Day: March 2, 2025

The Islamic banking sector in Egypt reached EGP 1.14trn in 2024, representing approximately 5% of the total banking market, according to Mohamed El-Beltagy, Chairperson of the Egyptian Islamic Finance Association (EIFA). This marks an increase of EGP 412bn compared to December 2023, reflecting a strong 68% growth rate. Egypt’s banking…

In Kenya’s Bomet and Homabay Counties, smallholder bean farmers are adopting innovative and sustainable agricultural techniques to bolster resilience and increase production in the face of climate change. By integrating beneficial insects such as bees and diversifying their farms with fruit trees including mangoes, avocados and oranges, these farmers are…

Mohamed El-Shimy, Egypt’s Minister of Public Enterprises Sector, met with a delegation from Turkish industrial zone developer Polaris Parks to discuss potential collaboration in industrial development. The delegation, led by Chairperson Tunç Özkan and accompanied by Executive Managing Director Osman Evren and General Manager Basil Shaera, explored opportunities for cooperation…

The Egyptian government, in its ongoing efforts to expand exports to European and global markets and strengthen the national economy, has launched a Ro-Ro (roll-on/roll-off) shipping line between Damietta Port and Italy’s Trieste Port. The first voyage of this initiative set sail on 28 November. In a statement issued on…

Prime Minister Mostafa Madbouly on Sunday met with Mahmoud Essmat, Minister of Electricity and Renewable Energy, and Hassan El-Khatib, Minister of Investment and Foreign Trade, to discuss and review several joint projects. The meeting took place at the New Administrative Capital. Earlier on Sunday, Madbouly met with El-Khatib to follow…

The MarQ Communities has begun handing over the first batch of residential units at The MarQ Gardens, its flagship project in New Cairo. During a press conference, Amr Badr, Chairperson and CEO of The MarQ Communities, announced that the company is set to complete the delivery of all units at…

Ahmed Abdel Salam, CEO of Valero Developments, has announced that the company targets to expand its investment portfolio to EGP 3.2bn in the second quarter (Q2) of the year. Valero Developments currently owns three projects in Obour City, catering to different market segments. Two of these projects are commercial and…

Reportage Egypt aims to achieve EGP 6bn in sales in 2025, doubling its success from the previous year, according to Eslam Hammam, Regional Chief Commercial Officer at Reportage Properties. The company recorded EGP 3bn in sales from its flagship project, Montenapoleone, in East Cairo. Spanning 465,000 square meters (111 feddans),…

Mai Abdel Hamid, CEO of the Social Housing and Mortgage Finance Fund (SHMFF), announced that total mortgage financing in Egypt has reached approximately EGP 81.22bn, benefiting 617,500 recipients through 22 banks and eight mortgage finance companies. She noted that direct cash subsidies granted to beneficiaries amounted to EGP 10.13bn, with…