Eni pledges USD 8 bn in fresh investments through 2031

Wednesday, 26 Nov 2025

Eni pledges USD 8 bn in fresh investments through 2031

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Today at a glance

Coffee With

CIT Minister Amr Talaat on the infrastructure push to power the country’s digital transformation.

Manufacturing

Prometeon to invest USD 400 mn to boost local production.

WHAT WE’RE TRACKING TODAY

Eni to invest USD 8 bn in the local market over the coming years.

TAX

FinMin to inventory real estate assets ahead of property tax overhaul.

Real estate

Arabia Developments launches EGP 30 bn tower complex in new capital.

ALSO ON OUR RADAR

Orange export season is quickly approaching.

PLANET FINANCE

Global growth to hold steady in 2026, but risks are rising -Oxford Economics.

HARDHAT

We’re testing a fresh model for bonded zones in Egypt.

WHAT WE’RE TRACKING TODAY

Eni to invest USD 8 bn in the Egyptian market over the coming years

Good morning, folks. It’s another relatively slow day on the home front as we inch closer to the weekend. Energy and manufacturing lead the news well after Italian energy giant Eni pledged USD 8 bn in fresh investments into the local market over the coming few years and tiremaker Prometeon Tyre Egypt announced plans to invest USD 400 mn to expand its local operations.

ALSO IN TODAY’S ISSUE- Part one of an interview with CIT Minister Amr Talaat that dives into the country’s digital transformation and much more.

PSA-

WEATHER- Cairo is in for another cool day, with a high of 25°C and a low of 16°C, according to our favorite weather app.

It’s a little cooler in Alexandria, with a high of 23°C and a low of 15°C.

WATCH THIS SPACE-

#1- Maersk has pledged to begin a gradual return to the Red Sea route starting December after signing a strategic partnership agreement with the Suez Canal Authority, according to a statement. No timeline for a full return, however, was given. CMA CGM also committed to a full return to the Red Sea by December, Suez Canal Authority head Osama Rabie said.

Don’t hold your breath: While the statement from the authority puts December as the start date of when we can expect Maersk vessels to make their comeback to the Red Sea, a company representative told Reuters that the firm is yet to set a date.

Other players are not fully convinced just yet: Japanese shipping company NYK is holding off its return to the Red Sea on the back of geopolitical risks, which outweigh the benefits of faster and cheaper routes, Lloyd’s List reports. The firm is currently waiting to see if talks between Israel, the Houthis, and Iran can bear fruit and deliver a lasting settlement.

There are other reasons to be wary of a quick return: With spot rates for containers falling more than 50% this year, shipping lines are incentivized to maintain their current voyages around the Cape of Good Hope over fears that a return to the shorter Red Sea route would flood the market with capacity and cause freight rates to plunge even lower.

In perspective: A return to the Red Sea route could loosen up about 6% to 7% of the world’s shipping capacity at some 2 mn TEUs, which are otherwise tied up due to the long distance of the Cape of Good Hope route.

#2- Eni to invest USD 8 bn in Egypt: Italy’s Eni pledged to invest USD 8 bn in Egypt over the next five years to develop existing fields and carry out additional exploration, CEO Claudio Descalzi said during a meeting with President Abdel Fattah El Sisi. The meeting also touched on the company’s ongoing projects and efforts to strengthen Egypt’s position as a regional energy trade hub.

Eni is doubling back on Egypt’s energy potential: The Italian energy giant extended its Gulf of Suez and Nile Delta concession agreement until 2040, under an agreement it inked earlier this month with the Egyptian General Petroleum Corporation.

#3- TMG to develop eco-friendly tourism project in Sharm El Sheikh: Acting Environment Minister Manal Awad met with Talaat Moustafa Group CEO Hisham Talaat Moustafa to discuss plans for an environmentally sustainable tourism project in Sharm El Sheikh, according to a statement. The project is being designed by international consultants and will focus on preserving coral reefs and natural resources along the Red Sea.

DIPLOMACY-

Intelligence chiefs discuss next phase of Gaza ceasefire: Intelligence Chief Hassan Rashad met yesterday with his Turkish counterpart and the Qatari foreign minister to discuss moving to the second phase of the Gaza ceasefire agreement and stepping up coordination with the US, Reuters reports. The three officials also agreed to continue working alongside the Civil Military Coordination Center to ensure the truce holds and to address violations of the agreement.

