Day: November 14, 2023

The African Export-Import Bank (Afreximbank) has provided a €175m dual tranche term loan facility to Mota-Engil Africa, a leading engineering and construction company in Africa. The facility will support Mota-Engil Africa’s investment obligations for the Lobito Railway Project, which aims to rehabilitate, expand, and develop the railway line connecting the…

Ali Basha, the Minister Plenipotentiary Head of Africa Department at Egyptian Commercial Service (ECS), said that intra-African trade is very low, accounting for only 16-17% of the continent’s foreign trade volume. He stressed the need to increase the efforts of all African countries to boost intra-trade and integration among them,…

Egypt’s Minister of International Cooperation Rania Al-Mashat and President of the African Export-Import Bank (Afreximbank) Benedict Oramah launched an online platform for engineering, procurement and construction contracts, during the third edition of the Intra-African Trade Fair (IATF), which is being held in Cairo under the patronage and presence of President…

The African Export-Import Bank (Afreximbank) has provided a credit facility of $500m to two Egyptian contractors, Elsewedy Electric Group and Arab Contractors, as part of the 3rd edition of the Intra-African Trade Fair (IATF2023). The bank has increased its existing Global Facility limits for Elsewedy Electric Group to $300m, which…

The Central Bank of Bahrain has given its approval for the registration of Azimut Gold Fund, an investment fund that allows Mubasher Capital Bahrain clients to invest in Egyptian pounds. This decision is part of Mubasher Capital’s efforts to offer more diverse and attractive investment options to its clients worldwide,…

The Commercial International Bank’s (CIB) stock has been making a comeback in the Egyptian stock market in the past week. The bank, which had lagged behind the main index, especially in the petrochemical sector, has regained some of its dominance. The bank has the largest share in the benchmark index…

Al Marasem Development has announced its latest masterpiece, Mar Ville, a truly integrated project nestled in the pristine new Sheikh Zayed City. The project spans 111 feddan and boasts investments worth EGP 24bn. It is designed by the renowned “Architecture Studio”, an international French office with over four decades of…

The Egyptian government has recently announced tax amendments on tobacco products, which affect the prices of Philip Morris Misr’s products. The company has updated its price list for all its conventional cigarettes and heated tobacco products and urges retailers and distributors to comply with the new prices. Philip Morris Misr’s…