Year: 2025

Egypt expects its non-oil merchandise exports to reach between $48bn and $50bn by the end of the current year, marking a 20% annual growth rate, Prime Minister Mostafa Madbouly said on Wednesday. Speaking at a weekly press conference, Madbouly stated that non-oil exports recorded approximately $40bn in 2024. He affirmed…

IBF & Company has completed the acquisition of a 50% equity stake in Diatom CBT, a cross-border technology company operating in the UAE and Egypt, in a move aimed at strengthening its portfolio of technology-driven ventures and expanding its footprint in global e-commerce. The transaction marks a significant milestone in…

The African Development Fund (ADF), the concessional financing arm of the African Development Bank Group, has secured a record $11bn for its 17th replenishment (ADF-17)—the largest fundraising outcome in the Fund’s history—signalling a decisive shift toward investment-led development across the continent. Backed by 43 development partners, the replenishment reflects a…

Egypt’s Minister of Water Resources and Irrigation, Hany Sewilam, met on Wednesday with Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, and Minister of Agriculture, Alaa Farouk, to review joint projects and enhance coordination aimed at supporting water and agricultural systems while protecting road…

ElAraby Group announced during a press conference that it will formally conclude all industrial and commercial agreements with Toshiba Home Appliances by the end of 2025. The Group also unveiled nearly $500m in new investments and strategic partnerships in the manufacturing of home appliances, electronics and related components, in cooperation…

The Suez Canal Authority (SCA) is ready to open new markets and expand its presence across the African continent, Chairperson Osama Rabie said on Wednesday, as the authority signed a memorandum of understanding (MoU) with the Namibian Ports Authority to assist in port development and maritime training. The agreement, signed…

Manal Awad, Minister of Local Development and Acting Minister of Environment, held a meeting with a group of investors to discuss opportunities to expand sustainable environmental investment in Egypt’s natural reserves and to promote eco-tourism. The meeting was attended by the Head of the Environmental Affairs Agency, several ministerial assistants…

CAIRO, Dec 16 (MENA) – The government has set reducing public and external debt, along with lowering debt-servicing costs, as one of the key objectives of its current economic policy, Prime Minister Mostafa Madbouly said. Madbouly made the remarks while chairing a meeting of the External Debt Management and Borrowing…

Egypt has secured $9.5bn in concessional financing to support the state budget since the beginning of 2023, linked to structural and sectoral reforms, Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat said on Tuesday. Speaking at a conference on economic competitiveness, Al-Mashat stated that reforms supporting growth and…

Egyptian billionaire businessman Naguib Sawiris said he is interested in managing and operating three Egyptian airports, as the government moves ahead with plans to open airport operations to private-sector participation. Speaking on Tuesday at the Conference on the Competitiveness of the Egyptian Economy in Cairo, Sawiris said an Italian company…