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AI + Innovation (MENA) 
Infrastructure 
Citigroup turns bullish on Egyptian debt
The bulge bracket bank thinks our geopolitical importance and an accelerating privatization program mean it’s time to take a punt…
CBE loosens credit card restrictions for users abroad
The rule change comes following significant volatility in the parallel currency market that saw the EGP fall to a record…
EBRD could invest USD 40 mn in SPE Capital’s new North Africa-focused fund
The USD 350 mn fund will invest in mid-cap companies in Egypt, Morocco, and Tunisia
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
EIPICO wants USD 70 mn to build third factory. PLUS: GYPTO Pharma signs EGP 4 bn worth of agreements with Saudi firm
The two banks in question to provide the funding are Qatar National Bank and Banque du Caire
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
Beltone, Al Ahly Sabbour sign leasing transaction worth EGP 1.2 bn
Beltone x Al Ahly Sabbour:Beltone’s Financial’s leasing subsidiary has signed a sale and leaseback agreement worth EGP 1.2 bn with…
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