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Tuesday, 26 Aug 2025

What We're Tracking Today
M&a Watch
Diplomacy
Earnings Watch
Moves
Also On Our Radar
Planet Finance
Going Green
Calendar

Madbouly appoints new EGX chairman

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Today at a glance

1

M&A WATCH

Moody’s seeks majority stake in local credit rating agency MERIS.
2

Moves

Islam Abdel Azim Azzam appointed as EGX head with Mohamed Sabry as his deputy.
3

What We're Tracking Today

FinMin to settle EGP 11 bn in overdue payments to pharma companies within days.
4

Diplomacy

Abdelatty takes part in OIC Foreign Ministers meeting on Gaza.
5

Also on our Radar

Egyptian-Turkish consortium to set up two customs bonded yards.
6

EARNINGS WATCH

Macro Group continues to see solid rebound in 1H 2025.
7

PLANET FINANCE

Leading economies must rely more on foreign workers to offset aging populations.
8

Going Green

Why is Egypt lagging behind the region in carbon capture projects?

Tuesday, 26 Aug 2025

What We're Tracking Today
M&a Watch
Diplomacy
Earnings Watch
Moves
Also On Our Radar
Planet Finance
Going Green
Calendar
1

What We're Tracking Today

Egypt to settle EGP 11 bn in overdue payments to pharma companies within days

Good morning, folks and happy hump day to you all. As has been the case every day this week, we have another brisk issue for you this morning, but we don’t expect things to stay quiet with a new EGX head appointed and Emirati President Sheikh Mohamed bin Zayed Al Nahyan in town for a few days.

A new EGX boss? Mabdouly has tapped Islam Abdel Azim Azzam as chairman of the EGX, marking the end of Ahmed El Sheikh’s run as EGX boss. We’ll be keeping an eye out today to see how the market reacts to Azzam’s appointment.

AND SOME GOOD NEWS TO START OFF YOUR DAY- We’re in for a four-day workweek: Prime Minister Moustafa Madbouly announced Thursday, 4 September as a holiday for the public sector in observance of Prophet Muhammad’s birthday. We’ll be on the lookout for similar statements from the Labor Ministry, EGX, and central bank.

In the fourth issue of our Destination Sahel series, we're bringing you the latest updates on New Alamein City and a look at the best investments in Sahel today. We also investigate the growing issue of beach erosion and its impact on our shores.

Look for Destination Sahel, Issue IV, in your inbox this Wednesday, 3 September.

Missed the first three issues? Tap here to read the full series.

PSA-

WEATHER- It’s another sunny day in Cairo, with the capital in for a high of 34°C and a low of 25°C, according to our favorite weather app.

It’s more or less the same in Alexandria, which will be experiencing a high of 32°C and a low of 25°C.

POLL WATCH-

More analysts pencil in a rate cut: The Central Bank of Egypt is widely expected to resume its easing cycle when its Monetary Policy Committee meets on Thursday, with eight economists surveyed by Reuters forecasting a 100 bps cut on the back of cooling inflation.

The rationale: “Inflation has been declining while the EGP is strengthening against the USD, supported by government initiatives to lower commodity prices and the stability of energy prices,” Zilla Capital’s Aya Zoheir told the newswire, adding that expectations of a Fed cut in September also provide space for easing.

That seems to be the consensus: Eleven of the economists and banking experts we spoke to for our customary poll expect a rate cut between 100-300 bps this week.

WATCH THIS SPACE-

The Finance Ministry will settle EGP 11 bn in overdue payments to medical suppliers and pharma companies over the coming couple of days, sources with knowledge of the matter told Al Borsa. The payment will be made through the Unified Procurement Authority, which owes a total of EGP 43 bn to companies. The rest will be paid out in three equal installments over three months, the sources said.

We had an idea this was coming: We previously reported that the UPA had plans to settle some EGP 43 bn in overdue payments to pharma companies during the current fiscal year. This came after medical suppliers called on the government to step in to resolve the unpaid due.

