Net foreign assets in Egypt’s banking sector rise by $1.5bn in February 2025
The Central Bank of Egypt (CBE) announced that net foreign assets within the Egyptian banking system rose by approximately $1.5bn during February 2025, reaching $10.17bn (equivalent to EGP 515.856bn), up from $8.7bn (EGP 437.261bn) in January. According to a recent
EU approves €4bn loan for Egypt
The European Parliament has approved the second tranche, worth €4bn, of the European Union’s (EU) Macro-Financial Assistance (MFA) package for Egypt. The announcement was made by the Egyptian Ministry of Planning and Economic Development, and International Cooperation in a statement
Egypt approves record 2025/26 budget with focus on growth, social investment
The Egyptian cabinet, led by Prime Minister Mostafa Madbouly, has approved the draft budget for the 2025/2026 fiscal year and referred it to Parliament for discussion and final approval. The new budget reflects record spending and a continued commitment to
Egypt, Tajikistan strengthen health cooperation, pharmaceutical partnerships
Egypt’s Deputy Prime Minister and Minister of Health and Population, Khaled Abdel Ghaffar, met with Tajikistan’s Ambassador to Egypt, Parviz Mirzazoda, to explore opportunities for enhancing bilateral health cooperation and expanding partnerships in the medical and pharmaceutical sectors. Abdel Ghaffar
Chinese Deli Group plans major industrial complex in 10th of Ramadan City
Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, met with a delegation from China’s Deli Group, a leading manufacturer of tools and equipment, to discuss the company’s plans to establish a large-scale industrial complex
N Gage Consulting, GAFI sign MoU to boost investment in Egypt
Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), and Sherif Fahmy, CEO of N Gage Consulting, have signed a Memorandum of Understanding (MoU) to enhance cooperation in promoting investment in Egypt. The agreement formalizes the
Egypt accelerates pharmaceutical industry development in state-owned companies
Mohamed El-Shimy, Minister of Public Enterprises, and Ali El-Ghamrawy, Chairperson of the Egyptian Drug Authority (EDA), conducted an extensive field visit to subsidiaries of the Holding Company for Pharmaceuticals, Chemicals, and Medical Supplies. The tour covered Arabian Drug Company (ADCO),
CBE launches annual Women’s Financial Inclusion Event
As part of its commitment to enhancing women’s access to formal financial services, the Central Bank of Egypt (CBE) has launched the annual “Women’s Financial Inclusion Event.” The event, which runs from March 8—coinciding with International Women’s Day—until the end
Petrojet’s business volume to reach EGP 215bn by 2028
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, underscored Petrojet’s pivotal role in executing large-scale energy and infrastructure projects both in Egypt and internationally. Speaking at the company’s general assembly meeting, Walid Lotfy, Chairperson of Petrojet, announced that the
IDG expands industrial, logistics projects
Industrial Development Group (IDG), a leader in developing, operating, and managing advanced industrial zones in Egypt, has unveiled an ambitious expansion strategy to solidify its role as a key driver of economic growth in Egypt and Africa. The company’s plan