Finance News
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Egypt receives first tranche of EU’s Macro-Financial Assistance program
The €1 billion tranche was deposited into the Central Bank of Egypt last Friday as part of the financial assistance.
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Egypt to acquire additional shares contributing $28.9 mln to IFC capital
resident Abdel-Fattah El-Sisi issued Decree No. 110 of 2024 to approve Egypt's acquisition of an additional 28,940 shares in the IFC.
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9 golden licenses awarded to investment projects
By granting these golden licenses, Egypt reinforces its position as a hub for strategic investment and economic development.
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Saudi Jarir, Aman Egypt to establish over $26mln finance company
After obtaining the necessary regulatory licenses, Aman Egypt will hold a 49% stake in the joint venture’s shares.
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Egypt’s GDP growth reaches 3.5% in Q1 FY2024/25
Private investments grew by 30%, reaching EGP 133.1 billion, compared to EGP 102.3 billion in the same quarter of the previous year.
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Egypt received €1 bln first tranche of EU €7.4 bln financing package
On 20 December, the EU approved the disbursement of the first tranche to Egypt as part of its macro-financial assistance (MFA) to the country.
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Egyptian Investments in Africa Surpass USD 14 Billion
Foreign minister Badr Abdelatty noted that the figure reflects Egypt’s commitment to fostering economic growth across Africa.
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Egypt real GDP growth recovers to 3.5% in Q1 FY24/25
The real GDP growth rate recovered to 3.5 percent during the first quarter (Q1) of the fiscal year (FY) 2024/2025, from 1 July to 30 September.
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Private sector investments in Egypt surges to LE 133.1B during FY 2024/2025
Public investments experienced a sharp decline, contracting by 60.5 percent to LE 57 billion, down from LE 144.4 billion in Q1 of FY 2023/2024.
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Egypt central bank sells $840 mln in USD-denominated T-bills
The Central Bank of Egypt (CBE) announced on its website that it sold $840 million in USD-denominated treasury bills (T-bills) with a 364-day maturity
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Foreign Direct Investments surged 11-fold during FY2023/2024
This growth highlights Egypt's growing attractiveness to international investors. The country drew in $46.1 billion in FDI.
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Egypt's total investments hit LE 1.6 trillion with 98.5% implementation rate
significant investments in social development, including LE 11.5 billion for the construction and renovation of 23 hospitals and health centers.
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CBE extends exemption from transfer fees on InstaPay for 3 months
These services provide numerous benefits, including convenient and timely access to banking services anywhere.
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AfDB agreement to support private sector development program approved by Parliament
Al-Mashat explained that the main goals of the Private Sector Development and Economic Diversification Program are twofold.
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Egypt accomplished 98.5% of its FY23/24 investment target
The total investments executed in the fiscal year 2023/2024, which ended on 30 June, reached 98.5 percent of the targeted EGP 1.65 trillion.
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CBE raises withdrawal limits for financial inclusion
CBE kept the daily and monthly maximum limits for transactions on prepaid cards and mobile payment services as stated in November.
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Egypt unlocks IMF funds after fourth loan review
Since 2020, Egypt has been navigating economic challenges exacerbated by global disruptions, including the pandemic and rising inflation.
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Egypt’s $38.7 bln debt repayment in 2024: what comes next?
In 2024, Egypt repaid $38.7 billion in external debt, including a substantial $7 billion in the final two months of the year.
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Valu issues LE 10 billion securitization bonds
Since launching the first securitization bond issuance in 2021, the company has continued to expand its financial services package.
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CBE's December meeting: Will rates remain unchanged amid inflation decline?
HC Securities & Investments expected the CBE to keep the current interest rates unchanged despite recent inflation readings.