The African Export-Import Bank has successfully completed its first ever Samurai Syndicated Term Loan Facility, raising the equivalent of US$150 million, comprised of two tranches of JPY 6.2 billion and US$100 million.
The Central Bank of Egypt approved increasing caps on cash withdrawals and depositing under mobile-phone cash transfer services, head of marketing department at Vodafone Egypt Karim Shehata announced Sunday.
Boeing and AerCap have announced that Egyptair will lease six Boeing 787-9 Dreamliners.
Mastercard enables a new era of payments in Egypt through innovation, collaboration and digitization
Guided by its vision of a cashless world and since the beginning of its operations in the country, Mastercard has made financial inclusion one of its top priorities in Egypt.
MARAKEZ, a subsidiary of Fawaz Al Hokair Group, has selected Yardi Voyager® 7S to electronically manage its lease and property management process for its leading shopping mall in Cairo, Mall of Arabia.
Pratt & Whitney, a division of United Technologies Corp and EgyptAir have announced the selection of the PurePower Geared Turbofan engine to power up to 24 Bombardier CS300 aircraft.
Telecom Egypt has renewed a long term agreement with Vodafone Egypt, to provide international call conveyance services. The agreement extends to the year 2022.
Mobile payments company Bango has expanded operations in Africa through a partnership with Victory Link in Egypt.
Suez Canal Economic Zone Authority and DP World sign agreement for development of economic zone in Sokhna, Egypt
Admiral Mohab Mamish Chairman of the Suez Canal Authority and Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, have signed a partnership to develop an integrated industrial and residential zone at Sokhna in Egypt.
Alfanar Company has closed the financing for the development, construction, ownership and operation of a 50 MW solar PV plant in Egypt's Aswan province and which will be supported by Egypt's FiT program.
Phoenix Energy of Safra, Lebanon participated in the official signing of the International Finance Corporation’s (IFC) Nubian Suns Feed-in-Tariff Financing Program in Cairo, Egypt.
EFG Hermes Leasing partners with Philips Egypt to provide healthcare leasing solutions to SMEs and hospitals
EFG Hermes Leasing, the leasing arm of the financial services corporation in the Middle East and North Africa EFG Hermes, has signed a cooperation agreement with Philips Egypt to provide leasing solutions for healthcare professionals.
Area9 Learning and Valia Investments have signed a long-term exclusive partnership to advance adaptive e-learning for corporations in North Africa and Middle East and North Africa region.
In its monthly bulletin on the performance of the banking sector, the Central Bank of Egypt stated that the total balances of credit facilities granted by banks rose to EGP 1.413tn until the end of July 2017.
EREN Renewable Energy and Access Power enter Egyptian renewable energy market with completion of financial close for two solar plants
EREN Renewable Energy and its strategic partner Access Power have announced the successful financial close of two solar PV plants with a total capacity of 126MWp located in the Benban complex.
Energy Recovery, Inc., the pressure energy technology for industrial fluid flows company has been awarded $3.3 million contract to supply its PXTM Pressure.
Africa50, the infrastructure fund for Africa, Scatec Solar and Norfund have signed the long-term financing documentation for the 400 MWDC utility scale photovoltaic power plants in Egypt.
A new medical joint venture between an Egyptian and a British company to launch a state-of the-art-facility to produce catheters is set to start at an investment of $4 million, the British embassy in Cairo announced on Thursday.
Global payments technology company Visa has launched the newly-incorporated Visa Foundation that will prioritize the growth of micro and small enterprises around the world, enabling individuals, businesses, and economies to thrive.
A delegation from the London Stock Exchange Group has visited Cairo to support Egypt’s Stock Exchange development and connect Egyptian Government and companies to London markets.
Egyptian exports to France increased by 17% in the first half (H1) of 2017, scoring a value of €321.3m, up from €274.9m in H1 2016.
Italian multinational oil and gas company Eni has finalized the sale of a 30 per cent stake in the Shorouk concession, where the super-giant Zohr gas field is located, to Rosneft.
Siemens and the German government in $26 million partnership to support occupational training in Egypt
To drive employment opportunities for Egyptian youth, Germany’s Federal Ministry for Economic Cooperation and Development and Siemens have signed a strategic alliance agreement to support occupational training in Egypt.
SDX Energy Inc., the North Africa focused oil and gas company, is pleased to announce that an oil discovery has been made by the Rabul 2 Well in the West Gharib Concession in Egypt.
The African Export-Import Bank is off to a successful listing of its depositary receipts (DRs) on the official market of the Stock Exchange of Mauritius.