POLICY-

Egypt will continue monitoring Ethiopia’s moves in operating and managing the Grand Ethiopian Renaissance Dam and “will take all appropriate measures and steps” to protect its interests in the Nile in line with international law and the UN Charter, Foreign Minister Badr Abdelaty said during an AmCham event attended by EnterpriseAM yesterday.

“Water security is simply an existential issue for us,” he said. Egypt does not oppose Ethiopia’s right to development, he said, adding that this must take place in accordance with international law and within a legally binding framework that prevents harm to downstream states.

REMEMBER- Ethiopia officially inaugurated the GERD in September, after more than a decade of construction and negotiations with downstream nations, Egypt and Sudan, that never went anywhere. Egypt has since sent a formal letter to the UN Security Council following the inauguration, calling the move “an unilateral act in violation of international law.”

DATA POINT-

Half of the USD 11.6 bn invested in the Suez Canal Economic Zone in the last three and a half years came from China, according to a statement. The China-Egypt Teda industrial zone has so far attracted some USD 3 bn over 200 projects, while the Qantara West Industrial Zone has seen more than USD 700 mn in investments from China.

CIRCLE YOUR CALENDAR-

Cairo will host the International Procurement Supply Chain Conference on 6 December. The event will gather over 1k delegates, more than 400 organizations, and over 30 global speakers to discuss the future of trade through keynotes and panel discussions. The discussions will center on Egypt’s transformation in the logistics sector, the future of smart ports and supply chains, as well as digital ecosystems.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

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If you’re investing, trading, or scouting for your next big move in MENA or India, subscribe to EnterpriseAM MENA <> India by tapping here to get the strategic intelligence you need.

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THE BIG STORY ABROAD-

Markets extended their rally yesterday, after new US economic data — including soft retail sales and lower consumer confidence in September — strengthened the case for a third rate cut next month. The Dow closed up 1.43%, while the S&P 500 was up 0.91%. Meanwhile, Nasdaq’s gains were limited to 0.67% on a 2.6% decline in Nvidia over Google competition fears. (Reuters | Financial Times | CNN | Semafor)

OVER IN GEOPOLITICS- A-US backed peace framework won Ukraine’s backing after a few days of intense negotiations, with “only a few remaining points of disagreement,” according to US President Trump. The amended proposal is unlikely to appeal to Moscow, which seems uncompromising on its goals to solidify territorial gains and slash Ukraine’s military within an inch of its life. (CNN | Reuters | CNBC)

ALSO WORTH NOTING-

Trump’s Genesis Mission will build a digital platform to concentrate scientific data and pave the way for using AI in engineering, energy and national security. (Associated Press)
An Ethiopian volcano eruption sent ashes all the way to Delhi. (BBC)

*** It’s Hardhat day — your weekly briefing of all things infrastructure in Egypt: EnterpriseAM’s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education.

In today’s issue: We take a look at how a bonded warehouse pilot could help crank up demand for re-export services.

Tags:

Eni oil and gas WHAT WE’RE TRACKING TODAY

ATP tennis returns to Egypt after 15 years: Somabay to host the Somabay Open – ATP Challenger 50 With the Somabay Open – ATP Challenger 50, Somabay once again steps into the spotlight of international tennis. From 17 to 23 November 2025, professional players from around the world will gather on Egypt’s Red Sea coast for a tournament that marks the next milestone in the destination’s sporting evolution.

Coffee With

CIT Minister Amr Talaat on the infrastructure push to power Egypt’s digital transformation -Part I

Coffee with: CIT Minister Amr Talaat: EnterpriseAM sat down with Dr. Amr Talaat (LinkedIn), the country’s CIT minister. With Egypt’s telecommunications sector successfully attracting the attention of major global companies to launch and expand operations in Egypt, we decided to sit down with Talaat to discuss the strategy that has reshaped the sector, ongoing plans to develop internet and mobile network infrastructure, expansion of submarine cable capacities, and the future of the outsourcing industry. Below are edited excerpts from part one of our conversation:

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

EnterpriseAM: What is the current strategy for the telecommunications sector?

Amr Talaat: The vision has been clear from the start — it is no longer acceptable for the ICT sector to remain purely service-oriented. The sector has reached a level of maturity that enables it to be both service- and production-oriented, providing a wide range of services while also offering broad potential for investments and growth to support employment and contribute to the economy.

