Egyptian Parliament approves EBRD expansion into Sub-Saharan Africa and Iraq
The Egyptian House of Representatives has approved an amendment to the European Bank for Reconstruction and Development’s (EBRD) establishment agreement, paving the way for the bank to expand its operations into sub-Saharan Africa and Iraq. The decision, ratified during a
Egypt’s Instapay to charge transfer fees ranging from EGP 0.5-20
Egypt’s instant payment network will begin charging fees ranging from 50 piastres to EGP 20 on transfers made through its “Instapay” application starting April 1st. The service will also limit free balance inquiries to 10 per month. Instapay said the
Al-Wazir, French ambassador discuss construction timeline for Alstom’s industrial complex in Borg El Arab
Kamel Al-Wazir, Egypt’s Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, recently met with French Ambassador to Cairo Eric Chevalier, joined by senior officials from Egypt’s Ministries of Transport and Industry. The meeting focused on advancing
TMG, Alameda partner on healthcare projects in Egypt and Saudi Arabia
Talaat Moustafa Group (TMG) has partnered with Alameda Healthcare Group to develop and manage high-quality medical and healthcare projects in Egypt and Saudi Arabia. Under the agreement, Alameda will manage and operate a new hospital in TMG’s Madinaty project in
Ahl Masr Foundation signs cooperation agreement to support Burn Hospital
The Ahl Masr Foundation for Development has signed a cooperation agreement with the Egyptian General Trading and Contracting Company, under which the company will provide financial support to cover both the treatment costs of burn patients and the operational expenses
Alameda Healthcare signs strategic partnership with COMEN to enhance medical services in Egypt
Alameda Healthcare Group, a leading healthcare provider in Egypt, has signed a Memorandum of Understanding (MOU) with Shenzhen COMEN Medical Instruments Co., Ltd (COMEN), a China-based manufacturer of advanced medical equipment. The agreement aims to integrate cutting-edge medical technologies into
IFC to advise Egypt on private sector participation in airports
The Egyptian government has signed an advisory services agreement with the International Finance Corporation (IFC), the World Bank’s private sector arm, to expand private sector participation in the country’s airport sector. The signing ceremony was held on Monday at the
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