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Tuesday, 3 Feb 2026

What We’re Tracking Today
The Big Story Today
Utilities
Energy
A Message From Sekem
Fintech
Moves
Also On Our Radar
Planet Finance
Going Green
Calendar

Gov’t moves to fix customs distortions favoring foreign goods and penalizing local manufacturers

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Today at a glance

1

Customs

Customs overhaul aims to fix lopsided duties favoring finished imports.
2

UTILITIES

Elsewedy Electric’s Iskraemeco pumps USD 20 mn into stopping Egypt’s water from going down the drain.
3

Energy

Egypt leans on toll-booth gas hub model as it navigates gas shortfall.
4

WHAT WE’RE TRACKING TODAY

Can GAFI’s unified investment licensing platform live up to promise of killing government red tape?
5

WHAT WE’RE TRACKING TODAY

Egypt takes the chair as UN moves to challenge OECD tax dominance.
6

ALSO ON OUR RADAR

Aman exports Egyptian fintech expertise to Saudi with new JV,
7

PLANET FINANCE

BMI’s four scenarios for USD.
8

BACK

National Narrative for Comprehensive Development puts the green in the green economy.

Tuesday, 3 Feb 2026

What We’re Tracking Today
The Big Story Today
Utilities
Energy
A Message From Sekem
Fintech
Moves
Also On Our Radar
Planet Finance
Going Green
Calendar
1

WHAT WE’RE TRACKING TODAY

The 20-day license promise enters its final test

Good morning, folks, and a happy hump day to you all. We bring you an unusually government-focussed issue today, with several in-the-works initiatives and future targets to address some of the issues facing the country catching our attention.

In today’s issue, we dive into a major customs overhaul to stop penalizing local manufacturers, how the government’s new National Narrative for Comprehensive Development is trying to put the green(back) in the green economy, Egypt redefining its regional gas hub strategy and much, much more.

***

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

Watch this space

INVESTMENT — The General Authority for Investment and Freezones is ramping up the full-scale operation of its unified investment licensing platform, a move intended to be the final nail in the coffin for the multiple-window red tape that has long plagued the local business environment. Following a pilot phase that began in mid-2025, the platform has now moved into a broader rollout as the state’s primary interface for securing operational approvals, according to an authority statement.

Gone are the days of having to trudge from ministry or authority building to another to get a project over the line — they say — with the portal centralizing inputs from 41 different government entities into a single online gateway. The platform is designed to act as a unified digital window for 460 different services, including the various licenses, approvals, and permits required to launch and operate economic activities.

The authority is also doubling down on a reduced turnaround time, committing to issuing final licenses within a maximum of 20 business days, provided all necessary documentation is correctly submitted.

Why it matters: The often overwhelming maze of government institutions, red tape, and delays have been flagged as one of the main frustrations of investors — both foreign and local — for as far we can remember. If the platform really can enforce a 20-day turnaround across 41 separate bureaucracies and work as it should, the improvement to the ease of doing business could have a significant impact on investment flows.

What’s next? Investors will be eager to see if the platform can really offer what it promises. Getting 41 government entities to all work together effectively and efficiently to meet a 20-day turn around will be no easy feat, and there’s always the risk that minor documentation correction requests and other tactics by government clerks may spring up as a way to get around the 20-day deadline.

TAX — Egypt takes the chair as UN moves to challenge OECD tax dominance. Assistant Tax Minister for Tax Policy Ramy Youssef is in New York to chair the UN committee tasked with drafting a new framework convention on international tax cooperation. The committee has until July 2027 to deliver a final treaty to the body’s General Assembly.

Why this matters: For years, the OECD has set the global tax agenda, but developing nations — led by the Africa group — successfully lobbied to move the conversation to the UN. By chairing this committee, Egypt is positioning itself at the center of an effort to rewrite rules on taxing rights. The new UN framework could give countries like Egypt more power to tax the earnings of digital giants and multinationals based on where their customers are, rather than where the company is headquartered.

