FOR THE FIRST TIME… OFFERING INCENTIVES TO INVESTORS IN INDUSTRIAL COMPLEXES, AND CANCELING STANDARD COSTS

FOR THE FIRST TIME… OFFERING INCENTIVES TO INVESTORS IN INDUSTRIAL COMPLEXES, AND CANCELING STANDARD COSTS

by | Jan 3, 2022 | News Station

For the first time… offering incentives to investors in industrial complexes, including reducing the price of the specifications from 2500 to 500 EPG and canceling standard costs.
The Ministry of Trade and Industry announced a plan to establish 10 industrial complexes in Upper Egypt, providing 2,628 industrial units.
On 25th December, President Abdel-Fattah El-Sisi Launched 5 industrial complexes in Upper Egypt, 1178 units, including Al-Baghdadi in Luxor, Bayad Al-Arab in Beni Suef, Al-Matahra in Minya, and Hurghada in the Red Sea, which is Qena.
Jamea’ explained that the ministry has provided many extraordinary advantages and incentives, including simplifying the conditions and documents required to obtain units in industrial complexes, as the price of the specifications book has been reduced to only 500 EGP, and standard costs have been eliminated in exchange for studying request fees, which amounted to 2500 EGP, the deposit of reservation has been reduced from 50,000 EGP to 10,000 EGP.
Nevin Jamea’, Minister of Trade and Industry, said that sustainable industrial development in the governorates of Upper Egypt comes at the top of the priorities of the ministry’s work plan during the current stage.
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EFG HERMES HOLDING ANNOUNCED THAT IT HAS SUCCEEDED IN TRANSFORMING INTO A COMPREHENSIVE BANK IN THE EGYPTIAN MARKET

EFG HERMES HOLDING ANNOUNCED THAT IT HAS SUCCEEDED IN TRANSFORMING INTO A COMPREHENSIVE BANK IN THE EGYPTIAN MARKET

by | Jan 3, 2022 | News Station

EFG Hermes Holding announced that it has succeeded in transforming into a comprehensive bank in the Egyptian market, in addition to being the leading investment bank in emerging and frontier markets, after completing the acquisition of 51% of the Arab Investment Bank.
Under the terms of the deal, EFG Hermes Holdings will lead the Arab Investment Bank (aiBANK), with the Egypt Sub-Fund for Financial Services and Digital Transformation, a wholly-owned owned subsidiary of the Sovereign Fund of Egypt and a significant partner of EFG Hermes Holdings, acquiring a 25% stake in the bank.
Karim Awad, CEO of EFG Hermes Holding, said that the completion of this landmark transaction with our esteemed partner, the Sovereign Fund of Egypt, will contribute to transforming our operations in Egypt into a comprehensive banking platform.
that the group’s new business model will benefit its shareholders by providing a clear vision of future profitability rates and dividends, as well as the possibility of profiting from partial exit opportunities from some of its subsidiaries.
NATIONAL BANK OF EGYPT ACQUISITION FOR 60% OF ELECTRONIC COMMERCE IN EGYPT

NATIONAL BANK OF EGYPT ACQUISITION FOR 60% OF ELECTRONIC COMMERCE IN EGYPT

by | Dec 30, 2021 | News Station

National Bank of Egypt Acquisition for 60% of electronic commerce in Egypt.
Mohamed Jamil, head of the retail sector and retail sales at the National Bank of Egypt, revealed that it accounts for about 60% of e-commerce in Egypt, indicating that it accounts for 47% of the total electronic payment machines “POS”.
He confirmed that the total machines in the Egyptian market amount to about 700 thousand, explaining that the National Bank has about 325,000 “POS” machines.
“The National Bank owns about 36% of credit cards in Egypt through about 16 million various cards” he said.
Jamil pointed out that the National Bank is launching new digital solutions to convert merchants’ smartphones into electronic payment points “POS” to facilitate financial transactions and reduce costs with a new experience.
He explained that the Central Bank’s initiative to distribute points of sale for digital transactions contributed to the recovery of online market purchases, in addition to the spread of electronic payment machines.

ADSERO AIDED THE SOVEREIGN FUND OF EGYPT, MOBICA, AND EFG HERMES IN THE EXECUTION OF THIS GROUNDBREAKING DEAL

ADSERO AIDED THE SOVEREIGN FUND OF EGYPT, MOBICA, AND EFG HERMES IN THE EXECUTION OF THIS GROUNDBREAKING DEAL

by | Dec 26, 2021 | News Station

Adsero aided The Sovereign Fund of Egypt, mobica, and EFG Hermes in the execution of this groundbreaking deal. As a result, sovereign investment and leading national investment arms have collaborated with GEMS Egypt, an international industry-leading education provider, to create premium education services.
Dr. Hala Al-Saeed, Minister of Planning and Economic Development and Chairman of the Board of Directors of the Sovereign Fund of Egypt, witnessed the laying of the foundation stone for the construction of two schools on the land of the Global Village, in partnership between the Sovereign Fund of Egypt and the Mobica Company, within the framework of the Fund’s plan to exploit movable assets, support education as well as generating good investment returns.
According to the agreed partnership model the Sovereign Fund of Egypt, in partnership with Mobica, will establish the company, provided that GEMS Egypt will manage the two schools for an administrative fee.
Mohamed Abdelgawad, Founding Partner and Head of Corporate and Commercial, and Ahmed Adib, Senior Associate, lead the Adsero team.
Adsero worked alongside Al Tamimi & Company to finalize the management agreement between the project company and GEMS Egypt.
Investment in modern technology-related Education is obviously consistent with the National Structural Reform Programme and encourages the improvement of human capabilities in the labour market.
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AL- TAMIMI & CO. ADVISES THE SELLING SHAREHOLDERS OF MERIT UNIVERSITY IN UPPER EGYPT

AL- TAMIMI & CO. ADVISES THE SELLING SHAREHOLDERS OF MERIT UNIVERSITY IN UPPER EGYPT

by | Dec 26, 2021 | News Station

Al-Tamimi & Co. advises the selling shareholders of Merit University in Upper Egypt
Al-Tamimi & Co. advises the selling shareholders and majority owners of Merit University in Upper Egypt on the acquisition of their stake in the university by Honoris United Universities, which is owned by the world’s leading investment firm Actis.
Al Tamimi’s team (Ehab Taha, Zainab Shohdy, and Hanya Ahmed Abdel Rahim) advised the selling shareholders on all aspects of the transaction and led the negotiations of the share purchase agreement and accompanying documents with their friends at Compass Capital.

in 2018 after the discovery of the giant Zohr gas field – the largest in the Mediterranean, and the current production of natural gas is between 6.5 to 7 billion feet cubic meters of natural gas per day.