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Monday, 6 Jan 2025

What We're Tracking Today
Energy
Energy
Debt Watch
Last Night’s Talk Shows
Also On Our Radar
Planet Finance
Diplomacy
Blackboard
Calendar

USD 1.2 bn tranche from the IMF to arrive in state coffers in January

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Today at a glance

1

LAST NIGHT’S TALK SHOWS

USD 1.2 bn tranche from the IMF to arrive in state coffers in January, Kouchouk tells El Hadidi.
2

Energy

Gov’t greenlights 252 MW wind power expansion at Gabal El Zeit.
3

Energy

Hassan Allam and ACWA Power get government special approvals for 1.1 GW Gulf of Suez wind farm.
4

DEBT WATCH

B.TECH kicks off new year with EGP 1.6 bn securitized bond issuance
5

ALSO ON OUR RADAR

Onaelectric Industries to build EGP 500 mn factory to localize circuit breaker production.
6

ALSO ON OUR RADAR

National Bank of Egypt, Banque Misr extend issuance of record high CDs
7

PLANET FINANCE

Abu Dhabi’s Mubadala was the world’s biggest-spending SWF in 2024.
8

BLACKBOARD

What is the government’s plan to improve basic and higher education in 2025?

Monday, 6 Jan 2025

What We're Tracking Today
Energy
Energy
Debt Watch
Last Night’s Talk Shows
Also On Our Radar
Planet Finance
Diplomacy
Blackboard
Calendar
1

What We're Tracking Today

Yields on short-term gov’t debt fall as investors rush back into local debt

Good morning, folks. In an otherwise quiet day in local business and economy news, Lamees El Hadidi’s sit down with Finance Minister Ahmed Kouchouk and the government greenlighting wind farm projects are leading today’s issue of EnterpriseAM Egypt. We’ve got the rundown on these stories and more in the news well below.

FROM THE DEBT MARKETS-

Investors kicked off 2025 with a rush back into Egyptian t-bills, with last Thursday’s heavily oversubscribed auction by the Central Bank of Egypt seeing the weighted average yield on six-month t-bills dropping a whole 2.52 percentage points to 27.26% and those for year-long bills down 0.21 percentage points to 26.02%, according to data from the central bank.

Remember: Holdings of our short-term debt took a dip during the tail-end of last year, with experts suggesting that investors were opting to maximize their year-end profits rather than roll over their positions as the year came to a close. While many anticipated the new year to see investors pile into our long-term debt — particularly amid widespread expectations that the CBE will begin cutting interest rates in 1Q — it seems that our short-term debt remains attractive for investors of all stripes.

PSA-

Don’t forget that tomorrow’s off in observance of Coptic Christmas, with private and public sector workers entitled to a day of paid leave — or a day of work with double the pay if your employer needs you on the clock, the Labor Ministry clarified.

EnterpriseAM Egypt will also be taking a one-day break from your inboxes, but we will be back bright and early on Wednesday with a rundown of everything you need to know to keep yourself up to date on the local business news cycle.

WEATHER- Expect cloudy skies and the chance of light rain in Cairo today, with a high of 20°C and a low of 11°C, according to our favorite weather app.

Scattered showers are on the horizon in Alexandria, with temperatures reaching a high of 20°C and a low of 14°C.

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

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

HAPPENING TODAY-

Will Egypt’s non-oil private sector break its three-month contraction streak? Egypt’s Purchasing Managers’ Index (PMI) for December is set to be released by S&P Global this morning, offering a read on the health of the non-oil private sector.

November’s numbers showed signs of stabilization, rising to 49.2 from 49.0 in October — leaving us just below the 50.0 mark that separates growth from contraction and marking the highest figure since August when the sector briefly entered growth territory after three years of contraction.

DATA POINT-

Egypt imported 14 mn tons of wheat in 2024, up 40% y-o-y, Al Arabiya reports, citing unnamed government sources. The rise was driven by higher private sector purchases — which grew by 63% y-o-y to 7.5 mn tons — and the government’s efforts to build up its strategic stockpile — which saw former state grains buyer GASC import 6.5 mn tons in 2024, up 20.3% y-o-y.

Missed this week’s Inside Industry? In our weekly vertical exploring all things industry and manufacturing, we spoke to industry players about why they think 2025 holds a lot of potential for the sector and the ongoing challenges they will face. Check out the story here.

THE BIG STORY ABROAD-

It’s another mixed bag in the foreign press this morning, with updates on yet another round of Israel-Hamas ceasefire talks, a powerful US winter storm, and Nippon Steel’s blocked USD 15 bn bid for US Steel getting plenty of ink.

