Egypt targets start of gold production from Abu Marawat mine this year

Abu Marawat Gold Mines Company is targeting the start of commercial production in 2026, a move expected to boost Egypt’s gold output, attract further mining investments, create direct and indirect job opportunities and support economic and social development plans in the Red Sea and Qena governorates. In a statement issued…

MSMEDA, Tamweely sign EGP 350m agreements to finance 3,000 micro-enterprises

Bassel Rahmy, Chief Executive Officer of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), and Ahmed Khorshid, Chief Executive Officer, Managing Director and Deputy Chairman of Tamweely Financial Services, have signed two financing agreements under which MSMEDA will provide EGP 350m to Tamweely to implement two microfinance programmes. The…

Egypt’s GAFI, Enterprise Singapore discuss expanding investment cooperation

Egypt’s General Authority for Investment and Free Zones (GAFI) and Enterprise Singapore have discussed ways to strengthen bilateral investment cooperation and foster new business partnerships, as Egypt seeks to diversify its sources of foreign direct investment (FDI) and attract high-value projects. The discussions took place between Mohamed Awad, CEO of…

FRA grants 10 new licences across non-banking financial sectors

The Financial Regulatory Authority (FRA), chaired by Islam Azzam, has approved 10 new licences covering a range of non-banking financial activities as part of its ongoing efforts to enhance the quality, competitiveness and attractiveness of the sectors under its supervision, while expanding access to financial services. Among the approvals was…