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CIRCLE YOUR CALENDAR-

#1- El Gouna will host the launch of the 2025 Egyptian Entrepreneurial Sector Diagnostic Report between 24-26 September, according to a statement. Organized by Entlaq in partnership with El Gouna, the three-day summit will bring together government officials, investors, development partners, and startup founders to discuss the findings of the report on the country’s entrepreneurial community.

#2- Pharma manufacturing expo Pharmaconex will run between 1-3 September at the Egypt International Exhibition Center, according to a statement (pdf). The event will highlight recent public and private sectors’ efforts to localize drug manufacturing and strengthen supply chains under the National Health Strategy 2024-2030. The exhibition will host over 350 exhibitors from 40 countries, feature 70 conference sessions, and is expected to attract some 13.5k visitors.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

THE BIG STORY ABROAD-

The Federal Reserve is in The Donald’s crosshairs again, this time with the US president firing governor Lisa Cook on claims of mortgage fraud. The legally-dubious move — as presidents can’t fire Fed governors without “cause” — came after days of back-and-forth with Cook, who said earlier Trump’s “bullying” will not force her to resign.

Markets were not happy: The latest threat to the Fed’s independence stoked market fears, sending Wall Street futures into the red following a losing session on Monday.

MEANWHILE- A new coffee giant is coming: US-based Keurig Dr Pepper is taking over JDE Peet for USD 18 bn, in what is set to be the largest M&A transaction in Europe in more than two years. The price is a 20% premium to the Dutch company’s last closing price, with Keurig Dr Pepper aiming to merge with JDE and split coffee operations and other beverage products into two US-listed companies.

CLOSER TO HOME- Two back-to-back Israeli strikes on Nasser Hospital in Southern Gaza killed at least 20 people, including rescue workers and five journalists. Among the killed were Mariam Dagga, a visual journalist for the Associated Press, as well as Reuters contract photographer Hussam al-Masri, Al Jazeera cameraman Mohammed Salama, and freelance reporters Moaz Abu Taha and Ahmed Abu Aziz.

ALSO WORTH READING THIS MORNING-

  • Intel warns: Trump’s recently-acquired stake could harm international sales and future government grants, according to a securities filing. Trump is saying he wants more agreements with “healthy” US companies. (Reuters)
  • Elon Musk is suing Apple and OpenAI, claiming the agreement to integrate ChatGPT in Apple’s product is harmful to competitors like his startup xAI. (Financial Times)

*** 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 why Egypt is lagging behind its regional peers when it comes to carbon capture projects.

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Whether you’re diving into turquoise waters, catching golden hour from your terrace, or just letting time drift by — Somabay is summer, redefined. Your ultimate escape, every single time.

2

M&A WATCH

Moody’s seeks majority stake in Egyptian credit rating agency MERIS

Moody’s vies for control of MERIS: Global credit rating agency Moody’s is looking to raise its minority equity stake in its Cairo-based affiliate Middle East Rating & Investors Service (MERIS), according to a press release. The New York-headquartered firm is teeing up an offer that would give it majority interest in the domestic credit rating agency as it looks to broaden its presence in the region.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

MERIS is currently the only credit agency operating in Egypt. The firm was set up in 2003 as a joint venture between Moody’s and local consultant Finance and Banking Consultants International (FinBi). It issues domestic credit ratings for banks, companies, and structured finance transactions.

What they said: Monica Merli, Moody’s COO, said MERIS has been a key provider of domestic ratings for over two decades and that a larger stake would allow Moody’s to share more of its global best practices. MERIS founder Amr Hassanein said the move would allow the firm to deepen its offerings while maintaining a local focus.

What we know: Following the planned acquisition, MERIS will continue to operate independently with its own management team, rating methodologies, and credit opinions. The terms of the transaction were not disclosed, and it is currently pending regulatory approval.

IN CONTEXT- MERIS’ long run without competition is set to end. In June of last year, the Financial Regulatory Authority gave the greenlight to Beltone Financial and Italy’s CRIF Ratings to set up Egypt’s second credit rating agency.

