Pre-Trading Thoughts

The African Development Bank has allocated USD 2.2 bn for water projects in Egypt. At the National Dialogue, officials called for a ‘unified industrial law’ that would merge the disparate legislation currently in effect and set up an authority tasked with eliminating bureaucratic hurdles and simplifying licensing rules for the industrial sector. The government is spending a total of EGP180 bn on the Hayah Karima initiative in FY23/24. MNHD’s net profit in 1Q23 grew 152.9% y/y and 50.4% q/q to...