#1- Reuters and Bloomberg are both leading with US President Joe Biden’s blocking of Nippon Steel’s USD 15 bn bid for US Steel. Bloomberg took note of Nippon Steel’s shares slipping in the first day of trading following Biden’s announcement, and Reuters has an exclusive on another headwind that had been facing Nippon Steel, as the CEO of steelmaker Cleveland-Cliffs — which also made a failed bid for US Steel in 2023 — spread doubt over the transaction in the months leading up to Biden’s blocking of the bid. The newswire also looks at potential scenarios following Biden’s blocking, including the potential impact on US-Japan relations.

#2- Israeli and Hamas officials are still at odds in the latest round of ceasefire talks, which took place in Doha yesterday, after Hamas said it handed over a list of hostages it is prepared to return in exchange for the promise of a ceasefire and Israel’s withdrawal, France24 reports. Israel denied it received a list, even though Reuters says it has seen the list which was handed over by Hamas. The talks came against the backdrop of another brutal weekend in Gaza, with over 100 killed in airstrikes and bombardments.

#3- The US has been hit by a powerful winter storm, disrupting travel and prompting speculation over potential delays in government operations on the day where Congress is set to certify the results of the elections in November and formalize president-elect Donald Trump’s victory ahead of his inauguration on 20 January. US lawmakers confirmed the meeting will take place as planned. (WSJ | Axios | Reuters)

*** 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 took a look at the Education Ministry and Higher Education Ministry plan to transform Egypt’s education system into a private sector-friendly and investment-friendly ecosystem, along with their roadmap for 2025 to expand universities, enhance basic education infrastructure, and boost Egypt’s appeal as an education destination for international students.

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Somabay Golf is leading the way in sustainable golf.

Somabay Golf Course has become the first golf course in Egypt and one of only four in Africa to earn the prestigious GEO Certified® status. This global recognition highlights Somabay’s leadership in sustainability, with initiatives like solar-powered desalination, wastewater treatment, modern irrigation systems, and eco-friendly grass.

This milestone underscores Somabay’s commitment to sustainable excellence and its position as a premier sports destination.

2

Energy

Gov’t greenlights 252 MW wind power expansion at Gabal El Zeit

A plan to increase Gabal El Zeit’s production capacity by 43.5% is in the works: The New and Renewable Energy Authority (NREA) has received government approval to build a 252 MW wind power extension of the Gabal El Zeit wind farm, a government source told EnterpriseAM. The energy produced from the project will be fed into the national grid, our source added.

Remember: The 580 MW — at least for now — Gabal El Zeit wind farm has long been on the government’s privatization short list, with unconfirmed reports in October saying that ongoing negotiations between the Madbouly government and UK-based private equity giant Actis to purchase the wind farm could wrap up by the end of 2024. The negotiations reportedly revolved around the state’s desire to increase the value of the acquisition — which the IMF projected in March to be around USD 339 mn.

News of big ticket renewables investments are set to become more commonplace, with the government’s plan to source 42% of its energy from renewables by 2030 requiring big investments in the sector. To this aim, there’s a plan to launch renewable projects with a combined capacity of 10 GW and combined investments of USD 10 bn from 2023-2028 under the government’s Nexus for Food, Water, and Energy initiative (NWFE), Planning and International Development Minister Rania Al Mashat said last month

** We recently did a rundown of investments, initiatives, and challenges that defined the green economy in 2024. Check out the story here.

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3

Energy

Hassan Allam and ACWA Power get government approval for 1.1 GW Gulf of Suez wind farm

The Gulf of Suez’s mega 1.1 GW wind farm takes another step forward: The government has given its approval for Saudi renewables giant ACWA Power and local energy and infrastructure leader Hassan Allam Utilities to establish their much-anticipated 1.1 GW wind farm in the Gulf of Suez, a government source told EnterpriseAM.

The details: The first of the project’s two phases will see the firms establish 550 MW worth of capacity in Ras Shukeir, with the second phases set to see an additional 550 MW installed in Ras Ghareb. Each phase is expected to take a year to complete, with ACWA holding a 70% stake in the project and HAU holding the remaining 30%.

ICYMI: The European Bank for Reconstruction and Development last month approved a USD 275 mn syndicated loan for the project, with the companies reportedly set to secure close to USD 900 mn in financing by the close of 2024 for the previously estimated USD 1.2 bn project..

When operational, the project will be a big boost to our energy production and green transition targets, with the project set to offset 2.2 mn tons of carbon dioxide annually and produce enough power for nearly 1.1 mn households. The wind farm’s 1.1 GW capacity will mark it as the largest wind project in both Africa and the Middle East.

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4

DEBT WATCH

B.TECH wraps up EGP 1.6 bn securitized bond issuance

B.TECH kicks off the new year by hitting the securitization market: B.TECH has closed an EGP 1.6 bn securitized bond issuance, according to a statement(pdf) from the electronics retailers’ legal advisors Matouk Bassiouny & Hennawy. The issuance is the second of a wider EGP 5 bn securitization program.

Who made it happen? MBH acted as legal counsel, with Mohamed Abdel Fattah and Imane Raouf leading the team. CIB was the financial advisor, EGBank the custodian, Russel Bedford the auditor, and Middle East Rating & Investors Service as the rating agency.

