Tag: Egypt
Egypt’s net foreign reserves drop slightly amid IMF talks
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...
Central Bank of Egypt raises cash withdrawal limits
The Central Bank of Egypt (CBE) raised the maximum amount of cash customers are allowed to withdraw from their bank accounts and scrapped limits...
Anchorage Investments shortlists 4 international contractors for $2 billion petrochemicals project
Egypt’s Anchorage Investments, which develops and operates industrial projects in the petrochemicals sectors, said Tuesday that it has shortlisted four international contractors in the...
EFG Hermes’ BNPL firm valU acquires HR and payroll platform Paynas
Egyptian buy now pay later (BNPL) firm valU said Tuesday that it has acquired Paynas, a full-fledged employee management and benefits company that offers...
Central Bank of Egypt keeps key interest rates unchanged, names acting governor
The Central Bank of Egypt (CBE) kept its interest rates unchanged on Thursday, a day after Governor Tarek Amer stepped down just over a...
Egypt’s Convertedin raises $3 million in seed round, plans expansion
Convertedin, an Egyptian startup that operates a marketing system for e-commerce brands, raised $3 million in a seed round led by Saudi-based Merak Capital...
Saudi wealth fund-backed Egyptian investment firm invests $1.3 billion in four firms
Egypt’s planning ministry said Wednesday that the Saudi Egyptian Investment Company (SEIC), which is owned by the Public Investment Fund (PIF), has acquired minority...
EFG Hermes signs a $39.2 million sale and leaseback deal with Egypt’s Marakez
Egyptian universal bank EFG Hermes said Wednesday that its leasing and factoring arm has signed a $39.2 million (EGP 750 million) sale and leaseback...
UAE’s Chimera Investment acquires a 55.9% stake in Beltone Financial
Abu Dhabi-based Chimera Investment said Tuesday that it has acquired a controlling stake in Egypt’s Beltone Financial Holding as part of the private investment...
Saudi wealth fund PIF launches company for Egypt investments
Saudi Arabia’s Public Investment Fund (PIF) has launched a company that will invest in promising sectors throughout Egypt including financial services, infrastructure as well...