Back to the complete issue
Tuesday, 9 June 2020

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


  • 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.

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. © 2020 Enterprise Ventures LLC.