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Tuesday, 17 Mar 2026

What We’re Tracking Today
The Big Story Today
Automotive
Debt Watch
Banking
Industry
Also On Our Radar
Planet Finance
Going Green
Calendar

Hot money starts flowing back into the country

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Today at a glance

1

Big Story Today

Hot money returns to the primary market as FinMin holds the line on yields.
2

Automotive

Industry Ministry pushes for 100k vehicles a year and 60% local content in an auto industry reboot.
3

DEBT WATCH

Citizen Bonds return after EGP 5 bn debut.
4

Banking

Fitch Ratings says Egyptian banks are well armed to weather Iran conflict fallout.
5

Industry

Gov’t slashes factory pre-lease wait to one year in bid to revive idle production lines.
6

WHAT WE’RE TRACKING TODAY

Abdelatty wraps Gulf diplomatic wartime push in KSA.
7

Also on our Radar

Qualiphi acquires Career First to build region’s first Arabic-first career services management ecosystem.
8

PLANET FINANCE

It looks like retail money is pulling out of private credit.
9

Going Green

Say goodbye to single-use plastics.

Tuesday, 17 Mar 2026

What We’re Tracking Today
The Big Story Today
Automotive
Debt Watch
Banking
Industry
Also On Our Radar
Planet Finance
Going Green
Calendar
1

WHAT WE’RE TRACKING TODAY

Could we be in for a helping hand from the EBRD?

Good morning, all. We’re two days away from the long-awaited Eid break, but the end-of-Ramadan news slowdown is nowhere to be found as we continue to cope with the fallout of the regional war.

In today’s issue: Hot money is slowly making its way back to Egypt after a heavy sell-off triggered by the war, helping the EGP find its footing. We also look at what’s being done to keep our automotive localization push on track — the government is changing up the auto localization program, setting more realistic targets, and promising more attractive perks.

***

WISH THIS MORNING’S ISSUE was a podcast? We’ve got you. Tap or click here to listen to Morning Drive, a 10-minute version of today’s issue crafted for you to enjoy with your morning coffee, while getting the kids ready for school, or while stomping around the house wondering where the [redacted] you left your [redacted] reading glasses.***

Watch this space

FINANCE — The European Bank for Reconstruction and Development (EBRD) is gearing up to throw a financial lifeline to Egypt and other emerging markets as the ongoing regional war enters its third week and sends global markets into a tailspin. EBRD President Odile Renaud-Basso told Reuters that the bank is eyeing emergency support to help the private sector survive massive shocks to the energy, food, and financial systems.

Why Egypt is particularly vulnerable: This crisis is an unbudgeted inflationary nightmare for our government, as it is being squeezed on all sides: Israel has cut natural gas supplies, while Suez Canal revenues are tanking due to diverted shipping traffic avoiding the region. Renaud-Basso flagged three specific risks for Egypt as this war drags on:

  • A hit to remittances from Egyptian expats working in the Gulf;
  • Soaring funding costs driven by rising US Treasury yields rising, making Egypt’s already heavy debt burden even harder to service;
  • An FDI freeze as spooked investors dump emerging markets for safe-haven assets, which threatens to delay or cancel local projects.

Where the support will go: Renaud-Basso signaled that the bank’s intervention would focus on helping local companies afford soaring energy bills — with oil now trading above USD 100 a barrel — and secure fertilizer supplies amid supply chain chaos. The bank is also looking to throw a life preserver to Egypt’s tourism sector, which is suffering as flights reroute away from the regional conflict zone.

Why it matters: The EBRD is a primary partner for Egypt’s private sector, and its willingness to step in immediately highlights that international lenders are shifting into crisis mode to prevent a broader economic collapse. Looking ahead, Renaud-Basso notes this crisis will likely trigger a massive surge in investments toward energy security and renewables — a shift EBRD is already financing in Egypt through recent green funding deals for local players like Ibnsina Pharma and transport provider GoBus.

