclosure (pdf)<\/a>. As part of these plans, Obour Land will also invest EGP 800 mn into raising the volume of its livestock to 2k dairy cattle with the aim of producing 100 tonnes of milk per day and is studying new export markets.<\/p>\n<p class=\"tag-border-left\">INVESTMENT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GAFI talks green infrastructure investments with UK business delegation:<\/strong> The British Egyptian Business Forum brought together public and private sector representatives from both countries to discuss \u201cenvironmentally friendly infrastructure projects, such as water management and treatment, new and renewable energy, environmentally friendly engineering industries, construction and building, and communications and information technology,\u201d General Authority for Freezones head Hossam Heiba said, according to an authority <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid032J5UGQh48R2BExsccVKXbcFsEXrtz4QMHv6E3nRNsHS3FsrBqMsuUk1bUuX1PTgVl\" style=\"\" rel=\"noopener\">statement<\/a>. Investments from the UK to Egypt exceeded USD 2 bn in FY 2022-23, Heiba added.<\/p>\n<p class=\"tag-border-left\">HEALTHCARE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Gypto Pharma to export meds to KSA, UAE:<\/strong> State-owned medical city complex Gypto Pharma inked partnership agreements with a Saudi and an Emirati companies to export its pharma products to the two Gulf countries during the coming period, company CEO Amr Mamdouh told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/06\/25\/%D9%85%D8%B3%D8%A4%D9%88%D9%84-%D9%84%D9%80-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D8%AC%D9%8A%D8%A8%D8%AA%D9%88-%D9%81%D8%A7%D8%B1%D9%85%D8%A7-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D8%B3%D8%AA%D8%B9%D8%AF-%D9%84%D8%AA%D8%B5%D8%AF%D9%8A%D8%B1-%D9%85%D9%86%D8%AA%D8%AC%D8%A7%D8%AA%D9%87%D8%A7-%D9%84%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%88%D8%A7%D9%84%D8%A7%D9%85%D8%A7%D8%B1%D8%A7%D8%AA\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. The move comes as part of Gypto Pharma\u2019s export expansion plans into Gulf and African markets, Mamdouh added.<\/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\"><strong>#2- Fujifilm wants to up its medical investments in Egypt:<\/strong> Fujifilm Middle East intends to expand its investments in medical diagnosis and radiology in Egypt, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/06\/25\/1803457\" style=\"\" rel=\"noopener\">Al Borsa<\/a> writes, citing the company\u2019s managing director, Michio Kondo. The company will carry out its investment plans in Egypt via its Egypt head office in Cairo, which will open by the end of June, Kondo added.<\/p>\n<p class=\"tag-border-left\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EgyptAir jumps up 32 places on Skytrax rankings:<\/strong> The country\u2019s flag bearer EgyptAir joined the world\u2019s top 100 airlines on the Skytrax global ranking, snapping the 88th rank in the <a target=\"_blank\" href=\"https:\/\/www.worldairlineawards.com\/worlds-top-100-airlines-2024\/\" style=\"\" rel=\"noopener\">World Airlines Awards for 2024<\/a>, up from 110th last year. The state-run airlines also ranked second among Skytrax <a target=\"_blank\" href=\"https:\/\/www.worldairlineawards.com\/worlds-most-improved-airlines-2024\/\" style=\"\" rel=\"noopener\">World\u2019s Most Improved Airlines 2024<\/a> right after Saudi Arabian Airlines.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Movement in the right direction:<\/strong> Improving the ranking of national flag carrier was among President Abdel Fattah El Sisi\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e94bb97-4820-4349-bc3a-d65afa8cdcb1\/\" style=\"\" rel=\"noopener\">third term targets<\/a> for the aviation sector through 2030.<\/p>\n<p class=\"tag-border-left\">INVESTMENT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Knauf to more than double its Egypt investments by 2026:<\/strong> Building material manufacturer <a target=\"_blank\" href=\"https:\/\/knaufegypt.com\/en-us\" style=\"\" rel=\"noopener\">Knauf<\/a> plans to increase its investments in Egypt to EUR 120 mn by 2026, from EUR 50 mn currently, CEO Mohamed Abdel Rasoul told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/06\/25\/1803508\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The funds will go to expanding the company\u2019s existing operations and adding new production lines to Knauf\u2019s gypsum boards factory in Suez.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CI Capital wants to be \u201cthe country\u2019s first\u201d fund investing in shariah-compliant stocks<\/p>\n","protected":false},"author":1,"featured_media":626188,"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":[7209],"tags":[548,111,8515,136,68,6742,2391,72,564,461,8630,7115,2337,131,723,427,758,3749],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-626187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-abu-qir-fertilizers","tag-also-on-our-radar","tag-capital-markers","tag-ci-capital","tag-egx","tag-egypt-uk-relations","tag-egyptian-refining-company","tag-enterpriseam","tag-food","tag-gafi","tag-gypto","tag-healthcare","tag-islamic-finance","tag-manufacturing","tag-obour-land","tag-pharma","tag-private-equity","tag-zaldi-capital","wpautop","entry"],"acf":{"mongo_id":"456f8570-047a-47a7-87cf-e49890386672","order":"10","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/2546.jpg","photo_position":"above","homepage_title":"","full_issue_title":"CI Capital one step closer to EGX33 fund. PLUS: Zaldi Capital, Obour Land, Qalaa Holdings, Gypto Pharma, Fujifilm, EgyptAir, Knauf","related_issue":[626170],"teaser":"CI Capital wants to be \u201cthe country\u2019s first\u201d fund investing in shariah-compliant stocks","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.4912520a-d394-4c46-98df-75cacb4980a4.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>CI Capital one step closer to EGX33 fund. PLUS: Zaldi Capital, Obour Land, Qalaa Holdings, Gypto Pharma, Fujifilm, EgyptAir, Knauf - 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\/2024\/06\/26\/ci-capital-one-step-closer-to-egx33-fund-plus-zaldi-capital-obour-land-qalaa-holdings-gypto-pharma-fujifilm-egyptair-knauf\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CI Capital one step closer to EGX33 fund. 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He says CI Capital is looking to launch the fund in 2H2017.","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":636417,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/31\/emaar-misr-b-investments-credit-agricole-and-more-join-egx30-after-index-review\/","url_meta":{"origin":626187,"position":3},"title":"Emaar Misr, B Investments, Credit Agricole, and more join EGX30 after index review","author":"enterpriseam admin","date":"31 July 2024","format":false,"excerpt":"The shariah-compliant index also saw new entries","rel":"","context":"In &quot;Capital markets&quot;","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1417.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":623863,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/12\/egx-launches-its-maiden-shariah-compliant-index-report\/","url_meta":{"origin":626187,"position":4},"title":"EGX launches its maiden shariah-compliant index -report","author":"enterpriseam admin","date":"12 June 2024","format":false,"excerpt":"The index will include 30-50 listed companies","rel":"","context":"In &quot;Capital markets&quot;","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1115.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":666686,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/12\/egx33-outperforms-the-egx30-in-its-first-year-since-launch\/","url_meta":{"origin":626187,"position":5},"title":"EGX33 outperforms the EGX30 in its first year since launch","author":"enterpriseam admin","date":"12 June 2025","format":false,"excerpt":"Good morning, folks. 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