• Sunday, 1 September 2019

    EFG receives EGP 450 mn subscription requests for “Mazid” fund

    Our friends at EFG Hermes have received EGP 450 mn-worth of subscription applications for investment certificates issued by the “Mazid” open-ended money market fund, head of asset management at EFG Nabil Moussa said. The firm accepted EGP 250 mn-worth of...
  • Sunday, 18 August 2019

    Banque Misr awarded investment banking license

    The Financial Regulatory Authority (FRA) awarded Banque Misr an investment banking license, FRA Chairman Mohamed Omran told Middle East News Agency (MENA). The license was awarded without Banque Misr needing to establish a new company.
  • Monday, 15 July 2019

    Pharos was exclusive sell-side advisor to Spinney’s in Investec acquisition

    Pharos Investment Banking served as exclusive sell-side advisor to Spinney’s in the sale of a controlling stake in the supermarket chain to Investec Asset Management, according to an emailed statement (pdf). The transaction “solidifies Pharos Investment Banking’s capabilities and growing...
  • Wednesday, 22 May 2019

    Omar Gaafar named VP for investment banking at Renaissance Capital

    MOVES- Omar Gaafar named VP investment banking at RenCap: Renaissance Capital named Omar Gaafar (LinkedIn) as vice president of investment banking in Cairo covering Egypt and MENA, Renaissance Capital said in a statement (pdf).
  • Monday, 15 April 2019

    Ahly Capital taps former Amwal AlKhaleej top Egypt exec as its new CEO

    MOVES- Karim Saada, former Amwal AlKhaleej executive vice president and Egypt country head, has joined Ahly Capital as CEO, sources said, according to Al Mal. Former CEO Khaled Badawi left Al Ahly Capital, the National Bank of Egypt’s investment arm,...
  • Thursday, 11 April 2019

    South Africa’s Absa mulls expansion into Egypt

    South African lender Absa is eyeing Egypt as a market for expansion in the future, Reuters reports. The recently-separated bank is trying to make a name for itself after splitting from Barclays and is planning an expansion into Nigeria in...
  • Thursday, 11 April 2019

    Egypt’s FRA signs off on new IPO regulations that could compel share buybacks

    REGULATION WATCH- New IPO regulations from FRA compel share buybacks of stocks that underperform in their EGX debuts: The lead managers of initial public offerings will be required to use an “online display” accessible only to them and the Financial...
  • Monday, 1 April 2019

    What we’re tracking on 1 April 2019.

    No April Fools here: It’s the first day of April, starting the clock on 1Q19 earnings season. The resident 11-year-old may go in for pre-noon pranks, but not us. This morning’s edition contains 0% fake news, guaranteed.The Finance Ministry’s draft...
  • Thursday, 28 March 2019

    EFG-managed Vortex divests stake in pan-European wind farm portfolio

    INVESTMENT WATCH- EFG-managed Vortex Energy completes divestment from pan-European wind farm portfolio: Vortex Energy, an EU-based renewables company managed by EFG Hermes’ private equity arm, has completed the divestiture of its 49% stake in a portfolio of 56 wind farms...

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