Egypt’s annual urban inflation edges up slightly to 26.5% in October
The Central Agency for Public Mobilization and Statistics (CAPMAS) has reported a slight increase in Egypt’s annual urban inflation to 26.5% in October 2024, up from 26.4% in September. Across the country, annual inflation climbed to 26.3% in October from
FRA continues formulating necessary policies to enhance efficiency, competitiveness of insurance sector: Farid
Mohamed Farid, Chairperson of the Financial Regulatory Authority (FRA), delivered the keynote speech at the sixth annual Insurance and Reinsurance Forum in Sharm El-Sheikh, organized by the Insurance Federation of Egypt, under the title “A Future Vision for Developing the
ABE injects EGP 39.8bn into small, micro-enterprises in September
The Agricultural Bank of Egypt (ABE) concluded the third quarter of this year with significant growth in loans allocated to funding SME activities. The bank stimulates various productive sectors to create a competitive national industry in all fields, enhancing local
Suez Canal Bank opens its 53rd branch in Menoufeya’s Shibin El-Kom
Suez Canal Bank inaugurated its latest branch in Shibin El-Kom, Menoufeya to provide its banking services and products to a larger customer base. This aligns with the directions of CBE and Egypt’s Vision 2030 to spread financial inclusion across the
EBank launches Information Security Academy in partnership with EBI
EBank has announced the launch of the Information Security Academy (InfoSec) at the Bank, in partnership with the Egyptian Banking Institute (EBI), the training arm of the Central Bank of Egypt. The Academy aims to nurture young talents and equip
WUF12 addresses SDG localisation, development finance
At the 12th World Urban Forum (WUF12), held in Cairo, two pivotal discussions underscored the critical importance of Sustainable Development Goals (SDGs) localisation and financing for development. These discussions revealed a collective commitment to addressing the global challenges of urbanization
FRA promotes green financing to boost investment in eco-friendly projects: Farid
Mohamed Farid, Chairperson of the Financial Regulatory Authority (FRA), Vice Chair of the International Organization of Securities Commissions (IOSCO), and Chair of its Growth and Emerging Markets Committee (GEMC), began his visit to Madrid, Spain, to participate in IOSCO’s Board
EBRD considers $200m debt finance for 1.1 GW Suez Wind Energy
The European Bank for Reconstruction and Development (EBRD) is considering senior debt financing of up to $200m in debt financing to support Suez Wind Energy, an Egyptian special purpose vehicle (SPV) established to build and operate a 1.1 GW wind
MSMEDA, World Bank partner to upgrade Egyptian entrepreneurship eco-system: Rahmy
Bassel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), emphasized enhancing Egyptian startups with both financial and technical support, by working on developing innovative ideas to reach the commercialized stage. “Such set of supportive programs targeting
Zamil Steel marks 25 years in Egypt with 7,400 projects
Zamil Steel Holding’s factories in Egypt have produced around 1.2 million tonnes of metal structures for approximately 7,400 projects, serving various industrial applications over the last 25 years. Roughly 450,000 tonnes of these structures have been exported to more than