Oil Minister Karim Badawi met with CEO of US-based LNG solutions company Excelerate Energy Steven Kobos where they discussed leasing floating storage and regasification units to Egypt, sharing technical expertise, and LNG trade cooperation, according to a Ministry statement.

A high-level investment delegation has received preliminary approval to visit Iraq, unnamed sources said. 

The Holding Company for Food Industries intends to list a number of its subsidiaries on the EGX in the coming period.

Oil producer Capricorn Energy said it has reached a preliminary agreement with the EGPC to improve gas pricing to increase production, under terms aimed at boosting investment and production, along with updated commercial terms.

British company BP seeks to increase gas production in Egypt by approximately 160 million cubic feet per day, from two wells in the King Mariout and Fayoum concession areas in the deep waters of the Mediterranean Sea, in 2H25.

A government official said that the Ministry of Petroleum expects to receive four shipments of imported LNG during April. 

President Abdel Fattah El-Sisi approved a USD131 million loan agreement from the African Development Bank to help finance the first phase of the Private Sector Development and Economic Diversification Support Program, as part of the state budget support, according to a report published in the Official Gazette.

SWDY reported steady 4Q24 results with attributable earnings coming in at EGP4.2 billion (+106% YoY, -13% QoQ). FY24 attributable earnings surged to EGP17.5 billion (+73% YoY). SWDY board of directors proposed a cash dividend distribution of EGP1.00/share, implying a payout ratio of 12.3% and a dividend yield of 1.2%. SWDY is trading at FY25e P/E of 9.7x and EV/EBITDA of 5.5x.

EGAL signed a 25-year USD-denominated corporate Power Purchase Agreement with Scatec for a 1.1 GW solar plant and 200MWh battery energy storage system in Naga Hammadi backed by a sovereign guarantee. Scatec targets to reach financial close and start construction within the next 12 months. We expect the new plant to save around 10-15% of the company’s electricity cost which could contribute to increasing our FV by EGP20.00/share to EGP175.00/share. We remind you that electricity represents more than 40% of production costs and EGAL’s gross margin shrinks by 2-3% for every EGP0.25/kWh increase in electricity tariff, according to our calculations.

CIEB lowered its proposed 2024 dividend payout to EGP3.20/share, representing 50.2% of distributable profits, down from a previously planned EGP3.82/share, or 60% of distributable profits, according to a Board decision. The payout remains subject to the general assembly’s approval.

OLFI is to distribute cash dividends of EGP2.00/share for FY24 on 27 March 2025, for shareholders on record on 24 March 2025, implying a DY of 10.4%.

EFID’s BoD is considering the approval of doubling the company’s capital to EGP280 million. The proposed capital increase of EGP140 million will be distributed on 700 million shares and financed through the company’s retained earnings of FY23.