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** DID YOU KNOW that we cover Saudi Arabia, the UAE, and the MENA-IndiaCorridor?

Happening today

Foreign Minister Badr Abdelatty is in Riyadh for day three of his Gulf tour to “affirm Egypt’s full solidarity with the sisterly Kingdom of Saudi Arabia,” according to a statement from the ministry. Saudi Arabia will be Abdelatty’s fifth and final stop of the trip, having held high-level talks with officials in Jordan, Oman, the UAE, and Qatar.

On day two of the minister’s trip to the region, Abdelatty met with Omani Sultan Haitham bin Tariq in Muscat to offer support “in the face of security challenges and unacceptable and unjustified attacks,” the ministry said in a separate statement. He also met his Omani counterpart, where the two “agreed on the critical importance of halting the escalation, working to stop the war, promoting political and diplomatic solutions, exercising reason and dialogue, and sparing the region the horrors of sliding into total chaos,” according to another statement.

Abdelatty also touched down in Amman, where he discussed with his Jordanian counterpart how “the focus on the war in the region and its repercussions should not lead to neglecting the humanitarian catastrophe in Gaza.”

Open call

Value Makers Studio is accepting applications for its VMS Accelerate program until 31 March — a three-month accelerator program for Egyptian startups looking to scale and expand into Saudi Arabia, the Saudi venture studio said in a statement. Value Makers Studio plans to invest in seven startups for its first Cairo cohort, targeting seed and seed+ stage companies with investments up to EGP 1.5 mn in each.

Data point

52 — that’s the number of companies that have received golden licenses so far, according to a statement from the Investment Ministry.

Why this matters: Egypt appears to be using the golden license program to plug structural gaps in its industrial supply chain by targeting priority sectors earmarked for localization. Much of the focus is on the economy’s missing middle — intermediate industrial inputs such as soda ash and silicon, which Egyptian manufacturers in industries like glass, electronics, and automotive components must currently import.

PSA

WEATHER- The weather in Cairo is heating up today, with hazy skies, a high of 25°C, and a low of 15°C, according to our favorite weather app.

It’s also a little warmer in Alexandria, with a high of 24°C and a low of 13°C.

The big story abroad

The war in our region and its ramifications are making headlines once again. US President Donald Trump has announced he will remain in Washington to monitor the evolving war, and asked Beijing to delay his high-stakes sit-down with Chinese President Xi Jinping. Trump told reporters that he requested a roughly one-month postponement of the summit, which was originally scheduled to start in just over two weeks.

Meanwhile, in the world of private capital: Mounting anxiety in the private credit market has pushed individuals to pull out over USD 10 bn from major funds in 1Q 2026 — with even more expected to follow. Among the institutions that have limited withdrawals are Blackrock, Morgan Stanley, JPMorgan Chase, and Blackstone, with many — including Blue Owl and Cliffwater — seeing huge sums being redeemed. In Asia, the panic also seemed palpable, as private bankers fielded urgent calls from wealthy clients asking them to redeem positions.

^^ We have more in this morning’s Planet Finance.

ALSO- The Fed will make its interest rate announcement tomorrow — and Thursday is equally big a day, with the ECB, Bank of England, and Bank of Japan doing the same. Central banks in China, Canada, Australia, Brazil, Sweden, and Switzerland are also meeting this week to set rates.

*** It’s Going Green day — your weekly briefing of all things green in Egypt: EnterpriseAM’s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.

In today’s issue: We take a look at how the Environment Ministry is readying new measures to get rid of single-use plastics, with new specification benchmarks to reach and incentives to encourage manufacturers.

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Art. Sound. Movement.

This month, Somabay welcomes NoArt for a night where sound, art, and energy converge by the Red Sea.

With a global lineup featuring ANOTR, Bella, Chloé Caillet, Chris Stussy, Job Jobse, Palms Trax, and Misty, the Bay transforms into an open-air stage where music moves freely from sunset into the night.

A gathering of sound, movement, and creative expression set against one of the Red Sea’s most extraordinary landscapes.

