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29

Mar 2021

Cargo Ship Blocking Suez Canal Partially Refloated

The efforts to refloat the cargo ship Ever Given, that has been blocking the Suez Canal for the last few days, have finally made partial, but crucial, progress. Later on today, the final re-aligning of the ship’s direction will be completed so that it is positioned directly in the middle of the navigable waterway. The ship will then move immediately to the Bitter Lakes waiting area for technical inspection. (Source: Reuters, Guardian, Egypt Today, Ahram Online, Mubasher, al-Youm al-Sabee, al-Masry al-Youm)    

29

Mar 2021

New Mega-Project In Northwestern Coastline

The President has announced that there are plans to establish a new national mega-project in the northwestern coast of Egypt, at the Dabaa Axis. The new project will be named the “New Delta,” and will involve establishing a new agricultural production zone covering an area of 1mn feddans. The President was briefed on the studies that have been conducted for this project, which showed that the land is ready for agricultural reclamation. The area that will constitute the New Delta project includes the “Mostaqbal Misr” and South Dabaa agricultural projects. After the briefing, the President ordered the immediate implementation of the project. (Source: Egypt Independent, al-Ahram, Akhbar al-Youm, al-Mal, Mubasher)

29

Mar 2021

Egypt Preparing To Produce Sinovac Vaccine

The Minister of Health discussed yesterday with the Chinese Ambassador to Egypt the upcoming arrival of a delegation of Chinese experts to inspect the production lines of Vacsera, the government’s vaccine production company, in preparation for the production of the Sinovac vaccine in Egypt. This comes after the WHO recently lauded the preparedness of Vacsera’s facilities. (Source: Mubasher, al-Dostour, Sada el-Balad)        

28

Mar 2021

EGAS (Egypt Gas) AGM Decisions

EGAS has approved, in its AGM (Annual General Meeting), the distribution of dividends of EGP1/share. (Source: Company Disclosure)    

25

Mar 2021

CBE Sets Up Fund To Finance Margin Trading

The Deputy Governor of the Central Bank of Egypt (CBE) has revealed that the CBE has established a EGP1bn fund to pump liquidity into the Egyptian Stock Exchange (EGX). He said that the liquidity allocated to the fund will be financed from allocations that were announced by the CBE last year worth EGP20bn to support the Egyptian financial markets. He added that the goal of the fund is to protect the stability of the EGX, as well as developing financial markets in Egypt. He also said that the EGP1bn allocated to the fund could be increased in the future as needed. (Source: al-Sharq Business News, al-Mal Newspaper)

25

Mar 2021

FY21/22 Budget Approved By Cabinet

The Cabinet has signed off on the draft budget for FY21/22, which will then be taken to the parliament for approval. The key highlights are: Overall deficit will decline to 6.6% vs. 7.8% in FY20/21 Primary surplus will increase to 1.5% vs. 0.9% in FY20/21 GDP will grow by 5.4% Revenues will increase by 16.4% to reach EGP1.3tn vs. EGP1.117tn in FY20/21, due to: Expanding the taxpayer base Implementation of electronic collection and payment systems Increase in the use of modern techniques to manage risks Investment spending will grow by 27.6% Export support and development spending will grow by 110% Wages will grow by 11.4% Spending on commodities will grow by 26% Commodities subsidies will reach EGP87.8bn vs. EGP83bn in FY20/21 The Insurance and Pensions Fund will be paid its annual installment of EGP180bn (Source: al-Mal, Hapi, Amwal al-Ghad, Arab Finance, Zawya)  

25

Mar 2021

Ship Stuck In Suez Canal

Egyptian authorities are working hard to re-float a super-sized cargo ship that has gotten stuck in the Suez Canal. The SCA (Suez Canal Authority) has announced that it has re-opened the old canal in order to divert traffic there. The cargo ship Ever Green set sail from China headed for Rotterdam. While passing through the Suez Canal, the ship ran aground and became lodged sideways, blocking navigation through the canal. The Chairman of the SCA attributed the accident to bad weather, specifically high winds, which negatively affected the ability to guide the ship. Eight tugboats are working to float the ship, and the Dutch marine services company Smit Salvage has also been hired to help with the operation. The ship is 400 meters long, 59 meters wide, and has a cargo capacity of 224,000 tons. It raises the flag of Panama, and is owned by the Taiwanese company Evergreen Marine Corporation. (Source: BBC Arabic, al-Youm al-Sabee, CNN Arabic, Ahram Online, Egypt Today, Associated Press, Reuters)

24

Mar 2021

FRA & CBE Agree To Establish Fund to Finance Brokerage Firms

    he FRA (Financial Regulatory Authority) and the CBE (Central Bank of Egypt) have agreed to set up a fund to finance brokerage firms. The goal of the fund is to increase liquidity in the Egyptian Stock Exchange and encourage new investors to enter the market, as well as increasing the solvency and financial capability of current investors.  (Source: Hapi Journal, al-Masry al-Youm Newspaper)

23

Mar 2021

IDH (Integrated Health Diagnostics) Dual Listing Receives FRA Approval

Integrated Diagnostics Holdings (IDHC.L), which is currently listed on the LSE (London Stock Exchange), has received approval from the FRA (Financial Regulatory Authority) for its plan to have a dual listing of the company’s shares on both the LSE and the EGX (Egyptian Stock Exchange). The listing is expected to be completed during 1H21, and the shares will be denominated in EGP. The listing on the EGX will not involve the issuance of new shares. The listing will be technical of nature, and is the first of its kind on the EGX. IDHC is a leading consumer healthcare company that owns and operates the al-Borg and al-Mokhtabar medical diagnostics labs network in Egypt, and also has operations in Jordan, Nigeria, and Sudan. It was the first Egyptian company to list on the LSE, back in 2015. The company has a market capitalization of over USD600mn. IDHC stated that “the listing will give Egypt-based and regional investors as well as global emerging markets specialists, who are sometimes unable to access shares traded on the LSE, the opportunity to trade IDHC's shares and capitalise on the company's strong growth prospects in the fast-growing Egyptian and regional healthcare sectors.” This will allow IDHC to “build a larger pool of geographically diversified shareholders,” the company said. (Source: Company Disclosure, al-Mal Newspaper, al-Arabia News, Arab Finance Website)    

23

Mar 2021

Sinovac Vaccine Close To Being Produced In Egypt

The Minister of Health and Population, Dr. Hala Zayed, announced at a press conference with the Chinese Ambassador to Egypt that an agreement is expected to be signed soon with the Chinese vaccine producer Sinovac. The agreement will pave the way for the production of Covid vaccines in Egypt. The vaccines will be produced by the state-owned company Vacsera. The Chinese Ambassador echoed the Minister’s announcement, stressing the importance of continuing to strengthen the cooperation between China and Egypt in the production of the vaccines. The Ambassador confirmed the ongoing communication between the Chinese vaccine producers and Vacsera to begin vaccine production as soon as possible. The Minister mentioned that the WHO (World Health Organization) has already sent international experts to assess the performance of Vacsera’s production facilities in preparation for the commencement of the vaccine’s production in Egypt, as well as the exporting of the produced vaccines to African countries. (Source: al-Ahram Newspaper, al-Youm al-Sabee Newspaper, al-Masry al-Youm Newspaper, al-Shorouk Newspaper, al-Mal Newspaper)  

23

Mar 2021

Small Businesses Survey Predicts Economic Recovery This Year

VISA, the leading credit card issuer, has conducted a survey on the opinions of small business owners in Egypt regarding economic recovery from Covid. The study found that 72% of small businesses are optimistic about the recovery of their business from the adverse economic effects of Covid, crediting the rapid adoption of digital solutions in Egypt. The study also found that 50% of small business owners perceive digital payments as a key investment in the economic recovery, and 46% of the businesses surveyed said that their customers preferred digital payments over other payment methods. Some of the key findings of the study are that there has been a: 92% increase in the use of contactless payments 73% increase in takeaway orders 75% increase in home delivery Other findings of the study were that, of the small businesses surveyed: 24% of those that don’t already have an online presence plan to establish one 40% plan to offer digital prepayment and contactless payment methods 50% perceive the establishment of digital payments as a good investment 44% of those that only offer cash payment plan to acquire POS terminals within two years 88% expect that e-commerce will continue to grow in Egypt (Source: VISA Middle East)

22

Mar 2021

DSCW (Dice Sport & Casual Wear) To Hire Advisor To Prepare Fair Value Report

The FRA (Financial Regulatory Authority) has ordered DSCW to prepare a fair value report by 20 April 2021 in light of the unjustified drop in its share price since 22 February 2021. The FRA demanded that DSCW hire one of the financial consultants that are registered with the FRA to prepare the fair value report. In light of this development, the FRA has decided to continue the suspension on the trading of DSCW’s shares until they hire an independent financial consultant. The FRA’s order is based on a regulation in the Egyptian Stock Exchange’s rules for the listing and delisting of stocks. The regulation states that the FRA can require a listed company to submit a fair value report for their stock if there is a movement in one direction of more than 50% during a period no longer than three months, or a movement in one direction of more than 75% during a period no longer than six months. If this movement is not in line with the movement of the market’s indices or the stock’s sector, the company’s results, or material news that explain this movement, then the FRA has the right to demand a fair value report from the company. (Source: FRA Filing, Mubasher Website, al-Mal Newspaper, Hapi Journal, Enterprise)      

22

Mar 2021

Turkey’s Lira Tumbles

Turkey’s currency, the Lira, has dropped 14% against the U.S. Dollar after the President, Erdogan, relieved the Central Bank’s governor of his duties. The outgoing governor’s policies were regarded by the markets as instrumental in helping the Turkish Lira rise again from historic lows. This is the third central bank governor in under two years. The news of the governor’s removal hit the Turkish stock exchange with full force, where trading was suspended for a period due to the sharp falls in share prices, and raised concerns regarding Turkey’s costs of borrowing. (Source: Reuters, Bloomberg, BBC, The Guardian, Ahram Online, MarketWatch)        