DATA POINT- These issuances bring the total value of securitized bonds issued in Egypt this year to EGP 7.1 bn thus far according to data tracked by EnterpriseAM. During the same period last year, we didn’t pick any issuances.

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5

LAST NIGHT’S TALK SHOWS

Kouchouk lays out what’s next for Egypt’s economy with Lamis El Hadidi

Egypt’s IMF loan, government IPO plans, and debt took center stage in Finance Minister Ahmed Kouchouk’s interview with Lamees El Hadidi on Kelma Akhira, which dominated last night’s talk show discussions (watch, runtime 49:40).

Egypt is poised to secure a USD 1.2 bn disbursement from its USD 8 bn IMF loan later this month, according to Kouchouk, who dismissed speculation that Cairo had sought to increase the program’s size. The announcement follows a staff-level agreement with the IMF in late December, clearing the path for the long-delayed fourth review of the loan program and the release of the next tranche.

The government is also looking to raise USD 3 bn from the global debt markets in the first half of the year, with Kouhouk explaining to El Hadidi that “we will return to the global debt market with various issuances that appeal to different types of investors, but with relatively small volumes.”

Privatization will also help raise funds this year, with three or four companies set to be offered up before the end of the fiscal year at the end of June, the finance minister said. The companies — including military-owned firms — will be offered up either to strategic investors or on the EGX through an IPO. Kouchouk’s comments follow Prime Minister Moustafa Madbouly announcement last month that 2025 will see the government offer up stakes in ten companies.

But Kouchouk was keen to express his concern over Egypt’s USD 152 bn of external debt, pledging to reduce it by USD 2 bn annually to ensure borrowing remains below repayments. Some USD 16 bn in external debt repayments are due this year, 80% of which will be covered by real and additional resources, with the remaining 20% coming from concessional loans from international development institutions. The government is targeting a public debt-to-GDP ratio of around 85% by the end of the current fiscal year.

The minister also teased a new initiative to convert cars to run on natural gas that will be announced next week, which will see the Finance Ministry cover 70% of the roughly EGP 17-17.5k conversion cost.

Some corners of the international press also picked up Kouchouk’s comments: Reuters.

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6

ALSO ON OUR RADAR

Onaelectric Industries to give circuit breaker localization a boost with new factory. PLUS: Nawy + ROA, Banque Misr + National Bank of Egypt, NowPay + United International Holding Company, Target HR + ManpowerGroup

MANUFACTURING-

Local electrical equipment manufacturer Onaelectric Industries wants to invest EGP 500 mn in a new circuit breaker factory, set to be built in Tenth of Ramadan City and be operational starting early 2026, the company’s sales director, Ahmed Hamed, told Al Borsa. The Industrial Development Authority has allocated a 10k sqm plot for the factory, which will manufacture products using up to 100% local inputs and export 70% of output.

The project is set to be the first factory of its kind in the country to locally produce circuit breakers with local components, Hamed told the outlet. The government is aiming to localize 152 industries by 2030 in sectors including, a government source previously told EnterpriseAM, which likely includes circuit breakers.

Expansion abroad is also part of the game plan, with the company aiming to invest USD 15 mn to establish a factory in China and another in Europe over the next five years.

BANKING-

Egypt’s two largest banks will continue issuing record high-interest certificates of deposits (CDs), with the state-owned National Bank of Egypt (NBE) and Banque Misr deciding to extend the issuance of their 27% and 23.5% CDs after the initial issuances’ maturity expired yesterday. The two banks had been considering replacing the CDs with those with a lower return in May of last year, while the country’s largest private sector bank CIB became the first bank to lower rates on high-interest CDs in June following the 600 bps hike and float of the EGP in March.

PROPTECH-

Local proptech Nawy will soon acquire property management company ROA in its bid to launch Nawy Unlocked — a new service “designed to help property owners generate income from unused or unfinished properties,” the company said in a statement (pdf). The cost of the acquisition was not disclosed.

Nawy is also in negotiations with seven banks for its Nawy Now service, which focuses on real estate financing, Nawy CEO Mostafa El Beltagy told Al Borsa. El Beltagy did not reveal the size of the financing they are looking for.

DIGITIZATION-

The National Food Safety Authority has launched its new Unified RegistrationPortal to facilitate the process of registering food establishments, with the platform available via your smartphone, according to a statement from the authority.

EXPANSION-

#1- Local fintech NowPay will set up a payroll company in KSA with Saudi United International Holding Company under an MoU inked between the two, according to a disclosure to the Tadawul. The JV will be set up with an initial investment of SAR 75 mn, with United International Holding holding a 75% stake and NowPay owning the remaining 25%.

