FinMin gears up for second sovereign sukuk issuance

Monday, 12 May 2025

FinMin gears up for second sovereign sukuk issuance

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Today at a glance

DEBT WATCH

FinMin could complete a sovereign sukuk issuance as early as this month.

Energy

Gov’t finds defective fuel samples, promises compensation to those impacted.

WHAT WE’RE TRACKING TODAY

Trump will land in the Gulf tomorrow.

ALSO ON OUR RADAR

Core inflation rises 1 pp to 10.4% in April.

LAST NIGHT’S TALK SHOWS

Al Mashat joins Adib for a conversation on the government’s fiscal goals.

WHAT WE’RE TRACKING TODAY

Freezones to begin hosting export-oriented service startups.

PLANET FINANCE

What are investors doing to hedge against fresh shocks?

BLACKBOARD

What are Egypt’s plans to internationalize technical education?

WHAT WE’RE TRACKING TODAY

Egypt’s freezones to begin hosting export-oriented service startups

Good morning, all. After a busy start to the week, we have a brisk issue for you this morning, led with some debt news with the Finance Ministry weeks away from its second sovereign sukuk issuance and the government finding defective fuel samples.

PSA-

WEATHER- After one very hot day, it’s a little cooler in Cairo today, with a high of 32°C and a low of 23°C, according to our favorite weather app.

It’s a little cooler in Alexandria, with a high of 26°C and a low of 23°C.

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

** Were you forwarded this email? Tap or click here to get your own copy delivered every weekday before 7am Cairo time — without charge.

ICYMI- Missed this week’s Inside Industry? In our weekly vertical exploring all things industry and manufacturing, we looked at how recent price adjustments and structural shifts pushed the country’s pharma sector to grow. Check out the story here.

SMART POLICY-

Startups in freezones? The country’s freezones will begin hosting export-oriented service startups for the first time, General Authority for Investment and Freezones (GAFI) head Hossam Heiba said. An area of 9k sqm will be allocated for the administrative and operational headquarters of startups, with the aim of attracting investments from companies operating in software exports and AI-powered applications.

Support on ground: The zones will house supporting institutions for startups in consulting, marketing, and legal service, Heiba said.

AND- A law regulating financial and business centers will be out this year as part of wider efforts to “transform Egypt into a regional hub for investment funds, particularly VCs to mobilize local and foreign funding for Egyptian startups,” Heiba added.

WATCH THIS SPACE-

Gov’t to launch a fund for Takaful and Karama: The Madbouly government will launch an investment fund dedicated to beneficiaries of the Takaful and Karama program, Social Solidarity Minister Maya Morsy told Kelma Akhira’s Lamees El Hadidi (watch, runtime: 2:04). The fund will offer investment programs to boost financing and allow for better resource management.

THE BIG STORY ABROAD-

Trump preps for Gulf trip: US President Donald Trump will land in the Gulf tomorrow in a bid to drum up investment and expand trade with our part of the world. Agreements in investment, oil, defense, AI infrastructure, and nuclear power, are all in the cards when Trump starts his tour in Saudi Arabia on Tuesday before heading on to the UAE and Qatar.

The swing through the region is set to see “a huge number of investment and trade [agreements] happening,” Arab News’ Faisal Abbas told CNBC, stressing that injections of capital should be a two-way street. A potential lifting of the 10% tariff on aluminum and steel could also be on the agenda, CNBC reported elsewhere. Gulf officials are actively looking to tie fresh investment and big purchases of US goods to preferential tariff treatment for exports from our region.

IN CONTEXT- Did Washington just reach a trade agreement with China? Senior White House officials released a statement shared on X overnight headlined “US announces China trade deal in Geneva,” but stopped short of offering details, saying they would be released later today. The swing through the Gulf has largely been positioned in Washington as part of the White House’s drive to diversify trade ties away from China as Trump’s trade war brews.

The news received attention from: BBC | CNN | The Guardian | The Washington Post | Financial Times.

AND- Hamas announced yesterday it will release the last living US national held inGaza, Edan Alexander, as part of efforts to secure a ceasefire, with sources expecting the release within 48 hours. Trump hailed the step on Truth Social as a necessary step to “end this brutal conflict.” The move was welcomed by Egypt and Qatar, who issued a joint statement, calling the move a goodwill gesture that could help revive ceasefire talks in Gaza.

