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More int’l debt issuances to come this FY

1

What We're Tracking Today

IMF mission to land in Egypt early December

Good morning, friends, and happy Monday to you all. We have another packed issue for you this morning, led by government plans to tap the international debt markets a few more times this fiscal year, unemployment inching up after three consecutive quarters of cooling, and confirmation that an IMF mission will soon make its way to Egypt.



PSA-

WEATHER- It’s another cool day in Cairo, with a high of 25°C and a low of 17°C, according to our favorite weather app.

It’s a little cooler in Alexandria, with a high of 25°C and a low of 15°C.

WATCH THIS SPACE-

#1- An IMF mission will touch down in Egypt early December for the combined fifth and sixth reviews of the country’s USD 8 bn extended fund facility program and the first review of the resilience and sustainability facility, the fund’s Director of Communications Julie Kozack said in a press briefing.

The visit follows improvements in key economic indicators that the fund had been looking for progress on. Among these developments is Qatar’s recently announced USD 29.7 bn Alam El Roum project, where a few hundred mn of the proceeds will go toward reducing public debt, a key priority for the IMF.

Egypt is showing efforts adhering to key reform commitments through “establishing a robust institutional framework around divestment of state assets…and working to step up efforts on debt management as the financing outlook improves,” Kozack said.


#2- Eni has allocated some USD 1 bn for the second phase of Meleiha’s development, covering exploration and oil and gas extraction, government sources told EnterpriseAM. The Western Desert field holds an estimated 5 mn barrels of oil equivalent — current output from the field currently stands at around 7k bbl/d. Eni is also working on a USD 180 mn gas-processing facility in the area.

CONTEXT- Eni operates the Meleiha concession and holds a 76% interest in it, with Lukoil, Russia’s second-largest oil producer, holding the remaining 24%.

There’s more: The field will be tied into the Northern Gas Line through a 130-km pipeline to support the new phase of production, according to our sources. The link is designed to raise the amount of gas available for export, boost domestic supply, and reduce reliance on imported volumes.

#3- Egypt aims to send 27 shipments of green ammonia Germany’s way by 2027, Asharq Business reports, citing Suez Canal Economic Zone head Walid Gamal El Din.

REMEMBER- Fertiglobe last year inked an EUR 397 mn contract with H2Global subsidiary HINT.CO to supply green ammonia from its facilities in Egypt to the European Union.

GDP WATCH-

BNP Paribas expects Egypt’s economy to grow 5.2% in FY 2025-2026, before expanding further to 5.5% in the next fiscal year, the French banking giant said in a recent research note seen by EnterpriseAM. This growth will be driven by strong household consumption, which accounts for more than 80% of GDP, as well as a boost in corporate investment on the back of easing monetary policy.

Inflation outlook: BNP Paribas sees inflation averaging 10.7% this fiscal year, down from 20.9% in FY 2024-2025. In the short term, the disinflationary trend, supported by lower oil prices and weaker USD, is anticipated to continue throughout 1Q of 2026. Despite risks of temporary price hikes due to subsidy cuts, the Central Bank of Egypt will likely achieve its 7% (± 2) inflation target in 4Q 2026, the note explains.

Other predictions from BNP Paribas: Foreign currency liquidity is anticipated to stabilize supported by a reduction in the current account deficit and international financing. Meanwhile, the primary surplus is projected to remain above 3% of GDP in 2026 and 2027, and budget deficits are expected to decline to 6% of GDP in FY 2026-2027.

HAPPENING TODAY-

The African Union’s Post-Conflict Reconstruction and Development Awareness Week kicks off today in Cairo and runs until 23 November. The event, held under the theme Rebuilding Lives After Conflict Through Restorative Justice, aims to promote “concrete initiatives to improve the lives and livelihoods of Africans and empower the continent’s resilient citizens to actively contribute to rebuilding their own societies.”

CIRCLE YOUR CALENDAR-

We’ll soon see two new EV models on Egyptian streets: Kasrawy Group is set to launch Chinese EV brand Avatr’s first two models in Egypt — Avatr 11 and Avatr 12 — on 27 November, according to a statement seen by EnterpriseAM.

REMEMBER- Kasrawy became the local exclusive agent for the brand in the summer.

