Last night’s talk shows for Monday, 10 February 2020
The nation’s chattering class are still preoccupied with the African Union’s (AU) heads of states gathering, which President Abdel Fattah El Sisi took part in yesterday.
El Sisi hands over AU chairmanship to Ramaphosa: Al Hayah Al Youm’s Lobna Assal took note of El Sisi has officially handing over the AU’s rotating chairmanship to South African President Cyril Ramaphosa. El Sisi spoke to the AU’s assembly of heads of states, recapping Egypt's one-year presidency and the country’s efforts to promote security and peace in the continent (watch, runtime: 1:25). Al Kahera Al Aan’s Lamis El Hadidi also took note of the speech (watch, runtime: 4:20).
New African counterterror task force in the making? Assal phoned former former Organization of African Unity Assistant Secretary General Ahmed Haggag for a chat about the president’s proposal to host a summit in Cairo to look into creating a pan-African counterterrorism task force (watch, runtime: 5:59). Hagag said the task force would make up for a lack of coordination between African national armies, and prove a useful tool against the African refugee crisis, forced displacement, and the the threat terrorism poses to national insitutions and infrastructure on the continent.
For your daily dose of business and econ news: El Hadidi, whose show only airs on Sunday and Monday, recapped the recent updates updates on the Saudi Telecom Company’s (STC) bid to acquire Vodafone Group’s stake in Vodafone Egypt, and the Financial Regulatory Authority requiring STC to lodge a mandatory offer for the remaining stake in Vodafone Egypt (watch, runtime: 9:13).
STC likely already knew the MTO would be a requirement, and is likely both capable and willing to purchase Telecom Egypt’s 44.8% stake in Vodafone Egypt, Shuaa Securities’ head of research Amer El Alfy tells El Hadidi. The company is barely leveraged, which means it could easily finance the buyout through debt, even if it doesn’t have liquidity, El Alfy adds. As for willingness to buy, STC is likely to be interested enough in a large and growing market that still hasn’t achieved its potential for broadband penetration, he adds.