WE and CIB partner to offer advanced digital financial services in Egypt
WE, the retail brand of Telecom Egypt and country’s leading telecommunications and information technology service provider, has announced a strategic partnership with the Commercial International Bank (CIB), the country’s largest private sector bank. The collaboration aims to deliver an innovative
NileSat profits surge 31.83% to $57.7m in 2024
NileSat, the Egyptian satellite company, has reported a significant increase in profits for 2024, with net earnings reaching $57.7m, a 31.83% increase compared to the $43.8m profit recorded in the previous year. The announcement was made during NileSat’s General Assembly,
Microfinance companies inject EGP 80.4bn into MSMEs in January 2025: FRA
The Financial Regulatory Authority (FRA) has reported that licenced microfinance companies and associations provided a total of EGP 80.409bn in funding to micro, small, and medium enterprises (MSMEs) in January 2025. This represents a significant increase compared to EGP 58.881bn
Egypt’s microfinance sector approaches EGP 100bn in 2024: MSMEF
Mona Zulficar, Chairperson of the Egyptian Federation for Financing Medium, Small, and Micro Projects (MSMEF), announced that Egypt’s microfinance sector has seen significant growth in 2024, with total financing balances nearing EGP 100bn by the end of the year. This
Misr Cement Group Reports EGP 272 Million Profit in 2024, Marking 136% Growth
Misr Cement Group has announced a significant surge in its financial performance for 2024, reporting a net profit of EGP 272 million, a 136% increase compared to the previous year. This remarkable growth underscores the Group’s successful strategy in cost
SCZONE launches pilot digital one-stop shop for investors
The Suez Canal Economic Zone (SCZONE) has officially launched a pilot digital service package aimed at enhancing the experience for investors. This marks the first phase in a broader effort to digitize various services offered by the SCZONE. The digital
Egypt celebrates World Water Day 2025 under theme ‘Preserving Glaciers’
Egypt’s Minister of Water Resources and Irrigation, Hani Sewilam, led the 2025 World Water Day celebration on Saturday evening, organized by the Ministry of Water Resources and Irrigation in collaboration with the European Union Delegation in Egypt. The event was
ETA holds key meetings with professional syndicates to optimize new tax benefits
Rasha Abdel Aal, the Head of the Egyptian Tax Authority (ETA), has conducted a comprehensive meeting with representatives from the syndicates of doctors, engineers, veterinarians, dentists, and pharmacists to outline the first phase of the new tax relief initiative and
Cabinet approves private free zone project for metro parts, cables in Borg El Arab
Prime Minister Mostafa Madbouly chaired a meeting of the ministerial group for industrial development, which was attended by key ministers from Egypt’s economic group and other relevant authorities. During this session, approval was granted for a new project under the
Gold prices surge 5.9% since early March amid market uncertainty
Global gold prices continued their upward trajectory last week, marking a third consecutive weekly gain despite a pullback in the final two trading sessions after reaching an all-time high. Over the past week, gold prices rose by 1.3%, peaking at