Foreign reserves increase to USD 49 bn in July

BANKING-

Foreign reserves rose again to USD 49.0 bn at the end of July, marking a USD 335.8 mn increase from June, according to data (pdf) released by the Central Bank of Egypt. The rise was driven by a USD 53 mn increase in gold reserves and a USD 140 mn jump in foreign currency holdings.

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INVESTMENT-

#1- McDonald's is planning to invest EGP 1 bn in the local market by the end of 2026, Manfoods General Manager Alaa Fathy told Al Mal. These investments include the opening of new branches, the maintenance of existing ones, and the upgrading of technological infrastructure and digital marketing solutions. The company aims to increase the number of its branches from 194 to 280 over the next five years.

REMEMBER- The vast majority of McDonald’s restaurants are franchise locations — and in Egypt, all of its restaurants are owned and run by its local franchise partner Manfoods. The exclusive franchise by Manfoods, a Mansour Group subsidiary, started in 1994 when it opened the fast food chain’s first restaurants in the country.

#2- Supermarket chain Bim is investing EGP 2 bn to open 200 new branches across Egypt this year, Director of Legal affairs and Government Relations Ehab Khalil, told Al Borsa. The expansion would bring its total footprint to 650 locations, up from 450 currently. The company has opened 40 new stores in 1H 2025 at a cost of EGP 400 mn.

INS.-

FRA issues new solvency margin rules for ins. players: The Financial Regulatory Authority (FRA) issued a new solvency margin policy aimed at strengthening the ins. sector and protecting policyholders’ rights at times of risk, according to a statement. The new framework requires ins. firms now to calculate their solvency using two new methods — either calculating 20% of net premiums until the end of the fiscal year ending in December 2027, or based on net claims incurred. The authority will follow whichever result is higher, so that companies are better prepared for unexpected losses.

HEALTHCARE-

The Universal Health Ins. Authority clocked in a financial surplus of EGP 52.1 bn and revenues of EGP 69.0 bn during the fiscal year 2024-2025, according to a statement from the authority. On a y-o-y basis, revenues were up 49%, its surplus was up 43%, and cumulative allocations rose 25% to EGP 10.9 bn.

FINTECH-

Local fintech startup Digified secured its license from the Financial Regulatory Authority to offer AI-driven digital onboarding, eKYC, and e-contracting services for non-banking financial institutions, the startup said in a statement(pdf).