China to launch 1 mn feddan New Valley integrated farming zone following China-Egypt Teda trade zone as model

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What We're Tracking Today

Customs clearance times slashed to two days by 2025?

Good morning, folks, and welcome to the start of the week. It’s a relatively slow start to the week, which is a welcome break after last week’s flurry of local business that just kept on coming.

PSA-

WEATHER- Expect a windy day in Cairo, while temperatures are set to start falling, with a high of 22°C, a low of 15°C, and a strong chance of light-medium rain this morning, according to our favorite weather app.

It’s also getting a whole cooler in Alexandria, with a high of 19°C, a low of 14°C, a chance of light rain, along with high winds in the Mediterranean potentially causing maritime disruption.

** DID YOU KNOW that we now cover Saudi Arabia and the UAE?

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WATCH THIS SPACE-

#1- The government is planning to slash customs clearance times to two days by 2025, Investment Minister Hassan El Khatib said at a presser on the ministry’s plan to improve the country’s investment and trade climate. The first phase of the plan will see custom clearance times reduced to four days, followed by the targeted two, which will help increase the country’s competitiveness in investors’ eyes and reduce logistical costs, according to El Khatib.

#2- “For EGP 100, you will get EGP 70 in credit, today, tomorrow, and the day after,” Cairo Chamber of Commerce’s mobile phone division Vice President Walid Ramadan told Amr Adib in response to earlier reports that the charges for recharging mobile phones and internets were to be increased (watch, runtime: 5:22). Ramadan explained that any potential price increase will be in the call or mobile data rates and not in the card price.

HAPPENING TODAY-

The International Finance Corporation’s (IFC) Africa head Sérgio Pimenta is landing down in Egypt today, with the official set to meet with senior government officials — including Prime Minister Moustafa Madbouly and Planning and International Development Minister Rania Al Mashat — to discuss the country’s state asset privatization program, the organization said in a note to the media.

Remember: The IFC was tasked with giving “technical assistance and advisory support” on the state’s privatization program in an agreement inked last year. The two have been assessing an additional 50 state-owned companies to include in the privatization program to determine which sectors would be more attractive and lucrative.

Pimenta will also be meeting with leaders in the private sector and sign climate finance, sustainable tourism, and MSME finance agreements, the statement said, without adding any further details.

HAPPENING TOMORROW-

#1- Time is running out for institutional investors to buy up a piece of United Bank, with the bank’s private placement on the EGX set to wrap up tomorrow. The placement is offering up 95% of the offered shares — equivalent to 313.5 mn shares — at EGP 15.60 a pop.

Retail investors will soon get their chance as well, after the remaining 5% of the offered up shares in the bank — totalling 16.5 mn shares — will be available to retail investors starting Wednesday and carrying on until 3 December.

The total offering could see the bank raise up to EGP 5.1 bn by floating 330 mn of its shares — equivalent to a 30% stake.

#2- Digital Nation 8 is set to kick off at the capital’s Egypt international Exhibitions Center tomorrow, with this year’s conference under the theme Towards a Digital Industrial Renaissance. The three-day Chamber of Information Technology and Telecommunication-organized event will gather leaders in tech from across the world. You can register for the event here.

IN THE SENATE-

The Senate is back in session after a two week break and will reconvene today and tomorrow to discuss a number of potential amendments to three different laws.

#1- The Senate will vote on a bill that aims to tighten restrictions on those aiming to join the importers registry, stipulating that those aiming to join the register should have a capital of at least EGP 500k, and for limited liability companies to have a paid up capital of at least EGP 2 mn. The stated purpose of the bill is to protect local industries and stabilize prices in the local market.

#2- The Senate will also vote on a bill that aims to rebuild and expand the national maritime fleet as a means of boosting Egypt’s commercial maritime capacity.

#3- There will also be a vote on a bill that would make it easier for vessels to acquire Egyptian nationality as part of efforts to promote the country as a hub for trade and logistics. Egyptian nationality will not be limited to individuals and official entities, but will also come through renting and leasing.

