Projects from Egypt’s private sector showed strongly at the just concluded Africa Investment Forum during which transactions close to US$50 billion were promoted by sponsors in three days of Boardroom sessions.
Liquid Telecom has extended the availability of Microsoft Azure from the Cape to Cairo, continuing its lead in the African cloud revolution.
The CEO of Petroleum & Petrochemicals, Mubadala Investment Company, Musabbeh Al Kaabi, and the CEO of Eni, Claudio Descalzi, have today signed an agreement for the sale of a 20% participating interest to Mubadala Petroleum.
TechnipFMC has signed an Engineering, Procurement, and Construction (EPC) contract with Middle East Oil Refinery (MIDOR) for the modernization of existing complex near Alexandria, Egypt
The IMF staff team and the Egyptian authorities have reached a staff-level agreement on the fourth review of Egypt’s economic reform program, which is supported by the IMF’s SDR 8.597 billion .
Greater economic integration through increased investment flows into Africa
About 70 stakeholders comprising executives and planning experts, statistics executives and experts, members of the civil society and representatives from the private sector will converge in Yaounde to review and validate two ECA studies on accountability and statistics in development planning in Cameroon.
Egypt’s ministry of ICT has signed an agreement with Intertek, specialized in inspection, physical tests, and certification.
CR2, global banking software company, is negotiating with two banks operating in the Egyptian market to provide e-payment services, according to the company’s regional director Sherif Soliman.
Among the flights that are expected to be launched to accommodate the increasing number of tourists visiting Sharm El-Sheikh are flights from Azerbaijan to Sharm El-Sheikh that will start operating on November 8.
Telecom Egypt has signed a $500million medium-term syndicated loan, which will be used to support its capital and operational expenditure and refinance an existing short-term facility.
The UK fund will include support for teacher training, through the ministry’s flagship education programme, and support children’s education in governorates across the country.
EgyptAir will launch two new routes in the African continent as of the end of January 2019. The new routes are to Kigali, Rwanda and Douala, Cameroon.
Russian Foreign Minister Sergei Lavrov said on Saturday that his country was eager to work with Egypt to boost airline security, three years after a bomb attack downed a Russian plane, killing more than 200 holidaymakers.
The volume of trade exchange between Egypt and France hit $1.4 billion during the first eight months of 2018, with $460 million in exports and $999 million imports.
Egypt’s Aviation Ministry has begun finalizing the preparations to open the Sphinx Airport, west of Cairo to become the 33rd Egyptian airport.
Egypt's first smartphone maker is looking to enter the broader African market by the end of 2018 or early 2019 as it seeks to boost exports, its sales director said.
Philip Morris International Inc. has been recognized for the third consecutive year as a Top Employer in Africa, awarding the company’s commitment to creating an excellent work environment for its employees.
Moody's Investors Service upgraded its outlook of the Egyptian banking system to positive from stable.
Egypt’s The Next 100 African Start-ups initiative, organized jointly by the country's Ministry of Investment and International Cooperation (MIIC) and the International Finance Corporation (IFC) has announced that it will invest in 100 promising startups from Africa.
Egypt’s foreign reserves increased by $40 million by the end of September 2018 to reach $44.459 billion, compared to $44.419 billion by the end of August 2018, according to the Central Bank of Egypt.
The Egyptian automotive market will maintain the growth rates achieved during the first half of 2018, Former Head of the Automobile Manufacturers Association Hassan Mostafa said.
Egypt’s first mobile community platform for the real estate industry iCommunity has announced $600K in Series A funding from Algebra Ventures, Egypt’s largest venture capital fund.
Telecom Egypt has signed an agreement with Bharti Airtel to formalize its strategic partnership announced on 6 August 2018.
The U.S. Trade and Development Agency, USTDA, has awarded a grant to Benchmark Power International SAE (BPI), an Egyptian independent power developer, supporting the development of a combined cycle gas turbine power plant at Tawerat, Egypt.
Oil and gas exploration company Noble Energy, Inc. has announced that it has executed multiple agreements to support delivery of natural gas from the Leviathan and Tamar fields, offshore Israel, into Egypt.