ALSO- Ukrainian President Volodymyr Zelenskyy said he’s hoping to meet Vladimir Putin personally in Turkey on Thursday, following a televised statement by the Russian President that saw him call for the first direct talks between the two countries since early 2022 in Istanbul. The statement came after EU officials have joined Ukraine in pressuring for a 30-day ceasefire.

*** 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 look at Egypt’s plans to internationalize technical education.

Tags:

startups WHAT WE’RE TRACKING TODAY

Somabay Sports Arena steps up as a leading sports destination by welcoming new partnership with S Tennis Academy and expanding its partnership with Oneflow to manage Football Courts and the Aquatics Center. With global training camps, elite facilities, and stunning surroundings, Somabay continues to shape the future of sports tourism on the Red Sea.

DEBT WATCH

Egypt’s Finance Ministry to complete a sovereign sukuk issuance as early as this month

We’re inching closer to our second-ever sovereign sukuk issuance: The Finance Ministry is aiming to complete an issuance of sukuk before the end of FY 2024-2025, a government source told EnterpriseAM. This was confirmed by another government source, who told us that the government is currently waiting on the most opportune time to complete the issuance, and said that this could happen as early as this month.

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

REFRESHER- Finance Minister Ahmed Kouchouk said last month that Egypt is planning on issuing USD 2 bn in sukuk in 2025 through multiple offerings, with the government already having appointed banks for the issuance. The banks involved in the issuance are the same ones that managed our maiden sukuk issuance in February 2023 — HSBC and Citibank, along with Dubai Islamic Bank, First Abu Dhabi Bank, and Abu Dhabi Islamic Bank — a senior government source told EnterprimeAM at the time.

ICYMI- Egypt last tapped the global debt market back in January, with a USD 2 bn eurobond issuance.

The details: The issuance — which would mark Egypt’s second ever sovereign sukuk issuance — will finance a portion of the current fiscal year’s funding needs, both sources told EnterpriseAM. The government has also already held promotional meetings with investors who would be interested in new sukuk issuances, the sources said.

Egypt’s financing needs are on the rise: The Madbouly government’s financing gap for the FY 2025-26 fiscal year is estimated to come in at EGP 3.6 tn, up 25% y-o-y. Meanwhile, the budget deficit to GDP is expected to decrease from the 7.6% estimated for this fiscal year to 7.3% of GDP in FY 2025-26, before falling further to 5.5% of GDP in FY 2026-2027.

There could be even more in the pipeline: A government source told EnterpriseAM back in February that the government plans to issue between USD 1-1.5 bn worth of green bonds or eurobonds and its first social bonds in 4Q 2025.

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debt debt watch Finance Ministry sukuk

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Energy

Egypt promises compensation to car owners impacted by defective gasoline

Gov’t finds defective fuel samples: The oil and supply ministries have conducted tests of gasoline samples in circulation — finding five samples not in compliance with established standards out of a total of 807 collected, according to a statement. The investigation came after 870 complaints were made by citizens in the first week of May over the quality of gasoline.

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

The results: Two defective samples were found in Cairo and Qalyubia governorates after the collection of 250 samples from Greater Cairo. Out of 68 samples collected in Upper Egypt, two were found to be defective in Beni Suef and Qena. One substandard sample was found after collecting 136 samples across Alexandria, Kafr El Sheikh, Beheira, and Matrouh. All samples collected in the Suez, Red Sea, and South Sinai governorates were compliant.

To ensure it doesn’t happen again: The Oil Ministry enacted additional measures to ensure fuel supplied to fuel stations meets specifications — domestic refineries may not begin releasing fuel for sale until their samples are tested by two separate laboratories and verified. Meanwhile, imported gasoline must be tested by three laboratories under the supervision of independent companies. The supply chain itself will be evaluated on quality before and after the gasoline ships.

Compensation will be paid out: The ministry will be reaching out to all those who submitted complaints and determine their eligibility for compensation for damaged fuel pumps of up to EGP 2k. Claimants must have submitted complaints between 4-10 May, possess proof of vehicle ownership, as well as an approved invoice for the newly-installed fuel pump.

