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Hassan Abdalla is spending another year as CBE governor

1

What We're Tracking Today

We could soon hear news about a new Ras Shukeir project courtesy of a Gulf sovereign fund

Good morning, friends. We have a light issue for you this morning led by tax news as we look into how the Finance Ministry plans to implement the new VAT on crude oil. We also bring you a little bit of debt news with Beltone Mortgage closing its first securitization issuance.

AND- We finally know who will be at the helm of the central bank for the coming year. El Sisi decided to reappoint CBE governor Hassan Abdalla, extending his tenure for another year. While there has been some speculation over whether he will seek reappointment, him staying at the helm sends a message of continuity to foreign investors.

PSA-

WEATHER- It’s another warm day in Cairo, with a high of 37°C and a low of 27°C, according to our favorite weather app.

It’s a little cooler in Alexandria, with a high of 32°C and a low of 24°C.

WATCH THIS SPACE-

#1- A Gulf sovereign fund is set to announce a new Ras Shukeirproject that will focus on infrastructure and energy development, according to a Finance Ministry report seen by EnterpriseAM. Geopolitical tensions in the region had delayed the finalization of the project agreement initially planned for the end of the previous fiscal year, but negotiations are expected to conclude shortly, a government source told EnterpriseAM.

You heard it here first: Government sources had told EnterpriseAM back in June that the government is gearing up to announce a new Ras Shukeir project involving one of the Gulf’s sovereign wealth funds.

REMEMBER- The agreement — the first in a series linked to the 174 sq km Ras Shukeir zone on the Red Sea — will back local sovereign sukuk issued by the Finance Ministry, with proceeds earmarked for reducing public debt.


#2- The Arab Association for Electric Vehicles has sent an urgent petition (pdf) to the Industry Ministry asking it to delay the ban on GB/T-compatible EV imports until the end of 2025. The letter, signed on behalf of traders and importers, warned that the decision could harm both local businesses and their customers. This comes after the Egyptian Customs Authority began enforcing new technical requirements for electric vehicle imports, requiring documentation that proves compatibility with the European-standard CCS2 charging protocol.

REMEMBER-A government source told EnterpriseAM earlier this month that the Madbouly cabinet was gearing up to restrict imports of Chinese-made EVs so that only officially licensed agents are able to get their hands on them. The move follows the Egyptian Electric Utility and Consumer Protection Regulatory Agency mandating all public charging stations shift to CCS2 back in April.

DIPLOMACY-

Egypt is open to the temporary deployment of international forces in Gaza as part of a political process toward statehood, Foreign Minister Badr Abdelatty told Al Arabiya. He did not rule out the temporary deployment of Egyptian forces under a resolution that ensures the establishment of a Palestinian state.

This comes as Hamas agrees to a Egypt and Qatar-brokered truce: Hamas has agreed to a 60-day ceasefire proposal put forward by Egypt and Qatar, raising hopes that a long-awaited breakthrough in negotiations could be upon us, according to Reuters and Bloomberg. The plan would see Hamas release half of the Israeli hostages it still holds in exchange for Palestinian prisoners and a partial Israeli troop withdrawal. Israel is yet to respond to the terms of the ceasefire. Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani was in Cairo yesterday where he met with President Abdel Fattah El Sisi and Hamas representatives to discuss the truce.

This has been in the works for a while: Egypt has been in talks with Qatar and the US to secure a 60-day truce in Gaza for some time now.

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

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CIRCLE YOUR CALENDAR-

The Food Export Council is sending a delegation to Côte d’Ivoire this month to help Egyptian companies get a stronger foothold in African markets, deputy executive director Tameem Eldawy told Al Borsa. The delegation will study the Ivorian market’s needs — from product types, sizes, and price points to the main competitors. It will also meet with major importers, government entities, business associations, and chambers of commerce.

REMEMBER- This comes just days after more than 60 Egyptian companies spanning multiple sectors said they plan to establish a joint marketing company in Ghana to ramp up exports there. The moves reflect a broader push by Egyptian businesses to deepen their footprint in African markets.

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

THE BIG STORY ABROAD-

The international press is focused on exactly two stories this morning: SoftBank investing in Intel, and US President Donald Trump’s meeting with Ukraine’s Volodymyr Zelensky in Washington yesterday.

