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Financials and Investment News in Egypt

Afreximbank Inks $3 Bln Finance Agreements for Egyptian Companies
11/14/2023 - The African Export-Import Bank (Afreximbank) signed $3 billion financial agreements with Egyptian companies on the sidelines of the African Intra-Trade Exhibition (IATF 2023), according to Ayman El-Zo...
Qatari Group Plans to Invest Over $60 Million in Egypt in 2024
11/14/2023 - Al-Mana Qatari Group has announced plans to invest more than $60 million in Egypt in 2024, Abdulaziz Hamad Al-Mana, the executive director of the company, said.

Most of the money will go to...
Egypt’s Trade Exchange With Nile Basin Countries Reaches $3bn in 2022: CAPMAS
11/14/2023 - The Central Agency for Public Mobilization and Statistics (CAPMAS) announced that the trade exchange between Egypt and the Nile Basin countries amounted to $3bn in 2022, according to its annual bullet...
Irrigation Min. Asserts Significance of Clearing Canals to Improve Performance
11/14/2023 - Egypt’s Minister of Water Resources and Irrigation Hany Sewilam said that the Egyptian Public Authority for Drainage Projects (EPADP) carries out clearing operations for as many as 4,444 main agricult...
Market Watch: Egyptian Bourse Hits Historic Highs on Wednesday
11/15/2023 - The Egyptian Exchange (EGX) ended in the green on Wednesday with the EGX30 approaching its historic high, while gold prices jumped and the 24-carat gold hit a new summit at EGP 3,109 per gram.

...
Egypt Raises Limits on Prepaid Cards, Mobile Banking Transactions by 100%
11/15/2023 - The Central Bank of Egypt (CBE) has increased daily and monthly limits of transactions on financial inclusion accounts, prepaid cards, and mobile banking by 100 percent, a circular said.

Fo...
Agriculture Min. Reviews Opportunities, Challenges of Investment in Africa
11/15/2023 - Minister of Agriculture and Land Reclamation Sayyed Al-Quseir said on Wednesday 15/11/2023 that the African continent possesses enormous natural and economic resources, including millions of hectares ...
President El-Sisi Meets The Prime Minister and The Minister of International Cooperation
11/15/2023 - President Abdel Fattah El-Sisi met with Prime Minister, Dr. Moustafa Madbouly, and Minister of International Cooperation, Rania Al-Mashat.

Spokesman for the Presidency, Counselor Ahmed Fahm...
Qatari al Mana Group Plans $60 Million Initial Investment in Egypt
11/15/2023 - CEO of the Qatari Al Mana Group, Saud Omar Al Mana, has announced plans to inject nearly $60 million into the Egyptian market in 2024.

The announcement was made during the Qatar Egypt Inves...
Finance Min.: Promoting Cooperation With India to Face Economic Challenges
11/15/2023 - Finance Minister Mohamed Maait asserted Egypt's keenness on diversifying financing resources and accessing new capital markets through innovative and more sustainable tools.

He reviewed mea...
Egyptian Exports to African Countries to Rise By 10 Percent by End of 2023 to $5.5B
11/15/2023 - Egypt’s exports to Africa are expected to increase by 10 percent by the end of the year to an estimated value of $5.5 billion, Sherif El-Gabaly, the Chairman of the Egyptian Chamber of Chemical Indust...
Pm Says Govt Keen to Encourage Private Sector to Invest in Health Services
11/15/2023 - Prime Minister Mostafa Madbouli said the government is keen on encouraging the private sector to invest in the health services' sector.

Madbouli made the remarks during his meeting with Cha...
Unemployment rate in Egypt stands at 7.1% in Q3/2023: CAPMAS
11/15/2023 - Egypt reported 2.263 million unemployed individuals in the third quarter (Q3) of 2023, accounting for 7.1 percent of the total workforce, according to a statement released by the Central Agency for Pu...
US Dollar Rate Hits All-Time High in Parallel Market in Egypt Exceeding EGP 50/1 USD
11/15/2023 - The US dollar rate hit new records in the currency parallel market, as it reached EGP 50/1 USD for small amounts ($1000-$1500) and around EGP 55/1 USD for greater amounts, the number of importers oper...
Egypt, Belarus Hold Trade Committee Talks
11/16/2023 - Egypt’s Minister of Trade and Industry Ahmed Samir met with Belarusian Minister of Antimonopoly Regulation and Trade Alexei Bogdanov to discuss mutual cooperation, according to a statement .

...
Egypt Raises Agriculture, Irrigation Investments by 71% Yoy for FY2023/2024
11/16/2023 - The Egyptian government increased investments in the agriculture and irrigation sector by 71 percent year-on-year (YoY) to EGP 116.6 billion ($3.77 billion) for the fiscal year (FY) 2023/2024, accordi...
PM: Presidential Directives to Continue Work to Attain Self-Sufficiency, Localize Industries
11/18/2023 - Prime Minister Moustafa Madbouli asserted there are presidential directives to continue work to attain self-sufficiency and strengthen and localize different industries, with special focus on modern p...
Madbouli Inspects Mapei Italian Company in 10th of Ramadan City With $25 M Investments
11/18/2023 - Prime Minister Moustafa Madbouli asserted the state's keenness to deepen the industry of the local product and encourage and empower the private sector, pointing out that the Egyptian market is “huge”...
PM Inspects GLC Factory in Obour City
11/18/2023 - Prime Minister Moustafa Madbouli inspected, during his tour the factory of German Lebanese Company for Paints (GLC) in Obour City.

He was accompanied by Trade Minister Ahmed Samir and Execu...
PM Inspects Factories in Obour, 10th Of Ramadan Cities
11/18/2023 - Prime Minister Moustafa Mabouli made a tour to inspect a number of factories in the cities of el Obour and 10th of Ramadan.

The Premier started his tour with inspecting a factory for medica...

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