Tags:

energy oil and gas

A MESSAGE FROM HALEON

Haleon backs major initiative to boost oral health access across Egypt

Oral health remains a significant challenge in Egypt, with widespread tooth sensitivity and low toothpaste penetration hindering preventative care. Addressing this gap, global consumer health leader Haleon, maker of Sensodyne, has launched the "Sensodyne Smile Bank" initiative.

What is the Smile Bank? In partnership with the Egyptian Dental Association and the FDI World Dental Federation, this ambitious three-year program aims to provide free dental check-ups and treatments to three million Egyptians by 2027. Dental convoys will be deployed across all governorates, significantly enhancing access to essential care.

Why now? The initiative directly tackles barriers to everyday health, aligning with Haleon's commitment to health inclusivity. Beyond treatments, it focuses on prevention through awareness campaigns and developing medical education programs for young dentists, fostering sustainable improvements in oral health nationwide. This strategic partnership aims to empower millions towards better self-care practices.

Read more about Haleon's approach to health inclusivity here.

Tags:

A MESSAGE FROM HALEON Haleon

LAST NIGHT’S TALK SHOWS

Al Mashat joins Adib for a conversation on the government’s fiscal goals

A conversation with Al Mashat: Planning Minister Rania Al Mashat joined El Hekaya’s Amr Adib for a discussion about the government’s fiscal goals, saying the state is working on closing the funding gap through macroeconomic stabilization, FDI attraction, and enhanced competitiveness (watch, runtime: 5:16). On the tariffs front, Al Mashat pointed out that a resolution to trade tensions between the US and China would help developing countries like Egypt by boosting global investment flows and market stability (watch, runtime: 6:30).

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

ALSO- The Old Rent Law debate continues: Kelma Akhira’s Lamees El Hadidi had coverage (watch, runtime: 13:27) of the growing criticism surrounding the proposed amendments to the Old Rent Law, with both tenants and landlords voicing objections and raising questions over the fairness of the current draft. Ayman Essam, legal advisor to the Old Rent Tenants Association, suggested tying rent hikes to the year each lease was signed — a proposal he floated during a phone-in with El Hadidi (watch, runtime: 3:06).

The clock is ticking: Parliamentary Affairs Minister Mahmoud Fawzi told Adib (watch, runtime: 1:17) that the government would like to see the law amendments passed by the House during the current legislative cycle due to the Constitutional Court ruling that requires amending the system.

Tags:

LAST NIGHT’S TALK SHOWS legislation

ALSO ON OUR RADAR

Egypt’s core inflation rises 1 pp to 10.4% in April

ECONOMY-

Core inflation bounces back up: Annual core inflation — which excludes volatile items like food and fuel — increased 1 percentage point in April from the month before to 10.4% y-o-y — up from March’s 9.4%, according to data from the central bank. On a monthly basis, core inflation stood at 1.2% last month, up from 0.9% the month before.

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

ICYMI- Annual headline urban inflation rose for the second month running in April to hit 13.9%, marking 0.3 percentage point increase from the 13.6% recorded in March. On a monthly basis, inflation eased by 0.3 percentage points to 1.3%.

LEGISLATION-

House gives final nod to fatwa regulation bill: The House of Representatives has given the final approval for a draft law designating the entities that are authorized to issue fatwas (religious edicts), according to a statement. The legislation sets a legal framework to ensure fatwas are consistent with Islamic law and the country’s existing legal system. The bill mandates that fatwas shared by the press must come from licensed specialists. The draft law received the green light from the cabinet in March.

REAL ESTATE-

Madinet Masr will earmark a share of its annual investments to support real estate development startups, without reliance on external investors for funding, according to a disclosure (pdf) to the EGX. “This move comes as part of the company's previously announced strategic direction since the launch of its innovation arm, Innovation Labs, which focuses on fostering innovation in the real estate development sector,” the disclosure read. The move also supports the company's “vision to keep pace with technological advancements and meet the evolving needs of new generations for innovative real estate products.” The exact amount and timeline for the investment was not disclosed.

AVIATION-

Gulf carriers land in Alamein: Saudia, Flynas, and Etihad will launch 17 weekly flights to El Alamein International Airport starting in June — their first direct routes to the North Coast city, Asharq Business reports, citing a government official. Saudia will operate six weekly flights from Riyadh and Jeddah, Flynas will run nine, and Etihad will fly twice weekly from July through mid-September. Flydubai will also ramp up its flights to Alamien to seven a week starting 21 June, up from just one last summer.