Intel is getting a USD 2 bn investment from SoftBank, which is buying a c.2% stake in Intel — some 87 mn shares — at USD 23 apiece, Intel said in a statement overnight. The share price is slightly below Intel’s closing price yesterday of USD 23.66, but is widely seen as a “lifeline” for the US chipmaker, which reported net losses last year for the first time in nearly four decades. SoftBank’s investment, which makes it Intel’s fifth-largest shareholder, also comes as the US government is reportedly in talks to snap up a 10% stake in Intel.

The investment is a shot in the arm in Intel’s (costly) drive to manufacture chips for external customers, although Intel has yet to lock down any significant customers for this line of business. “This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role,” SoftBank said in a statement. The story is front-page news in the Financial Times, the Wall Street Journal, CNBC, Bloomberg, and Reuters.

Meanwhile, Trump is now arranging a meeting between Ukraine’s Zelensky and Russia’s Vladimir Putin after Trump and Zelensky agreed that the US would help ensure Ukraine’s security in any peace agreement with Russia. Zelensky and Putin could meet in Hungary in the next two weeks, according to unconfirmed reports, with that meeting expected to be followed by a trilateral meeting with Trump to reach a final agreement to end the war between Kyiv and Moscow. (Reuters | Semafor | CNBC | Bloomberg)

*** 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 look at how our carbon market — Africa’s first — has fared since its launch.

Whether you’re diving into turquoise waters, catching golden hour from your terrace, or just letting time drift by — Somabay is summer, redefined. Your ultimate escape, every single time.

2

Tax

Egypt looks to register crude suppliers ahead of taxing them

What’s the plan for taxing crude oil? The Finance Ministry is looking to register crude oil suppliers before implementing recent VAT amendments that would see them face a 10% tax, a senior government source told EnterpriseAM.

REFRESHER- President Abdel Fattah El Sisi this summer ratified VAT amendments, which are estimated to help the government bring in an additional EGP 200 bn in tax revenues. These amendments introduce a new tax treatment for crude oil — making it subject to a 10% tax.

Who will be impacted? The Egyptian General Petroleum Corporation (EGPC) will face the burden of this new tax, seeing as it is the sole buyer of crude oil in Egypt. The Finance Ministry is currently holding meetings with the EGPC to set a mechanism for implementing the amendments.

What will the mechanism look like? The government is looking into the possibility of registering the suppliers under the simplified system with the Egyptian Tax Authority in the foreign suppliers registry, which would allow for reverse tax charging. The move would see the EGPC collecting the tax and verifying that the companies have paid it, which would allow the foreign suppliers to deduct the sum from their own tax obligations in their home countries. EGPC will pay the VAT after collecting it from the supplier, as it is considered an indirect tax.

That’s not all: The mechanism will include controls for issuing electronic invoices between the EGPC and its suppliers, including foreign players and irregular suppliers, seeing as at the moment EGPC agreements don’t stipulate the issuance of e-invoices.

The timeline: The government will start taxing crude oil as soon as the mechanism is finalized and the law’s executive regulations are issued, according to our source, who affirmed that the process may take some time due to the specific handling required for petroleum agreements.

EGPC’s financial stability is a top priority. To achieve this, the finance and oil ministries are working together to improve the EGPC's financial position by settling subsidy allocations and resolving financial entanglements across various sectors, our sources said.

A committee has been formed to review all the legislation governing the oil and energy sectors, an informed source from the oil sector told us. The move aims to attract new investments and update the system, including the tax laws, legislative policies, and various agreements. The government is looking to achieve financial stability within the oil sector with the ultimate goal of becoming a regional energy hub.

SPEAKING OF OIL AGREEMENTS- There is an ongoing study to amend a number of petroleum agreements to make the sector more attractive to oil companies, two government sources told EnterpriseAM, adding that this includes revising the production sharing ratios and usufruct rights.

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DEBT WATCH

Beltone Mortgage closes first EGP 1.32 bn securitization issuance

Beltone Mortgage wraps up debut securitization issuance: Beltone Holdings’ Beltone Mortgage has completed a EGP 1.32 bn securitized bond issuance, its first ever, according to a company statement (pdf). The issuance came under Beltone Securitization’s second program and was 2.3x oversubscribed.

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

The breakdown: The issuance came in four tranches, with tenors ranging between 24 and 60 months and ratings between A- and AA+.

Who bought in? Abu Dhabi Commercial Bank (ADCB), Saib Bank, Industrial Development Bank, and Housing and Development Bank subscribed to the issuance. The issuance was underwritten by the National Bank of Egypt, Banque du Caire, Al Baraka Bank, and Ahli Bank of Kuwait.

