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ABE opens new business development service centre in 6th of October to support SMEs

The Agricultural Bank of Egypt (ABE) has inaugurated a new business development service centre in the 6th of October City, as part of the NilePreneurs Initiative launched by the Central Bank of Egypt…
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African Development Bank approves $271m financing for Egypt

The Board of Directors of the African Development Bank approved a development financing for Egypt worth $271m, within the framework of the rapid financing mechanism to face the repercussions of the…
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Banque du Caire gets Egypt’s central bank nod for Telda card

The Central Bank of Egypt (CBE) has approved for Banque du Caire to launch the Telda prepaid card.
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Swvl expands to Mexico with fourth acquisition of 2022:

Cairo-born mass transport app Swvl is continuing its buying spree with the acquisition of Mexico-based transport firm Urbvan Mobility, giving the Nasdaq-listed startup access to the second most…
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Egypt’s real GDP growth up 0.1%,13.2% inflation in 2022: Fitch Solutions

Fitch Solutions upgraded its projections for Egypt’s real GDP growth slightly to 6.1 percent during 2022, up from the six percent projected a month ago, according to the MENA Key Themes 2022: Mid-Year…
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Volume of US investments in Egypt increases by 19.8% in FY2020/21

The value of US investments in Egypt increased to $9.2bn in FY2020/21, compared to the previous FY’s $7.7bn — an increase of 19.8% according to Data from the Central Agency for Public Mobilisation and…
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EFG Hermes concludes advisory on UAE-based Agthia’s majority acquisition of Auf Group

EFG Hermes announced that its investment banking division successfully concluded advising Auf Group’s founders and Tanmiya Capital Ventures (TCV) on the entry into a strategic transaction concerning…
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Over EGP 1 bln allocated for industrial complexes nationwide; Maait

Minister of Finance Mohamed Maait assured that the government has allocated EGP 1.1 billion in the new budget to establish utilities for 13 industrial complexes in several governorates with the aim of…
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Egypt’s annual urban consumer inflation falls to 13.2% in June

Egypt’s headline monthly inflation declined to 13.2 percent in June, down from 13.5 percent in May, for the first time in seven months, the Central Agency for Public Mobilisation and Statistics…
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Egypt’s trade deficit declines 53% in April – CAPMAS

Egypt's trade balance recorded $1.7bn during April 2022, versus $3.62bn for the same month of the previous year — a decrease of 53%, according to he Central Agency for Public Mobilisation and…
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