SEMAF, NERIC partner to manufacture railway, metro trains for local market, export
The SEMAF factory, part of the Arab Organization for Industrialization (AOI), has signed a cooperation protocol with the Egyptian National Railways Industries Company (NERIC) to produce advanced railway and metro…
Somali-Ethiopian reconciliation prompts Egypt to reassess regional role: African Narratives
A new report from the African Narratives think tank reveals that a recent reconciliation agreement between Somalia and Ethiopia, brokered by Turkey, is forcing Egypt to re-evaluate its strategic position…
Fate of Syria’s Kurdish autonomous region uncertain after Assad’s fall
Discussions are underway regarding the future of the so-called "Autonomous Administration of North and East Syria" following the fall of Bashar Al-Assad's regime this month. The Kurdish-led region, controlled by…
ABE’s crop loan portfolio reaches EGP 25.6bn in September 2024
Sami Abdelsadek, Acting Chairperson of the Agricultural Bank of Egypt (ABE), announced that the bank is focusing on developing the agricultural sector and fostering rural development. He highlighted that loans…
Al-Ahly Mortgage Finance aims to grow portfolio to EGP 4bn by 2024-end
Hatem Amer, Managing Director of Al-Ahly Mortgage Finance, a subsidiary of the National Bank of Egypt (NBE), announced that the company aims to achieve exceptional growth in its financing portfolio,…
CIB completes second securitization transaction for One Finance, worth EGP 679m
Commercial International Bank – Egypt (CIB) has completed the second issuance of securitization bonds for One Finance, valued at EGP 679m. The issuance was structured into three tranches, with maturities…
CBE extends inflation target horizon to Q4 2026 at 7% (± 2%), Q4 2028 at 5% (± 2%)
The Central Bank of Egypt (CBE) has decided to extend its inflation target horizon, setting an average target of 7% (± 2%) for the fourth quarter (Q4) of 2026, and…
Zambia, Saudi Arabia sign debt restructuring deal
Zambia and Saudi Arabia have formalised a debt restructuring agreement to reschedule more than $130m of Zambia’s debt to the Arab nation, according to DNE Africa. The agreement was signed…
TMT invests EGP 100m in new customs bonded area at Hossni El-Antably station
Transmisr Transportation and Trading (TMT) has announced the inauguration of its new customs station, the Hossni El-Antably Customs Bonded Area, with an initial investment of EGP 100m. The facility, located…
Egypt needs 450k housing units annually to meet population growth: Minister
Egypt requires approximately 450,000 new housing units each year to accommodate the growing demand driven by population growth, according to Minister of Housing, Utilities, and Urban Communities Sherif El-Sherbiny. During…
