Pre-Trading Thoughts 27/9/2021


– Slowdown in China will hit emerging markets and commodity prices
-CBE to issue mobile contactless payment licenses, supports digitalization and to reduce reliance on cash
-CBE to launch a digital platform for supporting small and medium enterprises and start-up companies
-FRA is working on law to govern nano-finance, crowdfunding, robo-advisory and insurtech
-CBE is finalizing reised leverage ratios and the new standards of credit risk under Basel III
-ADIB obtained FRA approval to increase the capital of the ADIB Consumer Finance to EGP25 million
-SPMD signed a contract with a subsidiary of MEDAF to conduct PCR tests for Egyptian workers heading to Libya, Implies revenues of EGP168 million and net profit of EGP62.16 million for SPMD in each of 4Q21 and 1Q22
-The Ministry of Supply stated that IBM will automate 22 wheat silos in Egypt by the end of 2021; Impact on GCSS not clear yet
– HELI allocated EGP450.0 million for construction in its New Heliopolis project
-ABUK increased its proposed FY20/21 dividends to EGP1.30/share, DY of 6.6%
-AMOC announced dividend of EGP0.15/share; DY of 4.3%

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