Back to the complete issue
Monday, 31 May 2021

Also on our radar on 31 May 2021

M&A WATCH- Odin Investments has fully acquired Alpha Capital Holding for almost EGP 50 mn, Chairman Hashem El Sayed told local press. Odin will raise Alpha’s capital to EGP 100 mn, and maintain its current management structure, he said, adding that the acquisition supports Odin’s ambitions to become an integrated investment bank.

What’s in the pipeline? Odin has plans to establish three funds, one each for real estate, minerals and SMEs, he added. Odin said in January that it would set up four investment funds, each with AUM of about EGP 500 mn, by the end of 2021

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

  • Egypt will invest EGP 3 bn to establish what it says will be the largest medical complex in northern Egypt in Suez, providing medical services to beneficiaries of the universal healthcare scheme. The scheme has so far been rolled out on a trial basis in Luxor, Ismailia and South Sinai.
  • Travellers passing through Cairo International Airport can now catch a glimpse of ancient Egyptian artifacts at the recently-inaugurated mini museums in terminals 1 and 2.
  • Mortada Mansour making a comeback soon? The Administrative Court has overturned the Olympic Committee’s decision to ban Mortada Mansour from assuming leadership roles in domestic sports activities for four years, Mansour wrote on Facebook. The new ruling comes two months after the court upheld a decision to suspend the Zamalek board and Mansour as chairman following allegations of financial violations. Mansour says he intends to file a lawsuit today to claim EGP 20 mn in compensation from the committee.

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. © 2021 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of Commercial International Bank (tax ID: 204-891-949), the largest private-sector bank in Egypt; 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; and Act Financial (tax ID: 493-924-612), the leading activist investor in Egypt; and Abu Auf (tax ID: 584-628-846), the leading health foodmaker in Egypt and the region.