ADVISORS- Beltone Investment Banking acted as financial advisor, lead arranger, and bookrunner. Matouk Bassiouny & Hennawy was legal advisor, KPMG was auditor, ADCB was custodian and backup servicer, and Banque du Caire acted as placement agent.

What they said: “This first securitization issuance marks a strategic turning point for Beltone Mortgage. It reflects the strength and quality of our mortgage finance portfolio and reinforces our ability to structure innovative funding solutions that support our sustainable growth ambitions,” CEO Hassan Abdelnabi said.

4

Real estate

A look at what’s in the pipeline for Madinet Masr

Real estate player Madinet Masr recorded a 6% rate in contract cancellations in 1H 2025, coming below the industry average of 10-15%, CEO Abdallah Sallam said during a press conference attended by EnterpriseAM. The rate reflects a “healthy” increase — compared to previous periods when cancellations were almost nonexistent, Sallam said. Of these cancellations, 40% came on the shoulders of clients requesting to upgrade or downsize to other units, rather than financial distress.

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

Madinet Masr aims to hand over around 1.5k residential units during 2025, with the total value of construction contracts planned for the year estimated at EGP 13 bn, according to a disclosure (pdf) to the EGX. Sallam highlighted the company’s most recent megaproject Talala in New Heliopolis, which launched with investments of EGP 90 bn and targeted sales exceeding EGP 220 bn. The company’s real estate unit prices recorded an average increase of around 10%, “reflecting strong demand and diversified projects,” it said in the disclosure.

Commenting on a decline in the company’s net income in 1H 2025, Salam explained that the decrease stems from Madinet Masr’s expansion of co-development projects, whose revenues are only reflected upon delivery — meaning income will be reflected in future financial statements. In comparison, contracted sales rose in 2Q 2025, offsetting 1Q’s decline and pushing 1H sales above last year’s numbers, he said during the press conference.

Madinet Masr has also submitted an application to regulatory authorities to establish a real estate investment fund with a targeted capital of EGP 300 mn, under its fractional real estate ownership platform Safe, according to the disclosure.

A North Coast expansion could be on the horizon? The real estate player is reviewing its strategy to enter the North Coast, Sallam said, after seeing real estate giants developing megaprojects like South Med and Ras El Hekma, which have “changed the rules of the game.” The North Coast is no longer a destination for small gated compounds, but for fully integrated cities operating year-round, he said.

Meanwhile, a Saudi expansion is also simmering. Madinet Masr is currently evaluating three land plots in Saudi Arabia to launch a real estate project in Riyadh, with land sizes ranging between 300k and 500k sqm, the company said in the disclosure. The project will be a mixed-use residential and commercial development established under a partnership agreement with Saudi-based Waheej for Real Estate, with whom it inked an MoU in June, to diversify the company’s investment portfolio, Sallam said during the conference.

5

Moves

Hassan Abdalla gets another year as the governor of the Central Bank of Egypt

Hassan Abdalla will stay on for another year: President Abdel Fattah El Sisi has reappointed Hassan Abdalla as the acting governor of the Central Bank of Egypt for another one-year term, according to a decree published in the Official Gazette. El Sisi met with Abdalla yesterday to discuss efforts to continue curbing inflation and strengthening the country’s FX reserves, according to an Ittihadiya statement.

Abdalla has been the governor of the central bank since he took over from Tarek Amer in 2022. The new term is set to conclude almost two weeks ahead of the scheduled completion of our USD 8 bn IMF loan program in September 2026.

What’s next on the agenda? “His priority now will be to build up additional foreign-currency buffers and tackle risks to Egypt’s current-account deficit from economic shocks that range from a plunge in Suez Canal receipts caused by Houthi attacks on Red Sea shipping to rising energy imports for the Middle East’s largest population. A resumption of interest-rate cuts is also expected, in what would be a boost for local investors and industries,” Bloomberg wrote.

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Also on our Radar

Egypt eyes fresh foreign investments into the energy sector

ENERGY-

The government plans to attract USD 5.5 bn in foreign investment in the oil and gas sector with plans to drill 133 new oil and gas wells in FY 2025-2026, a government official told Al Arabiya. The Oil Ministry aims to drill around 70 wells in the first half of the fiscal year and more than 60 wells in the second half, all through the Egyptian Natural Gas Holding Company (Egas) and the Egyptian General Petroleum Corporation.