21

Mar 2021

Ebtikar Acquires Additional 20% Stake In Bee

Ebtikar has raised its stake in Bee for e-payments to 80% a few days ago in a deal valued at around EGP40mn. The stake was acquired from Techno Beez. Al-Mal Newspaper reports that Ebtikar is currently studying conducting a share swap with Techno Beez for Technology to give the latter a stake in Ebtikar. This follows Vodafone Egypt’s acquisition of a 20% stake in both Bee and Masary, both of which are owned by Ebtikar, through a capital increase. The Vodafone deal will pave the way for Bee and Masary to expand in the African market. Ebtikar is planning to list on the Egyptian Stock Exchange in 2H21. Ebtikar is a joint venture between MM Group (MTIE) and B Investments (BINV). (Source: al-Mal Newspaper, Enterprise)  

21

Mar 2021

Central Bank of Egypt (CBE) Leaves Interest Rates Unchanged

The CBE’s Monetary Policy Committee (MPC) decided to hold the overnight deposit and lending rates unchanged at 8.25% and 9.25% respectively, and the main operation and discount rate at 8.75%. The CBE’s rationale was that keeping policy rates unchanged will contribute to achieving their inflation target of 7% (±2 percentage points) by 4Q22, and maintain price stability in the medium term. The CBE said in their statement that “most leading indicators are gradually recovering to their pre-pandemic levels. Meanwhile, the unemployment rate broadly stabilized at 7.2% during 4Q20 compared to 7.3% during 3Q20, after improving markedly from the 9.6 recorded during 2Q20 due to the sustained improvement in employment levels.” (Source: CBE Press Release, al-Mal Newspaper, Mubasher, Enterprise)

21

Mar 2021

Pharma Imports Rise

The Central Agency for Public Mobilization and Statistics (CAPMAS) stated in its most recent report that Egypt’s imports of medicines and pharmaceutical preparations increased by 10.5% during 2020 to reach USD2.8bn. In December 2020, the increase was 13.7% compared with the same month of the year before. Notable in the report was that Egypt’s imports of pharmaceutical products from Saudi Arabia increased by 379% to reach USD48mn.  (Source: Souq al-Dawaa Website, Amwal al-Ghad Newspaper)    

18

Mar 2021

New Cigarettes Manufacturer

The government is looking to issue a license for cigarette manufacturing (conventional and e-cigarettes) in Egypt, according to confirmed news reports. The bidding conditions include the following key points: Eastern Company (EAST) will own 24% of the new company The facility should have minimum annual production of 15bn sticks If the new company wants to produce lower-tier, mass-consumed cigarettes (priced at EGP18-24/pack), they have to be priced at a 50% premium to EAST’s own brands in the same category Interested bidders can submit an offer in 30 days Existing and new players can bid for the license No additional licences will be offered for 10 years from the date of granting this one (Source: Mubasher, al-Borsa Newspaper, Masrawy, al-Shorouk Newspaper)

18

Mar 2021

Trade Deficit Shrinks In 2020

The trade deficit declined by 8.4% in 2020 to USD42.0bn, down from a deficit of USD45.9bn in 2019. This comes as total exports fell 9.5% to USD27.6bn in 2020 from USD30.5bn in 2019, while imports also declined 8.9% to USD69.6bn from USD76.4bn in 2019. (Source: al-Mal Newspaper)

17

Mar 2021

مساهمون بشركة غاز مصر يطالبون بتقييم سعر السهم.. وترشيح ممثل للأقلية

تقدم مساهمو الأقلية بشركة غاز مصر، بعدة مطالب لإدراجها بالجمعية العامة العادية للشركة المقررة يوم السبت الموافق 27 مارس الجاري، وتصدرت قائمة المطالب إدراج بند للموافقة على تقييم سهم غاز مصر في ظل التغيرات التي طرأت على استثمارات الشركة، وذلك عن طريق إحدى الشركات المقيدة والمرخص لها من الهيئة العامة للرقابة المالية.   وبرر المساهمون، سبب طلب تقييم سهم غاز مصر، إلى وجود استثمارات مباشرة وغير مباشرة للشركة في أكثر من 35 شركة تعمل في الغاز الطبيعي لم تكن محل اعتبار في الغالب الأعم عند تقييم سعر السهم؛ نظراً لإخفاء تلك المساهمات، ولا سيما أن بعض هذه الاستثمارات مدرج في القوائم المالية للشركة، وفقًا للقيمة التاريخية لها وليس للقيمة العادلة، وهو الأمر الذي سيؤتي ثماره على كافة المساهمين حال تقدير تلك الاستثمارات على النحو الصحيح، منوهة إلى صدور أحكام قضائية طالبت الشركة بهذا الأمر منها الحكم الصادر في الدعوى رقم 557 لسنة 10 ق مدني مستأنف اقتصادي القاهرة.   كما طالب المساهمون، بحسب صورة من المذكرة المقدمة لشركة غاز مصر، حصلت "اليوم السابع" على نسخة منها"، بإدراج بند توزيع الأرباح المقترحة للمساهمين لتصل إلى مبلغ 78 مليون جنيه، وبذلك يصبح الكوبون للمساهمين قدره 1.625 جنيه للسهم، وذلك في ضوء أحكام القانون والنظام الأساسي للشركة، وبما يتوافق مع البنود الواردة في الميزانية المفصح عنها، وطالب المساهمون كذلك بإدراج بند للموافقة على ترشيح  المهندس محمد عبد الله معوض أحمد رئيس مجلس إدارة شركة كولدويل بانكر-مصر ونائب رئيس مجلس إدارة شركة أكيومن القابضة، ممثلًا عن مساهمي الأقلية، إعمالًا لقرار هيئة الرقابة المالية، بوجوب استخدام نظام استخدام التصويت التراكمي داخل اجتماعات الجمعية العامة للشركات، لممارسة الحوكمة الرشيدة لتنمية ورفع كفاءة الأسواق، والحد من الكثير من المنازعات ذات الصلة، من خلال تمكين مساهمى الأقلية من تركيز أصواتهم ومنحها لأحد المرشحين؛ لضمان وجود ممثل لهم داخل هذا المجلس، ومن ثمّ المشاركة الفعالة فى إدارة الشركة على النحو الذى يحقق مصالحهم.   وبحسب إفصاح سابق لشركة غاز مصر، فأنه من المقرر أن تنظر الجمعية العامة العادية للشركة تقرير مجلس الإدارة عن نشاط الشركة خلال السنة المالية المنتهية في 31 ديسمبر عام 2020، وتقرير مراقبي حسابات الجهاز المركزي عن القوائم المالية للشركة عن السنة المالية المنتهية في 31 ديسمبر عام 2020، تقرير مراقب حسابات الشركة عن القوائم المالية وتقرير الحوكمة للشركة عن السنة المالية Return to list المنتهية في 31 ديسمبر عام 2020، المصادقة على القوائم المالية وتقرير مجلس الإدارة وتقرير الحوكمة عن السنة المالية المنتهية في 31 ديسمبر عام 2020، والنظر في اقتراح مجلس الإدارة بشأن توزيع أرباح الشركة السنة المالية المنتهية في 31 ديسمبر عام 2020 والموضوعات ذات الصلة.   كما تناقش الجمعية إخلال مسئولية مجلس إدارة الشركة عن السنة المالية 2020 والمصادقة على ماقام به من أعمال خلال العام، تحديد بدلات أعضاء مجلس الإدارة عن العام المالي 2021، والموافقة على تجديد تعيين مراقب حسابات الشركة وتحديد أتعابه عن السنة المالية المنتهية في 31 ديسمبر عام 2020، والنظر في الترخيص لمجلس الإدارة بالتبرعات خلال عام 2021، والموافقة على تفويض مجس الإدارة في إبرام عقود معاوضة طبقًا لنص المادة رقم 99 من القانون رقم 159 لسنة 81 ولائحته التنفيذية، والموافقة على تحويل رصيد احتياطي إسكان العاملين ورصيد احتياطي ارتفاع أسعار أصول إلى رصيد الاحتياطى العام. اليوم السابع

17

Mar 2021

No New Taxes After Minimum Wage Increase

Mohamed Maait, Egypt’s Finance Minister, has denied that the government intends to impose new taxes. He also said that there are no plans to increase current tax rates after increasing the minimum wage. In a TV interview, Maait stated that the government will collect more taxes by expanding the base of taxpayers and improving the mechanism of collection. (Source: Egypt Today)

17

Mar 2021

Wage Increases For Government Employees

The Ministry of Finance announced the details of the wage increases for government employees, with budget allocations of EGP37bn for FY21/22. The national minimum wage (grade 6 on the civil service employment scale) will increase from EGP2,000/month to EGP2,400/month. As for the higher grades, they will see their wages increase by 20%. (Source: Mubasher, al-Borsa Newspaper)

17

Mar 2021

Banks Interested In The New Futures Exchange

The National Bank of Egypt, Banque Misr, Banque du Caire, and United Bank are reportedly interested in owning a stake in the new futures exchange. Some of the banks that are clamouring for a stake have expressed their desire to own more than 5% of the exchange. The regulations set the maximum ownership for each institution at 10%. (Source: al-Mal Newspaper)  

16

Mar 2021

ORAS (Orascom Construction) & SWDY (el-Sewedy Electric) Among Winners Of Energy Production Project

