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Infrastructure 
Elsewedy and Al Kharafi grab electricity transformer station contracts
The government has EGP 7 bn project to establish nine transformer stations in partnership with the private sector
It was expected: Moody’s downgrades credit rating of five local banks
The move follows the agency’s decision to downgrade Egypt’s sovereign credit rating to Caa1 last week
THIS EVENING: Moody’s downgrades five of our banks’ long-term deposit ratings
Good afternoon folks. What started out as a not-so-good news day is looking more and more like a full not-so-good…
Al Ahly Tamkeen Microfinance closes EGP 707 mn bond issuance
The issuance brings the total value of securitized bonds issued in Egypt so far this year to EGP 55.2 bn
EFG Corp-Solutions, Halan and Rawasi all take securitized bonds to market
Companies have sold record volumes of asset-backed securities in 2023
SCZone to borrow EGP 30 bn to fund green hydrogen infrastructure
Part of the loan will be denominated in USD to finance imported components
Egyptian banks could fund new logistics zones at East Port Said port. PLUS: News from Instapay, Banque Misr, the EMX, and the SCZone
The loan could go towards one of the port’s three logistics areas
Abu Dhabi’s export finance agency is funding more Emirati exports to Egypt
The agreement comes less than a month after ADEX agreed to finance Emirati wheat exports to Egypt
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