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Automation of Egypt’s customs sped up to reduce foreign trade costs: Minister

Egypt’s Minister of Finance Mohamed Maait said that the pace of the national project to modernise and automate the customs management system will be accelerated, in implementation of presidential…
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Central Bank of Egypt approves new interoperability rules

The Central Bank of Egypt last week approved new interoperability rules designed to make it easier for the public to deposit and withdraw money with any payment card or mobile wallet, regardless of…
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Russia to complete its industrial zone in Egypt’s Ain al-Sokhna within 5 months

Russia is expected to complete its long-awaited industrial zone in Egypt’s canal city of Ain al-Sokhna within the next five months, Yehia Zaki – Suez Canal Economic Zone’s (SCZone) chairman told…
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U.S. Kemin plans to invest EGP1.5 billion in Egypt in next three years

Kemin Industries, U.S. ingredient manufacturer for human and animal health and nutrition, plans to invest 1.8 billion Egyptian pounds ($114.7 million) in Egypt over the next three years, a senior…
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Egypt’s start-up SWVL preps for Nasdaq listing after merger with Queen’s Gambit

Egypt’s transport technology start-up SWVL announced on Wednesday it entered into a merger agreement with U.S. special purpose acquisition company Queen’s Gambit Growth Capital, a step that would…
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Banque Misr, BM Lease sign Islamic financing deal for Walk of Cairo project

Banque Misr, Egypt’s second largest bank, and its leasing arm BM Lease have signed on Wednesday a 700 million Egyptian pounds ($44.6 million) Islamic seven-year financing deal with Bonyan for…
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SODIC closes first securitisation bond issuance worth EGP 343m

Six of October Development and Investment (SODIC) announced that its wholly-owned subsidiary SODIC for Securitization closed its first securitisation bond issuance of EGP 343 million
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Egypt’s economy seen growing in FY2021/22 as rebound continues – Reuters poll

Egypt’s economy is expected to grow 5.0 percent in the financial year 2021-2022 that ends in June next year, a Reuters survey showed on Monday.
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CBE directs local market to abide by sustainable financing principles

The Central Bank of Egypt (CBE) has directed all banks operating in the local market to take the necessary measures to implement sustainable financing principles.The Central Bank of Egypt (CBE) has…
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Egypt’s Banque Misr mulls committing EGP20.8 billion in joint lending

Banque Misr, Egypt’s second largest bank, is studying committing 20.8 billion Egyptian pounds ($1.3 billion) in joint lending to several major sectors in the country, vice chairman Akef El Maghraby…
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