The FRA has been pushing for more players since 2022, when it scrapped a rule requiring at least 10% foreign ownership of local agencies to encourage new entrants. Regulators argued at the time that MERIS couldn’t handle the market alone.

IN OTHER M&A NEWS-

CIB-led consortium’s bid for a piece of B Healthcare gets the regulatory green light: A consortium led by CIB will snap up a 50% stake in B Investments’ healthcare arm B Healthcare Investments after the Egyptian Competition Authority greenlit the move, according to a statement. It was previously reported that the acquisition will be made via a roughly EGP 500 mn capital increase.

The ownership breakdown: CIB will acquire around 25% of the company, Misr Ins. 10%, Misr Life Ins. 10%, and Al Baraka Bank Egypt 5%. Meanwhile, B Investments Holding will hold 25% of the company following the acquisition, while the Sovereign Fund of Egypt’s healthcare sub-fund and another investor will own the remaining 25%.

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3

Diplomacy

Egyptian Foreign Minister takes part in OIC Foreign Ministers meeting on Gaza

Abdelatty joins his regional peers for OIC meeting on Gaza: Foreign Minister Badr Abdelatty took part in an extraordinary session of the Organization of Islamic Cooperation (OIC) Council of Foreign Ministers in Jeddah, which centered around the latest developments in Gaza. Abdelatty condemned the expansion of Israeli military operations in Gaza, holding the Israeli side accountable for the continuation of the war and responsible for disregarding mediation efforts, according to a statement.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

On the sidelines of the session: Abdelatty held one-on-one meetings with his counterparts from Saudi Arabia, Kuwait, Turkey, Iran, Algeria, and Tunisia on the sidelines of the meeting to discuss bilateral ties and developments in the region.

BRACE FOR MORE NEWS ON THE DIPLOMACY-FRONT after Emirati President Sheikh Mohamed bin Zayed Al Nahyan landed in Egypt yesterday for a “multi-day fraternal visit,” according to an Ittihadeya statement. The president landed in El Alamein International Airport, where he was received by President Abdel Fattah El Sisi.

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4

EARNINGS WATCH

Macro Group continues to see solid rebound in 1H 2025

Macro Group Pharma reported EGP 68.9 mn in net income in 1H 2025, compared to a net loss of EGP 88.8 mn in the same period last year, according to the company’s latest earnings release (pdf). “Growth was driven by higher volumes, the rollout

of our pricing strategy in March, and stronger brand-led marketing, alongside improved inventory management and supply chain efficiency,” Chairman Ahmed Elnayeb said.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

Revenues more than doubled during the first half of the year, growing 165% y-o-y to record EGP 412 mn on the back of a 146% y-o-y rise in sales volumes to 8 mn units and targeted price adjustments. Export revenues also rose sharply to EGP 17.5 mn — representing 4% of total revenue — up from EGP 6.3 mn in 1H24.

Looking ahead: “We remain focused on driving growth, enhancing profitability, and expanding our presence both domestically and internationally. With a strong brand, innovative pipeline, and robust distribution network, Macro is well-positioned to sustain its recovery and deliver long-term value for stakeholders,” Elnayeb said.

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5

Moves

Islam Abdel Azim Azzam appointed as EGX head with Mohamed Sabry as his deputy

A new face at the helm of the EGX: Prime Minister Moustafa Madbouly has appointed Islam Abdel Azim Azzam (LinkedIn) as chairman of the Egyptian Exchange for a one-year term, according to a statement from the bourse. Azzam succeeds Ahmed El Sheikh (LinkedIn), who has served as chairman since 2023. He brings decades of experience to the role, having most recently served as the vice chairman at the Financial Regulatory Authority (FRA). He is also an Associate Professor of Finance at the American University in Cairo, and has previously headed the university’s Department of Graduate Studies in Finance. He also spent some time at a number of local and international institutions, including London School of Economics.