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Happening today

The private sector is eagerly awaiting S&P Global’s Purchasing Managers’ Index report for January, due out later this morning, amid hopes that non-oil activity will remain in the green for the third straight month.

Our stint in the green has been a nice change of pace, as the country has only managed to do this four times since November 2020.

The annual Capital Markets Summit begins today, kicking off under the theme Financial Technology: The Path to Investment Inclusion. Some big names from the private and public sectors will be in attendance for the one-day event, including Finance Minister Ahmed Kouchouk, Beltone’s Khalil El Bawab, CI Capital’s Mahmoud Khalifa, EGX’s Islam Aazam, Thndr’s Ahmed Hammouda, and Contact Financial Holding’s John Saad.

Data point

53% — that’s the private sector’s share in national investments during the previous fiscal year, outpacing public spending in the national investment mix and marking the private sector’s highest share in five years, according to the Planning and International Cooperation’s annual report entitled Jobs, Growth and Resilience: Delivering for a Future-Ready Egypt (pdf).

PSA-

WEATHER- It’s set to be a hazy day in Cairo today, with a high of 22°C and a low of 12°C, according to our favorite weather app.

It’s much the same in Alexandria, with a high of 20°C and a low of 10°C.

The big story abroad

Elon Musk is merging SpaceX with xAI, creating a USD 1.25 tn venture, people in the know told Bloomberg. The move sets the stage for Musk to carry out his plan of setting up data centers in the planet’s orbit — he claims that that space will be the cheapest place for AI computing in two to three years. Properties formerly owned by xAI — Grok chatbot and X.com — now fall under SpaceX’s umbrella.

The world’s richest man still intends to take SpaceX public this year, in an IPO that could see the company raise as much as USD 50 bn, a source told Bloomberg.

AND- Our usual dose of global trade updates: US President Donald Trump has agreed to trim punitive tariffs on India on the condition that New Delhi stops buying Russian oil, reducing the levies from 25% to 18%. India will slash its levies on Washington down to zero. After a phone call with Indian Prime Minister Narendra Modi, Trump said New Delhi has agreed to buy more oil from Venezuela as well as upwards of USD 500 bn in US energy and other products.

Software giant Oracle has raised USD 25 bn in a blockbuster bond offering, attracting an orderbook of USD 127 bn at its peak, the Financial Times reports, citing people it says are familiar with the transaction. The funding came through amid concerns that Oracle was striking up an unsustainable level of debt to back its AI spending.

*** It’s Going Green day — your weekly briefing of all things green in Egypt: EnterpriseAM’s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.

In today’s issue: We take a look at how the National Narrative for Comprehensive Development recasts green targets as a tool for economic growth, not just as an environmental responsibility.

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From elite performance to community-driven experiences, we continue to shape environments where sport goes beyond competition. Creating moments that inspire, connect, and endure at Somabay.

2

The Big Story Today

FinMin eyes 150 customs items for overhaul to protect local industry

The Finance Ministry is weighing requests from some 80 companies to slash customs tariffs on 150 production inputs, three government sources tell EnterpriseAM. The proposed adjustments aim to bolster strategic sectors, including chemicals, home appliances, textiles, automotive glass, sheet metal, and the renewable energy industry.

Tariffs on new categories of production inputs could drop by 10-30%, bringing the effective rate down to a range of 2-5%, we were told. Conversely, tariffs on select imported finished products could climb as high as 60% to provide a competitive edge to local manufacturers.

The primary goal of the new tariff structure is to correct customs distortions where taxes on raw materials sometimes exceed those on finished goods. “We have received numerous complaints from manufacturers regarding customs distortions, where duties on final products are lower than those on production inputs,” one of our sources told us. “This increases production costs and makes it difficult for local products to compete in foreign markets if the status quo remains.”

Why this matters: The potential overhaul aligns with the Madbouly government’s target to raise the industrial sector’s contribution to GDP from 14% to 20% by 2030. To double the industrial workforce to 7 mn and increase the share of green industries, the state is shifting toward more aggressive protectionist policies that favor local production over finished imports.

Officials told us they expect no negative impact on total customs revenue, as the lower rates on inputs will be offset by the higher brackets applied to imported final goods.

