USD crosses EGP 50 mark as CBE lets the pound dip on Iran war outflows

Wednesday, 4 Mar 2026

USD crosses EGP 50 mark as CBE lets the pound dip on Iran war outflows

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Today at a glance

Big Story Today

The CBE stays the course, allowing the EGP to hit 50 against the greenback and absorb fallout from the conflict in the GCC.

Privatization Watch

The privatization push is war-proof

Capital markets

The EGX is facing a risk-off wall.

Also on our Radar

Egypt ups Jordan power exports despite domestic energy squeeze.

Tech

UPDATE: AWS’ Mideast services are going to be down for a while…

Economy

Input costs hit nine-month high as firms sacrifice margins for volume.

Debt

Citizen Bonds’ EGP 2 bn first week debut is a warning to banks.

PLANET FINANCE

It’s the greenback’s time to shine.

HARDHAT

The national logistics infrastructure narrative shifts from laying asphalt to moving containers.

WHAT WE’RE TRACKING TODAY

A message of reassurance from Madbouly

Good morning, all. It’s another morning with the entire region on edge as missiles and drones continue flying over the Gulf. At home, we’re looking at the impact of it all on the EGP, our privatization push, and the bourse.

***

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

Watch this space

INVESTMENT — The General Authority for Investment and Freezones is moving ahead with plans for the country’s first private investment zone, according to a statement. The authority’s CEO Mohamed El Josky met yesterday with Elsewedy Electric heads to hammer out a framework that allows private developers to run one-stop-shop service hubs.

Why it matters: Unlike the 12 public investment zones the state already runs, the new private zones would allow private developers to host an on-site customs office. This removes the port-to-factory friction that currently eats into margins and delivery timelines. Simply put, it moves the border to the factory gate.

Setting the tone

Madbouly promises no power cuts or FX crisis as regional war escalates: The Madbouly government is moving to reassure the public and markets that Egypt is “better prepared” for the fallout of the widening regional war than it was during previous shocks. Speaking at a press conference yesterday (watch, runtime: 40:14 | 12:18), Prime Minister Moustafa Madbouly emphasized that proactive measures are in place to shield the economy from the volatility triggered by the regional conflict. Madbouly made it clear that despite the uncertainty, the state is no longer operating in “reaction mode,” adding, “We have not and will not see any interruption in gas supplies to factories or power cuts in the coming period.”

On the fiscal front, Madbouly stood firm on the resilience of the EGP and the availability of FX despite the “normal” outflow of hot money seen in emerging markets lately. He insisted that the CBE has sufficient reserves to maintain exchange rate flexibility. “We have the financial resources to secure any quantities of any goods for the state,” Madbouly said.

Market watch

The US Navy will escort oil tankers through the Gulf, US President Donald Tump said in a post on his Truth Social network. The US International Development Finance Corporation will at the same time provide ins. for oil tankers in the Gulf at a “very reasonable price,” he added.

“No matter what, the United States will ensure the free flow of energy to the world,” Trump added.

Easier said than done, experts say: While the rise of crude prices stalled briefly after Trump’s announcement, it will take weeks, not days, to get tankers moving again, experts warn.

Iran’s Revolutionary Guard says it has hit 10 oil tankers transiting the Strait of Hormuz, Al Arabiya reports.

** DID YOU KNOW that we cover Saudi Arabia, the UAE, and the MENA-IndiaCorridor?

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PSA-

WEATHER- Keep your heaters on and hot drinks close as cold weather lingers in Cairo today, with a high of 21°C and a low of 11°C, according to our favorite weather app.

It’s a bit chillier in Alexandria, with a high of 19°C and a low of 11°C.

The big story abroad

The latest on the escalating regional war continues to dominate the front pages, which we dive into in the news well, above.

MEANWHILE IN BUSINESS NEWS- The world's largest alternative asset manager Blackstone has seen its clients pull out USD 3.7 bn from its flagship BCred fund in 1Q 2026. The private credit sector is currently facing scrutiny over valuation and transparency. Rival investment group Blue Owl’s decision to halt redemptions also placed a strain on the sector.