Rx Healthcare Fund, an Africa-focused healthcare private equity fund currently under establishment, has announced that GE Healthcare is set to become an anchor limited partner in Rx.
The number of credit cards of banks operating in the Egyptian market increased to about 5.858 million cards by the end of June 2017 compared to 3.859 million cards in December 2016.
Rx Healthcare Fund, an Africa-focused healthcare private equity fund currently under establishment, today announced that GE Healthcare is set to become an anchor limited partner in Rx.
[Egypt] Islamic Corporation for Development of the Private Sector and Alfa Solar to part-fund construction of solar plant
The Islamic Corporation for the Development of the Private Sector and Alfa Solar have signed facility agreements for a US$28.5 million financing to part-fund the construction of a solar plant in Egypt.
Egypt and the United States have signed new bilateral assistance agreements and amendments worth over $100 million that support the Government of Egypt's economic reforms, Sustainable Development Plan 2030, and private sector led growth and job creation.
Egypt is one of the largest beneficiaries of lending activities by the African Export-Import Bank (Afreximbank), with current total exposure standing at about $5.2 billion, the President of the Bank, Dr. Benedict Oramah, has said.
In line with Egypt’s focus to support local manufacturing capacity, the Ministry of Industry (MTI) and Siemens have signed a Memorandum of Understanding (MoU), to collaborate on the modernization of manufacturing.
Infinix is about to sign an agreement with Telecom Egypt to supply the company with smartphones. Infinix business development manager Ahmed Wagih said negotiations are at an advanced stage.
Asseco SEE, part of Asseco Group, 6th largest software vendor in Europe, has announced the first phase of the deployment of its leasing software solution LeaseFlex at Global Leasing Company, a pioneer in leasing solutions in Egypt.
In a signing ceremony hosted by H.E. Eng. Tarek El-Molla, Minister of Petroleum and Mineral Resources for Egypt, Baker Hughes, a GE company has announced a major subsea contract from Petrobel
With only a third of Egypt’s population connected to a sewer system—and rapid urbanization straining already overburdened infrastructure—Egypt’s fast-growing cities have been searching for solutions.
African Development Bank (AfDB) Group has approved three senior loans for a total amount of $55 million to finance three solar PV Projects under the second Round of the Feed-in-Tariff (FiT) Program in Egypt.
British authorities have lifted a ban on carry-on electronic devices on planes arriving from Cairo airport, Egypt's Ministry of Civil Aviation said on Friday.
Apex International Energy, an independent oil and gas exploration and production company focused on Egypt, has signed two concession agreements for 1.7 million acres encompassing the West Badr el Din and South East Meleiha concessions.
In a new move aimed at improving the resilience of Egypt’s power grid, the Egyptian Electricity Transmission Company has awarded Siemens a contract for the construction of two substations.
The Central Bank of Egypt (CBE) said that it has no intention of passing a law or issuing legislation to allow the trade of cryptocurrencies in Egypt.
International investment institutions expected Egypt to witness a significant economic improvement starting next year in terms of foreign investment inflows, especially in the oil and gas, real estate and consumer product sectors.
As one of the fastest growing international burger franchises, Burgerim is already in 16 countries and are now adding locations in Egypt and the UAE.
Nokia Networks in Egypt has revealed the company is working to provide the development and construction of mobile networks and infrastructure to Vodafone, Etisalat, Orange, and Telecom Egypt.
Egyptian phosphate rock miners achieve some of the lowest production costs in the 200 tonnes per year industry, allowing them to continue exports in a difficult pricing environment.
The African Export-Import Bank, an investment grade rated multilateral financial institution, is opening its shareholding to the investing public through the issuance of Depositary Receipts.
In Egypt where many suffer under economic hardship, 35-year-old entrepreneur Ahmed Saeed al-Feki has been working hard to launch his own business building a mini-car in a country that relies heavily on imports of small automobiles.
In cooperation with El Sabaa Automotive, Nissan Motors Egypt opened an after-sale service centre in Al Shorouk City.
The Egyptian construction conglomerate, The Arab Contractors (Osman Ahmed Osman & Company) Limited, yesterday entered into an agreement with the African Export-Import Bank to receive a $200-million multi-currency guarantee facility.
Egypt-based investment bank EFG-Hermes has been licensed to operate a stockbroker unit in Kenya with an eye on an investment bank permit, targeting institutional and high net-worth investors from the Middle East.
A new UNIDO project will help revive the Egyptian cotton industry which produces some of the highest quality fibre, known all over the world as Egypt’s ‘white gold’.
