BdC’s IPO delayed again, with roadshows pushed to September

Monday, 8 Jun 2026

BdC’s IPO delayed again, with roadshows pushed to September

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Today at a glance

Real estate

Top 10 real estate developers see 6.5% y-o-y sales drop in 1Q 2026.

Economy

Gov’t lowers medium-term economic growth target to 6.8%.

WHAT WE’RE TRACKING TODAY

TMG deepens Saudi ties with new PIF real estate agreement.

WHAT WE’RE TRACKING TODAY

Net foreign reserves inch up to USD 53.1 bn in May.

Also on our Radar

Coca-Cola HBC plans USD 1.28 bn investment in Egypt through 2030.

PLANET FINANCE

Digital gold loses its shine.

BLACKBOARD

Jordanian edutech firm Abwaab acquires local admissions counselling firm Apex in a two-track play.

WHAT WE’RE TRACKING TODAY

TMG inks another agreement with PIF

Good morning, folks. If today’s news was your morning commute, it would be stuck in bumper-to-bumper traffic. Between delayed IPOs, a cooling real estate market, and downgraded economic growth targets, the market is clearly taking its foot off the gas today.

Banque du Caire’s long-awaited IPO hit the snooze button again, with investment banks pushing investor roadshows to September or October to sidestep the summer lull. The government is also revising its optimistic numbers of the past, downgrading its medium-term economic growth target to 6.8%.

In real estate, the country’s top developers saw a 15% drop in sales volumes and a 6.5% drop in total sales value in the first quarter — a slowdown that we have seen for a while now.

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WISH THIS MORNING’S ISSUE was a podcast? We’ve got you. Tap or click here to listen to Morning Drive, a 10-minute version of today’s issue crafted for you to enjoy with your morning coffee, while getting the kids ready for school, or while stomping around the house wondering where the [redacted] you left your [redacted] reading glasses.

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TMG lands another PIF tie-up

Saudi’s Public Investment Fund (PIF) signed an MoU with Talaat Moustafa Group (TMG) to explore mixed-use real estate projects across the fund’s developments in KSA, according to a statement. The non-binding agreement covers residential, commercial, hospitality, retail, and integrated urban developments at sites owned by PIF and its portfolio companies.

The pitch: PIF wants to pair its scale and capital with TMG’s record of building integrated communities, accelerating delivery while opening the door to co-investors. The framework is designed to let additional investors join future project phases and to widen the private sector’s role as partners and suppliers.

TMG has been sharpening Saudi ties for a while now. The developer is building Banan, a 10 mn sqm mixed-use city in Al Fursan suburb in partnership with the National Housing Company — and TMG’s first project outside Egypt. A separate tie-up saw PIF’s Sela and TMG agree to build out an events-and-entertainment business in Egypt.

A golden map

The country’s first comprehensive airborne mineral survey in 42 years is set to wrap by end-2027 at a total cost of USD 60 mn, a source from the Mineral Resources Authority tells EnterpriseAM. Following two years of internal geological indicator work, the government signed a contract with Spain’s Xcalibur last month to jointly execute the project with the Nuclear Materials Authority.

Why it matters: The government wants to boost mining’s contribution to GDP to 5-6%, up from the current 1%. To attract the necessary foreign investment, the government must de-risk the sector, and this survey will slash upfront exploration costs by providing a high-resolution geological map. Paired with recent legislative reforms and the authority’s structural conversion from a bureaucratic service body into an independent economic authority, the new data could unlock our Arabian-Nubian Shield’s reserves of gold, silver, copper, zinc, iron, phosphates, and lithium.

Data point

USD 53.13 bn — that’s where our net foreign reserves stood at the end of May, increasing by USD 125 mn from April to continue a record-breaking streak that has seen reserves grow by about USD 1.68 bn since the start of the year, according to the latest data (pdf) from the Central Bank of Egypt. Foreign currency reserves drove the uptick, adding USD 656 mn to their value to end the month at USD 33.91 bn and offsetting a global price-driven USD 425 mn dip in gold holdings, which fell to USD 18.78 bn.

