Egypt’s Sarwa Capital plans $152mln sukuk issue this year
Friday, 17 July 2020 11:58
Egyptian firm Sarwa Capital plans to issue sukuk bonds worth EGP2.5 billion (about $152.2 million) this year. A request in that regard is pending approval by the financial market regulator, local media reported.
Sarwa Capital also engaged talks with potential arrangers and guarantors for its operation. “One of the key criteria for selecting the promoters of the IPO is their ability to market the bond to as many people as possible,” said MD Ayman el Sawy (pictured). The securities issued will have a 7-year maturity.
If approved, the operation will be the second sukuk issue on the Egyptian financial market in 2020, after the one carried out in April by Talaat Mostafa Holdings. The amount requested was EGP 2 billion.
To date, only two Egyptian financial companies are authorized to issue sukuk. These are Sarwa Capital and EFG Hermes, which is listed on the Cairo Stock Exchange
Idriss Linge
Live News
-
Cameroon: Kribi to Host $24 Mln Tourism Complex with Hotel, Golf Course
20:25
-
Cameroon Inflation Seen Easing Below 3% by 2027 But Staying Above Regional Target in Near Term
19:53
-
Mauritania Launches Digital Platform to Help Parents Monitor Children’s School Progress
19:19
-
ECOWAS Lawmakers Push for Regional Pact on Ethical AI and Digital Education
18:26
-
Togo: Lomé Airport Receives U.S.-Funded Security Equipment to Bolster Threat Detection
17:42
-
MTN Nigeria Unveils Tier 3 Data Centre, Signals Major Boost for Local Digital Economy
17:26
-
Ecobank to End Safe Deposit Box Services Amid Low Demand and Compliance Risks
17:12
-
Ecobank Taps Google Cloud to Accelerate Digital Banking Across Africa
16:42
-
Cameroon Imposes New Tax on Used Vehicle Imports
16:17
-
South Sudan Launches $58 Million Education Program
15:47
Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...
Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...
• BOAD releases CFA10 billion ($17.8 million) to support Boungou and Wahgnion gold mines.• Burkina F...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...
The MTN Nigeria Dabengwa Tier 3 Data Centre is more than just a physical infrastructure project — it’s a foundational investment in Nigeria’s digital...
• South Sudan initiates a $58 million, four-year project to transform basic education nationwide.• The program aims to directly benefit over 300,000...
• Cape Verde reclassified as an upper-middle-income country due to a 16.8% rise in GNI per capita.• Namibia downgraded to lower-middle-income after a...
• Ivory Coast grants two new four-year gold exploration permits to Global Industries Sarl and Rampage Exploration Sarl.• National gold production reached...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...