Second in command: Madbouly also appointed Mohamed Sabry (LinkedIn) as deputy chairman of the EGX succeeding Heba El Serafi (LinkedIn), according to a separate statement. An EGX veteran, Sabry first joined the bourse in 2010 and was its acting head of market surveillance until 2022. Sabry enters the role following a stint as the assistant chairman of capital market affairs at the FRA.

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6

Also on our Radar

Egyptian-Turkish consortium to set up two customs bonded yards

LOGISTICS-

The Suez Canal Economic Zone inked agreements for a new logistics project with an Egyptian-Turkish consortium that included the state-owned Arab Organization for Industrialization, United Egy Group Shipping, as well as Turkish firms Sigma Logistics and Containers, and Logi Trade Company, according to a statement from the authority.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

The new project will be known as Sigma Egypt and will be developed with investments of USD 4.2 mn. The project will develop two separate customs bonded yards for container storage, handling, and repair in West Qantara and Ain Sokhna. The two 50k sqm yards will be fully self-financed and create 100 direct jobs.

CAPITAL MARKETS-

Two new players to the local PE scene? A consortium of Gulf investors and international banks plans to launch two green economy-focused private equity funds in Egypt with investments of up to USD 150 mn, Al Borsa reports. The first USD 50 mn fund will focus on export-bound agriculture and textile manufacturing, desalination, and agriculture waste recycling. It is expected to launch early next year. As for the second fund, it targets USD 100 mn in investments and will focus on solar power plants. It is set to launch by 2027.

STARTUP WATCH-

Property developer Redcon Properties partnered with the Cairochapterof the Entrepreneurs’ Organization (EO) to roll out the EO Accelerator Program in Egypt, according to a statement(pdf). The program targets growth-stage startups and SMEs with annual revenues between USD 300k and USD 1 mn, offering support to help them scale up sustainably.

What they said: “We are thrilled to announce the launch of EO Cairo Accelerator, where we bring together the power of the global EO and the transformative Accelerator Program to empower Egypt’s vibrant entrepreneurial ecosystem,” said EO Cairo President Ahmed Samy.

EDUCATION-

CIRA Education and Al Ahly Capital Holding’s Saxony Egypt University will prepare Egyptian graduates for the German labor market under a cooperation agreement inked with the cabinet’s Education Development Fund, the fund said in a statement. The program will offer advanced training, German language qualifications, and internationally-recognized accreditations, with the fund managing logistics and funding support.

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7

PLANET FINANCE

Leading economies must rely more on foreign workers to offset aging populations, top central bankers warn

A shrinking working-age population across the developed world is putting long-term economic growth and price stability at risk, top central bankers warned at the Jackson Hole symposium last week, the Financial Times reports. The heads of the Bank of Japan, the European Central Bank, and the Bank of England each flagged labor shortages driven by aging societies as a structural challenge that will worsen in the coming decades.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

But there’s an obvious, albeit unpopular in the current political climate, fix — foreign workers. With birth rates at historic lows and people living longer across developed nations, countries have ballooning financial responsibilities to support growing retired populations and a shrinking workforce to help fund them. The entrance of more foreign workers would serve a “crucial role” in addressing this, European Central Bank President Christine Lagarde argued.

Lagarde also attributed the Eurozone’s “unexpectedly” strong recovery from the pandemic to a rise in foreign workers, who accounted for more than half of labor force growth since 2022, despite only representing 9% of it. Looking ahead, Lagarde warned that without an uptick in foreign workers, the Eurozone could see 3.4 mn fewer working-age people by 2040, which would have serious knock-on effects for both labor market conditions and output.

The impact on Japan — famous for its shrinking population — from foreign workers has been even greater, with the country’s tiny foreign worker population — accounting for only 3% of the total labor force — being responsible for half of recent labor force growth, Bank of Japan Governor Kazuo Ueda also said at the summit. Nonetheless, despite the clear economic benefit — and maybe necessity — the proposal is still a mostly unpopular one for the voting public, much like in the EU.