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


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ICYMI- Missed this week’s Inside Industry? In our weekly vertical exploring all things industry and manufacturing, we looked at how the pharma industry is changing in the midst of the localization push, pricing framework changes, and international firms’ expansions in the local market. Check out the story here.


THE BIG STORY ABROAD-

The notorious Epstein files are dominating what’s otherwise a calm day in the international press. The divide is intensifying over whether to release the files related to the trafficking investigation into disgraced financier Jeffrey Epstein, with calls for full disclosure reportedly gaining more and more ground in the House despite resistance from President Trump and GOP leaders.

The renewed split comes after a House committee released some 20k new pages from the files last week, containing mentions and correspondence with several prominent figures including Trump. The President retaliated by directing the Justice Department to open an investigation into Epstein’s ties with Democrats, a move that some say fanned the flames even further. (Washington Post | Associated Press | Semafor)

MEANWHILE- BTC is reminding everyone just how volatile cryptocurrencies are, erasing more than 30% in YTD gains only a month after reaching an all-time high. The top cryptocurrency fell below the USD 94k mark yesterday, before paring back losses to trade at USD 94.9k. (Bloomberg | Reuters)

ALSO WORTH READING THIS MORNING-

  • Massive protests are hitting Mexico over corruption and organized crime. (Semafor)
  • In defense of junior staff: Why replacing young people with AI could spark a “talent doom cycle.” (CNBC)

*** 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 how Egyptian universities measured up against their international counterparts in the latest global rankings.

The Opening of The Kaktus Hotel marks a new destination in Somabay, inspired by active lifestyle and culinary destination offerings. The Kaktus has finally bloomed on the Red Sea.

#Lovesomalivekaktus

2

DEBT WATCH

Egypt to tap the int’l debt market again this FY

The Finance Ministry is preparing a slate of new international debt issuances for the second half of the current fiscal year, including panda bonds, samurai bonds, sustainable green bonds, and eurobonds, a senior government official told EnterpriseAM.

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

The details: Egypt is set to issue debt instruments in international markets — including the London Stock Exchange — in February, the source said. The government plans to appoint investment banks, including Citibank and our friends at HSBC, to manage the offerings next month.

A USD 500 mn green bonds issuance? The government is awaiting the green light from the African Development Bank that it will guarantee a new sustainable bond framework and green samurai bonds worth USD 500 mn, the source added. The issuance would follow the repayment of USD 750 mn in maturing green bonds last October.

REMEMBER- The Finance Ministry aims to issue USD 4 bn worth of international debt during the current fiscal year, a government source told us earlier this year. Egypt tapped the international debt market in October with a USD 1.5 bn sovereign sukuk issuance — its third-ever and the first of the current fiscal year — following a USD 1 bn sovereign sukuk issuance in June that was fully subscribed by Kuwait Finance House.

Debt strategy coming soon: The Finance Ministry is gearing up to launch the public debt strategy next month. The strategy aims to bring public debt down to below 75% of GDP within three years, from 85% in the last fiscal year, while cutting debt servicing costs to 7% of GDP and extending debt maturity to five years.

This publication is proudly sponsored by

3

Logistics

Egypt inaugurates USD 724 mn worth of projects in East Port Said Port

East Port Said Port welcomes three new projects: President Abdel Fattah El Sisi yesterday inaugurated three new terminals in East Port Said, worth a combined USD 724 mn, according to an Ittihadiya statement.

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

#1- A USD 500 mn expansion led by Maersk: The largest of the newly inaugurated facilities is the SCCT2 container terminal, a USD 500 mn expansion of the Suez Canal Container Terminal by Maersk-owned SCCT. The terminal spans 510k sqm, includes a 950-meter berth, and will add an extra 2.2 mn TEU of annual capacity. We dove into the project details when it was first announced in 2022 — check out our coverage here.

#2- A USD 159 mn ro-ro terminal: The president also inaugurated the Suez Canal Automotive (SCAT) roll on, roll off (ro-ro) terminal, developed by a consortium of Bolloré-Toyota Tsusho-NYK. The USD 159 mn facility spans 212k sqm, features a 600-meter berth, and can handle 50k vehicles annually. The three players signed the final contract for the project back in 2019.