EDUCATION-

The Social Solidary Ministry is looking to increase nursery coverage for pre-school children in the country to 30% from 8%, Social Solidarity Minister Maya Morsy told Kelma Akhira’s Lamees El Hadidi (watch, runtime: 2:34). The ministry will offer state-owned spaces for the private sector and associations to establish nurseries, Morsy said. It also plans to simplify licensing requirements for nurseries, helping those unlicensed legalize their status. and will soon be out with the executive regulations for nurseries licensing.

EXPANSION-

Tabarak Holding is in talks with Saudi Arabia’s National Housing Company to acquire a 50-feddan land plot — either via purchase or partnership — for a new real estate project, Chairman Ali Al Shorbany told Al Arabiya. The company is also expanding its footprint in the Gulf with new offices to diversify its portfolio and tap into FX inflows, he added.

Back home, Tabarak plans to deliver some 500 hotel rooms this year in Greater Cairo, the North Coast, and Sinai, with investments exceeding USD 40 mn, he said.

We knew this was coming: Tabarak Holding signaled back in December that it was eyeing expansion into Europe and Saudi Arabia as part of a wider growth push.

TRANSPORT-

Homegrown ride-hailing platform Zed’s launched its services in Alexandria, with plans to expand nationwide within nine months, it said in a s tatem ent (pdf). The company aims to create 200k driver jobs and reach 2 mn users by the end of 2025, offering low commission rates, safety features like live trip monitoring and “Pink Mode” for female passengers, and flexible payment options including BNPL.

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ALSO ON OUR RADAR economy Education inflation transport

PLANET FINANCE

What are investors doing to hedge against fresh shocks?

After a bumpy April, markets are looking steadier, though derivatives strategists aren’t convinced the calm will hold, Bloomberg writes. Many believe the broader trend of low volatility will continue, thanks to consistent option-selling by income-generating ETFs — though brief intraday shocks like the one triggered by April’s tariff announcement are expected to remain part of the landscape.

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

Hedging in a two-speed market: With markets in this split state — largely stable but still prone to sudden jolts — investors are weighing two very different hedging approaches. Some are sticking with short-term trades that make money from sharp intraday swings, while others are shifting to longer-dated contracts in anticipation of a more drawn-out downturn. “While we can’t entirely rule out a sudden equity market shock, we expect a more gradual repricing driven by weaker forward guidance — in essence, a low-volatility bear market,” Antoine Bracq, head of advisory at Lighthouse Canton, told Bloomberg.

Traders are adjusting to the “Trump put”: Adding to the complexity is the growing view that future tariff-related headlines may carry less punch, given that US President Donald Trump has shown a tendency to soften his tone quickly when markets react negatively — particularly when the bond market starts flashing warning signs. Bracq says shorting futures might be the most effective hedge in theory, but timing such trades is tricky. “Because of this, we see a more practical approach in exploiting the current levels of implied volatility.”

Some hedge funds are turning to less traditional tools, like volatility knock-out (VKO) puts. These over-the-counter instruments provide protection against downward moves but expire worthless if realized volatility crosses a certain threshold. VKOs are around 40-50% cheaper than standard puts, but they offer little to no protection in the event of a panic-driven selloff.

MARKETS THIS MORNING-

Asian markets are all in the green in early trading this morning, following the news of a trade deal between the US and China. Japan’s Nikkei is up 0.2%, the Shanghai Composite is looking at gains of 0.8%, the Hang Seng is up 1.5%, and the Kospi is up 0.6%.

EGX30	31,428	-1.1% (YTD: +5.7%)
USD (CBE)	Buy 50.54	Sell 50.67
USD (CIB)	Buy 50.56	Sell 50.66
Interest rates (CBE)	25.00% deposit	26.00% lending
Tadawul	11,347	-0.2% (YTD: -5.7%)
ADX	9,626	-0.1% (YTD: +2.2%)
DFM	5,313	0.0% (YTD: +3.0%)
S&P 500	5,660	-0.1% (YTD: -3.8%)
FTSE 100	8,555	+0.3% (YTD: +4.7%)
Euro Stoxx 50	5,310	+0.4% (YTD: +8.5%)
Brent crude	USD 63.91	+1.7%
Natural gas (Nymex)	USD 3.80	+5.7%
Gold	USD 3,344	+1.2%
BTC	USD 104,154	+0.4% (YTD: +11.5%)
S&P Egypt Sovereign Bond Index	867.15	+0.1% (YTD: +11.5%)
S&P MENA Bond & Sukuk	143.41	-0.1% (YTD: +2.5%)
VIX (Volatility Index)	21.90	-2.6% (YTD: +26.2%)

