Tag: Egypt
Egypt’s credit score downgraded by Fitch Ratings to ‘B-‘
The ratings agency said it expects Egypt to face a significant rise in external debt maturities in fiscal years ending June 2024 and June 2025
Egypt raises RMB3.5 billion with debut sustainable panda bonds
Egypt will use the proceeds for inclusive growth and green objectives under its sovereign sustainable financing framework.
Banque Misr secures $234 million from IFC to support SMEs
The loan to Banque Misr will catalyse job creation in Egypt through its focus on providing financing to micro and small businesses
Egyptian banks suspend debit card use in foreign currency
Commercial International Bank told accountholders that debit cards could only be used for Egyptian pound transactions within the country.
Visa opens office in Egypt, plans to expand across NALP region
With the new office, Visa aims to strengthen its ongoing talent acquisition strategy by attracting and retaining key talent.
OFID allots $10 million to support food security in Egypt
The facility will assist in the import of vital food and agricultural commodities.
Intesa Sanpaolo mulls taking full ownership of Egypt’s ALEXBANK
ALEXBANK is one of Egypt’s main private sector banks with 175 branches and 1.6 million customers.
ADEX, National Bank of Egypt signs $100 million credit agreement
The financing agreement seeks to bolster economic activities and further enhance the already fertile trade landscape between the UAE and Egypt
Egypt seeks to raise $5 billion from state IPO program by mid-2024
The government announced that it collected $5 billion from offering stakes in 13 companies between March 2022 and July 2023.
Network International invests EGP 1 billion in Egypt
The payments firm plans to use part of the investment to acquire, deploy and maintain around 100,000 POS machines