Back to the complete issue
Tuesday, 4 May 2021

Also on our Radar on 4 May 2021

Juhayna has lodged an official complaint with the Traffic Police over what it described as the “unjustified targeting” of its fleet, Reuters reports. The company says that traffic authorities regularly gather outside the company’s factory in Giza and have withdrawn licenses of 132 of the company’s vehicles, causing the company to suffer financial losses. The 6th of October traffic department has also allegedly prevented the company from renewing licenses for 65 of its vehicles. The company’s Chairman Safwan Thabet was arrested late last year amid allegations of ties to the Ikhwan; CEO Seif Thabet has also been detained

GOOD NEWS FOR FACTORIES: The Finance Ministry will fix electricity and gas prices for industry for the next three years, which would cost the state coffers EGP 10 bn, minister Mohamed Maait said in a statement as budget talks continue in the House of Representatives.

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; 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.