World Bank keeps growth forecasts steady despite tariff tension turmoil

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What We're Tracking Today

EGX33 outperforms the EGX30 in its first year since launch

Good morning, folks. We’re ending this shorter than usual workweek with the World Bank’s latest GDP forecasts for Egypt, the region, and the world, Wafa Assurance’ MTO for up to 100% of Delta Ins., an anti-dumping probe into Egyptian rebar exports, and more.

PSA-

WEATHER- Sunny skies continue in Cairo today, with a high of 36°C and a low of 23°C, according to our favorite weather app.

Sunny skies are also forecast for Alexandria, with a high of 28°C and a low of 20°C.

And over the weekend, expect to see highs inch up to 37°C in the capital and to 30°C for our friends on the Mediterranean.

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

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HAPPENING TODAY-

#1- German Foreign Minister Johann Wadephul arrives in Cairo today for a two-day visit that marks first official trip to Egypt since taking office, according to a statement from the German Embassy. During the trip, Wadephul is set to hold talks with his Egyptian counterpart Foreign Minister Badr Abdelatty.

#2- The EGX33 turns one today, marking the shariah-compliant index’s first year on the bourse since being launched on 12 June, 2024.

The shariah compliant index has so far outperformed the EGX30, rising 34.4% over the last 12 months, while the country’s benchmark index rose — a still impressive — 26.3% over the same period.

It’s also seen increased interest from asset managers, with Azimut, CI Capital, Beltone, and Al Baraka Capital having launched or in the process of launching funds to track the set of shariah-compliant stocks.

WATCH THIS SPACE-

The government is readying plenty of healthcare investments over the next decade under a ten-year investment plan for the sector to establish new and upgrade existing facilities and fully roll out the Universal Health Ins. System, according to an Investment Ministry statement. There will be more than 75 investment openings on the table, spread between general and specialized facilities, medical technology, digital healthcare initiatives, pharma localization projects, and home healthcare services, said Health Minister Khaled Abdel Ghaffar.

The country’s healthcare sector will also undergo a full digital transformation in the next 3-5 years, with the private sector set to play an important role in developing “a unified hospital information management system, as well as infrastructure and software based on artificial intelligence,” according to the statement.

CIRCLE YOUR CALENDAR-

Local and international players now have until the end of the month to submit their qualification bids to rehabilitate, manage, operate, and maintain the Fustat Hills Park after the Urban Development Fund extended the deadline to 30 June from 4 June, the fund said in a statement. The fund pushed back the deadline following a large number of requests from interested companies.

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

THE BIG STORY ABROAD-

Our corner of the world is once again topping the global press’ digital front pages with the US pulling embassy staff from the region amid rising tensions with Iran, after nuclear talks between the two nations appeared to break down ahead of the Trump administration’s 60-day deadline to come to an agreement ends today. All non-essential embassy staff in Baghdad were ordered to leave, while non-essential staff and family members were given the green light to leave Bahrain and Kuwait.

“They are being moved out because it could be a dangerous place,” Trump told reporters yesterday in comments that expressed his pessimism that Iran would agree to stop enriching uranium. In reference to repeated threats that the US could bomb Iran if the talks fall apart, Iranian Defence Minister Aziz Nasirzadeh warned that Tehran would respond to any strikes with attacks on US bases in the region.

Escalation fears drove Brent crude prices up over 5% and past the USD 70 a barrel mark during trading, before paring back gains to end the day 4.3% up at USD 69.77 a barrel. Safe-haven asset gold also saw an uptick in investor appetite, rising 1.3% to USD 3385.90 per troy ounce. (Bloomberg | Financial Times | Reuters | Associated Press | Wall Street Journal | Washington Post)

World Bank keeps growth forecasts steady despite tariff tension turmoil

The World Bank sees the Egyptian economy growing at a 3.8% y-o-y clip for the current fiscal year, keeping its outlook unchanged from its previous forecast in April, the international lender said in its latest biannual Global Economic Prospects report (pdf). The bank also kept its growth forecast for the next fiscal year starting next month penciled in at 4.2% y-o-y.