Infor, a provider of industry-specific cloud applications, has announced that Ibnsina Pharma, one of Egypt's largest distributors of pharmaceutical products, has invested in Infor EAM warehouse management system.
IFC, a member of the World Bank Group, has signed an agreement with Banque Misr, Egypt’s second-largest bank, to help expand the number of women-led businesses in its SME Banking portfolio.
The OPEC Fund for International Development – has extended grants in support of the Regional Centre for Renewable Energy and Energy Efficiency (RCREEE) and Bibliotheca Alexandrina.
Telecom Egypt announces that its board of directors has approved the acquisition of 50% of its subsidiary Egyptian International Submarine Cable Company at a value of USD 15mn.
OFID, the OPEC Fund for International Development has extended grants in support of the Regional Centre for Renewable Energy and Energy Efficiency (RCREEE) and Bibliotheca Alexandrina.
Despite an economic slowdown, most African countries are reported to have a positive economic outlook. This is according The Institute of Chartered Accountants in England and Wales, ICAEW.
The African Export-Import Bank has closed a Korea-focused $150 million club facility which has Shinhan Bank as coordinator and lender.
Egypt has seen a two percent drop in its software piracy rate to reach (59%), the U.S.-based Business Software Alliance said in its recent study, released last June.
Egypt has seen a two percent drop in its software piracy rate to reach 59 per cent, the U.S.-based Business Software Alliance said in its recent study, released last June.
Telecom Egypt has announced the conclusion of the acquisition of Middle East and North Africa Submarine Cable, MENA Cable, from Orascom Investment Holding.
Egypt's Minister of Petroleum and Mineral Resources Tarek El-Molla signed on Saturday two deals with international firms to explore for petroleum and gas in two deep-water areas in the Mediterranean and the Western Desert.
Convergys Corporation, a global player in Customer Management Outsourcing, is one of the largest and expanding BPO companies in Egypt.
The International Islamic Trade Finance Corporation (ITFC) has signed two new Agreements between with the Government of the Arab Republic of Egypt.
The International Islamic Trade Finance Corporation has announced the signing of two new Agreements between ITFC & the Government of the Arab Republic of Egypt, initiating the utilization of the 5th Framework agreement.
Based on H1 2018 figures from STR, provider of data and analytics for the global hotel industry, Marrakech has emerged as a standout performer among key African cities.
The African Export-Import Bank (Afreximbank) has met in Cairo with leaders of the Egyptian Banking sector to present a new trade facilitation programme which it has developed to transform Africa's trade.
Egypt has agreed with Việt Nam to import one million tonnes of white rice for the next three to four months after curtailing cultivation earlier this year.
Eni announces a gas discovery in the Egyptian Western Desert. The discovery well has been drilled on the Faramid South exploration prospect located in East Obayed concession, 30 km North-West of the Melehia Concession.
IFC, a member of the World Bank Group, and Egypt’s Ministry of Investment and International Cooperation (MIIC) have signed an agreement to support young entrepreneurs and start-ups in Africa to drive innovation and economic growth.
UN-Habitat, General Organization for Physical Planning and New Urban Communities and UN-Habitat have announced the launching of the project RAS EL HEKMA Waterfront new city in Egypt.
North Africa focused oil and gas company SDX Energy Inc. has announced a successful production test at its SD-3X appraisal well at South Disouq, Egypt.
Telecom Egypt has announced that its consolidated results slipped 18.2 percent during the first half of 2018, recording LE 2.06 billion, compared to LE 2.52 billion during the same period of 2017.
A new Concession Agreement, aimed at governing an offshore exploration license in the prolific East Nile Delta Basin of the Mediterranean Sea, has received approval by Egyptian authorities.
Telecom Egypt has announced its quarter two 2018 financial results ending 30 June 2018 with a strong operational performance indicating the success of its long-term investment strategy.
Oil and gas exploration multinational Eni has announced that a new concession agreement has received approval by Egyptian authorities.
The Venture lab at The American University in Cairo, AUC Venture Lab and Temenos, the banking software company, have announced their intention to collaborate and strengthen the fintech ecosystem in Cairo.
Telecom Egypt and Etisalat Misr have signed a memorandum of understanding (MoU) to provide the latter with virtual fixed voice services.
