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Tuesday, 9 June 2020

BRIEFLY NOTED- CBE’s POS machines, Emaar Misr says Cairo Gate isn’t new, Sika closes Bitumode acquisition

BRIEFLY NOTED-

  • It will cost the central bank EGP 500-600 mn to finance the cost of rolling out 100k point-of-sale machines nationwide, Al Mal. The machines are rolling out as part of the CBE’s digital push. The CBE is also giving incentives to banks that promote POS payments.
  • Emaar Misr has clarified that its bid to build an EGP 40 bn development in the Greater Cairo Area isn’t new, according to a disclosure to the EGX. Its Cairo Gate proposal has been under review by authorities for some time, it said.
  • Sika Egypt has completed its EGP 460 mn acquisition of Modern Waterproofing (Bitumode), according to an EGX disclosure.

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