News

Norway’s Scatec plans to inject up to $5bn in new investments into Egypt over the next two years, company officials announced. The new investment plan will target strategic sectors, including water desalination powered by renewable energy, green data centres, solar and wind power projects, energy storage systems, and infrastructure supporting…

Egypt’s parliament has granted final approval to the economic and social development plan for the 2026/27 fiscal year (FY), which targets a gross domestic product (GDP) of EGP 24.5trn, Minister of Planning and Economic Development Ahmad Rostom announced. The House of Representatives, chaired by Speaker Hesham Badawi, also passed the…

Prime Minister Mostafa Madbouly said partnerships between the Egyptian private sector and investors from sisterly countries reflect growing confidence in the Egyptian economy and underscore the market’s ability to attract more high-quality investments that support sustainable development goals. Madbouly made the remarks during a ceremony to sign an investment partnership…

The Central Bank of Egypt (CBE) has issued a directive requiring banks not to grant credit facilities to customers for the purpose of financing the capital of companies under incorporation, funding capital increases, or using bank financing to support cash dividend distributions or employee share award programmes. In a circular…

South Africa has completed technical preparations for proposed industrial and automotive cooperation protocols with Egypt, South African Minister of Trade, Industry and Competition Parks Tau said during bilateral talks in Cairo. The expansive discussions, which included Egyptian Minister of Investment and Foreign Trade Mohamed Farid Saleh and Egypt’s Minister of…