{"id":635228,"date":"2024-07-28T00:00:00","date_gmt":"2024-07-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/28\/cabinet-approves-decision-to-cut-down-on-electricity-theft-plus-news-from-cib-tanmeyah\/"},"modified":"2024-07-28T00:00:00","modified_gmt":"2024-07-28T00:00:00","slug":"cabinet-approves-decision-to-cut-down-on-electricity-theft-plus-news-from-cib-tanmeyah","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/28\/cabinet-approves-decision-to-cut-down-on-electricity-theft-plus-news-from-cib-tanmeyah\/","title":{"rendered":"Cabinet approves decision to cut down on electricity theft. PLUS: News from CIB, Tanmeyah"},"content":{"rendered":"

CABINET WATCH-<\/p>\n

To cut down on electricity theft:<\/strong> Electricity distribution companies will now be able to install coded meters in buildings illegally drawing electricity until the building either legalizes its status or demolished, according to a cabinet statement<\/a>. The move comes as the government works to reduce energy consumption by 18% by 2035<\/a> through a raft of measures that include developing the grid, promoting the use of energy-saving appliances, and putting an end to electricity theft.<\/p>\n

AND- Tampere University is coming to Egypt: <\/strong>The cabinet has authorized Alexandria University to contract with the Egyptian-Finnish Company for Educational Facilities and Services to utilize a 20-feddan plot of land and existing building in Alexandria\u2019s Borg El Arab to establish a local branch of Finland\u2019s Tampere University.<\/span><\/p>\n

DEBT-<\/p>\n

#1-<\/strong> CIB introduces SME sustainability lending:<\/strong> CIB \u2014 in collaboration with the German development agency GIZ and the Frankfurt School of Finance and Management \u2014 has rolled out a new SME financing product tailored to boost sustainable development, according to a press release (pdf)<\/a>. The new lending product focuses on the textile, plastics, and F&B sectors, offering SMEs operating in these sectors incentives from international development finance institutions, short- and medium-term loans with repayment terms of up to five years, and specialized consultations with CIB experts on local and global market conditions.<\/p>\n

\n

#2- Tanmeyah secures credit facility:<\/strong> EFG Holding\u2019s microfinance subsidiary Tanmeyah inked a EGP 500 mn credit facility agreement with state-owned lender Banque Misr, according to a press release (pdf)<\/a>. The facility will be extended to individuals and small business owners via short- and medium-term loans at low rates and on favorable terms.<\/p>\n","protected":false},"excerpt":{"rendered":"

The government is working to reduce energy consumption by 18% by 2035<\/p>\n","protected":false},"author":1,"featured_media":635229,"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":[111,576,282,240,88,73,72,202],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-635228","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-banque-misr","tag-cabinet-watch","tag-cib","tag-debt-watch","tag-education","tag-enterpriseam","tag-tanmeyah","wpautop","entry"],"acf":{"mongo_id":"f09eddd1-fdf2-412d-aad7-d4925b31639e","order":"13","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/2163.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s cabinet approves decision to cut down on electricity theft","related_issue":[635206],"teaser":"The government is working to reduce energy consumption by 18% by 2035","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.5511b642-b2ea-449f-889a-48fafc8b12ad.mp3"},"yoast_head":"\nCabinet approves decision to cut down on electricity theft. 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PLUS: Egypt-Italy power link, veterinary vaccine factory","author":"enterpriseam admin","date":"27 August 2024","format":false,"excerpt":"Electricity being consumed by buildings illegally will come at the hefty cost of EGP 2.15 per kWH","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2281.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548556,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/14\/electricity-rationing-went-into-effect-yesterday-across-egypt-heres-what-we-know-so-far\/","url_meta":{"origin":635228,"position":2},"title":"Electricity rationing went into effect yesterday across Egypt. Here\u2019s what we know so far.","author":"enterpriseam admin","date":"14 August 2022","format":false,"excerpt":"Here\u2019s how the gov\u2019t hopes to ration the nation\u2019s electricity: Cabinet has approved measures announced byPrime Minister Moustafa Madbouly last week to limit the country\u2019s use of electricity, raise natural gas exports, and increase inflows of foreign currency, according to a statement out Thursday.Under the rules: All state-affiliated buildings must\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/231.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548531,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/11\/electricity-rationing-inflation-dominate-the-airwaves\/","url_meta":{"origin":635228,"position":3},"title":"Electricity rationing + inflation dominate the airwaves","author":"enterpriseam admin","date":"11 August 2022","format":false,"excerpt":"The government\u2019s plan to cut back on public electricity consumption was still dominating the airwaves last night: Prime Minister Moustafa Madbouly\u2019s meeting with the cabinet yesterday saw them discuss the measures he plans to implement to cut electricity consumption in a bid to redirect more natural gas towards exports got\u2026","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":590996,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/30\/pm-announces-fresh-measures-to-curb-electricity-demand-amid-rolling-blackouts\/","url_meta":{"origin":635228,"position":4},"title":"PM announces fresh measures to curb electricity demand amid rolling blackouts","author":"enterpriseam admin","date":"30 July 2023","format":false,"excerpt":"Blackouts will continue until end of August at least, Madbouly says","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1163.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548479,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/10\/in-a-hunt-for-foreign-currency-were-going-to-ration-electricity\/","url_meta":{"origin":635228,"position":5},"title":"In a hunt for foreign currency, we\u2019re going to ration electricity","author":"enterpriseam admin","date":"10 August 2022","format":false,"excerpt":"Egypt will begin cutting back on electricity consumption nationwide from next week in a bid to redirect more natural gas towards exports, thus netting additional inflows of foreign currency, Prime Minister Moustafa Madbouly said yesterday at a press conference (watch, runtime: 18:39). The government hopes to export around 15% of\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/198.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/635228","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=635228"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/635228\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/635206"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/635229"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=635228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=635228"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=635228"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=635228"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=635228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}