Back to the complete issue
Sunday, 28 August 2016

No cabinet shuffle coming as a result of Hanafy’s resignation

There’s no cabinet shuffle in the offing, said Prime Minister Sherif Ismail on Saturday, according to Al Masry Al Youm. The PM was denying rumors in the same newspaper claiming as many as six ministers would exit government service. Reuters cited “one government and one presidency source” as saying a cabinet shuffle was imminent after Hanafy’s resignation, also saying that as many as six ministers would exit. Al Mal reported that three to six would leave, naming the religious endowments minister as being among those expecting the axe.

Trade and Industry Minister Tarek Kabil will run supply portfolio until a new minister is appointed, Al Borsa reports. Kabil will have to hold down the fort for at least two weeks, according to remarks by Prime Minister Sherif Ismail picked up by AMAY. Al Borsa says Mamdouh Abdel Fattah, deputy Chairman of GASC, is being vetted for the position, while Al Mal claims five others are in the running, including current Military Production Minister Mohamed El Assar, Internal Trade Development Authority chief Ahlam Roshdy, Consumer Protection Agency boss Atef Yacoub.

Governorate shakeup coming: A shakeup of governors is coming before the end of the month, said Local Development Minister Zaki Badr, according to Al Borsa. Less than ten governors will be replaced, the minister added.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.