The decision to keep forecasts stable gives us an insight into the impact of Trump’s refueling of the trade war with his April 2 “Liberation Day” tariff announcement. Egypt appears to have fared tariff uncertainty much better than some had feared and much better than some of our regional peers — some of which have also struggled with falling oil prices. Growth forecasts for the current year are 0.3 percentage points above the bank’s pre-trade war January forecast, while its forecast for the coming fiscal year has remained steady.

We also got the World Bank’s first growth forecast for FY 2026-2027, which sees the economy accelerating again at a 4.6% y-o-y clip.

The World Bank’s forecasts are more pessimisic than the Madbouly government’s predictions, which see GDP growth coming in at a 4.0% y-o-y clip in FY 2024-2025, before rising to 4.5% in FY 2025-2026 and further to 5.0% in FY 2026-2027. Fitch Solutions’ research unit BMI is also more optimistic, along with IMF and EBRD, while S&P Global Ratings is less optimistic than the World Bank.

The report attributes the three consecutive annual upticks in growth to “stronger private consumption, higher private investment — spurred by the implementation of the investment deal with the United Arab Emirates and anticipated monetary easing — and a gradual rebound in manufacturing activity.” Macroeconomic stabilization, calming of political tensions, and tourism sector recovery were also highlighted as reasons why the bank expects growth to continue climbing.

Egypt’s current account deficit is also expected to narrow in FY 2025-2026, driven by a combination of lower oil and natural gas prices, strong remittances, and a “vibrant tourism sector,” the bank suggests. The non-oil trade deficit is also expected to shrink as “the effects of clearing import backlogs from FY 2024-2025 subside.”

But despite a broadly optimistic picture, fiscal deficits in oil importers like Egypt are projected to widen in 2025, which the bank partly attributes to “Egypt’s higher interest payments and decline in non-tax revenues” after a significant one-time increase from the Ras El Hekma agreement with the UAE. Deficits are expected to decline slightly in 2026, however, as “fiscal consolidation proceeds in Egypt in FY 2025-2026, by implementing a reduction in energy subsidies and enhancing tax revenue mobilization efforts.” Persistent inflation is also expected to keep poverty levels “elevated,” according to the report.

The region as a whole, however, has not fared trade tensions and a slump in oil prices as well as Egypt, with the World Bank’s latest forecasts for the Middle East and North Africa coming in at 2.7% y-o-y for the current fiscal year. Despite a marginal 0.1 percentage point upgrade from its April projection on the back of “an expansion of oil activity in oil exporters,” forecasts are still 0.7 percentage points below the World Bank’s pre-trade war January forecast and a whole 1.5 percentage points below the bank’s 2025 forecast before that.

Wafa Assurance submits MTO to acquire up to 100% of Delta Ins.

Attijariwafa Bank’s ins. arm Wafa Assurance submitted a mandatory tender offer to acquire up to 100% of Delta Ins. — or 125 mn shares — at EGP 40 apiece, according to an EGX disclosure (pdf) by the Financial Regulatory Authority (FRA). The transaction, valued at up to EGP 5.0 bn, requires a minimum acceptance threshold of 51% of shareholders to go through and is currently being reviewed by the FRA.

ICYMI- Wafa Assurance, along with Axa Egypt, registered its interest in snapping up to 100% of the Egypt Kuwait Holding subsidiary in December by submitting a non-binding offer. However, Axa pulled the plug on its bid in late May, triggering a six-month cooling-off period during which it is barred from launching new tender offers for Delta Ins.

The details: The acquisition includes an additional 25 mn new shares pending EGX listing. Wafa has also committed to purchasing any remaining shares not tendered at the same EGP 40 price within six months of the bid closing should a shareholder notify the company of their intention to sell.

Wafa Assurance is also looking to take Delta Ins. private, with plans to delist the company from the EGX following the acquisition, according to the disclosure.

The Moroccan ins. player also plans to merge Delta Life Assurance — a subsidiary of Delta Ins. — with its own life ins. arm within two months of closing the transaction, or a maximum of six months from filing a request with the FRA.