What next? Once approved, amendments to the three bills will be referred to the House for a final discussion and vote.

THE BIG STORY ABROAD-

As is often the case on Sundays, there’s no single story driving the conversation in the international press this morning, although news of US president-elect Donald Trump’s pick for Treasury Secretary, along with governments’ reactions to the International Criminal Court (ICC) issuing arrest warrants for Israeli Prime Minister Benjamin Netanyahu pushed business news a bit further down the front pages.

Donald Trump named Scott Bessent as his Treasury Secretary, following a “drama-filled” process with several prominent candidates, including businessman Howard Lutnick and financier Kevin Warsh, vying for the position. Bessent would succeed Janet Yellen in running the department that manages the country’s finances, tax agency, and the Internal Revenue Service. He is currently the CEO and chief investment officer of New York-based hedge fund Key Square Capital Management. Bloomberg | Financial Times | Reuters | CBS News | Wall Street Journal

MEANWHILE FROM COPLAND- COP29 wrapped with an agreement on a USD 300 bn per year global climate finance target following two weeks of high-stress negotiations. The agreement — which will earmark the funding to help developing nations cope with climate change — triples a previous climate finance target, although the USD 100 bn goal was met two years late. Developing nations, however, are criticizing the new target as insufficient. Reuters | Bloomberg

Where Netanyahu is and isn’t welcome: Ireland’s Prime Minister Simon Harris confirmed Netanyahu would be arrested if he entered the country. Canada, Belgium, and Spain pledged to enforce the warrants. Germany said its “Nazi history” makes it “hard to imagine” that it would comply with the warrants, while Hungary, Czech Republic, and Argentina also said they would not comply. France acknowledged the warrants, but stopped short of committing to enforcement, while the UK government stated it would uphold its legal obligations under international law, though it avoided commenting on specifics. Politico | CNN | Guardian | Times of Israel | BBC

SOUND SMART- Decisions of the ICC are binding for its member states and require members to comply with arrest warrants, rulings, and sentences, as per the Rome Statute. However, the enforcement of ICC decisions, especially arrest warrants or requests for the surrender of individuals, depends on the cooperation of member states. Jordan, Palestine, and Tunisia are the only Arab state members of the ICC.

China to launch 1 mn feddan New Valley integrated farming zone

Think Teda, but agricultural: A coalition of Chinese companies has been established to develop a 1 mn feddan integrated farming zone in the New Valley Governorate, following discussions between Prime Minister Mostafa Madbouly and representatives of the Egyptian-Chinese Businessmen Association, according to a cabinet statement. The plan will follow the framework of Ain Sokhna’s China-Egypt Teda trade zone and will be developed in cooperation with the Egyptian public and private sectors, Egyptian-Chinese Businessmen Association Secretary General Mohamed Alaa El Din said.

The details: The project will prioritize cultivating high-value crops such as medicinal and aromatic plants and establish greenhouses for fruit cultivation aimed at exports to European markets. Plans also include advanced agricultural research centers and an industrial complex for agricultural manufacturing.

What comes next: While timelines and financing remain under wraps, the government has pledged to remove any hurdles that could delay implementation.

Central Bank of Egypt keeps rates stable for fifth time in a row

Central bank delivers no surprises on rates: The Central Bank of Egypt left interest rates unchanged after its Monetary Policy Committee met on Thursday, it said in a statement (pdf), citing steady but subdued economic growth and sticky inflation, along with external risks tied to global monetary tightening and geopolitical tensions. “The current policy stance remains appropriate until a significant and sustained decline in inflation materializes,” the bank said.

Where rates stand: The Monetary Policy Committee (MPC) has kept the overnight deposit rate at 27.25%, the overnight lending rate at 28.25%, and the main operation and discount rates at 27.75%.

