Finance News
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Egyptian banks offer fee-waived, no-minimum accounts through April for financial inclusion drive
Egyptian banks launch a fee-waived, no-minimum-balance account drive in April, enhancing financial inclusion.
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Fees for money transfers through Applications of 3 Banks
This step comes after InstaPay imposed a transfer fee of 0.1 percent of the transaction amount, with a minimum of 50 piasters and a maximum of LE20.
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The EGX and pound falls again amid additional US tariffs
The drop in the pound was mirrored by a steep decline in the Egyptian Exchange (EGX), where the main indices fell by between 1.86% and 3.65%.
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US tariffs increase uncertainty as Egypt weighs interest rate cut
The global trade disruptions caused by the newly imposed US tariffs are creating uncertainty for Egypt’s monetary policy.
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Economy shows significant improvement in first 8Ms of FY2024
Kouchouk emphasized that the Egyptian government is focused on reforming its financial policies to better support private sector growth and stability.
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Recovery signs for Egyptian pound and stock market amid economic challenges
The potential for another tariff increase by the US government tomorrow has further heightened uncertainty.
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e& Egypt Launched Instant International Money Transfer Service
The cash wallet works with just one click. This process will not need to visit branches or intermediary companies.
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Egyptian inflation seen edging down to 12.6% in March
The median forecast of 14 analysts polled by Reuters was for annual urban consumer inflation to have slipped to 12.6% in March from 12.8% in February.
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French investments in Egypt exceed $7 bln during Macron visit
French investments in Egypt have exceeded $7 billion, making France one of the country’s key partners and creating over 50,000 jobs.
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Mastercard, PayTabs partner to enhance digital payment solutions for Egypt SMEs
According to the statement, it will also allow merchants to generate payment links quickly, reducing the time and effort required.
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Stock market lands in the red amid Egyptian selling and new US tariffs
The Egyptian Exchange (EGX) plummeted on Sunday, just one day after the US implemented its latest blanket tariffs.
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Egypt’s external debt fell by US$12.9 billion in 2024
Egypt’s external debt dropped $12.9 bn in 2024 to $155.1 bn—the largest annual fall ever—driven by CBE reforms and timely bond repayments.
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EU approves €4bn loan for Egypt
The EU Parliament approves a €4 bn tranche for Egypt’s MFA package, bolstering fiscal stability, reforms, and strategic partnership through 2027.
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Finance Ministry highlights initiatives to stimulate economic activity
Egypt’s Finance Ministry unveils initiatives to spur growth: private-sector incentives, industry support, and expanded social protection outlays.
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USD/EGP exchange rates edge up on Thursday
USD/EGP rates ticked up to EGP 50.54/50.64 at major banks on April 4, reflecting ongoing dollar demand and FX‑market volatility.
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Central Bank of Egypt announces increase in net foreign assets
Egypt’s banking system net foreign assets jumped by $1.5 bn in Feb to $10.17 bn, boosting FX reserves and supporting pound stability.
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2PointZero’s Maseera acquires Egyptian fintech platform ADVA
2PointZero’s Maseera acquires ADVA, leveraging AI credit scoring and e‑KYC to extend digital lending to Egypt’s 50 M underbanked consumers.
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Egypt’s new budget promises pay raises for public workers
The FY2025/26 plan boosts salaries, raises minimum wage, and opens hiring across education and healthcare, but can it balance growth with rising cost?
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7 key facts about the EU’s €4 billion aid to Egypt
What the newly approved financial package means for Egypt’s economy, green transition, and long-term relationship with Europe.
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Billionaire Nassef Sawiris changes residency to Italy
Sawiris, whose wealth is estimated at around $8.6 billion, resigned from his position as director of the London branch of his family office.