The strategy revolves around three main pillars:

Digital transformation to serve citizens and provide services in a fully digitized manner;
Supporting competitiveness in the labor market across all specializations, alongside technological development, while ensuring inclusivity of services for all citizens without exception;
And fostering innovation, entrepreneurial thinking, and startups, which also includes a training component.

EnterpriseAM: Comprehensive digital transformation requires a strong infrastructure. How did we achieve that?

AT: Indeed, the state has spent about USD 6 bn to build a robust infrastructure, covering both fixed internet and mobile networks, and to develop the Egyptian postal system to align with the significant growth in e-commerce.

The second aspect of infrastructure concerns legislation and governance frameworks for the digital world we live in. For example, we issued regulations for promotional calls.

EnterpriseAM: Internet in Egypt has moved from being ranked 40th in Africa to a leading position. How did we do this?

AT: In 2018, when we checked Egypt’s ranking for fixed internet speeds, we were not even in the top 50 African countries. We began a plan to reach 40 Mbps by 2020, up from 6.5 Mbps, aiming to take the first position in Africa — and we succeeded. Today, internet speed in Egypt has reached 90 Mbps.

EnterpriseAM: Covid-19 was seen as a real test for the speed and quality of the internet in Egypt. Is that correct?

AT: If we hadn’t already upgraded the network in 2019, we would have faced a complete collapse due to the increased load during Covid-19. This test was a turning point in attracting companies to outsourcing centers in Egypt, because, compared to other countries, the digital infrastructure absorbed the load from work-from-home arrangements, ensuring companies could continue fulfilling their obligations to clients abroad. This is what led to expansions and attracted new companies.

EnterpriseAM: But maintaining quality comes at a cost. Will we see adjustments in internet and mobile service prices in the near future to reflect rising operational costs?

AT: The constant challenge is always balancing investment with citizens’ ability to afford services. Therefore, companies’ requests are currently being reviewed by the National Telecom Regulatory Authority (NTRA) to make the optimal decision after an in-depth study of the real cost.

EnterpriseAM: Talking about internet speed and international internet services brings us to the topic of the enormous network of subsea cables. What can you tell us about that?

AT: This is an extremely important point. Egypt had 13 subsea cables in 2018, and today it has 21 cables. Our policy is multiplicity and continuity by increasing the number of landing stations on the Red Sea coast, along with a terrestrial network extending to another landing station on the Mediterranean coast.

We had six stations and now we have 11 stations, representing routes that extend up to 2.7k km inside the country to link both coasts. We have also added a parallel network of 2.6k km, which has doubled the local network, creating multiple routes that prevent service outages in case of construction works or urban expansions.

We’ve also built the world’s shortest East-West digital route, parallel to the Suez Canal, making Egypt a global digital corridor — like a maritime route for data.

EnterpriseAM: Do you have plans to expand the cable network?

AT: We are continuously studying joining new consortia to establish subsea cables. We join alliances to reduce costs, enhance international marketing, and expand coverage by ensuring the cable’s presence in many countries.

EnterpriseAM: What are your targets for internet speed in the near future?

AT: Internet speed in Egypt is constantly increasing. What matters most is ensuring service stability and consistency, and continuously improving customer satisfaction at a time when reliance on the internet has grown across all aspects of life. The most important pillar, in my view, is expanding the coverage of internet services.

EnterpriseAM: What is the current internet coverage rate in Egypt?

AT: We have currently reached an internet coverage of 74%, including both fixed and mobile internet. We are working to increase this in the near future through two extremely important projects — one aimed at replacing copper cables with fiber optics and another involving aerial cables. This last one is currently under study as part of a pilot project in the Mariouteya area in Giza, with the possibility of using these aerial cables in some areas with tightly clustered buildings.

EnterpriseAM: Are you about to offer new frequency bands to telecom companies to expand their services to customers?

AT: We are currently in discussions with the companies and are ready to offer any frequency bundles they need, depending on the required capacities and spectrum ranges. We already have available frequencies, and NTRA is currently holding technical discussions with the companies to make a decision.

EnterpriseAM: With the rollout of 5G licenses, will companies need to expand their coverage?

