{"id":670783,"date":"2025-08-26T00:00:00","date_gmt":"2025-08-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/26\/finmin-to-settle-egp-11-bn-in-overdue-payments-to-pharma-companies-within-days\/"},"modified":"2025-08-26T00:00:00","modified_gmt":"2025-08-26T00:00:00","slug":"finmin-to-settle-egp-11-bn-in-overdue-payments-to-pharma-companies-within-days","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/26\/finmin-to-settle-egp-11-bn-in-overdue-payments-to-pharma-companies-within-days\/","title":{"rendered":"FinMin to settle EGP 11 bn in overdue payments to pharma companies within days"},"content":{"rendered":"

Good morning, folks and happy hump day to you all.<\/strong> As has been the case every day this week, we have another brisk issue for you this morning, but we don\u2019t expect things to stay quiet with a new EGX head appointed and Emirati President Sheikh Mohamed bin Zayed Al Nahyan in town for a few days. <\/p>\n

A new EGX boss? <\/strong>Mabdouly has tapped Islam Abdel Azim Azzam as chairman of the EGX, marking the end of Ahmed El Sheikh\u2019s run as EGX boss. We\u2019ll be keeping an eye out today to see how the market reacts to Azzam\u2019s appointment.<\/p>\n

<\/a> AND SOME GOOD NEWS TO START OFF YOUR DAY-<\/strong> We\u2019re in for<\/strong> a four-day workweek: <\/strong>Prime Minister Moustafa Madbouly announced<\/a> Thursday, 4 September as a holiday for the public sector in observance of Prophet Muhammad\u2019s birthday. We\u2019ll be on the lookout for similar statements from the Labor Ministry, EGX, and central bank. <\/p>\n

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In the fourth issue of our Destination Sahel series, we're bringing you the latest updates on New Alamein City and a look at the best investments in Sahel today. We also investigate the growing issue of beach erosion and its impact on our shores.<\/p>\n

Look for Destination Sahel, Issue IV, in your inbox this Wednesday, 3 September.<\/p>\n

Missed the first three issues? Tap here<\/a> to read the full series. <\/p>\n

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PSA- <\/p>\n

WEATHER- <\/strong>It\u2019s another sunny day in Cairo, with the capital in for a high of 34\u00b0C and a low of 25\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s more or less the same in Alexandria<\/strong>, which will be experiencing a high of 32\u00b0C and a low of 25\u00b0C.<\/p>\n

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POLL WATCH-<\/p>\n

<\/a> More analysts pencil in a rate cut: <\/strong>The Central Bank of Egypt is widely expected to resume its easing cycle when its Monetary Policy Committee meets on Thursday, with eight economists surveyed by Reuters<\/a> forecasting a 100 bps cut on the back of cooling inflation.<\/p>\n

The rationale:<\/strong> \u201cInflation has been declining while the EGP is strengthening against the USD, supported by government initiatives to lower commodity prices and the stability of energy prices,\u201d Zilla Capital\u2019s Aya Zoheir told the newswire, adding that expectations of a Fed cut in September also provide space for easing.<\/p>\n

That seems to be the consensus: <\/strong>Eleven of the economists and banking experts we spoke to for our customary poll<\/a> expect a rate cut between 100-300 bps this week.<\/p>\n

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WATCH THIS SPACE-<\/p>\n

<\/a> The Finance Ministry w<\/strong>ill settle EGP 11 bn in overdue payments to medical <\/strong>suppliers and pharma companies over the coming couple of days<\/strong>, sources with knowledge of the matter told Al Borsa<\/a>. The payment will be made through the Unified Procurement Authority, which owes a total of EGP 43 bn to companies. The rest will be paid out in three equal installments over three months, the sources said. <\/p>\n

We had an idea this was coming: <\/strong>We previously reported<\/a> that the UPA had plans to settle some EGP 43 bn in overdue payments to pharma companies during the current fiscal year. This came after medical suppliers called<\/a> on the government to step in to resolve the unpaid due. <\/p>\n

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CIRCLE YOUR CALENDAR- <\/p>\n

#1- El Gouna will host the launch of the 2025 Egyptian Entrepreneurial <\/strong>Sector Diagnostic Report<\/strong> between 24-26 September<\/strong>, according to a statement<\/a>. Organized by Entlaq in partnership with El Gouna, the three-day summit will bring together government officials, investors, development partners, and startup founders to discuss the findings of the report on the country\u2019s entrepreneurial community.<\/p>\n

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#2- Pharma manufacturing expo Pharmaconex will run between 1-3 <\/strong>September <\/strong>at the Egypt International Exhibition Center<\/strong>, according to a statement (pdf)<\/a>. The event will highlight recent public and private sectors\u2019 efforts to localize drug manufacturing and strengthen supply chains under the National Health Strategy 2024-2030. The exhibition will host over 350 exhibitors from 40 countries, feature 70 conference sessions, and is expected to attract some 13.5k visitors.<\/p>\n

Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n

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

The Federal Reserve is in The Donald\u2019s crosshairs again<\/strong>, this time with the US president firing governor Lisa Cook<\/a> on claims of mortgage fraud. The legally-dubious move \u2014 as presidents can\u2019t fire Fed governors without \u201ccause\u201d \u2014 came after days of back-and-forth with Cook<\/a>, who said earlier Trump\u2019s \u201cbullying\u201d will not force her to resign.<\/p>\n

Markets were not happy: <\/strong>The latest threat to the Fed\u2019s independence stoked market fears, sending Wall Street futures into the red following a losing session on Monday.<\/p>\n

MEANWHILE- A new coffee giant is coming: <\/strong>US-based Keurig Dr Pepper is taking over JDE Peet<\/a> for USD 18 bn, in what is set to be the largest M&A transaction in Europe in more than two years. The price is a 20% premium to the Dutch company\u2019s last closing price, with Keurig Dr Pepper aiming to merge with JDE and split coffee operations and other beverage products into two US-listed companies.<\/p>\n

CLOSER TO HOME- <\/strong>Two back-to-back Israeli strikes on Nasser Hospital in Southern Gaza killed at least 20 people<\/a>, including rescue workers and five journalists. Among the killed were Mariam Dagga, a visual journalist for the Associated Press, as well as Reuters contract photographer Hussam al-Masri, Al Jazeera cameraman Mohammed Salama, and freelance reporters Moaz Abu Taha and Ahmed Abu Aziz.<\/p>\n

ALSO WORTH READING THIS MORNING-<\/strong><\/p>\n