Day: August 8, 2024

Inflation in the Common Market for Eastern and Southern Africa (COMESA) eased slightly in June but remained at a lofty 23.2%, regional data showed Tuesday. The year-on-year, inflation rate, measured by the Harmonized Consumer Price Index (HCPI-COMESA) registered 23.7% in May. A year earlier, the rate was 29.2%. The month-on-month…

T-Vencubator, a prominent Egyptian venture capital (VC) firm and incubator, has launched its inaugural investment program, “Where’s the Problem?”. This initiative marks a significant development in the country’s startup ecosystem by aiming to bridge the funding gap and offer crucial expertise to aspiring entrepreneurs. The program serves as an open…

Minister of Petroleum and Mineral Resources Karim Badawi received Sheikh Mohammed Saeed Al-Dhanhani, Head of the Government of Fujairah in the United Arab Emirates, and his accompanying delegation at the ministry’s headquarters in New Alamein. During the meeting, they discussed ways to enhance petroleum cooperation and explore available investment opportunities…

Basel Rahmi, CEO of the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), witnessed the signing of a new micro-financing agreement with Cash Microfinance worth EGP 100m. The contract was signed by Nevine Badr El-Din, Head of the Central Microfinance Sector at MSMEDA, and Marcos Selib, CEO and Managing Director…

Mahmoud Esmat, Minister of Electricity and Renewable Energy, met with Guido Clary, the Regional President of the European Investment Bank (EIB), and his accompanying delegation. The discussion focused on ways to support and enhance cooperation between the electricity sector and the bank, particularly in the areas of electrical interconnection and…

Egypt’s Planning and Finance ministers met virtually on Wednesday to discuss ways to improve the performance of the country’s state-owned companies. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, and Ahmed Kouchouk, Minister of Finance, chaired the technical secretariat meeting of the Supreme Committee for Economic Bodies. Also…

Egyptian Prime Minister Mostafa Madbouly has presided over the signing ceremony of a Memorandum of Understanding at the New Alamein City government headquarters to become a regional petroleum hub with the UAE. This landmark agreement between Egypt and the UAE aims to replicate the successful integrated petroleum system of Fujairah…

Beltone Holding, a rapidly growing financial institution, has officially obtained a small and medium enterprise (SME) finance licence from the Financial Regulatory Authority. This significant milestone underscores Beltone’s commitment to serving the needs and growing demand of SMEs in Egypt and the region. The SME finance licence complements Beltone’s offerings…

Arab Organization for Industrialization (AOI) has localised the manufacturing of cellular towers in Egypt. This was revealed as Mokhtar Abdel Latif, Chairperson of the AOI, inaugurated the Cellular Tower Manufacturing Center at the Aircraft Factory of the organization. The event was attended by Abdul Rahman Osman, General Manager of the…

Egypt’s Prime Minister Mostafa Madbouly held a meeting at the government headquarters in New Alamein, on Wednesday, to follow up on procedures for delivering the first phase of the Ras El Hekma City development project and distributing compensations to the eligible beneficiaries. At the beginning of the meeting, the Prime…