Tag: Egypt
Egypt’s CIB secures $250 million from International Finance Corporation
The bank secured a 10-year $150 million Tier II facility to support its capital position as well as the expansion of its operations
Continental Investments LMD, Finance House shore up partnership
The fund will furnish superior financing services, enabling Continental Investments LMD to broaden its footprint in the UAE and Dubai markets
Egypt set to invest $1.8 billion in offshore gas exploration
The programme, which is backed by major international companies, aims to drill 35 exploratory gas wells until July 2025
Egypt appoints World Bank’s IFC to help monetise state assets
The IFC will provide Egypt with technical assistance and advisory support to develop a strategy and implementation plan
Visa launches Africa fintech accelerator programme
The launch of the Africa Fintech Accelerator programme follows Visa’s recent pledge to invest $1 billion in Africa’s digital transformation
Cairo to host 3rd Intra-African Trade Fair in November
The decision to change the venue and dates of the continental event followed the announcement from Côte d’Ivoire that it was no longer in a position to host the trade fair
EFG Hermes’s Q1 2023 profit jumps 157% to $28.6 million
The bank said its net profit after tax and minority reached $28.6 million (EGP 885 million) in Q1 2023
Egypt offloads 9.5% stake in Telecom Egypt for $121 million
Egypt is offering a further 0.5% for company employees to buy until May 25
Egypt’s SODIC posts EGP 187 million in Q1 profit
The Egyptian developer’s revenues jumped 26% to EGP 1.50 billion in the quarter from EGP 1.20 billion in Q1 2022
Fitch Ratings downgrades Egypt’s sovereign credit rating
Egypt’s external financing risk has increased given the country’s high external financing requirements