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SMEs Authority in talks with Banque Misr for EGP 500 mn for new projects
The SMEs Development Authority is in talks with Banque Misr to receive a EGP 500 mn loan to offer financing…
Banking + Finance
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Egypt’s IDB grants EGP 50 mn to Tamweely for MSMEs
The Industrial Development Bank (IDB) has signed a EGP 50 mn agreement with microfinance company Tamweely to provide financing for…
Careem to set up e-wallets for drives in Egypt
Ride-hailing app Careem is currently in talks with banks and telecom companies to set up e-wallets for its drivers to…
Egypt’s Tamweely to launch microinsurance, financial leasing services
NI Capital’s microfinance arm Tamweely is about to finalize an EGP 100 mn loan agreement with local banks to fund…
Farmer’s syndicate head calls on CBE for bank loan extension
Farmer’s Syndicate head Hussein Abdel Rahman called on the Central Bank of Egypt (CBE) to extend the deadline for its…
Egypt’s iScore to expand into Africa, ME in the next three years
Egyptian creditworthiness bureau iScore is planning to expand its operations into Africa and the Middle East during the next three…
Al Baraka Bank Egypt expects new tax treatment to hit 2019 profits
Al Baraka Bank expects its 2019 profits to decline by 5-7% as a result of proposed amendments to the tax…
Central Bank of Egypt could raise ceiling for mobile lending
The CBE is studying raising the credit ceiling for mobile nano-lending to EGP 1000-1500, up from EGP 500 currently, banking…
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