Day: October 5, 2026

Prime Minister Mostafa Madbouly met with officials from ACWA Power to review the latest developments in cooperation on seawater desalination projects, as Egypt seeks to expand its desalination capacity and localise related industries. The meeting was held at the government headquarters in the New Capital and was attended by Samir…

Prime Minister Mostafa Madbouly reviewed the main pillars of Egypt’s foreign direct investment (FDI) strategy for 2027–2030 during a meeting with senior investment officials. The meeting was attended by Mohamed Farid, Minister of Investment and Foreign Trade; Mohamed Awad, CEO of the General Authority for Investment and Free Zones (GAFI);…

The Financial Regulatory Authority (FRA), chaired by Islam Azzam, approved the establishment, registration, and licensing of 12 companies and entities to conduct non-banking financial activities, including investment funds and specialised companies operating in several areas. The decisions form part of the authority’s efforts to expand the base of companies operating…

The National Bank of Egypt (NBE) reported a net profit after tax of EGP 175.5bn for the financial year ending Dec. 31, 2025, up from EGP 133.3bn the previous year, the bank announced following its general assembly meeting on Monday.   The bank recorded a pre-tax profit of EGP 312.5bn…

Egypt and South Africa are exploring opportunities to deepen industrial integration and expand joint investments in key sectors, particularly automotive manufacturing and components, pharmaceuticals, metals, agro-processing, and logistics infrastructure. The discussions took place during a meeting between Egyptian Minister of Industry Khaled Hashem and South African Minister of Trade, Industry…

Islam Azzam, Chairperson of the Financial Regulatory Authority (FRA), has issued a circular to insurance companies aimed at enhancing disclosure and transparency for insurance policies incorporating investment strategies linked to gold, as part of the authority’s efforts to strengthen market oversight and protect customers’ rights across non-banking financial activities. The…

Commercial International Bank (Egypt), or CIB, has signed a cornerstone investment agreement to purchase up to EGP 2bn in shares during the proposed offering and Egyptian Exchange listing of MNT Tech Holding for Financial Investments S.A.E. (MNT-Halan). Under the agreement with MNT-Halan and MNT Investments B.V., CIB has committed to…

The Egyptian Natural Gas Holding Company (EGAS) and Chevron have signed a new agreement with a minimum investment of $88m to explore and exploit natural gas and crude oil in the Mediterranean Sea’s offshore Lotus block. The agreement, signed by EGAS Executive Managing Director Sayed Selim and Chevron’s Exploration Manager…

The Commercial International Bank (CIB) – Egypt has launched a free training programme on Udemy aimed at enhancing young people’s understanding of financial inclusion and its role in supporting economic development and digital transformation. The programme is part of efforts to promote financial literacy in line with the state’s efforts…