22 March 2026 — Somabay Egypt

2

The Big Story Today

Hot money returns to the primary market as FinMin holds the line on yields

Foreign investors halted the retreat from Egypt’s debt market this week, helping the Finance Ministry cover its funding needs without incurring prohibitive borrowing costs, a government official tells EnterpriseAM. The shift marks a pivot from the heavy sell-offs seen over the last fortnight.

By the numbers: Foreign outflows in the secondary market slowed to just USD 11.4 mn on Monday and clocked in USD 53 mn the previous day — a stark contrast with the USD 6.7 bn of total exits since late February when the war began.

Why this matters: The renewed inflow of hot money and the slowdown in foreign exits provided immediate relief for the local currency. The EGP strengthened during Monday’s session, with the USD trading at EGP 52.32 (buy) and EGP 52.42 (sell) at the National Bank of Egypt by the time banks closed yesterday.

The Finance Ministry continues to play hardball with investors demanding high risk premiums. In yesterday’s 91-day T-bill auction, the ministry received 2.2k bids totaling EGP 84 bn — more than triple the EGP 25 bn target. Despite some investors demanding yields as high as 30%, the ministry accepted bids at a weighted average of 24.38%. “This refusal to accept elevated rates has helped prevent a spike in debt service burdens,” our source notes.

Total debt issuance needs for March have reached EGP 1.1 tn. To manage this heavy load, the ministry is carefully timing its issuances to ensure they do not overlap in a way that creates a maturity wall and pressures the budget during repayment periods.

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3

Automotive

Fixing the flaws in Egypt’s auto localization program

The Industry Ministry is rolling out a revamped, more realistic playbook to get local auto manufacturing back in the fast lane, targeting 100k vehicles annually with 60% local content, a government official tells EnterpriseAM. In addition to a focus on passenger vehicles, this package of incentives will also cover buses and mass transit vehicles. While the government is promising a lucrative revamp, the exact details of what these new incentives will look like remain under wraps.

Why it matters: With this updated strategy, the country is pitching itself as a safe harbor and the go-to alternative manufacturing hub for Asian automakers — specifically from China, India, and Japan — who are looking to secure their reach into the EMEA markets while global supply chains remain a mess, we’re told.

What went wrong in the past: The original Automotive Industry Development Program (AIDP) asked for way too much, way too fast. It demanded companies pump out 10k vehicles a year (with a minimum of 5k) with a 35% local content ratio, which could only be met by the largest of automakers and didn’t make financial sense for many given weak domestic purchasing power and a small auto feeder industry, sources in the industry tell us.

While we wait for the exact breakdown of the new AIDP, the government is promising a highly lucrative suite of perks, including performance-based bonuses, extended support for EVs, and special rewards for global companies that bring their advanced tech into the Egyptian market. It is also throwing in extra financial bonuses for producing at a massive volume.

The new framework will actively take into account progress in the component industry by offering direct advantages to producers of glass, upholstery, sheet metal, and other vital automotive inputs.

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4

DEBT WATCH

Citizen Bonds return after EGP 5 bn debut

The Finance Ministry will open subscriptions for a new tranche of its recently launched Citizen Bonds next week, with the issuance scheduled for 15 April, Finance Ministry Debt Advisor Mae Adel tells EnterpriseAM. The move follows what Adel described as the “great success” of the first offering, which drew more than EGP 5 bn in subscriptions.

The pricing question: “The yield for the new tranche is still being studied in light of current market conditions and interest rate levels,” Adel said, noting that the ministry is working to set a ceiling that balances retail investor demand with prevailing yields on T-bills and T-bonds in the primary market. “Each tranche of the Citizen Bond will have a yield aligned with market interest rates,” she told us previously.

Meanwhile, it appears that the new public debt strategy is now in full swing, with Adel telling us that the strategy is currently being implemented through efforts to lengthen the maturity profile of public debt. “Long-term bonds now account for 15% of total issuances, up from just 1% in 2023, which means that the volume of debt amortizations or maturities over a short period is declining.” Adel noted that this reflects greater debt stability and the beginning of a downward trend.