AND- French media group Banijay Group is merging its TV production business with rival Alll3Media, forming a single entity — which will become the world’s largest independent TV producer.

*** It’s Hardhat day — your weekly briefing of all things infrastructure in Egypt: EnterpriseAM’s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education.

In today’s issue: We took a look at how the state’s logistics infrastructure plan for 2030 is moving beyond building to utilization and monetization.

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Moustafa Madbouly WHAT WE’RE TRACKING TODAY

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Hall 6.2B | Stand 317 — 3-5 March 2026

The Big Story Today

CBE holds the course, lets EGP hit 50 as war continues in the GCC

The Central Bank of Egypt is doing the right thing and letting the EGP take the hit. As foreign outflows from the local debt market topped USD 885 mn yesterday, the CBE refused to burn reserves to defend the currency, instead letting the EGP slide past 50 to the greenback. The decision makes Egypt expensive for foreigners leaving, and our assets more attractive to those looking to enter.

This is what a mature FX policy is supposed to be — a shock absorber for external events like the conflict now sweeping the GCC. Total outflows since late February are north of USD 4 bn now — the USD 885 mn figure yesterday was more than double the EGP 297 mn that hit the exit door on Monday.

Volumes reached USD 700 mn in the interbank market, but despite the pressure, the system held and every request was fulfilled.

Why this matters: The central bank’s actions have been a textbook example of exchange rate management, Ahly Pharos research head Hany Genena tells EnterpriseAM.

While the shock absorber strategy protects the central bank’s balance sheets, it puts a squeeze on the state treasury. Every time the EGP slips, the price the state has to pay to subsidize energy imports rises. The government has now earmarked an additional USD 2 bn for energy imports to help get us through this period.

To address the sudden uptick in energy costs, the government is looking to shift to a deferred payment model. We understand that talks are underway with international energy partners to increase shipments of natural gas with flexible, long-term payment schedules to keep the lights on without an immediate drain on the country’s FX reserves.

To help plug the financing gap, the government has entered early-stage talks with international financial institutions to secure concessional financing, our sources tell us. Discussions are underway with the IMF regarding a potential emergency mechanism for member states impacted by regional conflict. The talks also include the World Bank, African Development Bank, and other institutions to secure funding for emergency needs and mitigate the impact of expected price hikes on the state budget in case the conflict persists for a long period.

The big question for the next five weeks is whether the CBE will raise interest rates to defend the EGP. “The CBE should monitor developments over the next five weeks and allow the exchange rate to move flexibly,” Egyptian Society for Political Economy member Waleed Gaaballah tells us. The current exodus is a flight to safety (gold and US treasuries), not a reflection of the EGP’s yield, he argued.

“Any move to raise interest rates to support the EGP […] will cause confusion in the markets,” he added, suggesting that holding rates is preferable until the peak of imported inflation is absorbed.

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

Tags:

Central Bank of Egypt economy foreign exchange THE BIG STORY TODAY

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Privatization Watch

The privatization push is war-proof

Unfazed by the continuing conflict in the Gulf, the Madbouly government is pressing ahead with its IPO program with plans to list 20 state-owned companies this year, targeting USD 6 bn in proceeds, a senior government official told EnterpriseAM. To build momentum, 13 pharma, logistics, industry, and finance companies will file for temporary listings this month, giving them each six months to get their paperwork and finances in order before the actual trading begins.

The wildcard: Banque du Caire, the nation’s most-anticipated IPO in a decade, is on the runway for an April listing. We’d expect policymakers to pull back if valuations remain — or investor appetite dries up — in the face of a drawn-out war in the Gulf.

Misr Life Ins. has already completed its temporary listing on the exchange, with the government planning to put about 20% of its share up for grabs soon, we were told.

The government will also renew the temporary listings for Port Said Container & Cargo Handling and Damietta Container & Cargo Handling to push them toward the finish line. We were also told to expect additional stake sales in a number of already listed firms, including Heliopolis Housing and Development.

