Egypt’s external debt dropped by 0.5% q-o-q to just under USD 155.0 bn in 1Q FY 2022-2023 (from July-September 2022).. The figure is up some 12.8% y-o-y from 1Q FY 2021-2022. 

The government is considering launching a new export subsidy program at the start of the upcoming fiscal year. The state is also looking into adding new sectors to the subsidy program.

The Suez Canal Authority will raise fees for oil ships transiting the waterway from the beginning of April. Tankers carrying crude oil and petroleum products will pay a 25% surcharge as of 1 April, from 5% currently. While their empty counterparts will pay 15%. The surcharges are “temporary” and revised or scrapped based on global shipping conditions.
SCZone Chairman is in Tokyo to drum up investment in the zone from Japanese investors. Water treatment, desalination plants, and green fuel production were the focus of some of the talks. 
SCZone officials met with representatives from Malaysian palm oil giant Sime Darby in Cairo to discuss efforts to localize the palm oil industry.
The World Bank could finalize its development finance program with Egypt next month. which will likely extend for five years, on 21 March. 
PHAR released initial 2022 topline figures, with revenues approaching EGP4.0 billion, in line with our estimates of EGP3.95 billion.
Gulf investors showed interest in acquiring a stake in SKPC after the latter finalizes its acquisition on Ethydco.

TAQA Arabia expects the company’s IPO to take place during 2023. He added that TAQA’s investments are expected to reach USD32 billion during the period from 2023 till 2027.

Egypt signed five agreements with national and international companies to search for oil and gas and produce them in four regions in the Western Desert and North Sinai offshore in the Mediterranean.

Energean plans to invest USD350 million in its 100% owned Abu Qir concession this year. 

Oil Minister announced targeting producing 600k bbl/day of crude oil and 6.5 billion cubic feet of natural gas per day during 2023. He expects Narges reserves to reach 2-2.5 trillion cubic feet. He added that Egypt's LNG did not yet reach its maximum production capacity (21 billion cubic feet per day) and that establishing a third liquefaction station is still under study. 

The government’s expat car-for-FX scheme will likely remain open until mid-May after the House Planning and Budget Committee yesterday gave preliminary approval to amendments granting it a two-month extension.

Seif Thabet was reinstated as JUFO's CEO, vice-chairman, and board member representing Pharon Investment Limited, which owns a 52% stake in JUFO. While Mr Niels Thomsen (previous CEO) was appointed as managing director.

Riyad Bank and Al Rajhi Bank are looking to either fully acquire or buy a stake into state-owned United Bank. The banks would be looking to come on board as strategic investors, according to El Fiqi, who didn’t disclose how much of United Bank is up for sale. 

EFG Hermes’ second-largest shareholder, Ripplewood, has sold two thirds of its stake in a series of block transactions yesterday. The firm sold almost 92 mn shares at an average price of EGP 19.32 per share. Ripplewood’s holdings decreased from 11.7% to 3.9%. Abu Dhabi-based investment firm Chimera purchased a 2.62% stake in EFG Hermes. JS Holding Ltd purchased a 5.25% stake.

SWDY signed an MoU with Emirati firm Gulf Data Hub to invest USD2.1 billion to build three data center complexes in Egypt which together would form the African continent’s
Minister of Communication and Information Technology is concluding a detailed plan to start implementing the 5G technology.

ORHD (FV: EGP15.32, OW) signed a master agreement with the Egyptian authorities that includes many decisions you will find them in details in our "Pre Trading Thoughts" report.