{"id":662735,"date":"2025-03-21T00:00:00","date_gmt":"2025-03-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/21\/valu-to-debut-on-egx-in-june\/"},"modified":"2025-03-21T00:00:00","modified_gmt":"2025-03-21T00:00:00","slug":"valu-to-debut-on-egx-in-june","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/21\/valu-to-debut-on-egx-in-june\/","title":{"rendered":"Valu to debut on EGX in June"},"content":{"rendered":"

Good morning, friends, and happy Friday.<\/strong> Before we jump into the issue, make sure to wish all the wonderful moms in your life a very happy mother\u2019s day.<\/p>\n

Eid is all about the fun, but kahk is very serious business.<\/strong> If you want the best of the best, you\u2019ll have to get your hands on them early. Not sure where to start looking? Paralyzed by too many options? Don\u2019t worry, we\u2019ve done the research for you in this weekend\u2019s guide.<\/p>\n

LAST WEEK IN 3 MINS-<\/p>\n

CAPITAL MARKETS-<\/strong><\/p>\n

Valu could hit the EGX as soon as June: <\/strong>Regional financial services giant EFG Holding has gotten preliminary approval from the Financial Regulatory Authority to restructure its ownership of consumer finance platform Valu ahead of its hotly anticipated EGX debut, which could come as soon as this June. EFG Holding will distribute a 20.5% stake in U Consumer Finance \u2014 which owns and operates the Valu brand \u2014 to its shareholders as a dividend in lieu of a conventional cash-payout for 2024, sidestepping the traditional IPO route.<\/p>\n

We unpacked the details of the unique transaction in a conversation with EFG Holding <\/strong>Group CEO Karim Awad.<\/strong> You can read the full story here<\/a>.<\/p>\n

TAX- <\/strong><\/p>\n

FinMin is working on amending the VAT Law:<\/strong> The Finance Ministry is moving to reduce<\/a>tax exemptions<\/a> under the Value Added Tax (VAT) Law, with the government looking to review goods currently exempt from the law and limit goods subject to special tax treatments, either higher than the standard VAT rate \u2014 such as telecommunications and cars \u2014 or lower at 5%. <\/p>\n

The measure comes as part of our reform program with the International Monetary <\/strong>Fund<\/strong> and follows long-standing demands from the business community for unifying the 14% VAT rate across most goods.<\/p>\n

ENERGY-<\/strong><\/p>\n

#1- Fuel bills could go up again next month:<\/strong> The government is expected to raise fuel prices<\/a> in April as it works to phase out fuel subsidies. The anticipated move is part of the government\u2019s plan to have energy prices reach cost recovery levels by the end of the year. The fuel pricing committee last raised fuel prices in October, bumping up bills by 8-17% in what was the third and final fuel hike of 2024.<\/p>\n

#2- <\/strong>Egypt is set to resume LNG <\/strong>imports<\/a><\/strong> in April <\/strong>thanks to lower global gas prices and waning European demand. The country is expected to receive four LNG shipments by April as it looks to build up a strategic gas reserve, leveraging its newly secured infrastructure to sustain operations and meet growing demand. The country is also expected to receive five or six shipments per month over summer to meet rising demand during the period.<\/p>\n

#3- Scatec <\/strong>inked<\/a><\/strong> a 25-year power purchase agreement with EgyptAlum <\/strong>for its 1.1 GW solar plant and 200 MWh battery energy storage system (BESS) in Naga Hammadi. The Finance Ministry will back EgyptAlum\u2019s financial commitments with Scatec under the newly signed agreement, after the decision was greenlit<\/a> by the House in January. The renewables player is hoping to break ground in the next 12 months.<\/p>\n

PRIVATIZATION WATCH-<\/strong><\/p>\n

The state has appointed an advisor to value Banque du Caire<\/strong>, Prime Minister Moustafa Madbouly said during his weekly presser. \u201cThe last valuation has become outdated,\u201d Madbouly said, adding that work on the process has begun. The state is yet to decide on the stake to be sold. Emirates NBD is reportedly conducting its own due diligence of the state-owned lender as it looks to acquire an undisclosed stake in the bank.<\/p>\n

INVESTMENT-<\/strong><\/p>\n

#1- A plethora of Indian companies <\/strong>expressed plans to <\/strong>invest in Egypt over a series of meetings with Investment Minister Hassan El Khatib<\/strong> during his trip to New Delhi this week. Among these plans:<\/p>\n