Another sign of implementation is the introduction of new tools: Adel said 11-month treasury bills were issued for the first time this month and have seen strong demand, while the number of three-month issuances has been reduced to lower short-term budget pressure. The 11-month bills on Sunday attracted EGP 68 bn in bids against a target of EGP 25 bn. This high demand helped push yields down from a peak of 29% to a weighted average of 23.4%.

On the external front, the government is successfully reducing its Eurobond footprint, with Adel noting that the volume of Eurobonds repaid has exceeded new issuances over the current fiscal year — a trend set to continue under the new debt strategy. She noted that investment inflows from Alam Al Roum and two tranches from the IMF supported this approach, allowing for the repayment of USD 2.3 bn in obligations during February without any new issuances so far.

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5

Banking

No 2022 redux for Egypt’s banking sector

Egypt’s banking sector is well positioned to weather the economic fallout from the ongoing Iran conflict, with strong capital, profitability, and foreign-currency liquidity buffers helping shield banks from potential shocks, according to a recent Fitch Ratings report. The rating agency notes that banks are entering the current crisis in a significantly stronger position than they were during the early stages of the Russian invasion of Ukraine in 2022.

Egyptian banks’ credit ratings remain closely linked to the sovereign rating, which currently sits at B with stable outlook, according to the report. The agency expects exposure to the Iran conflict to remain largely indirect, but warns that vulnerabilities persist through higher energy import costs, remittance risks, exchange rate pressures, and access to external financing.

The rise in Egyptian banks’ net foreign assets should provide a significant cushion against capital outflows, standing at about USD 14.5 bn by the end of January and marking the highest level since 2012. Fitch also points to the sector’s “manageable” reliance on foreign funding, which accounted for less than 10% of total funding as of August 2025, in addition to most of its funding being secured at medium-to-long maturities, which “limits near-term refinancing risk.”

Why this matters: Unlike in 2022, when the economic shock of Russia’s invasion of Ukraine depleted reserves and paralyzed imports, the country’s USD 14.5 bn net foreign asset position means that even when regional tensions trigger temporary capital outflows, banks still have the liquidity to maintain trade finance and currency stability without the immediate intervention of the state.

But the high share of foreign-currency loans means capital ratios remain sensitive to exchange-rate swings, with around 33% of bank lending denominated in foreign currency. Based on previous experience, Fitch sees a 10% move against the USD resulting in a 30-50 bp change in the sector’s capital buffers.

And banking profitability will likely moderate following interest rate cuts in 2025, but “higher oil prices will put upward near-term pressure on price inflation and may slow Egypt’s monetary easing,” potentially preserving margins for longer, according to the rating agency. Fitch expects return on equity to remain above 20%, supporting continued internal capital generation.

But it all depends on how long the war will last, with Fitch’s base-case assumption — a conflict lasting less than a month and Brent crude averaging USD 70 / bbl in 2026 — forecasting risks to Egypt’s sovereign and banking sector ratings as remaining contained. However, a longer conflict or a sharper rise in oil prices could intensify economic pressures, the agency warns.

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6

Industry

A shorter leash for industrial leases

Will shorter pre-lease periods help revive inactive production lines? The Industry Ministry shortened the mandatory pre-lease operating period for factories to just one year — down from three — calculated from the start of operations, it said in a statement. The reduction is contingent upon 100% completion of the building, a demonstrated track record of project seriousness, and the full settlement of the land price.

The decision addresses a mounting crisis, with the Sixth October Investors Association estimating that at least 10% of factories in the area are shuttered, the group’s President Mohamed Khamis Shaaban tells EnterpriseAM. Reasons range from owner insolvency to the lack of interest from heirs.

Why this matters: In theory, this decision paves the way for these assets to re-enter the production cycle via new tenants, providing a safe exit for distressed assets while offering a low-cost advantage for SMEs — those that cannot afford the overheads of new construction, Shaaban says.

