SPECIAL REPORT Trade Bolstering Egypt’s trade with Africa Egypt's portfolio of multilateral trade deals includes the largest continental free trade agreement in the world. We look at how it can do more business in Africa – a market of 1.5 billion people In association with
Economy Egypt’s headline inflation nearly halves in February Egypt’s annual urban consumer price inflation plunged to 12.8 percent in February from 24 percent in January, decelerating even faster than analysts had expected, official data showed on Monday. The drop was amplified by a statistical base effect, as exceptionally fast price increases of the past two years were no longer reflected in the statistics, […]
Economy Egypt’s net foreign assets jump in January Egypt’s net foreign assets (NFAs) jumped by $2.74 billion in January, boosted by the sale of $2 billion in dollar-denominated bonds, central bank data showed. NFAs climbed to the equivalent of $8.7 billion from $5.96 billion at the end of December, according to Reuters calculations based on the official central bank currency rates. The increase […]
Analysis Markets Egypt’s bourse rally endures despite shaky foundations Cairo’s share index has trebled over the past two years as increasing numbers of Egyptians invest in stocks to preserve their wealth in response to double-digit inflation and a declining national currency. Company valuations remain cheap compared with regional peers, experts say, and so the market rally in Egypt may endure. However, the absence of […]
Opinion Economy Egypt’s economy is bouncing back – for now More fundamental changes are needed for long-term growth
Economy Remittances to Egypt almost double to reach $26bn Remittances from Egyptian expatriates hit a new record in the first nine months of fiscal year 2024/2025, driven by renewed confidence in the economy. Inflows surged by 83 percent to $26.4 billion between July 2024 and March 2025, compared with $14.4 billion a year earlier, Egypt Today reported, quoting the Central Bank of Egypt (CBE) […] June 6, 2025
Manufacturing Volkswagen explores Egypt as production hub German carmaker Volkswagen AG is reportedly planning to set up a factory in Egypt to expand its presence in the African continent as demand slows in Europe. “We are very interested in Egypt as a production hub,” Volkswagen Group Africa’s managing director, Martina Biene, told Bloomberg. The factory announcement is expected to be made soon, the […] June 4, 2025
Construction Egypt unveils ‘megacity’ with 35,000 housing units Egypt is building a “megacity” west of Cairo, which will have a man-made channel to divert water from the Nile River to support irrigation. Jirian, meaning “flow” in Arabic, will initially house 35,000 residential units and is expected to create 250,000 jobs in the New Delta region, the official State Information Service reported. Prime Minister […] June 2, 2025
Banking and Finance How MNT-Halan became one of Egypt’s biggest lenders Egypt’s population is well over 100 million and, while famously entrepreneurial, is often unbanked or financially excluded. For investors, the loans market has long been seen as the Middle East’s financial holy grail – alluring, but ultimately unattainable. App-based lender MNT-Halan, though, may be the first to be able to say it has cracked the […] June 2, 2025
Health Egypt targets local pharma production to slash imports Egyptian pharmaceutical companies are reportedly planning to increase their production capacity to reduce annual imports of $3 billion. The companies are due to add 20 new production lines this year by investing EGP4 billion ($80 million) to support local production, Ashraq Business, an Arabic financial portal, reported, citing Gamal El-Leithy, head of the pharmaceutical chamber […] May 30, 2025
Renewable Energy Egypt awards renewable energy projects worth $400m Egypt has approved four new private sector-backed renewables projects to help achieve its 2030 green energy target. The solar and wind energy projects are expected to generate 400 megawatts (MW) and are being built for $388 million, according to local media reports, which quoted a ministry statement. The companies involved are Neptune for Electricity Production […] May 29, 2025
Economy IMF urges Egypt to move faster on asset sales to create jobs Egypt must be even more ambitious in its efforts to bolster growth and employment prospects as its economic picture gradually improves, the International Monetary Fund said on Tuesday. The Egyptian government should in particular move forward with plans to sell state assets and work towards “decisively reducing the role of the public sector in the […] May 28, 2025
Infrastructure Plans ready for Egypt-Saudi Arabia bridge project Egypt is working to integrate the country into a railway network connecting Asia and Europe, but a long-planned bridge that would link Saudi Arabia to Egypt’s Sinai Peninsula has yet to be finalised, transport minister Kamel Al-Wazir said on Sunday. Egypt has been expanding its railways along seven separate axes, he said. These include three […] May 26, 2025