(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: Gas concessions drilling will focus on the Red Sea, the Mediterranean, the Nile Delta, and the Western Desert, while oil drilling plans will focus on basins in the Gulf of Suez, the Western Desert, and the Mediterranean.

CAPITAL MARKETS-

Zaldi Capital’s investment arm Zaldi Investment is looking to launch three new investment funds this year, an equity fund, an EGX33 Shariah Index tracker, and a Shariah-compliant fund, the company’s head of promotions Mohamed Alsherif told Al Borsa.

NBFS-

PFI, Cayesh to launch factoring JV: Post for Investment (PFI) — the investment arm of Egypt Post — partnered with homegrown fintech startup Cayesh to establish a new factoring company, PFI Cayesh Factoring, according to a press release(pdf). The venture has already secured initial approval from the Financial Regulatory Authority and is expected to launch operations in 4Q 2025, offering supply chain financing solutions tailored to SMEs.

EARNINGS WATCH-

#1- AMOC sees revenues, net income edge up in FY 2024-25: Alexandria Mineral Oils Company (AMOC) reported an attributable net income of about EGP 1.5 bn in FY 2024-2025, up from EGP 1.3 bn the year before, according to the company’s latest financials statement (pdf). Net sales came in at EGP 37.6 bn, marking an 11.2% y-o-y increase.


#2- Alexandria Containers reported a net income of EGP 6.4 bn in FY 2024-2025, up 23% y-o-y, according to the company’s financial statement (pdf). Revenues also increased during the year, rising 26% y-o-y to EGP 8.3 bn.


#3- Alexbank’s net income rose 28.5% y-o-y in 2Q 2025 to EGP 3.8 bn, according to the bank’s latest financial statement (pdf). The bank’s net income in 1H 2025 rose 46.9% y-o-y to EGP 7.5 bn.

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PLANET FINANCE

Emerging markets’ bond boom accelerates as investors bank on upcoming rate cuts

Companies and banks in emerging markets — excluding China — sold some USD 250 bn in international bonds between January and July — the fastest pace of issuance since the post-pandemic boom of 2021, the Financial Times reports, citing figures from JPMorgan and S&P Global. JPMorgan sees 2025 issuances reaching USD 370 bn, just shy of 2021’s full-year record.

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

Falling borrowing costs are luring borrowers off the sidelines as markets begin to price in rate cuts under a second Donald Trump presidency. “The market is beginning to price in a more accommodative Fed,” said Ninety One Co-Head of EM Corporate Debt Alan Siow, with optimism that upcoming Fed rate cuts would outweigh fears over Trump’s tariff rhetoric, including recent threats of 50% duties on India and Brazil.

Spreads are tight — and risk appetite is holding. Though average yields on JPMorgan’s EM corporate bond index remain near 6%, spreads over ten-year US Treasuries have narrowed to below 200 bps — the tightest in nearly two decades. High-yield EM spreads have also compressed, signaling continued appetite for riskier debt.

Despite the issuance surge, net new EM corporate debt including China is actually negative YTD, as repayments are outpacing new supply by USD 8 bn. Companies are still refinancing cautiously after years of high interest rates and many pandemic-era bonds now maturing. “What is beneath the surface here is that, year to date, the net supply is negative,” Siow said.

Sovereign issuers have sold more than USD 160 bn of international debt YTD — outpacing the same period in 2020, which ended up being a record year. Saudi Arabia has led the charge with a flurry of sovereign and bank bond sales to finance megaprojects and offset soft oil revenues. Mexico also steered a USD 12 bn issuance to partially bail out state oil giant Pemex.

MARKETS THIS MORNING-

Asian markets are mixed in early trading this morning, as traders sit tight in anticipation of the annual Jackson Hole Symposium. Japan’s Nikkei and the Hang Seng are flat, while the Shanghai Composite is inching up and South Korea’s Kospi is down 0.4%.

