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Tuesday, 24 Jun 2025

What We're Tracking Today
Capital Markets
Trade
A Message From Visa
Economy
Also On Our Radar
Planet Finance
Going Green
Calendar

Valu shares jump to hit price ceiling on EGX debut

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Today at a glance

1

Capital markets

Valu shares jump 852.4% to hit price ceiling on EGX debut.
2

What We're Tracking Today

Trump announces “a complete and total ceasefire” between Israel and Iran.
3

Trade

Gov’t finalizes new amendments to customs laws.
4

Economy

Remittances rise 39.0% y-o-y in April to USD 3.0 bn.
5

What We're Tracking Today

Egypt issues USD 1 bn worth of sukuk to Kuwait.
6

What We're Tracking Today

Resumption of natural gas supplies to factories pushed back another week.
7

Also on our Radar

Turkey’s Şirikçioğlu to establish a USD 20 mn denim factory in Qantara West.
8

PLANET FINANCE

Investors cheer ceasefire news after earlier jitters.
9

Going Green

The road to increasing nature reserves.

Tuesday, 24 Jun 2025

What We're Tracking Today
Capital Markets
Trade
A Message From Visa
Economy
Also On Our Radar
Planet Finance
Going Green
Calendar
1

What We're Tracking Today

Trump announces “a complete and total ceasefire” between Israel and Iran

Good morning, friends. A whole lot has happened in the world since you went to sleep last night, with Iran launching missile strikes on the US’ largest military base in the region in Qatar, which was soon followed by a completely unexpected ceasefire between Iran and Israel set to begin taking place in only a matter of hours.

But for many of our readers, what happened on the EGX yesterday was just as gripping, with Valu seeing its shares jump 852.4% to hit the price ceiling on its EGX debut. We’ve got a rundown of Valu’s first day on the bourse, incoming customs amendments, a USD 1 bn sukuk issuance for Kuwait, and more in today’s issue. There’s plenty to get through this morning, so let’s jump right in.

Sahel – what was once Egypt's summer escape has become an economic hub, social ecosystem, and regional travel hotspot. And we’re going to help you decode its rapid evolution with EnterpriseAM Destination Sahel.

In a special four-part summer series we’re taking the insights you’ve come to expect of us seaside. Think everything from Ras El Hekma's impact and investment opportunities to exclusive interviews with key players. And it wouldn’t be Sahel season without a sprinkling of what’s shaking up socially.

Expect us in your inbox today at 10am.

See you, Sahel-side.

PSA-

WEATHER- The hot and humid weather continues in Cairo today, with a high of 35°C, a low of 23°C, and partly cloudy skies, according to our favorite weather app.

As per usual, it’s a few degrees cooler and a little more humid in Alexandria, with a high of 30°C, a low of 21°C, and partly cloudy skies.

** 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.

WATCH THIS SPACE-

#1- Egypt issued USD 1 bn worth of sukuk to Kuwait on Thursday, with settlement due to take place tomorrow, a government source told EnterpriseAM. The issuance is part of a plan to increase Kuwaiti investments in the country until the end of 2026 and will have a three-year tenor maturing in June 2028, with a coupon rate of 8%, our source added.

It’s likely that this is part of Kuwait’s unconfirmed plan to turn its direct deposits in Egypt’s central bank into direct investments, which currently stand at USD 4.0 bn, according to data (pdf) from the Central Bank of Egypt. The countries agreed two months ago on the sukuk issuance, according to our source, which lines up with when reports about Kuwait’s plan to convert its deposit started to leak to the press.

It’s also possible that the issuance could be part of the government’s sukuk-funded RasShukier project, especially as a still-unnamed Gulf sovereign wealth fund was gearing up to announce a big-ticket project in the Red Sea project “in the coming days,” we were told earlier this month by a senior government source. However, our source yesterday declined to comment on the issuance's connection to the Ras Shukier project, but added that a number of other sukuk-backed projects under the initiative with Gulf and local partners will be announced soon.