What’s next? Beyond the tariff changes, the ministry is preparing to refer legislative amendments for three customs laws to the House. The package includes 29 measures designed to slash customs clearance times, including allowing the installment of customs duties for the first time, accepting both cash and non-cash guarantees and overhauling the temporary admission system by increasing allowed waste percentages.

AND- The ministry is also considering a proposal from the pharma industry to exempt 18 goods and services from VAT to level the playing field for local pharma manufacturers, a senior government source told EnterpriseAM. Currently, finished imported drugs enter Egypt VAT-free, while local producers pay 14% VAT on essential inputs like raw materials, lab testing, and specialized shipping.

“Why would a company manufacture in Egypt when an imported drug from the UK is fully exempt, while local inputs and safety testing services are subject to 14% VAT?” Egyptian Chambers of Commerce’s pharma division head Ali Auf told EnterpriseAM. Because meds prices are capped by the government, manufacturers can’t hike prices to recoup that 14% VAT., Auf explained.

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3

UTILITIES

Elsewedy Electric’s Iskraemeco looks to invest USD 20 mn into solving Egypt’s water leakage problem

El Sewedy Electric’s energy and water management solutions arm Iskraemeco plans to invest USD 10-20 mn over the next two years to double its share of Egypt’s national water projects, Managing Director Mostafa Ashour told EnterpriseAM. The company is targeting a 40% market share by 2026 by expanding production lines for smart meters and Internet of Things (IoT) systems.

Why this matters: As Egypt works to expand its desalination capacity and towards the private-sector management of water utilities, water leakage and theft — known in the business as non-revenue water — will become an increasingly important concern. Ashour tells us their tech can cut these losses by 20-30% within a year, presenting an attractive cost-recovery strategy to businesses that use water and the companies that provide it.

To hedge against rising import costs, the company has pushed local component integration to 30–50%. This localization allowed them to absorb price spikes without passing the full weight onto government contracts, we were told.

Iskraemeco is also following the capital into Saudi Arabia and the UAE, where it is currently bidding on tenders. In African markets, it uses a buy now, pay later model and phased extension to bypass the budget constraints of partners.

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4

Energy

Egypt leans on toll-booth gas hub model as it navigates gas shortfall

Egypt is formalizing a strategic shift in the role it wants to play as a regional energy hub, prioritizing its position as an infrastructure middleman to navigate a structural shortfall in domestic production. At the most recent AmCham monthly luncheon attended by EnterpriseAM, Oil Minister Karim Badawi acknowledged the “confusing” reality of Egypt simultaneously importing and exporting gas, framing the paradox as a deliberate “ecosystem” play.

Previously, the regional gas hub plan had been presented as a way to monetize the country’s unrealized massive offshore reserves, spurred by the hype surrounding the Zohr field. But in contrast to the initial optimism, domestic production has since stagnated — a decline Badawi links to USD 5 bn in arrears the ministry is now making a priority to settle — prompting a reimagining of Egypt’s role as an energy hub. The hub is no longer about selling surplus Egyptian gas — but hopefully, this will come later — it’s about being the middleman to manage flows within the region and to re-export further afield.

Why this matters: With domestic gas supply still tight, this anchors the gas hub narrative in infrastructure rather than domestic production. Egypt doesn’t need surplus gas to sell the hub story. In the minister’s framing, the hub status is defined by infrastructure capacity and routing capability. Egypt is one of the few players in the region that has both liquefaction and regasification terminals.

We’ve built the capability to move gas in multiple directions, Badawi pointed out, citing our floating storage and regasification units with a combined capacity of around 2.8 bcf/d, alongside pipeline gas inflows from Israel of about 1 bcf/d. That optionality, he said, allows Egypt to meet domestic demand while honoring export and contractual commitments.

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5

A MESSAGE FROM SEKEM

Industry meets education: how Heliopolis University is shaping the future of job market

At Heliopolis University (HU), the higher education and research arm of SEKEM, the journey from the lecture hall to the professional world is not a leap, but a seamless transition. By breaking away from the traditional “ivory-tower” academia model, HU has built a living ecosystem where students don’t just study the industry, they actively participate in it.

