Egypt's economy grew by 9.8% in 1QFY2021/22, due to base effect and tourism recovery

Egypt is developing a medium-term revenue strategy to increase tax revenues by 2% of GDP in four years

Future Flow transactions/securitization will be introduced in Egypt, which allows companies to sell securities backed by future income

Valu (HRHO) is preparing to penetrate new markets, led by Saudi Arabia; Local revenue target is EGP2 billion for 2021 and EGP4 billion in 2022 

NBK- Egypt called for an EGM on December 16th to discuss the delisting from the Egyptian Exchange

Afrixim Bank is currently studying injecting indirect financing into Egypt through local banks worth USD1 billion 

ORAS joined the Green Hydrogen Consortium with Fertiglobe and The Sovereign Fund of Egypt to develop Egypt’s first green hydrogen production facility; Value not disclosed 

Aldar-Gamma consortium is targeting to amend the articles of association of OCDI, in the event the acquisition is complete, in order to amend the percentage of the controlling stake to 51% instead of 66.7%

Mobile phone sales in Egypt grew by 13.6% YoY during 10M2021 to reach 13.641 million devices (MTIE)

Last October, the car replacement initiative achieved the highest monthly delivery rate with 2,100 cars during the month; YTD deliveries reach 8,000 passenger cars and 370 microbuses

Egypt's exports of yarn, textiles and home furnishings rose by 28% in 9M21, recording USD1.12 billion (ORWE, DSCW)

RMDA’s AGM will take place today to discuss foreign institutional buyer’s interest to acquire up to 5% from a current individual investor, whose two-year lock-up period has not yet expired

GSSC proposed the distribution of FY20/21a DPS of EGP3.25, DY of 5.2%