IDG targets EGP 3bn investments in industrial zones by 2025
Egypt’s Industrial Development Group (IDG) has outlined its strategy for 2025, aiming to invest EGP 3bn into developing industrial land in various regions across the country. The company plans to accelerate land development and infrastructure improvements in key areas such
Al-Mashat, AFC CEO discuss renewable energy investment at Davos
Egyptian Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, met with Samaila Zubairu, CEO of the African Finance Corporation (AFC), during the 2025 World Economic Forum in Davos to discuss joint efforts to mobilise investments in renewable energy.
Egypt’s Al-Mashat, EBRD’s Davis discuss development cooperation, future projects
Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation and Egypt’s Governor at the European Bank for Reconstruction and Development (EBRD), met with Mark Davis, the EBRD’s new Regional Director for the Southern and Eastern Mediterranean Region. Davis succeeds
Egypt, Nigeria agree to strengthen agricultural cooperation
Alaa Farouk, Egypt’s Minister of Agriculture and Land Reclamation, met with Abubakar Kyari, Nigeria’s Minister of Agriculture and Food Security, to discuss ways to deepen agricultural cooperation between the two countries. The meeting, which was also attended by Mustafa Al-Sayyad,
Arab-African Council for Awareness plans new initiatives with Arab League, Hospitals Federation
The Arab-African Council for Awareness is planning new initiatives in cooperation with the Arab League and the Arab Hospitals Federation. This was announced following a meeting of the council’s Board of Directors with its High Advisory Committee, composed of experts
Elsewedy Electric achieves financial close on Greece’s first large-scale battery storage project
Elsewedy Electric, a leading provider of integrated energy, infrastructure, and digital solutions, has announced the financial close of a landmark 50MW/100MWh Battery Energy Storage System (BESS) project in Greece through its wholly owned subsidiary, Energy Bank I S.A. This project
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