FRA registers first debt collection firms for non-bank financial sector
The Financial Regulatory Authority (FRA) has approved the registration of Egy Serv and Egyptian International in the Register of Debt Collection Companies for entities operating in non-bank financial activities. The two firms are the first to be registered under the
Egypt, South Africa discuss industrial integration, expanding cooperation in automotive, pharmaceutical sectors
Egypt’s Minister of Industry, Khaled Hashem, held talks with South Africa’s Minister of Trade, Industry and Competition, Parks Tau, to explore opportunities for strengthening economic cooperation and advancing industrial integration between the two countries. The meeting was attended by South
Egypt detains 136 foreigners and 87 citizens in southern military sweep against illegal mining and trafficking
Egypt’s law enforcement forces have detained 87 Egyptian citizens and 136 foreign nationals during a large-scale security operation against criminal networks in the Southern Military Region, the Egyptian Armed Forces spokesperson said in a Monday statement. The campaign targeted criminal
Titan, SolarizEgypt partner to build 11.45 MW solar power plant at Beni Suef Cement
Titan Egypt has announced the signing of a long-term Power Purchase Agreement (PPA) with SolarizEgypt to develop and construct an 11.45 MW solar power plant for Beni Suef Cement Company, a subsidiary of Titan Egypt. This step reflects both companies’
Egypt launches industrial fund, unified investment platform to boost production, exports
Egypt’s Minister of Investment and Foreign Trade, Mohamed Farid, announced a set of new initiatives aimed at supporting industry and exports, including the launch of an industrial fund under the Egyptian Sovereign Fund and a unified digital platform for economic
South Africa completes technical plans for automotive and industrial pact with Egypt
South Africa has completed technical preparations for proposed industrial and automotive cooperation protocols with Egypt, South African Minister of Trade, Industry and Competition Parks Tau said during bilateral talks in Cairo. The expansive discussions, which included Egyptian Minister of Investment
Banks operating in Egypt adopt international ISO 20022 standard for financial transfers
In a pivotal step towards transforming Egypt’s digital payments infrastructure, the Central Bank of Egypt (CBE) announced the adoption of the international ISO 20022 standard across the Egyptian banking sector for SWIFT messaging in interbank financial transfers, effective 21 June
CBE prohibits financing for company formation, capital increases, and dividend distributions
The Central Bank of Egypt (CBE) has issued a directive requiring banks not to grant credit facilities to customers for the purpose of financing the capital of companies under incorporation, funding capital increases, or using bank financing to support cash
Egypt discusses deepening investment, trade cooperation with France
Egypt’s Minister of Investment and Foreign Trade, Mohamed Farid, held an extensive meeting with a French diplomatic delegation that included Éric Chevallier, the French Ambassador to Cairo; Pascal Furth, Economic Counsellor and Head of the Economic Department at the French
Planning Ministry holds first session of ‘Business Clinic’ to support start-ups, address operational challenges
The Egypt Entrepreneurship and Innovation Centre, affiliated with the National Institute for Governance and Sustainable Development, held the first session of the “Business Clinic” initiative, which operates under the umbrella of the Ministry of Planning and Economic Development, in coordination