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Microfinance activities record EGP 25bn in October 2021: FRA
The volume of microfinance activities in Egypt increased by 40.01% to EGP 25.01bn in October 2021, compared to the EGP 17.86bn recorded a year earlier, according to a report by the Financial…
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Egypt sees launch of first super-app in MENA region
PaySky — the leading payment solutions provider and technology partner to Egypt Post and Visa — has been working relentlessly to bring the Egyptian Market the “Yalla Super App”; a home-grown version…
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Egypt’s Annual urban inflation rose to 5.9% in December
nnual urban inflation rose to 5.9% in December from 5.6% in November, ending a two-month downward trend despite a slowdown in food price inflation, according to figures released yesterday by…
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Morocco, Egypt reach agreement to exempt auto imports from fees
Morocco and Egypt have reached an agreement to exempt Renault cars produced in Tangiers from import fees, Moroccan outlet Hespress reported Industry and Trade Minister Ryad Mezzour as saying during a…
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Egypt’s mobile wallet transactions surge 160% to EGP 233bn in 2021
Mobile wallets in Egypt increased by 27% year-on-year to 25 million in 2021, with 227 million transactions, almost double the volume of transactions in 2020, according to the Financial Regulatory…
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ADIB Egypt raises capital of its consumer finance company to EGP 30m
Abu Dhabi Islamic Bank (ADIB) Egypt has announced an increase in the issued and paid-in capital of the Abu Dhabi Islamic Consumer Finance (ADI-CF) — its new arm for consumer finance in Egypt — from…
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Egypt’s Trade Minister inaugurates 18th PLASTEX for plastics, petrochemical industries
Minister of Trade and Industry Nevine Gamea inaugurated on Sunday the 18th edition of Egypt’s international plastics exhibition, PLASTEX, which will be running for the next four days and aims to…
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National Bank of Egypt posts pretax profit of EGP48.263 billion in 15 months
The National Bank of Egypt (NBE) announced that its pretax profit rose to 48.263 billion Egyptian pounds ($3.1 billion) in the July 2020 to September 2021 period.
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Investors calls for abolishing customs tariffs on solar panels to eliminate trade barriers
More than 100 investors at the Solar Energy Development Association (SEDA Egypt) sent a letter to the Minister of Electricity Mohamed Shaker calling for abolishing customs tariffs on imports of solar…
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CBE auctions EGP 21.25bn more debt instruments
The Central Bank of Egypt (CBE) has offered on Sunday, 9 January, treasury bills (T-bills) and bonds (T-bonds) at a combined value of EGP 21.25 billion through four auctions, according to official…
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