Back to the complete issue
Thursday, 25 March 2021

Also on our Radar on 25 March 2021

Legislation that would impose harsher penalties for FGM earned approval (somewhat begrudgingly) from the House Legislative Committee yesterday, after the Senate had signed off and shipped the bill back to the House of Representatives. A handful of MPs in the committee proposed scaling back the penalties, suggesting that the attempt to clamp down on the practice would encourage families to resort to barbers and midwives to carry out the procedure outside of clinics. The representatives suggested that community outreach initiatives and awareness campaigns would be more effective in curbing the practice.

Other things we’re keeping an eye on this morning:

  • Ports in Alexandria, Dekheila and Sharm El Sheikh were closed yesterday due to bad weather, a day after four Red Sea ports were shuttered. All Red Sea ports apart from Ain Sokhna were reopened yesterday (here and here).
  • The Arab International Bank will increase its stake in SAIB Bank to 50.43% from 46.07%, purchasing 655,466 shares in a USD 2.9 mn transaction after receiving regulatory approval from the Central Bank of Egypt.

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 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; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.