#3- A USD 65 mn multipurpose terminal: El Sisi also inaugurated a USD 65 mn multipurpose terminal set up by Sky Investments and Reliance Logistics. The 380-sqm terminal includes a 900-meter berth and has an annual handling capacity of 8.5 mn tons. The project has been on our radar since late 2022 when the two sides signed its contract.

East Port Said Port is now Africa’s top-ranked container port and the third globally, SCZone head Walid Gamal El Din said, citing rising investor interest and infrastructure links connecting the east and west banks of the canal.

4

Economy

Egypt’s unemployment inches up during 3Q 2025 to hit 6.4%

Unemployment inched upward to record 6.4% in 3Q 2025, up 0.3 percentage points from 2Q, reversing a downward streak that lasted three consecutive quarters, according to data from state statistics agency Capmas. The figure represents a 0.3 percentage points dip from the 6.7% recorded in 3Q 2024.

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

The labor force continued to grow, expanding 3.3% q-o-q in 3Q to 34.7 mn people, as the number of employed individuals rose by 939k and the number of those unemployed went up by 175k.

The gender gap persists: Male unemployment rose to 4.0% during the period, compared to 3.5% in 2Q 2025, but it was down 0.2 percentage points y-o-y. Female unemployment eased to 15% from 15.8% in the previous quarter and 18.2% in 3Q 2024.

Urban unemployment increased to 10.1% in 3Q 2025 from 9.7% in 2Q 2025 — but was unchanged from the same period last year. Rural unemployment rose 0.3 percentage points q-o-q to 3.6% in 3Q, but it was down 0.4 percentage points y-o-y.

A dip in self-employment as salaried roles increase: Salaried workers accounted for 68.8% of total employment in 3Q 2025, up 0.7 percentage points q-o-q and down 3.9 percentage points y-o-y. Meanwhile, the self-employed made up 19.2%, down 4.0 percentage points q-o-q and 0.4 percentage points y-o-y. In addition, business owners made up 5.0% of those employed, up from 4.0% in 2Q 2025, and 3.1% a year earlier, while those working for family businesses rose to 7.0%, from 4.7% in 2Q 2025 and from 4.6% a year ago.

REMEMBER- The unemployment rate excludes working-age people not seeking work. The labor force participation rate — which counts everyone aged 15-64 either in work or actively looking for work — stood at 46.9% in 3Q 2025, compared to 45.5% in 2Q 2025, and 44.4% in 3Q 2024.

5

DEBT WATCH

Valu closes third EGP 735 mn securitization under new program

Valu closed an EGP 735 mn securitized bond issuance, marking the third sale under its fifth securitization program, it said in a statement (pdf). The firm last tapped the debt market last month with an EGP 1.1 bn sale under the same program, which it kicked off in August with an EGP 460.7 mn issuance.

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

The details: The issuance is backed by a receivables portfolio assigned to EFG for Securitization, which acted as the SPV. It came in two fixed-rate tranches, a 12-month tranche rated P1 and a 17-month tranche rated A-.

ADVISORS- Our friends at EFG Hermes acted as the sole financial advisor, transaction manager, bookrunner, underwriter, and arranger, while Arab African International Bank served as an underwriter and custodian. Dreny & Partners provided counsel, and Baker Tilly served as the auditor.

6

EARNINGS WATCH

Raya Holding, EKH, Ibnsina, and more report earnings

More earnings come in: Raya Holding, Egypt Kuwait Holding, Oriental Weavers, and more are out with their 9M and 3Q earnings for the year.

RAYA HOLDING RECORDS 47% INCREASE IN NET INCOME-

Raya Holding saw its net income after minority interest rise 47.0% y-o-y during the first nine months of the year to EGP 1.6 bn, according to the company’s latest earnings release (pdf). Revenues came in at EGP 45.5 bn during the period, marking 41.0% y-o-y growth, “driven by the continued momentum of the group’s four largest contributors” and foreign currency revenues jumping 54.6% y-o-y to EGP 8.8 bn.