IFC, a member of the World Bank Group, committed $1.2 billion in Egypt during the recently concluded 2018 fiscal year, helping to create jobs, improve local infrastructure, and boost economic growth.
Egyptair Cargo has received the A330-200 Passenger-to-Freighter, P2F, converted aircraft from the Elbe Flugzeugwerke GmbH, EFW.
Bharti Airtel and Telecom Egypt have announced a strategic partnership, where Airtel will get IRUs (Indefeasible Right of Use) on Middle East North Africa Submarine Cable (MENA Cable) and TE North Cable Systems.
The African Export-Import Bank (Afreximbank) has disbursed the sum of $200 million to the Egyptian General Petroleum Corporation (EGPC) to support EGPC's investment in the Middle East Oil Refinery Company.
Egypt and the United States have signed five bilateral assistance agreement amendments worth $45 million that demonstrate continued support from the American people for joint U.S.-Egypt priorities in health, education, governance, and agriculture.
Dubai has moved to further strengthen the emirate’s business and investment ties with Egypt, following meetings with a high-level Egyptian delegation.
Energy Recovery, Inc. a company involved in pressure energy technology for industrial fluid flows, has announced a $3.3 million award to supply its PX® Pressure Exchanger® for a water project in Egypt.
The Econet Group and Telecom Egypt have signed a memorandum of understanding that will enable Econet’s Liquid Telecom unit to complete a terrestrial fibre optic network stretching all the way from Cape Town in South Africa to Cairo.
The International Finance Corporation is committed to financially support Egypt’s private sector with a $2 billion fund by 2019, a value which might increase to fund entrepreneurship and SMEs.
The Central Bank of Egypt, on behalf of the Ministry of Finance, issued LE 3 billion ($167.46 million) in treasury bonds Monday.
Liquid Telecom and Telecom Egypt have announced the signing of a Memorandum of Understanding that will enable Liquid Telecom to shortly complete Africa’s terrestrial fibre network stretching all the way from Cape Town, South Africa, to Cairo, Egypt.
Marriott International announces the launch of Tahseen in Egypt, a hospitality training program developed in response to a growing need for talent within the industry.
The Central Bank of Egypt announced a rise in remittances from Egyptians working abroad by 41.2 percent in April, reaching about $2.3 billion compared to $1.7 billion during the same month last year.
Telecom Egypt and Orange Egypt have announced the signing of a renewal of their international telecom services agreement, first signed in January 2015 for a period of four years.
Eni announces a second light oil discovery on the B1-X exploration prospect located in South West Meleiha license, in the Egyptian Western Desert, some 130 Km North of the oasis of Siwa.
A.M. Best has affirmed the Financial Strength Rating of B++, Good and the Long-Term Issuer Credit Rating of “bbb” of Arab Misr Insurance Group S.A.E., gig-Egypt.
Telecom Egypt and Etisalat Misr have signed an amendment of the national roaming agreement sealed in June 2017. The amendment provides better financial and service quality terms availing improved commercial conditions for Telecom Egypt.
The Central Bank of Egypt has launched an initiative to relieve 3,500 companies and 337,000 individuals from interest payments on non-performing loans.
National Aviation Services (NAS), the aviation services provider in emerging markets, inaugurated its Pearl Lounge at the Cairo International Airport recently.
IFC, a member of the World Bank Group, and the Financial Regulatory Authority of Egypt have launched a consultation process for guidelines to foster the development of the country’s green bond market and help address climate change.
Zimbabwe, Egypt and Ghana are the leaders when comparing their September 2017 risk-reward score with the score from June 2018, according to the Africa Risk-Reward Index from Control Risks and Oxford Economics.
Effective 28 October 2018, Etihad Airways, the national airline of the UAE, will introduce a 299-seat next-generation Boeing 787-9 Dreamliner on its daily mid-morning EY653 / EY654 schedule from Abu Dhabi to Cairo.
Global air services provider dnata has expanded its partnership with Egyptair in Dubai.
Telecom Egypt obtains $200 million long-term financing with Chinese financial institutions facilitated by Huawei
Telecom Egypt and Huawei announced the signing of a US$200 million long-term financing with Chinese financial institutions including the Bank of China and China Export & Credit Insurance Corporation.