#2- The resumption of natural gas supplies to factories has been pushed back for another week, with flows now expected to start gradually before the end of June, an unnamed government official told Al Arabiya Business. The delay comes amid a halt to imports from Israel, with Israel gas flows to Egypt currently down at 40-50 mn cubic feet per day (mcf/d) — down from the 90 mcf/d last week and the 650 mcf/d initially expected this week.

Fertilizer and petrochemical plants are on standby to restart operations once gas begins flowing again, two industry sources told the regional news outlet, noting that most facilities have completed scheduled maintenance and are in close coordination with the Oil Ministry and Egas to resume operations. Supplies could reach some plants starting Friday, with full pre-shutdown volumes expected by mid-July.

DATA POINT-

Egypt saved EGP 9 bn in 1H 2025 on the back of reduced fuel consumption at power plants, Asharq Business reports, citing an unnamed government official. Power plants cut their fuel consumption by 7.1% y-o-y during the period as part of the government’s efforts to slash the use of fuel, whose average monthly cost stands at EGP 24 bn.

HAPPENING TODAY-

#1- The investment and finance-focussed edition of the Decision Makers Conference kicks off today at the St. Regis Cairo, bringing together top government officials and private sector leaders to discuss our rapidly evolving business landscape. The annual event will feature speakers like MSMEDA CEO Bassel Rahmy, Fawry CEO Ashraf Sabry, EGX Vice Chair Heba El Serafi, and economist Hany Tawfik.

#2- It’s day one of Africa Health Excon at the Egypt International Exhibition Center in Cairo. The four-day event will host 500 pharma and healthcare companies from the continent and further afield as exhibitors, and feature panel discussions and talks on the most pressing issues facing the industry.

THE BIG STORY ABROAD-

Dominating the world’s digital front pages this morning is news that nearly two-week war between Israel and Iran may soon be coming to an end, as Donald Trump took to the Truth Social to announce that “a complete and total ceasefire” had been “fully agreed” to by the two warring parties. The phased ceasefire is understood to start coming into effect in a matter of hours and lead to a complete end to the hostilities after 24 hours. (Financial Times | Bloomberg | Reuters | Associated Press | Guardian)

To say that It’s been an eventful night of news, would be an understatement, with the ceasefire announcement coming shortly — and very unexpectedly — after Iran launched a missile strike on the US’ largest military base in the region in Qatar — which was intercepted and caused no injuries or casualties — in response to strikes earlier this week on its nuclear facilities. While Trump characteristically dismissed the strikes as a “very weak response," he less characteristically thanked Iran for giving it advance notice to avoid any loss of life and called for both Israel and Iran to seek peace. (Reuters | Bloomberg | Associated Press | New York Times | Washington Post | Guardian)

The unexpected — and very welcome — news of an approaching ceasefire sent energy stocks tumbling, falling as much as 5% after the announcement. Investors also pulled back from classic safe haven assets — including the USD — while Wall Street futures picked up and Asian markets in early trading started the day with sizable gains.

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

In today’s issue: We look at efforts to increase the country’s nature reserves.

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2

Capital markets

Valu shares jump to hit price ceiling on EGX debut

Introducing, VALU.CA. Valu became the latest addition to the EGX yesterday after U Consumer Finance — which owns and operates the Valu brand — rang the opening bell to kick off trading. Shares in the company increased 852.4% from its opening price of EGP 0.78 to end the day at EGP 7.40 — maxing out the price ceiling given to the homegrown fintech for its first day of trading.

Going public handed EFG shareholders roughly 20.5% of the company’s share capital, with its parent company EFG Holding — via its EFG Finance arm — retaining a 67% stake, according to a statement (pdf) from Valu and parent company EFG Holding.

And it also welcomed Amazon as one of its largest shareholders, with the US multinational giant acquiring a nearly 4.0% stake in the company for EGP 6.04 a share by exercising a three-year-old option play. The move handed the world’s second largest company by revenue and fifth biggest by market cap a strategic entry into one of the region’s fastest-growing BNPL and consumer lending platforms.