Why this matters: By pushing ahead with its plan to advance its privatization push through the EGX despite recent market volatility — after airstrikes on Iran kicked off a regional war on Saturday — the state is signaling that its reform agenda is here to stay, whatever the difficulties. Importantly, temporary listings open up a six-month window that will allow these companies to get IPO-ready in preparation for the return of more favorable market conditions.

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

Tags:

Egyptian Exchange IPO IPO watch Privatization privatization watch

Capital markets

The EGX is facing a risk-off wall

The EGX30 sprint to 60k is likely to take longer than some market participants initially expected as market sentiment shifts to “neutral” on Egyptian equities, marking a retreat from one of the year’s most ambitious targets. Al Ahly Pharos research head Hany Genena tells us that while the investment bank previously held a target of 60k — upgraded from an original 50k — the current landscape requires a change in posture.

Al Ahly Pharos is now advising clients to “hold incremental buying activity” and move to “increase the cash component in your portfolio.” This shift isn’t just a reaction to regional tensions or local volatility, but a response to a fundamental change in the global landscape where, for the first time in a long period, the USD is regaining its role as a safe-haven asset.

“The risk to Egypt’s capital market is two-fold,” Rumble Chief Equity Strategist Amr El Alfy tells us. El Alfy notes that a “risk-off mode will mean foreign investors will likely exit emerging markets, including Egypt, if tensions linger,” while simultaneously, “higher risk premiums across the globe will mean lower valuations for both stocks and fixed-income instruments.” This pressure is already manifesting in the behavior of foreign and Arab investors, who have turned into net sellers.

El Alfy identifies two distinct cohorts driving this exit — those who view the conflict as short-lived and may remain in “EGP-denominated [banknotes] or Treasuries,” and a second group that may “opt to exit the market altogether for the time being” to park capital in “gold or US Treasuries.”

Both strategists agree that regional alternatives offer little protection in the current climate. Genena notes that “Saudi Arabia is not a safe haven at all,” adding that despite efforts to diversify, it remains an “oil-dominated economy.” El Alfy concurs, stating that “all GCC countries, including Saudi Arabia, are in the line of fire during this conflict.” He warns that even if oil prices remain elevated, the “closure of the Strait of Hormuz will limit Saudi Arabia’s oil exports, depriving it [of] any windfall.” This leaves investors with few regional hedges, as even the Gulf’s largest markets are likely to “feel the brunt of investors turning into a risk-off mode.”

El Alfy expects asset and portfolio managers to “underweight the market’s high-beta stocks” and pivot toward “low-volatility stocks to ride the current volatile wave.” Genena similarly suggests that those who must remain in the market should focus on equities “classified as blue chips [...] large caps and liquid and financially stable.” In the fixed-income space, the preference is shifting toward “short-duration instruments,” particularly if the market believes the CBE will “pause its monetary easing cycle in the coming MPC meeting.”

Despite the immediate gloom, there’s a shared expectation that the current period of high friction will be relatively brief, with Genena anticipating it to end within “two, three, four weeks.” Once the geopolitical dust settles, he anticipates a dramatic shift in energy markets. Due to a massive global oversupply of “3 to 4 mn barrels” per day, Genena expects oil prices to “crash, not fall” after the tensions are over.

For an energy-importing nation like Egypt, this eventual collapse in crude prices would provide significant relief, allowing the country to “maintain its momentum throughout the rest of the year.”

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

Tags:

capital markets EGX financial politics

Tech

UPDATE: AWS’ Mideast services are going to be down for a while…

Don’t expect Amazon Web Services’ (AWS) Middle East data centers to come back online anytime soon. That’s the message from the company’s health dashboard for clients. AWS said on Monday that it would be “at least a day” before it could restore power and connectivity, but it has since stopped giving updates on timeline.

Where things stood as of late last night: The recovery is grinding forward, but its services in the region are far from operational. AWS said overnight that its core S3 storage service was showing improvement for new data, but still can’t reliably pull information that clients stored before the strikes — so anything you had on their services before Sunday is still inaccessible.

Most of its other regional services are impaired: A key database service is also down, and the combination of that and the S3 outage is cascading across other AWS services that companies big and small have traditionally relied on to run websites, apps, and other core business services.