March’s jumbo rate hike still holds the line: Rates have remained unchanged since the committee delivered a 600 bps rate hike following a surprise monetary policy meeting in March in conjunction with the float of the EGP and a larger loan package from the IMF being approved soon after. Rates have now remained unchanged for five consecutive MPC meetings — the committee left rates untouched when it met in May, July, September, October, and most recently on Thursday.

The global inflationary cooldown remains precarious: While tighter monetary policies have driven inflation down in many advanced and emerging markets, central banks are sticking to restrictive stances to ensure disinflation holds steady, the CBE noted. Despite broadly stable economic growth, risks persist, including the dampening effects of tighter policies, geopolitical tensions, and potential trade protectionism. Meanwhile, forecasts for energy prices have moderated, but remain vulnerable to supply shocks from trade disruptions and extreme weather, keeping inflation risks tilted to the upside.

We’re still running under capacity: Egypt’s economy showed signs of recovery in 3Q 2024, with GDP growth accelerating past the 2.4% logged in 2Q and projections for 4Q showing further improvement, but it remains below potential, supporting a near-term disinflationary outlook, according to the bank. Unemployment ticked up to 6.7% from 6.5%, as job creation struggled to keep pace with new labor market entrants.

The overall picture isn’t bleak: Annual headline inflation held steady at 26.5% in October, marking three consecutive months of relative rate stability and reflecting the lowest food inflation rate in two years at 27.3%, the statement read. The bank pointed to “the gradual normalization of monthly inflation dynamics” and improved inflation expectations as evidence that inflation “will continue its declining course,” though it cautioned that upside risks remain due to fiscal measures, geopolitical tensions, and global trade disruptions. The CBE expects inflation to stabilize through year-end, before easing further in 1Q 2025.

No surprises here: All nine analysts and economists polled by EnterpriseAM forecast the CBE’s decision to keep rates unchanged, citing persistent inflationary pressures driven by rising fuel prices and ongoing regional geopolitical tensions. Most of the analysts we spoke to see inflationary pressures ticking up again in November, driven by energy price hikes and the rise in tobacco prices.

But the central bank could move to cut rates in the months to come, think analysts: Most analysts predict that the central bank will start cutting rates in the first quarter of next year, including Dina El Wakkad, who cited a more “favorable base effect and a more relaxed global monetary environment.”

From the international desk: The decision to hold rates steady aligns with expectations tied to Egypt’s fourth IMF review, which could unlock a USD 1.3 bn loan tranche, according to Bank of America’s Jean-Michel Saliba, Bloomberg reports. EFG Hermes’ Mohamed Abu Basha adds that the focus remains on taming inflation to create space for rate cuts next year as price pressures ease, Abu Basha told Bloomberg separately.

SCZone signs land agreement with Orascom Industrial Parks for EGP 13 bn complex

Orascom Industrial Parks’ planned Sokhna industrial complex is one step closer to kicking off construction: The Suez Canal Economic Zone (SCZone) signed a land usufruct agreement with Orascom Construction subsidiary Orascom Industrial Parks for its already announced EGP 13 bn integrated industrial complex planned for the Sokhna Industrial Zone, according to a statement from the authority. Orascom will develop, market, and manage the zone under a revenue-sharing mechanism with the authority.

More details about the project have come to light: The multi EGP bn project will cover a 3.3 sq km area and create over 30k jobs. The complex will target heavy and medium industries, in addition to plug and play facilities.

We first heard about the project in March, when the SCZone greenlit the project alongside several other projects.

Banque Misr secures USD 1 bn syndicated loan led by Mashreq Bank and Emirates NBD Capital

Eighteen banks from across the world help Banque Misr raise USD 1 bn loan: Banque Misr has signed a USD 1 bn senior unsecured syndicated term loan facility with a syndicate of 18 banks from across Europe, the Middle East, Asia, and Africa, Hapi Journal reports. The two-year facility with an option to extend for an additional 12 months was led by Mashreq Bank and Emirates NBD Capital, who acted as joint coordinators, lead arrangers, and bookrunners.