Orascom Construction and a subsidiary of el-Sewedy Electric are among the winning entities of phase one of a project to produce energy from waste worth USD375mn. The Ministry of Environment recently announced that eight out of a total of 93 private companies have won the first phase. The project is part of the Ministry’s plan for the private sector to join the government’s new waste management system, and give it the opportunity to implement various projects including: i) power plants, ii) waste recycling, iii) intermediate stations, and iv) the establishment of advanced landfills. The Ministry is currently working on completing feasibility studies for the first phase of the project, and evaluating all operational steps to: i) ensure the success of the waste disposal experiment in the governorates, and ii) achieve the highest sustainable economic and environmental benefit. Phase one will incorporate seven governorates, including al-Gharbia, as the establishment of factories that produce energy from waste has begun in governorates that do not have a desert background. The government’s new waste management system will cost around EGP18bn. This includes EGP10bn for the system’s infrastructure, which involves establishing 103 intermediary stations to collect and sort the waste and 57 waste recycling factories, as well as 71 environmentally-friendly landfills. (Source: al-Mal Newspaper)

16

Mar 2021

Egyptian Expatriate Remittances Grow

Remittances into Egypt grew by 10.5% YoY to record USD29.6bn in 2020, up from USD26.8bn during 2019, according to the CBE. For the final quarter of the year, remittances reached USD7.5bn, up 8% YoY and down 7% QoQ (versus 3Q20 when remittances reached a record high of USD8bn). The data also showed that remittances during 3Q20 (October to December 2020) increased to USD7.5bn versus USD7.0bn in same period last year. Based on the latest indications, remittances in 2020 are one of the highest in the country’s recorded history. This is in complete contrast to post-Covid concerns of an expected steep slowdown in remittances due to job losses for expatriates living in the GCC. This is good news from a balance of payments perspective, as remittances provide the biggest cushion against Egypt’s trade deficit, which amounted to USD26.5bn in FY19/20. (al-Mal Newspaper, Hapi Journal, al-Arabeya News, al-Ahram Newspaper)

16

Mar 2021

Ceramics & Porcelain Producers To Get Funds Under CBE Initiative

The accumulated debt owed to The Egyptian Natural Gas Holding Company from ceramics and porcelain producers will be addressed by the CBE, which will put aside EGP1.2bn from the financing initiative dedicated for the construction, building materials and agricultural sectors (which totals EGP100bn), at interest rate of 8%, for ceramics and porcelain producers who want to reschedule natural gas debt. This could be seen as good news for local ceramic manufacturers, as the CBE is now willing to finance the down payment of 25% of natural gas arrears payable by ceramic producers to the Ministry of Petroleum. The remaining 75% of natural gas arrears would be repaid over 10 years at a subsidized interest rate of 8%. In addition, there would be a 50% reduction in the late payment penalty fees. The announcement comes as a positive move for the ceramics industry, which supposedly accounts for 55% of the private sector’s gas arrears to the government. The move, which was approved by the cabinet earlier during the year, has been made with the aim of increasing development and boosting production. (Source: Hapi Journal, al-Borsa Newspaper)

15

Mar 2021

EGAS (Egyptian Natural Gas Holding) Signs 9 Natural Gas Exploration Agreements Worth USD981mn

While chairing the General Assembly of the Egyptian Natural Gas Holding Company (EGAS), the Minister of Petroleum and Mineral Resources, Tarek el-Molla, said that Egypt has become more credible in the oil and gas sector after successfully settling arbitration cases with international companies recently. He also said that this marks a new zero-debt phase for the industry. EGAS’s chairperson, Magdy Galal, announced that 9 new gas exploration agreements have been signed to drill 18 exploration wells, with total investments worth USD981mn. He said that 2 exploration wells have already been drilled, and a 3D seismic survey has been conducted in the Western Mediterranean over an area totalling 18,000 km2. Furthermore, he said that 3 projects to develop natural gas fields have been completed and 4 new wells have been linked to production. As well, he mentioned the re-opening of the Damietta LNG plant after 8 years of not operating, with 3 shipments already exported through it. On a related note, he also stated that the company will be delivering natural gas to 2.1mn residential units this year, bringing the total number of deliveries since July 2013 to about 6.5mn units. This marks a steep increase in deliveries compared to the 5.5mn deliveries performed since natural gas was first delivered to homes 33 years ago. (Source: Egypt Today, Daily News Egypt)

15

Mar 2021

Saudi Businessmen Plan To Invest USD2.5bn In Egypt

Saudi businessmen Hassan el-Sharbatly and Fahd el-Shobokshy announced that they plan to invest around USD2.5bn in Egypt over the next 5 years. The announcement came after they met with the Prime Minister. During the meeting, the businessmen reported on the current status of the Saudi Sharbatly Group’s investments in Egypt, where they have invested around USD2bn during the last 15 years. They also discussed their future plans to increase these investments. The Sharbatly family is an investor in a wide range of sectors in Egypt and is the driver behind City Stars Mall operator Golden Pyramids Plaza. The Shobokshy family has a stake in Golden Coast Company and South Valley Cement. (Source: al-Arabiya News, al-Mal Newspaper, Mubasher News, Enterprise)

15

Mar 2021

CBE Launches Mortgage Initiative at Subsidized Rates

The President has instructed the CBE to launch a new initiative aimed at providing mortgages to low- and middle-income earners. The program will provide mortgage financing at a subsidized rate of 3%. It will also offer a 30-year repayment period. There are still no further details about the eligibility criteria, such as an income ceiling or a maximum value per transaction. CBE Deputy Governor Gamal Negm claimed that the CBE is earmarking a total of EGP100bn for the new initiative. (Source: al-Mal Newspaper, Hapi Journal, al-Borsa News)

14

Mar 2021

OCDI (SODIC) Receives Takeover Offer From UAE’s Aldar Properties

UAE’s Aldar Properties (Aldar) has submitted a preliminary non-binding offer for the potential cash acquisition of a majority stake in SODIC, implemented by a consortium controlled and majority-owned by Aldar. The offer for a minimum of 51% of SODIC is subject to due diligence, applicable regulatory approvals, and other conditions. Following a satisfactory outcome of the due diligence process, the Aldar-led consortium intends to make a mandatory tender offer in accordance with applicable laws and regulations. In its offer to SODIC’s board, Aldar stated that the indicative purchase price offered would be in the range of EGP18-19/share. The mid-point of the range values the company at EGP6.6bn (USD420mn) and represents a 14% premium to SODIC’s closing price on 11 March 2021. (Source: Company Disclosure, al-Mal Newspaper)

14

Mar 2021

CICH (CI Capital) Takeover by Banque Misr Successful

Banque Misr will get the 90% stake in CI Capital it sought after a majority of the company’s shareholders agreed to sell their shares for the EGP4.70/share offer lodged by the state-owned bank earlier last month, CI said in a disclosure to the EGX on Thursday. The tender offer, which wrapped up on Thursday, was 1.1x oversubscribed, with shareholders agreeing to sell 720.8mn shares. This is equivalent to 72% of CI Capital shares — more than the 65% stake targeted by the bank. But Banque Misr won’t buy them all. Banque Misr — which already owns a 24.7% stake in the company — will only purchase 653mn shares through the MTO, a source at CI Capital said, speaking on condition of anonymity. Following the acquisition, Banque Misr will own 90% of the company and the remaining 100mn shares will remain in free-float on the EGX, the source added. The transfer of ownership will be wrapped up within 5 working days, the source said. (Source: Company Disclosure, Enterprise, Hapi Journal)

11

Mar 2021

Fitch Maintains Egypt’s Credit Rating at B+

Fitch has stated that Egypt’s rating remains at B+, with a stable outlook going forward. The credit rating agency attributed the stable outlook to Egypt’s recent track record of fiscal and economic reforms that have allowed it to remain stable and resilient through the global Covid pandemic. Meanwhile, security and potential risks continue to weigh on the country’s rating. (Source: Fitch Ratings)

11

Mar 2021

Economic Growth Accelerates in 2Q20/21

Egypt’s economy grew 2% in 2Q20/21, accelerating from 0.7% the previous quarter, as the tourism sector contracted at a slower pace, Planning Minister Hala el-Saeed said during the cabinet's weekly meeting yesterday. Manufacturing and Suez Canal revenues — which had slumped due to the pandemic — also contracted more slowly than at the height of the pandemic in 1Q2/21, el-Saeed said. Growth during the first half of the fiscal year came in at 1.35%, a significant YoY drop from the pre-Covid 5.6% growth rate recorded in 1H19/20, the minister said. The economy is expected to grow 2.8% this quarter, which wraps on 31 March, and 5.3% in the final quarter of the fiscal year ending 30 June, according to el-Saeed. Logistics, agriculture, education, and healthcare continued to lead the rebound, achieving positive growth between July 2020 and January 2021, el-Saeed noted. Growth rates in these sectors accelerated YoY after the government eased Covid restrictions in July, she said late last year. As for inflation, the government expects the annual urban headline rate to average between 4.8% and 6.8% this fiscal year, el-Saeed said, while inflation figures released by state statistics agency Capmas yesterday showed a slight uptick to 4.5% in February from 4.3% in January. (Source: Enterprise) El-Saeed also said that government investments implemented during 1H20/21 rose by 28% on an annual basis. She said that government investments in Egypt amounted to EGP102bn during the period from July to December of 2020. (Source: Egypt Today) Another positive indicator that Minister el-Saeed mentioned was that the unemployment rate declined to 7.2% in 2Q20/21, compared with 7.3% in 1Q20/21. El-Saeed said that the rates eased as the economy gradually reopened after strict coronavirus lockdowns as well as some labor-intensive activities. (Source: Amwal Al Ghad)

10

Mar 2021

Banks Allowed to Perform Immediate FX Interbank Payments

The Central Bank of Egypt (CBE) has decided to allow local banks to execute and settle interbank payments in foreign currency instantly as of 22 March. The immediate settlement system will reduce the costs of the foreign currency payment orders between banks and speed up the process. The new system will also increase the CBE’s oversight over the transactions. (Source: CBE Decree, Al-Mal Newspaper)

09

Mar 2021

Sugar Import Ban Extended

The Trade and Industry Ministry has extended its ban on white sugar imports introduced in June for another three months. (Source: Government Decree, Al-Borsa News)

09

Mar 2021

FRA Approves Capital Increase for COMI (Commercial International Bank – CIB)