Bank of England Governor Andrew Bailey argued that the demographic issue facing the UK and others has not been given the importance it deserves. The UK could see 40% of its population above the age of 64 by 2040, which will come coupled with a fall in labor participation rates, he explained. But while there’s a growing agreement from the top central bankers, political sentiment in the world’s most developed nations is yet to shift, with anti-migrant rhetoric becoming an increasingly common part of electioneering by parties of all stripes.

MARKETS THIS MORNING-

Asian markets are in the red in early trading this morning, led by Japan’s Nikkei inching down 1.0%. The Kospi (0.8%), Hang Seng (0.2%), and Shanghai Composite (0.2%) are also in the red.

EGX30

35,811

0.0% (YTD: +20.4%)

USD (CBE)

Buy 48.44

Sell 48.57

USD (CIB)

Buy 48.45

Sell 48.55

Interest rates (CBE)

24.00% deposit

25.00% lending

Tadawul

10,898

-0.1% (YTD: -9.5%)

ADX

10,207

0.0% (YTD: +8.4%)

DFM

6,135

+0.2% (YTD: +18.9%)

S&P 500

6,439

-0.4% (YTD: +9.5%)

FTSE 100

9,321

+0.1% (YTD: +14.1%)

Euro Stoxx 50

5,444

-0.8% (YTD: +11.2%)

Brent crude

USD 68.52

-0.4%

Natural gas (Nymex)

USD 2.69

-0.4%

Gold

USD 3,428

+0.3%

BTC

USD 109,623

-2.5% (YTD: +17.2%)

S&P Egypt Sovereign Bond Index

899.17

+0.1% (YTD: +15.6%)

S&P MENA Bond & Sukuk

148.48

+0.3% (YTD: +6.1%)

VIX (Volatility Index)

14.79

+4.0% (YTD: -14.8%)

THE CLOSING BELL-

The EGX30 remained flat at yesterday’s close on turnover of EGP 4.1 bn (22.6% below the 90-day average). Regional investors were the sole net sellers. The index is up 20.4% YTD.

In the green: Rameda (+3.4%), Qalaa Holdings (+1.5%), and Arabian Cement (+0.9%).

In the red: Misr Cement (-1.4%), Raya Holding (-1.3%), and Eastern Company (-0.9%).

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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
8

Going Green

Why is Egypt lagging behind the region in carbon capture projects?

Egypt has expressed interest in carbon capture and storage (CCS), yet progress on the ground remains modest. Unlike some peer nations in the GCC that have launched large-scale CCS projects, our efforts are still largely in the feasibility and pilot stage.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

CCS? The CCS market covers technologies that trap CO2 from industrial processes or directly from the air and store it to prevent emissions. Capture methods include pre-combustion (removing CO2 before burning fossil fuels), post-combustion (capturing CO2 from flue gases), and direct air capture, or DAC (extracting CO2 directly from the atmosphere).

The main issue for Egypt and others continues to be cost, as the needed infrastructure and technology for CCS is both complex and expensive — often in the bns. The largest proposed project by price tag is the Pathways Alliance project in Canada, whose CSS network in Alberta would cost around USD 12 bn.

But the costs aren’t just upfront, as you also have to account for operating costs that push the cost for capturing each ton of carbon to between USD 15-120, depending on the CO2 source, according to the International Energy Agency. To make the economics more attractive, there’s also CCUS — or carbon capture, usage, and storage — which gives the captured carbon commercial use by reusing it, though uses like enhanced oil recovery are criticized as harmful to climate goals.

It’s little surprise that our wealthier Gulf neighbors have made more progress with CSS. While Egypt’s CSS achievements are limited to a few small-scale and pilot projects, alongside MoUs to develop the technology, the UAE hosts the Middle East’s first commercial-scale CCUS facility, Al Reyadah, which began operations in 2016. Alongside this project — which captures around 800k tns of CO2 annually from Emirates Steel’s Abu Dhabi plant and pipes it to Adnoc fields for enhanced oil recovery — Adnoc and other local players are also bullish on CCUS projects. Saudi Arabia can also boast operational projects and has plenty in the pipeline, including a USD 1.5 bn carbon capture and storage hub in Jubail, which is planned to store up to 9 mn tons of CO2 a year by 2027 or 2028.

