‘Mashroak’ initiative finances over 219k small projects with EGP 29.8bn nationwide: Local Development Minister
Egypt’s Minister of Local Development, Manal Awad, announced that the National Project for Community, Human, and Local Development, known as “Mashroak,” has financed over 219,000 projects with loans totaling EGP 29.8bn since its inception in 2015. These projects have collectively
AAIB, IFC, EBRD, and BII launch $500m sustainability bond to advance climate finance, support MSMEs
The Arab African International Bank (AAIB) has issued a $500m sustainability bond, backed by investments from IFC, the European Bank for Reconstruction and Development (EBRD), and British International Investment (BII). This initiative aims to advance Egypt’s green transition while supporting
Egyptian investors emphasize private sector’s significance for economic growth
Chairperson of Al Ahly Sabbour Developments, Ahmed Sabbour, emphasized that investors have become a central focus of global attention. They are the driving force that elevates the economy to higher efficiency, significantly contributing to international production through investments that ultimately
Egypt’s President reviews economic progress with PM, CBE Governor
President Abdel Fattah Al-Sisi met Monday with Prime Minister Mostafa Madbouly and Central Bank of Egypt Governor Hassan Abdalla to review Egypt’s macroeconomic indicators. The meeting followed a recent visit by the International Monetary Fund (IMF) and its reaffirmation of
NUCA issues securitization bonds exceeding EGP 40bn: FRA chief
Mohamed Farid, Chairperson of the Financial Regulatory Authority (FRA), has highlighted the importance of securitization mechanisms for real estate companies, citing the New Urban Communities Authority (NUCA) as an example. He revealed that NUCA had issued securitization bonds exceeding EGP
MSMEDA partners with banks to offer Islamic financing for small enterprises: CEO
Basel Rahmy, CEO of Egypt’s Micro, Small, and Medium Enterprises Development Agency (MSMEDA), announced Monday that the agency partnered with several banks to provide Islamic financing solutions for small enterprises. These banks include Faisal Islamic Bank of Egypt, United Bank,
Poland’s Henfra to invest $10.6bn in green ammonia project in Egypt
Henfra, a prominent Polish company, is set to invest $1.6bn in the establishment of a green ammonia production facility in Egypt, with total investments expected to reach $10.6bn as the facility’s capacity grows to one million tonnes annually. In a
Souhoola completes EGP 478m securitization bond issuance
BM Consumer Finance (Souhoola), a consumer finance company, has completed ab EGP 478m (approximately $15.7m) securitized bond issuance in three tranches, the company announced. CI Capital acted as the issuance manager and principal coordinator for the transaction. The issuance, Souhoola’s
TMG launches residents’ cycling marathon at Celia, New Administrative Capital
Talaat Moustafa Group (TMG) launched its first-ever residents’ cycling marathon, promoting health and fitness among its community members. The initial stage of the multi-stage event took place at Celia, the group’s flagship development in Egypt’s New Administrative Capital. Hundreds of
Madinaty Golf Club: Africa’s Best Golf Course for 2nd Consecutive Year
Madinaty Golf Club has been named the Best Golf Course in Africa for the second consecutive year, according to the World Golf Awards. This accolade, announced at the awards ceremony on 22 November 2024 in Madeira, Portugal, follows the club’s