The breakdown: Raya Trade and Distribution was the largest contributor to group revenues during the nine-month period, accounting for 38.0% of the total. The subsidiary brought EGP 17.3 bn in revenues, up 33.2% y-o-y, supported by mobile distribution, retail, and its Nigerian operations. Raya IT came second with 27.4% of revenues, raking in EGP 12.5 bn, up 65.1% y-o-y, on the back of strong regional demand and higher-margin managed services. The group’s NBFS arm Aman was the third-largest contributor, bringing in 14.4% of revenues with EGP 6.6 bn, up 51.4% y-o-y.

And for 3Q, the group recorded a net income after minority interest of EGP 740 mn, marking a 62.4% y-o-y increase, while revenue came in at EGP 17.7 bn, up 45.5% y-o-y.

EKH SEES REVENUES JUMP 32%-

Egypt Kuwait Holding (EKH) reported a 32% y-o-y jump in revenues during 9M 2025 to USD 576 mn, “driven by broad-based top-line growth across the portfolio, balance sheet optimisation and operational growth across the portfolio,” according to the company’s latest earnings release (pdf). Net income for the period saw a 2% y-o-y dip, coming in at USD 137 mn. The company attributed the drop to FX gains of USD 55.9 mn recorded in 9M 2024, compared to FX losses of USD 5.6 mn during the same period this year.

The details: Fertilizer arm AlexFert contributed the lion’s share of total revenues with a 31% share in the first nine months of the year. The subsidiary’s revenue increased 16% y-o-y to USD 178 mn during the period, driven by higher export urea prices. Petrochemical subsidiary Sprea Misr recorded USD 128 mn in revenues, up 26% y-o-y and contributing 22% of total revenues. NatEnergy saw its revenue increase 21% y-o-y to USD 53.7 mn, Kahraba’s revenue rose 16% y-o-y to USD 45.3 mn, and ONS clocked in a 6% y-o-y increase in revenue to USD 45.9 mn.

Zooming in: EKH reported revenues of USD 179 mn during the third quarter of the year, marking a 32% y-o-y increase, on the back of broad-based growth across its fertilizers, petrochemicals, utilities, and diversified segments. Its net income came in at USD 35.2 mn during the three-month period, down 9% y-o-y, which the company attributed to “higher impairment reversals of USD 7.7 mn and USD 4.3 mn contribution from Delta Ins.”

Looking ahead: “As we look ahead to the remainder of the year, we remain focused on executing our strategic deliverables, driving operational excellence across our key platforms, and unlocking further value through active portfolio and balance sheet management. With a solid foundation and a forward-looking strategy in place, we are poised to capture additional growth opportunities across both our core as well as new markets,” CEO Jon Rokk said.

IBNSINA PHARMA POSTS RECORD 9M PERFORMANCE-

EGX-listed pharma distributor Ibnsina Pharma saw its net income hit a record EGP 659.8 mn during the first nine months of the year, marking a 62.3% y-o-y jump, according to its latest earnings release (pdf). Revenues for the period rose 44.2% y-o-y to EGP 55.4 bn, thanks to a 48% y-o-y jump in sales to EGP 296.2 bn.

Ibnsina maintained its lead in Egypt’s pharma distribution market with a 30.9% share.

During 3Q 2025, the pharma players recorded an unprecedented EGP 271 mn in net income, marking a 46.6% jump y-o-y. The company's revenues grew 30.5% y-o-y during the period to EGP 20.3 bn.

What they said: “Economies of scale continue to positively impact our financials, with EBITDA growing faster than gross profit and net revenues. However, the high-interest rate environment hinders the full translation of our growth into higher net profit levels,” the company’s CEOs said.

ORIENTAL WEAVERS’ NET INCOME TAKES A DIP-

Oriental Weavers saw its net income dip 19% y-o-y during 9M 2025 to EGP 1.8 bn, while revenues were up 13% y-o-y at EGP 19.5 bn, according to its latest earnings release (pdf). During 3Q 2025, the company reported a net income of EGP 646 mn, down 8% y-o-y, while revenues rose 7% y-o-y to EGP 6.9 bn, mainly supported by higher average selling prices.

UNITED BANK REPORTS EARNINGS-

United Bank’s net income after tax took a dip during the first nine months of the year, logging EGP 1.8 bn, down 9.4% y-o-y, according to the lender’s latest financial statement (pdf). Net interest income for the period came in at EGP 3.9 bn, up from EGP 3.5 bn the year before.

