Day: December 4, 2024

Consumer finance company Mid Takseet has rebranded as MOGO (Money on the GO) and significantly increased its capital to EGP 225m. The rebranding, which includes a shorter, more memorable name and streamlined application processes, aims to boost market share and attract new customers, aligning with Egypt’s Vision 2030 goals for…

Madinet Masr is expediting work on its Sarai project near the New Administrative Capital and Taj City in east Cairo, allocating EGP 10bn in capital expenditures to meet project timelines. The company successfully implemented its expansion strategy throughout 2024, launching five new phases across its Sarai project, spanning 5.5 million…

The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has provided approximately EGP 265m in funding to furniture manufacturers in Damietta over the past decade. According to Basel Rahmy, CEO of MSMEDA, this funding has facilitated the launch and growth of more than 6,000 small and micro projects, creating 19,563…

Algammal for Contracting, a major player in Egypt’s infrastructure sector, is significantly expanding its operations across various sectors, including electricity, water, sanitation, and renewable energy, according to Mohamed Farouk Hafeez, the company’s vice president.   The company is deeply involved in the Egypt-Saudi Arabia electricity interconnection project, handling three key…

Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, held key discussions with major Italian companies during his visit to Italy, focusing on industrial localization and potential factory investments in Egypt. As part of his visit, Al-Wazir toured Rome Termini Railway Station to exchange expertise…

Egypt plans to list three or four companies affiliated with the military on the Egyptian Exchange (EGX), Prime Minister Mostafa Madbouly announced at a press conference Wednesday. He said details of the planned listings would be released next week. This move, Madbouly explained, is part of a broader government strategy…

The Head of the Communications Committee in the House of Representatives Ahmed Badawi said that the launch of  eSIM service in Egypt during December has no direct relationship with the “InstaPay” application for money transfers. During a phone interview with MBC Masr channel on Tuesday, Badawi explained that InstaPay is…

ADIB-Egypt, the largest Islamic bank in Egypt by assets, deposits, and credit facilities, plans to invest EGP 1bn in technological infrastructure and digital transformation by 2025, CEO and Managing Director Mohamed Aly announced. This investment supports the bank’s ambitious growth strategy over the next five years, aligning with Egypt’s expanding…