Tag: Egypt
Moody’s downgrades 5 Egyptian banks, citing weaker sovereign
Moody’s has downgraded the long-term bank deposit ratings of five Egyptian banks by one notch a week after the rating company lowered the North...
Dubai’s Network International to launch ‘direct to merchant’ payments in Egypt
Dubai-based payments processor Network International said Wednesday that it will launch its new ‘direct-to-merchant’ service offering in Egypt after receiving approval from the central...
Paymob and Khazna seek to expand access to digital financial services in Egypt
Paymob said Wednesday that it has partnered with Egyptian financial super app Khazna to expand access to digital financial services and enhance the services...
HSBC, Uber launch new on-demand cashouts in Egypt
HSBC Egypt said Wednesday that it has joined forces with Uber Technologies to launch Flexpay, a digital payments solution that provides unbanked drivers on...
Egypt’s MNT-Halan now valued at $1 billion after $400 million funding round
Egyptian fintech firm MNT-Halan said Wednesday it has raised $400 million in new equity and finance, valuing the microfinance lending and payments at more...
EFG Hermes’ valU, Sympl partner for short-term BNPL plans
Egyptian buy now pay later (BNPL) firm valU said Thursday that it has partnered with fintech firm Sympl to allow the its clients to...
Egypt inks $1.5 billion financing agreement with ITFC
Egypt has signed a $1.5 billion financing agreement with the International Islamic Trade Finance Corporation (ITFC) to fund the country’s trading, including imports of...
Egyptian wealth fund partners with Etisalat Egypt to launch Erada Microfinance
The Sovereign Fund of Egypt (TSFE) has joined forces with Etisalat Egypt by e& to launch Erada Microfinance to provide access to a wide...
Egypt gets $925 million from foreign investors after currency devaluation
Egypt received over $925 million in foreign-exchange inflows since 11 January 2023 when the pound plunged by 16% to an all-time low of 32.1...
Eni, Chevron discover ‘significant’ offshore natural gas fields in Egypt
Italian energy giant Eni said Sunday that it had made a new gas discovery in an Egyptian offshore field in the Eastern Mediterranean Sea.
Eni...