PHD RECORDS JUMP IN REVENUES, INCOME-

Local real estate giant Palm Hills Developments saw its net income jump 50% y-o-y in 9M 2025 to EGP 3.5 bn, according to its latest earnings release (pdf). Revenues grew 42% y-o-y to EGP 25.4 bn during the period on the back of strong new sales. Net income rose 93% y-o-y during the third quarter of the year to EGP 1.1 bn, while revenues jumped 42% y-o-y to EGP 10.0 bn.

7

Moves

Ahmed Abdel Aziz appointed deputy chairman of the FRA

Ahmed Abdel Aziz (LinkedIn) has been appointed deputy chairman of the Financial Regulatory Authority (FRA), under a decree issued by Prime Minister Moustafa Madbouly, according to a statement. He will step into the role for the remainder of the board’s current term.

A veteran of the ins. industry: Abdel Aziz brings over 25 years of experience in the ins. sector. Most recently, he served as an advisor to the FRA chairman and prior to that he was managing director and CEO of Misr Life Ins., having earlier led the company as chairman.

8

Also on our Radar

KB Denim to set up USD 300 mn factory

MANUFACTURING-

KB Denim plans to set up a USD 300 mn, 140k sqm denim fabric factory in Tenth of Ramadan to expand its production capacity and meet growing demand, Production Manager Ayman Gouda told Al Borsa. The company aims to double its monthly output to 2.4 mn meters within two years and raise exports from 20% to 50% of total production by 2026.

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

DISPUTE WATCH-

Qalaa Holding’s ASEC Cement won an international arbitration case against Algerian company Zahna Cement, granting it USD 63 mn in compensation and expenses, according to a disclosure (pdf) to the EGX. The arbitration decision, handled by the International Chamber of Commerce, has now been upheld by French courts.

SETTING THE RECORDING STRAIGHT- Qalaa highlighted that this case is different from the larger arbitration case that Asec Cement and Qalaa Holdings filed against the Algerian government. The two companies sued the Algerian government back in 2021 for harming their cement projects in Djelfa and Zahana — impairing their value and ultimately forcing the sale of a local subsidiary, according to the UNCTAD website. Qalaa and Asec Cement are seeking about USD 900 mn in compensation.

EXPANSION-

Emirati real estate developer and contractor Arkan is stepping into the Egyptian market with plans to invest more than EGP 10 bn through a new vehicle — called SLCITI — in the first phase of its expansion, according to a press release. SLCITI will focus on studying the local market using big data and AI tools to track demand, assess potential investments, and support Arkan’s plans to develop a diversified portfolio.

REGULATION WATCH-

The Financial Regulatory Authority revoked the microfinance licenses of 258 category C NGOs for failing to comply with microfinance regulation, the authority said in a statement. The move came after repeated warnings and grace periods were issued to correct their status. The affected entities didn’t provide any financial services and failed to submit periodic reports and financial statements.

9

PLANET FINANCE

Zero-day options are quietly capping S&P 500 rallies

A new wave of ultra-short-dated option trading is increasingly shaping how the S&P 500 moves during the day, and analysts say it may be putting a ceiling on stock market rallies, Bloomberg reports. Zero-day options and other one-to-five-day contracts have exploded in popularity this year, turning what used to be niche trades into one of the biggest forces in US equity markets.

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

A flood of daily option-selling is changing intraday behavior: Investors have been selling more short-dated options to collect steady premiums. These trades are designed to profit if markets stay in a narrow range, but they also create mechanical pressure in the underlying index.

The last 30 minutes of trading are becoming a pressure point: Hedging flows spike as options approach expiration near the closing bell. On 24 October, dealer gamma peaked at about USD 90 bn roughly 10 minutes before market close. At that moment, even a 0.1% move in the index would have forced around USD 10 bn in hedging flows, according to UBS estimates.

Some see trading opportunities in these distortions, others aren’t convinced: The growing influence of short-option strategies has encouraged some traders to buy one-day options at the close and sell them at the next morning’s open, hoping to exploit overnight gaps. But skeptics warn against overstating the importance of any single strategy. “Of the 25 or so different things that are pushing markets in different directions, this is one of the 25,” said Susquehanna’s Chris Murphy. “It gets more attention than it deserves.”