US opens anti-dumping probe into Egyptian rebar exports

The US has opened an official anti-dumping and countervailing duty investigation into imports of Egyptian rebar, alongside similar probes into exports from Algeria, Vietnam, and Bulgaria, according to a notice (pdf) issued by the US International Trade Commission. The move follows a complaint from six major American steel producers who allege that these countries are dumping rebar in the US market at unfair prices and benefiting from state subsidies that violate US trade laws.

The commission is required to issue a preliminary determination by 21 July on whether Egyptian and other targeted rebar exports have materially harmed or threatened US industry. If the ruling finds merit to the claims, the US could impose anti-dumping duties and additional tariffs on rebar imports from Egypt.

The US investigation is part of a broader trend of increasing trade protectionism that has already hit Egyptian industries — particularly steel and petrochemicals. Earlier this year, the Trump administration imposed a 25% blanket tariff on all steel imports, while the EU slapped a 15.6% temporary tariff on Egyptian hot rolled coil, pending a final decision in October. Egyptian steel exports have already taken a hit, dropping 4.0% y-o-y in 2024 to USD 2.3 bn, according to data from the Export Council for Building Materials.

But it's not just Egypt’s metal exports facing anti-dumping allegations, with Morocco imposing temporary anti-dumping duties of up to 92.2% on Egyptian PVC imports earlier this week, citing similar dumping concerns. Moroccan authorities have also opened probes into galvanized wire from Egypt and maintain duties on several other products, including carpets and canned tomatoes.

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Egypt’s auto sales jump 14.8% m-o-m in April

Vehicle sales rose to 12.3k units in April, up 14.8% m-o-m from 10.8k in March, according to figures from the Automotive Marketing Information Council (Amic) seen by EnterpriseAM. The uptick reflects continued momentum in Egypt’s auto market, which has been staging a steady recovery since February, which kicked off following a 22.0% drop in January.

Passenger vehicle sales climbed 17.7% m-o-m to 9.8k units in April, extending gains from the previous month. Truck sales were also up 8.9% m-o-m to 1.9k units. Buses were the only segment to see a drop, falling 6.6% m-o-m to 641 units.

April’s figures represent a significant improvement compared to the same month lastyear, as total auto sales jumped 117.7% y-o-y, with passenger vehicles rising 116.2%, buses up 94.8%, and trucks soaring 135.7% compared to the same period last year. April 2025 saw 12.3k units sold compared to 5.7k in April 2024.

REMEMBER- Auto sales saw a partial recovery last year, growing some 13.2% y-o-y with some 102.2k vehicles sold throughout the year after the market got the chance to catch its breath after a turbulent period triggered by an FX crunch that limited supply in the market and gave distributors leverage to hike prices as they pleased.

A caveat to the numbers: Amic figures are sourced from member distributors, representing the bulk — but not the entirety — of the industry.

AfDB commits USD 184 mn to Egypt’s Obelisk solar and battery project

The African Development Bank (AfDB) is putting its financial weight behind Africa’s largest under-construction solar power plant, through a USD 184.1 mn financing package approved by the development bank’s board that will go towards the Obelisk 1.1 GW solar and 200 MWh battery storage project in Nagaa Hammadi, the development bank said in a statement.

The recently approved funding will account for nearly a third of the project’s entire investment cost, estimated to total some USD 590 mn. Alongside the AfDB, Scatec signed equity bridge loans worth USD 120 mn for the project and put off project equity injections until construction is done. The Arab Energy Fund will also provide USD 90 mn, while the European Bank for Reconstruction and Development will provide another USD 30 mn.

REMEMBER- The first phase will bring 561 MW of solar energy and /200 MWh of battery storage online in the first half of 2026 and the second phase will add another 564 MW of solar power in the second half of 2026. Scatec will also handle engineering, procurement and construction, asset management, and operations & maintenance and has signed a USD-denominated, 25-year Power Purchase Agreement with the Egyptian Electricity Transmission Company.

Canada also contributed USD 18.6 mn to the total amount via the Canada-AfDB Climate Fund, which Canadian Ambassador to Egypt Ulric Shannon said it was proud to do, describing the project as “a meaningful step toward enhancing energy security and stability, with direct benefits for the Egyptian people.”

