Day: November 25, 2024

BM Consumer Finance (Souhoola), a consumer finance company, has completed ab EGP 478m (approximately $15.7m) securitized bond issuance in three tranches, the company announced. CI Capital acted as the issuance manager and principal coordinator for the transaction. The issuance, Souhoola’s first, is intended to support the company’s growth and expansion…

Henfra, a prominent Polish company, is set to invest $1.6bn in the establishment of a green ammonia production facility in Egypt, with total investments expected to reach $10.6bn as the facility’s capacity grows to one million tonnes annually. In a recent meeting in Cairo, Henfra’s founder and CEO, Tomoho Omida,…

Basel Rahmy, CEO of Egypt’s Micro, Small, and Medium Enterprises Development Agency (MSMEDA), announced Monday that the agency partnered with several banks to provide Islamic financing solutions for small enterprises. These banks include Faisal Islamic Bank of Egypt, United Bank, Al Baraka Bank, and the National Bank of Egypt. Speaking…

Mohamed Farid, Chairperson of the Financial Regulatory Authority (FRA), has highlighted the importance of securitization mechanisms for real estate companies, citing the New Urban Communities Authority (NUCA) as an example. He revealed that NUCA had issued securitization bonds exceeding EGP 40bn, providing liquidity to support its activities and drive urban…

President Abdel Fattah Al-Sisi met Monday with Prime Minister Mostafa Madbouly and Central Bank of Egypt Governor Hassan Abdalla to review Egypt’s macroeconomic indicators. The meeting followed a recent visit by the International Monetary Fund (IMF) and its reaffirmation of support for the country’s economic reform efforts. The president received…

Chairperson of Al Ahly Sabbour Developments, Ahmed Sabbour, emphasized that investors have become a central focus of global attention. They are the driving force that elevates the economy to higher efficiency, significantly contributing to international production through investments that ultimately benefit the state. This impact is evident in economic growth,…

The Arab African International Bank (AAIB) has issued a $500m sustainability bond, backed by investments from IFC, the European Bank for Reconstruction and Development (EBRD), and British International Investment (BII). This initiative aims to advance Egypt’s green transition while supporting micro, small, and medium-sized enterprises (MSMEs). This landmark sustainability bond…

The International Finance Corporation (IFC) has announced a $150m financing package for Egypt’s Commercial International Bank (CIB) to support micro, small, and medium enterprises (MSMEs), with a particular focus on women-owned businesses. The loan aims to bolster Egypt’s financial sector, foster job creation, drive economic development, and address the gender…

Egypt and the International Finance Corporation (IFC) are strengthening their partnership, with the IFC investing approximately $600m in three major Egyptian private sector companies. This was announced following a meeting between Minister of Planning and Economic Development and International Cooperation Rania Al-Mashat and IFC Vice President for Africa Sérgio Pimenta…

Talaat Moustafa Group (TMG) launched its first-ever residents’ cycling marathon, promoting health and fitness among its community members. The initial stage of the multi-stage event took place at Celia, the group’s flagship development in Egypt’s New Administrative Capital. Hundreds of residents of various ages participated in the marathon, which took…