News
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BioBusiness manufactures 100% Egyptian ventilator
BioBusiness explained that the BioVENT A Series was manufactured in the factories of the Arab Organisation for Industrialisation as the partner.
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MDI aims to become Egypt’s first fully digital bank
A new banking challenger, Misr Digital Innovation (MDI), is gearing up for launch in Egypt as the country’s first fully digital bank.
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Egypt plans to issue Chinese Yuan-dominated bonds
Minister of Finance Mohamed Maait announced that the government is considering issuing Yuan-dominated bonds that will target Chinese market.
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Q&A on Egypt’s FY 2022/23 budget
On 1 July, Egypt’s FY 2022/23 budget will be rolled out with a total value of EGP 9.2 trillion, the highest in the country’s history, growing by 16.3.
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Egypt Outpacing Middle East and Africa’s Top Markets
Four years after Egypt enacted a new universal health law, the country’s pharmaceutical market has consolidated itself as the fastest growing in MENA.
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EBRD upgrades Egypt’s GDP growth forecasts in FY2021/22 by 0.8%
The European Bank for Reconstruction and Development (EBRD) raised its projections for Egypt’s GDP growth for the current FY2021/22 to 5.7 percent.
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Egypt’s non-oil economy continues to fall amid inflation
The reading still records under the 50 threshold limit, marking the second-fastest decline in business conditions since June 2020.
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Egyptian fintech Paymob snagged one of the largest funding deals in the region — a $50 million Series B
Egyptian fintech Paymob snagged one of the largest funding deals in the region — a $50 million Series B.
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28% rise in demand for cultural tourism, with 18% price hike
At the same time, the season also witnessed an increase in the average number of night-time tourism activities.
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Egypt to delay sale of state company shares until Sept
Egypt will delay the planned offering of shares on the stock exchange of a number of state companies until after the summer vacation.
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Industry federations deny halting buying, selling gold
The Federation of Egyptian Industries and the Federation of Egyptian Chamber of Commerce denied reports on halting buying and selling gold.
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Egypt, Mercedes-Benz discuss producing electric vehicles locally
Egyptian Minister of Trade and Industry Nevine Gamea and a delegation from Mercedes-Benz Egypt discussed boosting the company’s projects in Egypt.
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Egyptian MaaS startup Swvl enters Turkish markets
Swvl, has expanded into Turkey with its recent acquisition of Volt Lines, a B2B transportation-as-a-service operator.
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New project within Suez Canal Economic Zone
Total production capacity estimated at 740,000 tonnes per year after implementation of all phases.
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Egypt's 2022/23 draft budget insights
Egypt's House of Representatives – the lower chamber of parliament – voted in a plenary session on 17 April to send the draft 2022/23 budget.
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S&P affirms Egypt's credit rating at B/B with stable outlook
Both the short term rating and the local currency short term default rate stand at B, while the country ceiling is B+.
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Egypt halts importing products from 814 foreign and local factories
The companies in question did not provide the required documents, and so legal measures were taken to implement the rules of the registration system.
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Egypt to restore wheat supply to local bakeries
The Ministry of Supply and Internal Trade announced on Monday that it would reverse its decision to cut by 10 percent its supply of local wheat.
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The Food Lab, an Egyptian cloud kitchen provider, raises $4.5M pre-seed for expansion
Following two years of bootstrapping, the company has raised $4.5 million in pre-seed financing — its first venture round.
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Unilever: Our products are completely manufactured in Egypt
What some newspapers and news websites circulated about stopping the company's exports to the Egyptian market is not true.