The government aims to raise USD5 billion during October 2023 to June 2024 through divestment from Bank of Alexandria and Vodafone, among other divestment plans including electricity and water desalination plants.

JP Morgan will review Egypt’s eligibility for its Government Bond Index-Emerging Markets (GBI-EM) series over the next three to six months, with the country’s sovereign bonds remaining in the index during the review period.

The EGX began allowing investors to trade treasury bills in the secondary market in a bid to boost trading. Traders traded EGP33.9 billion worth of t-bills during the first session on the secondary market yesterday.

Government sources said that the volume of goods currently piled up in the ports amounts to about USD4.8 billion.

EBRD has made a EUR30 million commitment to Malta-based impact investor Mediterrania Capital Partners’ fourth fund, which will invest in mid-cap companies in Egypt, Morocco, and Tunisia, as well as sub-Saharan Africa.

The Public Enterprises Ministry is in talks with aluminum manufacturer Aluminum Bahrain to build a factory in Safaga to produce bauxite, the raw material for aluminum, according to local press.

EGAL is planning to build a USD1.9 billion plant in Safaga. The factory will have an annual production capacity of 300k tons, 70% of which will be exported, and will include a bauxite production unit to lower production costs, according to local press.

The Public Enterprises Ministry is also in talks with aluminum conglomerate Emirates Global Aluminum (EGA) to establish a new aluminum plant outside of the Nagaa Hammadi aluminum complex, Abdel Ghani said.

HELI (FV: EGP18.84, OW) is studying developing 400 feddans at an investment cost of EGP4.0 billion.

ORHD (FV: EGP20.38, OW) Board approved selling 15.5 million treasury shares.

HRHO’s Corp-Solutions closed an EGP1.01 billion securitized bond issuance last week. 

SAUD has invested EGP300 million in developing its IT infrastructure.

ADIB’s micro-finance arm has received the FRA approval to issue its first shari’a compliant products, Murabaha and Musharaka.

Belcash, BTFH’s consumer finance arm, has rebranded to Seven as a part of the company’s broader efforts to revamp its NBFI offering.

Misr Digital Innovation Company, the first digital bank in Egypt, has received the digital license from the CBE and the approval of its main shareholder Banque Misr to raise its capital from EGP2.5 billion to EGP4 billion to provide liquidity that would enable the company to finance major companies. 

Weekly Commodities Update 

 |   | Last Price | WoW Change, %
| Brent, USD/bbl | 93.3 | -0.7%
| Diesel-HSFO Spread, USD/ton | 426 | -3.8%
| Egypt Urea, USD/ton | 430 | -5.5%
| Polyethylene, USD/ton | 1,070 | 0.0%
| Polypropylene, USD/ton | 948 | 0.0%
| Steel/Iron Ore Spreads, USD/ton | 359 | 0.0%
| LME Aluminum Cash Price, USD/ton | 2,201 | 2.5%
| Egyptian Retail Cement, EGP/ton | 1,985 | -1.5%
| Steam Coal FOB Newcastle Australia, USD/ton | 160 | -0.3%
| SMP, USD/MT | 2,286 | -2.0%
| Last price may vary week over week in some indices due to time difference