AT: 5G is an extremely important technology, and its true value appears more in industrial applications than in personal use. Therefore, the plan is to integrate 5G technologies with the Internet of Things and AI. This integration boosts industrial capabilities in ports, industrial zones, and hospitals to operate medical equipment. For this reason, we continue to expand the service, and mobile technology is advancing rapidly, which will further support the expansion of 5G services.

EnterpriseAM: What is the expansion plan for Egypt’s digital services?

AT: We provide more than 200 digital government services that enable citizens to complete government transactions anytime and from anywhere, without the need to visit government offices. The number of registered users on the platform exceeds 10 mn people.

Last week, we launched the My Digital ID application in cooperation with the Interior Ministry. It allows for verifying the identity and eligibility of the service requester to issue powers of attorney remotely, as well as using the one-time electronic digital signature service.

We also launched additional services for Egyptians abroad, where certificates can be issued through the Digital Egypt platform. The certificates are delivered and authenticated to the country in which the Egyptian citizen resides. This is done by leveraging the capabilities of Egypt Post to transfer documents from the Interior Minister to the Foreign Affairs Ministry, and then to the consulate. These services represent a qualitative leap in digital services.

The CIT Ministry is working according to a long-term vision based on clear pillars — digitization, human development, and innovation, supported by major expansions in infrastructure. Today, Egypt appears to be in a unique position that enables it to become a global hub for outsourcing and technological industries, benefiting from exceptional human capabilities and expanding digital networks.

** Want more? Part two of our conversation with Talaat will be published in tomorrow’s issue of EnterpriseAM — stay tuned.

Tags:

Amr Talaat CIT ministry Coffee With technology TELECOMS

Manufacturing

Prometeon to invest USD 400 mn to boost Egyptian production

Prometeon wants to expand locally: Tiremaker Prometeon Tyre Egypt — a subsidiary of China National Tire & Rubber Company — plans to invest USD 400 mn to expand its operations in Egypt, company representatives told Investment Minister Hassan El Khatib during a meeting in Cairo. The fresh funds will go towards boosting output and upgrading the capabilities of the company’s existing Alexandria plant.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

The details: The investment will boost the company’s annual production by 1.5 mn tires and raise the efficiency of the company’s existing manufacturing facilities in Alexandria’s Amreya. The firm currently produces 1.2 mn tires a year and has plans to introduce new tire technologies to the Egyptian market.

To carry out its expansion plans, Prometeon is seeking a 200k sqm land plot adjacent to its Amreya plant. The company is also mulling plans to set up freezone to serve the new expansion and to export output.

Dive deeper into Prometeon’s plans for Egypt: Check out our interview with Prometeon Tyre Egypt CEO Stefano Ziliani, where we discussed the company’s future plans, localization push, and much more.

We have a few local tire projects in the works, most notably Chinese tiremaker Sailun Group’s USD 1 bn factory, which kicked off construction earlier this year. Organi Group acquired 50% of Rolling Plus Chemical Industries in March to revive its EUR 1 bn tire factory project in the SCZone in partnership with Concrete Plus. In addition to this, an unnamed Chinese company is reportedly looking to set up a USD 360 mn tire factory in the SCZone in partnership with the state-owned Arab Organization for Industrialization.

** Read more about our fledgling domestic tire industry — and the challenges it’s facing — in this Inside Industry two-parter we published in 2023 (Part I | Part II).

Tags:

automotive investment ministry investment watch Manufacturing

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TAX

Egypt to inventory real estate assets ahead of property tax overhaul

The Finance Ministry will soon begin to take inventory of real estate assets as part of the government’s proposed amendments to the Property Tax Law, a senior government source told EnterpriseAM. The process will apply to units valued at more than EGP 4 mn or those with an annual rental value exceeding EGP 50k.

REMEMBER- The Madbouly government earlier this year doubled the tax exemption threshold for privately-owned houses to EGP 4 mn, shortly after it greenlit amendments to the Property Tax Law. The move came in response to rising property prices and inflation.

The details: The inventory will focus on certain urban areas, including the Fifth Settlement, Sheikh Zayed, the new capital, and New Alamein, according to our source. The process will also include cell towers, electricity stations, and wastewater facilities, with their taxable values to be assessed in coordination with the relevant authorities.