THE CLOSING BELL-

The EGX30 fell 1.1% at yesterday’s close on turnover of EGP 3.2 bn (29.6% below the 90-day average). Foreign investors were the sole net sellers. The index is up 5.7% YTD.

In the green: Eipico (+2.8%), Alexandria Container and Cargo Handling Company (+1.8%), and Ibnsina Pharma (+1.8%).

In the red: Fawry (-4.1%), Egyptalum (-3.2%), and Orascom Development Egypt (-2.6%).

CORPORATE ACTIONS-

TMG will distribute a dividend of EGP 0.25 per share for its 2024 earnings, according to an EGX disclosure (pdf). Shareholders will receive the payout in two equal installments — on 29 May and 31 July.

Tags:

equities 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

What are Egypt’s plans to internationalize technical education?

Technical education is going international: The Education Ministry is working to enhance the standards of Egypt’s technical and vocational education system through international partnerships — especially Italy and Japan. The ministry aims to convert some 1.3k existing technical schools into international institutions.

Italy is stepping up: Some 50 Italian companies expressed interest in investing in Egypt’s education sector during a visit to Cairo last February. The visit saw both sides agree to explore the establishment of Italian-curriculum technical schools focused on the Italian language and practical training in industries such as automotive manufacturing, hospitality, finance, and IT – all aimed at preparing students for the global job market, especially to join Italian companies operating abroad.

REMEMBER- Egypt and Italy inked several agreements last year for cooperation on technical and vocational education, hospitality training programs, as well as SME support. Meanwhile, a government source recently told us that the government is still pursuing further collaborations with Italy among other countries to improve education in Egypt.

The bigger picture: Technical education is part of a broader strategy to align learning outcomes with labor market needs, a government source told EnterpriseAM, adding that the ministry is holding talks with the private industrial sector to support the establishment of specialized international technical schools and repurpose existing school buildings with private sector involvement, using international curricula and practices to boost demand for technical education in Egypt.

Japan and Germany are no strangers to Egypt’s tech education: Japan is already a long-time partner in Egypt’s technical education, and Germany has been providing curriculum support through its competency-based learning model — which is now being applied in 85% of Egypt’s German-acceredited vocational schools.

More vocational schools in the works: The Education Ministry wants to open nine new vocational schools in partnership with Egyptian business leaders, the source told us. The goal is to replicate successful models while allowing the private sector to play a bigger role in both funding and curriculum development.

Curriculum updates are also underway: The ministry has approved 100 new curricula for applied tech schools and is working on another 20 focused on fields including AI, automation, and other emerging technologies.

What’s next? The government wants to raise the number of applied tech schools to 420 by 2030 to accommodate some 130k students by the end of the decade, up from 40k students enrolled during the 2024-2025 academic year.

Private sector demand is on the rise: There is growing interest among private players in offering services through tuition-based schools. Demand for technical education now accounts for over 50% of preparatory school graduates, the source said. The ultimate goal is to establish economic entities that link education with the manufacturing sectors through internationally accredited curricula.

Egypt is stepping up its game: The government has allocated EGP 1 tn for education in the FY 2025-26 draft budget, with EGP 684.8 bn for pre-university education and EGP 358.3 bn for higher education.

We’re doing something right: The country is climbing up the ranks, with its ranking in the Global Knowledge Index’ technical and vocational education and education sub-index rising to 43rd place, up from 46th in 2022, and 113th in 2013.

Why does this matter? There is a shortage of skilled labor in Egypt, which is why integrating technical education into the country’s industrial development strategy is significant, curriculum and methods of teaching professor at Ain Shams University Hassan Shehata told EnterpriseAM. This shift is helping change perceptions of technical education, making it a more attractive option across the governorates by creating pathways to university and promising job prospects. Opening the sector to international players will accelerate the implementation of Egypt’s youth training goals and expansion of global partnerships.