Some industrial developers argue that the real bottleneck isn’t the duration, but the operating license requirement itself. An investor who can't get their plant running won’t benefit from a shorter timeline if they lack an operating license to begin with, Polaris Parks General Manager Bassel Shoirah tells us. This precondition has cost Egypt hundreds of projects, driving Turkish and Chinese investors toward other markets offering turnkey factories, Shoirah says.

Shaaban also argues that challenges lie in the discretionary power of local authorities, whose flexible interpretations of what constitutes an operating factory could stall progress.

Companies looking to sell their factories outright will still have to wait three years. The Industry Ministry remains wary of the risk of disguised sales — a practice where companies acquire industrial land at subsidized rates with the goal of flipping the land for a bigger return rather than manufacturing.

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7

Also on our Radar

Qualiphi acquires Career Club to support expansion plans

Qualiphi acquires Career Club to build the region’s Arabic-first career platform

Career services platform Qualiphi acquired Career Club from iCareer in a six-figure transaction to build the region’s first Arabic-first career services management ecosystem. This localized approach allows for deep customization to tackle regional hurdles, such as language barriers and a lack of soft skills, Co-founder and CEO Nevien Magdy tells EnterpriseAM.

The talent gap: The root issue isn’t just missing talent, but a lack of student “awareness of themselves, the job market, and companies”, Magdy points out. To bridge the gap, Qualiphi takes students on a “complete journey” — starting with self-assessments, moving through tailored courses and CV coaching, and concluding with employment. Employers also actively shape this pipeline by offering courses directly on the platform and hiring the top performers.

Expansion plans: Qualiphi already serves 500k students in Egypt and 7k in the Gulf across 40 public universities. This year, Qualiphi plans to onboard 15 new Egyptian universities and expand into two new Gulf countries, Magdy said. To help prepare the region’s massive workforce influx — including the 743k Egyptian graduates who entered the market in 2024 — Qualiphi is rolling out AI tools, including virtual interviews.

Hassan Allam’s SPAC is now Grova Venture Capital

Hassan Allam’s SPAC is changing its name: Hassan Allam Investments & Venture Capital — our friends at Hassan Allam Holding’s SPAC — has changed its name to Grova Venture Capital, after its extraordinary general assembly greenlit the move, according to a disclosure (pdf) to EGX.

… and raising its capital: The vehicle is raising its authorized capital to EGP 500 mn from EGP 50 mn and its issued capital to EGP 100 mn from EGP 10 mn by issuing 90 mn shares at a nominal value of EGP 1 a pop, it said in a separate disclosure (pdf). The funds will be used to partially fund acquisitions or inject capital into acquired companies, the disclosure says.

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8

PLANET FINANCE

Why retail money is pulling out of private credit

Planet Finance is flip-flopping between the fallout of the war on markets and the crisis slowly spreading through the private credit sector. Signs of trouble in Private Credit Land have been piling up for a while now, and the latest worrying statistic? Wealthy investors have sought to pull more than USD 10 bn from some of the largest semi-liquid credit funds in 1Q 2026, the Financial Times reports.

This has prompted private credit managers to cap withdrawals: Funds run by Blackstone, BlackRock, Morgan Stanley, and others agreed to meet only about 70% of the USD 10.1 bn in redemption requests so far, according to the salmon-colored paper’s calculations. Further withdrawal tallies are expected from the likes of Apollo Global, Ares Management, and Goldman Sachs in the coming weeks.

By the numbers: Retail private-credit assets swelled to USD 222 bn by the end of 2025 — up from just USD 34 bn at end-2021 — after nearly USD 200 bn in inflows over that period. Now, Goldman Sachs expects the category to shrink by USD 45-70 bn over the next two years.

Why does it matter? Retail money is a big source of fee income. Blackstone’s USD 48 bn BCred fund was its largest fee source last year, generating USD 1.2 bn, while Blue Owl Capital booked USD 447 mn from a comparable vehicle. The funds seeing these requests are also the ones that grew the fastest in recent years.