The breakdown: Middle Eastern banks contributed 72% of the total liquidity for the loan, which was 1.8x oversubscribed. The transaction was completed within 40 days.

What’s the money for? The fresh funds will go towards working capital and refinance existing facilities.

IFC COULD GRANT USD 30 MN IN FINANCING TO ATTIJARIWAFA BANK-

Attijariwafa could be in line for USD 30 mn in financing from the IFC: The International Finance Corporation (IFC) is looking into granting Attijariwafa Bank Egypt with a total of USD 30 mn in financing, according to an IFC disclosure. The financing will be split between a subordinated loan of up to USD 20 mn and the local currency equivalent of a USD 10 mn unfunded risk sharing facility to support the bank’s lending program to small and medium enterprises (SMEs).

The EGP exchange rate against the greenback was back in the headlines

Hisham Ezz El Arab’s conversation with El Hekaya’s Amr Adib was the most noteworthy event on last night’s talk shows, with the CIB CEO discussing the recent drop in the value of the EGP against the USD and Egypt’s program with the IMF.

“The USD is performing strongly against all global currencies since the US presidential results were announced — and the EGP is no exception,” Ezz El Arab told Adib (watch, runtime: 32:37). He described the EGP’s latest drop against the USD as “natural,” and emphasized that it shouldn’t be a cause for concern.

“The exchange rate is not part of the state’s dignity, it is one of the tools used to manage the economy, and the focus should be on combating inflation,” Ezz El Arab argued. “Stability is not about fixing the exchange rate against the USD, but rather stabilizing policies. The worst thing is having unclear policies. Today, you have consistent and stable policies that will not lead to crises,” he said, adding that “what matters is liquidity in the market, not the exchange rate, whether it reaches EGP 30 or EGP 52 to the USD.”

The IMF wants a bigger role for the private sector, Ezz El Arab said, explaining that “the IMF mission that visited the country to conduct the fourth review of Egypt’s loan program had a real and fundamental issue with the state’s failure to exit the economy and the marginalizing of the private sector.” The Fund wants to raise the private sector’s contribution to the economy to 70%, the state to step away from the economy, and the reduction of the debt servicing burden.

ALSO- The ICC’s decision to issue an arrest warrant for Netanyahu received airtime across the channels: “The ICC’s decision has already come into effect. There are 125 countries that Netanyahu and Gallant are prohibited from visiting, and they will be arrested immediately upon landing at any of those countries’ airports,” international criminal law professor Mohamed Elewa said in a phone call on El Hekaya (watch, runtime: 10:31).

Community backlash from Alexandria cement plant's coal burning catches the attention of international press

COP29 puts Egypt’s use of coal in the spotlight: Residents of Alexandria’s Wadi Al Qamar neighborhood are fighting to hold the Alexandria Portland Cement Company accountable for coal-related pollution they claim is damaging their health and environment, Reuters reports. “Every night, we see particles falling from their chimneys. Under street lights, you can clearly see the dust raining down,” the newswire quotes a local grocery store owner as saying.

Mohamed Mansour could soon be one of the new owners of the UK Telegraph, with the chairman of Mansour Group and Man Capital and former Tory chancellor Nadhim Zawahi reportedly in talks to join the US-led consortium vying to take over the paper, the Financial Times reports. Mansour already has a prominent position in British public life, having previously served as treasurer of the Conservative party and recently receiving a knighthood for his service to business, charity, and politics.

Al Mashat meets with EU delegation to discuss unlocking EUR 1.8 bn investment guarantee mechanism

INVESTMENT-

Could we soon see the EU’s EUR 1.8 bn investment guarantee pledge? Planning and International Cooperation Minister Rania Al Mashat met with a delegation from the European Union to discuss unlocking EUR 1.8 bn in investment guarantees from the bloc, according to a statement by the ministry.

Remember: The EUR 1.8 bn investment guarantees were first announced back in March as part of the EU’s EUR 7.4 bn aid package for the country. Channeled through the European Fund for Sustainable Development Plus, the funds are expected to bring in some EUR 11 bn in foreign investment, targeting sectors including energy, food security, water, and climate action, and human capital.