#2- Egyptian HR services firm Target HR will now operate under the Manpower brand under brand licensing agreement with global staffing firm ManpowerGroup, according to a joint statement (pdf). The newly branded firm — to be dubbed Manpower Egypt — will offer services including temporary and permanent staffing, tailored HR services for Egypt and talent management, and combine “local expertise with global best practices to deliver world-class HR and staffing solutions,” according to the statement.

TOURISM-

The Egyptian Tourism Federation has formed a new committee to tackle tourism services and programs being sold below the cost price, the federation said in a statement. The committee — aimed at maintaining the sector’s competitiveness and stabilizing the market — will have representatives from the Tourism Ministry, tourism chambers, and legal and regulatory bodies. It will investigate complaints, requiring evidence of violations and supporting documents, with decisions to be escalated to the federation's chairman for legal action.

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7

PLANET FINANCE

Abu Dhabi’s Mubadala was the world’s biggest-spending SWF in 2024

Abu Dhabi’s Mubadala Investment was the lead sovereign wealth fund (SWF) investor in 2024, deploying USD 29.2 bn across 52 transactions — rising 67% y-o-y, according to research consultancy Global SWF’s 2025 report (pdf). The story got ink from Reuters and Bloomberg.

Mubadala topping the league means it overtook Saudi’s Public Investment Fund (PIF), which fell one spot in 2024 from the top rank the previous year. PIF’s ranking dip came as it shifted its spending focus towards domestic projects and cut outlays 37% y-o-y to USD 20 bn.

And the rest of the Oil Five weren’t far behind: Abu Dhabi-based ADIA and ADQ, as well as Qatar’s QIA — which, together with Mubadala and PIF are known as the “Oil Five” — all made it to the top 10 SWFs by investment value, shelling out a record-breaking USD 82 bn in new investments.

Differing investment tastes: GCC funds showed a tendency for investments in emerging markets — including their own domestic economies — but global SWFs maintained a preference for developed markets, the report explained.

Combined, the region’s funds accounted for 38% of the total USD 13 tn in assets under management (AUM) of SWFs worldwide, benefitting from high oil prices and strong financial markets, despite headwinds from geopolitical tensions.

GLOBALLY- China and Norway continued to top the SWF scene in 2024, accounting for 20% and 14% AuM worldwide, while Southeast Asian funds held another 10%, the report said. Norway remained home to the world’s largest SWF — Norges Bank Investment Management — with USD 1.8 tn in AuM.

State-owned investors (SOIs) also broke records in 2024, logging USD 55 tn in AUM. The category’s assets are projected to hit USD 60 tn this year and USD 75 tn in 2030 as GCC economic agendas drive growth in assets.

Sovereign funds around the world invested heavily in digital infrastructure, data centers and AI startups such as OpenAI and xAI, driven by rapid AI adoption. GCC funds also went all in on AI in 2024, with the UAE, Saudi, and Qatar vying to position themselves as prospective AI hubs, Reuters noted.

MARKETS THIS MORNING-

Asian markets are mixed following the release of PMI figures, with Hong Kong’s Hang Seng opening higher before slipping marginally, and China’s CSI 300 losing 0.2%. Japan’s Nikkei is also down, as is the Topix, while South Korea’s Kospi is up 1.5% despite political uncertainty following the failed arrest of impeached president Yoon Suk Yeol.

On Wall Street, futures are also telling a mixed story ahead of the first full week of trading in 2025, with Nasdaq and S&P 500 futures up slightly and Dow Jones futures down.

EGX30

30,184

+0.4% (YTD: +1.5%)

USD (CBE)

Buy 50.63

Sell 50.76

USD (CIB)

Buy 50.66

Sell 50.76

Interest rates (CBE)

27.25% deposit

28.25% lending

Tadawul

12,070

-0.3% (YTD: +0.3%)

ADX

9323

+0.01% (YTD: -1.0%)

DFM

5127

-0.5% (YTD: -0.6%)

S&P 500

5942

+1.3% (YTD: +1.0%)

FTSE 100

8224

-0.4% (YTD: +0.6%)

Euro Stoxx 50

4871

-0.9% (YTD: -0.5%)

Brent crude

USD 76.51

+0.8%

Natural gas (Nymex)

USD 3.35

-8.4%

Gold

USD 2654.70

-0.5%

BTC

USD 98,398.20

+0.04% (YTD: +5.3%)

THE CLOSING BELL-

The EGX30 rose 0.4% at today’s close on turnover of EGP 2.5 bn (37.1% below the 90-day average). Regional investors were the sole net sellers. The index is up 1.5% YTD.

In the green: El Sewedy Electric (+8.4%), Cleopatra Hospitals (+3.7%), and Telecom Egypt (+2.6%).

In the red: B Investments (-2.0%), Beltone Holding (-2.0%), and Egyptian Kuwaiti Holding -EGP (-1.6%).