And the sustainability question remains open: Many of these trades rely on stable, low-volatility conditions — something that rarely lasts forever. “Any systematic short-option strategy generally harvests premium pretty well until a high volatility environment realizes and then it kills the trade via convex losses,” said Garrett DeSimone of OptionMetrics.

MARKETS THIS MORNING-

Asian markets are mostly in the red in early trading this morning as traders adopt a cautious approach ahead of a busy week for earnings. Japan’s Nikkei, the Shanghai Composite, and the Hang Seng are all down 0.5%. Meanwhile the Kospi is in the green, up 1.7%.

EGX30

41,211

+2.5% (YTD: +38.6%)

USD (CBE)

Buy 47.07

Sell 47.21

USD (CIB)

Buy 47.10

Sell 47.20

Interest rates (CBE)

21.00% deposit

22.00% lending

Tadawul

11,053

-1.1% (YTD: -8.2%)

ADX

9,918

-0.4% (YTD: +5.3%)

DFM

5,950

-0.7% (YTD: +15.3%)

S&P 500

6,734

-0.1% (YTD: +14.5%)

FTSE 100

9,698

-1.1% (YTD: +18.7%)

Euro Stoxx 50

5,694

-0.9% (YTD: +16.3%)

Brent crude

USD 63.71

-1.1%

Natural gas (Nymex)

USD 4.46

-2.3%

Gold

USD 4,088

-0.2%

BTC

USD 94,500

-1.0% (YTD: +1.0%)

S&P Egypt Sovereign Bond Index

963.05

+0.1% (YTD: +23.9%)

S&P MENA Bond & Sukuk

151.92

0.0% (YTD: +8.6%)

VIX (Volatility Index)

19.83

-0.9% (YTD: +14.3%)

THE CLOSING BELL-

The EGX30 rose 2.5% at yesterday’s close on turnover of EGP 6.3 bn (28.7% above the 90-day average). Local investors were the sole net buyers. The index is up 38.6% YTD.

In the green: Telecom Egypt (+11.9%), Eastern Company (+7.4%), and TMG Holding (+4.8%).

In the red: Misr Cement (-2.4%), Oriental Weavers (-2.4%), and Egypt Kuwait Holding -EGP (-1.6%).

10

BLACKBOARD

Egypt’s universities continue to climb global rankings as government pushes internationalization

Egypt’s universities are quietly climbing the global ranks: Egypt’s higher education sector continued its steady ascent, with more local universities breaking into the world’s leading rankings and several improving their global standing. Egypt now has 51 universities listed in Times Higher Education’s rankings — the country’s largest representation yet — alongside gains in both the QS World University Rankings and the Shanghai Ranking (ARWU). The performance underscores the state’s ongoing push to internationalize higher education, attract foreign students, and strengthen Egypt’s position as a regional academic hub — even as competition across the region heats up.

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

There are three global rankings that set the benchmark for higher education performance — THE (Times Higher Education), QS World University Rankings, and ARWU (Shanghai Ranking). Each uses distinct indicators to measure teaching quality, research influence, internationalization, and industry engagement — providing a broad picture of how universities are performing worldwide.

Each ranking has its own metrics — but the trend is unmistakable: “Every global ranking has its own indicators and measurement frameworks,” Higher Education Ministry spokesperson Adel Abdel Ghaffar told EnterpriseAM. “What we’re seeing, however, is a clear upward trajectory, with many Egyptian universities advancing across multiple international rankings.” The ministry “closely tracks global developments in these rankings and discusses them with local universities to help them adopt international standards, which in turn drives their continued progress,” Abdel Ghaffar added.

SIX MORE EGYPTIAN UNIVERSITIES MAKE IT TO THE'S LIST-

THE’s 2026 rankings expanded Egypt’s representation to 51 universities, up from 47 lastyear. New entrants this year — all joining as reporter universities — include Egypt University of Informatics, Egyptian Chinese University, Galala University, Horus University, Mansoura National University, and Menoufia National University. Reporter universities contribute data to the rankings but are not themselves ranked. Meanwhile, two universities — Helwan University and Egyptian Chinese University — dropped out of the ranked categories after featuring in last year’s list.

