Tag: Egypt
EFG Hermes signs a $39.2 million sale and leaseback deal with Egypt’s Marakez
Egyptian universal bank EFG Hermes said Wednesday that its leasing and factoring arm has signed a $39.2 million (EGP 750 million) sale and leaseback...
UAE’s Chimera Investment acquires a 55.9% stake in Beltone Financial
Abu Dhabi-based Chimera Investment said Tuesday that it has acquired a controlling stake in Egypt’s Beltone Financial Holding as part of the private investment...
Saudi wealth fund PIF launches company for Egypt investments
Saudi Arabia’s Public Investment Fund (PIF) has launched a company that will invest in promising sectors throughout Egypt including financial services, infrastructure as well...
UAE’s ADNOC Distribution to acquire a 50% stake in TotalEnergies Egypt
UAE’s ADNOC Distribution said Thursday that it has agreed to acquire a 50% stake in TotalEnergies Marketing Egypt for approximately $186 million (EGP 3.5...
Egypt needs progress on fiscal and structural reform, says IMF
The International Monetary Fund (IMF) said Tuesday that Egyptian authorities need to make “decisive progress” on fiscal and structural reform as well as foster...
Cartona raises $12 million in series A funding round for further expansion
Egyptian B2B e-commerce startup said Monday that it raised $12 million in a Series A funding round led by Jordan and US-based firm Silicon...
Egypt’s cabinet approves listing of army companies Wataniya and Safi
Egypt’s cabinet approved the pre-listing procedures for military companies, petrol stations operator Wataniya Petroleum and water company National Company for Producing and Bottling Water...
Bahrain’s Arab Financial Services expands business into Egypt
Bahrain-based Arab Financial Services (AFS) said Tuesday that it has expanded its regional footprint with the opening of a new office in Egypt as...
Egyptian property firm MNHD asks SODIC to bump up takeover offer
Egyptian property developer Madinet Nasr for Housing and Development’s (MNHD) board has rejected a takeover bid by its rival Sixth of October for Development...
Telda secures central bank’s approval to start operations
Egypt’s first digital banking application Telda said Monday that it had secured the central bank’s final approval to start operating its card and application...