CORPORATE ACTIONS-

Emaar Misr’s board voted to increase its issued capital by EGP 917.6 mn to EGP 5.4 bn, with the proceeds of the capital increase fully allocated to shareholders of Albro North Coast for Developments, according to an EGX disclosure (pdf). The company’s extraordinary general assembly approved its acquisition of property developer Albro in July.

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8

Diplomacy

FM Abdelatty and US’ Blinken discuss Gaza and Syria in phone call

Abdelatty discusses Gaza and Syria with US counterpart: Egyptian foreign minister Badr Abdelatty and US Secretary of State Antony Blinken discussed regional diplomatic developments in Gaza and Syria in a phone call Saturday, the ministry said in a statement. Abdelatty stressed the urgency of efforts to achieve an immediate ceasefire in Gaza and deliver humanitarian aid, condemning Israel’s ongoing attacks in Gaza. He also reaffirmed Egypt’s solidarity with the Syrian people, emphasizing the need for a nationally led political transition to preserve the country’s unity.

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Our weekly deep dive into education in Egypt, from K-12 to post-secondary.

Published every Monday in EnterpriseAM.

Read Blackboard
9

BLACKBOARD

What is the government’s plan to improve basic and higher education in 2025?

Our education ministries have big plans for the new year: The Education Ministry and Higher Education Ministry aim to continue transforming Egypt’s education system into a private sector-friendly and investment-friendly ecosystem. Their roadmap for 2025 includes expanding universities, enhancing basic education infrastructure, and boosting Egypt’s appeal as an education destination for international students.

HIGHER EDUCATION IS IN EXPANSION MODE-

Our universities came out of 2024 looking pretty good: The number of Egyptian universities included in the Times Higher Education (THE) World University Rankings — one of the three authoritative global ranking systems — climbed to 47 in 2024, up from 38 the year before. The total number of higher education institutions has grown to 250, including public, private, national, and international universities.

In 2025, it’s all about expanding capacity: The ministry aims to further expand the number of universities in part by adding more national universities, with an eye toward ensuring the equitable geographic distribution of educational institutions. The goal is to increase enrollment, provide high-quality education aligned with international standards, and meet student needs in various regions.

Global partnerships and foreign campuses are on the rise: The ministry also plans to expand collaboration with top international institutions, fostering cross-border education and positioning Egypt as a regional hub for transnational higher education.

Technology universities are also in the pipeline: The ministry has already broken ground on 17 new technology universities, according to local reports, with hopes to set up a technological university in each governorate by 2030. The aim is to train graduates in industrial and technical fields that are aligned with market needs, and boost collaboration between academia and industry.

Incentives for private players: The Higher Education Ministry is working on policies to attract private-sector investment by creating a supportive environment, providing necessary infrastructure, and offering incentives — like golden licenses.

A comprehensive digital transformation plan for Egyptian universities: The Higher Education Ministry plans to continue working on the digital transformation of higher education and implementing a comprehensive strategy for digitizing universities. This aligns with the seven principles of the national higher education and scientific research strategy.

Key pillars of the plan include building and developing a centralized digital infrastructure, enhancing the skills of a new generation of graduates, and creating smart, efficient higher education institutions. The ministry will also continue its Digitally Secure Higher Education initiative, which trains staff in technology, provides an interactive e-learning environment, and offers free cloud computing services for faculty members and researchers.

Ramping up efforts to attract international students: The ministry plans to double down on attracting international students to study at Egyptian universities, with the government aiming to see 200k international students enrolled in Egyptian universities in 2030. There are also plans to coordinate with Egyptian cultural and educational offices abroad, and enhance the global standing of Egypt’s educational and research institutions.

This would provide us with a much-needed source of FX: If the government reaches its goal, it could mean up to USD 2 bn in education tourism revenues.

The ministry will also simplify application processes via the Study in Egypt portal and reinforce efforts to position Egypt as a leading educational destination in Africa and the Middle East.

Cairo University’s recent uptick in int’l student enrollment is a case in point: The total number of new international students across all academic stages at Cairo University reached some 30.5k in 2024, compared to 24.5k in the previous year — marking a nearly 20% increase, according to the university’s website.

From classrooms to boardrooms: The ministry is prioritizing innovation and entrepreneurship by turning research outputs into economically valuable products. This is being achieved through initiatives led by affiliated entities such as the Science and Technology Development Fund, the Academy of Scientific Research and Technology, and the Innovators Support Fund.

PLUS- Foundation year launches in 2025: Private and national universities are rolling out a foundation year program that will allow students who didn’t meet entry requirements for their desired faculties to take an introductory foundation year to prepare them for undertaking an undergraduate degree.

PRE-UNIVERSITY EDUCATION IN NEED OF SOLUTIONS-

Basic education still faces major hurdles despite progress in higher education: While significant support to Egypt’s higher education sector has borne significant fruit in recent years, basic education still needs substantial reforms to meet growing demand. One of 2025’s key priorities is to improve basic education through increased private sector participation, building more classrooms, and hiring more teachers.

