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Egypt’s Telda raises $20 million in seed round led by Global Founders Capital

Arabiya Capital Staff -
Telda, an Egyptian consumer money app, raised $20 million in a seed funding round led by Global Founders Capital (GFC) with participation from Sequoia...
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Mastercard invests in Nclude to boost Egypt’s fintech ecosystem

Arabiya Capital Staff -
Mastercard said Tuesday that it has invested in Nclude, an Egyptian financial technology-focused investment fund, to accelerate the growth of the country’s fintech ecosystem...
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Egypt’s headline inflation quickens to 1.6% in September

Arabiya Capital Staff -
Egypt’s annual urban consumer inflation accelerated to 1.6% year-on-year in September, the fastest in almost four years signaling that consumers in the North African...
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Central Bank of Egypt reportedly eases foreign currency rules for imports

Arabiya Capital Staff -
The Central Bank of Egypt (CBE) reportedly eased restrictions on the use of foreign currency on Tuesday as part of the government’s broader strategy...
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Suez Canal to increase transit tolls for ships by 15% in 2023

Arabiya Capital Staff -
Egypt’s Suez Canal Authority (SCA) will increase transit tolls for ships passing through one of the world’s most vital trade routes by 15% from...
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Banque Misr gets $100 million loan from EBRD to boost green investments in SMEs

Arabiya Capital Staff -
The European Bank for Reconstruction and Development (EBRD) has granted a $100 million loan to Banque Misr to lend to small and medium-sized enterprises...
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Credit Agricole increases stake in Egyptian subsidiary

Arabiya Capital Staff -
Crédit Agricole Group acquired 60 million additional shares in its Egyptian unit Crédit Agricole Egypt, taking shareholding to 52.185% stake from 47.385%. “This bears witness...
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Egypt’s net foreign reserves drop slightly amid IMF talks

Arabiya Capital Staff -
Egypt’s net foreign reserves dropped slightly in August, the central bank said Thursday, as the North African country strives to secure International Monetary Fund...
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Egypt reportedly backing flexible pound amid devaluation calls and IMF talks

Arabiya Capital Staff -
Egypt is now backing a more flexible currency to support its economy, a top-level government official said Tuesday, as the Arab world’s most populous...
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Egypt’s non-oil activity shrinks further in August, says S&P Global

Arabiya Capital Staff -
Egypt’s non-oil private sector activity contracted for the 21st month running in August and the business outlook remains subdued amid growing concerns over the...
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