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Financials and Investment News in Egypt

Dahab Masr, Blnk Partner to Create New Gold Investment Opportunities in Egypt
12/25/2023 - Precious metals investment company Dahab Masr and Blnk, a fintech company, have signed a strategic partnership to offer gold investments through the Blnk application, according to a press release.
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Cbe Gives Banks 6 Months to Comply With New Anti-Money Laundering Regulations
12/25/2023 - The Central Bank of Egypt (CBE) has given banks six months to comply with the updated anti-money laundering and terrorism financing regulations issued on 19 December, according to a circular posted .<...
Sczone Receives $1.85 Bln Investments in Six Months: Chairman
12/26/2023 - Egypt’s Suez Canal Economic Zone (SCZone) has received $1.85 billion worth of investments between 1 July and 25 December, the SCZone’s Chairman Walid Gamal El-Din stated according to a cabinet stateme...
Infograph: Egyptian Expats' Remittances to Drop 15% in 2023
12/26/2023 - Egyptian expats’ remittances are expected to have declined by over 15 percent to $24.2 billion in 2023 from $28.3 billion in 2022, according to a recent report released by the World Bank (WB) in Decem...
Egypt’s Decent Life Initiative to Enter Second Stage in FY2024/25: Planning Minister
12/26/2023 - Egypt is poised to begin the second stage of the Decent Life initiative, comprising a series of countryside-focused national infrastructure projects, in the coming fiscal year 2024/2025, Minister of P...
Tradehub Launches Digital Platform to Support Exports, Local Manufacturers in Egypt
12/26/2023 - TradeHub, an Egyptian startup, has launched a digital platform to simplify exports and trade operations for local manufacturers, according to a company statement released .

The platform sup...
PM: Egypt Aspires to Become Global, Regional Pharmaceutical Hub
12/26/2023 - Prime Minister Mostafa Madbouly has emphasized the State's continued efforts to provide medicines and various medical supplies to hospitals, noting that Egypt aspires to become a global and regional p...
PM Witnesses Inking of Mou to Upgrade Solar Energy Project Between Egypt, China
12/26/2023 - Prime Minister Moustafa Madbouli attended the inking ceremony of a memorandum of understanding between the New and Renewable Energy Authority (NREA) and the Egyptian Electricity Holding Co. (EEHC) of ...
AD Ports Finalizes Agreement to Develop New Terminal at Egypt’s Safaga Port
12/27/2023 - Abu Dhabi Ports Group signed a 30-year definitive concession agreement with the Red Sea Ports Authority (RSPA) for the development and operation of the Safaga 2 multi-purpose terminal at Safaga Sea Po...
Irrigation Min Stresses Importance of Rehabilitating Water Facilities
12/27/2023 - Minister of Water Resources and Irrigation Hani Sewilam reaffirmed the importance of rehabilitating and maintaining water facilities nationwide to guarantee improving the quality of the water manageme...
Trade Ministry Issues New Regulations Facilitating Licensing Industrial Facilities
12/30/2023 - Minister of Trade and Industry Ahmed Samir issued decision no. 493 of 2023 amending the ministerial decision no. 461 of 2018 on rules of granting licences for industrial facilities.

The ame...
Finance Minister: Comprehensive Health Insurance System Expands to New Governorates in 2024
12/30/2023 - Finance Minister and Head of the General Authority for Comprehensive Health Insurance Mohamed Maait said that the system of comprehensive health insurance will be applied in new governorates in 2024, ...
Mashat asserts depth of joint economic ties between Egypt, US
12/30/2023 - International Cooperation Minister Rania el Mashat asserted the depth and strength of joint economic relations between Egypt and US.

Mashat added her country is looking forward to promoting...
PM: Gov't to Continue Structural Reforms Program in Economic Sectors
12/30/2023 - Prime Minister Mostafa Madbouli asserted that the government will continue working on structural reforms program in certain sectors, Cabinet Spokesman Mohamed el Homosany said.

This came du...
PM: Sisi’s Dream of Building One Mln Housing Units Almost Comes True
12/30/2023 - Prime Minister Mostafa Madbouly has said the dream of President Abdel Fattah El Sisi to build one million housing units for low-income youth and families is about to come true.

In press sta...
PM Declares 7 Essential Goods as Strategic; Implements Measures for Market Control, Price Regulation
12/31/2023 - Egypt’s Prime Minister, Mostafa Madbouly issued a decision,, declaring seven essential commodities, namely mixed oil, broad beans, rice, milk, sugar, pasta, and white cheese, as strategic products in ...
Dollar Prices Stable at Start of Sunday's Transactions
12/31/2023 - 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...
Egypt Commits to Enhancing Wage Levels in 2024: Finance Minister
12/31/2023 - The Egyptian government is set to continue improving wage levels in 2024 to alleviate the financial burdens faced by citizens since the wake of the COVID-19 pandemic and amid subsequent geopolitical t...
Sisi Directs to Attract More Foreign Investments, Empower Private Sector
12/31/2023 - Egyptian President Abdel-Fattah El-Sisi has directed to intensify efforts to attract more foreign investments and enhance the role of the private sector in the country's economy, according to an offic...
Irrigation Min. Asserts Importance of Managing Water System
1/1/2024 - Minister of Water Resources and Irrigation Hany Suweilam asserted the importance of managing the water system in an integrated way and with good mechanisms that guarantee delivering water to the benef...

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