The impact of this approach is most visible in the university’s Industry-Based Education framework. Instead of relying solely on exams, students spend up to three months in partner organizations, where their evaluation is tied to real performance, real responsibilities, and real vacancy requirements. This immersion is deepened through HU’s Executive Classroom model, where senior managers and field experts step in as guest lecturers, ensuring every course remains anchored in current market realities.

This ecosystem creates a continuous loop of innovation. When students approach their graduation projects, they aren’t solving hypothetical scenarios; they are addressing genuine operational bottlenecks for HU’s industry partners. Many of these creative solutions move beyond the classroom, receiving funding, and transforming student research into tangible corporate assets.

As the global economy pivots toward green and regenerative growth, HU’s impact extends even further. Through its specialized Sustainable Development Management programs and corporate sustainability reporting services, the university provides organizations with the skills and knowledge needed to thrive in a climate-conscious economy.

Ultimately, Heliopolis University demonstrates that when education is built around real-world impact, students graduate not just with a degree, but with the proven ability to lead Egypt’s sustainable industrial future.

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6

Fintech

CBE greenlights full rollout of soft POS, turning smartphones into payment terminals

The Central Bank of Egypt has officially launched its regulatory framework for software point-of-sale (soft POS) devices, allowing merchants to turn any NFC-enabled smartphone or tablet into a payment terminal, the CBE said in a statement (pdf). The move follows a two-year pilot phase that had restricted contactless payment transactions to EGP 600; that limit has now been lifted, allowing soft POSes to function par with dedicated hardware terminals.

How it works: Vendors download a dedicated application on an NFC-enabled smartphone or tablet. That allows them to accept contactless payments from cards and digital wallets. To complete a transaction, a customer taps their card against the merchant’s smartphone; for larger amounts, they enter their PIN directly on the device’s screen using internationally accredited “PIN on glass” security standards.

There are already applications in place, such as Tap to Phone offered by our friends at Visa, who also provide certification services for third-party payment service providers. Local fintech giant Fawry also announced in late 2024 a fully in-house developed soft POS solution called Tap N Pay.

The state of the market: Uptake of soft POSes wasn’t phenomenal during the pilot phase — merchants could only run EGP 600 transactions through the app. That barrier is now gone.

The death of the machine? Traditional POS terminals are expensive bottlenecks, with their cost usually covered by payment service providers (PSP) with a contribution from the merchants. For PSPs, the full rollout of the CBE’s soft POS framework should be massive scaling play, as onboarding a merchant no longer requires a physical logistics chain — just an app download.

Why it matters

“This progressive regulatory framework paves the way for a truly mobile-first economy,” Visa country manager for Egypt Malak El Baba told EnterpriseAM. The official rollout of soft POS applications aims to accelerate Egypt’s transition to a less-cash society, making it easier for small and micro-enterprises to join the formal digital economy. The move will give SMEs, delivery fleets, and retailers zero-cost entry point into the formal economy, bringing a greater share of everyday transactions into the formal banking system.

How it used to work for SMEs: Under the simplified tax framework for small businesses, the Tax Authority had allowed SMEs to apply to receive a POS machine at no charge, on the condition that they join the e-receipt system and commit to using it and issuing real-time e-receipts.

By the numbers

The number of electronic POS terminals rose sharply last year, reaching around 1.6 mn devices, deputy assistant governor of the CBE Ehab Nasr told EnterpriseAM. The rollout, alongside the expansion of electronic payments, is part of a plan to promote digital payment adoption among companies and merchants across Egypt. Cashless transactions in Egypt grew 45% y-o-y by the end of 2025, Nasr said, while the cost of accepting cash remains around 1.3-3.0% per transaction in Middle East and Africa markets, according to a study conducted by BCG last year.

