With its recent funding, Wafeq will continue to innovate and build new product functionalities, while also focusing on customer acquisition.
At the start of the year, the government envisioned as many as 10 state-owned companies selling shares on the bourse in 2022.
Egypt signed a number of partnership agreements and letters of intent (LOI) worth around EGP 10 billion with development partners last week.
The lead sponsors of the conference are Mashreq Bank and Standard Chartered. The co-sponsor is Citibank.
The report lowered its expectations for the country’s inflation rate by 0.2 percent to 13 percent through the end of 2022, down from 13.2 percent.
Ezz stressed the importance of supporting this sector due to the growing opportunities worldwide and in Egypt.
The summit is expected to host a selection of international, regional, and local experts in their respective fields.
The Sovereign Fund of Egypt (TSFE) implemented or signed binding deals to execute 10 projects worth EGP 25.5 billion in 2021.
88% of consumers in Egypt have used at least one emerging payment method in the last year, with usage expected to further increase.
Remittances sent by Egyptian expats went up 2.1 percent year on year in the first 11 months of the past 2021/2022 fiscal year.
Fitch Solutions upgraded its projections for Egypt’s real GDP growth slightly to 6.1 percent during 2022, up from the 6% projected a month ago.
Another EGP400 billion will go for improving conditions of public employees including wages and compensations.
The funding was over the last 8 years. Over 1,000 exhibitions were organised where sales, contracts exceeded EGP 500m: Trade Minister.
She also said the economy would grow around 6% in the 2021-22 fiscal year, which ends in June.
The projects are under the portfolio of the Ministry of International Cooperation, with a total cost that reaches close to $12 billion.
The European Bank for Reconstruction and Development (EBRD) raised its projections for Egypt’s GDP growth for the current FY2021/22 to 5.7 percent.
A major food importer, Egypt’s been hit hard by record grain prices fueled by the Russian invasion.
This comes within the finance minister’s directives in which the campaign will start in Gharbiya governorate.
Replicating the success of Robinhood in the U.S., some platforms are looking to create investors out of the region. One such is Egypt-based Thndr.
Egypt’s net international reserves (NIRs) edged up in January by $45 million to post $40.98 billion, up from $40.93 billion recorded in December.