The Financial Regulatory Authority (FRA) has approved to publish the disclosure on the decision of the CIB’s board of directors to raise the bank’s issued and paid-up capital through issuance of 12.271mn shares at a nominal value of EGP10/share or a total value of EGP122.71mn. In another context, CIB said in statement that it has appointed Tarek Rouchdy as the independent director of the board. (Source: Mubasher)

08

Mar 2021

CI Capital Refuses Banque Misr’s Takeover Offer & Banque Misr Not Intending on Changing the Offer

CI Capital has rejected an offer by Banque Misr to acquire a 90% stake in the company. The state-owned bank last month made the offer at EGP4.70/share, valuing the company at EGP4.7bn, but in a disclosure submitted to the EGX yesterday, CI’s board of directors said that the offer was too far below the valuation reached by its financial advisor Baker-Tilly Wahid Abdel Ghaffar & Co. CI Capital’s shares closed yesterday at EGP4.58/share and have been trading in that band since Banque Misr said it wanted to hike its stake in the company to 90%. Sell-side analysts have set target prices for the share in the EGP5/share range, including EGP5.00 (Pharos), EGP5.20 (Prime) and EGP5.47 (HC). Banque Misr currently owns a 24.7% stake in the financial services firm and now wants to purchase an additional 653mn shares, giving it 90% ownership. Banque Misr became CI Capital’s largest shareholder last August when it acquired an additional 11% stake. CI is asking that the bank raise its offer price by 19% to EGP5.60/share if it wants to acquire a 90% stake. Baker Tilly’s fair value report priced the company’s shares at EGP5.60/share in case of acquiring more than 51% of shares, and at EGP5.73/share if buying up to 51%, valuing the firm anywhere between EGP5.6-5.73 bn. Al-Mal newspaper has reported that Banque Misr has no intentions to change the price for the purchase offer. (Source: Company Disclosure, Al-Mal Newspaper, Enterprise)

07

Mar 2021

Reinstatement of Capital Gains Tax on Treasury Bills & Bonds

The Egyptian government has removed income tax exemptions on returns on investments in treasury bills and bonds as well as capital gains, as published in the Official Gazette. The amendment received parliament approval in August 2020. (Source: Al-Mal Newspaper)

07

Mar 2021

Egypt Begins Vaccine Rollout to Wider Population

The first day of the COVID-19 vaccine rollout to the wider public saw 1,141 individuals get their first dose, the Health Ministry said in a statement on Thursday. A cabinet statement reported earlier that nearly 153,000 people have applied for vaccinations last week when the government opened online registration. Egypt received 350k doses of the vaccine developed by China National Pharmaceutical Group (Sinopharm) and 50k doses of the vaccine developed by AstraZeneca in February, both of which are used in the vaccination program. Those getting the Sinopharm jab have a second dose after 21 days, while those receiving the AstraZeneca vaccine will wait for 12 weeks for the second dose, Health Minister Hala Zayed said. (Source: Reuters, Al-Ahram Newspaper)

07

Mar 2021

Egyptian Drug Authority Approves Retail Sales of Covid Anti-Viral Treatment

  The EDA has approved the sale of COVID-19 Avigan generic drugs in pharmacies. Egyptian drug producers will now be allowed to distribute the antiviral COVID-19 treatment in pharmacies. The drugs are a generic form of a Japanese drug, and contain the active ingredient Favipiravir. The drug has shown positive clinical results in treating mild to moderate COVID-19 cases. EVA Pharma and EIPICO have announced the availability of the drug in pharmacies following the EDA’s decision. Eva Pharma’s drug is called Avipiravir, while EIPICO’s is called Epifluver. It is believed that other drug producers (such as Rameda) will announce the availability of the generic drug once they obtain the needed approvals. It is understood that many Egyptian producers have the capabilities to produce the generic in tablets form. The price of a 40-tablet dose has been previously announced to exceed the EGP1k mark. This is a positive decision for pharma manufacturers, with any windfall hard to quantify at this stage. (Source: Al-Borsa Newspaper, Souq Al-Dawa)

04

Mar 2021

Purchasing Managers’ Index (PMI)

  Non-oil private sector conditions worsened for the third consecutive month in February, but at a milder rate than the past two months as new exports supported demand, according to IHS Markit’s monthly survey of businesses. The purchasing managers’ index (PMI) gauge rose slightly to 49.3 in February from 48.7 the month before. The gauge remained below the 50.0 mark which separates expansion from contraction. New foreign business grew at its sharpest in nearly 10 years, helped by “a strong upturn in export demand.” The “upside” made February the slowest month of decline since a dip first seen in December due to the resurgence in covid-19 cases. Businesses said they got into more new contracts and witnessed a “slight” improvement in tourism activity last month. The pace of overall output contraction was only “modest,” and reflects what could shape up into a recovery as we head further into the year. The same applies to new sales, which dropped at a “less marked” rate compared to January. “Demand trends have moved closer to stabilisation, particularly as export sales picked up at a record pace … Further growth in exports should help improve overall sales … as the impact of the covid-19 pandemic subsides,” said IHS Markit economist David Owen. On the downside, firms are less optimistic about the next 12 months, with some citing the risk of permanently going out of business “due to the steep economic downturn caused by the pandemic.” Only 29% forecast growth this year, down from 40% last time around. Some responses “suggested that some businesses may fail before the economy makes a full recovery," Owen said. Input purchases continued to drop on the back of the fall in output and new orders, and businesses drew from existing stock, but only “marginally.” Renewed pressure on inventories first appeared in January, when firms held back purchases at the sharpest pace in four years. Most are citing growing input cost inflation, but at a rate that was the weakest since September 2020. This was led by metal commodities, primarily iron and steel. Some of it passed down to clients, yet “only fractionally overall.” Meanwhile, the employment gauge fell at its slowest rate in 16 months, IHS Markit said. This came as some firms continued to step up hiring due to an increased workload. (Source: IHS Markit, Enterprise)        

03

Mar 2021

Government Financing of Micro-Enterprises

Government Financing of Micro-Enterprises Egyptian Micro, Small and Medium Enterprises Development Agency (MSMEDA) pumped funds into micro-projects during the period from July 2014 to December 2020, at a value of EGP13.5bn, according to CEO of MSMEDA and Trade Ministry Nevine Gamea. Gamea added Tuesday that 1.24m micro-projects were funded during that period, providing more than 1.613m job opportunities. She stated that the agency succeeded in attracting a large number of donors to provide the necessary funding for the growth of this sector, in addition to expanding the number of banks and NGOs that the agency cooperates with, which helped it reach a greater number of citizens in the areas most in need to improve their standard of living and creating stable job opportunities through microenterprises. (Source: Egypt Today)  

03

Mar 2021

Factoring Companies Now Able to Finance Margin Lending

  Factoring Companies Now Able to Finance Margin Lending Egyptian factoring companies are now able to finance margin lending by brokerage companies under new regulations released by the Financial Regulatory Authority (FRA) yesterday. The move is meant to give brokerages access to new sources of funding and stimulate trading on the EGX. Eligible brokers are required to get approval from the FRA before engaging in margin lending. Allowing non-bank lenders to finance margin lending will likely be a welcome move for brokerages and industry associations, which have for years been seeking greater access to financing for the practice. Banks are typically reluctant to finance margin trading out of fear of turbulence in the stock market. (Source: Financial Regulatory Authority, Enterprise)

02

Mar 2021

Macro Group Pharma Intends to IPO 1-2Q21

Macro Group Pharma Intends to IPO 1-2Q21 Macro Group Pharma is set to become Egypt’s second IPO this year, after announcing overnight its intention to initiate an initial public offering (IPO) of its shares on the EGX in late 1Q21 or early 2Q21. The offering will see 49% of Macro up for grabs as shareholder Leo 1 sells 282.9mn ordinary shares in a secondary sale, meaning existing shareholders will offer part or all of their stakes to the public, and no new shares will be offered. The sale will include private offerings to both institutional investors in Egypt and abroad, as well as retail investors here at home. Expect to see indirect shareholders Enverson International Company, MEA Healthcare Partners, and Macro co-founder Ahmed El Nayeb among those selling down their positions in Macro through Leo 1, in which they each hold indirect stakes. Leo 1 is a special-purpose investment vehicle that holds 99.9% of Macro. Macro Group Pharmaceuticals (Macro Capital), the largest and one of the fastest growing cosmeceutical companies in Egypt. Established in 2005, Macro Group leads Egypt’s fast-growing cosmeceuticals space, with a market share of 23.1% recorded in 2020. The company’s EBITDA grew by a 2018-20 CAGR of 92% to EGP187mn in what was a challenging pandemic year, testament to the company’s defensive demand-profile, robust business model, and resilient growth strategy. Combined, these factors are expected to drive future growth in this new stage of its corporate evolution. Macro Group boasts a diversified portfolio of 125 marketed SKUs, which consists of 124 cosmeceutical SKUs across seven therapeutic areas and one nutraceutical SKU, which was launched in December 2020. While all of the company’s products are available over-the-counter (OTC), Macro also utilizes a prescription-based sales strategy and generates demand through an incentivized medical salesforce of over 550 employees that target physicians and pharmacies nationwide. 85% of sales are estimated to be initially generated via prescription at the physician level, underlining the defensive demand-profile of Macro Group’s business. Meanwhile, an advantageous regulatory framework enables the company to leverage its extensive in-house innovation capabilities, having developed an extensive pipeline of 79 products across a variety of high-growth, high-margin cosmeceutical and nutraceutical therapeutic areas, which are expected to be launched between 1Q21 and 2Q23. Macro Group is in the process of obtaining the required approvals and registrations related to the combined offering, including from the Egyptian Financial Regulatory Authority (FRA) and the EGX. Completion of the combined offering is expected to take place late 1Q21/early 2Q21, subject to market conditions and the timely receipt of the relevant regulatory approvals. (Source: Company disclosure, CI Capital, Enterprise)  