The asset management division of EFG Hermes, a financial services corporation in the Middle East and North Africa, has been awarded mandates from Ahli United Bank -Egypt to manage two funds.
EU-Egypt Association Council has endorsed the EU-Egypt partnership priorities for 2017-2020.
Egypt stocks are expected to extend gains this week after the government secured the second tranche of IMF loan, with foreign investors likely to inject fresh cash in the country’s cheap shares.
Wael Rashidy is an accredited SME Business Consultant from the Association of Accredited Small Business Consultant, USA, member of Egyptian Junior Business Association, International Council for Small Business, and Middle East Council for Small Business and Entrepreneurship.
Etihad Airways is adding year-round flights between its Abu Dhabi hub and both Cairo and Lagos later this year, to cater for growing demand to and from the United Arab Emirates.
The African Export-Import Bank (Afreximbank) has announced the appointment of Ibrahim Sagna as Director of its Advisory and Capital Markets (ACMA) Department.
Endeavor Entrepreneur Amir Barsoum, co-founder and CEO of Vezeeta, has joined Endeavor Egypt’s Board of Directors
Andersen Global has announced the addition of a presence in Egypt by way of a collaboration agreement with Maher Milad Iskander and Co., an Egyptian tax and legal firm based in Cairo.
Sheraton Hotels & Resorts, part of Marriott International, Inc. has announced the reopening of the iconic Sheraton Cairo Hotel & Casino a city landmark for more than four decades.
The African Export-Import Bank (Afreximbank) has successfully closed a $750 million note under its Euro Medium Term Note programme.
Afreximbank approves $200 million facility to help Banque Misr support Egypt’s SMEs and industrialization
The African Export-Import Bank has approved a $200 million industrialization liquidity facility for Egypt’s Banque Misr for the financing of small and medium-sized enterprises (SMEs)
Egypt has achieved a high ranking in the 2017 Global Cybersecurity Index, coming 14th out of 165 countries and second among the Arab states.
GE in $575 million agreement with Ministry of Transportation and Egyptian National Railways to transform rail infrastructure
General Electric has announced that it has signed a deal worth $575 million meant to transform Egyptian rail transport.
Egypt’s parliament has approved on Wednesday the maritime borders deal between Egypt and Saudi Arabia.
“There are positive signs of economic recovery, including the improvement of the trade balance, increasing FDIs, lower inflation rate, positive growth rates for manufacturing, extraction industries, ICT, and domestic trade.”
LG Chem is stepping up a drive to lead the global water treatment market after winning Egypt’s largest project to turn sea water into fresh water.
Kenya Airways has signed a codeshare agreement with EgyptAir (MS), on the Nairobi-Cairo route, in a bid to improve connectivity to Egypt in Northern Africa.
[Egypt] Societe Generale launches the initial public offering of ALD on the regulated market of Euronext Paris
Societe Generale has announced the launch of the initial public offering of ALD (the “IPO”), its full service leasing and fleet management subsidiary, on the regulated market of Euronext Paris.
Telecom Egypt has announced a five-year partnership with Etisalat Masr which will see it offer 2G and 3G services in the country from September.
The African Export-Import Bank (Afreximbank) has successfully closed a record $632.9 million and Euro 499.6 million dual-tenor dual-currency syndicated term loan facility.
Telecom Egypt and International Voice Services Telecom Egypt, have announced the signing of a Memorandum of Understanding (MoU) for a National Roaming and International Voice Services with Etisalat Masr (Egypt).
Add Energy, the international energy consultancy provider, has been awarded a maintenance build contract worth more than £1m with BP for work on West Nile Delta.
After a long journey that lasted six months since the launch of the program and a day full of excitement, creativity, talent and top class competition, Mastercard and INJAZ Egypt announced the five winning teams of the “Mastercard Women’s Entrepreneurship Program”.
Viking River Cruises has announced details of the newest addition to its river fleet, Viking Ra™. Recently acquired, the vessel has been stripped down to the steel to undergo a complete renovation that will reflect Viking's award-winning Scandinavian design.
The ministry of oil has declared the exportation of the first shipment of crude oil, which was two million barrels to Egypt through the southern ports.
President Abdel-Fattah Al-Sisi announced Sunday that the government will allocate EGP 100m from the Tahya Misr Fund to the Labour Emergency Fund to support factories, projects, and workers, on the occasion of Labour Day.
