Finance News
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Banks’ Finance Portfolios for MSMEs Grow 362% in 6 Years
CBE added the growth rates of financial inclusion for youth (age group from 16 to 35 years) reached about 48.5% during the period from 2020 to 2023.
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New directions for Egypt's economic ministries
3 ministers hold economic-related portfolios and they share their vision for the command.
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7 facts about the women entrepreneurs finance initiative
The Women Entrepreneurs Finance Initiative (We-Fi) represents a significant milestone in Egypt’s journey toward economic empowerment for women.
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Egypt's new finance minister pledges strong support for private sector growth
Kouchouk affirmed the government's commitment to stimulating private sector growth highlighting the ongoing structural reforms in Egypt's economy.
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CBE Governor signs agreement to launch Women Entrepreneurs Finance Initiative in Egypt
Abdalla praised the launch of We-Fi in Egypt, highlighting that it aligns with the state’s vision to promote women’s financial inclusion.
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SMEs acquire lion share of private sector in Egypt at 98%
Small and medium-sized enterprises (SMEs) acquire 98 percent of the private sector landscape in Egypt, employing over 47 million.
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EU financing package to catalyze €11 bln in FDIs into Egypt: Al-Mashat
Egypt's Minister of International Cooperation Rania Al-Mashat stated that the European Union’s €1.8 billion investment package to Egypt.
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Egypt to allow private sector to offer its goods on Mercantile Exchange
The EMX stopped offering and trading on three prominent strategic commodities (wheat, corn, and sugar) since the end of last year until now.
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Egypt external debt falls to 18-month low in Q1 2024
Egypt's external debt declined 4.4 percent (around $7.4 billion) reaching approximately $160.6 billion in the first quarter of 2024.
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EBRD, EU and GCF boost green and inclusive financing for Egyptian MSMEs
GEFF II loan to be accompanied by as much as €5.2 million in investment incentive grants from the European Union.
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Egypt sovereign fund expects relaunch of IPO program in October
Ayman Soliman, the CEO of The Sovereign Fund of Egypt (TSFE), has hinted at the relaunch of the country's Initial Public Offering (IPO) program.
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IMF Executive Board to discuss Egypt 3rd review under $8 bln EFF loan 10 July
Once approved by the Executive Board, the IMF will disburse $820 million as a third tranche of the loan to Egypt.
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EU companies to sign 40 billion euros' worth of deals with Egypt
Von der Leyen was speaking at the EU-Egypt Investment Conference in Cairo, where she also held talks with Egyptian President Abdel-Fattah el-Sissi.
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Egypt fulfills $25 billion debt obligations, representing 7 percent of GD
The IIF statement was based on a virtual meeting attended by 100 speakers and participants to discuss Egypt’s economic situation.
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Egypt’s FDI inflows drop 13.7 percent in 2023, North Africa sees 12 percent drop: Report
A major FDI push in Africa is the increase in mega greenfield projects with six projects each at a value of over $5 billion.
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Egypt, EU sign four financing deals at €300 mln on sidelines of investment conference in Cairo
The second agreement is titled: "EU support to youth employment and skills in Egypt program" at a total of €25 million.
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Egypt-Based Fintech Connect Money Secures $8 Million
The investment will support the company's efforts to expand its platform, with a focus on North Africa.
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Min. announces mobilization $2 bln to support Egypt's budget
The efforts also aimed at supporting the state’s general budget, and enhance flexibility macroeconomic competitiveness.
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Egypt's sovereign sub-fund for education to establish an investment company
El-Said emphasized that this year, 42 percent of government investments will be allocated to the education and health sectors.
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NBE, Banque Misr, CIB raise credit cards’ limits for int’l purchases inside, outside Egypt
Some state-owned and private banks in Egypt raised on Tuesday the limits of credit cards when being used abroad.