PSA

WEATHER- It’s another hot day in Cairo, with a high of 36°C and a low of 24°C, according to our favorite weather app.

It’s nicer in Alexandria, with a high of 29°C and a low of 21°C.

You’ve spent decades building wealth, and the question now isn’t how to make money — it’s how to make sure it survives you, works across borders, and doesn’t quietly erode while you’re not looking. The rules have changed. Egyptian real estate, once a near-guaranteed store of value, is competing with markets in Greece, Spain, and Dubai.

Whether it’s art as an asset, crowd-funding, or the tax implications quietly stacking up behind that second passport, the toolkit for serious capital deployment has expanded faster than most conventional advice — or most advisors — have.

In Issue 3 of EnterpriseAM Money Matters, we cover the decisions that matter most when you’re at the stage where capital preservation is just as important as capital growth — and where getting it wrong is no longer something you can simply recover from.

Coming straight to your inbox — Wednesday, 10 June.

The big story abroad

Iran's first strike on Israel since the April ceasefire and Israel’s retaliatory salvo are leading today’s news cycle. The Israeli military claims to have intercepted all the missiles and no casualties have been reported. The Islamic Revolutionary Guards Corps called the barrage retaliation for Tel Aviv’s strikes on Lebanon, claiming the Israeli attacks violated ceasefire terms, and vowed to continue strikes if hostilities resume. Israel fired back by targeting western and central Iran.

Israel must accept a truce, Trump says: US President Donald Trump said that Israeli Prime Minister Benjamin Netanyahu “won’t have any choice” but to accept any resolution Washington closes with Tehran. In a phone call with Netanyahu, Trump pressed the Israeli leader not to retaliate. “Israel had its strike, and Iran had its strike. We don't need another one,” Trump was quoted as saying.

Speaking of which: Trump has publicly urged Federal Reserve Chair Kevin Warsh to cut interest rates, escalating tensions just before Warsh’s inaugural policy meeting. Trump’s demands run counter to current market expectations, which are inclined toward higher borrowing costs following a surge in US employment numbers.

A new and improved ChatGPT: OpenAI’s biggest revamp since its launch of ChatGPT will involve repositioning the chatbot into a “superapp,” which will merge coding tools and AI agents. The changes come as part of a broader evolution at the AI startup, whereby it will shift resources to secure lucrative customers and compete more aggressively with rival Anthropic.

Meanwhile, a high stakes battle unfolds in Italy’s banking sector: Italian banking giants Intesa Sanpaolo and BPER Banca teamed up to structure a joint counter-proposal to take over Monte dei Paschi di Siena (MPS) — considered to be the world’s oldest bank. The move came hours after Banco BPM floated an EUR 50 bn tie-up with MPS.

*** It’s Blackboard day: We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed.

In today’s issue: We talk to the founders behind Abwaab’s acquisition of homegrown admissions firm Apex Education, who let us in on their plans to turn boutique counselling into a scalable product.

Tags:

Central Bank of Egypt critical mineral mining Talaat Moustafa Group What We're Tracking Today

Where the grass court season begins.

From 8-14 June 2026, Somabay will host one of the region’s first professional grass court tournaments as part of the ITF World Tennis Tour, welcoming international players to the Red Sea for a week of world-class competition.

Set within the Soma Sports Arena, the tournament reflects Somabay’s continued rise as a leading destination for global sports events.

The Big Story Today

A fall reset for BdC

Banque du Caire’s (BdC) IPO is delayed again, with investor roadshows pushed to September or October and a new target to float by year-end, missing its original end-of-June deadline. Investment banks managing the offering requested the pause to widen the investor pool during the summer market lull, Hashem El Sayed, assistant prime minister and head of the State-Owned Companies Unit, tells EnterpriseAM.

The regulatory and fair value work is done, El Sayed says, with the prospectus now finalized and submitted to Banque Misr — which owns BdC — and the CBE for review. “A number of international institutions and investors have already expressed interest in participating in the offering,” he tells us, adding that BdC tapped EFG Hermes and CI Capital as joint bookrunners and advisors for the IPO.

