Today’s Top News & Analysis
Egypt's current account deficit expanded by 440% in H1 FY24
CBE raised the daily withdrawal limit
GBCO to distribute EGP0.2/share cash dividends
MACRO
Egypt's current account deficit expanded by 440% in H1 FY24
Egypt's Balance of Payments (BoP) has shown a five times wider current account deficit for H1 FY24 of USD9.6bn vs. USD1.8bn last year. This comes on the back of a decrease in exports by 24% y/y to USD16.4bn due to a 63% y/y decline in oil exports to USD3.2bn leading to a trade deficit of USD18.7bn (+21% y/y). (Enterprise)
CBE raised the daily withdrawal limit
Yesterday, the Central Bank of Egypt (CBE) said in a statement that the daily withdrawal limits for individuals and companies are raised as follows:
Over-the-counter limits have been raised from EGP150,000 to EGP250,000.
ATM withdrawal limits have been raised from EGP20,000 to EGP30,000. (Enterprise)
CORPORATE
GBCO to distribute EGP0.2/share cash dividends
GB Corp [GBCO] will distribute a cash dividend of EGP0.2/share, implying a 1.7% yield. (Company disclosure)
Markets Performance
Key Dates
16-Apr-24
ORHD: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
17-Apr-24
MASR: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
18-Apr-24
SWDY: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
SWDY: EGM / Discussing capital reduction & amending Articles No. 6 & 7 of the company's bylaws.
CLHO: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
CICH: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
CICH: EGM / Amending some Articles of the company's bylaws.
20-Apr-24
DSCW: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
DSCW: EGM / Amending Articles No. 3, 4 & 7 of the company's bylaws.
21-Apr-24
CIEB: Cash dividend / Deadline for eligibility for a dividend of EGP1.145/Share.
EFID: Cash dividend / Deadline for eligibility for a dividend of EGP0.428/Share.
CERA: Cash dividend / Deadline for eligibility for a dividend of EGP0.025/Share.
COMI: Cash dividend / Deadline for eligibility for a dividend of EGP0.55/Share.
ETEL: Cash dividend / Deadline for eligibility for a dividend of EGP1.50/Share.
GBCO: Cash dividend / Deadline for eligibility for a dividend of EGP0.20/Share.
22-Apr-24
AMIA: Cash dividend / Deadline for eligibility for a dividend of EGP0.050/Share.
24-Apr-24
CIEB: Cash dividend / Payment date for a dividend of EGP1.145/share.
EFID: Cash dividend / Payment date for a dividend of EGP0.428/share.
CERA: Cash dividend / Payment date for a dividend of EGP0.025/share.
COMI: Cash dividend / Payment date for a dividend of EGP0.55/share.
ETEL: Cash dividend / Payment date for a dividend of EGP1.50/share.
PHAR: Cash dividend / Deadline for eligibility for a dividend of EGP2.00/Share.
ORWE: Cash dividend / Deadline for eligibility for a dividend of EGP1.25/Share.
EFIH: Cash dividend / Deadline for eligibility for a dividend of EGP0.187/Share.
EFIC: Cash dividend / Deadline for eligibility for a dividend of EGP7.00/Share.
GBCO: Cash dividend / Payment date for a dividend of EGP0.20/share.
28-Apr-24
AMIA: Cash dividend / Payment date for a dividend of EGP0.050/share.
29-Apr-24
RMDA: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
BTFH: OGM / Approving financial statements ending 31 Dec. 2023.
30-Apr-24
EGAL: OGM / Approving the estimated budget of FY 2024/2025.
PHAR: Cash dividend / Payment date for a dividend of EGP1.00/share (1st installment).
ORWE: Cash dividend / Payment date for a dividend of EGP1.25/share.
EFIH: Cash dividend / Payment date for a dividend of EGP0.187/share.
EFIC: Cash dividend / Payment date for a dividend of EGP2.00/Share (1st installment).
PRCL: OGM / Considering renting a ceramic factory.
PRCL: EGM / Amending some Articles of the company's bylaws.
1-May-24
AIH: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.