Cost-related factors remain a hurdle: A major obstacle for private investment is the relatively high cost per student, especially due to the hands-on nature of technical education and rising material costs, a representative from an applied technology school told EnterpriseAM. Students must attend in person and require access to specialized equipment and machinery, raising the cost significantly. The average cost per student in advanced technical education is now EGP 30k, up from EGP 18k. To address this, the government is offering various partnership models to encourage private sector participation.

More expansion plans in the pipeline: The government has plans to build 536 new classrooms for technical education, renovate 902 existing classrooms, upgrade 126 technical schools, and establish 10 new applied technology schools.

Your top education story for the week: The Oil Ministry, Methanex Egypt, and AUC are partnering to launch Egypt’s first Process Safety Management diploma, aimed at upskilling workers in the oil, gas, and petrochemical sectors.

Tags:

Blackboard Education Education Ministry Vocational education

CALENDAR

MAY

13-14 May (Tuesday-Wednesday): Egypt Facility Management Forum, Cairo, Egypt.

18 May (Sunday): Aqarmap’s Egyptian-Saudi real estate summit, at the Nile Ritz-Carlton.

18-19 May (Sunday-Monday): International Monetary Fund MENA Research Conference, Cairo, Egypt

18-20 May (Sunday-Tuesday): First Arab International Exhibition for Sustainable Development

22 May (Thursday): Central Bank’s Monetary Policy Committee to meet to decide interest rates

25 May (Sunday): Social Education Summit 2025, Cairo, Egypt

30-31 May (Friday-Saturday): Africa Business Summit, London, UK

Egyptian Exporters Association (Expolink) exhibition, Italy

Egyptian-Russian Business Forum

May 2025: Egypt-Singapore Business Forum, Cairo

May 2025: Egyptian-US Investment Forum

JUNE

2-4 June (Monday-Wednesday): Manufacturing and packaging forum ProPak MENA and Fi Africa 2025, Egypt International Exhibition Centre.

3 June (Tuesday): S&P Global to release PMI data for May recording non-oil private sector activity

10 June (Tuesday): Capmas expected to publish inflation data for May

MPs approveextension of tax dispute resolution window until 30 June 2025, with potential for further extension

Coficab to complete its USD 88 mn automotive cable and electrical factory in Tenth of Ramadan City

Realme to open smartphone factory

IFC President Makhtar Diop to visit Egypt

JULY

10 July 2025 (Thursday): Monetary Policy Committee’s fourth meeting

15-16 July 2025 (Tuesday-Wednesday): Egypt Mining Forum

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

Etihad Airways to launch twice-weekly flights to Alamein

AUGUST

28 August 2025 (Thursday): Monetary Policy Committee’s fifth meeting.

Tourism Development Authority to waive late payment penalties for land purchases if full installments are paid

SEPTEMBER

Egypt Education Platform (EEP) to launch two new schools in Alexandria and Somabay

Egypt Otsuka’s nutritional products factory in Tenth of Ramadan to begin operations, with exports to Gulf countries expected by January 2026

OCTOBER

2 October 2025 (Thursday): Monetary Policy Committee’s sixth meeting.

NOVEMBER

20 November 2025 (Thursday): Monetary Policy Committee’s seventh meeting.

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

DECEMBER

1-4 December: Egypt Defence Expo (EDEX), Egypt International Exhibition Centre.

25 December: (Thursday): Monetary Policy Committee’s eighth meeting.

EVENTS WITH NO SET DATE

1Q 2025: The Egyptian-Italian business forum

1Q 2025: Investment Minister Hassan El Khatib to visit Italy

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

1Q 2025: Finance Ministry to launch public consultations on its tax policy document

Mid-2025: EGX launches sustainability index.

2Q 2025: Financial Regulatory Authority (FRA) to introduce derivatives on the EGX

2Q 2025: Safaga Terminal 2 to start operations

1H 2025: EGX launches a sharia-compliant sustainability index.

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

1H 2025: The Egyptian-US Investment Forum.

1H 2025: The Egyptian Mineral Resources Authority will relaunch a global tender for gold exploration through Shalateen Mineral Resources company.

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

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

2025: The InterAcademy Partnership assembly

2025: Nile Basin States Summit, Cairo, Egypt

2025: Release of the government’s Startup Charter document

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

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

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.

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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