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10 Egyptan startups win VMS Bridge Programme awards
The programme aims to provide opportunities for growth and expansion locally, regionally, and internationally connecting ecosystems in Egypt and KSA.
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Egypt, Italy to establish AI hub in Cairo to serve Africa
According to Egypt’s MCIT, the AI center will focus on supporting AI development and application throughout Africa.
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Egypt’s bluworks closes $1 million pre-Seed
bluworks, an Egypt-based startup developing blue-collar HRTech SaaS solutions, has raised a $1 million pre-Seed investment round.
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Tunisia's COFICAB Company to boost Egypt’s exports, targeting $200M in exports by 2027
The company's products already boast a significant local component percentage of approximately 55 percent at the initial production stage.
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Egypt’s total budget deficit to widen to 7.2% of GDP in FY24/25
The country’s GDP for FY2024/2025, which begins in July, is estimated to be EGP 17 trillion.
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Egypt to increase industrial output by 20%: Trade Minister
This ambitious strategy is expected to create 7 to 8 million job opportunities during the specified period.
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Bridging the Gender Gap in Egypt's Green Energy Sector
UNDP is setting an ambitious plan by putting gender equality at the centre of economies by ensuring more women in leadership.
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Egypt, Italy discuss cooperation in field of renewable energy, green transition
Egypt and Italy have long historic relations, Shaker said, adding that Italy now is one of the most important commercial partners to Egypt.
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Here are Egypt’s summer opening hours for shops, cafes and restaurants
The Ministry of Local Development has set the working hours for restaurants, cafes and bazaars to operate daily from seven in the morning until 11pm.
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Shell and partners begin drilling three new offshore wells west of the Nile Delta
Shell and its partners developed the West Delta Deep Marine area in 300 phases.
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Egypt’s Tobacco Pioneer, The Eastern Company, Sees Skyrocketing Revenues
The Eastern Company's revenues surged by 54 percent in the second quarter of the fiscal year 2023/2024.
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Health Ministry, EGAAD cooperate in medical tourism field in Egypt
The protocol also covers sending medical staff to work at the hospitals affiliated with EGAAD in Africa as well as training the medical staff there.
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Egypt-Based Fintech Waffarha Raises Seven-Figure Seed Round
With this funding, Waffarha aims to bolster its technological infrastructure, expand its team and broaden its reach into KSA.
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World Gold Council confident in Egyptian gold market as a significant regional market
Highlighting exceptional quality and esteemed reputation of Egyptian gold artifacts, Naylor stressed on increasing efforts to boost Egyptian market.
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Supply of Tablets
Cairo: Supply of tablets and installation of the system and site applications
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Egypt participates in launching financing platform between 10 international banks
The joint financing forum will provide a space for participants to discuss joint financing opportunities, the best practices, and common issues.
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Egypt Eyes 800 Billion EGP Investments in 2024 Economic Plan
Speaking at a press conference, El-Said detailed Egypt’s ambitious target of $1.5 billion from its public offering program by the end of 2024.
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Egypt to launch invitation to tender for development of desalination plants
Egypt’s water desalination program entails the launch of several plants possessing a total capacity of 8.85 million m3/day by 2050.
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The IMF Outlines Four Primary Goals for Egypt’s Economic Stability
Egypt’s economy has been struggling for years with inflation. In January 2022, one USD cost EGP 15.7, and one year later, it cost EGP 29.8.
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Egypt, BPGIC forge partnership for specialized petroleum-free zone
The agreement aims to establish a specialized free zone dedicated to petroleum production, as stated by the Cabinet.
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Philip Morris Egypt raises prices of cigarettes for 2nd time in 2024
For the second time this year, Philip Morris Egypt raised prices for packs of Marlboro, Merit, and L&M cigarettes by 5 EGP.
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UK to finance Egypt’s budget by $400M: MoIC Minister
Minister Al-Mashat also highlighted a debt swap agreement worth $100 million signed with China in October 2023.
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SCZONE, china’s WU'AN XIN FENG to establish $297M Iron Factory
The Chairman of SCZONE, Walid Gamal El-Din, also revealed that the overall investments between China and SCZONE have exceeded $2 billion.
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Egypt's Net Foreign Asset Deficit Shrinks to 2-year Low
Data published on the website of the Central Bank of Egypt (CBE) showed that the deficit in the bank’s net foreign assets fell in March.
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Petroleum Min.: Zohr Gas Field Produces 2 Bln m³ Daily
The government is working to dig gas wells that will achieve a new leap for the Egyptian economy.
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Smuggled King Ramses II statue head successfully returns to Egypt
The recovered piece represents the head of a statue of King Ramses II, which dates back more than 3,400 years.
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Saudi firm WAJA Co. forms joint venture to produce EVs in Egypt
In October 2023, Egypt was ranked 28th in a global e-mobility index, which reveals the country’s readiness to transition to EVs.
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Egypt Advances more than 50 Spots in Global AI Ranking
The announcement was during the conclusion of the activities of the Data Science and Artificial Intelligence (DSC) Conference in its first edition.
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Egypt seeks US$145 billion in exports in 2030
There are many incentives provided by the state to support the export program and to develop well-studied plans on the ground to achieve the goal.
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Ajlan & Bros Group plans to invest $1.5B in Ras Jamila in Egypt
The group also submitted an offer to acquire companies within Egypt’s IPO program, expecting negotiations to be completed within 6 months.