Finance News
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Egypt’s external debt recorded $164.7bn end of June rising 5.8% Y-o-Y: CBE
Long-term debt accounted for $136.6bn, whereas short-term debt accounted for $28.1bn.
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Egypt's $3 billion loan programme to advance soon: IMF managing director
The International Monetary Fund (IMF) is on the verge of advancing with the next steps in Egypt's $3 billion loan programme shortly.
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Dollar rate in Egypt’s black market sees sudden, significant decline
During November, the dollar recorded successive jumps in black market transactions, reaching 52 pounds due to a sudden increase in demand.
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President El Sisi Receives IMF Director
Fahmy said that President El Sisi, and Georgieva reviewed the mutual ties between Egypt and the IMF.
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UAE and Kuwait extending deposits reveals confidence in Egypt’s economy
Shawky pointed out that before coronavirus pandemic, Egypt’s foreign currency reserve amounted to about $45 billion.
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AfDB commits $168mln for SMEs and trade boost in Egypt and Nigeria
The AFDB granted a financial package of $148 million to the Commercial International Bank of Egypt (CIB).
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Disruptech Ventures invests in Banknbox, leading fintech company
The investment will facilitate Banknbox’s expansion into new markets, and enhance its capabilities to meet evolving customer needs.
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Egyptian Finance Ministry plans EGP 388.75bn worth T-bills, bonds auctions in December
The Central Bank of Egypt (CBE), acting on behalf of the government, plans to hold 16 T-bills auctions totalling EGP 376bn in December.
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UAE renews $1 bln deposit at Central Bank of Egypt
The UAE has renewed a $1 billion deposit at the Central Bank of Egypt (CBE) for three years to 1 July 2026 instead of 1 July 2023.
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AfDB supports CIB with $148M to prop up SMEs and trade
The AfDB clarified that the instruments and amounts include $10 million Line of credit with a tenor of 10 years.
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Top 10 leasing companies in Egypt
Leasing instead of buying assets can offer several advantages for a company, mainly regarding financial flexibility.
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E-payment giant MasterCard inks MoU to digitalize SMEs in Egypt
Global payment technology company MasterCard signed a memorandum of understanding (MoU) with Egyptian e-commerce platform MaxAB.
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EBRD eyes minority stakes in two banks under Egypt's IPO programme
EBRD is seeking the acquisition of minority stakes in state-owned financial institutions earmarked for privatization in Egypt.
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MSMEDA provides LE 4.1B to fund 128k projects over 10 months in 2023
In terms of supporting small-scale initiatives in North Sinai, Rahmy revealed that MSMEDA invested EGP 240 million in 15,600 projects.
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AfDB approves of new $131M loan to boost economic resilience
The AfDB loan will help Egypt’s goal of attracting $3 billion in financing by the year’s end to bridge a $17 billion financing gap over 4 years.
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FABMISR reports net profits of EGP 8.2bln for nine-month period ending in September 2023
The net loan portfolio's value recorded EGP 82.935 billion, a 70% increase compared to the end of 2022.
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Egypt's “e-finance” Signs Cooperation Protocol with IBM to Establish Digital Banking Platform
The platform aims to provide and make digital systems and services available to banks and financial institutions.
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AfDB approves $131 mln loan to boost Egypt's private sector, green development
The African Development Bank (AfDB) approved a $131 million loan to Egypt with the aim of bolstering the government’s efforts to boost private sector.
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Factbox: Hassan Abdalla's monetary policy as head of CBE
Egyptian President Abdel-Fattah El-Sisi recently decreed the formation of a new board of directors for the Central Bank of Egypt (CBE).
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Egypt launches Golden License portal: How to apply?
Egypt’s General Authority for Investments and Free Zone (GAFI) announced launching the first phase of the single-window approval “Golden License”.