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EBRD could invest USD 40 mn in SPE Capital’s new North Africa-focused fund
The USD 350 mn fund will invest in mid-cap companies in Egypt, Morocco, and Tunisia
S&P cuts three local banks credit rating days after downgrading sovereign rating
The rating agency cut Egypt’s sovereign credit rating deeper into junk last week due to the increasing FX shortage and…
EIPICO wants USD 70 mn to build third factory. PLUS: GYPTO Pharma signs EGP 4 bn worth of agreements with Saudi firm
The two banks in question to provide the funding are Qatar National Bank and Banque du Caire
IDG-led consortium to sign MoU to develop Beni Suef dry port. PLUS: Jumia + Aman, Valu + EBI, Rakta + Al Ahly Pharos, Kima + Tecnimont
The port project could require some USD 500 mn according to a local news outlet
Four banks could receive EBRD loans to fund SMEs, green projects
The financing could be made available before the end of the year, according to a senior figure at the EBRD
It was expected: Moody’s downgrades credit rating of five local banks
The move follows the agency’s decision to downgrade Egypt’s sovereign credit rating to Caa1 last week
THIS EVENING: Moody’s downgrades five of our banks’ long-term deposit ratings
Good afternoon folks. What started out as a not-so-good news day is looking more and more like a full not-so-good…
Oil Min ups oil + gas investment forecast this fiscal year. PLUS: Adnoc, IFC x Banque du Caire, Avanz Capital, Orascom Investment + EgyptAir
The government now expects investment to be up to 60% higher than in the previous fiscal year
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