Al Mashat also met with a World Bank delegation to discuss Egypt’s FDI strategy, alongside Investment Minister Hassan El Khatib, according to a separate statement from the ministry. The discussion focussed on Egypt’s FDI strategy for between 2025 and 2030 that is being prepared with the World Bank.

HOSPITALITY-

Palm Hills and Marriott to launch Ritz-Carlton Residences in Cairo: Palm Hills and Marriott International signed an agreement to establish The Ritz-Carlton Residences, according to a statement (pdf). The project, set to open in 2025, spans over 45 acres and features 150 branded units in West Cairo. The residences, located near the Grand Egyptian Museum and Sphinx International Airport, will include facilities such as a pool, fitness center, and lounge, with access to The Ritz-Carlton Palm Hills hotel.

What they said: “This partnership aligns with our strategic vision to strengthen our tourism portfolio and enhance the tourism sector across Egypt, supporting the nation's goals for bolstering the hospitality industry. Palm Hills is broadening its presence in the hospitality sector by expanding its portfolio of hotels across Egypt” Co-CEO Hazem Badran said.

Bank NXT to offer mortgages with the Urban Development Fund: EFG Holding’s commercial bank Bank NXT signed a cooperation protocol with the Urban Development Fund (UDF) to provide mortgage financing to individuals purchasing UDF units in governorates across the country, according to a statement (pdf ). The initiative is set to provide financing to individuals from various income levels, including mid-income families, offering flexible terms and attractive interest rates of up to EGP 15 mn in financing.

What they said: “We are committed to driving sustainable development through innovative financial solutions. This cooperation with UDF reflects our unwavering dedication to advancing financial inclusion initiatives that help make homeownership more accessible to a broader population segment,” Bank NXT CEO and Managing Director Tamer Seif said.

PHARMA-

Eipico’s biopharma plant to begin operations during the beginning of next year: Eipico’s USD 100 mn biopharma factory is set to launch operations during 1Q 2025, according to a Health Ministry statement. The factory aims to localize the production of biologics and biopharmaceuticals both in terms of their final products and as active ingredients.

STARTUPS-

ITIDA, Plug and Play to support 60 Upper Egypt startups: The Information Technology Industry Development Agency (ITIDA) and US-based VC firm Plug and Play inked an MoU to support 60 tech startups in Upper Egypt through five bootcamps, according to a statement from the CIT Ministry. The bootcamp series will focus on agritech, healthtech, e-commerce, govtech, and tourism, equipping entrepreneurs with market development, financial management, and scalability skills.

INS.-

FRA to allow issuance of e-ins. policies for new vehicles: The Financial Regulatory Authority (FRA) has issued a decision to allow the issuance and distribution of standardized ins. policies for new cars electronically, the authority said in a statement. The decision will initially only apply for new vehicles only, which the authority said is down to the fact that they do not require inspections or evaluations to determine the insured car’s value or premiums.

Adani stocks plunge on US indictment

The aftermath of Adani’s indictment: In the wake of Indian bn’aire Gautam Adani’s indictment on bribery and fraud charges, the Adani Group saw its companies lose USD 27 bn in value by market close the day after the news, Reuters reports. Losses extended into Friday, with Adani Group companies losing a combined USD 1.2 bn in value, the newswire reported in a separate story.

What went down? US prosecutors formally charged Adani and seven others with involvement in a USD 265 mn bribery and fraud scheme, promising contracts that would have yielded USD 2 bn in net income over 20 years. The charges also detail raising capital through false and misleading statements, including USD 2 bn in syndicated loans and another USD 1 bn from bond offerings sold to US-based investors.

Adani Green Energy scrapped its USD 600 mn bond issuance, which was offered to the market mere hours before the charges made the news. The debt offering was almost 3x oversubscribed and had drawn over USD 1.9 bn in orders, Bloomberg reports.

