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Financials and Investment News in Egypt

Fintech Companies Attracts $800M in 2022: CBE
11/21/2023 - The number of financial services companies raised from 32 to 177 companies from 2017 to 2022.

In addition to that, these companies had a significant contribution to Egypt’s economy by attr...
Govt Should Provide More Incentives for Local Industry Amid Anti-Israel Boycott Campaign: Experts
11/21/2023 - The Egyptian government needs to offer more incentives to boost local industries amid the campaign to boycott companies that support Israel, experts said to Ahram Online.

The boycott campai...
Egypt's International Cooperation Minister Participates in G20-Africa Summits
11/21/2023 - International Cooperation Minister Rania Al-Mashat joined the G20 Compact with Africa (CwA) summit hosted by Germany, according to a statement.

Al-Mashat attended the investment summit, aim...
Saudi Batterjee Group Announces Acquisition Plans in Egypt’s Pharmaceutical Market
11/21/2023 - The Saudi Batterjee Holding Group has unveiled its plans to acquire a pharmaceutical company listed on the Egyptian Exchange (EGX) within the next six months, Mazen Batterjee, Chairman of the group, s...
Eib Strengthens Middle East And North Africa Cooperation With New Cairo Hub
11/21/2023 - The European Investment Bank (EIB) has inaugurated a new regional hub in Cairo to foster cooperation with Middle Eastern and North African (MENA) partners, according to a statement by the bank .
Gulf-Egyptian Business Forum Kicks Off in Cairo
11/22/2023 - Egypt's Minister of Trade and Industry Ahmed Samir opened the first Gulf-Egyptian Business Forum at the Federation of Egyptian Chambers of Commerce (FEDCOC) in Cairo.

The two-day event is b...
EIB’s New Regional HQ in Cairo to “Open New Opportunities to Advance Development Efforts”
11/22/2023 - Prime Minister Mostafa Madbouly and Minister of International Cooperation (MoIC) Rania Al Mashat attended the inauguration of the European Investment Bank’s (EIB) regional headquarters in Cairo earlie...
Egypt’s Iron, Steel Exports Grow By 65% in Nine Months
11/22/2023 - Egypt's cast iron and steel exports surged to $1.74 billion in the first nine months of 2023, up by 65 percent, from $1.053 billion, in the corresponding period of 2022.

The figures were pu...
Paagriculture Min Meets Delegation of Saudi Investors
11/22/2023 - Minister of Agriculture and Land Reclamation El Sayyed el Quseir discussed with a high-level delegation of Saudi businessmen and investors ways of boosting and scaling up Saudi agricultural investment...
Afrcabinet Holds Weekly Meeting at NAC to Discuss Important Files
11/22/2023 - The Cabinet started its weekly meeting under Prime Minister Moustafa Madbouli at the New Administrative Capital (NAC) to discuss a number of political, economic and social files.

The meetin...
Egypt's Black Friday: Will Consumers Embrace Discounts Despite Inflation, Boycott Campaign?
11/23/2023 - Black Friday, the highly anticipated shopping extravaganza following Thanksgiving, is rapidly gaining popularity among Egyptian consumers.

This year, Black Friday falls on 24 November, and...
27 Million Containers to Be Handled By 2030: EIFFA
11/26/2023 - The Egyptian International Freight Forwarding Association (EIFFA) at Alexandria Chamber of Commerce (ACC), led by Medhat El-Kady, participated in the annual Dubai International Ports Shipping Summit, ...
Canadian Lotus to Explore Gold in Egypt’s Desert
11/26/2023 - The Egyptian Mineral Resources Authority (EMRA) signed an agreement with Canadian Lotus Gold Corporation for exploration concessions on 525 square kilometres with $2.5 million in investments, accordin...
Egypt Allocates EGP 202 Billion to Bolster Pension System
11/26/2023 - The Egyptian government has announced the allocation of EGP 202 billion for supporting its pension system during the fiscal year (FY) 2023/2024, said Mohamed Maait, minister of finance, according to a...
Dollar Rates Stable at Start of Sunday's Transactions in Egypt's Major Banks
11/26/2023 - The dollar exchange rate was stable at the start of transactions at Egypt's major banks.

At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate registered EGP 30.75 for buying...
Egypt Releases $63 Billion Worth of Imported Goods With $5 Billion Remaining in Ports: Official
11/26/2023 - Egypt has released imported goods valued at $63 billion from its ports since the beginning of 2023, while a remaining backlog of goods worth $5 billion is still awaiting clearance, El-Shahat Ghatouri,...
Egyptian Gov’t Gives Merchants 10 Days to Adjust Sugar Prices: Supply Minister
11/26/2023 - Egypt's Minister of Supply and Internal Trade Ali Moselhi revealed that merchants would be given a ten-day period to regulate prices, or else the government may “resort to forced pricing measures.”
Shaker Delivers A Speech at Opening of Conference "Digital Transformation in Distribution Networks"
11/28/2023 - Minister of Electricity and Renewable Energy, Mohamed Shaker, delivered a speech at the opening session of the "Digital Transformation in Distribution Networks" conference organized by Huawei China.
Afdb Approves $131 Mln Loan to Boost Egypt's Private Sector, Green Development
11/28/2023 - The African Development Bank (AfDB) approved a $131 million loan to Egypt with the aim of bolstering the government’s efforts to stimulate the private sector and diversify its green development follow...
Egypt, IFAD Discuss Enhancing Bilateral Cooperation
11/28/2023 - Minister of International Cooperation Rania Al-Mashat met on with Dina Saleh, the Regional Director for the Near East, North Africa and Europe at the International Fund for Agricultural Development (I...

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