The stake size remains unconfirmed. While we reported back in April that the government was hoping to greenlight as much as 49% — the ceiling under current regulations — El Sayed says investment banks are debating a 30-40% slice.

Regional geopolitical tensions tied to the Iran war also drove the delay, the Arabic press reports, citing an unnamed senior government official. This isn’t the first time a war has thrown Banque du Caire’s IPO off course. The bank was forced to push back a 2022 listing attempt after the war in Ukraine rattled the market — the EGX listing deadline was extended to March 2023 before they eventually pulled the plug.

OUR TAKE- EFG Hermes and CI Capital now have more time to rebuild BdC’s institutional book, which was likely disrupted by the Iran war. CI Capital previously found strong appetite during an early-look roadshow to investors in London, New York, and the UAE in December 2025.

Privatization pipeline progress

The government’s goal to temporarily list 30 state-owned companies — including 10 petroleum companies — on the EGX by the end of June is running behind. Only four state-owned companies listed on the main market in May (Chemical Industries Development, El Nasr Fertilizers, Egoth, and Misr Travel), alongside two on the SMEs market (National Asset Management & Investment and National Investment and Reconstruction).

Meanwhile, investment banks managing the Misr Life Ins. IPO are seeking a strategic investor and institutions to cover the private placement tranche. The offering could still go through between June and July provided demand is there, aligning with targets set by Investment Minister Mohamed Farid days ago.

What’s next: A relevant government committee will meet next Tuesday to approve the temporary listing of four petroleum companies, El Sayed says.

REMEMBER- The government is targeting c. USD 4.5 bn in privatization proceeds over the next three years — recalibrated down from USD 6 bn in a single fiscal year due to war sapping investor appetite. The privatization pipeline is also under scrutiny by the IMF, which views it as a critical benchmark for releasing funds. The IMF was progressing toward a late-June disbursement as of last month.

Tags:

Banque du Cairo Privatization privatization watch THE BIG STORY TODAY

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Real estate

The cooling continues

The country’s 10 largest real estate developers saw sales volumes drop 15% y-o-y in 1Q 2026 to c.15.5k units, according to a report (pdf) from The Board Consulting. Total sales value declined 6.5% y-o-y to EGP 271 bn, down from EGP 290 bn a year earlier. This slowdown is a continuation of a cooling trend that began in 2025. However, the drop was cushioned by higher property prices in what the report describes as a market correction phase rather than a “market bubble.”

Why it matters: The market is experiencing two distinct shifts. Domestically, local investors are pulling back, with the share of people buying property for investment dropping from 55% in 2024 to under 20% in 2025. Regionally, the country is emerging as a safe haven for Gulf liquidity. Despite rising costs linked to the Iran war, regional instability is driving funds from Qatar, Kuwait, and Saudi Arabia into Egyptian real estate for long-term safety. This incoming liquidity is heavily concentrated around top-tier developers like TMG, Emaar, and Ora.

The breakdown: Palm Hills remained the top seller despite a 35% y-o-y drop to EGP 52 bn, while TMG followed with a 36% decline to EGP 49.1 bn — together capturing 37% of the top 10’s total sales. Mountain View (down 33% to EGP 14.5 bn) and G Developments (down 23.5% to EGP 13 bn) also saw slowdowns. However, Tatweer Misr recorded the market’s strongest growth, surging to EGP 43.8 bn from EGP 3.2 bn a year earlier. Emaar Misr climbed 46% to EGP 35.6 bn, Ora grew 48.2% to EGP 12 bn, and Hyde Park posted a 17% increase to EGP 25.3 bn.

The destinations: East Cairo remained the dominant region with EGP 130 bn in sales, nearly half the top 10’s market total. The North Coast generated EGP 50 bn, followed by Ain Sokhna at EGP 40 bn and West Cairo at EGP 30 bn.