02

Mar 2021

Real Estate Registry Act Amendments Suspended for 2 Years

Real Estate Registry Act Amendments Suspended for 2 Years Amendments to the Real Estate Registry Act are now suspended for at least two years under directives from the President, according to an Ittihadiya statement. The two-year freeze is meant to allow time for public consultations on the legislation and the introduction of an alternative to the controversial 2.5% tax on the quick sale or disposition value of real estate assets. In the meantime, properties that get registered at the Real Estate Registry will be subject to a reduced fixed registration fee, which will be determined based on the size and type of property. Cabinet will now prepare a draft bill for this interim period that would set the fees and other procedures, Justice Minister Omar Marwan said. Property owners with “older” contracts (the exact definition of which will also be specified in the forthcoming bill) will be able to register their properties if they want to during this two-year period and pay the fixed fee, which Marwan said will be affordable to all. This bill will be expedited and must be sent to the House of Representatives before Saturday, 6 March, when the original amendments to the Act were due to come into effect, Marwan said. The Real Estate Registry Act will also be amended again over the course of the next two years, Marwan said. It has not yet been decided whether the 2.5% tax will be lowered in the reworked bill, and this remains an issue for the Finance Ministry to decide. (Source: Ittihadiyya Statement, Enterprise)

01

Mar 2021

Auto Vehicle Sales Rise YoY in January 2021

Auto Vehicle Sales Rise YoY in January 2021 Auto sales had a better start to the year than they did in 2020. Passenger car sales soared 71% YoY in January, with nearly 14.9k vehicles sold during the first month of the year, according to figures from the Automotive Information Council (AMIC). On a monthly basis, however, sales decelerated from 20k passenger vehicles sold in December 2020. Bus and truck sales had mixed results. Truck sales rose 48% YoY to 3.7k, from 2.5k in the same month in 2020. This is a steep fall from 4.5k trucks sold in December 2020. Bus sales were down both YoY (-23%) and MoM (-24%) with 1.9k units sold. (Source: Enterprise)  

01

Mar 2021

Real Estate Registry Tax Amendments Might Be Postponed to the End of the Year

Real Estate Registry Tax Amendments Might Be Postponed to the End of the Year Controversial amendments to the Real Estate Registry Act look like they will be introduced at the end of December instead of this coming Saturday, after the Madbouly Cabinet submitted proposed legislative amendments allowing the prime minister to postpone the changes coming into effect, according to a statement. The House of Representatives will put the proposed postponement to a discussion later today, after receiving preliminary approval from the Constitutional Affairs Committee yesterday, committee undersecretary Ali Badr told Ala Mas’ouleety’s Ahmed Moussa. New changes will likely be introduced to the bill to no longer make getting access to basic utilities contingent on paying the 2.5% property disposal tax. Until the bill receives a final vote, the property disposal tax will not be applicable to any properties that are registered, Real Estate Registry head Gamal Yacout explained to Moussa. And if your property is already connected to basic utilities, there’s nothing forcing you to register your property, since the bill does not retroactively revoke utility access, Yacout explained to Kelma Akhira’s Lamees El Hadidi. If you want to change the name that shows up on your electricity bills, however, you will need to go through the registry process, Cabinet spokesperson Nader Saad told Lamees. The levy can be paid in installments, Saad said. Only 5% of apartments and other properties across the entire country are actually registered at the Real Estate Registry, Justice Minister Omar Marwan told El Hekaya’s Amr Adib. (Source: Enterprise)  

28

Feb 2021

ANFI (Alexandria National Company for Financial Investments) Acquisition Bidding War

 ANFI (Alexandria National Company for Financial Investments) Acquisition Bidding War   The UAE branch of Hong Kong’s Zeta Investment has submitted an offer to acquire 90% of brokerage house Alexandria National Company for Financial Investments’ (ANFI) shares at EGP5.48/share, the Financial Regulatory Authority said in a statement last week. This offer values the company at around EGP25.8mn. The regulator is currently studying the offer. Zeta had previously offered to purchase the shares at EGP5.51/share according to a disclosure by ADIB, valuing ANFI at more than EGP25.9mn, shareholders El Kahera El Watania Investment (KWIN) and the Abu Dhabi Islamic Bank said earlier this month. And it’s a substantially weaker bid than what others have offered. A group of investors including Egyptian businessman Ahmed El Saba and Saudi Arabia’s Mostafa El Humeidan, have offered to acquire 75-90% of the company for EGP7.48/share, and were given the green. light by ANFI to start due diligence last week. The company also received offers of EGP5.30/share from Kayan Sustainable Development, and EGP5.50/share from Zaldi Capital. ADIB is looking to exit both ANFI and Assiut Islamic Trading, which it considers non-core businesses. The Gulf lender owns almost 85% of ANFI, holding 9% directly and the remainder through its KWIN and ADI Lease subsidiaries. (Source: Enterprise)  

28

Feb 2021

SFE to Invest 10% in ADQ’s (Abu Dhabi Sovereign Wealth Fund) Acquisition of Amoun Pharma

  SFE to Invest 10% in ADQ’s (Abu Dhabi Sovereign Wealth Fund) Acquisition of Amoun Pharma The Sovereign Wealth Fund of Egypt (SFE) is reportedly going to join Abu Dhabi’s sovereign wealth fund ADQ in its bid to acquire 100% of Bausch Health’s unit in Egypt, Amoun Pharma, sources close to the matter reportedly told Hapi Journal. The SFE is reportedly looking to have a 10% stake in Amoun when the transaction is completed. While the fair value assessment has yet to be completed, the sources said that the entire transaction is valued at USD700mn. The two funds are expected to complete due diligence in two weeks’ time, the sources note. The transaction is likely to be done through a USD20bn investment platform Egypt and Abu Dhabi set up back in 2019 through their sovereign wealth funds. SFE and ADQ were expected to announce a number of new joint investments in 1Q21, Planning Minister Hala El Said had announced last month. (Source: Enterprise)

28

Feb 2021

Citizens & Residents Above 40 or With Chronic Illness Can Now Register for the Vaccine

  Citizens & Residents Above 40 or With Chronic Illness Can Now Register for the Vaccine Citizens, foreign residents, diplomats, and refugees currently in Egypt who are above the age of 40 and/or suffering from a chronic illness can now register for their covid-19 vaccine shot on the website the Health Ministry set up for vaccine registrations. The website, which became operational at midnight, asks those signing up for the vaccine to provide personal information, depending on which group they fall into. (Source: Enterprise)

25

Feb 2021

Prime Speed to Import Covid Vaccine Sputnik V

Prime Speed to Import Covid Vaccine Sputnik V   Prime Speed Medical is set to become the first private sector player in Egypt to import Covid-19 vaccines with an initial agreement for 10 million doses of Russia’s Sputnik V. Prime reached an initial agreement following negotiations between the Egyptian Medicines Authority and the Russian Sovereign Wealth Fund, according to a press release seen by Al Mal. The imported jabs will be distributed by government officials. The agreement comes on the heels of Sputnik V getting authorization for emergency use in Egypt yesterday. (Source: Enterprise)    

25

Feb 2021

Delta Sugar Company Chairman Announces That Egypt Will Be Self-Sufficient In Sugar Within 3 Years

Delta Sugar Company Chairman Announces That Egypt Will Be Self-Sufficient In Sugar Within 3 Years Egypt has achieved a quantum leap in sugar production, Chairman of the Delta Sugar Company Ahmed Abu Al-Yazid said. Abu Al-Yazid added that Egypt's current sugar production amounts to 2.7 million tons. “Egypt's sugar production suffices 90% of the country's need, and it is expected to achieve self-sufficiency within 3 years in light of the development of sugar factories,” he added. (Source: Egypt Today)

25

Feb 2021

Minister of Finance Denies Imposition of New Taxes on Real Estate Sales

Minister of Finance Denies Imposition of New Taxes on Real Estate Sales The Minister of Finance has denied reports about imposing a new tax on the sale of real estate, stating that the tax imposed on the sale of real estate was reduced from 5% to 2.5% in 1996 to lift the burden on citizens. All properties located in villages or its affiliated areas, real estate assets that were inherited before 25 July 2018, assets presented as in-kind shares in joint-stock companies, and properties given as authenticated gifts will not be subject to the levy. (Source: Enterprise)  

31

Mar 2019

عمومية غاز مصر توافق علي تشكيل لجنه لتقييم الاستثمارات بالقيمة العادلة

وافقت الجمعية العمومية لشركة غاز مصر والتي عقدت أمس الأحد وبطلبات شركة اكيومن لتكوين وإدارة محافظ الأوراق المالية وإدارة صناديق الاستثمار بالالتزام بمتطلبات معايير المحاسبة المصرية بشأن إعادة تقييم الاستثمارات المتاحة للبيع على اساس القيمة العادلة وأنه جارى دراسة الأمر بالتنسيق مع الشركات المستثمر فيها وفى ضوء متطلبات معايير المحاسبة المصرية وسوف يتم الافصاح عنها بمجرد الانتهاء من الدراسة وذلك فى خلال فترة ٣ شهور على الأكثر. الخبر من المصدر 

31

Mar 2019

مال وأعمال | غاز مصر تعتمد توزيع أرباح بقيمة 1.25 جنيه للسهم

أعلنت شركة غاز مصر (EGAS) عن اجتماع  الجمعية العامة العادية يوم السبت الموافق 30/03/2019.   وأضافت الشركة في بيان للبورصة المصرية اليوم الأحد 31 مارس 2019، أن الجمعية اعتمدت تقرير مجلس إدارة الشركة عن السنة المالية المنتهية 31/12/2018، واعتماد مقترح توزيع الأرباح وذلك بواقع 1.25 جنيه للسهم على دفعة واحدة أو أكثر حسب موقف السيولة بالشركة.