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7

Moves

ADSERO-Ragy Soliman & Partners taps Rehan El Bashary as partner and head of VC and startups

ADSERO-Ragy Soliman & Partners appointed Rehan El Bashary (LinkedIn) as partner and head of venture capital and startups, according to a statement (pdf) from the law firm. El Bashary is a transactional lawyer with over 16 years of experience in venture capital and tech-driven transactions. She most recently served as partner and head of venture capital and startups at Shahid Law Firm and as corporate affairs manager at Gemini Holding before that.

What they said: “Rehan’s arrival further strengthens ADSERO’s capabilities in venture capital and high-growth company work. Her experience advising founders and investors, combined with her strong understanding of the regional technology ecosystem, aligns closely with our strategic priorities and our clients’ needs,” Managing Partner Ragy Soliman said.

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8

ALSO ON OUR RADAR

Raya Holding’s Aman exports Egyptian fintech expertise to Saudi with new JV

Aman takes one step closer to realizing Saudi expansion plans

Aman Holding secured preliminary approval from the Saudi Central Bank to establish a consumer finance company in the Kingdom, parent company Raya Holding said in an EGX disclosure (pdf). The planned company will be set up as a JV under an MoU with Saudi retail and wholesale giant Jarir, which will hold a 49% stake. Aman will control 40%, with the remaining interest held by Hamad Bin Abdullah Bin Sulaiman Al Manea & Partners Trading Company, a Saudi closed joint stock firm.

Why it matters: The move — which builds on plans that came to light in April — is a strategic play to export Egyptian fintech expertise to the GCC. By partnering with Jarir, Aman will get its hands on a sizable consumer base without the cost and time needed to independently acquire customers.

What’s next? Don’t expect Raya’s newest venture into the Kingdom to open its doors tomorrow, as the company was careful to note that the central bank’s preliminary approval “does not constitute a license or authorization to commence financing activities.”

Masria Digital Payments rebrands as Modupay

MDP is now Modupay: Payment cards manufacturer Masria Digital Payments (MDP) has rebranded to Modupay, positioning itself as an integrated platform serving banks and fintech players across the Middle East and Africa, Co-Founder and CEO Ahmed Nafie said during a presser attended by EnterpriseAM yesterday. The new corporate identity comes in line with the company’s plan to expand within and beyond the Egyptian market.

Looking ahead: Modupay plans to set up a USD 10 mn payment card production facility in 10th of Ramadan before the end of 2026 in a bid to double annual production to 60-70 mn cards, Nafie said. Modupay is targeting the East African market with plans for a new plant to serve Kenya and Tanzania. The move will complement the firm’s existing facility in Ghana, which currently services the West African market.

The company wants to step into Eastern Europe and Latin America within two years, Nafie told EnterpriseAM, adding that at the moment the main focus is on expanding across Africa.

FRA extends deadline for ins. brokers to raise their minimum capital by six months

Ins. and reins. brokerage firms must now raise their capital to atleast EGP 5 mn by June 2026, according to a statement from the Financial Regulatory Authority (FRA). Risk assessment firms, loss adjustment and surveying firms, ins. consultancy firms, and actuarial firms are required to increase their minimum capital to EGP 3 mn by the same date. The affected firms are obligated to submit timetables outlining the stages of their capital increase within one month.

ALSO- The FRA raised the maximum financing limit for microenterprises to EGP 292k, up 8.9% from EGP 266k, according to a separate statement from the authority. In addition, the authority increased the maximum ins. coverage for micro ins. companies to EGP 390k, up from a previous EGP 312.5k, marking a 24.8% increase.

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9

PLANET FINANCE

The greenback at a crossroads with four scenarios to watch, BMI

It’s been a volatile week for the greenback, underscoring how fragile investor sentiment remains. Fitch Solutions’ research unit BMI is charting four scenarios for the USD as multiple forces shape its course over the coming months.

IN CONTEXT- A sharp slide last week has kept investors on edge even after the FederalReserve’s decision to hold interest rates steady, reviving concerns that the USD could be drifting toward a broader decline reminiscent of early 2025. A rebound followed on Friday on news that US President Donald Trump is nominating a new Fed governor, with the gains steadying through Monday.