The North Coast: Despite driving the country’s real estate boom with EGP 1.2 tn in sales during 2024 and 2025 (36% of the EGP 3.2 tn national gated-community total), the North Coast’s sales fell to EGP 518 bn in 2025 from EGP 643 bn in 2024, according to a separate report (pdf). Four developers captured 65% of all North Coast sales over the 2024/2025 period. TMG dominated with a 38% market share, followed by Palm Hills (13%), G Developments (9%), and Modon (5%).

Tags:

construction real estate

Economy

A necessary reality check

Regional wars and economic shocks have forced the government to temper its medium-term economic targets, lowering its growth target to 6.8% by FY 2029/30, down from a previously targeted 7.5%, according to a government planning document reviewed by EnterpriseAM. The downward revision reflects the toll of Red Sea disruptions, falling Suez Canal revenues, and global supply chain shocks.

Why it matters: Call it a much-needed reality check that finally shelves the optimistic projections of the past. The government’s new “cautious-ambitious” scenario is essentially a tacit admission that ongoing regional conflicts and global inflation have made those older, loftier targets impossible to hit.

The revised numbers

Growth and income: The government is now targeting real GDP growth of 5.4% in FY 2026/27, compared to an estimated 5.2% in the current FY. Per capita real GDP is expected to grow by nearly 4% in FY 2026/27, climbing to 5.4% by the end of the medium-term plan.

Investment and savings: The government plans to gradually expand investment activity, projecting a 35.1% jump in total investments to EGP 4.17 tn in FY 2026/27, up from an estimated EGP 3.1 tn in the current FY. This figure is expected to rise steadily to EGP 7.2 tn by the end of the medium-term period. This aims to raise the investment-to-GDP ratio from an estimated 14.5% to 17% in FY 2026/27, eventually reaching 19.6% by FY 2029/30. Meanwhile, the domestic savings rate is projected to jump from 10.5% to 14.6% by the end of the decade.

IN CONTEXT- Our gross domestic savings rate collapsed to just 1.2% of GDP in FY 2024/25, down from 6.1% a year earlier and a fraction of the 20-30% that high-growth emerging markets typically need to fund investment-led growth, veteran banker and EG Bank board member Mohamed Abdel Aal told EnterpriseAM earlier this month. In absolute terms, that’s a fall from EGP 848 bn to EGP 218 bn in a single year.

FX flows and trade: The strategy targets increasing net foreign direct investment to USD 13 bn in FY 2026/27 and pushing it to USD 25 bn by FY 2029/30. The government is also targeting an average annual growth rate of 13.3% for merchandise exports, alongside measures to rationalize imports.

Social targets: The government aims to bring inflation down from approximately 19.9% in FY 2024/25 to 9.3% in FY 2026/27 before it settles at 6.9% by FY 2029/30.

What’s next: The revised framework lands in the Senate today before moving to the House for final review before the end of the month.

Tags:

economy GDP monetary policy

Also on our Radar

Coca-Cola HBC plans to double down on the local market

Coca-Cola HBC Egypt plans to invest USD 1.28 bn in the local market between 2026 and 2030, CEO Zoran Bogdanovic said according to a cabinet statement. The commitment, which follows USD 1.1 bn already invested between 2022 and 2025, was announced by Bogdanovic during the launch of the bottler’s new USD 35 mn PET packaging line at its Amreya factory in Alexandria.

IN CONTEXT- Egypt currently serves as a strategic hub for the group’s regional operations, which are actively driving its global top line. Coca-Cola HBC reported a 15% organic revenue jump in its emerging markets segment in 1Q 2026, fueled largely by strong African volumes. This follows the parent company’s full USD 304 mn acquisition of the Coca-Cola Bottling Company of Egypt in 2022, and its recent move to acquire a 75% stake in Coca-Cola Beverages Africa.

The green Samurai approaches

The USD 500 mn-equivalent Samurai bond issuance is in “the final steps,” Foreign Minister Badr Abdelaty told Reuters during a visit to Tokyo. The African Development Bank is providing a partial credit guarantee covering a portion of the issuance. This will be our third Samurai bond issuance, following issuances in 2022 and 2023, with proceeds expected to be directed toward green and sustainable projects.

