Importers upside down after the float are still looking for relief: Companies with pre-float LCs and demand loans worth more than USD 5 mn will meet with the Union of Egyptian Investors Associations (UEIA) on Sunday, 9 April to discuss relief and payment schedules, Al Borsa reports. The UEIA is lobbying the CBE to give affected companies 10 years at an interest rate of 7% to make good on what they owe. The UEIA and Central Bank had brokered a settlement agreement for companies with pre-float debt lower than USD 5 mn in February that had set a repayment period of two-seven years at a 12% interest rate.

Renaissance Capital will hold its Egypt Investors Conference at the Vineyard Hotel in Cape Town on 24-25th April 2017. The event will see senior management from leading Egyptian companies meet one-on-one with South Africa-based investors. Speakers at the conference will include our friend Ahmed Badr, the CEO for MENA at Renaissance Capital, and a macroeconomic update from RenCap’s global chief economist, Charles Robertson.