The scenarios

#1- In a bearish “sell America” scenario, BMI says doubts over fiscal discipline, sticky inflation, and the perceived erosion of Fed independence could drive investors away from US assets, pushing the greenback index toward the mid‑to‑high 80s. This decline could become self‑reinforcing if investors grow more concerned and begin to hedge or cut exposure to US assets more aggressively, according to BMI.

#2- The opposite outcome remains possible: A resurgence of global risk aversion — triggered by geopolitical shocks or emerging‑market stress — could quickly restore the USD’s safe‑haven appeal, lifting the currency back toward the 100-105 range as capital flows into US Treasuries.

#3- A bring-on-the-risk scenario assumes a shift toward global risk appetite, where more global players are emboldened by the US’ economic growth and higher commodity prices boost capital inflows. In this environment, stronger global growth, coupled with more aggressive currency policies in China and Japan, could weaken the USD index by around 5% to the 90-95 range, even as US assets benefit from larger repatriated income.

#4- Index through the roof? Strong US growth, coupled with increased FDI inflows from trade agreements and narrowing trade deficits, could push the greenback index into the 100-110 range. This outcome would likely heighten volatility for emerging market currencies as capital is pulled back toward the US.

What’s next?

For now, investors are reassessing their next move. With the Fed signaling patience rather than urgency, attention is shifting from rate cuts to policy credibility and political pressure. Any renewed doubts over central bank independence could weigh further on the USD. An intervention by Japan in the currency market could also put downward pressure.

MARKETS THIS MORNING-

After a turbulent start to the week, markets are rebounding thanks to a jump in US factory activity and the initial shock after Trump unveiled his Fed chair nominee fading. Asia-Pacific markets are mostly in the green in early trading this morning, led by South Korea’s Kospi.

EGX30

47,606

-0.1% (YTD: +13.8%)

USD (CBE)

Buy 47.10

Sell 47.15

USD (CIB)

Buy 47.04

Sell 47.14

Interest rates (CBE)

20.00% deposit

21.00% lending

Tadawul

11,321

+1.4% (YTD: +7.9%)

ADX

10,338

+0.6% (YTD: +3.5%)

DFM

6,573

+2.1% (YTD: +8.7%)

S&P 500

6,976

+0.5% (YTD: +1.9%)

FTSE 100

10,342

+1.2% (YTD: +4.1%)

Euro Stoxx 50

6,008

+1.0% (YTD: +3.7%)

Brent crude

USD 66.30

-4.3%

Natural gas (Nymex)

USD 3.23

-0.3%

Gold

USD 4,774

+2.6%

BTC

USD 78,850

+2.5% (YTD: -10.1%)

S&P Egypt Sovereign Bond Index

1,013

+0.1% (YTD: +2.0%)

S&P MENA Bond & Sukuk

151.48

-0.1% (YTD: -0.3%)

VIX (Volatility Index)

USD 16.34

-6.3% (YTD: +10.0%)

THE CLOSING BELL-

The EGX30 fell 0.1% at yesterday’s close on turnover of EGP 7.2 bn (28.8% above the 90-day average). Regional investors were the sole net sellers. The index is up 13.8% YTD.

In the green: Eastern Company (+4.8%), Orascom Holding (+4.0%), and Orascom Construction (+3.6%).

In the red: Edita (-3.6%), Egypt Aluminum (-3.2%), and ADIB (-1.7%).

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Our weekly deep dive into the green economy and ESG issue in Egypt.

Published every Tuesday in EnterpriseAM.

Read going Green
10

Going Green

National Narrative for Comprehensive Development recasts green targets as a tool for economic growth, not just as an environmental responsibility

Going green is no longer just a matter of compliance. In the newly released second edition of the National Narrative for Comprehensive Development (pdf), the government’s 2030 green economy strategy cements the state’s move toward viewing the green transition as a key pillar in the country’s economic development and efforts to protect export markets. The green economy is no longer about the state building solar parks or meeting this and that UN target — it’s about an industrial strategy and a national plan that is just as much about the economy as it is about the environment.

