Highlights On 28 August 2024, the Egyptian Financial Regulatory Authority (“FRA”) issued decree no. 178 of 2024 (the “Decree”), which entered into force the following day of its publication. This Decree governs the acquisition, control, and mergers of companies engaged in non-banking financial activities. It introduces new approval requirements designed to enhance transparency and promote […]
We advised UMX Studio, one of Saudi Arabia’s pioneering game development studios, in its recent acquisition by Jetapult, a global strategic investment company in the gaming sector backed by Accel. This transaction marks Jetapult’s first investment in the MENA region. It aims to expand its electronic games portfolio, target new global audiences, and open doors […]
Highlights On 28 August 2024, the Egyptian Financial Regulatory Authority (“FRA”) issued decision no. 177 of 2024 (the “Decision”), outlining updated conditions for licensing and renewing licenses for companies engaged in non-banking financial activities. This Decision aims to regulate the licensing processes, ensuring companies comply with financial laws while fostering transparency and growth in the […]
We are pleased to share our latest report highlighting the laws and decrees issued in the second quarter of 2024. To access the report, click on the attachment below. If you are interested in acquiring a copy of the legislation and keen on remaining up to date with the most recent laws and decrees, sign […]
We are pleased to share our most recent report highlighting the critical decisions issued by the Board of Directors of the Financial Regulatory Authority (FRA) during the first half of 2024. To access the first issue, click on the attachment below.
The Egyptian General Authority For Investment (GAFI) has released a new guide detailing the legislative framework for protecting minority shareholders in Egyptian companies. Key points include: Read the full guide here.
Overview Egypt has recently launched its first regulated Voluntary Carbon Market (“VCM”) through a statement made by the Minister of Planning and Economic Development (the “MOPED”). This significant milestone marks a key step in Egypt’s efforts towards environmental and economic sustainability. Notably, this development follows the issuance of prime ministerial decree no. 4664 of 2022 […]
We are pleased to announce ADSERO’s contribution to the Chamber's Overview on Banking & Finance 2024. This comprehensive overview explores Egypt’s digital transformation strategy in the banking sector, highlighting key regulatory reforms and the shift towards a cashless economy. Contributors to this article are Hossam Gramon, Partner and Head of Banking & Project Finance, Karima […]
We acted as local counsel regarding Egyptian law for the European Bank for Reconstruction and Development(EBRD) on signing an extension loan agreement of EGP 341 million with Abou Ghaly Motors (AGM). This loan will support AGM in acquiring up to 100 Range-Extended Electric Vehicles to be operated as private taxis under the company's London Cab Egypt services. AGM's […]
We advised the Egypt Education Development Fund Company – a joint venture (JV) established by The Sovereign Fund of Egypt (TSFE) and the Universities Support and Development Authority (USDA) – on partnering with Al Ahly CIRA for Educational Services (Al Ahly CIRA) - a JV established by Al Ahly Capital Holding (ACH) and CIRA Education - to establish a […]
On 1 April 2024, the Ministry of Communications and Information Technology issued decree no. 250 of 2024 (the “Decree”) to introduce a new Chapter Nine titled “Registered Email Service” under the executive regulations (the “Postal Law ER”) of the postal system law no. 16 of 1970 (the “Postal Law”). This Decree marks a significant milestone […]
We are pleased to announce that ADSERO has been recognised as a “Recommended Firm” for the second consecutive year by the IFLR1000 EMEA 2024 rankings. In addition, we are proud to share the individual rankings:- Hossam Gramon, Partner and Head of Banking & Project Finance has been recognised as “Highly Regarded” in the “Banking” and “Project Finance” practice […]
We are proud to announce that ADSERO - Ragy Soliman & Partners has acted as the Egyptian Local Counsel to Telecom Egypt (TE), the country's full-service telecom operator, on a USD 200 million loan extended by Banque Misr UAE as Lender, Mandated Lead Arranger, and Facility Agent. Our team was led by Hossam Gramon, Partner; […]
Highlights On 21 May 2024, the Prime Minister issued decree no. 1670 of 2024 regarding the allocation and pricing of industrial lands (the “Decree”), as the validity period of the prices specified in the Prime Minister’s decree no. 3308 of 2022 (the “Previous Decree”) expired on 22 September 2023. The Decree sets forth the regulations […]
For the fourth consecutive year, we are thrilled to announce that ADSERO has been certified as a scheme member recognised by The Law Society of England and Wales. Additionally, ADSERO remains the only law firm in the MENA region awarded the Lexcel accreditation. The Law Society is the independent professional body for solicitors. Lexcel is […]
