Category: News

Egyptian real estate developer M squared has awarded a construction contract worth EGP 1bn to REDCON Construction to execute and complete 59 residential buildings at its Masyaf Ras El Hekma project on the North Coast. The 18-month contract covers the delivery of 376 residential units, including lagoon townhouses, twin houses,…

Egyptian President Abdel Fattah Al-Sisi met with Prime Minister Mostafa Madbouly and Minister of Transport Kamel Al-Wazir to review plans for developing Damietta Port and other major transport projects. According to the presidency, the meeting covered the comprehensive plan for upgrading Damietta Port, as well as progress on expanding and…

Egypt’s ready-made garments sector recorded solid growth at the start of 2026, with exports rising by 11% year-on-year in January, according to the Apparel Export Council of Egypt (AECE). Export shipments reached $299m in January 2026, compared with $270m in the same month of 2025, reflecting continued momentum in one…

Egypt is intensifying efforts to strengthen pharmaceutical research and innovation through closer cooperation with Takeda Pharmaceutical Company, as part of a broader strategy to enhance the country’s healthcare and drug development ecosystem. The Egyptian Drug Authority (EDA) held high-level talks with a senior delegation from Takeda to discuss expanding collaboration…

Heba Salama, CEO of the Common Market for Eastern and Southern Africa (COMESA) Regional Investment Agency, highlighted the strong growth of foreign direct investment (FDI) into COMESA member states, underscoring the region’s rising attractiveness as a global investment destination. Speaking at the opening session of the second COMESA Investment Forum…

Majid Al Futtaim reported record financial results for the full year 2025, driven by strong operational performance, disciplined capital management, and sustained demand across its core businesses. The group delivered double-digit growth in profitability and strengthened its balance sheet to the healthiest position in over a decade. In December 2025,…

Arab African International Bank (AAIB) reported strong financial results for 2025, achieving solid profitability and significant balance sheet expansion despite a gradually easing interest rate environment, as it concluded a far-reaching institutional turnaround. Tamer Waheed, Vice-Chairperson and Managing Director, said the bank had completed one of its most significant transformations…

Amid mounting financing needs and dwindling concessional resources, Islamic finance is gaining ground across Africa. Backed in part by Gulf-based actors, it nonetheless reflects very different realities, ranging from commercial banks embedded in local economies to development institutions focused on sovereign borrowers and public policy. Commercial Islamic banks: what exactly…

Talaat Moustafa Group (TMG) Holding has been ranked as the largest listed real estate developer in Egypt for 2026 by Forbes Middle East, following a year of increased market valuation and regional project expansion. The ranking, part of Forbes’ list of the top 50 companies in Egypt by market value,…