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CIB opens a commercial representative office in Addis Ababa
CIB has inaugurated a representative office in the Ethiopian capital Addis Ababa as part of its expansion plans in Africa,…
Banking + Finance
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FinMin temporarily suspends EGP 320 electronic tax filing fee
Finance Minister Mohamed Maait has reportedly ordered a temporary halt to the EGP 320 fee imposed on taxpayers filing their…
EGPC borrows USD 430 mn from Credit Agricole
Credit Agricole Egypt has granted the Egyptian General Petroleum Corporation (EGPC) two loans totaling USD 430 mn, according to statements…
Renaissance Capital’s Cape Town investor conference comes to an end
EGX Chairman Mohamed Farid called on investors in South Africa to tap the Egyptian stock exchange. Speaking at Renaissance Capital’s…
South Africa’s Absa mulls expansion into Egypt
South African lender Absa is eyeing Egypt as a market for expansion in the future, Reuters reports. The recently-separated bank…
Banque Misr-led consortium agrees to increase loan for El Canal Sugar
A banking consortium led by Banque Misr has signed contracts to increase its syndicated loan to El Canal Sugar Company…
Sarwa Capital’s Plus Leasing in talks for EGP 600 mn loan
Sarwa Capital subsidiary Plus Leasing has begun talks with CIB, the National Bank of Egypt, and the Arab African International…
Fitch raises credit rating for CIB, NBC
Fitch Ratings has upgraded long-term issuer default ratings for CIB and the National Bank of Egypt to ‘B+’ from ‘B’…
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