IN CONTEXT-The government recently raised the ceiling on its medium-term international bond program to USD 40 bn. For the next FY, the Finance Ministry is targeting USD 3-4 bn in international bond issuances as part of a broader USD 11.2 bn external financing package.

The mortgage handshake

Beltone Mortgage and Coldwell Banker Egypt have inked a strategic partnership to offer flexible financing for ready-to-move properties, according to a press release (pdf). The tie-up pairs Coldwell’s extensive property inventory with Beltone’s signature three-day loan approvals and seven-year repayment tenors, Beltone Mortgage CEO Hassan Abdelnabi said.

REMEMBER- Coldwell Banker Egypt has been securing similar integrated real estate and financing agreements with major players, including First Abu Dhabi Bank Misr last February and Arab African International Bank in April.

Tags:

ALSO ON OUR RADAR Beltone debt debt watch Finance Ministry investment watch

PLANET FINANCE

Digital gold loses its shine

BTC’s digital-gold moment never arrived. BTC briefly fell below USD 60k this week for the first time since October 2024, extending a selloff that has now erased more than half its value from the USD 126k peak reached last year, CNBC and Bloomberg report. ETH sank to its lowest level since last April, while other major tokens including XRP, SOL, and Dogecoin also fell sharply, Bloomberg separately reports.

The awkward part: This should have been BTC’s moment. Geopolitical tensions remain elevated, inflation concerns are resurfacing, and investors are once again debating whether interest rates will stay higher for longer. Yet gold has attracted more defensive flows while BTC has struggled, prompting investors to question both its “digital gold” credentials and its reputation as a high-beta tech trade.

What’s driving the rout? A record streak of ETF outflows, concerns about future demand after Strategy (the world’s largest BTC treasury company) disclosed a rare BTC sale, and a growing sense that crypto is losing its place at the center of the speculative universe. Net assets across BTC ETFs have fallen to USD 80.4 bn from USD 107.8 bn in mid-May, according to CNBC.

Crypto’s bigger problem may be that it is no longer the market’s favorite wager. AI has largely replaced digital assets as the dominant growth trade, while investors now have an expanding menu of alternatives ranging from leveraged ETFs and prediction markets, to stablecoins and perpetual futures.

And there’s another contender waiting in the wings: SpaceX. The potentially record-breaking IPO is shaping up as one of the clearest tests yet of where speculative capital flows next, Bloomberg reports. The listing is banking on the firm’s retail following, allocating 30% of listed shares to retail investors.

The result is a growing fight for retail capital. More than 600 ETFs have launched in the US over the past six months alone, while more than 20 SpaceX-linked ETFs have already been filed ahead of the listing. The takeaway? Investors are still chasing the next big story; BTC just isn’t the only one anymore.

MARKETS THIS MORNING-

Asia-Pacific markets are starting the week in the red as the AI rally seen over the past few weeks reverses course and oil prices surge after Iran attacked Israel. South Korea’s Kospi is down 7.3%, while Japan’s Nikkei is down 4.4%. “The move looks more like a positioning and momentum unwind than ⁠a reassessment of the long-term AI story,” Lucerne Asset Management’s Marc Velan said.

EGX30	52,165	-0.9% (YTD: +24.7%)
USD (CBE)	Buy 51.75	Sell 51.89
USD (CIB)	Buy 51.77	Sell 51.87
Interest rates (CBE)	19.00% deposit	20.00% lending
Tadawul	10,929	-0.6% (YTD: +4.2%)
ADX	9,614	+0.3% (YTD: -3.8%)
DFM	5,768	+0.9% (YTD: -4.6%)
S&P 500	7,384	-2.6% (YTD: +7.9%)
FTSE 100	10,368	+0.1% (YTD: +4.4%)
Euro Stoxx 50	6,062	-0.7% (YTD: +4.6%)
Brent crude	USD 96.35	+3.5%
Natural gas (Nymex)	USD 3.23	-3.2%
Gold	USD 4,365	-3.1%
BTC	USD 61,670	+1.5% (YTD: -29.6%)
S&P Egypt Sovereign Bond Index	1,055	+0.1% (YTD: +6.2%)
S&P MENA Bond & Sukuk	151.48	-0.3% (YTD: -0.3%)
VIX (Volatility Index)	21.51	+39.7% (YTD: +43.9%)