REMEMBER- Amazon had purchasedUSD 10 mn worth of EFG Hermes’ London-listed GDRs back in 2022. The agreement included an option to convert them into a c.4.3% stake in Valu based on a market cap of USD 235 mn in the event of a third-party investment, IPO, or other liquidity event.

The long-awaited debut is a bellwether for Egypt’s capital markets, showcasing a new pathto public ownership outside traditional IPOs. Unlike an IPO, the financial services giant gave its shareholders stock in U at a rate of one share per 3.3 EFG Holding shares held as a dividend in lieu of a traditional payout, funded by EGP 335.5 mn from EFG Holding’s distributable retained earnings.

The “move unlocks value for EFG Holding shareholders by crystallizing the true market worth of a key asset,” EFG Holding Group CEO Karim Awad told us when the transaction was first announced in March.

Valu also became the first consumer finance company to be traded on the EGX, which will open “the door to expanding the base of listed companies” in the non-banking financial services sector, said Financial Regulatory Authority Chairman Mohamed Farid. The unconventional listing also “confirms the EGX's trading systems' readiness to accommodate listings and implement new, unconventional ideas,” according to EGX Executive Chairman Ahmed El Sheikh.

What they said: “Valu’s listing on the Egyptian Exchange is a proud and defining milestone for EFG Holding. It reflects the culmination of years of strategic investment, innovation, and unwavering belief in the power of financial technology to transform lives,” EFG Holding Group CEO Karim Awad said.

ADVISORS- Valu and EFG Holding tapped EFG Hermes Promoting and Underwriting as their sole financial advisor, while Zulficar and Partners acted as counsel. EFG Holding also appointed Gibson, Dunn, and Crutcher to provide counsel for international aspects of the transaction.

** We sat down with Valu CEO Walid Hassouna for a two-part interview ahead of ringing the bell to find out how the homegrown fintech has risen to become a household name, how it continues to outpace its rivals, and what the company still has in store ahead. You can check out part one of our interview here and part two here.

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3

Trade

Finance Ministry finalizes new amendments to customs laws

The Finance Ministry finalized new amendments related to customs facilitation measures that are set to be launched in the coming weeks, a government source told EnterpriseAM. The ministry is set to finalize a new package of custom facilities within the coming weeks, with a separate real estate tax relief package expected in 1Q FY 2025-2026, Finance Minister Ahmed Kouchouk said previously.

The amendments involve changes to three customs laws, including 15 amended articles and 3 newly introduced articles that pertain to installment payment of customs duties, activation of a risk management system, and adjustment of allowable wastage rates for manufacturers to ease regulatory burdens, our source said. The amendments also address feedback from the Federation of Egyptian Industries and the broader industrial community, intending to protect local manufacturing, maintain employment levels, and preserve production activity.

What the changes will entail: The new amendments will work to provide customs facilitation in a number of ways, enabling dispute resolution, waiving fines, and resolving issues related to the retention of import invoices for post-clearance audits in a way that satisfies the industrial sector and reduces potential new disputes. The amendments also aim to reduce customs clearance time to two days from eight in the initial phase, which could take 9-12 months. Eventually, clearance could happen within hours.

The amendments also include:

  • Launching a new pricing platform for frequently imported goods to standardize customs valuation and avoid inconsistent pricing estimates across customs points;
  • Enabling six-month installment payments for customs duties, with no late fees for the first three months;
  • Introducing a wastage allowance of up to 3% for free zones to resolve longstanding issues and reports filed by the Industrial Control Authority against manufacturers.;
  • Postponing customs duty collection via the Nafeza system until goods arrive to help ease financial pressure on manufacturers;
  • Expanding the list of acceptable guarantees from importers, including ins. documents;
  • Accepting electronic payments through various digital methods, in line with the government’s digital transformation strategy;
  • Updating the risk management system and allowing easier conversion of provisionally cleared shipments into production inputs without added costs to facilitate Egyptian exports.