The need is there: Prime Minister Moustafa Madbouly last year noted that Egypt needs to build 40-50k new classrooms annually — each costing around EGP 1 mn — to accommodate a rising number of students. This translates into a budgetary requirement of EGP 50 bn annually.

Private sector involvement is critical to solving overcrowding: Granting private players more opportunities and incentives, particularly related to land allocation, is essential to addressing classroom overcrowding, deputy chairman of the Private School Owners Association Badawy Allam previously told EnterpriseAM. He also emphasized the importance of flexibility in applying minimum wage requirements, providing low-cost financing, and addressing outstanding legislative issues, which remain key discussion points for 2025.

Teacher shortages persist: Egypt’s basic education sector faces an acute shortage ofteachers, with a gap of almost 470k educators nationwide. The issue has become more pressing as the government has added 98k new classrooms to accommodate growing numbers of students.

Japanese and technological schools see growth: The number of Japanese schools in Egypt reached 58 by the end of last year, with plans to expand this to 1.7k by the end of fiscal year 2026-27. Meanwhile, technological schools have increased to 79 across 22 governorates, with the government targeting 420 schools by 2030.

AND- Arabic and history to be added to international school grading next academic year: The Education Ministry last year announced that it would include grades from Arabic, religious studies, history, and social studies to students’ end-of-year grades starting next academic year at international schools. A government source told EnterpriseAM that there would be no reversal of the decision, though the ministry is open to simplifying the content during the initial rollout.

Your top education stories for the week:

  • Badr University in Assiut has issued its first standalone future flow securitization worth EGP 500 mn, with EFG Hermes advising on the transaction. The bonds are backed by future revenues from the CIRA Education-owned university, according to a company statement. (Statement)
  • The Higher Education Ministry has been cracking down on unlicensed education establishments, with the Oxford Academy for Consulting and Specialized Studies in Fayoum being its latest target for falsely offering accredited degrees and training programs in fields such as media, healthcare, and business administration. (Statement)
  • Education Minister Mohamed Abdel Latif is in Qatar for the Conference of Arab Education Ministers, held from January 5–7, where he will showcase Egypt’s education reforms, including efforts to expand access, support teachers, and share strategies for crisis-resilient education. (Statement)
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CALENDAR

JANUARY

8 January (Wednesday): Trilateral summit between Cyprus, Greece, and Egypt in Cairo to focus on energy, regional security, economy, and technology

14 January (Tuesday): The 4th edition of the Egypt Economic Summit will take place.

15 January (Wednesday): Launch of Egypt’s first joint-stock ship waste management company in Port Said.

28 January (Tuesday): Nigeria to inaugurate the USD 5 bn Africa Energy Bank in Abuja

28-29 January (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

Early January 2025: Health Ministry finalizes partnership with Gustave Roussy to operate Dar El Salam Hospital.

January: CBE to launch InstaPay remittances for Egyptians abroad

January: Building permit applications in Egypt's new cities will go online

January 2025: Accor Group to open Sofitel Cairo Downtown Nile, the world’s largest Sofitel.

January 2025: Egyptian National Railways to launch tender for Tanta-Mansoura-Damietta railway line upgrades

January 2025: Food products will require food safety and validity certificates from the National Food Safety Authority (NFSA)

January 2025: Bavarian Delegation visit to Egypt

FEBRUARY

BP to bring the second well of its Raven natural gas project online, with additional production capacity expected.

Orascom Pyramids Entertainment to bring total investments in the Pyramids Plateau to EGP 1.5 bn.

Subscription period for Your Home in Egypt initiative opens.

2 February: Energy Day Conference, Cairo, Egypt.

17-19 February (Monday-Wednesday): EGYPES Technical Conference, Egypt International Exhibition Center, Cairo, Egypt.

18-19 February (Saturday-Sunday): German-Egyptian Joint Economic Committee meetings, Cairo, Egypt

20 February (Thursday): Monetary Policy Committee's first meeting.

MARCH

Operation of phase one of the Amotope wind farm

Alwaad Investment to inaugurate a new cold beverage plant with an annual production capacity of 14.5 mn units.

Al Ahly Sabbour to finalize preparations for its EGX listing, offering 20-25% of its shares, with an advisor to be tapped in early 2025.

March-April 2025: The government plans to start collecting taxes on capital gains from EGX transactions.

APRIL

Saxony Delegation visit to Egypt.

Egypt to launch trial operations of the first phase of its USD 1.8 bn Egypt-Saudi electricity interconnection project, ahead of schedule

Tahya Misr 1 container terminal to begin operations, adding 3.5 mn container capacity to the port.

7-10 April 2025 (Monday-Thursday): EFG Hermes One on One conference, Dubai, UAE

17 April 2025 (Thursday): Monetary Policy Committee’s second meeting.

28-30 April 2025 (Monday-Wednesday): FDC Regional Digital Industry Summit will launch cybersecurity index.

