Finance News
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Fawry cooperates with LA Market to empower local brands in Egypt
As the first choice in the electronic payments market, "Fawry" seeks to support women empowerment initiatives within the region.
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EBRD to provide US$50 million loan for support small, medium enterprises in Egypt
This package contributes to increasing access to financing for small, medium and micro enterprises and expanding their reach to new clients.
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Egypt in talks with IMF to get $10 billion assistance, as rates are hiked by 200 bps
A move that surprised economic analysts and is targeted at dropping the country’s inflation rate of 34%.
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Financial inclusion rates surge to 70.7% by end 2023: CBE
The Central Bank of Egypt (CBE) released the core set of financial inclusion indicators for 2023, highlighting a notable rise in inclusion rates.
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Egypt’s GDP to climb to 5.1 percent by 2025: OECD
The report suggests the growth will be driven by growing consumption if inflation declines and fiscal support gradually withdraws.
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Mashrouak national project to lend youth hits record EGP 200 mln in January
Egypt's national project to provide employment opportunities for youth, Mashrouak, achieved its highest lending rate since its launch in 2015.
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AWIU devises list for trade exchange in local currencies with BRICS
Yassa explained that this list includes furniture, textiles, ready-made clothing, and disinfectants – especially those designated for hospitals.
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Egypt targets 4.2% growth for the next fiscal year: Minister
This exceeds the expectations of the World Bank, which estimates that growth will reach 3.9 percent.
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Presidential Decree renewing appointment of Khairat Barakat as CAPMAS Chairman
Khairat Barakat is appointed Chairman of the Central Agency for Public Mobilization and Statistics (CAPMAS) for a new one-year term as of 14/2/2024.
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Egypt’s Instapay Breaks New Ground with Interactive 3D Advertising
Instapay, Egypt’s leading digital payments innovator, is poised to change the face of advertising with the country’s first-ever 3D ‘out-of-home.
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Tax Policy Strategy 2024/2030 to be submitted to Egypt’s National Dialogue next week
The second round of the National Dialogue will kick off Sunday, with a focus on the serious economic issues that Egypt is experiencing.
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CBE provides US$100 million to help provide basic commodities
This meeting comes in order discuss providing the dollar component needed for basic commodities, especially cooking oil, powdered milk, and more.
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30 million dollars to support small and medium enterprises in Egypt
ICD has provided $315 million in financing to Egypt, supporting private sector companies, financing lines to banks, and direct investments.
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Emigration ministry presents alternative tracks to increase dollar transfers from Egyptian expats
The ministry is keen on effective and continuous communication with the Egyptians and Egyptian investors abroad to solve their problems.
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Egypt Post to inject LE 6B in direct investments during 2024
Farouk emphasized Egypt Post’s goal of achieving a 30 percent increase in net profits in 2024, targeting LE 5 billion.
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Egyptian banks’ high-yield saving certificates garner record EGP 642 billion in 6 weeks
According to the reports, the National Bank of Egypt (NBE) attracted EGP 450 billion and Banque Misr collected EGP 227 billion.
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CBE approves raising Vodafone’s share in Basata to 20%
The Central Bank of Egypt has approved raising the share of Vodafone Egypt at the e-payment services provider Basata Holding for Financial Payments.
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6 Insights into CBE's new rules for overseas credit card usage
Due to Egypt's foreign currency challenges and the need for stricter financial oversight, CBE implemented new rules for using credit cards abroad.
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Egypt Targets $6.5 bn in Privatisation Programme for 2024: Finance Minister
Currently, 35 entities and assets are on the government’s privatisation list. Reports suggest there are 61 others.
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End-to-end payment provider Tafweela launches in Egypt
Tafweela, an end-to-end payment ecosystem targeted at corporate fleets, announced on Tuesday its launch in the Egyptian market.