WHY IT MATTERS- A who’s who of business relies on AWS. Case in point: ADCB’s website says this morning that its app and contact center are still down. Other services that have been hit by disruptions are coming back to life as they move to other AWS cloud facilities in Europe, the US, and Asia. Careem, Talabat, Alaan, trading app Sarwa, and Hubpay were all hit with service outages or degraded performance, but are now back up and running. Our website, EnterpriseAM.com, is back online this morning after we moved to a new AWS jurisdiction and manually restored missing data from our local systems.

We now know more about what happened: Two AWS data centers in the UAE were hit by drone strikes and a third facility in Bahrain was also damaged by a drone hit. Amazon spent the first 24 hours of the outage saying only that “objects” had caused “sparks and fire.” The strikes caused structural damage, knocked out power, and triggered fire suppression systems that caused water damage.

AWS is telling customers in the Middle East to get out of Dodge, saying it “strongly recommends” that clients move to US, European, and Asia Pacific regions. The company is also signaling that it doesn’t want to talk much about the issue, saying that from now on it’s going to be communicating “directly with affected customers” instead of posting public updates.

REMEMBER- As we wrote earlier this week, the episode is a stress test for the Gulf’s AI pitch as it collides with wartime reality. Analysts told us this week that in the compute era, data centers rank alongside pipelines as strategic infrastructure. Multi-regional deployment is no longer optional, Engagesoft’s Tareq Tahboub said, while Rimal’s Houssam Salem flagged the risks of hyperscale centralization. AWS itself now warns the broader operating environment “remains unpredictable.”

Tags:

Amazon AWS Gulf war TECH war watch

Economy

Input costs hit nine-month high as firms sacrifice margins for volume

Non-oil private-sector operating conditions slipped 0.9 percentage points in February to 48.8, moving further away from the all-important 50.0 threshold that separates contraction from growth, according to S&P Global’s latest Purchasing Managers’ Index report (pdf). The dip in the headline figure marks the second straight month in the red.

There were few silver linings, with all five PMI sub-components “at levels consistent with a weakening of business conditions compared to the previous month.” Output declined to end a three-month expansionary streak, new orders contracted at the fastest pace in five months, input costs rose at their quickest pace since May, and a hiring freeze and job cuts also saw staffing levels dropping for the third consecutive month.

Why it matters: Businesses are facing a widening gap between what things cost and the price customers are willing to pay. Global rallies in metals and energy have pushed purchase price inflation to a nine-month high, but local companies seem to be struggling to pass these costs on, with output prices up only marginally. It seems that the domestic market may have limited wiggle room to absorb price hikes, with companies sacrificing margins to maintain volume.

One bright spot was construction, which was marked as the only sector to report an increase in new orders. Less fortunate were manufacturing, wholesale, retail, and services, which saw new orders fall at the quickest rate since September.

Tags:

economy PMI S&P

Debt

Citizen Bonds’ EGP 2 bn first week debut is a warning to banks

The recently debuted Citizen Bond brought in EGP 2 bn in just its first week, a government official tells EnterpriseAM. By bypassing traditional banking channels and offering the bonds directly to citizens, the Finance Ministry is looking to diversify and restructure its local debt, economist Hany Abou El Fotouh tells us.

Much of this is fresh liquidity targeting government debt, with the bonds primarily attracting those with traditional bank deposits and older people without the risk appetite for stocks, Evolve Holding CEO Sameh El Torgomon tells EnterpriseAM. Liquidity in the EGX shouldn’t be affected by the bonds in any meaningful way, he added.

Why this matters: Banks have long enjoyed a comfortable carry trade, taking low-cost deposits and lending them on at a margin. If the Citizen Bond scales — the appetite seems to be there — banks might be tempted to raise their own rates to stay competitive with the offering’s current 17.75% return.

It’s unlikely, however, that savers will break with their current savings certificates to buy the new bonds given the high cost of withdrawing before maturity, industry insider Mohamed Abdel Moneim told us.