IN CONTEXT- As we’ve previously noted, private-market executives have been warning of turbulence following the sector’s weakest start to a year in more than a decade — marked by slowing inflows, rising withdrawals, and growing concern that refinancing pressure and AI-linked debt could expose weaker credits.

Public markets are already marking that down: Listed private-capital groups including Blackstone, Blue Owl, Ares, KKR, and Apollo are down 25% or more this year, wiping more than USD 100 bn off combined market value. As Vulcan Value’s CT Fitzpatrick put it, “the air has come out of the balloon.”

It’s also behavioral: Retail investor behavior of “[chasing] performance, then [leaving] the moment they sense danger,” as Morningstar’s Jack Shannon said, is doing little to inspire confidence in the asset class. The trend is also similar to the start of the 2008 financial crisis, former Pimco co-chief exec Mohamed El Erian said.

MARKETS THIS MORNING-

Stocks in Asia are up in early trading this morning with the anticipation surrounding “ a historicweek in the world of monetary policymaking ” driving sentiment. The central banks of the US, Europe, England, and Japan are all set to meet this week and investors are bracing for signs that monetary tightening is on the horizon as the regional war drags on.

EGX30

45,188

-1.6% (YTD: +8.0%)

USD (CBE)

Buy 52.31

Sell 52.45

USD (CIB)

Buy 52.32

Sell 52.42

Interest rates (CBE)

19.00% deposit

20.00% lending

Tadawul

10,946

+0.6% (YTD: +4.3%)

ADX

9,462

-0.2% (YTD: -5.3%)

DFM

5,289

-2.5% (YTD: -12.5%)

S&P 500

6,699

+1.0% (YTD: -2.1%)

FTSE 100

10,318

+0.6% (YTD: +3.9%)

Euro Stoxx 50

5,739

+0.4% (YTD: -0.9%)

Brent crude

USD 100.21

-2.8%

Natural gas (Nymex)

USD 3.03

+0.3%

Gold

USD 5,007

+0.1%

BTC

USD 74,735

+2.8% (YTD: -14.7%)

S&P Egypt Sovereign Bond Index

1,032

+0.1% (YTD: +3.9%)

S&P MENA Bond & Sukuk

150.55

-0.4% (YTD: -0.9%)

VIX (Volatility Index)

23.80

-12.4% (YTD: +52.3%)

THE CLOSING BELL-

The EGX30 fell 1.6% at yesterday’s close on turnover of EGP 4.7 bn (28.6% below the 90-day average). Local investors were the sole net buyers. The index is up 8.0% YTD.

In the green: Orascom Investment (+0.8%), Abu Qir Fertilizers (+0.8%), and Eastern Company (+0.3%).

In the red: Palm Hills Developments (-4.7%), Rameda (-4.0%), and Arabian Cement (-3.8%).

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Our weekly deep dive into the green economy and ESG issue in Egypt.

Published every Tuesday in EnterpriseAM.

Read going Green
9

Going Green

Say goodbye to single-use plastics

The Environment Ministry is readying new measures to change the way we bag up and take home our groceries, which would see plastic bags of at least 50 microns in thickness being classed and enforced as the new environmentally safe standard to meet, Yasser Abdullah, head of the Waste Management Regulatory Authority, tells EnterpriseAM.

When it comes to plastic bags, using more plastic is counterintuitively better for the environment. Cheaper, thinner plastic bags suffer from two key disadvantages, with their weak strength preventing them from being reused and leading them to be of little or even negative value for recyclers because they lack sufficient polymer count to be economically valuable.

Ensuring there’s a financial incentive to pick the bags should prevent them from ending up in the Nile or buried in the bottom of landfills. The No. 3040 standard that defines what specifications a shopping bag must legally have has been around since 2022 — when the Egyptian Organization for Standardization set out its technical definition — but has so far been seen as a benchmark to reach, not an enforced or properly incentivized requirement.

