BdC’s updated valuation study has been approved by a cabinet committee, marking a step closer to IPO
· Egyptian market news
Good morning, folks.
The inflation number is the lead.
Beltone VC is closing three agreements
And on credit reporting:
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Morning Drive is your daily download of the essential headlines shaping Egypt. A condensed version of the newsletter in audio form. Hosted by ‘Synthetic Salma’ — an AI-powered version of our own Executive Editor Salma El-Saeed.
Another gate swings open
Banque du Caire (BdC) has cleared another checkpoint on the way to the EGX. statement discussed in March
Adopting the valuation opens the way to roadshow rounds fresh price tag EGP 78 bn
REFRESHER- 2007 2019 circling
Switching on a desert grid
Karm Holding will start up an independent solar network in Dakhla, New Valley, before year-end
Meanwhile, Zahran met with governor Hanan Magdy to discuss a broader New Valley plan
REMEMBER- told us about
Ten steelmakers, eight licenses
The Industrial Development Authority closed applications last week for eight licenses that would add 2.8 mn tons a year of local billet capacity
IN CONTEXT- announced in August over two years in the making
The pull is a local billet shortage.
The 200k-ton tier is oversubscribed in April
What’s next: weighing extending
Developer debt under microscope
The Central Bank of Egypt (CBE) ordered banks last week to compile data on all loans and credit lines given to real estate projects
Banks have already begun complying August directive
Why this matters: EGP 180.4 bn
The Egypt Forum is back
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It’s a little bit cooler in Alexandria
The big story abroad
Several AI-related stories get top billing today has cited
Fellow chiefs agree: blog post
In other AI news: terminated
Another high-stakes AI position: axed plans