While Citizen Bonds may pose a challenge to banks, gold’s appeal will remain unaffected. The precious metal will remain the primary hedge for everyday Egyptians looking to preserve wealth in the long term, Chamber of Commerce Gold Division head Hani Milad tells us. Gold has “no rival,” he explained, pointing to gold’s over 70% rise in the last 12 months and nearly 20% increase YTD.

What’s next? The Finance Ministry intends to make this a monthly fixture. Every new issuance will feature a variable rate, allowing the state to adjust its cost of borrowing in real-time based on the interest rate environment. The subscription for the current tranche remains open until 8 March.

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

Tags:

debt Finance Ministry

Also on our Radar

Egypt sends more power to Jordan despite domestic energy squeeze

Despite the looming energy squeeze, officials have boosted electricity exports to Jordan to 225 kWh through a regional interconnection to offset gas shortages there until new shipments arrive, a senior government source tells EnterpriseAM.

In the longer term, feasibility studies are underway to expand interconnection capacity by an additional 250 kWh to strengthen the Arab electricity grid linking Egypt, Jordan, Syria, Lebanon, and later Iraq and Saudi Arabia, we were told.

CI Capital reports 2025 earnings

CI Capital’s net income after tax and minority interest came in at EGP 1.6 bn in 2025, down from EGP 2.2 bn in 2024, the company said in a statement (pdf). Its corporate leasing arm Corplease saw its net income after tax come in at EGP 1.1 bn.

The company’s total revenues came in at EGP 10.2 bn, up 16% y-o-y if we exclude foreign exchange gains. The group’s investment bank reported revenues of EGP 1.6 bn, while revenues for CI Mortgage Finance rose 67% y-o-y to EGP 890 mn.

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

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ALSO ON OUR RADAR CI Capital earnings energy infrastructure

PLANET FINANCE

It’s the greenback’s time to shine

The USD is emerging as the safe haven of choice for global investors, with other usual safe havens like bonds and gold getting dragged amid the global rout that has hit stocks since the start of the US-Israel-Iran war. As the bonds and gold markets suffer, the Bloomberg USD Spot Index is heading for its strongest back-to-back rally in nearly a year.

This comes as fears of inflation have been stoked amid the spike in oil and gas prices, with Brent jumping over 8% on Tuesday to reach USD 85 / bbl for the first time since July 2024 and European gas prices jumping 36%.

A Bloomberg gauge of global bonds dropped 0.8% — the worst day since May — while yields on 10-year Treasuries climbed to 4.10%, up 16 bps from Friday. Meanwhile, Britain’s two-year gilt logged its sharpest two-day jump in nearly 18 months, and Japanese government bonds also fell.

Rate cut dreams? Parked for now. Markets now see just a 25% chance of a Bank of England cut this month, down from 75% last week, while money markets have trimmed expected Fed easing this year to 37 bps, down from 60 bps on Friday. Traders have even started penciling in a small chance of an European Central Bank (ECB) hike by year-end.

Policymakers aren’t dismissing the risk: ECB Chief Economist Philip Lane warned that a prolonged conflict could trigger a substantial spike in inflation and dent growth, while Amundi’s Monica Defend said geopolitics is reasserting itself as a recurring macro force.

And gold — which typically acts as a hedge against turmoil — dipped 5.6% to USD 5.03k an ounce on Tuesday, weighed down by a stronger greenback and inflation concerns. Gold had jumped as much as 2.6% to above USD 5.4k a troy ounce earlier in the week, the Financial Times reports.

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

MARKETS THIS MORNING-

It’s another day with Asia-Pacific markets opening in the red as uncertainty triggered by the escalating regional war keeps investors on edge. The Kospi is down over 8% and the Nikkei is down 3.6%. For the third morning running, Wall Street futures are in the red.