Residential compounds will fall under the first phase of the process, according to our source, who explained that the Real Estate Tax Authority will collect the needed data from the companies managing the compounds. Residential compounds are expected to account for 450k units out of a total of 45 mn housing units, which are estimated to shape Egypt’s real estate wealth, given the lack of an accurate inventory, one of our sources previously told us.

What about tourist cities and coastal resorts? Authorities are currently preparing a list of the companies that own coastal developments along the Red Sea and Mediterranean ahead of requesting data on property owners and occupied units.

FinMin expectations: Following the inventory, the state expects to generate EGP 27 bn in real estate tax revenues in FY 2026-27, up from the targeted EGP 18 bn for the current fiscal year and EGP 8 bn in FY 2024-25, according to our source.

A unified tax declaration? The proposed amendments to the law introduce unified tax declaration for individuals who own multiple units, replacing the current system that requires owners to submit separate declarations at each unit’s respective tax office.

Settling real estate taxes is about to be easier than ever before, with the government preparing to launch a mobile application for tax services next January, which will allow citizens to manage their real estate tax portfolios and pay their taxes electronically, according to our source. The application is currently being tested by state-owned fintech giant e-Finance ahead of its official rollout.

What’s next? The Finance Ministry intends to launch the new package of real estate tax facilities as soon as the yet-to-be-formed House approves it.

Tags:

Finance Ministry tax

Real estate

Arabia Developments launches EGP 30 bn tower complex in new capital

Arabia Developments launched a EGP 30 bn mixed-use tower compound in the new capital called KOR, according to a statement (pdf) from the real estate developer. The 110k-sqm development includes seven towers — two residential towers, four administrative towers, and a hotel. The first phase of the roughly USD 627 mn project — which will include administrative offices and residential units — has been under construction already for six months and is scheduled for delivery in 2029.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

The details: Each tower is 21 floors high, offering a total of 3.5k units. The project will also feature social clubs, a co-working space, as well as a commercial area with stores and restaurants. It is designed to reduce operating costs by over 40% in comparison to conventional buildings and be carbon neutral, in addition to incorporating smart mobility features such as EV charging and bike-sharing stations.

What they said: “We believe that this project is not just a real estate development, it is an integrated platform combining innovation, technology, and sustainability, to present a living model for smart cities that supports urban advancement and enhances the quality of living, work, and entertainment in the new capital,” Arabia Developments founder Tarek Shoukry said.

ALSO- Imarrae launched a EGP 16 bn residential development, KIN, marking its first residential real estate project in New Cairo, the developer said in a statement (pdf). The 96.6k-sqm compound will offer luxury housing, alongside commercial and administrative areas.

“The KIN project represents a strategic move for Imarrae to transition from its leadership in the commercial and administrative sectors to the residential sector,” according to the statement.

Tags:

Arabia Holding real estate

ALSO ON OUR RADAR

Egyptian orange export season is quickly approaching

TRADE-

Orange export season kicks off in December: The Customs Authority has notified agricultural exporters that orange exports will kick off on 15 December, according to a document seen by EnterpriseAM. The upcoming orange export season is expected to significantly boost the value of Egypt’s agricultural exports amid rising global demand for Egyptian citrus, a government source told EnterpriseAM.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

The growing number of registered farms and stricter export requirements have helped enhance the quality of produce prepared for export, the source added. Egypt remains the world’s second-largest orange exporter, according to World Bank data.

DATA POINT- Egypt exported 1.9 mn tons of oranges last season, generating around USD 1.1 bn, according to data from the Central Administration of Plant Quarantine.

EXPANSION-

Local construction player Concrete Plus plans to implement USD 1 bn-worth of infrastructure projects in Uganda and Tanzania next year, Executive Director Rehab Younes told Asharq Business. The company has plans to develop road projects in Uganda and railway projects in Tanzania, as part of its regional expansion strategy.

M&A WATCH-

#1- El Sewedy Cement ups its stake in Qalaa Holdings: El Sewedy Cement raised its stake in EGX-listed Qalaa Holdings to 8.73% — up from 4.97% — after purchasing 159 mn shares in a transaction worth some EGP 93 mn, according to an EGX disclosure (pdf). The shares were bought at an average price of EGP 0.585 apiece.

#2- GlassRock sale is a no-go: EGX-listed mining company Ascom said that it has ended negotiations with a foreign investor over a potential acquisition of its subsidiary GlassRock Insulation, after the two sides failed to reach an agreement, according to a bourse disclosure (pdf).