MAY

22 May 2025 (Thursday): Monetary Policy Committee’s third meeting.

May 2025: Egyptian Exporters Association (Expolink) exhibition, Italy

May 2025: French rolling stock manufacturer Alstom will submit technical and financial bids for Cairo Metro Line 6

JUNE

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

June 2025: Nissan and Honda finalise talks about possible merger to create the world’s third largest automobile company by sales.

June 2025: Coficab to complete its USD 88 mn automotive cable and electrical factory in Tenth of Ramadan City

JULY

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

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

July 2025: Etihad Airways to launch twice-weekly flights to Alamein

July 2025: Israel to begin increasing gas exports to Egypt from Chevron’s offshore Tamar field

AUGUST

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

August 2025: Tourism Development Authority to waive late payment penalties for land purchases if full installments are paid

SEPTEMBER

September 2025: Egypt Education Platform (EEP) to launch two new schools in Alexandria and Somabay

September 2025: Egypt Otsuka’s nutritional products factory in Tenth of Ramadan to begin operations, with exports to Gulf countries expected by January 2026

OCTOBER

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

NOVEMBER

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

DECEMBER

25 December 2025 (Thursday): Monetary Policy Committee’s eighth meeting.

December 2025: Taqa Arabia and Voltalia to complete studies for repowering the 545-MW Zafarana wind farm with 1.1 GW of wind and 2.1 GW of solar power

EVENTS WITH NO SET DATE

Early 2025: ADQ to break ground on the development of Ras El Hekma

Early 2025: Al Ismaelia to begin working on two new hotels and hotel apartments in Downtown Cairo.

Early 2025: The Communications Ministry will unveil the second edition of its national AI strategy in early 2025

Early 2025: The Suez Canal Authority to launch an IPO for the Canal Company for Mooring and Lights (CCML) on the EGX.

Early 2025: Orange Egypt to launch 5G services, with EGP 10 bn planned for network upgrades.

Early 2025: BP to begin drilling at the King Mariout Offshore concession.

Early 2025: Jinbei Royal Egypt to begin local assembly of 3k Jinbei vehicles, including the country’s first electric cargo van and microbus

1Q 2025: The Egyptian-Italian business forum

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

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

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

1Q 2025: Egypt to sign trade agreements with Bahrain and UAE to slash customs clearance times

1Q 2025: Government to launch EUR 271 mn green industry program to cut emissions

1Q 2025: Egypt-Azerbaijan joint committee to meet to bolster trade and investment ties

1Q 2025: Turkish Automotive Manufacturers Association and Turkish Contractors Association to visit Egypt following an invitation from the Investment Minister

1Q 2025: One of four companies, including Abu Qir Fertilizers, Mopco, Egyptian Petrochemicals Holding Company, and a Saudi-affiliated firm, to be selected for the USD 450 mn redevelopment of Delta Fertilizers

1Q 2025: GV Auto to begin local production of FAW Group’s cheapest EV model.

1Q 2025: Alkan Auto to launch BAIC subsidiary Arcfox’s EVs to the market.

1Q 2025: Dynamic Distribution to launch a new competitively-priced Fiat model in Egypt.

1Q 2025: BP to drill two USD 160 mn exploratory gas wells in the West Delta.

1Q 2025: Port Said for Engineering Works to begin construction on a USD 80 mn aluminum foil factory in the SCZone, targeting initial production of 60k tons annually.

1Q 2025: Pearl Polyurethane Systems to start production at its EGP 100 mn polyurethane factory in the Sokhna Industrial Zone.

1Q 2025: Sumitomo Electric to officially open its EUR 22 mn cable factory in Tenth of Ramadan, with production set to begin next month.

1Q 2025: Construction of the USD 600 mn natural gas treatment plant in the Western Desert’s Meleiha concession to wrap up, followed by a pilot run.

1Q 2025: El Araby Group and Sharp to break ground on a USD 50 mn fridge and freezer manufacturing plant in the Quweisna zone.

1Q 2025: Hangzhou Henneway Travel Goods to begin production at its USD 50 mn factory in the West Qantara Industrial Zone

1Q 2025: BP to drill two USD 160 mn exploratory gas wells in the West Delta

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

2Q 2025: Safaga Terminal 2 to start operations

2Q 2025: Hassan Allam to build infrastructure for AD Ports' Noatum terminal at Safaga

2Q 2025: Hassan Allam to build infrastructure for AD Ports' Noatum terminal at Safaga

2Q 2025: EgyptSat Auto to start production at its EV factory in Tenth of Ramadan City

3Q 2025: AMEA Power to bring 500 MW Amunet wind farm online in Ras Ghareb

4Q 2025: Abou Ghaly Motors to introduce the Subaru Solterra to the market

4Q 2025: Two new projects in food manufacturing and home textiles to begin operations in the Qantara West Industrial Zone

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

1H 2025: The Egyptian-US Investment Forum.

