Day: March 23, 2025

Egypt’s Minister of Water Resources and Irrigation, Hani Sewilam, led the 2025 World Water Day celebration on Saturday evening, organized by the Ministry of Water Resources and Irrigation in collaboration with the European Union Delegation in Egypt. The event was centered around the theme “Preserving Glaciers,” drawing attention to the…

The Suez Canal Economic Zone (SCZONE) has officially launched a pilot digital service package aimed at enhancing the experience for investors. This marks the first phase in a broader effort to digitize various services offered by the SCZONE. The digital platform will include two key Investor Relations Management (CRM) services:…

Mona Zulficar, Chairperson of the Egyptian Federation for Financing Medium, Small, and Micro Projects (MSMEF), announced that Egypt’s microfinance sector has seen significant growth in 2024, with total financing balances nearing EGP 100bn by the end of the year. This growth has been attributed to improvements in the regulatory and…

The Financial Regulatory Authority (FRA) has reported that licenced microfinance companies and associations provided a total of EGP 80.409bn in funding to micro, small, and medium enterprises (MSMEs) in January 2025. This represents a significant increase compared to EGP 58.881bn in January 2024. According to the FRA’s latest report, the…

Egypt is accelerating the development of its Bus Rapid Transit (BRT) system around Greater Cairo and the expansion of the Cairo Metro’s Line 4, aiming to complete key phases before the scheduled opening of the Grand Egyptian Museum (GEM) on July 3rd. Minister of Industry, Transport and Deputy Prime Minister…

Prime Minister Mostafa Madbouly chaired a meeting of the ministerial group for industrial development, which was attended by key ministers from Egypt’s economic group and other relevant authorities. During this session, approval was granted for a new project under the private free zone system: Alstom Railways Components Manufacturing S.A.E., which…

Valero Developments has announced a strategic partnership with Sabbour Consulting and Distance Studio Consultants (DSC) to oversee the design and quality supervision of its latest project, CITALIA, located in New Obour City. The project is set to achieve targeted sales of EGP 3.2bn. Ahmed Abdel Salam, CEO of Valero Developments,…

Sinai Cement has reported massive growth across multiple performance metrics for 2024, achieving a net profit of EGP 3.077bn, a remarkable recovery from a net loss of EGP 121.419m in 2023. The company also recorded a standalone net profit of approximately EGP 3.072bn, reflecting its robust financial health and operational…

Il Cazar has announced the acquisition of two significant land plots as part of its strategy to expand its portfolio of integrated residential and tourism projects. The company has secured an 80-feddan plot of land near the Shooting Club in Sheikh Zayed City, with plans to officially launch the project…