REFRESHER- The cabinet greenlit the formation of a committee to implement a risk management system for customs clearance back in April, with the committee tasked to develop the framework for implementing the system, monitor its execution, and propose legislative changes.

Planned expansions to the so-called white list have also seen progress: A survey is underway to identify companies and customs clients with no prior record of evasion or customs value manipulation to add them to the white list, which currently includes a limited number of entities. The list is expected to expand significantly upon completion of the survey, providing listed entities with the ability to benefit from expedited customs clearance and inspection, which will in turn support local investment.

AND- FX collection rules for exports expanded: The Investment Ministry added 65 new items to the list of goods that local exporters must fully collect payment for in foreign currency before shipping abroad, according to a decision published in the Official Gazette. The regulation requires exporters to receive the full value of these goods in convertible currencies — such as USD or EUR — through local banks authorized by the central bank and using secure methods like letters of credit and wire transfers. Exporters must provide proof of payment to customs authorities before shipment. The move is part of broader efforts to ensure FX flows through the banking system.

The new items span a wide range of commodities, including flour, fertilizers, metals, petroleum products, chemical compounds, waste and scrap materials, and electrical connectors, among other goods.

PLUS- Gov’t is also shaking up the way import fees are collected: The Central Bank of Egypt instructed banks to comply with a recent Investment Ministry decision that shifts import fee collection responsibilities from banks to the Egyptian Customs Authority, Al Mal reports. Customs officials will be required to collect administrative import fees determined by the ministry and transfer them to the ministry’s account at the CBE, a role previously carried out by local banks. The release of goods is contingent upon the payment of these fees.

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4

A MESSAGE FROM VISA

Visa's Tap-to-Add Card: revolutionizing digital payment security and accessibility

Visa is making digital payments more accessible, secure, and efficient for everyone. With the launch of Apple Pay and Google Pay in North Africa, the Levant, and Pakistan, Visa is rolling out technology like Tap-to-Add Card so that you can instantly add your Visa contactless cards to your digital wallets with a simple tap on your smartphone. There is nothing to type in, no passwords to remember and risk of fraud is significantly reduced.

Backed by Visa’s Chip Authenticate service, Tap-to-Add Card ensures a secure, seamless payment experience, and takes Egypt one step further towards becoming a digital-first economy.

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5

Economy

Remittances from Egyptians rise 39.0% y-o-y in April to USD 3.0 bn

Remittances from Egyptians abroad continued to rise on an annual basis in April, increasing 39.0% y-o-y to around USD 3 bn, according to a statement (pdf) from the Central Bank of Egypt. This marks 14 consecutive months of y-o-y remittance growth.

Remittances also rose to new heights in the first ten months of the current fiscal year, with Egyptians expats sending in some USD 29.4 bn during the period, up 77.1% y-o-y. Remittances sent during the period between January and April saw an increase of 72.3% y-o-y, reaching around USD 12.4 bn.

REMEMBER- Remittance inflows began to return to official channels after the float of the EGP back in March 2024, which effectively put an end to the parallel market that had pushed remittance flows to unofficial channels. Remittances are expected to continue their upward trajectory throughout the year, with Morgan Stanley forecasting USD 32 bn in inflows during the current fiscal year.

This also brings us closer to remittance flows surpassing their pre-FX crisis peak. Last fiscal year saw remittances hitting only USD 22.1 bn — as the parallel market pushed remittance flows to unofficial channels — down from a USD 31.4 bn peak in FY 2020-2021.

Money sent from abroad is expected to have made up around 8% of the country’s entireGDP in 2024, up from 5% in 2023 and 6.1% in 2022. In terms of current account inflows, remittances from Egyptian expats are expected to have accounted for 35% of inflows in 2024, up from the 25% recorded the year prior, but still a long way off from the 45% recorded in 2020.

