Madinet Masr increases construction investments EGP 10bn to expedite Sarai, Taj City projects
Madinet Masr is expediting work on its Sarai project near the New Administrative Capital and Taj City in east Cairo, allocating EGP 10bn in capital expenditures to meet project timelines. The company successfully implemented its expansion strategy throughout 2024, launching
Mid Takseet rebrands as MOGO, increases capital to EGP 225m
Consumer finance company Mid Takseet has rebranded as MOGO (Money on the GO) and significantly increased its capital to EGP 225m. The rebranding, which includes a shorter, more memorable name and streamlined application processes, aims to boost market share and
International expertise strengthens trust, partnerships in tax community: Finance Minister
Egypt’s Minister of Finance Ahmed Kouchouk has emphasized the Ministry’s commitment to leveraging international expertise to foster trust, partnerships, and certainty within the tax community. This initiative is part of a broader strategy to boost private sector growth and fortify
Nissan commits $47m to expand operations in Egypt
Egypt’s Prime Minister Mostafa Madbouly witnessed the signing of a landmark investment agreement on Wednesday between Nissan Egypt and the Egyptian government. The agreement paves the way for the local production of a third vehicle model at Nissan’s factory in
Al-Wazir explores advancing Egypt’s railway, smart transport projects
Egypt’s Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, has held pivotal meetings with international leaders in railway and smart transportation during his visit to Italy. These discussions aimed to accelerate Egypt’s transport modernization
Egypt’s external debt surges 307% as GNI climbs 69%: World Bank
Egypt’s external debt skyrocketed by 307%, while its Gross National Income (GNI) rose by 69%, according to the World Bank’s International Debt Report 2023. Among Low- and Middle-Income Countries (LMICs), Egypt recorded a $17.4bn short-term debt inflow in 2022, representing
CBE joins Pan-African Payment and Settlement System
As part of Egypt’s efforts to deepen economic collaboration with African nations, the Central Bank of Egypt (CBE) has joined the Pan-African Payment and Settlement System (PAPSS). Developed by the African Export-Import Bank (Afreximbank), PAPSS streamlines cross-border payments and trade
Egypt hosts key satellite session of African Conference on Precision Agriculture
The African Conference on Precision Agriculture (AfCPA), a transformative event aimed at driving agricultural innovation across the continent, has launched simultaneously in 10 African nations, with Egypt taking a prominent role as one of the satellite hosts. The Egyptian session,
ETA launches permanent Advance Ruling Unit to enhance transparency, support investors
Rasha Abdel Aal, Head of the Egyptian Tax Authority (ETA), has announced the establishment of a permanent Advance Ruling Unit, marking a significant step in the Ministry of Finance’s efforts to promote transparency and facilitate taxpayer and investor support. This
Madbouly reviews Egypt’s wheat procurement strategy
Egypt’s Prime Minister Mostafa Madbouly chaired a meeting Monday to review the country’s wheat procurement strategy. The meeting, attended by key ministers and agency heads, focused on ensuring sufficient wheat supplies to meet the needs of Egypt’s growing population. Attendees