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Egypt’s headline inflation grows to 5.3%

EGX 30: 10,185, weekly change ( -0.7%), YTD (-6.1%)
Traded Value 1W Avg: EGP 277M, (-36.5%) above 90D Avg.
EGP:USD: 15.69 (+0.1%) weekly change 

From Contact to one of the biggest Fintechs in Egypt. A conversation with Hazem Moussa, the Chairman of Contact Financial Holding, on Thndr Claps with WAYA. Catch up tonight July 12 on Clubhouse at 8:00PM

Local Pick-ups

Egypt’s headline inflation grows to 5.3%

Egypt’s headline inflation increased to 5.3% in June 2021 compared to 4.9% in May. The rise was attributed to the price hikes of oil and fat products by 13.5%, cheese and eggs by 1.6%, and home maintenance products and services by 0.3%. (Daily News)

Elsewedy Electric to acquire International Cables Company

El Sewedy Electric Co. signs an agreement to acquire a 99.25% stake in international Cables Company. The value of the acquisition is EGP 410M. The company has signed the agreement last week on Thursday (Masrawy)

Speed Medical signs an agreement to manage Sharaf Hospital lab

Speed Medical has signed a partnership agreement for the management of the medical laboratory of Sharaf Hospital in the 10th of Ramadan city. The contract was signed with the revenue split mechanism, that will let Speed Medical get a rate of 55% of cash revenue and 75% of contract revenue.(EGX)

Other Local Headlines

  • Raya Contact Center to acquire 85% stake in Gulf Customer Experience
  • FRA approved the publication of MTO submitted by Compass Capital to acquire ANFI
  • EFG Hermes to increase its capital to EGP 4.6B
  • Gahbbour Auto unit Drive Finance gets FRA Approval For Consumer Finance
  • EFG Hermes, Paymob & AUC partner to offer financing plans for executive education programs
  • El Ahram for Printing and Packing to sell its full stake of 358,408 shares in El Badr Plastic

Global Pick-up

Jeff Bezos stepped down as Amazon CEO this week

Jeff Bezos has officially stepped down as Amazon CEO, leaving Amazon leadership to Andy Jassy the former CEO of AWS. Amazon stock surged 5.9% over the week to new record highs, increasing Jeff Bezos net worth by USD 10B. (Forbes)

Featured Opportunity

Alexandria Co. Pharma– Alexandria Co. is a leading pharmaceutical company in Egypt manufacturing human & animal health products in addition to medical appliances. The company was our #1 top factor investing picks for July 2021 with a score of 4.10/5.00

Word of the week – Fiscal policy

Fiscal policy is an economic tool that the government uses through controlling their revenue collection (by raising or cutting taxes) and controlling the government spending to infleunce aggegate demand and the overall national economy. Fiscal policy is based on the theories of John Maynard Keynes.

Book of the week – The Model Thinker

Everyone is talking about data, few really understand it. This book will teach you many mathematical, statistical & computational models like linear models, network models, game theory & more. This many-model paradigm will sharpen your thought and help you become a more sophisticated thinker. (good reads)

Earnings Call:

  • Taaleem for Management Services achieved EGP 228.4M NET profits in 9 months
  • Golden Coast post net profits EGP 1.7M in Q1 2020, a 19% YoY decrease.
  • AJWA reported net profits of EGP 9.9M in Q1 2020, vs EGP 10.5M losses
  • OIH turned to net losses of EGP 31M in Q1 2021, vs net profits of EGP 51.6M