EGX30	46,726	-2.0% (YTD: +11.7%)
USD (CBE)	Buy 49.82	Sell 49.96
USD (CIB)	Buy 49.83	Sell 49.93
Interest rates (CBE)	19.00% deposit	20.00% lending
Tadawul	10,566	+0.7% (YTD: +0.7%)
ADX	10,454	-1.3% (YTD: +4.6%)
DFM	6,504	-1.8% (YTD: +7.6%)
S&P 500	6,817	-0.9% (YTD: -0.4%)
FTSE 100	10,484	-2.8% (YTD: +5.6%)
Euro Stoxx 50	5,772	-3.6% (YTD: -0.3%)
Brent crude	USD 82.12	+5.6%
Natural gas (Nymex)	USD 3.05	+3.2%
Gold	USD 5,124	-3.5%
BTC	USD 68,277	-1.6% (YTD: -22.1%)
S&P Egypt Sovereign Bond Index	1,031	-0.2% (YTD: +3.8%)
S&P MENA Bond & Sukuk	152.96	-0.6% (YTD: +0.7%)
VIX (Volatility Index)	23.65	+10.3% (YTD: +57.3%)

THE CLOSING BELL-

The EGX30 fell 2.0% at yesterday’s close on turnover of EGP 6.5 bn (2.8% above the 90-day average). International investors were the sole net sellers. The index is up 11.7% YTD.

In the green: Abu Qir Fertilizers (+14.9%), Kima (+8.0%), and Valmore Holding -EGP (+7.0%).

In the red: TMG Holding (-6.3%), ADIB (-3.7%), and E-finance (-3.7%).

Tags:

Financial Markets Planet Finance

HARDHAT

The national logistics infrastructure narrative shifts from laying asphalt to moving containers

In the past, progress in Egypt’s logistics sector had been measured on paper by the length of roads built and the tons of concrete used, from the extension of the Suez Canal and its accompanying infrastructure to a national road project spanning the country. This state-heavy and expensive push was based on the notion that if you build it, they will come.

But now the state is starting to focus on stage two of the plan — utilization and monetization, according to the second edition of the National Narrative for Comprehensive Development (pdf), which lays out the state’s goals for 2030.

No piece of infrastructure is an island

Central to the state’s plan to develop the country’s agricultural and industrial sectors are seven logistics corridors spanning the country, serving to connect places of production with ports and dry ports by rail or road. Each of the corridors addresses existing problems, like the high-speed rail link connecting Ain Sokhna on the Red Sea to the Mediterranean at Alamein and Matrouh, which bypasses traditional maritime bottlenecks and offers a rapid alternative for high-value freight.

By lowering time-to-market and entry costs, the push is about supporting sectors along the routes, not collecting transit tolls. There will also be a network of 33 dry ports and logistics zones in and around the routes to facilitate the movement of goods and even move some of the customs clearance requirements away from maritime entry points into the country.

Planes, trains, and automobiles — and ships too

To support these corridors, Egypt is aggressively scaling its port capacity. The plan sets a 2030 target of increasing seaport capacity to 400 mn tons. East Port Said Port stands out as a key part of maritime infrastructure, with a planned 5 mn TEU capacity by the end of the decade, alongside Sokhna Port at the other end of the canal, with a targeted 2.5 mn TEUs.

The private sector is ready to begin boarding

Looking ahead, the focus isn’t just on what infrastructure exists, but on who runs it. The narrative highlights a plan to let the private sector manage and operate the country’s airports, with its 11-airport pilot project taking off at Hurghada International Airport — excuse the pun.

Tapping the private sector to manage airports is intended to both create fresh revenue and improve service quality. For the logistics industry in particular, this could — and should — mean increased air freight efficiency and specialized cargo handling.

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

Tags:

aviation Hardhat infrastructure logistics transport

CALENDAR

2026

MARCH

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

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

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

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

APRIL

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

12 April (Sunday): Coptic Easter.

25 April (Saturday): Sinai Liberation Day.

MAY

1 May (Friday): Labor Day.

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

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

JUNE:

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

JULY

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

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

AUGUST

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

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

SEPTEMBER

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

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

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

OCTOBER

6 October (Tuesday): Armed Forces Day.

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

DECEMBER

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

EVENTS WITH NO SET DATE

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

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

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

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

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

2027

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

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

EVENTS WITH NO SET DATE

2027: Egypt to host EBRD’s annual meetings.

2027: Egypt-EU Summit 2027.

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

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

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