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Wednesday, 14 November 2018

What we’re tracking on 13 November 2018: SWF regs and CEO, M&A forum, AUC coins

Wealth fund regulations to be completed “within days”: The bylaws and articles that will regulate Egypt’s proposed EGP 200 bn sovereign wealth fund will be completed within the coming days, Youm7 reports, citing an unnamed official in the Planning Ministry.

But don’t expect a CEO to be named just yet. While Youm7’s source tells it that a CEO could be named within days, an insider tells us that the team working on the fund will need more time before it announces who will lead the high-profile fund. We had reported in late October that a shortlist of Egyptian candidates had been sent to the Madbouly cabinet for approval. Youm7’s source notes that the Sisi administration is keen to launch the fund before year-end.

The Egypt M&A and Private Equity Forum gets underway this morning at the Nile Ritz Carlton.

It looks like Egypt is going to issue commemorative coins marking the 100th anniversary of AUC’s founding according to a statement issued yesterday by the Council of Ministers. AUC was founded in 1919. We have more on their weekly cabinet meeting in Speed Round, below.

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