Hassan Allam Holding and ADP France have submitted a joint proposal to manage and operate Egyptian airports.

UAE-based EV infrastructure company Zero Carbon is currently undertaking feasibility studies ahead of a launch in the Egyptian market.

Egypt is planning to carry on importing liquefied natural gas until the country closes the gap between domestic production and consumption in either 2029 or 2030.

MPs are expected to give their final approval to a government-drafted cash-based subsidies bill aimed at supporting citizens living under the poverty line.

MPs are also set to decide on five draft agreements authorizing the Oil Ministry to partner with foreign companies for oil and gas exploration.

International financial institutions invested nearly USD890 million in Egypt’s private sector during November, with climate finance, SMEs, sustainable tourism, and renewable energy projects.

The General Authority for Investment and Freezones (GAFI) is working with the World Bank and relevant ministries to develop a national strategy for foreign direct investment from 2025-30, with the complete strategy to be announced in “the coming months”.

The Central Bank sold EGP60.4 billion worth of three-month t-bills with an average yield of 31.20%, up 0.28 percentage points from its last auction and surpassing the EGP40 billion target.

UAE company Green Coast aims to pump investments worth USD50 million into the Egyptian market over the next three years.

Finance Minister said that EGP10 billion due to pharmaceutical companies will be provided before the end of this year.

The Central Bank of Egypt will issue today one-year treasury bills denominated in foreign currency, worth USD900 million.

Egypt is looking forward to increasing the volume of German investments by 20% during the next year, to reach the range of USD3.6 billion.

We raised our FV for EFIC from EGP89.00/share to EGP165.91/share and maintain our Overweight recommendation of the stock. EFIC is currently trading at a 2025f PE of 4.7x and EV/EBITDA of 4.0x.

Egypt Gas announced signing the shareholder agreement to establish a company for producing polyethylene pipes with a total capital of EGP340 million. The Swiss company, George Fisher, will hold 74% of the new company, Egypt Gas will hold 25%, and the Emirati Corys company will hold the remaining 1%.

HELI (FV: EGP18.84, OW) shareholders voted to postpone the capital increase.

MASR (FV: EGP8.11, OW) signed an MoU with CCAP subsidiary, ASEC Automation, to construct the second phase of infrastructure and road networks in Sarai, with investments exceeding EGP580.0 million.

CIRA reported 4Q24 financial results. Bottom line recorded loss of EGP374 million in 4Q23/24. This brought FY23/24 net profit to EGP35.6 million, a decline of 71% YoY. CIRA is currently trading at FY24/25f P/E of 25.2x and EV/EBITDA of 7.6x.

DSCW reported 3Q24 results, showing net profit of EGP319 million (+105.1% YoY, -12.9% QoQ). This brought 9M24 net profit to EGP803 million, a growth of 1.9x YoY. DSCW is currently trading at 2025f P/E of 3.2x and EV/EBITDA of 3.6x.

OFH reported 3Q24 net loss of EGP1.5 million compared to net profit of EGP26.4 million in 2Q24 and net loss of EGP0.9 million in 3Q23, leading to a 9M24 net income of EGP2.4 million (-96% y/y).

Banque du Caire recorded a net profit during 9M24 of EGP8.6 billion (+90.2% y/y). 

The National Bank of Egypt recorded a net profit of EGP70.6 billion during 1H24 (+185% y/y).

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