Tag: Egypt
Egypt secures $616 million loan from Arab Monetary Fund
The financing deal seeks to augment Egypt’s payments infrastructure, promote financial inclusion and strengthen the regulatory framework
Al Baraka Bank opens new branch in Ismailia Governorate
The inauguration of the new branch marks a significant milestone in the bank’s commitment to extend its reach across Egypt
Egypt grants ACWA Power land for 10 GW wind project
The 10 GW wind power plant is expected to provide the Egyptian economy with $6.5 billion savings in annual natural gas costs
Egypt’s CIB secures $250 million from International Finance Corporation
The bank secured a 10-year $150 million Tier II facility to support its capital position as well as the expansion of its operations
Continental Investments LMD, Finance House shore up partnership
The fund will furnish superior financing services, enabling Continental Investments LMD to broaden its footprint in the UAE and Dubai markets
Egypt set to invest $1.8 billion in offshore gas exploration
The programme, which is backed by major international companies, aims to drill 35 exploratory gas wells until July 2025
Egypt appoints World Bank’s IFC to help monetise state assets
The IFC will provide Egypt with technical assistance and advisory support to develop a strategy and implementation plan
Visa launches Africa fintech accelerator programme
The launch of the Africa Fintech Accelerator programme follows Visa’s recent pledge to invest $1 billion in Africa’s digital transformation
Cairo to host 3rd Intra-African Trade Fair in November
The decision to change the venue and dates of the continental event followed the announcement from Côte d’Ivoire that it was no longer in a position to host the trade fair
EFG Hermes’s Q1 2023 profit jumps 157% to $28.6 million
The bank said its net profit after tax and minority reached $28.6 million (EGP 885 million) in Q1 2023