Day: December 3, 2024

The African Conference on Precision Agriculture (AfCPA), a transformative event aimed at driving agricultural innovation across the continent, has launched simultaneously in 10 African nations, with Egypt taking a prominent role as one of the satellite hosts. The Egyptian session, organized by the National Authority for Remote Sensing and Space…

As part of Egypt’s efforts to deepen economic collaboration with African nations, the Central Bank of Egypt (CBE) has joined the Pan-African Payment and Settlement System (PAPSS). Developed by the African Export-Import Bank (Afreximbank), PAPSS streamlines cross-border payments and trade transactions, reducing costs and processing times while fostering stronger economic…

Egypt’s external debt skyrocketed by 307%, while its Gross National Income (GNI) rose by 69%, according to the World Bank’s International Debt Report 2023. Among Low- and Middle-Income Countries (LMICs), Egypt recorded a $17.4bn short-term debt inflow in 2022, representing a staggering 19-fold increase from 2021 levels. The report highlighted…

Egypt’s Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, has held pivotal meetings with international leaders in railway and smart transportation during his visit to Italy. These discussions aimed to accelerate Egypt’s transport modernization and strengthen partnerships with global industry giants. Al-Wazir began his…

The Engineering Export Council of Egypt (EECE) has launched a trade mission to Algeria, comprising representatives from 12 Egyptian companies. This initiative aims to expand exports to Algeria and other North African markets, aligning with the Council’s strategy to drive export growth and achieve sustainable economic development. Mai Helmy, Executive…

Rasha Abdel Aal, Head of the Egyptian Tax Authority (ETA), has announced the establishment of a permanent Advance Ruling Unit, marking a significant step in the Ministry of Finance’s efforts to promote transparency and facilitate taxpayer and investor support. This initiative, part of a broader suite of tax reforms, aims…

The Financial Regulatory Authority (FRA) has announced that entities under its supervision provided a total of EGP 646.6bn in funding during the first nine months of the year. This figure includes capital market activities and non-banking financial services. The FRA’s statement revealed the allocation of this funding: stock issuances accounted…

Expert-level meetings for the third session of the Egyptian-Tajik Joint Committee for Economic, Scientific, and Technical Cooperation commenced in Dushanbe, Tajikistan. The meetings are preparatory for a ministerial-level session scheduled for Wednesday. This initiative is part of the Egyptian Ministry of Planning and Economic Development and International Cooperation’s broader strategy…

Bassel Rahmi, CEO of the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), has announced that between January and October 2024, the agency funded 76,200 MSMEs with loans totaling EGP 5.3bn. This funding facilitated the creation of approximately 257,900 jobs. The announcement came during Rahmi’s meeting with Prime Minister Mostafa…

The Regional Office for Africa of the United Nations Environment Programme (UNEP), in partnership with the Sustainability in Africa Programme of the Centre for Environment and Development for the Arab Region and Europe (CEDARE), organized the second roundtable of the African Forum of Environmental Protection Agencies (AFEPA), which will run…