Economy Egypt’s non-oil trade deficit narrows as exports surge Egypt’s non-oil trade deficit has narrowed substantially in the first four months of 2025 amid a surge in exports, according to local media. The non-oil trade deficit, the difference between the value of exports and imports, fell 28 percent to $8 billion, Ashraq News, an Arabic news portal, reported citing a government document. Non-oil commodity […] May 26, 2025
Video length: 04:39 VIDEO Real Estate Investors buy in El Gouna to hedge against Egypt’s real estate As the luxury town of El Gouna celebrates its 35th anniversary this year, it is as popular as ever. The 37 million square metre development off the Red Sea coast of Egypt is made up of 10 districts including residential, commercial and retail, and houses 25,000 permanent residents. Despite it being one of the most […] May 25, 2025
Economy Egypt cuts interest rates as economy grows Egypt’s central bank said on Thursday that it was cutting overnight interest rates, as it expects economic recovery and lower inflation. The monetary policy committee (MPC) lowered the overnight deposit and lending rates by 100 basis points to 24 percent and 25 percent, respectively, its second rate cut this year, the bank said in a […] May 23, 2025
Banking and Finance Egypt’s EFG Holding revenue falls on previous forex gain Egyptian financial services company EFG Holding’s revenue declined by an annualised 34 percent in the first quarter, due to an exceptional foreign currency gain in the same period of 2024, the company said on Wednesday. Revenue fell to EGP5.6 billion ($112.5 million), while net profit after taxes and minority interests fell 34 percent to EGP1.2 billion […] May 22, 2025
Economy EU clears €4bn loan for Egypt’s economic growth The European Union (EU) has got clearance to disburse €4 billion ($4.2 billion) in financial aid to Egypt to support its economic growth. “The representatives from parliament and the Polish presidency of the council have secured a provisional agreement on providing Egypt with macro-financial assistance,” the EU said in a statement. Egypt will have 35 […] May 21, 2025
Real Estate Egypt’s Talaat Moustafa to invest $4bn in Oman Talaat Moustafa Group, a leading Egyptian real estate developer, says it will invest OR1.5 billion ($3.9 billion) in Oman to expand in the GCC region after entering Saudi Arabia last year. Two projects will be developed in west Muscat, offering 13,000 residential and hotel units, the company said in a statement. The developer has signed […] May 20, 2025
Manufacturing Egypt looks to China for cash injection to lift textiles industry A delegation from China’s textile industry visited Egypt this week as part of the Cairo government’s strategy to attract investment to its fabric and garment businesses, local media has reported. The group of 37 Chinese business leaders and representatives from 25 companies met Mohammed El Shimy, Egypt’s minister for public enterprises, to discuss partnerships with […] May 14, 2025
Logistics Suez Canal considers transit fees discount to revive traffic Egypt’s Suez Canal Authority chief, Osama Rabie, said the authority is considering offering discounts ranging from 12 to 15 percent on transit fees to help restore traffic in the strategic waterway reeling from attacks by Yemen’s Houthis on Red Sea shipping. Rabie told privately owned Sada Al-Balad television channel in a phone interview that the […] May 13, 2025
Banking and Finance Egypt renews warning over dealing in cryptocurrencies Egypt has issued a fresh warning against dealing in bitcoin and other cryptocurrencies following a surge in local online advertisements for investment in these tools. The Financial Regulatory Authority (FRA) said these currencies lack official financial backing that guarantees their stability and that they could be used in terror funding. In a weekend statement on […] May 12, 2025
Trade Egypt and Russia increase trade after record 2024 Trade between Russia and Egypt rose sharply in the first two months of 2025 after setting a new record in 2024. “Last year bilateral trade turnover increased by more than 30 percent, reaching $9 billion,” state-run TASS news agency reported quoting Russian president Vladimir Putin speaking at a meeting with Egyptian President Abdel Fattah El-Sisi. […] May 12, 2025
Oil & Gas Egypt clears $1.2bn in dues to foreign oil companies Egypt has reportedly paid $1.2 billion this month to foreign oil companies to settle part of its overdue debts. Total arrears to foreign oil companies operating in oil and gas exploration and extraction has reached $7.5 billion, up from $6.3 billion at the beginning of April, an unnamed government official told Asharq Business, an Arabic […] May 12, 2025
Economy Egypt’s inflation climbs as fuel becomes expensive Egypt’s annual urban consumer price inflation accelerated to 13.9 percent in April from 13.6 percent in March, matching analyst expectations, data from statistics agency Capmas showed on Saturday. Month on month, prices were 1.5 percent higher at the end of April than at end-March. Food and beverage prices decelerated by 1.5 percent. Annually, food and […] May 12, 2025