REMEMBER- Ascom announced in late September that it had signed an agreement with an unnamed foreign investor giving it the green light to conduct due diligence on Glassrock to evaluate a possible offer to acquire 100% of the subsidiary.

CAPITAL MARKETS-

Azimut rolls out low-volatility investment fund: Asset management firm Azimut has launched LV-az, a low-volatility equity fund tracking the EGX35-LV index, according to a press release (pdf). The fund is open for subscription as of yesterday, and will mirror the EGX35-LV index, which screens for high-liquidity, low-volatility names within the EGX100.

SUSTAINABILITY-

Dairy producer Juhayna set up a EGP 500 mn integrated industrial wastewater treatment system at its factories in Sixth of October as part of its strategy to promote sustainable practices and apply circular economy principles, it said in a statement seen by EnterpriseAM.

DEBT WATCH-

Pickalbatros Hotels & Resorts lined up a USD 20 mn medium-term loan from Emirates NBD Egypt, according to a statement seen by EnterpriseAM. The facility will support the group’s expansion plans along the Red Sea, including in Hurghada, Marsa Alam, and Sharm El Sheikh.

Tags:

ALSO ON OUR RADAR construction hospitality Juhayna Pickalbatros sustainability tourism

PLANET FINANCE

Global growth to hold steady in 2026, but risks are rising -Oxford Economics

Global growth proved more resilient than expected in 2025, holding steady at around 2.8% despite political and trade uncertainty following Donald Trump’s return to the White House, according to Oxford Economics’ 2026 global outlook. Looking ahead, the global economy faces a set of intertwined challenges — from shifting trade dynamics to the uncertain path of AI investment and fiscal policy.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

Trade tensions are entering a new phase: After a year dominated by tariff hikes, the focus in 2026 is shifting toward their long-term ripple effects. The US economy is likely to remain relatively insulated, supported by strong household spending and looser fiscal policy. But higher tariffs are expected to weigh on imports, limiting the extent to which US demand can lift global trade. China, on the other hand, is doubling down on manufacturing-led growth and boosting exports even under heavy tariff pressure — a trend that’s driving down global prices and increasing competition in advanced economies. As Chinese exporters move further up the value chain, deflationary pressures are set to hit manufacturers in Europe and North Asia hardest.

AI could either steady or shake global growth: AI investment has been one of the biggest drivers of growth throughout 2025, cushioning the US economy and fueling demand across Asia’s semiconductor and tech sectors. But 2026 could be more volatile, as analysts see room for another surge in AI-related capital spending that could push US GDP growth as high as 3%, compared to a baseline forecast of 2.3%. Still, the boom is entering a riskier phase as financing shifts from banknotes to debt. A sudden correction could slow the US growth to below 1%, with global spillovers to follow.

Fiscal policy takes center stage: While interest rate cuts will continue at a measured pace, they’re unlikely to have a major impact on global growth in 2026. Fiscal policy, not monetary easing, will be the key driver. Despite concerns about debt sustainability in the US, UK, and parts of Europe, governments are expected to keep spending relatively loose, with a slightly positive global fiscal impulse led by China. The bigger risk is not tightening, but rather fiscal expansion — particularly if major economies opt to support growth through higher spending.

Global GDP growth is expected to remain around 2.7% next year — steady overall but uneven across regions. The US is set to remain the outlier, supported by fiscal spending and AI investment. China’s growth is expected to stabilize, though at the cost of intensifying competition for manufacturers elsewhere. Europe and Japan will continue to lag as long-term structural challenges persist. Behind the stable headline numbers, 2026 will see deeper global imbalances and different paths for major economies.

MARKETS THIS MORNING-

Asian markets are firmly in the green this morning with indices riding the tech-driven rally on Wall Street. Japan’s Nikkei is leading gains, up 2.0%, with the Kospi trailing behind, up 1.9%. The Shanghai Composite and Hang Seng are looking at more modest gains.