Telecom Egypt in MoU for subsea cable linking Africa, Asia, and Europe. PLUS: News from Madinet Masr, Moharram & Partners

INFRASTRUCTURE-

Telecom Egypt will implement a subsea cable linking Africa, Asia, and Europe as part of an international consortium that includes UAE-headquartered Zain Omantel International, Hong Kong-based PCCW, and Italian outfit Sparkle under an MoU inked between the four parties, according to a joint press release (pdf).

The details: The Asia-Africa-Europe-2 (AAE-2) subsea cable system will connect Hong Kong and Singapore to Italy while “traversing secure and high-capacity terrestrial corridors across Thailand, the Arabian Peninsula and Egypt.” It will also include extensions to additional key destinations. The AAE-2 cable — building on the AAE-1 subsea link — is set to deliver “unprecedented capacity” across the three continents while supporting demand for cloud services, content delivery, and digital transformation projects.

SPORTS-

Real estate developer Madinet Masr is set to open the first branch of its EGP 2 bn KlubKayan sports club at its Taj City development in New Cairo by the end of 2026, CEO Abdallah Sallam told Al Borsa. The company has already broken ground on the branch and plans to open another in its Sarai development by the end of 2027.

REMEMBER- Operated by sports clubs management company Blue Ribbon, Klub Kayan will be connected to Taj City’s Lemania Swiss International School in an integrated project — called Project Kayan — that brings sports and education under one roof.

EXPANSION-

Public policy advisory firm Moharram & Partners has opened a new Istanbul hub as part of its plans to grow its presence across the Middle East, Africa, and now the broader Eurasian region, the firm said on its website and in a separate statement seen by EnterpriseAM. The new office was launched through a strategic partnership with Turkish consultancy Ussal Consultancy, and aims to serve both Turkish businesses expanding into the Middle East and Africa, and multinationals operating in Turkey, while also facilitating cross-border investment flows and regional policy dialogue.

What they said: “This marks a pivotal step in our regional growth strategy,” said Chairman Mostafa Moharram. “Partnering with Ussal Consultancy allows us to tap into deep local expertise in Turkey while extending our integrated public affairs and strategic communications services to a broader client base.”

HOSPITALITY-

The government is planning to add 19k hotel rooms to the country’s total capacity this year to meet rising demand, Tourism Minister Sherif Fathy said during a meeting with Prime Minister Moustafa Madbouly earlier this week. The ministry is setting up a unit to monitor and catalogue investment prospects, he added.

DATA POINT- Egypt added 7.2k hotel rooms to its total capacity last year, Fathy said.

World Bank sees global growth slowing to a near two decade low in 2025

Global growth to slow down to lowest rate since 2008 on the back of trade conflicts: The World Bank expects GDP growth to weaken to 2.3% in 2025 on a global level, in what would mark the slowest rate of growth in almost 17 years, without counting outright global recessions, the bank wrote in its latest Global Economic Prospects report (pdf). The forecast for 2025 represents a drop of 0.4 percentage points from the bank’s previous forecast in January, while its forecast of 2.4% growth in 2026 is 0.3 percentage points lower than the bank’s prediction at the start of the year.

The rationale: The bank sees global growth deteriorating on the back of a “substantial rise in trade barriers and the pervasive effects of an uncertain global policy environment,” with the outlook largely depending on how trade policy evolves globally. “Growth could turn out to be lower if trade restrictions escalate or if policy uncertainty persists, which could also result in a build-up of financial stress,” the report reads.

The risks don’t end there: Other risks to growth include “adverse global spillovers, worsening conflicts, and extreme weather events,” as well as the possibility of lower-than-expected growth in major economies.

Some hope? However, the outlook could improve should major economies sign “lasting agreements that address trade tensions,” the bank said.

^^This is already happening: The US and China have finally reached a trade agreement that could end a long and heated tit-for-tat that started with the US’ imposition of a 145% tariff on Chinese imports, though few details have emerged and the final agreement still requires sign-offs from the countries’ leaders.

The US is now expected to see its GDP growth slow to 1.4% in 2025, before seeing a slight uptick to 1.6% in 2026. The forecast for 2025 is 0.9 percentage points lower than it was in the bank’s forecast in January, while that of 2026 is 0.4 percentage points lower than the previous forecast.

