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Fitch downgrades Egyptian banks’ operating environment score on ties to sovereign debt
Fitch estimates that about 50% of the total assets of Egypt’s banking sector are invested in government debt, creating a…
Fitch cuts bank credit ratings following sovereign downgrade
Fitch, S&P and Moody’s have all downgraded Egypt’s sovereign rating over the past month due to rising debt concerns
United Bank’s United Finance closes EGP 617.5 mn securitization
The issuance was backed by a EGP 933 mn leasing contracts portfolio
Sky, Reliance Logistics in talks with BdC to fund multipurpose terminal at East Port Said port. Plus: Banque Misr land sale
Plus: The Egyptian Holding Company for Silos and Storage wants to borrow EGP 5 bn to fund silo expansion
S&P cuts three local banks credit rating days after downgrading sovereign rating
The rating agency cut Egypt’s sovereign credit rating deeper into junk last week due to the increasing FX shortage and…
Suez Canal transit fee reductions for south west Africa ships. Plus: Banque Misr x Etisalat, NBE x MSMEs, NWFE x Climate Investment Fund, NWFE x French Development Agency
Suez Canal revenues are expected to hit a record USD 10.3 bn by the end of 2023
IDG-led consortium to sign MoU to develop Beni Suef dry port. PLUS: Jumia + Aman, Valu + EBI, Rakta + Al Ahly Pharos, Kima + Tecnimont
The port project could require some USD 500 mn according to a local news outlet
Four banks could receive EBRD loans to fund SMEs, green projects
The financing could be made available before the end of the year, according to a senior figure at the EBRD
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