Al Ahly Pharos

Pre-Trading Thoughts


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  • The Ministry of Supply is set to decide the price of subsidized bread by end of March, according to the government’s plans to increase the price of subsidized bread which is currently sold for EGP 0.05 per loaf but costs EGP 0.6-0.65 to produce.
  • The government is considering restructuring the water consumption segments, the accounting categories for customers, and the method of accounting, both for household and non-domestic units
  • The total export support under the immediate payment initiative rose to EGP20.6 billion for about 1,751 companies, as of December 30.  465 new certificates were issued to 455 exporting companies, as a first batch of the fourth phase of the exporters’ immediate payment initiative, with total payments of EGP957.4 million.
  • Exports of ready-made garments increased by 38% YoY in 11M2021, recording USD1.7 billion. Food exports also rose to USD3.8 billion during the same period by 18.7% compared to the same period last year.
  • The Head of the Commercial Representation said that the Ministry of Trade and Industry aims to increase Egyptian exports to the COMESA countries (21 countries) by 50%, in light of Egypt's presidency of the COMESA countries.
  • Food manufacturing companies have started repricing their products as sugar prices for the industrials sector witnessed a price rise of EGP500/ton to reach EGP10,000/ton. Some companies are considering a rise in prices while others, sizes of packages. 

  • CLHO (FV: EGP6.40, OW) announced signing an agreement to manage and operate “Sky Hospital” for 27 years. 
  • CICH’s (FV: EGP 5.00, OW) leasing arm Corplease has completed issuing securitized bonds worth EGP2.4 billion
  • Valu, the consumer finance arm of HRHO (FV: eGp 19.61, OW) outlined target sales of EGP5 billion in 2022 and its plans to enter new markets that are similar to the Egyptian market, including the Saudi market.
  • According to Hany El Kholy, El Nasr Car Manufacturing Managing Director, the company is currently negotiating with 7 brands to produce electric vehicles in Egypt within 2022. 
  • PRDC closed a EGP627.5 million securitized bond issuance as part of its planned EGP3.0 billion securitization program.
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