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6

Also on our Radar

Turkey’s Şirikçioğlu to establish a USD 20 mn denim factory in Qantara West. PLUS: Egypt-Sudan logistics zone, GB Auto + Changan, Paragon Developments, Norpetco

MANUFACTURING-

#1- Turkey’s Şirikçioğlu will establish a USD 20 mn denim factory in the Qantara West Industrial Zone, according to a statement from the Suez Canal Economic Zone. The factory will create 500 direct jobs and roll out 18 mn tons of raw materials for the textile industry per year — split equally between export and factories in Egypt.

#2- Two undisclosed Turkish companies are reportedly looking to acquire Egyptian businesses in the spinning and weaving industry for a combined USD 30 mn, Fathalla and Company Managing Partner Mohamed Fathalla told Al Borsa.

Some 20 Turkish firms have applied to set up shop in the Suez Canal Economic Zone in the past six months — including 19 in the apparel sector and one in food processing, Fathallah said. Turkish garment manufacturers have been doubling down on Egypt over the past year, with around 500 firms reportedly expressing interest in relocating operations here, eyeing some USD 5 bn in aggregate investment. At least 50 companies have already taken early steps, including forming legal entities and submitting land allocation requests.

LOGISTICS-

Egyptian-Sudanese logistics zone incoming? Egypt and Sudan inked a contract to establish a logistics zone on the border crossing between them, Sudanese Ambassador to Egypt Imad Al Din Adawi told Asharq Business. The project aims to boost trade between the two neighboring countries.

The details: The zone will include dry and refrigerated storage facilities, as well as banks and financial institutions to facilitate commercial agreements between the two sides. The Arab Academy for Science, Technology, and Maritime Transport completed a comprehensive study on establishing the zone, which will be presented in November, according to a statement from the Sudanese Embassy in Cairo.

AUTOMOTIVE-

GB Auto launched the first locally-assembled Changan CS55+ model, marking “the first completely knocked down model from the Chinese brand to be assembled in the Egyptian market, according to disclosure (pdf) to the EGX.

EXPANSION-

Paragon Developments opened its first regional office in Riyadh to tap into the Kingdom’s real estate market, the local developer said in a statement. The company is also planning to deliver 200k sqm of office space by 2027 and 500k sqm by 2030.

ENERGY-

The North Bahariya Petroleum Company (Norpetco) is implementing a USD 100 mn investment plan, which has already increased output over 16k barrels per day, according to an Oil Ministry statement. Norpetco has also increased its crude storage tank capacity to 75k barrels and launched two new infrastructure projects.

M&A WATCH-

Pelican Diversified Investments cut its stake in EGX-listed Premium Healthcare Group to 4.1% from 11.6%, according to an EGX disclosure (pdf). The investor sold some 60.6 mn shares for a total of EGP 11.6 mn, with an average price of EGP 0.19 per share. The Commercial International Brokerage Company was the broker on the transaction.

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7

PLANET FINANCE

Investors cheer ceasefire news after earlier jitters

Ceasefire triggers risk rally: Stock markets cheered signs of a potential resolution to the Iran-Israel conflict, with the S&P 500 ending the day up 1% yesterday. Regional markets, which closed earlier in the day before news of an Iran-Israel ceasefire broke out, also settled in the black.

Earlier this week, the USD had staged a modest rally, though it weakened yesterday, falling 0.2% against the JPY, while the EUR and AUD strengthened. The Bloomberg USD Spot Index — which weighs the USD against a basket of developed and emerging market currencies — fell 0.2%.

The earlier rush to safe havens still held when it came to US Treasuries, which rallied after Iranian state media reported a missile strike on a US air base in Qatar, Bloomberg reports. Yields on 10-year Treasuries fell to their lowest levels in a month, while the five-year yield fell to 3.86% on hopes for a sooner-than-expected interest rate cut from the US Federal Reserve, after Fed Governor Michelle Bowman said she would support a July rate cut if inflation continued to cool. Gold also settled up 0.3%.

The dip in yields have also spurred more bond sales, with companies in the US and Europe looking to lock in more affordable rates amid uncertainty over the outlook for yields down the line. The Royal Bank of Canada sold EUR 750 mn in green bonds, while BNP Paribas is looking to sell a USD-denominated AT1 bond, and Australia’s OMV sold a EUR 750 mn hybrid bond.

