Pre-Trading Thoughts

Annual urban inflation rate in Egypt jumped to 18.7% in November, up from 16.2% in October. According to local media, the CBE renewed its instructions not to approve requests to import 13 commodities without obtaining its prior approval. Vodafone Plc’s South African subsidiary, Vodacom, has closed the acquisition of its parent company’s 55% stake in Vodafone Egypt. On a separate note, QIA acquisition of a 20-25% stake in Vodafone Egypt (out of ETEL’s 44.95% stake) is expected to close towards...