COMMODITIES-

Gov’t seeks to boost area cultivated with wheat by 25% in 2024: The government aims to increase the amount of land allocated to wheat farming by 25% to 4 mn feddans next harvest season, A sharq Busine ss reports, citing an anonymous government official.

Remember: The amount of wheat the government bought in this year’s harvest reportedly fell by 10% y-o-y to 3.4 mn tons. One government official was quoted as telling local media the drop was partly due to a c. 12% y-o-y fall in the area cultivated with wheat this season, as farmers shifted their focus to growing crops used for livestock feed.

TRANSPORT-

Air Cairo adds new route between Sharm and Madrid: Low-cost air carrier Air Cairo will begin operating weekly flights between Madrid and Sharm El Sheikh starting 29 October, it said in a stateme nt yesterday.

INFRASTRUCTURE-

Airport updates: Civil Aviation Minister Mohamed Abbas Helmy held a presser in Hurghada yesterday to share updates on projects to expand several of the country’s airports and increase tourist numbers. Among the highlights:

  • Quadrupling capacity at Alex airport: The annual capacity of Alexandria’s Borg El Arab airport will rise to 6 mn passengers from 1.5 mn currently when the ministry opens a new terminal next year. (Asharq Business)
  • Flying south: Berenice International Airport is ready to receive international and domestic flights. Berenice, an ancient seaport, is about 140 km south of Marsa Alam. The civilian terminal was built as part of a larger military facility and can handle some 600 passengers per hour. (Al Mal)
  • St. Catherine expansion: The ministry expects to complete the expansion of the St. Catherine International Airport by April 2024. Capacity will rise to 600 passengers an hour from 80 currently after a new terminal is opened and the existing one is expanded. (A l Mal)

Remember: The government is doing all it can to expand the tourism sector and maximize hard-currency revenues as it looks to pull the country out of a currency crisis. Tourism is booming right now: Egypt welcomed a record 7 mn tourists in 1H 2023, up more than 40% on the same period last year, putting it on track to meet its goal of attracting 15 mn people this year.

LOGISTICS-

Moves to unclog truck traffic at the Egypt-Sudan border: The General Authority for Land and Dry Ports has created two mini logistics zones in Wadi Karkar and Abu Simbel to reduce the pile up of trucks and cars at the Arqin and Qastal border crossings between Egypt and Sudan, the Transport Ministry said Thursday. The zones will speed up the provision of key supplies such as water, food, and medical aid to civilians in the conflict-hit country, the statement reads.

NBFS-

Microfinance provider Sandah will offer loans to local MSMEs through online lending marketplace Qardy under a partnership agreement signed by the two firms, according to a joint statement (pdf).

TELECOMS-

Orange x O West: Orange Egypt will provide Orascom Development Egypt’s (ODE) O West project with digital infrastructure and telecom services under a 10-year agreement, according to an ODE statement (pdf) on Sunday. Under the partnership, Orange will build a fiber network to equip O West with high-speed internet.

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