MSMEDA issues 130,000 licences for small enterprises over past decade
Basil Rahmy, CEO of the Micro, Small, and Medium Enterprises Development Agency (MSMEDA), announced that between July 2014 and December 2024, the agency issued 19,804 final and temporary business regularization licences, along with 110,137 final licences for small enterprises. These
Al-Sisi reviews Egypt’s financial performance, FY 2025/26 budget goals
President Abdel Fattah Al-Sisi met with Prime Minister Mostafa Madbouly and Finance Minister Ahmed Kouchouk on Sunday to discuss the state’s financial performance indicators and the key features and targets of the upcoming fiscal year (FY) 2025/26 budget. The new
Reefy Microfinance pumps EGP 4bn into Egypt’s economy in 2024
Reefy Microfinance Enterprise Services has injected EGP 4bn in financing during 2024, pushing the company’s total funding since its establishment in 2007 beyond EGP 20bn. Notably, the past year alone accounted for 20% of the total financing provided throughout the
Egyptian Foreign Minister Meets with EU Commissioner for Environment, Water, Circular Economy
Badr Abdelatty, Minister of Foreign Affairs, met with Jessika Roswall, European Commissioner for Environment, Water, and Competitive Circular Economy, on Friday, 14 February, during the Munich Security Conference. Abdelatty expressed his welcome for the enhanced relations between Egypt and
Egypt’s Universal Health System boosts economy, access: Al-Mashat
Egypt’s Universal Health Insurance System (UHIS) aims to provide healthcare coverage for all citizens and improve service quality, according to Minister of Planning, Economic Development, and International Cooperation Rania A. Al-Mashat. Speaking at the Universal Health Insurance Authority’s Annual Forum,
Legislative, regulatory overhaul to enhance insurance’s role in Egypt’s economy: FRA chief
Mohamed Farid, Chairperson of the Financial Regulatory Authority (FRA), engaged in a broad and insightful conversation with the Insurance Committee of the American Chamber of Commerce, discussing the FRA’s strategy and its comprehensive policies designed to elevate the insurance sector’s
Egypt to approve simplified tax system for SMEs, entrepreneurs, and professionals soon: Finance Minister
Ahmed Kouchouk, Egypt’s Finance Minister, has announced that a simplified tax system designed to support small and medium-sized enterprises (SMEs), entrepreneurs, and professionals will soon be approved. This initiative is part of the government’s broader effort to drive investment and
Egypt to finalize FDI, industrial development strategies in Q1, projects 4% economic growth
Minister of Planning and Economic Development, Rania Al-Mashat, announced that Egypt is on track to finalize its foreign direct investment and industrial development strategies in the first quarter (Q1) of this year. She also forecasted a 4% growth for the
Egypt’s gold reserves rise by $2.2bn in 2024
The Central Bank of Egypt (CBE) has reported a $2.2bn increase in the value of gold included in the country’s foreign exchange reserves in 2024, bringing the total to $10.644bn by December 2024, compared to $8.440bn in December 2023. After
Egypt’s GDP Growth Reaches 3.5% in Q1 FY2024/25
Egypt’s economy experienced a 3.5% growth in the first quarter (Q1) of the FY2024/25, according to the Ministry of Planning, Economic Development, and International Cooperation. This marks an increase from the 2.7% GDP growth recorded during the same quarter of