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Infrastructure 
Snackmaker Edita expands frozen food segment
Edita recently doubled its capex for the year to EGP 800 mn
World Bank downgrades Egypt growth outlook + says MENA is on an “unacceptably low” growth path
Egypt growth to slow to 3.7% this fiscal year, MENA as a whole will slow to 1.9% in 2023
Moody’s downgrades Egypt’s sovereign credit rating on rising debt fears
The rating agency downgraded the rating to Caa1 with a stable outlook, four notches above default
Egypt must devalue or risk “bleeding” reserves -IMF chief
Kristalina Georgieva suggests there could be news in the coming weeks on when we can expect a review of progress…
IFC could greenlight funds for East Port Said port expansion this month
The expansion of the terminal falls under Maersk’s USD 500 mn development plans for the East Port Said port
Nearly a fifth of our external debt is due next year
Egypt to pay USD 29.2 bn in debt dues during 2024
Snackmaker Edita lands USD 45 mn loan from the IFC to fuel growth
The loan will support the company’s working capital, fund fresh capex, and help it settle a previous loan from the…
THIS EVENING: Edita is getting USD 45 mn from the IFC
Good afternoon, friends. Welcome to a new week, as well as a new month that may be bringing cooler weather,…
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