Back to the complete issue
Tuesday, 20 August 2019

Gov’t almost ready to push ahead with privatization program

Gov’t almost ready to push ahead with privatization program: Public Enterprises Minister Hisham Tawfik told El Hekaya’s Amr Adib that the committee in charge of the state’s privatization program has completed 96% of the preparations for state companies due to either sell shares or offer shares in an initial public offering before the end of the year. Banque du Caire is among the companies “on its way to IPO” as part of the second wave of the state’s privatization program, Tawfik added (watch, runtime: 7:02).

The Chamber of Commerce is bullish on gold: Adib also interviewed Ehab Wassef, deputy head of the gold division at the chamber of commerce, for his two cents on where gold prices are headed. “Gold is still a safe investment as its price is expected to rapidly rise,” Wassef said (watch, runtime: 6:05).

The PM’s directive to accelerate work on a new axis project also got some airtime: Al Hayah Al Youm’s Lobna Assal took note of a directive by Prime Minister Moustafa Madbouly to speed up ongoing works at a two-way axis near El-Tawarei Canal linking Gesr El Suez to the Belbeis desert road (watch, runtime: 2:33).

Egypt, EBRD sign grant agreement for railway renovation: The government signed a EUR 1.5 mn agreement with the European Bank for Reconstruction and Development (EBRD) to renovate railway locomotives and develop a railway freight system, Al Hayah Al Youm’s Lobna Assal reported (watch, runtime: 4:22).

Harvard economic report receives coverage: Masaa DMC’s Eman El Hossary reported that Prime Minister Moustafa Madbouly held a cabinet meeting to review the findings of a report by the Harvard Center for International Development (watch, runtime: 2:00). The report forecasts Egypt’s economy to grow at an average 6.8% clip over the coming decade due to diverse and specialized exports.

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; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.