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Monday, 19 November 2018

What we’re tracking this week and beyond

Pitch for a spot in Fintech Cairo: Pharos’ Pride Capital has launched Fintech Cairo in partnership with global seed program organizer Startup Bootcamp, along with Pride Capital has launched. The six-month accelerator program will select 10 companies from a pool of applicants. Our friends at Pharos Holding, along with Bank of Alexandria and the German development agency GIZ, are proud supporters and sponsors of the program. You can submit applications here. The deadline for submissions is the 31 December.

GERD talks within two weeks: Egypt and Ethiopia will start talks within two weeks on “unresolved” issues stemming from the Grand Ethiopian Renaissance Dam (GERD), Prime Minister Moustafa Madbouly said yesterday. Tripartite talks in September between Cairo, Addis Ababa and Khartoum failed to reach an agreement. Sudan’s Irrigation Minister Khader Mohamed said last month that the three countries had made progress towards an agreement on the filling of GERD’s reservoirs.

Amendments to Real Estate Registry Act coming: The Madbouly Cabinet is planning to introduce a bill to the House of Representatives amending the Real Estate Registry Act this week after the Egyptian Council of State completes its review, Parliamentary Affairs Minister Omar Marwan said. He did not reveal details of the amendments.

State land sale: The government is due to announce “soon” the date of its first auction of ‘unused’ state land, Public Enterprises Minister Hisham Tawfik has said. As many as 10 mn sqm of state-owned land in 10 governorates will be up for sale to developers.

Sinai development plan: The government is also reportedly set to unveil soon its new comprehensive strategy for Sinai. The plan will include a number of development and infrastructure projects in industry, agriculture, education, and sanitation, aimed at attracting as many as 2 mn new residents to the area.

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