}

Egypt’s non-oil private sector downturn deepens in September: PMI

Egypt’s non-oil private sector businesses contracted in September as output and new orders declined sharply, with the S&P Global Egypt Purchasing Managers’ Index (PMI) falling to 47.2 from August’s seven-month high of 49.6.

Qalaa Holdings seeks EGP 9.5B debt waivers via capital increase

Qalaa Holdings plans to use proceeds from its capital increase to strengthen its capital structure and financial solvency while reducing the burden and risks associated with accumulated debt.

Elaraby Group, Malben Engineering pen JV agreement to manufacture automotive components in Africa

Egypt-based industrial conglomerate Elaraby Group has signed a joint venture agreement with South Africa-based automotive components manufacturer Malben Engineering to develop a shared production base serving Egyptian and African markets, as per a statement.

What will be the biggest catalyst for attracting institutional investors to Egypt’s IPO program on the EGX?