By the numbers: Egypt consumed nearly 5 mn tons of single-use plastic products during the fiscal year 2022-2023. A study (pdf) conducted by the UN Environment Program’s SwitchMed initiative in 2020 found that the country generates 16.2 mn tons of waste annually, with plastic accounting for 6%, or around 970k tons, of which 45% is recycled and 5% is reused.

The supply side will soon be addressed with tax and procedural incentives for plastic bag manufacturers that adhere to the standard, which will also apply to other more environmentally friendly alternatives to plastic bags, Abdullah tells us. The Extended Producer Responsibility framework — a policy that makes producers fully responsible for their products throughout their entire lifecycle — also came into effect on paper in June, which includes a mandatory disposal fee for plastics that enter the market.

The long-term plan: Egypt plans to cut the average annual consumption of plastic bags to 50 per person by 2030, according to targets set in 2022, in line with its national strategy to reduce the negative impact of single-use plastic bag consumption.

Why this matters: In addition to us all wanting to live in a cleaner and healthier environment, the government’s wider push to prioritize making the plastics industry more environmentally friendly is a key way to increase manufacturing value added and improve access to global markets as international regulations tighten, Khaled Abou Makarem, head of the Export Council for Chemical Industries and Fertilizers, tells us.

Plastics are an increasingly important part of the country’s manufacturing footprint, with production volume increasing 16% in 2025, Makarem says. It also plays an important role in many of the country’s priority sectors for localization, with plastics accounting for 20-40% of vehicle components and playing a vital role in electronics and garments.

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CALENDAR

2026

MARCH

19-23 March: (Thursday-Monday): Eid El Fitr public holiday.

30 March - 1 April (Monday-Wednesday): Egypt International Energy Conference and Exhibition (EGYPES).

APRIL

2 April (Thursday): Monetary Policy Committee’s second meeting of 2026.

12 April (Sunday): Coptic Easter.

25 April (Saturday): Sinai Liberation Day.

MAY

1 May (Friday): Labor Day.

21 May (Thursday): Monetary Policy Committee’s third meeting of 2026.

27-29 May (Wednesday-Friday): Eid El Adha (TBC).

JUNE

30 June (Tuesday): National holiday in observance of the June 30 Revolution (TBC).

JULY

9 July (Thursday): Monetary Policy Committee’s fourth meeting of 2026.

23 July (Thursday): National holiday in observance of Revolution Day (TBC).

AUGUST

20 August (Thursday): Monetary Policy Committee’s fifth meeting of 2026.

26 August (Wednesday): National holiday in observance of Prophet Muhammad’s birthday (TBC).

SEPTEMBER

15 September (Tuesday): IMF to hold its eighth review of Egypt’s USD 8 bn EFF arrangement.

24 September (Thursday): Monetary Policy Committee’s sixth meeting of 2026.

27-29 September (Sunday-Tuesday): Global Conference on Population, Health, and Human Development.

OCTOBER

6 October (Tuesday): Armed Forces Day.

29 October (Thursday): Monetary Policy Committee’s seventh meeting of 2026.

DECEMBER

17 December (Thursday): Monetary Policy Committee’s eighth meeting of 2026.

EVENTS WITH NO SET DATE

Early 2026: Passenger operations on the New Administrative Capital-Nasr City monorail scheduled to begin.

1Q 2026: Trial operations for the Ain Sokhna-Sixth of October section of Egypt’s first high-speed rail line scheduled to begin.

May 2026: End of extension for developers on 15% interest rates for land installment payments.

2H 2026: Operations at Deli Glass Co’s new USD 70 mn glassware factory kick off.

2027

20 January-7 February: Egypt to host the African Games.

April 2027: Tenth of Ramadan dry port and logistics hub to begin operations.

EVENTS WITH NO SET DATE

2027: Egypt to host EBRD’s annual meetings.

2027: Egypt-EU Summit 2027.

End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.

September 2028: First unit of the Dabaa nuclear power plant begins operations.

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