From three to 36 in a decade: Abdel Ghaffar noted that Egypt’s representation on Times Higher Education’s rankings has grown from just three universities in 2016 to 51 in the 2026 list — the country’s largest presence since joining the index. “Egypt’s improved performance in the 2026 Times Higher Education rankings reflects the ongoing development in both academic and research output,” Abdel Ghaffar told us.

How THE evaluates universities: The Times Higher Education ranking assesses universities using 18 performance indicators grouped into five pillars:

  • Teaching (learning environment);
  • Research environment (volume, income, reputation);
  • Research quality (citations, excellence, influence);
  • International outlook (staff, students, research);
  • Industry (income and patents).

Each metric is carefully weighted to reflect institutional balance across teaching, research, and international collaboration.

Knowledge Bank boosts Egypt’s research visibility: Abdel Ghaffar also credited the Egyptian Knowledge Bank for “providing researchers and scholars with vast scientific resources, which has strengthened the role of research in Egypt and enabled universities to enhance their international standing.” He added that this effort supports Egypt’s Vision 2030 goal of improving education and research to create a generation capable of driving national development.

AUC takes the lead, E-JUST slips slightly: Our friends at the American University in Cairo (AUC) now lead all Egyptian universities in the 2026 THE rankings, positioned in the 601-800 band alongside the Egypt-Japan University of Science and Technology (E-JUST) and Kafrelsheikh University. This marks a shift from 2025, when E-JUST was Egypt’s top-ranked institution in the 501-600 band. Ain Shams University also rose into Egypt’s top five, moving up to 801-1000, while Alexandria University climbed into the same range. The top ten Egyptian institutions in this year’s ranking include AUC, E-JUST, Kafrelsheikh, Ain Shams, Al Azhar, Alexandria, Cairo University, Future University in Egypt, Mansoura University, and the Arab Academy for Science, Technology and Maritime Transport, which ranked among the top ten Egyptian universities for the first time.

Advancing beyond the rankings: “Our approach is holistic. Our research agenda is driven by a desire to contribute meaningfully to global knowledge and to address pressing societal challenges,”  American University in Cairo Provost Ehab Abdel Rahman told EnterpriseAM. The university invests in recruiting world-class faculty and providing them with ongoing professional development to enhance their teaching and research capabilities. “Moreover, we maintain strong ties with employers to ensure our curriculum remains relevant and forward-looking,” Abdel Rahman added.

Several institutions moved up the ladder: Among those posting improvements were Ain Shams University, ranking among 801-1000 top universities, up from 1001-1200 last year, Alexandria University (801-1000, up from 1001-1200), and the Arab Academy for Science, Technology and Maritime Transport (1001-1200, up from 1201-1500). Delta University for Science and Technology made its debut in the ranked list at 1001-1200 after previously holding reporter status, while University of Sadat City advanced to 1001-1200 from 1201-1500. 6 October University also advanced to 1201-1500, reflecting steady progress across several private and regional institutions.

Others slipped in the 2026 rankings: Some universities saw their standings decline amid intensified global competition. E-JUST fell from the 501-600 bracket to 601-800, while Future University in Egypt and Mansoura University both slid to 801-1000 from 601-800. Further down the table, Benha University, Fayoum University, Suez Canal University, and Zewail City of Science and Technology all dropped into the 1201-1500 band. Helwan University and Nile University were ranked in the 1501+ category after previously being placed in the 1201-1500 range.

SIX EGYPTIAN UNIVERSITIES MADE IT TO THE 2025 SHANGHAI RANKING-

The latest ARWU ranking — also known as the Shanghai Ranking — lists six Egyptian institutions, down from eight last year. Cairo University remained Egypt’s top performer, though it slipped to the 401-500 range after ranking in the 301-400 bracket in 2024. Alexandria University followed in the 501-600 range, while Ain Shams University and Mansoura University both maintained their positions in the 601-700 band. Al Azhar University and Zagazig University rounded out the list at 701-800 and 901-1000, respectively. Suez Canal University and Tanta University both dropped out of this year’s rankings after appearing in 2024.

How ARWU measures global standing: The metrics include the number of alumni and staff who have received prestigious academic awards, the volume of publications and citations, and the university’s visibility in top-tier scientific journals. Together, these criteria aim to measure research excellence and long-term academic impact across institutions worldwide. The Shanghai Ranking evaluates universities based on four primary indicators:

  • Quality of education;
  • Quality of faculty;
  • Research output;
  • Per capita performance.

