Finance News
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Egypt's New Partnership with BRICS: NDB Eyes Investment Opportunities
Egypt's official inclusion in the BRICS group in 2024 marks a new chapter in its economic journey, positioning the nation among other global players.
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Egypt’s Foreign Reserves Continue Upward Trend Reaching $48.14 Billion in April
December 2024 saw a further uptick to $47.1 billion, reflecting a $157 million gain from November’s $46.95 billion.
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FRA cautions citizens against fake investment platforms
The FRA noted a growing number of online ads and social media posts that entice citizens to commit funds to ventures lacking the necessary licenses.
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Understanding Egypt’s Approach to Hot Money and Economic Stability
“Hot money” describes the rapid movement of capital across international borders in pursuit of quick profits.
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Declining Sales, Rising Costs Contribute to Drop in Egypt’s PMI for April
The data pointed to a slowdown in the non-oil private sector, driven largely by reduced demand among non-oil companies.
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IMF noted to arrive this week for 5th review of $8B loan program
In March 2024, Egypt succeeded in expanding the IMF loan package from $3 billion to $8 billion.
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Egypt's MNT-Halan sells $50mln in local corporate bonds
The company says it has disbursed more than $11 billion in loans both inside and outside of Egypt.
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EBRD Investment in Egypt tops €13.8B
With over €13.8 billion invested in Egypt’s economy since 2012—more than 86 percent of it directed to the private sector.
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Egypt’s foreign assets rise by 47.5%reaching $15.04B in March
This positive trend signals a continued recovery following a substantial decline in net foreign assets over three months.
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MoneyFellows raises $13M to take its group savings model outside Egypt
The Cairo-based fintech says it’s ready to shift from steady growth to regional expansion.
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Fawry joins forces with Microsoft to drive digital transformation for Egyptian SMEs through Fawry Business
Fawry teams up with Microsoft to offer integrated financial and productivity tools for Egyptian SMEs via Fawry Business.
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FABMISR expands national footprint with 4 new branches across strategic locations
FABMISR opens 4 new branches in strategic locations across Egypt to grow customer reach and boost financial inclusion.
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Egypt’s rate cut on thin ice? IMF issues stark warning
The IMF urges Egypt to proceed cautiously with interest rate cuts amid global uncertainties, warning of potential inflation resurgence.
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Egypt targets 36% increase in PPP investments in current fiscal
Egypt plans a 36% rise in PPP investments this year with six projects worth EGP 27B to boost infrastructure and private sector cooperation.
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Banking leaders underscore crucial role of public-private partnerships in advancing development
At the Arab Banking Conference, Egyptian leaders stress PPPs' role in development, calling for innovative financing and risk-sharing models.
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Egyptian Fintech Bokra Issues $58.9M Sukuk to Boost Islamic Fintech
Egyptian fintech Bokra raises $58.9M through a Mudaraba Sukuk, expanding Islamic fintech and Sharia-compliant investment tools.
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CBE receives $1.17bn in bids for dollar-denominated T-bills auction
The proceeds will be used to repay a previous issuance from 30 April 2024, through which the Bank raised $997.6m.
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IMF and World Bank expect Egypt’s economic growth to increase
Mashat reviewed the most important economic developments, including the results of Egypt’s participation in the IMF Spring Meetings.
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Egypt’s Private Sector Investments Surge by Nearly 80 Percent Amid Economic Reforms
This is the highest rate seen in years, as a result of recent government reforms aimed at fostering competitive neutrality.
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MSMEDA injects $51mln to finance 130,000 SMEs in Fayoum
The meeting also witnessed the signing of two new contracts to finance microenterprises in Fayoum.