EGX30

35,825

-0.4% (YTD: +20.5%)

USD (CBE)

Buy 48.30

Sell 48.43

USD (CIB)

Buy 48.30

Sell 48.40

Interest rates (CBE)

24.00% deposit

25.00% lending

Tadawul

10,886

-0.1% (YTD: -9.6%)

ADX

10,213

-0.1% (YTD: +8.4%)

DFM

6,129

+0.1% (YTD: +18.8%)

S&P 500

6,449

0.0% (YTD: +9.7%)

FTSE 100

9,158

+0.2% (YTD: +12.1%)

Euro Stoxx 50

5,435

-0.3% (YTD: +11.0%)

Brent crude

USD 66.31

-0.4%

Natural gas (Nymex)

USD 2.88

-0.4%

Gold

USD 3,376

-0.1%

BTC

USD 116,340

0.0% (YTD: +24.4%)

S&P Egypt Sovereign Bond Index

892.64

+0.1% (YTD: +14.8%)

S&P MENA Bond & Sukuk

148.24

-0.1% (YTD: +5.9%)

VIX (Volatility Index)

14.99

-0.7% (YTD: -13.6%)

THE CLOSING BELL-

The EGX30 fell 0.4% at yesterday’s close on turnover of EGP 5.3 bn (2.4% above the 90-day average). Local investors were the sole net buyers. The index is up 20.5% YTD.

In the green: Misr Cement (+11.6%), Arabian Cement (+5.6%), and GB Corp (+4.8%).

In the red: Eastern Company (-3.8%), Palm Hills Development (-2.8%), and Juhayna (-2.7%).

8

Going Green

How has Egypt’s carbon market fared since its launch?

Egypt’s carbon market — launched last year as the first of its kind in Africa — is beginning to take shape, but momentum remains slow. While the regulatory framework is largely in place, trading volumes are still modest, and private sector engagement is limited.

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

The launch was followed by some market activity, with local agriculture firm Daltex purchasing 1.5k carbon credits from an agroforestry project in India’s Punjab through Singapore-based VNV Advisory, Sekem’s Isis Organic purchasing credits representing 500 tons of carbon dioxide from 10 farms through the Egyptian Biodynamic Association, and SCB Environmental Markets buying 2.5k carbon credits from VNV Advisory.

But there’s been little action on the market since, with the market — renamed earlier this year to the Egyptian Climate Exchange — counting only six transactions since its launch, according to its website.

There’s been progress on the listing front, however, with registered credits reaching nearly 140.0k from 28 projects across five countries, of which it says 42.0k have been retired. Agricultural projects remain the main driver of carbon credits in the exchange.

We could see an acceleration of issuances soon, with the government gearing up to issue carbon credits for renewable energy projects exceeding 10 MW, a government source told EnterpriseAM. The projects will be listed on the exchange in the second half of this year or early 2026, we were told.

Pricing remains a challenge, as Egypt has so far relied on international benchmarks for negotiations — as was the case with the Benban solar park. However, the introduction of an organized mechanism will allow for a fair pricing system for these certificates, the source said.

While private engagement in the market is increasing, it's yet to reach the desired level, VNV Advisory MEA Lead Omar El Nemr told EnterpriseAM. The growth is supported by extensive awareness and capacity-building efforts from the Financial Regulatory Authority, which initially focused on establishing a robust regulatory framework.

The carbon market is now very welcoming to developers, private sector investors, and offtakers, with streamlined processes for project registration and credit trading, we were told. The expectation is that the coming year will bring increased private sector engagement from the demand side, as projects are already listed on the exchange.

CBAM-affected sectors have shown most interest in emission reductions and offsetting, specifically the fertilizer and aluminum industries, El Nemr tells us. These sectors are actively inquiring about the potential role of carbon credits in reducing their CBAM exposure, though the exact nature of this role remains unclear.

How would it affect them? CBAM allows EU importers to deduct the cost of any carbon tax or emissions trading system already paid in the exporting country. If a non-EU country has its own carbon pricing in place, its exporters can reduce their CBAM-related costs by the equivalent amount paid domestically.

The regulatory framework to facilitate investment is already in place. The next step is to provide clear guidance on how and when carbon credits should be utilized. Institutional investors often don’t fully grasp the value of carbon credits, how to hedge associated risks, or the general risks involved — a challenge observed in both domestic and international carbon markets.

So what comes next? Education and capacity building take priority when it comes to developing a robust pipeline of high-quality carbon projects in Egypt, El Nemr added. The goal is to “raise awareness and build capacity for the private sector on what a carbon credit is and how it is used and when it should be used,” he added. Many current emission reduction initiatives in Egypt struggle to meet return requirements and are often unaware of the potential value carbon markets and credits can add to their performance. Efforts should also incorporate integrity principles such as the core carbon principles, as issued by the Integrity Council for the Voluntary Carbon Market (ICVCM), he said.