24

Feb 2019

أكيومن تتوسع إقليميا عبر فرع جديد بـ "أبو ظبي" مايو القادم

أكيومن تتوسع إقليميا عبر فرع جديد بـ "أبو ظبي" مايو القادم  

20

Feb 2019

مال وأعمال| لماذا انخفضت نسبة رأس المال السوقي في مصر مقارنة بالناتج المحلي؟

لقاء الأستاذة رانا عدوى مع المذيعة دينا سالم على قناة سي بي سي إكسترا ومناقشة حول السبب في انخفاض نسبة رأس المال السوقي في مصر مقارنة بالناتج المحلى  

30

Jan 2019

أكيومن تفوز بجوائز أفضل مدير استثمار في منطقة الشرق الأوسط وشمال أفريقيا ومصر من مؤسسة MENA FUND MANAGER لعام 2019

أكيومن لإدارة الأصول تفوز بلقب أفضل مدير إستثمار في منطقة الشرق الأوسط وشمال أفريقيا و لقب أفضل مدير إستثمار في مصر في إحتفالية توزيع الجوائز من  MENA FUND MANAGER لتقييم أداء مديري صناديق الإستثمار    تعلن شركة أكيومن لإدارة الأصول بإعتزاز عن فوزها بخمس جوائز من أصل إحدي وعشرون جائزة في حفل  MENA FUND MANAGER لتقييم أداء الصناديق و مديري الأصول في الإحتفاليه التي أقيمت  بالأمس في فندق ريتز كارلتون في دبي ، برعاية شركة مؤشر S&P Dow Jones Indicies التابع لS&P Global   الجدير بالذكر ان تلك الجوائز هي الوحيدة من نوعها في منطقه الشرق الأوسط و شمال أفريقيا و تعتمد علي مكافاة أفضل صناديق الإستثمار و مديرين الأصول في المنطقة من حيث التفوق الفعلي في الأداء علي المنافسين   وشملت القائمة التنافسية لكل فئة من فئات الجوائز الـ الإحدي وعشرين، من خمس إلى ستة صناديق استثمار أو مديرين أصول في منطقة الشرق الأوسط وشمال أفريقيا   وقد توجت أكيومن لإدارة الأصول والسيدة رنا عدوي بأربع جوائز وشهادة من الفئات التالية: - أفضل مدير للأصول في الشرق الأوسط وشمال أفريقيا - أفضل مدير للأصول في جمهورية مصرالعربية - أفضل صندوق أسهم في الشرق الأوسط وشمال أفريقيا في 2019 –من حيث أداء ثلاث سنوات للفئه اقل من  75 مليون دولار - صندوق مصر الخير - أفضل صندوق متوازن - صندوق مصر الخير - جائزة الإنجاز المتميز لفرد  – السيدة رنا عدوي رئيس مجلس إدارة شركة أكيومن لإدارة الأصول كانت لجنة التحكيم مكونة من تسع مديرين صناديق عالميين وإقليميين ذوي خبرة واسعة النطاق و كبار المديرين في الشركات العاملة في الاستشارات لمديرين صناديق الاستثمار في المنطقة بالإضافة الي الرئيس لشركة  بالشرق الأوسط S&P Dow Jones Indices  التابع لS&P Global   

30

Jan 2019

BEST ASSET MANAGER IN The MENA REGION AND IN EGYPT FROM MENA FUND MANAGER PERFORMANCE AWARDS 2019 - DUBAI

BEST ASSET MANAGER IN The MENA REGION AND IN EGYPT FROM MENA FUND MANAGER PERFORMANCE AWARDS 2019 - DUBAI Acumen Asset Management proudly announces the winning of 5  award categories out of 21 total award categories in the MENA Fund Managers Performance Awards ceremony held yesterday in the Ritz Carlton Hotel in Dubai, UAE that was sponsored by S&P Dow Jones Indices; a division of S&P Global. The 2019 MENA FUND MANAGERS AWARD “recognize and reward those fund and asset managers that have outperformed their peers over the last year.” The short list of each of the 21 category of awards included 5 to 6 leading funds and asset managers from the MENA region. Acumen Asset Management and its Chairperson took home 4 trophies and a certificate in the following categories: MENA ASSET MANAGER EGYPT ASSET MANAGER MENA EQUITY FUND OF THE YEAR - 3 YEAR PERFORMANCE < USD 75 million BALANCED FUND  OUTSTANDING ACHIEVEMENT BY AN INDIVIDUAL - Mrs RANA ADAWI ACUMEN ASSET MANAGEMENT  The judging panel was comprised of 9 extensively experienced Global and Regional Asset Managers, and top managers of the region’s leading funds’ advisory and consultancy firms and the head of the S&P Dow Jones Indices.    

05

Dec 2018

Mrs. Rana Adawi wins the award of "CEO of the Year" 2018

Mrs. Rana Adawi wins the award of "CEO of the Year" 2018 - Acumen Asset Management by Global Investor Group MENA Awards     

13

Nov 2018

الجهات المالكة يجب أن تسعى لتعظيم العائد عبر الاستعانة بالخبرة

  فى ظل اعتماد الكثير منها على موظفين غير مختصين  خبراء: إدارة الهواة لاستثمارات الجهات الحكومية تسبب ضغوطا سلبية على حركة البورصة  

02

Oct 2018

Mrs. Rana Adawi interview with Arab Finance - مقابلة السيدة رانا العدوي مع اراب فاينانس

                                                You can find it at the following link  يمكنك الوصول للخبر عبر هذا الرابط https://www.arabfinance.com/ar/news/details/videos/447190

17

Sep 2018

Forbes Announced Mrs. Rana Adawi as one of the "Most Influential Women 2018"

Forbes Middle East congratulates Mrs. Rana Adawi on her achievement for making it to the list of “The Middle East’s Most Influential Women 2018”.  About Forbes Middle East: Forbes Middle East is a leading source for reliable business news and financial information.

09

Sep 2018

Acumen Asset Management wins an award by "International Business Magazine (IBM Award 2018)"

Acumen Asset Management has won the award of IBM "Best Asset Management Company Egypt 2018" by International Business Magazine UAE.   About IBM International Business Magazine is a UAE based pioneer Journal striving hard in line to carve a niche in already fierce competitive world of Business and Financial Award Journals.

16

Jul 2018

Mrs. Rana Adawi awarded "Best Asset Management CEO – Egypt 2018"

Mrs .Rana Adawi, Acumen Asset Management’s Chairperson, has been awarded the “ Best Asset Management  CEO – Egypt 2018 “ by well-renowned  International Finance Magazine in the UK  حصلت الأستاذة رانا عدوي على جائزة افضل مدير تنفيذي لشركة ادارة اصول في مصر عن عام 2018 من مجلة انترناشونال فينانس في المملكة المتحدة http://awards.internationalfinance.com/award-winners/winners-of-leadership-awards-2018  

08

Jul 2018

Misr Alkhair Fund at the forefront of balanced funds in Egypt

صندوق مصر الخير فى صدارة الصناديق المتوازنة  خلال  النصف الاول من 2018 - Misr Alkhair Fund at the forefront of balanced funds during the first half of 2018

25

Feb 2018

أكيومن تتربع علي عرش صناديق الإستثمار ب 3 جوائز - Acumen wins three awards at the MENA Fund Manager's Awards

  جريدة الوفد الأحد 25 فبراير 2018 https://alwafd.news/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF/1799694-%C2%AB%D8%A3%D9%83%D9%8A%D9%88%D9%85%D9%86%C2%BB-%D8%AA%D8%AA%D8%B1%D8%A8%D8%B9-%D8%B9%D9%84%D9%89-%C2%AB%D8%B9%D8%B1%D8%B4%C2%BB-%D8%B5%D9%86%D8%A7%D8%AF%D9%8A%D9%82-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D9%85%D9%86%D9%81%D8%B1%D8%AF%D8%A9-%D8%A8%D9%803-%D8%AC%D9%88%D8%A7%D8%A6%D8%B2  

16

Feb 2018

مجلة البوصلة الإقتصادية – عدد فبراير 2018 - Mrs. Rana Adawi, chairperson of Acumen Asset Management, talks about the size of the company's assets.

 مجلة البوصلة الإقتصادية – عدد فبراير 2018 2018 رانا عدوى رئيس مجلس إدارة شركة "أكيومن" لإدارة الأصول، تتحدث عن حجم الأصول التي تديرها الشركة، بنهاية 2017 و خطتها الطموحة والتوسعية خلال عام   Mrs. Rana Adawi, Chairperson of Acumen Asset Management talks about the size of the company's assets by the end of 2017 and its ambition and expanding plan 2018            http://alboslanews.com/%D8%A3%D8%B3%D9%88%D8%A7%D9%82-%D8%A7%D9%84%D9%85%D8%A7%D9%84/%D8%B1%D8%A6%D9%8A%D8%B3%D8%A3%D9%83%D9%8A%D9%88%D9%85%D9%86-16-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AC%D9%86%D9%8A%D9%87-%D8%A5%D8%AC%D9%85%D8%A7%D9%84%D9%89-%D8%A7%D9%84%D8%A3%D8%B5%D9%88%D9%84-%D9%88%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D8%AA%D9%89-%D8%AA%D8%AF%D9%8A%D8%B1%D9%87%D8%A7-%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A9-%D8%A8%D9%86%D9%87%D8%A7%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%85-%D8%A7%D9%84%D9%85%D8%A7%D8%B6%D9%89-2017-176347

11

Feb 2018

El Masry El Youm Newspaper 11.02.18

الرئيس التنفيذي والعضو المنتدب لبنك عودة محمد عباس فايد, يشيد بالأداء المتميز لشركة أكيومن, في إدارة صندوق إزدهار بعد فوز الصندوق بجاتزتي مؤسسة     MENA Fund Manager المؤسسة الإعلامية الدولية المرموقة الوحيدة المتخصصة في أخبار وتقييم  صناديق الاستثمار في الشرق الأوسط وشمال إفريقيا

