Tag: Egypt
Abu Dhabi-owned SODIC seeks to acquire Orascom Real Estate for $125 million
Egyptian property giant Sixth of October for Development and Investment Company (SODIC) has submitted a non-binding offer to fully acquire Orascom Real Estate for...
Central Bank of Egypt plans to develop new currency indicator
Egypt’s central bank governor said Sunday that the country plans to develop a new currency indicator and add instruments to hedge against risks as...
Qatar set to invest $2.5 billion in Egyptian companies, says report
Qatar is reportedly in advanced talks to acquire as much as $2.5 billion of state-held stakes in Vodafone Egypt, the country’s biggest mobile network...
Egyptian mass e-commerce platform Kenzz raises $3.5 million seed funding
Egyptian mass e-commerce platform Kenzz said Tuesday that it raised $3.5 million in a seed funding round led by Outliers Venture Capital as the...
Egypt nears deal with IMF after staff-level agreement
Egypt’s finance minister reportedly said that his country has finalised a staff-level agreement with the international monetary fund (IMF) on the components of its...
Egypt’s Telda raises $20 million in seed round led by Global Founders Capital
Telda, an Egyptian consumer money app, raised $20 million in a seed funding round led by Global Founders Capital (GFC) with participation from Sequoia...
Healthtech startup Vezeeta secures funds to fuel growth, bringing total funding close to $90...
Egyptian health-tech startup Vezeeta said Wednesday that it has raised new funding to fuel its growth plans and fund imminent merger and acquisition deals...
Mastercard invests in Nclude to boost Egypt’s fintech ecosystem
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...
Egypt’s headline inflation quickens to 1.6% in September
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...
Fintech ascending: Why Egypt’s banks should embrace change
There is great appetite for innovation and modernization in the Egyptian financial world right now and everybody is trying to get on board. Almost...