Day: May 4, 2026

Egypt’s Ministry of Health has discussed with the World Bank Group, including the International Finance Corporation (IFC), ways to deepen cooperation in the healthcare sector, with a focus on localising pharmaceutical production and improving service quality. Health Minister Khaled Abdel Ghaffar met with a World Bank delegation to review initiatives…

Egyptian President Abdel Fattah Al-Sisi met on Monday with the Organisation for Economic Co-operation and Development’s (OECD) Secretary-General Mathias Cormann in Cairo to discuss strengthening economic cooperation and advancing Egypt’s reform programme, with a particular focus on boosting private sector participation and attracting investment. According to the Egyptian presidency, Al-Sisi…

Egypt’s economic growth reached 5.3% in the first half of the current fiscal year, marking a broad and accelerating recovery across six consecutive quarters, Minister of Planning and Economic Development Ahmed Rostom said. Growth rose from 2.4% in fiscal year (FY) 2023/24 to 4.4% in FY 2024/25, before hitting the…

Investments in Egypt’s Suez Canal Economic Zone (SCZone) have reached $7.1bn so far in the current fiscal year, up from $4.4bn during the previous financial year, the authority’s chairperson said on Monday. The economic zone has succeeded in drawing a total of $16bn in investments from 28 countries over the…

Cairo for Investment and Development Company (CID) has launched a new offering of industrial units in the third phase of Robbiki Leather City, comprising 31 ready-to-operate production units and five service shops, as part of efforts to boost investment in Egypt’s leather manufacturing sector. The offering includes six factories of…

ABB Egypt has reported an annual turnover of approximately EGP 14bn, underscoring its sustained growth and deepening presence in the Egyptian market. Operating in Egypt since 1926, the company continues to play a pivotal role across the industrial and energy sectors, delivering automation and electrification solutions for both private enterprises…

Commercial International Bank (CIB) has completed its seventh securitisation issuance for Drive Finance, valued at EGP 2.175bn, reinforcing its commitment to supporting the company’s liquidity and expansion in the Egyptian market. The transaction brought together a consortium of financial institutions. CIB, alongside Arab African International Bank, acted as financial adviser,…

Egypt’s Ministry of Agriculture and Land Reclamation has allocated approximately EGP 10.562bn to 45,686 beneficiaries under the national veal project by the end of April, supporting the rearing of nearly 529,781 head of livestock. In April alone, the ministry approved EGP 211.32m in financing for 151 beneficiaries to raise and…

As gold prices continued to surge and fluctuate sharply in 2025 and 2026, more Egyptians turned to gold as a way to protect their savings — but that same surge has made it increasingly difficult to distinguish genuine pieces from counterfeits. Local prices have shown significant volatility, with 21-karat gold…