• Sunday, 12 February 2023

    Gov’t to hire 30k new teachers in bid to end shortage + telcos can market micro ins. policies

    EDUCATION-Teacher hiring drive: The Education Ministry is looking to hire 30k primary school assistant teachers for the first, second and third grades to start in the 2023-2024 academic year, according to a Central Agency for Organization and Administration statement. Applicants...
  • Wednesday, 18 January 2023

    New FRA regulations aim to help insulate ins. companies from credit risk of borrowers

    FRA hands down new regulations controlling ins. against credit risks: The Financial Regulatory Authority (FRA) has issued new regulations designed to mitigate credit risk for ins. companies, it said in a statement on Monday. The amendments aim to encourage lenders...
  • Wednesday, 4 January 2023

    Four state-owned companies ready to list, with eight more to follow -EGX

    Gov’t is ready to pull the trigger on listings of shares in four firms: The Madbouly government is ready to offer shares in four state-owned firms on the EGX and has eight more listings in the pipeline as it looks...
  • Sunday, 11 December 2022

    Vodacom closes acquisition of 55% stake in Vodafone Egypt

    Vodacom is Vodafone Egypt’s new majority shareholder: Vodafone Plc’s South African subsidiary, Vodacom, has closed the acquisition of its parent company’s 55% stake in Vodafone Egypt, Al Mal reported on Thursday. The company reportedly acquired Vodafone’s 132 mn shares in...
  • Wednesday, 7 December 2022

    Competition Act amendments pass the House

    MPs give their final approval to Competition Act amendments: The House of Representatives yesterday voted to pass amendments to the 2005 Competition Act following two days of debate. The amendments — which got initial signoff from the chamber on Monday...
  • Monday, 5 December 2022

    Progress on golden licenses

    CUSTOMS-New customs rules aim to clear backlogs at ports: The Customs Authority is obliging importers to submit import approvals from the General Authority for Freezones and Investment (GAFI) before they request an ACID number for their shipments, Al Borsa reports....
  • Wednesday, 23 November 2022

    The cost of Egypt’s ambitious tourism targets? USD 20 bn, according to the tourism minister

    Among the other stories we’re paying attention to this morning:TOURISM-Egypt is going to need USD 20 bn if it’s going to realize its ambitions to attract 30 mn tourists a year, Tourism Minister Ahmed Eissa told MPs yesterday. “Egypt needs...
  • Thursday, 17 November 2022

    FRA approves BdC IPO deadline extension

    Banque du Caire pushes IPO deadline to March 2023: The Financial Regulatory Authority (FRA) has allowed Banque du Caire (BdC) to postpone the deadline for finishing procedures to IPO on the EGX to 31 March 2023, it said in a...
  • Monday, 14 November 2022

    Turkish industrial giant eyes Egypt’s auto sector

    M&A Watch: The Financial Regulatory Authority is examining a voluntary tender offer by Vodacom to acquire 0.05% of Vodafone Egypt for EUR 17.92 a share, it said in a statement (pdf) yesterday. The transaction would see the South African subsidiary...

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