THE CLOSING BELL-

The EGX30 fell 0.9% at yesterday’s close on turnover of EGP 9.2 bn (12.3% above the 90-day average). Regional investors were the sole net sellers. The index is up 24.7% YTD.

In the green: Qalaa Holdings (+6.3%), Raya Holding (+2.3%), and Ibnsina Pharma (+1.4%).

In the red: Fawry (-4.0%), Orascom Investment Holding (-3.6%), and E-finance (-2.9%).

Tags:

crypto Financial Markets Planet Finance

Our weekly deep dive into education in Egypt, from K-12 to post-secondary.

Published every Monday in EnterpriseAM.

Read Blackboard

BLACKBOARD

Two tracks, one acquisition

Admissions, with a data layer: Apex Education, the Egyptian admissions counselling firm that has placed students at Harvard, Oxford, Cambridge, and Stanford, was acquired earlier this year by Jordan-founded edtech platform Abwaab, according to a joint statement (pdf). The plan, the two founders tell us, is to keep Apex as a premium boutique brand for affluent families across the region — and to build a separate, lower-cost product, sitting on top of Apex’s IP and Abwaab’s student data, for the much larger market that can’t afford thousands of USD in counselling fees. Abwaab co-founder and CEO Hamdi Tabbaa declined to disclose the value of the acquisition.

Apex’s pitch starts with a market gap. “We noticed a very big gap between the support that students back home in Egypt were getting when they were looking to apply to these top global universities versus the support that we realized other people were getting from other countries and other schools abroad,” Apex co-founder and CEO Leila Hassan tells EnterpriseAM. “There are so many bright students back home and we wanted to offer them as much support as possible […] to actually stand a better chance of getting into these top universities.”

This is not the same old university-agent model. At one end of the admissions market are study-abroad agents, who represent partner universities and are typically paid by those institutions when a student enrolls. Apex sits in the smaller, higher-touch part: independent counselling paid for by families, with no university-side incentive shaping where students apply. “We don’t represent any specific university, we are not affiliated with a specific university, and, most importantly, we don’t encourage students or push students towards any specific universities because there’s no incentive there for us,” Hassan says. “When a student or family comes to us, we advise them completely independently.”

Independent admissions counselling is still a niche, affluent-family product. Apex’s core destinations are the US, UK, Canada, and Western Europe, where tuition alone puts the service out of reach for most families without scholarships or financial aid. Targeted guidance can cost a few hundred USD, while comprehensive, multi-year support for students applying to highly selective universities can reach several thousand USD, Hassan says. Apex has worked with more than 300 students since launch, including 39 in the most recent admissions cycle. The market is growing steadily, she adds, but remains “mostly concentrated among affluent families.”

Apex works with students on university selection, extracurricular planning, application positioning, essays, interview prep, and managing deadlines. The bulk of the work, Hassan says, is helping students figure out how to present themselves. “We don’t write on behalf of the student. But the student gets one-on-one personalized guidance to brainstorm, draft, and complete their essays.” US applications are typically the most writing-intensive, with some students preparing “literally 20, 25 essays,” while UK, Canada, and Europe applications tend to be “a bit more condensed.” That workload is also pulling the admissions timeline forward: most students still come in Grade 12, but more families are starting in Grade 11, while students targeting the most selective US universities are being encouraged to begin as early as Grade 9 or Grade 10.