05

Feb 2018

ادارة الاصول تعوض تراجع صناديق الاستثمار بالمحافظ الحكومية

قالت رنا عدوي؛ إن الأموال الحكومية المضخة عبرالمحافظ المالية التي طرحت خلال العامين الماضيين للإدارة بواسطة شركات إدارة الأصول نجحت في سد العجز الناتج عن إنخفاض أحجام الصناديق المختلفة. وأضافت إن شركات إدارة الأصول صبت مؤخرا كامل تركيزها علي إدارة المحافظ المالية نتيجة إرتفاع عوائدها مقارنة بصناديق الإستثمار، بجانب كبر أحجام تلك المحافظ، لاسيما الحكومية منها. وأوضحت إن شركتها نجحت خلال 2017 في إضافة محافظ مالية بقيمة 600 ألف جنيه، ليصل حجم الأصول المدارة بواسطة أكيومن ال 1.6 مليار جنيه، فيما تسعي الشركة الي إضافة محافظ مالية بقيمة مليار جنيه في العام الجاري

04

Feb 2018

اكيومن فى المقدمة

وعَبرت رنا عدوى رئيس مجلس إدارة شركة أكيومن لتكوين وإدارة محافظ الأوراق المالية وصناديق الاستثمار، عن فخرها بالإنجاز الذى حققته الشركات المصرية فى المحافل الدولية موضحة أن هذه الجوائز تعد «تتويجًا للأداء المتميز لشركات إدارة الأصول المصرية خلال 2017». وأوضحت أن نجاح أكيومن فى اقتناص أكبر عدد من الجوائز فى عام واحد منذ تدشين تلك الإحتفالية، يدعم تطلعاتها إلى مواصلة أدائها المتميز لتحقيق مزيدا من النجاح خلال 2018، مشيدة بفريق العمل بالشركة والذى يضم العديد من الخبرات والكفاءات الشبابية المميزة القادرة على تحقيق الخطط وتجاوز المستهدفات.  

20

Jan 2018

صناديق استثمار «أكيومن» تتصدر ترتيب الصناديق لعام2017

احتلت صناديق الاستثمار التي تديرها شركة «أكيومن» القابضة، صدارة ترتيب الصناديق الاستثمارية وفقاً لتقرير الجمعية المصرية لإدارة الاستثمار «Eima» الذي يقيس مؤشر أداء صناديق الاستثمار المصرية، وذلك لعام2017. وسجلت الصناديق التي تديرها الشركة متمثلة في صندوق مصر الخير بالمركز الصدارة في عام 2017، والأول في عامين، وثلاثة أعوام، و5 أعوام، وكذلك صندوق بنك عودة بالمركز الاول للعام الماضى، وكذلك في عامين وفي ثلاثة أعوام، وذلك بعائد استثمار39% أكدت رنا العدوي العضو المنتدب لـ«أكيومن» أن الاحترافية التي تتمتع بها الإدارة ساهمت بصورة كبيرة في تحقيق الصناديق للصدارة، علي مستوي شريحة الصناديق العاملة بالسوق. وقالت في تصريحات خاصة لـ«الوفد» إن الشركة تنتهج سياسة محترفة تساعد علي تحقيق أعلى العوائد بالنسبة للمستثمرين، بالإضافة إلى الرؤية المتميزة لمديري الاستثمار، والحرص دائما علي العمل بعنصر الاستباقية الذي يحقق صدارة الشركة، وهو ما يتم الحرص علي استمراريته وفقاً للاستراتيجية المعمول بها. https://m.alwafd.org/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF/1765648-%D8%B5%D9%86%D8%A7%D8%AF%D9%8A%D9%82-%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%C2%AB%D8%A3%D9%83%D9%8A%D9%88%D9%85%D9%86%C2%BB-%D8%AA%D8%AA%D8%B5%D8%AF%D8%B1-%D8%AA%D8%B1%D8%AA%D9%8A%D8%A8-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%AF%D9%8A%D9%82-%D9%84%D8%B9%D8%A7%D9%852017        

18

Jan 2018

رانا عدوى: "أكيومن" تدير اصول بقيمة 1.6 مليار جنيه وتؤسس قطاع جديد لإدارة أصول الأفراد

كشفت رانا عدوى رئيس مجلس الإدارة والعضو المنتدب لشركة " أكيومن " لتكوين وإدارة محافظ الأوراق المالية وإدارة صناديق الإستثمار عن حجم الاصول التي تديرها الشركة مشيراً الي ان اجمالي الأصول والإستثمارات لشركة " أكيومن " بلغ بنهاية 2017  نحو 1.6 مليار جنيه منها أكثر من 80% أموال تدار لشراء أسهم لشركات مقيدة في البورصة. وكشفت عن خطتها الطموحة والتوسعيه خلال عام 2018 والتى تستهدف التوسع فى إدارة الأصول للافراد ويأتى ذلك من خلال تأسيس إدارة أصول جديدة للافراد مستقله ومتخصصة  ولكن  تابعة لإدارة الشركة.   وأكدت رانا عدوى أنها تستهدف من الإدارة الجديدة تحقيق نحو 30 مليون جنيه أصول أفراد خلال العام الأول من تأسيسها وتأتى الخطوة للتوسع نحو إدارة أصول الأفراد لأن شركة " أكيومن " لتكوين وإدارة محافظ الأوراق المالية وإدارة صناديق الإستثمار معروفة ولها إسم كبير لدى البنوك والشركات الكبرى لذلك كان التوجه نحو التوسع فى إدارة أصول الأفراد.     Link: http://www.alboslanews.com/%D8%A3%D8%B3%D9%88%D8%A7%D9%82-%D8%A7%D9%84%D9%85%D8%A7%D9%84/%D8%B1%D8%A7%D9%86%D8%A7-%D8%B9%D8%AF%D9%88%D9%89-%D8%A3%D9%83%D9%8A%D9%88%D9%85%D9%86-%D8%AA%D8%AF%D9%8A%D8%B1-%D8%A7%D8%B5%D9%88%D9%84-%D8%A8%D9%82%D9%8A%D9%85%D8%A9-16-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AC%D9%86%D9%8A%D9%87-%D9%88%D8%AA%D8%A4%D8%B3%D8%B3-%D9%82%D8%B7%D8%A7%D8%B9-%D8%AC%D8%AF%D9%8A%D8%AF-%D9%84%D8%A5%D8%AF%D8%A7%D8%B1%D8%A9-%D8%A3%D8%B5%D9%88%D9%84-%D8%A7%D9%84%D8%A3%D9%81%D8%B1%D8%A7%D8%AF-174303

14

Jan 2018

صناديق الاستثمار تجنى ثمار التعويم فى 2017

  ❏ «مصرالخير» أول «المتوازنة» و«أروب مصر» فى مقدمة «النقدية» و«بشائر» قائد «الإسلامية» ❏ رنا العدوى: صدارة «مصر الخير» لفئته خلال 5 سنوات نجاح لـ«أكيومن»                   http://almalnews.com/Story/360646/11/-%D8%B5%D9%86%D8%A7%D8%AF%D9%8A%D9%82-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D8%AA%D8%AC%D9%86%D9%89-%D8%AB%D9%85%D8%A7%D8%B1-%D8%A7%D9%84%D8%AA%D8%B9%D9%88%D9%8A%D9%85-%D9%81%D9%89-2017--  

11

Jan 2018

صناديق الإستثمار... صناعة تواجه الإندثار- جريدة المال يناير 11-2018

من جانبها قالت رنا عدوي, العضو المنتدب بشركة أكيومن لإدارة الأصول, إن نمو وإنتشار صناعة صناديق الإستثمار تصطدم برغبة البنوك في عدم تأسيس صناديق جديدة أو المشاركة في صناديق لتأدية مهمة توزيع الوثائق وتحصيل قيمتها. وأضافت إن هناك شركات تأمين ترغب في تأسيس صناديق جديدة, إلا إنها تصطدم بطول الفترة الزمنية الخاصة بالحصول علي الموافقات اللازمة لبدء عمل صندوق إستثماري. وأوضحت إن هناك ضرورة لدخول مؤسسات وجهات أخري تقوم علي طرح الصناديق الإستثمارية بعيدا عن البنوك, مطالبة البنك المركزي والهيئة العامة للرقابة المالية  ببحث وضع صناعة الصناديق والعمل علي تطويرها

21

Dec 2017

اكيومن تستهدف رفع الأصول المدارة 60% خلال 2018

قالت رنا العدوى. العضو المنتدب بشركة اكيومن لادارة محافظ وصناديق الاستثمار  ان الشركة تستهدف رفع الأصول تحت الادارة بمليار جنية  خلال عام 2018

12

Nov 2017

رنا العدوى، العضو المنتدب لشركة «أكيومن» القابضة،تستعرض الجهود التى بذلتها الدولة المصرية فى مجال تمكين المرأة ضمن فعاليات بعثة الجمعية المصرية البريطانية للأعمال فى لندن