The bank also trimmed the Euro Area’s growth forecast, expecting growth to slow to 0.7% in 2025 (0.3 percentage points lower than the previous forecast) before rising slightly to 0.8% in 2026 (0.4 percentage points lower than the previous forecast).

As for China, the World Bank kept its forecast for the country unchanged at 4.5% growth in 2025, and 4.0% in 2026, “as the impact of higher trade barriers and weaker external demand is assumed to be offset by the boost from additional fiscal policy support,” it wrote.

REGIONALLY- Growth in the MENA region is expected to strengthen to 2.7% in 2025 — up 0.1 percentage points from its previous forecast in April — before strengthening further to 3.9% in 2026-27, on the back of “an expansion of oil activity in oil exporters, which more than offsets the adverse effects of weakening external demand and lower oil prices.”

Growth in GCC economies is expected to increase to 3.2% in 2025 (unchanged from its April forecast), 4.5% in 2026, and 4.8% in 2027. “The phase-out of OPEC+ oil production cuts starting in April 2025 is expected to lead to rising oil production, despite projected lower oil prices amid weakening global demand,” according to the report.

MARKETS THIS MORNING-

Asian markets are mixed this morning, with Hong Kong’s Hang Seng index and Japan’s Nikkei leading losses. South Korea’s Kospi, on the other hand, is up 0.3%. Over on Wall Street, futures are subdued despite news of a trade agreement between the US and China and positive May inflation data.

EGX30	32,935	+0.1% (YTD: +10.7%)
USD (CBE)	Buy 49.42	Sell 49.56
USD (CIB)	Buy 49.46	Sell 49.56
Interest rates (CBE)	24.00% deposit	25.00% lending
Tadawul	11,005	0.0% (YTD: -8.6%)
ADX	9805	+0.1% (YTD: +4.1%)
DFM	5956	-0.1% (YTD: +8.5%)
S&P 500	6022	-0.3% (YTD: +2.4%)
FTSE 100	8864	+0.1% (YTD: +8.5%)
Euro Stoxx 50	5393	-0.4% (YTD: +10.2%)
Brent crude	USD 69.77	+4.3%
Natural gas (Nymex)	USD 3.52	+0.4%
Gold	USD 3385.90	+1.3%
BTC	USD 108,919.50	-0.9% (YTD: +16.5%)
S&P Egypt Sovereign Bond Index	877.17	-0.1% (YTD: +12.8%)
S&P MENA Bond & Sukuk	144.09	+0.2% (YTD: +3.0%)
VIX (Volatility Index)	17.26	+1.8% (YTD: -0.5%)

THE CLOSING BELL-

The EGX30 rose 0.1% at yesterday’s close on turnover of EGP 5.3 bn (12.0% above the 90-day average). International investors were the sole net buyers. The index is up 10.7% YTD.

In the green: GB Corp (+4.0%), CIB (+2.0%), and Egypt Aluminum (+1.9%).

In the red: Qalaa Holding (-3.1%), Eastern Company (-2.8%), and Emaar Misr (-2.3%).

CORPORATE ACTIONS-

Premium Healthcare Group has successfully completed the first phase of its capital increase, with 95.6% of offered shares subscribed during the subscription period from 8 May to 3 June, according to a statement seen by EnterpriseAM. Some 21.8 bn of the 22.8 bn shares on offer were taken up. The company will announce the details of the second subscription phase after obtaining regulatory approval.

REMEMBER- The Financial Regulatory Authority approved raising Premium Healthcare Group’s issued and paid-up capital in March 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.

My Morning Routine: Mostafa Habib, co-founder of VeryNile

Mostafa Habib, co-founder of VeryNile: Each week, My Morning Routine looks at how a successful member of the community starts their day — and then throws in a couple of random business questions just for fun. Speaking to us this week is Mostafa Habaib (LinkedIn), co-founder of VeryNile. Edited excerpts from our conversation:

My name is Mostafa Habib, I’m 34. I graduated with a degree in architectural engineering. I used to work in marketing in the past, but I always had a dream to work in development. My grandmother and aunt used to work as pediatricians, so I always felt the need to help children too.