For the past decade, the focus in government statements has been on capacity. The state consistently highlighted the launch of large-scale solar projects and the signing of wind farm agreements for wind farms while signaling its ambition in the not-so-distant future to become a green energy hub. While these aims have not been abandoned, the national green agenda is now focusing on the more immediate concern of protecting trade from mechanisms like the EU’s Carbon Border Adjustment Mechanism (CBAM).

Enter the Green Complexity Potential Index

The narrative introduces a development metric called the Green Complexity Potential Index, which measures the country’s ability to produce products that are both green and technologically advanced. The approach moves beyond just protecting existing exports from carbon tariffs and looks to meet the types of products now being demanded by other countries as they too undergo a green transition.

Instead of just focusing on the export of raw renewable energy, we’re looking to export products made using that same source of energy. The report highlights green chemicals and green plastics as high-potential sectors that can repurpose existing industrial infrastructure, along with low-carbon industrial goods like steel and cement, to bypass carbon tariffs imposed on exports.

Despite difficulty getting projects off the ground, green ammonia and green hydrogen are also signalled as primary export products, with the narrative laying out a target of garnering 5-8% of the global market by the end of the decade.

The narrative also seeks to insert the country into new value chains created by the global green push, including actually producing parts used in EVs and EV charging units instead of just assembling vehicles. The move toward this and also the domestic production of solar components won’t be news to regular readers of EnterpriseAM, but some of you may have missed last week’s news reported by us that Chinese heavy equipment manufacturer Sany Group is planning to establish Egypt’s first wind turbine factory.

Giving industries a helping hand to prepare for CBAM

Decarbonizing an industry isn’t easy — and it certainly isn’t cheap. To help the country’s energy-intensive industries targeted by carbon border mechanisms, the narrative lays out a plan to provide fast-track customs and VAT exemptions for industrial equipment that reduces emissions. The narrative also points to a USD 200 mn+ facility to support private sector industrial decarbonization, which will be backed by international partners.

Refuse-derived fuels are also set to play a role, with heavy industries to be pushed to switch from coal and natural gas to the less polluting alternative.

Formalizing green credentials

One of the most important takeaways for the business community is the planned move away from voluntary ESG reporting toward mandatory structural changes. Upcoming amendments to the Companies Law will recognize renewable energy certificates and certificates of origin as formal financial instruments.

By formalizing these certificates, the state is creating a marketplace where companies that over-achieve on carbon targets can sell credits to those that don’t. For exporters, these certificates will serve as the primary proof of their green credentials to bypass carbon border taxes in the EU and elsewhere.

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CALENDAR

2026

FEBRUARY

3 February (Tuesday): S&P Global to release PMI figures for January.

3 February (Tuesday): Capital Markets Summit.

5-7 February (Thursday-Saturday): RiseUp Summit.

10 February (Tuesday): Capmas expected to release inflation data for January.

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

12 February (Thursday): Monetary Policy Committee’s first meeting of 2026.

19 February (Thursday): First day of Ramadan (TBC).

MARCH

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

21 March: (Saturday): Eid El Fitr starts (TBC).

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

APRIL

2 April (Thursday): Monetary Policy Committee’s second meeting of 2026.

12 April (Sunday): Coptic Easter.

25 April (Saturday): Sinai Liberation Day.

MAY

1 May (Friday): Labor Day.

21 May (Thursday): Monetary Policy Committee’s third meeting of 2026.

27-29 May (Wednesday-Friday): Eid El Adha (TBC).

JUNE:

30 June (Tuesday): National holiday in observance of June 30 Revolution (TBC).

JULY

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

23 July (Thursday): National holiday in observance of Revolution Day (TBC).

AUGUST

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

26 August (Wednesday): National holiday in observance of Prophet Muhammad’s birthday (TBC).

SEPTEMBER

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

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

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

OCTOBER

6 October (Tuesday): Armed Forces Day.

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

DECEMBER

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

EVENTS WITH NO SET DATE

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

Early 2026: The government will launch the second package of tax breaks.

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

1Q 2026: Turkish President Tayyip Erdogan to visit Egypt

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

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.

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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