Kenyan President William Ruto called off two major projects with Adani, including a USD 2 bn airport project at Jomo Kenyatta International Airport — that would have seen Adani add a second runway and upgrade the passenger terminal in exchange for a 30-year lease — and a USD 736 mn power transmission line project, Reuters reports.

Adani has gone on the defensive, rejecting the accusations as “baseless,” and reaffirming that “Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations,” the group said in a statement.

This isn’t Adani’s first controversy, with the group being on the receiving end of a sackful of allegations over the years. The accusations include market manipulation and fraud schemes made by US short seller Hindenburg Research, which triggered massive share sell-offs in January 2023 and again in August, to allegations of using offshore funds to trade its own shares, to protests over the Kenya airport project.

EGX30	30,632	+0.1% (YTD: +23.1%)
USD (CBE)	Buy 49.61	Sell 49.74
USD (CIB)	Buy 49.62	Sell 49.72
Interest rates (CBE)	27.25% deposit	28.25% lending
Tadawul	11,841	-0.2% (YTD: -0.8%)
ADX	9232	-0.9% (YTD: -3.6%)
DFM	4724	-0.1% (YTD: +16.4%)
S&P 500	5969	+0.4% (YTD: +25.2%)
FTSE 100	8262	+1.4% (YTD: +6.8%)
Euro Stoxx 50	4789	+0.7% (YTD: +5.9%)
Brent crude	USD 75.17	+1.3%
Natural gas (Nymex)	USD 3.13	-6.3%
Gold	USD 2737.20	+1.4%
BTC	USD 97,971.70	-1.4% (YTD: +131.9%)

THE CLOSING BELL-

The EGX30 rose 0.1% at Thursday’s close on turnover of EGP 3.0 bn (29% below the 90-day average). Regional investors were the sole net sellers. The index is up 23.1% YTD.

In the green: Faisal Islamic Bank -EGP (+3.3%), Elsewedy Electric (+2.1%), and Eastern Company (+1.8%).

In the red: B Investments Holding (-2.6%), Emaar Misr (-1.7%), and TMG Holding (-1.7%).

El Sisi talks investment with World Economic Forum President Borge Brende

President Abdel Fattah El Sisi and a number of members of the Madbouly cabinet met with World Economic Forum President Borge Brende on Saturday, discussing the latest on Egypt's developmental efforts and projects in the infrastructure, industry, and agriculture sectors, according to an Ittihadiya statement. El Sisi emphasized the importance of encouraging private sector investment from foreign investors in sectors that include industry, sustainable energy, telecommunications, digital transformation, artificial intelligence, and transportation.

The WEF is ready to promote investments and reforms in Egypt, Borge said, according to separate statement covering his meeting with Planning and International Cooperation Minister Rania Al Mashat.

PLUS- Foreign Minister Badr Abdelatty met with Democratic Republic of Congo President Félix Tshisekedi and other officials in Kinshasa to discuss enhancing cooperation in energy, agriculture, irrigation, transport, infrastructure, and pharmaceuticals, according to a ministry statement. They signed agreements, planned to establish a joint business council, and agreed to convene a joint committee. Abdelatty also delivered a message from President El-Sisi inviting Tshisekedi to Cairo and emphasizing Egypt’s commitment to stronger ties.

ALSO- Abdelatty also discussed enhancing trade and investment ties with his Congolese counterpart Térèse K. Wagner, according to a ministry statement. They discussed adherence to international law principles regarding the Nile as well as regional issues. They signed agreements on visa exemptions and developmental projects, including the MBANKANA 1 Dam and a cardiac surgery wing in Kinshasa.

MEANWHILE- Abdelatty discussed regional tensions with Iranian Foreign Minister Abbas Araghchi, urging ceasefires in Lebanon and Gaza, according to a ministry statement. He emphasized Egypt’s support for Lebanon’s stability, including electing a president through consensus and empowering institutions like the army.