Mobile wallets just became even more useful with the announcement that Mastercard, the leading company in payments technology, is adding Bee, the smart payment solutions provider, as a key player to its interoperable mobile ecosystem.
The African Export-Import Bank (Afreximbank) has granted a $300-million financing facility to the National Bank of Egypt (NBE) to support Egypt’s industrialisation efforts.
Rockhopper Exploration, the oil and gas company with key interests in the North Falkland basin and the Greater Mediterranean region, has announced the commencement of the 2017 drilling campaign on the Abu Sennan Concession in Egypt, in which the Company has a 22% working interest.
Mastercard and McDonald’s have entered into a strategic collaboration that will bring simpler and faster payment options to all McDonald’s customers when buying their favorite meal in store, at the drive thru or when ordering it online.
Bechtel, a global leader in engineering, procurement, and construction, has been awarded two contracts by Carbon Holdings of Egypt: one to provide project management services for the Tahrir Petrochemicals Complex at Ain Sokhna, Egypt, and one to build two new polypropylene units at an adjacent site.
[Egypt] Vodafone in a multi-million-dollar partnership with Procera Networks to enhance broadband subscriber experience
Procera Networks has unveiled a multi-year, multi-million-dollar partnership with Vodafone Egypt to enhance the subscriber experience for its fixed and mobile subscribers.
In the wake of the decline in tourism, the Egyptian Ministry of Sports and several sports federations have begun to boost tourism by organising international championships in Egypt, especially in touristic areas such as El-Gouna, in cooperation with the Ministry of Tourism.
Vodafone Egypt launched a new mobile application for blind and visually impaired users called “E3rafli” (an Arabic word for “Find out for me") to help them recognize basic things and services through their mobile phones.
The Egyptian cabinet has agreed to purchase one million barrels of oil from Iraq monthly, according to a statement by the North African nation’s Oil Minister Tareq el-Molla on Tuesday.
Egyptian billionaire businessman and the Chairman of Orascom Telecom, Media and Technology, Naguib Sawiris, has launched a new bank that operates in several European countries.
Egyptian Minister of Communications and Information Technology Yasser ElKady has held talks with his Immigration and Egyptian Expatriate Affairs counterpart Nabila Makram, on the significance of using and integrating ICTs to serve Egypt's nationals abroad.
The African Export-Import Bank has successfully signed a JPY11 billion equivalent Samurai Syndicated Term Loan Facility comprising two tranches of JPY4 billion and USD70 million.
Telecom Egypt's board has chosen Ahmed El Beheiry as the state-owned landline monopoly's new chief executive officer, the company said in a statement on Tuesday.
The African Development Bank top Executive in charge of the African Natural Resources Center Amani Abou-Zeid was elected African Union Commissioner for Infrastructure and Energy at the latest AU Summit in the Ethiopian capital Addis Ababa.
Almosafer released its new flight-reservation feature for both their web and mobile app platforms. The service is valid for customers travelling to and from the Saudi Kingdom through more than 500 airlines globally
Increased Infrastructure, Labour-Intensive Manufacturing Key to Africa’s Industrial Competitiveness - Afreximbank President
"At this stage, it might be better to import fabrics and transform them into garments or to produce and assemble other labour-intensive light-manufacturing goods rather than processing raw materials in a way that may not enable Africa to compete globally”.
QNB ALAHLI and global payments technology company Visa are launching mVisa, a seamless and secure mobile solution for instant cashless payments, in Egypt. mVisa, which brings the benefits for easy and secure digital commerce to financial institutions
South Sudan has initiated moves to become a member of the African Export-Import Bank (Afreximbank), the Cairo-based continental multilateral financial institution established to promote and finance African trade.
SDX Energy, the North Africa focused oil and gas company, has announced the commencement of drilling operations on the SD-1X well at its South Disouq concession in the Nile Delta area of Egypt.
In its quest to manufacture its own mobile phones, Egypt has been constructing a mobile phone factory in Assiut Technological Park which is expected to be completed within the next few weeks.
Egypt is one of the fastest growing and most promising economy in Africa. Egypt's high growth rate in recent years was driven by high international tourist inflow, growth in trade & logistics and ICT market. Egypt GDP is growing at a moderate rate of 4.3% in 2015.
Infor, a leading provider of beautiful business applications specialized by industry and built for the cloud,has announced the acquisition of Accentia Middle East, an Infor partner serving the Middle East, North Africa, and India (IMEA) region.
Innoventures has just opened applications for the fourth cycle of its accelerator program ‘Startup Reactor’ in partnership with VC4A after a successful third cycle and its grand finale last December.