MSMEDA, Erada Microfinance ink EGP 60m deal to fund 1,700 micro-enterprises
The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has signed a significant agreement with Erada Microfinance, securing EGP 60m to support micro-enterprises. This funding initiative is expected to finance approximately 1,700 new or existing ventures, with a focus on
5th WEPEX to boost Egypt-Kenya trade relations in September
Twenty-five leading Egyptian companies are gearing up to participate in the 5th Water, Electricity, and Power Exhibition (WEPEX), scheduled to take place in Kenya this September. The event, organized by 2Art Fairs for Event and Exhibitions in collaboration with IkapaMedia
Egypt sets new minimum capital requirements for insurers
The Board of Directors of Egypt’s Financial Regulatory Authority (FRA), chaired by Mohamed Farid, has issued Decree No. 196 of 2024, setting new minimum capital requirements for insurance companies. The decree implements provisions of the Unified Insurance Law issued in
CBE’s net foreign assets reach $11.64bn surplus in December 2024
The Central Bank of Egypt (CBE) reported a surplus in its net foreign assets for December 2024, marking the eighth consecutive month of growth. The surplus reached $11.64bn (EGP 592.469bn), slightly down from the previous month’s surplus of $11.79bn (EGP
Foreign Minister Abdelatty promotes Egypt’s green energy strategy in Brussels
Egyptian Foreign Minister Badr Abdelatty met with Wim Dhont, offshore cable manager at the Belgian company Jan De Nul, on Sunday, to discuss grid connection projects and renewable energy cooperation. The meeting took place at the start of Abdelatty’s visit
PM witnesses signing of contracts to expand reach of Egyptian Knowledge Bank
Egypt’s Prime Minister Mostafa Madbouly attended on Sunday the signing ceremony of several key agreements aimed at expanding the international services of the Egyptian Knowledge Bank (EKB). The agreements, signed between the Ministry of Higher Education and Scientific Research and
E-system for clearing investors’ dues to launch next month: Finance Minister
Minister of Finance Ahmed Kouchouk announced that an electronic system for clearing between investors’ dues and debts will be launched next month, offering investors enhanced liquidity. He also revealed that exceptional solutions would soon be implemented to resolve all tax
Egypt to organize reverse exhibitions for local spare part production
Kamel Al-Wazir, Egypt’s Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, announced a series of initiatives aimed at advancing national industry and protecting the interests of manufacturers. These include measures to prevent land speculation in industrial
Water Ministers of Egypt, Nigeria meet to enhance collaboration
Egyptian Minister of Water Resources and Irrigation, Hani Sewilam, and Nigerian Minister of Water Resources, Joseph Utsev, met to discuss ways to strengthen bilateral cooperation in the water sector. Minister Sewilam expressed his pleasure in meeting with Minister Utsev and
Chemical Export Council calls for incentives to strengthen plastic waste recycling infrastructure
Mohamed Maged, Executive Director of the Chemical and Fertilizer Export Council, has urged the government to provide incentives and benefits to develop advanced infrastructure for plastic waste collection and recycling. Speaking during the Circular Plastic Economy session at the Pan