1H 2025: Internal Trade Development Authority (ITDA) to establishfour logistics zones with EGP 18-20 bn investments

1H 2025: Internal Trade Development Authority (ITDA) to establishfour logistics zones with EGP 18-20 bn investments

1H 2025: Natco to launch Chinese firm Neta Auto’s EV models.

1H 2025: OCI Global to complete the sale of its entire methanol business to Methanex for USD 2.05 bn.

1H 2025: Egypt and the UAE to begin construction of a USD 3 bn petroleum logistics zone at Al Hamra Port

1H 2025: HoldiPharma to list 25-30% stakes in Misr Pharma and Chemical Industries Development (CID) on the EGX

1H 2025: Korra Energi to list up to 20% stake on the EGX

1H 2025: Smart Villages Development and Management Company plans to list 30-35% of its shares on the EGX

1H 2025: Halliburton to bring three gas wells online as part of the Burullus project.

1H 2025: Chevron to begin gas production from the offshore Nargis gas field, initially producing 600 mn cf.

1H 2025: Nile Recycling to launch USD 20 mn PET recycling facility in Ain Sokhna, targeting an annual capacity of 22k tons and reducing carbon emissions by 40k tons

2H 2025: National Printing Company to make its EGX debut after delayed IPO plans

2H 2025: Tabarak Holding to list 30% of its shares on the EGX

2H 2025: Turkish apparel company Denim Rise to open a garment manufacturing facility

2H 2024: Hi-Tech Apparel to break ground on a USD 20 mn sportswear factory in the SCZone

2H 2025: Eni to drill two new wells in the Zohr field with USD 160 mn in investments

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

Mid-2025: SN Automotive to launch three locally assembled models — one electric and two gasoline-powered — in Egypt

Mid-2025: Suez’s USD 1.8 bn coal and diesel production complex, developed by Enppi and Petrojet, to be completed

Mid-2025: Wataneya and Safi to debut on the EGX

End of 2025: The Egypt Digital Industrial Platform will expand to include additional services for manufacturers, including the issuance of licenses, building permits, and industrial records

End of 2025: An unnamed Chinese company and the state-owned Arab Organization for Industrialization (AOI) to begin production at a USD 360 mn tire factory in the SCZone.

End of 2025: A consortium including Redcon Properties and Al Baraka Bank to launch a local real estate investment fund with over EGP 1 bn in initial investments

Late 2025: Baron Hotels to open a new hotel in Sharm El Sheikh and debut its first international property in Zanzibar with 150 luxury suites

2025: The InterAcademy Partnership assembly

2025: Nile Basin States Summit, Cairo, Egypt

2025: Release of the government’s Startup Charter document

2025: Nafeza to integrate air cargo into its digital customs platform, further streamlining trade logistics

2025: Africa50 completes 42.9% stake acquisition in Raya Data Centers for USD 15 mn to fund construction of a USD 35 mn Tier III data center.

2025: MM Group for Industry and International Trade is set to launch 16 new Tata vehicle models locally.

2025: China to issue USD 411 bn in special treasury bonds

2025: El Attal Holding to list 30-35% of its shares on the EGX

2025: The Administrative Capital for Urban Development (ACUD) to launch its EGX debut, offering 5-10% of its shares.**

2025: Basata Holding for Financial Investments to offer 25% stake on the EGX as part of a plan to double its capital to EGP 1.4 bn.**

2025: Hilton Cairo Nile Maadi to open early in the year, alongside debuts of Tapestry Collection and Curio Collection by Hilton.

2025: Palm Hills and Marriott to launch The Ritz-Carlton Residences in West Cairo, featuring 150 branded units across 45 acres

2025: Jaz Hotel Group to set up two new hotels in North Coast, two in Hurghada, and two in Marsa Alam

2025: Sunrise Resorts & Cruises to add 4k hotel rooms to its hotels capacity.

2025: Egyptian Petrochemicals Holding Company (ECHEM) to complete studies and kick off production of Egypt’s first sustainable aviation fuels (SAFs).

2025: Polaris Parks to begin development of the industrial park in New October City

2025: EgyptAlum to launch a USD 100 mn foil production line with a 50k-ton annual capacity

2025: Honor to begin operations at its proposed smartphone manufacturing facility in Egypt, with an initial investment of USD 10 mn

2025: Indorama and Phosphate Misr to begin implementation of the USD 400-500 mn phosphate fertilizers plant in Ain Sokhna

FY 2025-26: Egypt to issue its first EGP-denominated sovereign sukuk to finance public investments outside the general budget

FY 2025-26: The government to begin introducing cash-based subsidies on a trial basis in select areas of the country

2025-2027: EUR 4 bn in concessional loans to follow as part of a EUR 7.4 bn package

2026

Baron Hotels to launch two hotels in Egypt with 950 rooms, followed by another with 750 rooms.

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

2027

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

EVENTS WITH NO SET DATE

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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