EGX30	39,903	+0.5% (YTD: +34.2%)
USD (CBE)	Buy 47.76	Sell 47.90
USD (CIB)	Buy 47.77	Sell 47.87
Interest rates (CBE)	21.00% deposit	22.00% lending
Tadawul	10,687	-1.5% (YTD: -11.2%)
ADX	9,761	-0.1% (YTD: +3.6%)
DFM	5,823	-0.1% (YTD: +12.9%)
S&P 500	6,766	+0.9% (YTD: +15.0%)
FTSE 100	9,610	+0.8% (YTD: +17.6%)
Euro Stoxx 50	5,574	+0.8% (YTD: +13.9%)
Brent crude	USD 62.48	-1.4%
Natural gas (Nymex)	USD 4.48	+0.1%
Gold	USD 4,171	-0.1%
BTC	USD 87,366	-1.1% (YTD: -6.5%)
S&P Egypt Sovereign Bond Index	969.71	+0.1% (YTD: +24.7%)
S&P MENA Bond & Sukuk	152.23	0.0% (YTD: +8.8%)
VIX (Volatility Index)	18.56	-9.6% (YTD: +7.0%)

THE CLOSING BELL-

The EGX30 rose 0.5% at yesterday’s close on turnover of EGP 7.6 bn (53.9% above the 90-day average). Local investors were the sole net buyers. The index is up 34.2% YTD.

In the green: Qalaa Holdings (+12.8%), Orascom Development (+3.6%), and CIB (+3.2%).

In the red: Telecom Egypt (-3.5%), Raya Holding (-2.9%), and Juhayna (-2.8%).

CORPORATE ACTIONS-

Eastern Company will pay shareholders a dividend of EGP 2.85 per share on its 2024-2025 earnings, according to an EGX disclosure (pdf). The dividend will be disbursed in two tranches; EGP 1.50 per share on 11 December 2025 and EGP 1.35 per share on 11 February 2026.

Tags:

AI economy fiscal policy Planet Finance trade

HARDHAT

Egypt is running a bonded warehouse pilot test — it could help crank up demand for re-export services

We’re testing a fresh model for bonded zones in Egypt. Earlier this month, we heard that Transcargo International (TCI) will set up Egypt’s first customs-licensed, port-based distribution center in the Suez Canal Economic Zone’s (SCZone) Adabiya Port. EnterpriseAM sat down with TCI and sister company Transmar Deputy CEO Mohamed Mahgoub to discuss how the new facility stands out from other existing privately managed bonded warehouses in Egypt, and what Egypt stands to gain if the model picks up pace.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

The new facility is fundamentally different from traditional bonded warehouses, which normally serve importers inside Egypt, Mahgoub explained. “Instead, our new zone acts as a distribution center for foreign exporters, removing the need for them to set up shop in Egypt, with Transcargo serving as the custodian of their goods within the country,” Mahgoub explained.

SOUND SMART- A bonded warehouse refers to a government-authorized storage facility, where imported goods are held without facing customs duties until they are ready for distribution or export. This allows for the deferral of import taxes and duties on the stored goods, offering businesses the flexibility to manage inventory in a strategic and cost-efficient manner.

Who is the client? Mahgoub did not tell us. “The project was specifically designed for one of our biggest foreign clients…and has been in the works for the last two years.”

How does this work? Under the terms of the new development, Transcargo will manage the designated warehouse, acting as a custodian that receives the products and ensures their integrity during transit time in storage, all the while the product remains under the ownership of the client. Transcargo is also responsible for all related customs procedures in Egypt, such as issuing the needed declarations for the Advance Cargo Information system.

The model is especially well-suited for clients with extensive global operations. “The client did not want to go through the process of setting up a company in Egypt, as it would be a drain on its resources to do so in the large variety of countries it trades with,” Mahgoub said. It also allows foreign companies to set up a base in Egypt by proxy, without the need for a consignee name or dedicating the cargo to a specific entity, Mahgoub said.

If this new concept of bonded warehouses picks up pace, re-exports from Egypt could go up as much as 20%, Transcargo believes. At present, the zone is still in a trial period. “We collaborated with the Finance Ministry and Customs Authority on the project,” Mahgoub explained. “Both departments were very helpful and accepted the idea of having a trial, starting with our facility, ensuring the process went forward without snags.”

“We are already working on the expansion of this model,” remaining confident in its promise, Mahgoub told us. The firm is now looking into options for expansion on the Red Sea, as well as the Mediterranean.

