Finance News
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Egyptian fintech PayMint launches Meeza prepaid card
Founded in 2019, PayMint provides a wide range of financial services for both individuals and micro, small, and medium-sized enterprises.
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MSMEDA partners with UNDP to boost MSME sector in Egypt
During the meeting, Rahmy outlined MSMEDA’s significant achievements in digital transformation, job creation, innovation, and expanding financing.
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Egypt’s Ministry of Planning 2024 Report
In the first quarter of FY2024/2025, private sector investments surged to LE 133.1 billion, constituting 63.5 percent of total investments
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Misr Insurance, UAE's AAIC sign protocol to boost Egypt digital transition
The partnership aims to exchange expertise in innovative digital solutions for the insurance sector.
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Egypt leasing finances record EGP 47.4 mln in 1st 10 months of 2024: FRA
The Financial Regulatory Authority (FRA) announced Sunday that the value of leasing finances in Egypt increased to EGP 47.4 million.
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Egypt receives first tranche of EU’s Macro-Financial Assistance program
The €1 billion tranche was deposited into the Central Bank of Egypt last Friday as part of the financial assistance.
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Egypt to acquire additional shares contributing $28.9 mln to IFC capital
resident Abdel-Fattah El-Sisi issued Decree No. 110 of 2024 to approve Egypt's acquisition of an additional 28,940 shares in the IFC.
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9 golden licenses awarded to investment projects
By granting these golden licenses, Egypt reinforces its position as a hub for strategic investment and economic development.
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Saudi Jarir, Aman Egypt to establish over $26mln finance company
After obtaining the necessary regulatory licenses, Aman Egypt will hold a 49% stake in the joint venture’s shares.
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Egypt’s GDP growth reaches 3.5% in Q1 FY2024/25
Private investments grew by 30%, reaching EGP 133.1 billion, compared to EGP 102.3 billion in the same quarter of the previous year.
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Egypt received €1 bln first tranche of EU €7.4 bln financing package
On 20 December, the EU approved the disbursement of the first tranche to Egypt as part of its macro-financial assistance (MFA) to the country.
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Egyptian Investments in Africa Surpass USD 14 Billion
Foreign minister Badr Abdelatty noted that the figure reflects Egypt’s commitment to fostering economic growth across Africa.
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Egypt real GDP growth recovers to 3.5% in Q1 FY24/25
The real GDP growth rate recovered to 3.5 percent during the first quarter (Q1) of the fiscal year (FY) 2024/2025, from 1 July to 30 September.
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Private sector investments in Egypt surges to LE 133.1B during FY 2024/2025
Public investments experienced a sharp decline, contracting by 60.5 percent to LE 57 billion, down from LE 144.4 billion in Q1 of FY 2023/2024.
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Egypt central bank sells $840 mln in USD-denominated T-bills
The Central Bank of Egypt (CBE) announced on its website that it sold $840 million in USD-denominated treasury bills (T-bills) with a 364-day maturity
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Foreign Direct Investments surged 11-fold during FY2023/2024
This growth highlights Egypt's growing attractiveness to international investors. The country drew in $46.1 billion in FDI.
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Egypt's total investments hit LE 1.6 trillion with 98.5% implementation rate
significant investments in social development, including LE 11.5 billion for the construction and renovation of 23 hospitals and health centers.
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CBE extends exemption from transfer fees on InstaPay for 3 months
These services provide numerous benefits, including convenient and timely access to banking services anywhere.
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AfDB agreement to support private sector development program approved by Parliament
Al-Mashat explained that the main goals of the Private Sector Development and Economic Diversification Program are twofold.
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Egypt accomplished 98.5% of its FY23/24 investment target
The total investments executed in the fiscal year 2023/2024, which ended on 30 June, reached 98.5 percent of the targeted EGP 1.65 trillion.