Clarivate Analytics partners with the Egyptian Knowledge Bank to power the first Arabic citation index
Clarivate Analytics has partnered with the Egyptian Knowledge Bank, the Egyptian government's digital library and online knowledge hub to launch the first Arabic Citation Index
The African Export-Import Bank, Afreximbank, has committed up to $200 million to Telecom Egypt to enable the telecommunication company finance working capital.
The Egyptian parliament has preliminarily approved a draft law for fighting cybercrimes, pending a final vote when two thirds of Parliament attend the session.
IFC, a member of the World Bank Group, is providing up to $100 million in debt financing to Egyptian Fertilizers Company (EFC), part of efforts to support Egypt's crucial manufacturing sector.
Telecom Egypt announces that its Board of Directors has approved two strategic decisions to increase its return on investment, and provide the liquidity to facilitate the implementation of its business plan.
IFC, a member of the World Bank Group, is providing a $15 million loan mainly in Egyptian pounds to Vinavil Egypt for Chemicals, a leading manufacturer of construction-related materials, to help the company boost production and create jobs.
iflix, the global player in entertainment service for emerging markets has announced the launch of its exclusive partnership with Egypt’s mobile operator, Vodafone Egypt to offer Vodafone subscribers unlimited access to iflix’s vast library of thousands.
IFC, a member of the World Bank Group, and Daltex, an agribusiness producer in Egypt have signed a Memorandum of Understanding to increase economic opportunities for its women employees and smallholder farmers.
Microsoft Egypt has launched a female empowerment campaign dubbed #MakeWhatsNext designed to encourage young females to consider careers in STEM (Science, Technology, Engineering, and Math) related industries.
Italian multinational oil and gas company Eni has announced the start-up of the second production unit of the Zohr project in Egypt.
Lockton Middle East and North Africa has continued the expansion of its regional footprint with the launch of its new Cairo office as the business looks to take advantage of the strengthening Egyptian economy.
The National Bank of Egypt has joined enterprise software firm R3’s global blockchain, an initiative of over 200 financial services firms comprising technology companies, banks, trade associations, and regulators, according to bank officials.
The National Bank of Egypt has joined enterprise software firm R3’s global blockchain, an initiative of over 200 financial services firms comprising technology companies, banks, trade associations and regulators, according to bank officials.
The President of Tanzania, John Pombe Magufuli, and the President of the African Development Bank, Akinwumi Adesina, commissioned the Dodoma-Babati road project on Friday.
Telecom Egypt has launched We Internet, a revamped version of its fixed broadband service. Subscribers can now get service at up to 100 Mbps instead of the old maximum of 16 Mbps.
The United Bank of Egypt (UB) and the Industrial Development Authority (IDA) signed a joint cooperation protocol last week aimed at supporting small and medium enterprises (SMEs).
The top ten economies by Gross Domestic Product in Africa all have active competition regulation, save for Angola and Nigeria but those countries are in the process of establishing completion law regimes, which are expected to be up and running soon.
The Egyptian Government has again outlined plans to eliminate electricity subsidies, in order to allow some form of free market involving the private sector.
Etihad Airways, the national airline of the UAE, and Egyptian national airline EGYPTAIR, have announced a significant expansion of their successful codeshare partnership, widening their horizons to cover more destinations in Africa, North Asia and Australia.
The World Bank announced today a new US$500 million investment in Egypt’s education reforms, to support increasing access to quality Kindergarten education, improving the quality of learning and adopting technology as a vehicle to achieve the reform objectives.
SDX Energy Inc., the North Africa focused oil and gas company, has discovered gas at its Ibn Yunus-1X exploration well at South Disouq, Egypt.
Egypt’s non-oil exports recorded $3.8 billion in the first two months of 2018, with an increase of $500 million, compared to $3.3 billion in the same months of 2017, according to General Organization for Export and Import Control.
The African Export-Import Bank (Afreximbank) and the Indonesia Eximbank yesterday in Bali, Indonesia, entered into an agreement to commit up to $100 million to support businesses and trade activities between Indonesia and African countries.