SPECIAL REPORT Trade Bolstering Egypt’s trade with Africa Egypt's portfolio of multilateral trade deals includes the largest continental free trade agreement in the world. We look at how it can do more business in Africa – a market of 1.5 billion people In association with
Economy Egypt’s headline inflation nearly halves in February Egypt’s annual urban consumer price inflation plunged to 12.8 percent in February from 24 percent in January, decelerating even faster than analysts had expected, official data showed on Monday. The drop was amplified by a statistical base effect, as exceptionally fast price increases of the past two years were no longer reflected in the statistics, […]
Economy Egypt’s net foreign assets jump in January Egypt’s net foreign assets (NFAs) jumped by $2.74 billion in January, boosted by the sale of $2 billion in dollar-denominated bonds, central bank data showed. NFAs climbed to the equivalent of $8.7 billion from $5.96 billion at the end of December, according to Reuters calculations based on the official central bank currency rates. The increase […]
Analysis Markets Egypt’s bourse rally endures despite shaky foundations Cairo’s share index has trebled over the past two years as increasing numbers of Egyptians invest in stocks to preserve their wealth in response to double-digit inflation and a declining national currency. Company valuations remain cheap compared with regional peers, experts say, and so the market rally in Egypt may endure. However, the absence of […]
Opinion Economy Egypt’s economy is bouncing back – for now More fundamental changes are needed for long-term growth
Economy IMF urges Egypt to accelerate sale of state assets The International Monetary Fund has urged Egypt to move faster in selling off state assets to spur growth and reduce debt. The country’s economic growth is forecast to increase from 2.4 percent in fiscal year 2024 to 4.3 percent in fiscal year 2026, according to Jihad Azour, director of the IMF’s Middle East and Central […] April 29, 2025
Construction Egyptian minister touts Ras El Hekma as blueprint for global deals Egypt’s Ras El Hekma deal with the United Arab Emirates shows how creditor and debtor countries around the world can work together for mutual benefit, the Egyptian minister of planning has said. It may also lead to similar agreements with other Gulf nations, according to Rania Al Mashat. “What Ras El Hekma has done is […] April 28, 2025
Retail Gains in Egypt and Turkey help PepsiCo profit Revenue growth at PepsiCo Inc.’s Europe, Middle East and Africa (Emea) division outpaced all its other regional divisions in the first quarter, lifted by stronger demand in Egypt and Turkey. However, the US snacks and drinks company trimmed its full-year profit outlook and warned of rising global trade costs. The maker of Pepsi, Gatorade and […] April 25, 2025
Video length: 3:09 VIDEO EXCLUSIVE Economy Egypt’s prosperity rests on private sector, says billionaire Sawiris Egypt’s second-richest man Naguib Sawiris has predicted a long-awaited turnaround in the country’s private sector. Sawiris told AGBI that it had taken the Egyptian government a long time to acknowledge the importance of the private sector, but that it now knows that the country’s economic future rests on it. “The private sector is the most […] April 25, 2025
Trade Egypt targets 15% trade growth with Tunisia Egypt has set a target to increase trade with Tunisia by 15 percent as it seeks to develop regional economic ties. Trade between the two countries, both of which are subject to reform programmes overseen by the International Monetary Fund, is expected to reach $485 million in 2025 from $421 million in 2024. The plan […] April 21, 2025
Economy Egypt cuts interest rates for first time in 5 years Egypt’s central bank lowered overnight interest rates by 225 basis points (bps) on Thursday, its first cut in more than five years, saying lower inflation had opened the way to yet further rate cuts in the future. The bank lowered the lending rate to 26 percent and the deposit rate to 25 percent. The median forecast in […] April 18, 2025
Finance Remittances to Egypt rise as reforms instill confidence Remittances from Egyptian expatriates rose for 11 consecutive months following the start of economic reforms introduced in March 2024. Overseas Egyptians sent home $20 billion between July and January — the first seven months of the 2024-2025 fiscal year — an increase of 81 percent from $11 billion a year ago, according to the Central […] April 17, 2025
Renewable Energy Egypt’s largest wind farm begins operations ahead of schedule Egypt-listed Orascom Construction has commenced commercial operations at the newly expanded Red Sea wind farm six months ahead of schedule. The largest operational wind farm in Africa is being developed by the Red Sea Wind Energy consortium under a 25-year build-own-operate scheme, the company said in a statement. The alliance comprises France’s Engie (35 percent), Orascom […] April 16, 2025
