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Investor Protection Fund coverage to expand to EGP 1 mn
The Egyptian Investor Protection Fund (EIPF) is considering expanding its investment portfolio coverage limit to EGP 1 mn from EGP…
Banking + Finance
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NUCA looks to borrow EGP 10 bn for new city construction and infrastructure
The New Urban Communities Authority is looking to borrow EGP 10 bn to finance construction and infrastructure works in the…
State banks are considering issuing letters of guarantee for Dabaa nuclear project
The Nuclear Power Plant Authority (NPPA) is negotiating with local banks for letters of guarantee worth USD 300-400 mn to…
MIDOR signs USD 1.2 bn loan agreement with three EU banks
State-owned company Middle East Oil Refinery (MIDOR) was meant to have signed yesterday the final contracts for a 10-year USD…
Wasel in talks with Wamda Capital over USD 200k
Mass transit startup Wasel is in talks with the UAE’s Wamda Capital for a USD 200k funding round to finance…
Egypt state companies to settle EGP 80-100 bn in debt owed to NIB
President Abdel Fattah El Sisi and the Madbouly Cabinet approved a plan for state-owned companies to settle EGP 80-100 bn…
Saudi Re wants to grow its Egypt reinsurance business
Saudi Re for Cooperative Reinsurance Company (Saudi Re) wants to grow its Egypt reinsurance business by focusing on major development…
CBE to soon issue guidelines for e-payments firms looking at limited banking services
The CBE will issue in days guidelines for electronic payment companies looking to carry out electronic banking services as part…
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