At some point, I felt like I wanted to stop jumping from one marketing firm to another and decided to take a step towards my dream. I packed and travelled to Aswan, where I lived for two or three months. There, I attempted to build a community school on Heisa Island near the Philae Temple. It was a good trial, but it failed. I wasn’t ready for it yet, but I ended up connecting with a development community and observing their work.

I then came back to Cairo, and I thought of how people are able to swim in the Nile in Aswan, but not in Cairo. I coincidentally met with two of my friends who have their own social enterprise — Bassita — that used to help NGOs and initiatives raise funds through clickfunding. I joined them, and we started building VeryNile in 2018.

We didn’t have direct funding when we first started — no one trusted our project. People were skeptical. There wasn’t enough awareness at the time in Egypt about environmental initiatives and cleaning. But, volunteering was a big trend, and this was one of the things we leveraged at the beginning.

We continued working on Bassita while looking for someone who believed in our idea. We talked to private and public sector players with no luck. That’s until I made a Facebook post introducing the idea of VeryNile and seeking contacts to fund the project.

We ended up reaching people at the UN’s International Organization for Migration, which expressed their interest and wanted to help. The organization provided us with financial support. We also partnered with Greenish, an environmental solutions provider that works on raising awareness about environmental solutions and providing the support and knowledge needed to help entrepreneurs launch their own green startups.

I think the turning point was the first event we held in December 2018, which was quite successful. Over 250 volunteers participated in the event and helped us collect 1.5 tons of waste in three hours. The event received widespread media coverage, and we ended up honored by the environment and irrigation ministries.

We collected over 100 tons of waste from the Nile during our first four years of operations. We have continued our cleanups, not only during events, but alongside fishermen and women who live on islands in Cairo and Assiut. We made more than 450 partnerships with the private sector, including partnerships with UN agencies.

The lotus flower started to flourish again on Qursaya island, where we used to work all the time — and that felt like the right time to end my journey with VeryNile.

Social development is very close to my heart. After exiting VeryNile, I decided that I wanted to work with orphanages. I’ve always volunteered in orphanages and always had my objections about some things that would happen there, so I decided to change that. I wrote a proposal to the Social Solidarity Ministry detailing my concerns, after which I was asked to join the ministry and handle corporate social responsibility and partnerships with the private sector, and so I did.

It’s been two years since I started working with the ministry, and I’m very grateful. I get to learn about the different numbers and statistics behind every area I want to work in, including the number of orphanages and elderly homes in the country, individuals with disabilities, and more. I’m currently in the learning phase.

The most popular causes at the moment are financial inclusion, economic empowerment, women empowerment, and early-childhood empowerment. This last one includes working with children starting at a young age, working with nurseries, focusing on educational inclusion, and shedding light on positive parenting — which is one of the biggest problems in the world, not just in Egypt.

I’m currently working on a project targeting women who crochet. A lot of women work in crochet, but no one is buying their products. We’re offering them vocational training to develop soft skills on how to market their product, manage their business, and more. We’re also working on a project targeting jasmine flower collectors.

The best thing about working in development is that one thing leads to another. Even a small effort often has a big impact on the community.

My morning routine usually starts with coffee. I have recently gotten into the habit of reading self-help books in the morning; I’m currently reading You Can Heal Your Life by Louise L. Hay. After a little bit of reading, I make affirmations, pray, and check up on my sister and her baby. Then, the day unfolds depending on my schedule. I try my best to make some time for my family, and at night I enjoy watching sports.

It’s important for me to always feel like my job has a purpose. Maybe I’m not always well-paid, but at least I feel satisfied with what I do. Even outside of work, I always like to give back.

I want to have my own thing soon, after learning everything I can from the ministry. I want to open a school for autistic children in Egypt. I also wish to open a consultancy agency that acts as a bridge between the private sector, the development sector, NGOs, and small businesses. On a personal level, I want to achieve those goals, buy a home in Aswan, and then move there.

We have the financial resources in Egypt, but those who have the money don’t know where and how to deploy it into development initiatives, and development initiatives don’t know how to reach the right investors.

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

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.

NOVEMBER

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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World Bank keeps growth forecasts steady despite tariff tension turmoil

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