Al Ahly Pharos

Prime Minister Mostafa Madbouly announced in his weekly presser that the government is planning to offer up stakes in ten state-owned companies in 2025. The offerings will be via direct sales to strategic investors and/or through EGX listing. The cabinet also approved a EUR 7 mn comprehensive technical support package to support Egypt’s green transition— dubbed the European Green Facility initiati...

- Market Overview  - EAST - ESRS - ORWE - EHDR - prepared by: Mayada Amin- CETA, CFTe

Annual headline urban inflation declined to 25.5% in November from 26.5% in October. Monthly headline urban inflation declined to 0.5% in November 2024 from 1.3% in November 2023 and 1.1% in October 2024. Annual core inflation declined to 23.7% in November from 24.4% in October, while monthly core inflation decreased to 0.4% in November 2024 from 1% in November 2023 and 1.3% in October 2024, the C...

Market Overview 

Derivates will begin trading on the EGX in 2Q 2025, Financial Regulatory Authority Deputy Chairman Islam Azzam said. Azzam highlighted futures contracts for indices as being among the incoming additions. The FRA is also considering offering financial leasing loans for industrial lands from the Industrial Development Authority (IDA) for the first time, Financial Regulatory Authority Deputy Chairman...

Market Overview  - prepared by: Mayada Amin- CETA, CFTe 

Egypt is in talks with the International Monetary Fund to extend timelines for key reforms under its economic reform program, a senior government official said. The official expects Egypt to be placed on the IMF Executive Board’s agenda before the Christmas holidays for the amendments to be given the final greenlight. The average yield on three-month EGP-denominated t-bills rose to 31.419% in Sund...

- Market Overview  - BINV - GBCO - FWRY  - CLHO - PHDC prepared by: Mayada Amin- CETA, CFTe

Wataneya and Safi are named as among the up-to-four military companies to be offered up on the EGX, unnamed sources said. The National Service Products Organization-owned filling station operator and bottled water company are reportedly currently being reevaluated ahead of a listing scheduled for 1Q25.  The EGP fell to its lowest level on Thursday since March’s exchange rate liberalization, passin...

- Market Overview  - ALCN - AMOC - BTFH - CIEB  - CLHO - prepared by: Mayada Amin- CETA, CFTe

Prime Minister said that there is a plan to offer three to four companies affiliated with the military on the EGX. We should know more next week with the release of the government’s privatization plan for the coming period. Prime Minister said that foreign companies, both new to the market and veterans, are getting ready to launch projects, including in the automotive and renewable energy industri...

- Market Overview  - ADIB - FAIT - FWRY  - ORWE - SAUD - prepared by: Mayada Amin - CETA, CFTe

*Key news articles for today* The government is planning on offering up stakes in its majority-owned Port Said Container and Cargo Handling Company (PSCCHC) and Damietta Container and Cargo Handling Company (DCHC) on the EGX during 1Q25. The sources expect the government to offer 20-25% stakes in each company, with the IPO’s private placement focused on attracting major companies like the UAE’s AD...

- Market Overview  - COMI - EAST - EFIH - ATLC - DSCW - Prepared by: Mayada Amin- CETA, CFTe

The recently formed Entrepreneurship Ministerial Committee has announced ambitious plans to increase investments in Egypt’s startups tenfold to USD5 bn in the coming period, through easing market entry among other measures. Industry Ministry revealed new information about the government’s plans to localize automotive feeder industries with a USD 360 mn joint tire-manufacturing project between the...

Market Overview  PHDC DSCW ORHD ACGC prepared by: Mayada Amin - CETA. CFTe

Hassan Allam Holding and ADP France have submitted a joint proposal to manage and operate Egyptian airports. UAE-based EV infrastructure company Zero Carbon is currently undertaking feasibility studies ahead of a launch in the Egyptian market. Egypt is planning to carry on importing liquefied natural gas until the country closes the gap between domestic production and consumption in either 2029 or...

- Market Overview  - FWRY - GBCO - HELI - EAST - ADIB - prepared by: Mayada Amin - CETA, CFTe

German companies are mulling several investments in Egypt, including: A EUR 1 billion direct reduced iron factory. A EUR 30 million flame-resistant material factory. A EUR 5 million first phase of a bicycle parts factory.  Auto parts factory in Egypt. China Glass Holding subsidiary CNG Egypt New Energy Glass kicked off construction work on a USD300 million glass factory. The ro-ro shipping line co...

- Market Overview  - COMI - FWRY  - ORHD - ISPH prepared by: Mayada Amin-CETA, CFTe

A “very important” Qatari real estate project on the North Coast is in the works, Prime Minister Mostafa Madbouly said. The Gulf nation is also looking into investments into the North Coast’s tourism and hospitality sectors, according to Madbouly, who added that they will soon present Qatar with a list of relevant investments that may be of interest in Greater Cairo and the new capital. The govern...

Market Overview 

*Key news articles for today* The government is planning to issue its first EGP-denominated sovereign sukuk in the domestic market in the next fiscal year. The government is planning to localize 50% of all vaccine production by 2030. There will then be efforts to increase this to 75% by 2035 and full self-sufficiency by 2040. The government has allocated a total of EGP10 billion to settle a signif...

Market Overview  COMI ADIB EKHOA ETEL EFIH Prepared by: Mayada Amin- CETA , CFTe

The government is mulling a permanent exemption for factories from property taxes and either raising the residential tax exemption cap or doing away with it altogether for first homes, Deputy Finance Minister said. Remittances from Egyptians working abroad more than doubled YoY in September to hit USD2.7 bn. The CBE sold EGP75.2 bn worth of t-bills with record average yields of 30.9% for three-mon...