REMEMBER- Egypt’s first CCS initiative was announced in 2022 by the Oil Ministry and Italian energy giant Eni, targeting storage of up to 30k tons of CO2 annually at the Meleiha field. The USD 25 mn project was part of a broader package of Eni-led schemes to use captured CO2, operating in three phases. Also in 2022, Toyota Tsusho presented a feasibility study on applying carbon capture tech at Abu Qir Fertilizers and Misr Fertilizers and Production Company (Mopco).

While there’s little happening on the CSS front at home, Egyptian players are active in the sector abroad, including a USD 2.6 bn expansion by Orascom Construction and Spain’s Tecnicas Reunidas of a power plant in Saudi Arabia that includes carbon capture.

Clarity on the role the technology should play in the country’s wider development plan is also lacking, with the National Climate Change Strategy 2050 only making one direct reference to CSS.

Egypt also lacks a clear legal framework for CCS, with no laws, protocols, or guidelines in place to directly govern project implementation or operations, according to a study (pdf) from the Oil and Gas Climate Initiative. A key regulatory uncertainty is how CO2 will be classified — as waste or as a resource — which will shape how CCS is treated under existing frameworks. The current regulatory environment remains incomplete and uncertain for CCS-specific activities, which isn’t a winning recipe for attracting investment.

Other countries have leaned on incentives to help spur the sector, with tax credits, soft loans, and grants used in the US, Canada, and the EU to encourage investment, the report highlighted. While CCS projects in Egypt are yet to get the same treatment, some effort has been made with CSS projects explicitly listed as able to receive a golden license, providing a simplified one-time approval to streamline the process of obtaining land, permits, and everything in between.

But on the plus side, there has been some movement on the capture front recently, with Mopco tapping Germany’s ThyssenKrupp in February to deploy advanced carbon capture and usage tech across its three ammonia and urea plants in Damietta, with a USD 220 mn investment. The project will strip up to 145k tons of CO2 annually from flue gas and channel it into urea production. We also found out in May that Canada-based clean tech firm Borna is also planning to invest USD 40 mn to set up a facility focused on manufacturing flare gas recovery systems, carbon separation technologies, and reinjection solutions for the Egyptian natural gas network.

The sector has also been featured recently in bilateral talks with our Mediterranean neighbour Greece, which saw the Oil Ministry sign an MoU with Greece’s Environment and Energy Ministry to collaborate on CCUS. The pair agreed to work on proposals for a carbon capture and storage regulatory framework with support from Greece’s industry knowledge and develop models for its possible application within the economy, with hopes of exporting CO2 to European markets for industrial use.

Your top green economy stories for the week:

  • Egyptian-Japanese cooperation in green hydrogen? The Suez Canal Economic Zone inked an MoU with the Tokyo Metropolitan Government to work together on the environmental and economic aspects of green hydrogen “through the exchange of relevant expertise, knowledge, and information, stimulating market demand and supporting its various applications.”
  • Are we witnessing the death of the green hydrogen industry? Global demand for green hydrogen has been lagging far behind expectations, leaving projects without buyers, Emirati state-run renewables giant Masdar CEO Mohamed Jameel Al Ramahi said, explaining why the company will be shifting its focus away from green hydrogen and toward powering AI.
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CALENDAR

AUGUST

28 August (Thursday): Monetary Policy Committee meeting.

Mid-August: Launch of electronic platform to register Old Rent Law tenants.

Tourism Development Authority to waive late payment penalties for land purchases if full installments are paid

Late-August: Deadline for cement factories to restart production.

SEPTEMBER

1 September (Monday): New Labor Law comes into effect

1-3 September (Monday-Wednesday): Pharmaconex Exhibition, Egypt International Exhibition Center.

