Al Ahly Pharos

- Market overview - COMI - FWRY - AUTO - ACGC - ISPH - JUFO - EGCH Prepared by: Mayada Amin - CETA, CFTe

Government planning incentives to support the businesses: Extending the current freeze on natural gas prices for four years; A new incentive program for local auto assembly Government targets in FY21/22 a primary surplus of 1.5% of GDP, reduce the total deficit to 6.7%, and reach growth of 5.4% Egypt will be looking to tap international debt markets again in February or March 2022 Remittances in 7...

- Market Overview - MTIE - EXPA - ESRS - EFIC - MENA Prepared by: Mayada Amin - CETA, CFTe

Egypt's BoP recorded an overall surplus of USD1.9 billion in FY2020/21, compared to a deficit of USD8.6 billion last FY Current account deficit surged to USD18.4 billion, up from USD11.2 billion (+64% YoY) Trade deficit widened from USD36.5 billion in FY2019/20 (+15% YoY) Tourism revenues recorded USD4.9 billion in FY2020/21 Net FDI recorded USD5.2 billion in FY2020/21  Remittances hit USD31....

- Market Overview - COMI - FWRY - ESRS - DOMT Prepared by : Mayada Amin- CETA, CFTe

Egypt expected to be back to JPMorgan’s emerging-market sovereign bond index by January 31, 2022 with an index weight of 1.85% Egypt’s LNG exports are set to rise as shipments from the Idku liquefaction plant and the recently revived Damietta plant ramp up Suez Canal revenues recorded USD4.86 bn YTD in 2021 (+12.4% YoY) Egypt looking to tap international debt markets again in February or March 202...

Market Overview  COMI  CIEB SWDY MNHD CCAP ECAP ORWE Prepared by: Mayada Amin - CETA, CFTe

Foreign investments in treasury bills fell to USD23.548 billion at the end of August 2021, compared to USD23.710 billion at the end of July 2021 Egypt's trade deficit declined in July 2021 by 14.6%, to USD2.88 billion, Exports increased by 31.5% YoY, recording USD2.94 billion e-finance has priced its IPO at EGP13.98/share, implying a pre-capital increase valuation of EGP22.37 billion  FWRY ha...

Market Overview SWDY ETEL CIEB EDBM ELSH EGAL Prepared by: Mayada Amin - CETA , CETA

Weekly Commodity Update ·         Brent futures are trading at USD83.66/bbl (AMOC) ·         The Egypt urea index at USD752/ton, +16% WoW (EKHO, ABUK, MFPC) ·         Caustic Soda prices at USD498/ton, +10.9% WoW (MICH) ·         Steel/Iron Ore spreads are at the USD402 mark, + 5% WoW (ESRS) ·         LME 3M Fwd Aluminum prices rose 4% WoW to record USD2,966/tonne (EGAL) Another state-owned compan...

Market Overview COMI MFPC AMOC ATLC PORT Prepared by: Mayada Amin - CETA, CFTe

Annual urban inflation recorded 6.6% up from 5.7% in August Budget deficit in 2M FY2021/22 (July-August 2021) picked up to EGP120.5 billion (1.7% of GDP) QNBA 3Q21 net profit pre-minority interest recorded EGP1.91 billion (-10% q/q, +6% y/y) CNFN  to launch a program to resell used vehicles to customers FWRY is partnering with Uber to allow customers to recharge their Uber wallets via FawryPay AME...

Market  Overview HELI AMER ORHD CCAP AJWA Prepared by: Mayada Amin-  CETA, CFTe

-We expect annual urban inflation to retreat to 5.5% down from 5.7% in August -The fuel repricing committee decided to increase prices of gasoline by EGP0.25 per liter, while keeping Diesel prices constant -The government is looking to raise USD 2 bn through a three-year syndicated facility -Afreximbank is currently in talks with four local banks over financing (USD600 mn -USD 1 bn) -Foreign inves...

-We expect annual urban inflation for September to retreat to 5.5% down from 5.7% in August -Egypt will export natural gas to Lebanon within the next few weeks (Theme: Energy exports and BoP) -Colliers International expects a continuous recovery in both revenues and occupation rates of key tourism destinations in Egypt - ORAS- Hitachi ABB to execute all work in Egypt to connect the national power...

Market Overview  JUFO MPRC EKHO FWRY RACC

Market Overview COMI FWRY MTIE MENA Prepared by: Mayada Amin - CETA, CFTe

Egypt's PMI fell to a four-month low of 48.9 in September, due to a decline in output and new orders NIR increased by approximately USD153 million in September, reaching USD40.825 billion  Minister of Public Enterprises: State privatization program won’t be delayed by capital gains tax on EGX transactions  CBE made changes to its middle-income mortgage finance program  FRA has issued new regu...

Ibrahim Sarhan, Chairman and CEO of E-finance answers all questions related to E-Finance's establishment, lines of business, growth prospects and the upcoming IPO.  A 25 minute Q&A  covers all financial details to help you make your investment decision.

Market Overview ABUK AMOC MFPC ETEL Prepared by: Mayada Amin- CETA, CFTe

-Egypt’s first sovereign sukuk offering could be in the range of USD500 million, possibly as early as 2022 -Net foreign assets (NFAs) of the banking system retreated to USD10.1 billion in August from USD15.67 billion in July -EM equities vulnerable to a spike in US treasury yields, Egypt is best placed among EM  -Government entities won’t pay dues of suppliers and contractors without a proof of fu...

-Market overview  - TMGH - HELI - HRHO - AMIA - EGCH Prepared By: Mayada Amin- CETA, CFTe

-e-finance indicative price range implies a pre-money valuation range of EGP20.0-22.4 billion -Ministry of Finance noted that around 3.03k companies have already joined the e-invoice platform; with  total of 60.5 million electronic invoices (e-finance) -The Customs Authority’s Advanced Cargo Information (ACI) platform now being implemented (e-finance) -HRHO is in talks to acquire a 45-49% stake in...

Market Overview  EGCH AUTO AMOC MTIE

-Environment Protection Agency is reconsidering the USD33.9 million compensation claim levied on ORHD -Cabinet approved a draft law that simplifies licensing procedures for hotels and tourism companies -Cabinet also approved extending the exemption of foreign airlines from paying annual fees until 30 April 2022 -Tourism investment companies are negotiating with the Tourism Development Authority to...