AND- Abdelatty also jumped on the phone to discuss the conflict in the region with his French counterpart Jean-Yves Le Drian yesterday to exchange views on developments in Gaza and work towards reducing tensions in the region, according to a ministry statement. Abdelatty called for doubling the humanitarian assistance provided for Palestinians in Gaza and warned of ongoing settlement expansions in the West Bank, saying that they pose a threat to the possibility of the establishment of a Palestinian state under a two-state solution.

CALENDAR

2024

NOVEMBER

20-25 November (Wednesday-Monday): United Bank IPO private placement

23-26 November (Saturday-Tuesday): Moscow delegation visit to Cairo and Alexandria.

25-27 November (Monday-Wednesday): Annual Digital Nation Conference, Cairo, Egypt.

26-28 November (Tuesday-Thursday): Egypt Energy Show, Cairo, Egypt.

27 November-3 December (Wednesday-Tuesday): United Bank IPO retail placement

28-30 November (Thursday-Saturday): Cairo International Wood and Wood Machinery Show, Cairo, Egypt

29 November (Friday): Egypt and Italy to launch a ro-ro shipping line connecting Damietta Port with Italy’s Port of Trieste.

29 November (Friday): Startup Sync, Cairo, Egypt.

30 November (Saturday): Deadline to apply for renewable energy projects under the peer-to-peer (P2P) system.

DECEMBER

15-17 December (Sunday-Tuesday): Nebu Expo for Gold & Jewelry, Cairo, Egypt.

16-17 December (Monday-Tuesday): Mining World Conference 2024, London, UK.

26 December (Thursday): Central Bank of Egypt’s Monetary Policy Committee meeting.

EVENTS WITH NO SET DATE

2H 2024: Gov’t to launch the Cairo Ring Road BRT buses.

3Q 2024: Egyptian-Armenian Joint Committee.

First week of November: Egypt-Turkey high-level trade consultation mechanism.

November 2024: Egypt to host the World Urban Forum (WUF12).

End of 2024: The launch of the high-speed train line linking Ain Sokhna with Al Alamein City.

22 December (Sunday): The Nahda University Economic Forum’s third edition is set to take place.

2025

January 2025: CBE to launch InstaPay remittances for Egyptians abroad

28 January (Tuesday): Nigeria to inaugurate the USD 5 bn Africa Energy Bank in Abuja.

7-10 April 2025 (Monday-Thursday): EFG Hermes One on One conference, Dubai, UAE.

May 2025: Egyptian Exporters Association (Expolink) exhibition, Italy.

July 2025: The first operational trail of Egypt-KSA electricity interconnection line.

March 2025: Operation of phase one of the Amotope wind farm

EVENTS WITH NO SET DATE

1H 2025: Digital Financial Identity Company will launch an electronic bank account opening service

1Q 2025: Eipico’s biopharma plant to begin operations .

2025: The InterAcademy Partnership assembly.

2025: Nile Basin States Summit, Cairo, Egypt.

2Q 2025: Safaga Terminal 2 to start operations.

Mid-2025: The Administrative Capital for Urban Developments to roll out the second phase of offering industrial plots to investors.

2027

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

EVENTS WITH NO SET DATE

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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China to launch 1 mn feddan New Valley integrated farming zone following China-Egypt Teda trade zone as model

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Customs clearance times slashed to two days by 2025?

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China to launch 1 mn feddan New Valley integrated farming zone

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Central Bank of Egypt keeps rates stable for fifth time in a row

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SCZone signs land agreement with Orascom Industrial Parks for EGP 13 bn complex

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Banque Misr secures USD 1 bn syndicated loan led by Mashreq Bank and Emirates NBD Capital

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The EGP exchange rate against the greenback was back in the headlines

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Community backlash from Alexandria cement plant's coal burning catches the attention of international press

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Al Mashat meets with EU delegation to discuss unlocking EUR 1.8 bn investment guarantee mechanism

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Adani stocks plunge on US indictment

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El Sisi talks investment with World Economic Forum President Borge Brende

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