Egypt is expected to receive four LNG shipments by April, as the country looks to build up a strategic gas reserve.

The Sovereign Fund of Egypt is conducting a comprehensive review of the privatization program that could see it expand the program to 40-60 state-run companies.

Chinese textile manufacturer Jiangsu Guotai signed an agreement to set up a USD10 million readymade garment factory in the Qantara West Industrial Zone.

The Tourism Support Fund approved extending the Aviation Incentive Program, which expires next April, to the summer season from May to October 2025. 

The CBE's net foreign assets rose to c. USD12.12 billion by the end of February, compared to c. USD12.02 billion the previous month, an increase of around USD99 million.

SKPC Board of Directors proposed a cash dividend distribution of EGP0.75/share for FY24, implying a payout ratio of 26.8% and a dividend yield of 3.3%.

ALCN (FV: EGP32.50, OW) issued neutral 2Q24/25 preliminary results. Bottom line amounted to EGP1.5 billion in 2Q24/25, down 21% QoQ but up 24.3% YoY. 1H24/25 bottom line came in at EGP3.4 billion (+55.9% YoY). ALCN is currently trading at FY24/25f P/E of 9.2x and EV/EBITDA of 8.1x.

The Finance Ministry is expected to kick off the first phase of its planned desalination plants tenders, involving four plants with a combined capacity of 3 million cubic meters per day, in 2Q25. 

SCEM recorded strong FY24 results. Attributable net Income came in at EGP3,077.5 million in FY24, compared to a net loss of EGP121.4 million in FY23, noting that EGP1,517.4 million was attributed to the sale of an investment.

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