قالت رنا العدوى، العضو المنتدب لشركة «أكيومن» القابضة، أن فعاليات بعثة الجمعية المصرية البريطانية للأعمال فى لندن شهدت استعراض الجهود التى بذلتها الدولة المصرية فى مجال تمكين المرأة والتحديات التى تواجهها، مشيرة إلى أنه تم التأكيد على أن المرحلة المقبلة ستشهد مزيداً من اتاحة الفرص أمام الكوادر النسائية لتتبوأ المناصب القيادية بمختلف المؤسسات خاصة فى ظل توجيه القيادة السياسية بضرورة تدعيم وتمكين المرأة وهو ما اتضح من خلال إطلاق الرئيس عبد الفتاح السيسى بأن العام الجارى هو عام المرأة المصرية، وكذلك المبادرة التى يتبناها البنك المركزى بالتعاون مع المجلس القومى للمرأة لتوفير التمويل اللازم للمشروعات الصغيرة والمتوسطة التى تقودها النساء بنسب فائدة ميسرة   وأشارت إلى أنه كان هناك بعض الاستفسارات من الجانب البريطانى حول عدم وجود قاعدة نسائية كبيرة بالشركات العاملة فى قطاعات الصناعة والتصدير، موضحة أن الجانب المصرى أبرز أسباب ذلك باتجاه عدد كبير من النماذج النسائية للعمل بقطاعات الخدمات وليس التصنيع.   وشددت العدوى على أنه تم التأكيد على الجانب البريطانى بأنه لا يوجد تمييز بين الذكور والإناث فى ممارسة الأعمال وفقا لقوانين الاستثمار فى مصر، كما أن القطاع المصرفى يتيح الحرية لكلا الجنسين فى الحصول على التمويل اللازم للمشروعات من خلال مبادرة المشروعات الصغيرة والمتوسطة التى تتيح التمويلات اللازمة بنسبة فائدة لا تتجاوز الـ 7%. وتابعت أن هناك 3 عوامل رئيسية تدعم المرأة فى النجاح بالعمل والمساهمة بفاعلية فى خطط التنمية الإقتصادية وهى ضرورة منحها الحق فى التدريب والتعليم وكذلك إتاحة الفرصة لها فى حرية اختيار مجال العمل، بالإضافة إلى أن تتسم المرأة بالمثابرة فى العطاء.     http://www.almasryalyoum.com/news/details/1217137    

30

Jun 2017

MEK And Ezdehar Ranking

Misr Al-Khair Fund is ranked the first in 2017 till date: Achieving an Average Monthly Return of 17.4 %, to expectedly reach an Average Annual Rate of 34.7 % under a similar performance for the rest of the year. Ezdehar Islamic Fund ( Audi Bank ) is ranked the first in 2017 till date: Achieving an Average Monthly Return of 23.02 %, to expectedly reach an Average Annual Rate of 37.91% under a similar performance for the rest of the year.

07

May 2017

أكيومن القابضة: 5.9 مليار دولار استثمارات غير مباشرة منذ تعويم الجنيه

.طالبت رنا العدوى، العضو المنتدب لشركة "أكيومن" القابضة، بوضع قانون لتحفيز الاستثمار غير المباشر، الذى بلغ 5.9 مليار دولار منذ تعويم الجنيه فى الأسبوع الأول من نوفمبر الماضى وأضافت رنا العدوى، فى كلمتها بالجلسة الرابعة بمؤتمر "بورتفوليو إيجيبت"، الذى تنظمه شركة "المال جى تى إم"، اليوم الأحد، أنه حال استمرت نفس المعدلات، سيحقق ضعف عائد قناة السويس، ونصف عائدات التصدير، و3 مرات عائد السياحة، ولذا يجب أن تهتم الدولة به، بدلا من إصدار قرارات تؤدى لانكماشه، سواء بفرض ضرائب أو رفع معدلات الفائدة وأشارت العضو المنتدب لشركة "أكيومن" القابضة، إلى أن الحصة السوقية للبورصة المصرية تصل إلى 16% من الناتج المحلى الإجمالى، فى حين تبلغ ضعف تلك الأرقام بالأسواق المجاورة، وفى مصر يهتم القطاع الخاص حاليا بجذب الاستثمار غير المباشر، رغم أن الأقرب للحكومة جذب الاستثمار غير المباشر، مقارنة بالاستثمار المباشر، الذى يحتاج بنية تحتية وعمالة فيما اعترض يحيى أبو الفتوح، نائب رئيس البنك الأهلى، على دعوة العضو المنتدب لشركة "أكيومن" القابضة لتحفيز الاستثمار غير المباشر، قائلا: "الاستثمار غير المباشر له عيوب أيضا، أبرزها أنها أموال ساخنة، مثلما تدخل سريعا تخرج سريعا، ولهذا لا يمكن التخطيط عليها استراتيجيا، كما أن سعر الفائدة لا يؤثر كثيرا على الاستثمار غير المباشر، والدليل دخول استثمارات غير مباشرة كثيرة جدا خلال الفترة الماضية، ونحن نحاول علاج ارتفاع أسعار الفائدة من خلال إطلاق مبادرات، مثل مبادرة المشروعات الصغيرة والمتوسطة، والتمويل العقارى

02

Apr 2017

Mr.Salah Abou-Alam Board Member in Acumen Asset Management

اختارت "شركة أكيومن القابضة" صلاح أبوعلم مدير الإدارة المركزية للتفتيش بالرقابة المالية سابقًا ومستشار رئيس الهيئة الأسبق عضوًا بمجلس إدارة "أكيومن للمحافظ والصناديق" ومشرفًا على الرقابة الداخلية للشركة القابضة والشركات التابعة.  ويمتلك "أبوعلم" خبرة طويلة في أسواق المال والخدمات المالية غير المصرفية بداية من العمل بالمجموعة المالية هيرميس لمدة 9 أعوام ثم الانتقال إلى الرقابة المالية عقب ترشيحه من قبل الدكتور هاني سري الدين رئيس سوق المال الأسبق.  وأسهم "أبو علم" في تأسيس إدارة التفتيش بالرقابة المالية على الأسواق والشركات، والكشف عن العديد من مخالفات السوق التي أضرت بصغار المستثمرين.  وكانت شركة" أكيومن للمحافظ" قد حصلت على جائزة أفضل أداء من إنجلترا  https://m.alwafd.org/اقتصاد/1486750-صلاح-أبو-علم-عضوا-بمجلس-إدارة-أكيومن-للمحافظ    

28

Mar 2017

Acumen Gold Sponsor

Acumen Gold Sponsor at the American Chamber conference “Egypt’s New Investment Horizon: The Promise of Tomorrow” held on 28th March . The event, which was organized by AmCham investment and capital market committees, included four panel discussions that explored the private sector’s view of investing in consumer goods, real estate and private equity, among other topics. Sahar Nasr, Egypt’s minister of investment and international cooperation , delivered the key note speech and led the first panel “ Recent Updates: Egypt’s Investment Platform” . http://www.amcham.org.eg/events-activities/events/1067/egypts-new-investment-horizon-the-promise-of-tomorrow    

01

Mar 2017

The Most innovative Asset Manager

Acumen Asset Management has been awarded a trophy by Investor Review , a fund managers rating agency based in the UK , in recognition of Ezdhar’s exceptional performance in 2016 . The company was also recognized as “The Most innovative Asset Manager “. Ezdehar Islamic balanced fund was the best performing balanced fund in 2016 achieving the highest return among its peers. The fund is the best performing Islamic fund among all Islamic funds (balanced and equity funds) on both 2 years cumulative return and 3 years cumulative return as of Thursday the 28th of February .

19

Nov 2016

Acumen Funds ranking

Acumen Funds ranking No1 in performance for three consecutive years. Acumen managing Egypt’s Top performing balanced fund “El Kheir Fund” that ranked number one in cumulative performance for three years from 2012-2014. Acumen also managing Bank Audi’s Islamic fund “Ezdehar” ranking number one Top Performer in 2015 and first quarter 2016  

06

Nov 2016

Mrs. Rana Adawi recognized as one of The Top 50 Most Influential women in the economy of Egypt in 2015

Mrs. Rana Adawi founder and manager of Acumen Holding was recognized as one of The Top 50 Most Influential women in the economy of Egypt in 2015. Under the auspices of the Prime Minister Sherif Ismail, in a very large prestigious ceremony and for the very first time in Egypt, 50 most influential women in the  economy of Egypt were honored and awarded for their accomplishments and indispensable roles in various economic sectors. The Minister of Investment Ashraf Salman and the Minister of Industry Tareq Qabil were present to acknowledge The Top 50 Women and present them with the awards. Mrs. Adawi received her award in recognition of her outstanding performance and continuous success in her field of asset management for the past 22 years.   Rana Adawi Top 50 Award   Top 50 - Amwal Alghad meeting     

01

May 2016

Mrs. Rana Adawi Spokeswoman in Almal- GTM portfolio Egypt conference

Mrs Rana Adawi Spokeswoman in Almal- GTM portfolio Egypt conference  

27

Apr 2016

Acumen’s Assets under management 1.2 bln Egyptian pounds at end of March

Published Wednesday, 27 April 2016 16:59 | Written by Islam Salah & Gehad Abdel Ghany   Egypt-based investment bank, Acumen Holding’s assets under management stood at 1.2 billion Egyptian pounds at the end of March, chairperson of the AUM department said Wednesday. Acumen is running two investment funds in equities in addition to financial portfolios for some private and public-sector firms as well as state-run banks, said Rana Adawi, Chairperson of Acumen Asset Management, told Amwal Al Ghad on Wednesday. Acumen Holding is a company that provides financial solutions and investment ideas it provides both Asset management investments and security investment. Acumen Holding is a leading Egyptian investment bank established in 2010 with an authorized capital of 200 million pounds and a paid-in capital of 30 million pounds. The company has three subsidiaries: Acumen Asset Management, Acumen Securities & Brokerage, and Acumen Beltone Real Estate Fund Management.  

15

Dec 2015

We Moved!

 We are happy to announce that we have moved our office location in order to better serve our clients.  Our new location is: Sodic West - Polygon, Kilo 38 Cairo Alex. Road, Building 3, 5th Floor, office 5c, Cairo, Egypt   Telephone numbers:         + (202) 38 65-3336   -   + (202) 38 65-3337 - + (202) 38 65-3336    

01

Nov 2015

Private Pension Fund Meeting 2015

أستاذه رانا عدوى تشارك فى ملتقى المستجدات التشريعيه فى مجال صناديق التامين الخاصه لعام 2015  لاول مره السماح باسناد اداره اموال صناديق التامين الخاصه لشركات محافظ الاوراق الماليه https://www.efsa.gov.eg/content/efsa_ar/efsa_news/efsa_392.htm

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