Month: December 2023

Egypt is where culinary traditions are deeply rooted, Ragab El Attar stands tall as a 100% Egyptian company that has been shaping the world of the spices and nuts industry since its beginning in 1965. The company showcased its finest products and revealed new additions at the prestigious Food Africa…

Angolan Minister of Foreign Affairs Téte António emphasized the importance of implementing the chain of command in the A3 Mechanism for the reform of the UN Security Council. He addressed Africa’s role in the Council in the first panel of a high-level seminar on peace and security in Africa in…

The International Monetary Fund’s (IMF) board has approved the disbursement of $150.5m for Tanzania’s budget support, as part of its $1.04bn Extended Credit Facility (ECF) that was approved in July 2022. This comes after the completion of the programme’s second review, which increased Tanzania’s total access under the arrangement to…

The United Nations Development Programme (UNDP) in Egypt and the Misr El Kheir Foundation (MEK) have signed a Memorandum of Understanding (MoU) to collaborate on technology and innovations, especially for non-governmental organizations and relief efforts. The MoU builds on the past cooperation between the organizations, and reaffirms their joint commitment…

IFC, the private-sector arm of the World Bank, is injecting $50m into A.P. Moller Capital’s $1bn Emerging Markets Infrastructure Fund II (EMIF II), joining forces with a global consortium to plug critical infrastructure gaps in Asia and Africa.  This strategic investment aims to unlock trade, power economic growth, and tackle…

The festive season is a time of joy, celebration, and creating wonderful memories with loved ones. If you’re looking for the perfect destination to immerse yourself in the Christmas spirit and welcome the new year in style, look no further than the Grand Nile Tower Hotel in Cairo where you…

Egypt received US$8.8 billion in external financing for the government and private sectors in 2023, a decrease of 35.7 percent fro 2022, according to Minister of International Cooperation Rania al-Mashat. During a press conference on Sunday, she added that the current portfolio with development partners currently amounts to $26 billion,…

The Central Bank of Egypt (CBE) announced that banks operating in the Egyptian market achieved net profits of approximately EGP 212.582bn in the first 9 months of 2023 (9M 2023). According to the CBE’s report released on Monday, banks’ net revenue reached EGP 411.905bn at the end of September 2023,…

B.TECH, Egypt’s leading integrated omnichannel retailer and consumer finance platform, and the Commercial International Bank (CIB), announced the completion of the second securitization bond issuance worth close to EGP 1 billion. The issuance was split into two different tranches with varying tenors, payment priorities, credit ratings, and interest rates. This…