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Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Egyptian for Tourism Resorts   0.69        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        Six of October Development & I   15.03        National Development Bank   6.72        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Credit Agricole Egypt   9.04        Palm Hills Development Company   1.61        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        Alexandria Spinning & Weaving    0.74        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        


EBRD, Bank Audi ink $30 million deal to boost SMEs in Egypt

Published 2016-02-11 13:29:17| Amwal Al Ghad English

The European Bank for Reconstruction and Development (EBRD) and Bank Audi – Egypt have signed a $30 million to support small and medium enterprises (SME’s) in Egypt. Although SMEs represent the majority of active private enterprises in Egypt and contribute 75 percent of total employment, access to finance remains a key concern and resolving this issue has become a top priority for the authorities. The EBRD credit line loan will help increase the availability of finance to small enterprises and will assist Bank Audi sae - Egypt to expand its SME lending activities in Egypt. Philip ter Woort, the EBRD Director for Egypt, said: “the EBRD considers SME’s as the backbone of the economy and we focus on strengthening them across all our countries of operations. We are pleased to partner with Bank Audi sae - Egypt to provide more finance to smaller enterprises and to help increasing job opportunities.” Hatem Sadek, Chairman and Managing Director - Bank Audi Egypt, said: “since the start of our operations in Egypt, Bank Audi sae was fully aware of the SME significance to the Egyptian Economy and Society leading us to establish a new strategic model serving this sector. Partnering with the European Bank for Reconstruction and Development will further enhance our strategy to grow especially in the SME segments.” Mr. Mohamed Fayed, Deputy Chairman & Managing Director - Bank Audi sae - Egypt, said: “SME’s growth is one of Bank Audi’s strategic objectives in which we are building a full business model enabling us to properly approach and finance this segment that would affect and reflect positively on the Egyptian economy and accordingly support the GDP growth, improve the employment ratio and build new business.” Mohamed Latif, General Manager of the Financial Institutions – Bank Audi Egypt, highlighted that this agreement is just the beginning of a long-term partnership in many aspects between the two institutions and that there are various aspects for further cooperation with EBRD. To date, the EBRD has invested more than €1.7 billion in Egypt in 33 projects (including regional ones) since it started working in the country at the end of 2012. The Bank’s investments include the natural resources sector, the financial sector, agribusiness, manufacturing and services as well as infrastructure projects such as power, municipal water and wastewater and contributions to the upgrade of transport services.
Financial Institutions
The investment portfolio of Wethaq Takaful Insurance -Egypt has increased to 273.55 million Egyptian pounds (US$34.9 million) at the end of December 2015, marking 3 percent growth. In comparison, the portfolio recorded 264.4 million pounds at the end of June 2015. Speaking to Amwal Al Ghad Wednesday, Abd El Aziz Labib -general manager of financial and admin affairs- stated that company's net income of the investments recorded 14.7 million pounds at the end of December 2015 opposed 12.5 million pounds in fiscal year 2014-15, registering 18 percent increase. Firm's financial indices showed that its total assets have been boosted by 10 percent to hit 329.3 million pounds at the first half of fiscal year 2015-16 compared to 300.5 million pounds in financial year 2014-15.
Real Estate
Egyptian Ministry of Housing has signed four contracts of large investment projects in real estate sector with the total cost of 200 billion Egyptian pounds (US$25 billion). Assistant Minister of Housing Khaled Abbas told Amwal Al Ghad Tuesday that the projects will be implemented using Public-Private Partnership (PPP) system. The ministry has signed two contracts with Mountain View in addition to two contracts with Arabia Group for Development & Urban progress company and Palm Hills.