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The amount represents almost six times the preliminary targeted subscription, leading the company to increase the maximum fund’s limit to EGP 500m before the end of the subscription period.
Parliamentary health committee has one month to discuss draft law, before general voting on 1 November
Company expects to complete procedures, obtain FRA approval for incorporation within next month
The oversubscribed offering raised about EGP 338.7m, representing 136% of the targeted capital of EGP 250m, so the allocation of shares will be made according to each subscriber’s contribution.
The ministry said the lack of information prevents many workers from getting their full rights, whilst also preventing financial support from arriving to those who deserve it, especially during crises.
The funds are within the $3bn agreement framework between Egypt and ITFC that was signed in January 2018.
Rural women have acquired the lion’s share of Mastourah financing programme, says fund’s acting executive director
Manshiet El Nuba at Toud district declared as Virus-C free
Africa and Development Club gateway for Egyptian exporters to penetrate African markets
Chinese embassy defending electric train project following Fitch’s criticism
Discussions with FMO to borrow $10m, a factoring company to be launched mid-March
Government received 28.105% of loans, industry 24.627%, services 25.957%, retail 17.286%, trade 7.627%
Project aims to identify export opportunities for Egyptian products
EGP 5.3bn were allocated to fund 247,000 small, micro projects, providing 395,000 jobs
Strong private sector essential for job creation, this requires improving business environment, governance, transparency, access to finance, accountability of public institutions
The Fund will be managed by Misr Beltone
NI Capital, the investment arm of the National Investment Bank, Ayady for Investment and Development, and Post for Investments have joined forces to establish Tamweely for Microfinance with an issued capital of EGP 50m and an authorised capital of EGP 500m, according to a press release on Tuesday. According to the statement, Tamweely for Microfinance …
Ministry of Finance offers T-bills worth EGP 349.5bn and bonds worth EGP 21.5bn from July until the end of September 2017
The fund will be jointly financed by Misr Company for Entrepreneurship and the UNDP
Large amounts of pensions are held by the government without it paying returns on them for the past ten years
Saudi Arabia launches three real estate funds in six months, while Egypt launches its third fund in Q3
Innoventures aims to increase the fund’s capital to EGP 100-200m
Pound’s flotation failed to support money market funds and fixed income funds in the last two months of 2016
Germany and Korea to finance construction of 5 water desalination plants in South Sinai and Borg El-Arab airport expansion
The company is planning to promote the fund among investors from Gulf countries, besides local investors to ensure its shares will be sold
The head of the syndicate’s finance department is accused of embezzling EGP 260,000
We seek to establish strong companies with all institutions, in order to support the fund’s contribution to achieving sustainable development, says executive director
EU holds workshop with Egyptian ministries to implement TARES project
Flat6Labs is a regional programme established in 2011 by Sawari Ventures and the American University in Cairo (AUC) School of Business Administration to turn technology ideas into real projects.
Switzerland has opened criminal proceedings against the BSI bank, linked to the ongoing case involving Malaysia’s troubled state investment fund. Singapore’s central bank has also shut down BSI’s operations.