Egypt to unveil IPO program details for state companies within 2 weeks

Egypt’s Prime Minister Mostafa Madbouly has announced the government’s intention to unveil the plan for offering state-run companies on the Egyptian Exchange (EGX) in 2023 within two weeks. Madbouly, Asharq business reports, indicated that the Cabinet would soon reveal the names of the companies to be offered on EGX throughout 2023. Egypt has been planning […]

Egypt: Production of electric buses to begin in November

Egypt will start manufacturing electric buses as of November this year under an agreement with China’s Foton Motor.   Under the agreement, Foton Motor, which designs and manufactures trucks and buses, will manufacture 2,000 buses over four years, 500 vehicles per year. Production can be increased to 5,000 buses.   Minister of Military Production Mohamed […]

Algeria’s Cocainegate Continues to Uncover Corrupt Officials

Cocainegate, as the press came to call it, continues to stir heated debate in Algeria after senior officials including major gendarmerie general Menad Nouba are brought before justice. Authorities seized 701 kilograms of cocaine last May on a ship in the port of Oran. The record haul points to a growing network linking South America […]