African Development Fund secures record $11bn replenishment, marking pivot toward investment-led growth
The African Development Fund (ADF), the concessional financing arm of the African Development Bank Group, has secured a record $11bn for its 17th replenishment (ADF-17)—the largest fundraising outcome in the Fund’s history—signalling a decisive shift toward investment-led development across the
IBF & Company acquires 50% stake in Diatom CBT to drive cross-border e-commerce expansion
IBF & Company has completed the acquisition of a 50% equity stake in Diatom CBT, a cross-border technology company operating in the UAE and Egypt, in a move aimed at strengthening its portfolio of technology-driven ventures and expanding its footprint
PM says Egypt’s non-oil exports expected to reach $48-50bn this year
Egypt expects its non-oil merchandise exports to reach between $48bn and $50bn by the end of the current year, marking a 20% annual growth rate, Prime Minister Mostafa Madbouly said on Wednesday. Speaking at a weekly press conference, Madbouly stated
Cabinet grants golden licenses to MAC, Deli Egypt for EGP 15.1bn in new investments
The Egyptian Cabinet, chaired by Prime Minister Mostafa Madbouly, approved a package of major decisions during its 71st meeting, underscoring efforts to localise industry, attract foreign investment, expand clean energy, and support regional development. Chief among the approvals was the
Egypt’s Abdelatty proposes hospital project, infrastructure support in Gambia
Egypt’s Foreign Minister Badr Abdelatty said on Wednesday that Cairo plans to establish an investment hospital in Banjul staffed by Egyptian medical professionals as part of a broader effort to deepen economic and infrastructure ties with Gambia. Speaking during a
Egypt, Canada sign development agreements worth EGP 552m for women’s empowerment, food security
Egypt has signed three grant agreements with Canada worth approximately EGP 552m to fund projects focused on women’s empowerment, food security, and refugee support, the Ministry of Planning, Economic Development and International Cooperation said on Wednesday. The agreements were signed
Egypt explores opportunities to expand sustainable environmental investment in natural reserves
Manal Awad, Minister of Local Development and Acting Minister of Environment, held a meeting with a group of investors to discuss opportunities to expand sustainable environmental investment in Egypt’s natural reserves and to promote eco-tourism. The meeting was attended by
Kouchouk says Egypt plans ‘exceptional’ cut to debt levels, lowers medical VAT to 5%
Egypt is targeting an “exceptional” improvement in its budget debt indicators while implementing a second package of tax facilities that includes cutting value-added tax (VAT) on medical equipment to 5% from 14%, Finance Minister Ahmed Kouchouk said on Tuesday. Speaking
GENNVAX launches largest regional vaccine manufacturing facility with $150m investment
Egypt has marked a major milestone in its biopharmaceutical development with the laying of the foundation stone for the GENNVAX vaccine manufacturing facility, which is set to become the largest fully integrated vaccine production complex in the Middle East and
Health Minister Discusses radiology upgrade with Curagita, ACH
Egypt’s Health Minister Khaled Abdel Ghaffar met executives from Curagita Group and ACH on Tuesday to discuss investment opportunities and cooperation in the healthcare sector, with a particular focus on upgrading the radiology department at the Nile Medical City project,