Abwaab has wider regional plans. The platform plans to keep Apex as an independent, high-end admissions advisory brand under its wider umbrella, with the GCC as the immediate expansion target. The families able to pay for top US and UK universities are also concentrated in high-purchasing-power markets like Saudi Arabia. “We think there is a lot more to be done within Egypt, but also we can take this to the rest of the MENA region and the GCC,” Tabbaa tells EnterpriseAM. Abwaab aims to grow Apex by multiples, he adds, but “you are not looking at hundreds of thousands of students receiving that specific high-end service in the way it is delivered right now.”

The Jordan-founded online learning platform that offers curriculum-aligned lessons, test prep, and teacher support says mns of students have studied through its services. The company wants to use Apex’s admissions know-how and its own student data to build a separate, lower-cost recommendation engine for its wider base, including national-curriculum students looking at regional universities. The platform handles “bns of data points” on student engagement, Tabbaa says, which can be used to recommend universities, majors, areas of strength, and areas needing improvement. “We are going to use these insights and our tech infrastructure to offer a similar service to the masses.”

That does not mean fully automated counselling. The model is closer to tech-augmented advising: automation handles diagnostics, tracking, requirements, portfolios, and matching, while the counsellor remains the main relationship point. “You tap into their brains, their admissions experience, and their human ability to understand the student, while the automation platform handles the data backend,” Tabbaa says. The augmentation could improve unit economics by 20-40%, he adds, without trying to remove the human judgment at the center of the process.

Tags:

Blackboard Education

CALENDAR

2026

JUNE

16-18 June (Tuesday-Thursday) AFA International Annual Fertilizer Conference & Exhibition, Nile Ritz-Carlton, Cairo.

23-25 June (Tuesday-Thursday): The Big 5 Construct Egypt, Egypt International Exhibition Center, Cairo.

23-25 June (Tuesday-Thursday): Watrex Expo, Egypt International Exhibition Center, Cairo.

30 June (Tuesday): June 30 Revolution.

JULY

9 July (Thursday): Monetary Policy Committee’s fourth meeting of 2026.

23 July (Thursday): Revolution Day (TBC).

AUGUST

20 August (Thursday): Monetary Policy Committee’s fifth meeting of 2026.

26 August (Wednesday): Prophet Muhammad’s birthday.

SEPTEMBER

10-12 September (Thursday-Saturday): Egyptian Entrepreneurship Sector Diagnostics Report Summit, El Gouna.

15 September (Tuesday): IMF to hold its eighth review of Egypt’s USD 8 bn EFF arrangement.

24 September (Thursday): Monetary Policy Committee’s sixth meeting of 2026.

27-29 September (Sunday-Tuesday): Global Conference on Population, Health, and Human Development.

OCTOBER

6 October (Tuesday): Armed Forces Day.

26-28 October (Monday-Wednesday): IEX Egypt, Egypt International Exhibition Center, Cairo.

29 October (Thursday): Monetary Policy Committee’s seventh meeting of 2026.

DECEMBER

7-10 December (Monday-Thursday): Food Africa, Egypt International Exhibition Center, Cairo.

17 December (Thursday): Monetary Policy Committee’s eighth meeting of 2026.

EVENTS WITH NO SET DATE

1Q 2026: Trial operations for the Ain Sokhna-Sixth of October section of Egypt’s first high-speed rail line scheduled to begin.

May 2026: End of extension for developers on 15% interest rates for land installment payments.

July 2026: British Prime Minister Keir Starmer set to visit Egypt.

2H 2026: Operations at Deli Glass Co’s new USD 70 mn glassware factory kick off.

2026: The Egyptian-American Economic Forum.

4Q 2026: Banque du Caire IPO

2027

16-18 January (Saturday-Monday): Agri Expo, Cairo International Convention Center.

20 January-7 February: Egypt to host the African Games.

April 2027: Tenth of Ramadan dry port and logistics hub to begin operations.

EVENTS WITH NO SET DATE

2027: Egypt to host EBRD’s annual meetings.

2027: Egypt-EU Summit 2027.

End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.

September 2028: First unit of the Dabaa nuclear power plant begins operations.

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