MARKETS THIS MORNING-

Asian markets also gained on the back of news of the ceasefire, with South Korea’s Kospi up 2.1%, Japan’s Nikkei rising 1.3%, and Hong Kong’s Hang Seng up 1.4%. China’s CSI 300 was flat. Over on Wall Street, futures rose on the news, with S&P 500 futures up 0.4% and Nasdaq futures rising 0.6%.

EGX30

31,419

+1.2% (YTD: +5.6%)

USD (CBE)

Buy 50.62

Sell 50.76

USD (CIB)

Buy 50.63

Sell 50.73

Interest rates (CBE)

24.00% deposit

25.00% lending

Tadawul

10,710

+1.3% (YTD: -11.0%)

ADX

9558

+0.5% (YTD: +1.5%)

DFM

5411

+1.1% (YTD: +4.9%)

S&P 500

6025

+1.0% (YTD: +2.4%)

FTSE 100

8758

-0.2% (YTD: +7.2%)

Euro Stoxx 50

5222

-0.2% (YTD: +6.7%)

Brent crude

USD 69.34

-3.0%

Natural gas (Nymex)

USD 3.66

-0.9%

Gold

USD 3395.00

+0.3%

BTC

USD 103,765.6

+4.7% (YTD: +11.0%)

S&P Egypt Sovereign Bond Index

878.77

+0.1% (YTD: +13.0%)

S&P MENA Bond & Sukuk

144.12

-0.1% (YTD: +3.0%)

VIX (Volatility Index)

19.83

-3.8% (YTD: +14.3%)

THE CLOSING BELL-

The EGX30 rose 1.2% at today’s close on turnover of EGP 5.0 bn (4.7% above the 90-day average). Local investors were the sole net buyers. The index is up 5.6% YTD.

In the green: Alexandria Mineral Oils (+7.9%), EFG Holding (+7.2%), and Beltone Holding (+5.0%).

In the red: Abu Qir Fertilizers (-0.9%), CIB (-0.9%), and GB Corp (-0.6%).

CORPORATE ACTIONS-

#1- Raya Holding will distribute a dividend of EGP 0.04 per share on its 1Q 2025 earnings starting 10 July, according to an EGX disclosure (pdf).

#2- Premium Healthcare Group has wrapped its 4.6x oversubscribed second phase of its capital increase subscription round, according to a statement seen by EnterpriseAM. Some 4.7 bn shares were requested, out of only 1.0 bn on offer. The company completed the first phase of its capital increase earlier this month with 95.6% of offered shares subscribed, accounting for 21.8 bn of the 22.8 bn shares being taken up.

REMEMBER- The healthcare group got the greenlight from the Financial Regulatory Authority in March to issue its issued and paid-up capital to EGP 2.4 bn from EGP 81.5 mn through the issuance of 22.8 bn new shares. The company also plans to increase its authorized capital to EGP 11.4 bn, up from the current EGP 315 mn.

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

Published every Tuesday in EnterpriseAM.

Read going Green
8

Going Green

The road to increasing nature reserves

Egypt wants to expand its nature reserves: Egypt is working to increase the area covered by nature reserves to 22% of the country’s total land area from 15% as part of a wider plan to preserve biodiversity and strengthen climate resilience, according to an Environment Ministry statement, citing minister Yasmine Fouad said

What’s on the agenda? The government is currently considering declaring Egypt’s Red Sea coast and its coral reefs a protected area. Efforts are already underway to rehabilitate northern lakes, suspend fishing in parts of the Red Sea to help marine ecosystems recover, and promote sustainable practices in coastal regions.

REMEMBER- The 400 sq km of coral reefs on our Red Sea coast are threatened by climate change, coastal development, tourist activity, and overfishing. Hard coral reef cover declined by 13.6% on average between 2005 and 2019 at the ten most-affected sites off Egypt’s coasts.

