Tag: Egypt
China’s Oppo to invest $20 million in mobile phone factory in Egypt
Chinese smartphone maker Oppo said Tuesday that it has signed an MoU with Egypt’s Information Technology Industry Development Agency (ITIDA) to build a mobile...
Banque Misr gets $100 million loan from EBRD to boost green investments in SMEs
The European Bank for Reconstruction and Development (EBRD) has granted a $100 million loan to Banque Misr to lend to small and medium-sized enterprises...
Credit Agricole increases stake in Egyptian subsidiary
Crédit Agricole Group acquired 60 million additional shares in its Egyptian unit Crédit Agricole Egypt, taking shareholding to 52.185% stake from 47.385%.
“This bears witness...
Egypt’s net foreign reserves drop slightly amid IMF talks
Egypt’s net foreign reserves dropped slightly in August, the central bank said Thursday, as the North African country strives to secure International Monetary Fund...
Central Bank of Egypt raises cash withdrawal limits
The Central Bank of Egypt (CBE) raised the maximum amount of cash customers are allowed to withdraw from their bank accounts and scrapped limits...
Anchorage Investments shortlists 4 international contractors for $2 billion petrochemicals project
Egypt’s Anchorage Investments, which develops and operates industrial projects in the petrochemicals sectors, said Tuesday that it has shortlisted four international contractors in the...
EFG Hermes’ BNPL firm valU acquires HR and payroll platform Paynas
Egyptian buy now pay later (BNPL) firm valU said Tuesday that it has acquired Paynas, a full-fledged employee management and benefits company that offers...
Central Bank of Egypt keeps key interest rates unchanged, names acting governor
The Central Bank of Egypt (CBE) kept its interest rates unchanged on Thursday, a day after Governor Tarek Amer stepped down just over a...
Egypt’s Convertedin raises $3 million in seed round, plans expansion
Convertedin, an Egyptian startup that operates a marketing system for e-commerce brands, raised $3 million in a seed round led by Saudi-based Merak Capital...
Saudi wealth fund-backed Egyptian investment firm invests $1.3 billion in four firms
Egypt’s planning ministry said Wednesday that the Saudi Egyptian Investment Company (SEIC), which is owned by the Public Investment Fund (PIF), has acquired minority...