The FRA is supporting this by providing education and facilitating matchmaking between validation verification bodies, project developers, and registries. The FRA also has a soon-to-be-fully-launched platform that serves as a knowledge center to guide emission reduction project developers through the process, stakeholders, steps, and relevant regulations in Egypt.

Private companies should actively consult platforms like Verra and Gold Standard for guidance on credit standards and project eligibility to make the most of carbon markets for both climate goals and financial returns, says El Nemr. These platforms offer methodologies applicable to projects that companies might register and suggest project types for investment or offsetting as part of environmental stewardship. Engagement with local registries in Egypt, such as Economy of Love, is also encouraged, particularly for companies seeking to support local farmers and communities.

National carbon registries — platforms monitoring the full lifecycle of carbon credits — play a crucial role in the evolving market, El Nemr told us. A carbon registry serves as a central platform for issuing, storing, and tracking carbon credits, including transfers and ownership changes, which can be essential for transparency and regulatory oversight — especially now that carbon credits are classified as financial instruments in Egypt.

Speaking of transparency and monitoring: Digital measurement, reporting, andverification (DMRV) technologies, including satellite imagery and blockchain, can play a significant role, particularly in project development. Given that many potential projects in Egypt will be located in remote areas and there's growing interest in distributed energy systems, DMRV becomes increasingly important for continuously monitoring these systems from a central control point, El Nemr said.

Where should the focus be? The energy and agriculture sectors are key to developing a robust pipeline of carbon projects in Egypt. The energy sector accounts for the majority of Egypt's emissions, while the country's economy largely depends on the agriculture sector, which is actively “looking to transition to a low-carbon industry,” El Nemr tells us.

Regarding the long-term decarbonization strategy in Egypt, the voluntary carbon market is an excellent starting point, El Nemr adds. Adopting a voluntary mechanism initially allows the private sector to choose its engagement, which is seen as a smoother approach. After establishing sufficient awareness of carbon credits and allowances and the distinctions between voluntary and compliance credits, engagement with the compliance market is expected to increase.


Your top green economy stories for the week:

  • The EFG Foundation for Social Development launched the EFG Hermes Applied Technology School for Agri-tech in Luxor, marking Egypt’s first applied technology school specializing in climate-smart agriculture.
  • Egypt plans to issue a new tranche of sovereign green bonds, a senior government source told EnterpriseAM. The Finance Ministry, in consultation with the offering advisors, is looking into either replacing the bond maturing in September or reopening the current bond for another five years.

AUGUST

28 August (Thursday): Monetary Policy Committee meeting.

Mid-August: Launch of electronic platform to register Old Rent Law tenants.

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

Late-August: Deadline for cement factories to restart production.

SEPTEMBER

8-11 September (Monday-Thursday): EFG Hermes London Conference takes place in the British capital.

9-11 September (Tuesday-Thursday): The International Exhibition for Paper, Corrugated Board, Paperboard and Tissue Paper Industries — PAPER-ME — takes place at the Egypt International Exhibition Center.

15 September (Monday): IMF to hold its combined fifth and sixth reviews of Egypt’s USD 8 bn EFF arrangement.

24-27 September (Wednesday-Saturday): Cityscape Egypt 2025, Egypt International Exhibition Center.

The Egyptian-Moroccan Business Council to send a delegation of 23 local companies to Rabat.

The Engineering Export Council of Egypt will ship a commercial delegation to Russia to ramp up exports to European markets.

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

1 October (Wednesday): Applications for alternative housing for old rent tenants will open through an online platform or at post offices nationwide.

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

7 October (Tuesday): The 2025 EnterpriseAM Egypt Forum.

7-8 October (Tuesday-Wednesday): HACE-Hotel Expo, Egypt International Exhibitions Center.

7-9 October (Tuesday-Thursday): EgyMedica Exhibition, Cairo International Convention Center.

12-16 October (Sunday-Thursday): Cairo Water Week, Cairo.

19-22 October (Sunday-Wednesday): Arab African Investment and International Cooperation Summit.

23-25 October (Thursday-Saturday): Stone Africa Expo, Cairo International Conference Center.

October: The third iteration of the Export Smart Exhibition and Conference.

Mid-October: Capmas to publish the findings of its 2023-2024 income and expenditure survey.

NOVEMBER

16-19 November: Cairo ICT 2025, Egypt International Exhibition Center

20 November (Thursday): Monetary Policy Committee 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 Center.

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

EVENTS WITH NO SET DATE

Mid-2025: EGX launches sustainability index.

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.

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

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.

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.

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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