Category: News

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…

Egypt has concluded the first phase of its five-year Country Programme with the Organisation for Economic Co-operation and Development (OECD), launching five major reports aimed at guiding structural economic and institutional reforms, Prime Minister Mostafa Madbouly announced. Speaking at a high-level conference in the New Administrative Capital attended by OECD…

Prime Minister Mostafa Madbouly held talks on Sunday, May 3, 2026, with executives from Italy’s Eni to discuss current operations and future investments, stressing Egypt’s commitment to a stable and attractive business climate. The meeting came during a visit to the offshore rig “Cairo-2” after it completed drilling the exploratory…

The Sovereign Fund of Egypt has selected investment bank EFG Hermes to manage the offering of an approximate 20% stake in state-owned Misr Life Insurance on the Egyptian Exchange. The target date for executing the offering is before the end of the second half of this year, according to estimates…

Egyptian President Abdel Fattah Al-Sisi reaffirmed Egypt’s full support for the African Development Bank Group (AfDB), stressing its crucial role in financing development and infrastructure projects across Africa amid growing economic and geopolitical challenges. In a statement, Egypt’s presidency said Al-Sisi met with African Development Bank Group President Sidi Ould…

Egypt’s economic trajectory is “reassuring” and maintains a strict balance between stimulating production and exports while ensuring fiscal discipline, Minister of Finance Ahmed Kouchouk said. Speaking at a new round of the Egyptian-European economic dialogue in Cairo, Kouchouk said the government has taken proactive measures to ensure a positive and…