8-11 September (Monday-Thursday): EFG Hermes London Conference takes place in the British capital.

9-11 September (Tuesday-Thursday): The International Exhibition for Paper, Corrugated Board, Paperboard and Tissue Paper Industries — PAPER-ME — takes place at the Egypt International Exhibition Center.

15 September (Monday): IMF to hold its combined fifth and sixth reviews of Egypt’s USD 8 bn EFF arrangement.

24-27 September (Wednesday-Saturday): Cityscape Egypt 2025, Egypt International Exhibition Center.

30 September (Tuesday): The Egypt-South Korea Economic Cooperation and Partnership Forum.

The Egyptian-Moroccan Business Council to send a delegation of 23 local companies to Rabat.

The Engineering Export Council of Egypt will ship a commercial delegation to Russia to ramp up exports to European markets.

Egypt Education Platform (EEP) to launch two new schools in Alexandria and Somabay.

Egypt Otsuka’s nutritional products factory in Tenth of Ramadan to begin operations, with exports to Gulf countries expected by January 2026.

OCTOBER

1 October (Wednesday): Applications for alternative housing for old rent tenants will open through an online platform or at post offices nationwide.

2 October (Thursday): Monetary Policy Committee’s sixth meeting.

7 October (Tuesday): The 2025 EnterpriseAM Egypt Forum.

7-8 October (Tuesday-Wednesday): HACE-Hotel Expo, Egypt International Exhibitions Center.

7-9 October (Tuesday-Thursday): EgyMedica Exhibition, Cairo International Convention Center.

12-16 October (Sunday-Thursday): Cairo Water Week, Cairo.

19-20 October (Sunday-Monday): Egypt to host the fifth edition of the Aswan Forum.

19-22 October (Sunday-Wednesday): Arab African Investment and International Cooperation Summit.

23-25 October (Thursday-Saturday): Stone Africa Expo, Cairo International Conference Center.

October: The third iteration of the Export Smart Exhibition and Conference.

Mid-October: Capmas to publish the findings of its 2023-2024 income and expenditure survey.

NOVEMBER

16-19 November: Cairo ICT 2025, Egypt International Exhibition Center

20 November (Thursday): Monetary Policy Committee meeting.

November: Egypt to join the EU’s Horizon Europe research and innovation program.

DECEMBER

1-4 December: Egypt Defence Expo (EDEX), Egypt International Exhibition Center.

25 December: (Thursday): Monetary Policy Committee meeting.

EVENTS WITH NO SET DATE

Mid-2025: EGX launches sustainability index.

3Q 2025: Nasr Automotive begins locally manufacturing passenger cars.

3Q 2025: Polaris Parks to finalize contracts for two new industrial zones in the new capital and Sadat City.

Mid-2025: The Administrative Capital for Urban Developments to roll out the second phase of offering industrial plots to investors

2H 2025: Potential visit by Chinese President Xi Jinping to Egypt

4Q 2025: The beginning of construction works on China’s State Grid two solar projects.

4Q 2025: GB Auto starts assembling one of China’s Great Wall Motor models in 4Q 2025.

4Q 2025-1Q 2026: Kasrawy Group to launch first Avatr EV models in Egypt.

2025: The InterAcademy Partnership assembly.

2025: Nile Basin States Summit, Cairo, Egypt.

2025: Release of the government’s Startup Charter document.

Before 2025-end: The government will launch two ro-ro shipping lines with Saudi Arabia and Turkey.

2026

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.

1 January: European Union’s Carbon Border Adjustment Mechanism (CBAM) to fully come into effect.

10-12 February (Tuesday-Thursday): Gitex Global’s AI Everything Middle East & Africa Summit

15 March 2026: IMF to hold its seventh review of Egypt’s USD 8 bn EFF arrangement.

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

15 September 2026: IMF to hold its eighth review of Egypt’s USD 8 bn EFF arrangement.

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 for 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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