A blue economy strategy is in the works: Egypt is working to finalize its national strategy for the blue economy before November of this year. The strategy will fully integrate social and environmental considerations, ensuring that conservation efforts support both ecological sustainability and local livelihoods.

Blue economy strategy? The blue economy is increasingly coming into frame as a key pillar of the green transition. At home, the blue economy has significant potential by virtue of Egypt’s strategic location — and the country has made some successful strides in areas like fish farming. Check out our deep dive into the country’s blue economy here.

Where things stand: There are currently 30 nature reserves in Egypt across different ecosystems. These include famous sites such as Ras Mohamed, St. Catherine, Wadi El Rayan, Abu Galum, Wadi Degla, Taba, and the White Desert.

A push to draw investments: The government is also looking to expand economic activity within existing reserves, particularly biodiversity-focused businesses and ecotourism, a senior source at the Environment Ministry told EnterpriseAM. The aim is to contribute to GDP growth by introducing economic management models for reserves and expanding environmentally responsible tourism and business activity. The goal is to attract up to USD 10 bn in investments.

Attracting green investments has been a challenge: The second phase of Egypt’s national climate change mitigation roadmap is currently underway, but a key challenge is attracting private investment. “We want to bring more private capital into the reserves and biodiversity sector, particularly in protected areas in Sharm El Sheikh and Hurghada,” the source said.

This also plays into our climate goals: The plan could help reduce emissions by as much as 80 mn tons of CO2 equivalent by 2030, the source said.

New revenue streams could be on the horizon: The government is also considering new tools like carbon pricing and a possible environmental tax to further support the sector. The ministry is also looking to upgrade the management of six reserves with plans to offer 24 new investment prospects, the source added. Several investment proposals are already under review.

The gov’t has been working on this for a while: The government’s recent efforts aim to preserve ecosystems, develop protected area infrastructure, conserve biodiversity, support local communities, protect endangered species, and enforce environmental regulations. The ministry completed zoning plans for six reserves — Wadi Degla, the Petrified Forest, Wadi El Rayan, Lake Qarun, Northern Islands, and Wadi El Gemal. It also approved management plans for Wadi El Gemal, Nabq, Siwa, and El Omayed, according to a ministry statement.

What infrastructure upgrades have been made so far? Egypt has made various infrastructure upgrades across nature reserves to boost eco-tourism. These include new docks at the Blue Hole and Tiger Reef in Abu Galum, as well as a redevelopment plan for the Blue Hole, which is now ready for investment. Visitor facilities were also upgraded in Ras Mohamed, the Northern Islands, Nabq, and Wadi El Gemal. Wadi El Rayan got two new eco-camps through private sector investment. The Qarun Reserve and Debabia Reserve also got major upgrades supported by grants from the Global Environment Facility.

Why does this matter? Upgrading our nature reserves could attract big investments, which was shown by a 40% y-o-y increase in reserve revenues in 2024.

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CALENDAR

JUNE

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

JULY

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

15-16 July 2025 (Tuesday-Wednesday): Egypt Mining Forum

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

Etihad Airways to launch twice-weekly flights to Alamein

AUGUST

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

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

SEPTEMBER

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

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

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

OCTOBER

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

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

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

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

NOVEMBER

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

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

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

DECEMBER

1-4 December: Egypt Defence Expo (EDEX), Egypt International Exhibition Centre.

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

EVENTS WITH NO SET DATE

Mid-2025: EGX launches sustainability index.

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

2Q 2025: Safaga Terminal 2 to start operations

1H 2025: EGX launches a sharia-compliant sustainability index.

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

1H 2025: The Egyptian-US Investment Forum.

1H 2025: The Egyptian Mineral Resources Authority will relaunch a global tender for gold exploration through Shalateen Mineral Resources company.

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

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

2025: The InterAcademy Partnership assembly

2025: Nile Basin States Summit, Cairo, Egypt

2025: Release of the government’s Startup Charter document

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

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.

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

EVENTS WITH NO SET DATE

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

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

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

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