Economy Qatar to invest over $7bn in Egypt’s economy Qatar has pledged to invest $7.5 billion in Egypt as the North African country seeks to attract new money and boost economic growth, the countries said in a joint statement. The commitment was given during a meeting between Egypt’s President Abdel Fattah El-Sisi and Qatar’s Emir Sheikh Tamim Bin Hamad A-Thani, the state-owned State Information […] April 15, 2025
Real Estate Egypt and Saudi Arabia plan joint real estate fund Saudi Arabia and Egypt are planning to create a joint fund to carry out real estate projects in the two countries, an Egyptian official has revealed. Egypt, which is locked in an IMF-recommended programme to stimulate its economy, also wants Saudi investors for new projects in central Cairo, in line with a plan to be […] April 14, 2025
Manufacturing Egypt’s Hassan Allam to build concrete hub for Ras El Hekma Egypt’s Hassan Allam Holding has said one of its subsidiaries has signed a memorandum of understanding with Abu Dhabi-listed Modon Holding to supply construction materials for the Ras El Hekma megaproject on the Mediterranean. 3S Ready Mix, one of the country’s largest ready mix concrete suppliers, will develop a ready mix factory and a concrete products hub […] April 14, 2025
Infrastructure Egypt hires US company to modernise locomotives Egyptian National Railways has awarded three contracts worth more than $235 million to US company Progress Rail to modernise its rail locomotive fleet. The contracts include the modernisation of 1,000 diesel-electric locomotives valued at $185 million and a 15-year agreement to supply parts for 141 locomotives worth $42 million, the US Embassy in Egypt said […] April 14, 2025
Opinion Oil & Gas Libya courts oil investors but risks loom large The country's long-term stability will ultimately determine investment success April 11, 2025
Economy Egypt raises fuel prices by 15% as it seeks to cut subsidies Egypt increased prices on fuel products on Friday by up to almost 15 percent, state media reported, marking the first increase in 2025. The government is trying to reduce fuel subsidies as required by the International Monetary Fund’s (IMF) $8 billion support package. The increases of between 11.76 percent and 14.81 percent on a wide […] April 11, 2025
Economy Food prices push up Egyptian inflation in March Food prices caused Egyptian inflation to increase in March. Egypt’s annual urban consumer price inflation accelerated to an annualised 13.6 percent in March, 1.5 percentage points higher than February, according to data from Egyptian statistics agency Capmas. The increase was driven by a near 3 percent increase in food prices. Cereals and bread were up […] April 10, 2025
Markets IPOs planned for five Egyptian companies owned by military Egypt has finalised plans to offer stakes in five military-affiliated companies for listing on the local stock exchange in initial public offerings (IPOs). The companies to be listed are the National Company for Producing and Bottling Water (Safi), Wataniya Petroleum, fuel station operator Chillout, food production company Silo Foods and the National Company for Roads […] April 10, 2025
Infrastructure Egypt secures France and EU funds to build infrastructure Egypt has signed agreements with France and the European Union (EU) worth €262 million ($290 million) to support its infrastructure projects. The agreements were signed this week during the visit of French President Emmanuel Macron to Egypt, local media reported. Cairo signed €132 million financing and grant agreements with the EU and the French Development […] April 9, 2025
Oil & Gas Italy’s Eni plans $26bn energy push in North Africa Italian energy group Eni will invest around €24 billion ($26.24 billion) in Algeria, Libya and Egypt over the next four years to help boost energy production, CEO Claudio Descalzi said on Tuesday. The investments would coincide with the Rome government’s efforts to relaunch its economic and political ties with Africa as part of its so-called Mattei […] April 9, 2025
Renewable Energy Egypt and France sign $7bn green hydrogen deal Egypt and France will jointly develop, finance and operate a €7 billion ($7.7 billion) green hydrogen facility at Ras Shokair on Egypt’s Gulf of Suez coast. Egypt’s state-run Red Sea Ports Authority and the New & Renewable Energy Authority will partner with Green Fuel Alliance, which comprises France’s EDF Renewables and Egyptian-Emirati company Zero Waste, […] April 8, 2025
Markets Oil price drop leads Gulf’s government bonds to fall Dollar-denominated sovereign bonds of Middle East and North African countries slid on Monday as President Donald Trump took effective US tariff rates to their highest in more than a century, causing steep declines in global stock markets and a flight to safety in US government debt. Saudi Arabia’s stock index tumbled to a 17-month low […] April 7, 2025
