Back to the complete issue
Monday, 25 October 2021

Edita raises Molto price points

Bestselling snack is getting (slightly) more expensive: Edita Food Industries raised the price of Molto by EGP 1 (pdf), and is now selling two ranges of the packaged croissants at EGP 3 and EGP 4, in a bid to improve its bottom line following the global boom in commodity prices. Their EGP 5 croissants were left unchanged.

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

  • ADIB Egypt gets green light for consumer finance arm: Abu Dhabi Islamic Bank in Egypt has obtained regulatory approval to launch its consumer finance arm, ADI-Consumer Finance, according to a statement.
  • Egypt-Cyprus double taxation treaty ratified: President Abdel Fattah El Sisi has ratified the 2019 agreement between Egypt and Cyprus to eliminate double taxation, according to a decision published in the Official Gazette.
  • Oaks Hotels will debut its brand in Egypt with a 400-room hotel in the new administrative capital by 2025.
  • The tourism and higher education ministries signed an MoU yesterday that will give international students access to the same discounted ticket prices as local students when visiting antiquity sights.
  • Misr Life Ins. signed an agreement with the Agricultural Bank of Egypt to provide its services through the bank’s branches in rural areas.

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.