20 EGYPTIAN UNIVERSITIES IN THE QS WORLD 2026 RANKINGS-

Egypt’s presence on the QS tables expanded this year, with 20 universities listed compared to 15 last year. Cairo University continued to lead locally, rising three places to 347 worldwide, while the AUC climbed nearly 30 spots to 381, maintaining its position as Egypt’s top-ranked private university. Ain Shams University also improved significantly, moving up to 543 from 592, and Alexandria University advanced to 784 from 850. Among private institutions, Future University in Egypt rose to the 901-950 band from 951-1000 last year, while Al Azhar University and the Arab Academy for Science, Technology and Maritime Transport remained steady in the 1001-1200 range.

Five new Egyptian universities entered the QS list this year: Beni Suef University, Delta University for Science and Technology, Aswan University, Benha University, and Nile University all made their debut on the 2026 ranking, underscoring the growing international visibility of Egypt’s higher education sector. Meanwhile, Suez Canal University slipped to the 1401+ range from 1201-1400. The British, German, and Helwan universities in Cairo — along with Tanta and Zagazig universities — maintained their standings within the 1201-1400 range.

REMEMBER- The government is working towards having at least 28 Egyptian universities on the QS World University Rankings by the end of President Abdel Fattah El Sisi’s third term in 2030.

But rankings should be taken with a pinch of salt: Rankings can provide valuable insights that help institutions identify strengths and areas for improvement. However, ranking agencies must also take responsibility for refining their methodologies and addressing ethical concerns. For example, the Research Integrity Risk Index sheds light on some of the risks and challenges associated with current ranking practices, where universities overlook academic integrity for the sake of publishing more and rankers do not take this matter into consideration when they rank universities, Abdel Rahman noted.

Curriculum reform and global partnerships underpin the progress: “Curriculum development and international partnerships with highly ranked universities in specific disciplines are behind the improvement in higher education,” Mohamed Abdel Latif, Supreme Council of Universities member and Dean of the Faculty of Tourism and Hotels at Mansoura National University, told EnterpriseAM. He said aligning programs with labor-market needs and introducing interdisciplinary curricula that combine multiple fields “has helped attract investment to the sector and raise academic quality.”

Financial capacity remains a major challenge: A government source told EnterpriseAM that “aligning with international ranking standards comes at a high cost, as universities must meet strict criteria.” The government is introducing policies to create self-financing mechanisms for universities and encouraging them to prioritize international rankings — since stronger rankings attract more foreign students and, in turn, greater financial resources, the source added.

Turning education into an export sector: The same source said the government aims to make higher education a contributor to Egypt’s FX inflows and a driver of growth. “The plan is to position Egypt as a regional higher-education hub through policy reforms, marketing, and promoting educational tourism using Egypt’s improved global rankings,” the source said.


NOVEMBER

16-19 November (Sunday-Wednesday): Cairo ICT 2025, Egypt International Exhibition Center.

16-19 November (Sunday-Wednesday): The 12th edition of the Digital Payments and Financial Inclusion Exhibition and Forum (PAFIX 2025), Egypt International Exhibition Center.

20 November (Thursday): Monetary Policy Committee meeting.

21 November (Friday): Egypt’s Entrepreneur Awards

23-25 November (Sunday-Tuesday): NEBU Expo 2025 gold and jewelry exhibition, Egypt International Exhibitions Center, New Cairo.

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

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

DECEMBER

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

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

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

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

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

EVENTS WITH NO SET DATE

Mid-2025: EGX launches sustainability index.

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

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

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

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

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

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

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

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

2025: The InterAcademy Partnership assembly.

2025: Nile Basin States Summit, Cairo, Egypt.

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

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

2026

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

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

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

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

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

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

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

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

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

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

2027

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

April 2027: Tenth of Ramadan dry port and logistics hub to begin operations.

EVENTS WITH NO SET DATE

2027: Egypt to host EBRD’s annual meetings for 2027.

2027: Egypt-EU Summit 2027

End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.

September 2028: First unit of the Dabaa nuclear power plant begins operations.

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