Day: December 2, 2023

Egypt’s Finance Ministry intends to conduct 24 auctions for treasury bills and bonds (T-bills and T-bonds) worth EGP 388.75bn in December. This forms part of a broader strategy to raise EGP 1.2635trn from the domestic market in the second quarter of the fiscal year (FY) 2023/24 to cover maturing debt…

The Engineering Export Council of Egypt (EECE) has announced that engineering exports increased by an impressive 8.5% during the period from January to October 2023 (10M 2023), reaching $3.516bn compared to $3.241bn in the same period last year. This significant growth is a testament to the resilience and adaptability of…

Egypt’s Minister of Environment, Yasmine Fouad, highlighted the debt burden of developing nations as she delivered Egypt’s speech at the high-level event of the global climate inventory on the sidelines of COP28, in the UAE, on behalf of President Abdel Fattah Al-Sisi. Fouad, speaking on behalf of President Al-Sisi, emphasized…

Disruptech, a prominent venture capital firm in Egypt’s financial technology sector, has announced a strategic investment in Banknbox, a leading provider of banking solutions, electronic payments, smart transportation tech, and digital government payment solutions. This strategic partnership aims to introduce innovative services and unprecedented integrated solutions for banks and financial…

Arab countries need to step up their climate adaptation efforts, transition to environmentally friendly energy production, and align public budgets with Sustainable Development Goals (SDGs), including climate targets, according to Mahmoud Mohieldin, UN Climate Change High-Level Champion for Egypt and UN Special Envoy on Financing 2030 Sustainable Development Agenda. Mohieldin…

In a significant step forward in the fight against climate change, the Global Capacity Building Coalition (was launched Saturday at COP28. This unprecedented global collaboration will work to significantly increase the availability and effectiveness of climate finance technical assistance programs for financial institutions in emerging markets and developing economies (EMDEs).…

Waleed Gamal El-Dien, Chairperson of the General Authority for the Suez Canal Economic Zone (SCZONE), kicked off his participation at COP28 in the UAE by engaging in a series of meetings with major international companies eager to explore investment opportunities within the economic zone. Gamal El-Dien met with representatives of…

The Business & Philanthropy Climate Forum, COP28’s dedicated platform for private sector engagement, concluded its first day with a series of transformative climate and nature initiatives and commitments totalling $5bn in collective funding. The Forum, held across the COP28 Blue Zone and Green Zone, brought together over 1,300 key stakeholders,…

Catalyst Capital Egypt (CCE), the first impact investing fund in Egypt and the Middle East, in collaboration with the United Nations Development Programme (UNDP) in Egypt, announced the deployment of EGP100m in Alexandria for Industrial Development (AID). This strategic partnership aims to advance sustainable development in Egypt and attract foreign…

Banking experts said that the UAE and Kuwait’s extension of the deadline for deposits due soon to 2024 and 2026 contributes to supporting cash reserves at the Central Bank of Egypt, and comes in light of the major role played by Arab countries in supporting the Egyptian economy in light…