REMEMBER- Egypt’s local warehousing market is forecast to grow at 7% y-o-y over the next five years amid rising demand driven by new industrial zones and expanding e-commerce operations. On a larger scale, the global bonded warehouse market is forecast to grow at a compound annual growth rate of 8%, projected to hit a valuation of USD 50 bn by 2028. The market’s rapid growth is being driven by expanding e-commerce and manufacturing sectors and rising complexity within global supply chains.

One reason Transcargo’s client chose Egypt is its strategic location. The new facility looks to act as a bridge between its clients and their markets. “Shipping a cargo from the UAE to the Mediterranean could take up to 50 days, versus shipping cargo from Egypt to, let’s say, Turkey in one to two days,” Mahgoub said.

Growing global trade instability is expected to bolster the demand for bonded zones in Egypt beyond GCC players. Major global trade players — including India and China — are looking to shorten their time-to-market due to the fluctuation of prices and the turbulent global trade environment. More North American players are also eyeing the GCC, which is set to increase the demand for bonded zones across Mediterranean ports. This marks an opening that could allow Egypt to act as a pillar for intercontinental trade, expanding its role beyond the region to service the broader flow of East-West trade.

Your top infrastructure stories for the week:

The Oil Ministry and the Suez Canal Authority signed an MoU to develop a liquefied natural gas station in Port Said. The station will liquefy, store, and supply LNG to canal tugboats and ferries, replacing conventional fuels.
Hassan Allam Holding and Saudi Arabia’s Tilal Real Estate will develop a SAR3.3 bn integrated real estate project in Riyadh under a strategic partnership inked with the National Housing Company.
Telecom Egypt completed work on the 45k km 2Africa subsea cable, the first of its kind connecting East and West Africa and the longest in the world.

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CALENDAR

NOVEMBER

November: Egypt to join the EU’s Horizon Europe research and innovation program.

November: The Conference on Early Recovery, Reconstruction, and Development in Gaza.

DECEMBER

1 December (Monday): The Egypt Business Solutions Summit, InterContinental City Stars Cairo.

1-4 December (Monday-Thursday): Egypt Defence Expo, Egypt International Exhibition Center.

1-12 December (Monday-Friday): IMF mission for extended fund facility program reviews.

4-7 December (Thursday-Sunday): Egy Stitch & Tex Expo 2025, Cairo International Conference Center.

6 December (Saturday): International Procurement Supply Chain Conference, Cairo, Egypt.

8 December (Monday): Egypt-UK Investment Conference, Cairo.

15 December (Monday): Neo Gen PropTech and Sustainable Smart Cities Conference, The St. Regis Hotel New Capital

25 December: (Thursday): Monetary Policy Committee meeting.

EVENTS WITH NO SET DATE

Mid-2025: EGX launches sustainability index.

December: Germany’s North Rhine-Westphala business delegation to land in Egypt.

3Q 2025: Nasr Automotive begins locally manufacturing passenger cars.

3Q 2025: Polaris Parks to finalize contracts for two new industrial zones in the new capital and Sadat City.

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

2H 2025: Potential visit by Chinese President Xi Jinping to Egypt

4Q 2025: The beginning of construction works on China’s State Grid two solar projects.

4Q 2025: GB Auto starts assembling one of China’s Great Wall Motor models in 4Q 2025.

4Q 2025-1Q 2026: Kasrawy Group to launch first Avatr EV models in Egypt.

2025: The InterAcademy Partnership assembly.

2025: Nile Basin States Summit, Cairo, Egypt.

2025: Release of the government’s Startup Charter document.

Before 2025-end: The government will launch two ro-ro shipping lines with Saudi Arabia and Turkey.

2026

Early 2026: Passenger operations on the New Administrative Capital–Nasr City monorail scheduled to begin.

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

1 January: European Union’s Carbon Border Adjustment Mechanism (CBAM) to fully come into effect.

10-12 February (Tuesday-Thursday): Gitex Global’s AI Everything Middle East & Africa Summit

15 March 2026: IMF to hold its seventh review of Egypt’s USD 8 bn EFF arrangement.

30 March – 1 April: Egypt International Energy Conference and Exhibition 2026 (EGYPES)

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

15 September 2026: IMF to hold its eighth review of Egypt’s USD 8 bn EFF arrangement.

27-29 September (Sunday-Tuesday): Egypt will host the fourth edition of the Global Conference on Population, Health and Human Development.

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

2027

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 for 2027.

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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