Non-banking financing reaches EGP 718bn in 10M 2024

Recent data from the Financial Regulatory Authority (FRA) reveals that non-banking financing activities in Egypt have reached EGP 718bn in the first 10 months of 2024. This figure encompasses financing provided through entities under FRA supervision, including capital market activities and other non-banking financial services. According to the FRA’s latest…

Egyptian PM reviews new Sphinx City development plans

Egyptian Prime Minister Mostafa Madbouly met on Sunday to discuss the progress of development plans for New Sphinx City. Minister of Housing, Utilities, and Urban Communities, Sherif El-Sherbiny, and Ahmed Moussa, Deputy Head of the New Urban Communities Authority for Planning and Projects, also attended the meeting. Madbouly emphasised the…

UNDP reaffirms strategic partnership with MSMEDA in 2025

Bassel Rahmy, CEO of the Micro, Small, and Medium Enterprise Development Authority (MSMEDA), emphasized the organization’s commitment to continuing collaboration with development partners to share expertise and international best practices in developing micro, small, and medium enterprises (MSMEs), in line with directives from Egypt’s Prime Minister and Chairperson of MSMEDA,…

Egypt targets mining sector contribution of 5-6% of GDP

Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi announced the resumption of development activities at the Zohr gas field, which will include drilling two developmental wells during January. The minister also revealed plans to launch the Mineral Resources Portal and offer several mining areas for investment in 2025, aiming…

Al-Sisi reviews progress on transport projects, industrial localization

President Abdel Fattah Al-Sisi held a meeting on Sunday with Prime Minister Mostafa Madbouly, Deputy Prime Minister for Industrial Development and Minister of Transport and Industry Kamel El-Wazir, and Amir Sayed Ahmed, the President’s Advisor for Urban Planning. During the meeting, President Al-Sisi was briefed on the latest developments in…
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