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Financials and Investment News in Egypt

EBRD Considers $35 Million Loan to Arab Investment Bank to Support Msmes
12/13/2023 - The European Bank for Reconstruction and Development (EBRD) is considering providing two loans totaling $35 million to the Egypt-based Arab Investment Bank (aiBank), according to statements by the EBR...
Egypt’s Exports to Africa Rise 13 Percent in 10 Months
12/17/2023 - Egypt’s exports to Africa surged 13 percent year-on-year (YoY) to $6 billion between January and October, Minister of Trade and Industry Ahmed Samir stated .

Top Egyptian exports to Africa ...
Egypt Pays Over EGP 13 Bln Annually in Interest Rate Difference
12/17/2023 - Egypt bears an annual burden of over EGP 13 billion due to interest rate differences in loans provided domestically at discounted interest rates for production sectors, covering agricultural, industri...
APEX Pharma to Build EGP 4 Bln in Factories in Egypt, Saudi Arabia Next Year
12/17/2023 - Egyptian pharmaceutical company APEX Pharma has announced plans to pump EGP 4 billion ($130 million) in investments to establish two state-of-the-art pharmaceutical factories in Egypt and Saudi Arabia...
IDSC Reports 15% Decline in Egypt’s Non-Oil Trade Deficit
12/18/2023 - The cabinet’s Information and Decision Support Centre (IDSC) revealed in a report that Egypt’s non-oil trade deficit contracted by 15 percent to record 9.1 billion during the third quarter of 2023 com...
Dollar Rates Stable at Start of Tuesday's Transactions
12/18/2023 - 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 buyin...
PM Follows Up on Executive Position of A Number of Projects in South Sinai Governorate
12/18/2023 - The Prime Minister, Mostafa Madbouly, held a meeting today with the Governor of South Sinai, Major General Khaled Fouda, to follow up and discuss the executive position of a number of projects that ar...
Telecom Egypt Considering Offers to Buy Towers
12/18/2023 - Telecom Egypt (TE) has received multiple non-binding offers to buy its broadcasting towers, according to a bourse statement released.

The company confirmed that it is currently studying the...
Transport Minister Implementing First Phase of Cairo Metro Line 4
12/18/2023 - Egyptian Minister of Transport Kamel El Wazir and Japanese Ambassador in Cairo Oka Hiroshi conferred on means of boosting co-operation between the two sides in the various transport fields especially ...
Egypt Joins G20 Per Brazil's Invitation
12/18/2023 - The Brazilian government invited Egypt to participate as a guest in all G20 meetings during Brazil's presidency of the group, which started in December and will last for one year, Ambassador Ragy El-E...
Egypt To Build Integrated Urban Project On State-Owned Lands: Minister
12/18/2023 - The Egyptian government will build a comprehensive urban project on 2,000 acres in southern Cairo previously belonging to the state-run Iron and Steel Company, Minister of Public Sector, Mahmoud Esmat...
EIB, Afdb Support Launch of African Pharmaceutical Technology Foundation
12/18/2023 - Africa advanced efforts to develop an independent drug industry after Rwanda agreed to host the African Pharmaceutical Technology Foundation (APTF) in partnership with the European Investment Bank (EI...
Egypt’s ACUD Promises to Offer New Green Building Incentives By End of 2023
12/18/2023 - Administrative Capital for Urban Development (ACUD), the operator of Egypt’s new mega capital, is set to offer new green building incentives by the end of 2023, Chairman Khaled Abbas stated during a p...
Egypt’s Exports to Africa Rise 13 Percent in 10 Months
12/18/2023 - Egypt’s exports to Africa surged 13 percent year-on-year (YoY) to $6 billion between January and October, Minister of Trade and Industry Ahmed Samir stated.

Top Egyptian exports to Africa w...
Egyptian Leading Developer TMG Finalizes $882 Mln Deal to Acquire Seven State-Owned Historic Hotels
12/20/2023 - Egyptian leading real estate developer Talaat Mostafa Group (TMG) announced that its hotel arm, ICON, has finalized an $882 million deal to acquire a 39 percent stake in Legacy Hotels, which owns seve...
El Arish Airport Receives 5 Planes Laden With 131 Ton Aid to Gaza
12/20/2023 - El Arish International Airport received five planes laden with 131 tons of aid relief, including medical supplies and equipment.

In statements, the head of the Egyptian Red Crescent branch ...
PM Reviews Timeline of Green Hydrogen Project
12/20/2023 - Prime Minister Moustafa Madbouli met on Wednesday with representatives of Saudi Arabia’s ACWA Power to discuss the timeline for implementing a green hydrogen project at the Suez Canal Economic Zone (S...
Egypt Secures $5.6 Bln from Selling Stakes in 14 State-Owned Companies
12/20/2023 - Egypt has secured $5.6 billion from the partial and full sale of stakes in 14 state-owned companies, Prime Minister Mostafa Madbouly stated in a press conference.

Madbouly stated that the g...
Egypt Imports 50,000 Tons of Sugar Amid Price Increase
12/20/2023 - Egypt's General Authority for Supply Commodities (GASC) has imported 50,000 tons of raw sugar to be delivered in February 2024 amid an alarming price increase in the local market, according to a Cabin...
EBRD Provides $100 Mln Loan To National Bank Of Egypt
12/20/2023 - The European Bank for Reconstruction and Development (EBRD) announced providing a $100 million loan to the National Bank of Egypt (NBE) to finance Egyptian private micro, small, and medium enterprises...

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