{"id":563195,"date":"2021-06-22T03:50:32","date_gmt":"2021-06-22T03:50:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/of-export-subsidies-and-africa\/"},"modified":"2021-06-22T03:50:32","modified_gmt":"2021-06-22T03:50:32","slug":"of-export-subsidies-and-africa","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/of-export-subsidies-and-africa\/","title":{"rendered":"Of Export subsidies and Africa\u2026"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>The Export Subsidy Fund has paid out EGP 4.3 bn in arrears to exporters<\/strong> as part of the second stage of the subsidy program, which ran through February, Trade Minister Nevine Gamea said in a <a href=\"https:\/\/www.facebook.com\/photo?fbid=161041192732976&set=a.144073987763030\">statement<\/a> yesterday. The fund has paid out some EGP 27 bn in arrears since the launch of the program last year, which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5860d554-ec83-4cee-9ae1-d8f1809bacb8\">allowed companies to receive overdue subsidies in bulk<\/a> instead of in installments over several years, provided that they agree to take a 15% haircut.<\/p>\n<p><strong>The new incarnation of the subsidy program will launch in July:<\/strong> As of FY2021-2022, exporters in the automotive, ceramics, pharma, electronics, and chemicals industries will be eligible to sign up to the program for the first time, the ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5207b7b8-2250-409c-8016-5f52c955883b\">said last week<\/a>. <strong>The program will feature specific incentives to trade with other African countries<\/strong>, and will run for three years for most sectors except the auto industry, which will continue to receive support until 2028.<\/p>\n<p><strong>Egypt has weak trading links with Africa:<\/strong> Africa accounted for just 1% of<sup><\/sup><sup><\/sup> Egypt\u2019s total trade in FY2019-2020, according to government data.<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/08\/afcftas-operational-phase-launched-at-au-summit\/\">new African trade zone<\/a><\/strong><strong> is hoped to boost continental trade<\/strong> by lowering tariff and non-tariff barriers to trade and strengthening regional supply chains. Egypt ratified the agreement in 2019 and <a href=\"https:\/\/au.int\/en\/pressreleases\/20210104\/african-business-council-applauds-start-trading-basis-afcfta\">began trading under its terms at the beginning of 2021<\/a>.<\/p>\n<p><strong>The Egyptian Businessmen Association (EBA) is also eyeing up Africa:<\/strong> The industry association is considering establishing a consortium to compete for infrastructure and grand reconstruction projects in Africa, Deputy board Chairman Fathallah Fawzi said during an EBA webinar, <a href=\"https:\/\/hapijournal.com\/2021\/06\/21\/%D8%AC%D9%85%D8%B9%D9%8A%D8%A9-%D8%B1%D8%AC%D8%A7%D9%84-%D8%A7%D9%84%D8%A3%D8%B9%D9%85%D8%A7%D9%84-%D8%AA%D8%AF%D8%B1%D8%B3-%D8%AA%D8%A3%D8%B3%D9%8A%D8%B3-%D9%83%D9%88%D9%86%D8%B3%D9%88%D8%B1%D8%AA\/\">Hapi Journal<\/a> reports. The consortium would include construction, contracting and consulting firms, as well as government entities, and would further Egypt\u2019s goals to deepen trade ties with other African markets. Egypt had also been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d5ec9946-d3df-4886-a6a6-125ce338e42f\">mulling<\/a> joining a USD 1 bn continental transit [assurance] scheme to encourage trade across Africa.<\/p>\n<p><strong>EBA members also took part in a two-day ICT sector networking event for African and <\/strong><strong>European companies ending today<\/strong> \u2014 according to <a href=\"https:\/\/bit.ly\/3cYL8OV\">Masrawy<\/a> \u2014 in a meeting that aims to provide a gateway to new markets for companies operating in Egypt and Africa.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Export Subsidy Fund has paid out EGP 4.3 bn in arrears to exporters as part of the second stage of the subsidy program, which ran through February, Trade Minister Nevine Gamea said in a statement yesterday. The fund has paid out some EGP 27 bn in arrears since the launch of the program last [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":563196,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8516],"tags":[7098,1684,72,332,132],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-563195","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trade","tag-africa","tag-egyptian-businessmen-association","tag-enterpriseam","tag-export-subsidy-fund","tag-trade","wpautop","entry"],"acf":{"mongo_id":"450ffb48-bf61-4d6a-b579-d7b0ab8da200","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/6\/281.jpg","photo_position":"above","related_issue":[563186],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Of Export subsidies and Africa\u2026 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/of-export-subsidies-and-africa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Of Export subsidies and Africa\u2026\" \/>\n<meta property=\"og:description\" content=\"The Export Subsidy Fund has paid out EGP 4.3 bn in arrears to exporters as part of the second stage of the subsidy program, which ran through February, Trade Minister Nevine Gamea said in a statement yesterday. The fund has paid out some EGP 27 bn in arrears since the launch of the program last [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/of-export-subsidies-and-africa\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-22T03:50:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/281.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/of-export-subsidies-and-africa\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/of-export-subsidies-and-africa\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Of Export subsidies and Africa\u2026\",\"datePublished\":\"2021-06-22T03:50:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/of-export-subsidies-and-africa\/\"},\"wordCount\":348,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/of-export-subsidies-and-africa\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/281.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Africa\",\"Egyptian Businessmen Association\",\"EnterpriseAM\",\"export subsidy fund\",\"trade\"],\"articleSection\":[\"Trade\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/of-export-subsidies-and-africa\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/of-export-subsidies-and-africa\/\",\"name\":\"Of Export subsidies and Africa\u2026 - 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The sources said 37 exporters requested that\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":585777,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/govt-to-hand-out-another-egp-10-bn-in-export-subsidies\/","url_meta":{"origin":563195,"position":1},"title":"Gov\u2019t to hand out another EGP 10 bn in export subsidies","author":"enterpriseam admin","date":"30 April 2023","format":false,"excerpt":"The sixth phase of the program opens for applications in May","rel":"","context":"In &quot;Trade&quot;","block_context":{"text":"Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/950.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574301,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/06\/export-subsidy-fund-to-pay-out-egp-400-mn-in-overdue-subsidies-in-september\/","url_meta":{"origin":563195,"position":2},"title":"Export Subsidy Fund to pay out EGP 400 mn in overdue subsidies in September","author":"enterpriseam admin","date":"6 September 2020","format":false,"excerpt":"The Export Subsidy Fund will dole out EGP 400 mn in export subsidies this month after inking 35 new agreements with exporters to disburse EGP 2 bn in subsidy arrears, Finance Minister Mohamed Maait said in a statement yesterday. This brings the total number of agreements signed with exporters since\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/9\/68.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594873,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/10\/finmin-has-paid-exporters-egp-1-4-bn-in-subsidy-arrears-maait\/","url_meta":{"origin":563195,"position":3},"title":"FinMin has paid exporters EGP 1.4 bn in subsidy arrears -Maait","author":"enterpriseam admin","date":"10 September 2019","format":false,"excerpt":"FinMin has paid exporters EGP 1.4 bn in subsidy arrears -Maait: The Finance Ministry has disbursed over the past few weeks EGP 1.4 bn in overdue subsidy payments the government has owed to exporters since last year, Finance Minister Mohamed Maait said yesterday, according to Hapi Journal. A number of\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621743,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/18\/whats-happening-with-the-promised-release-of-export-subsidy-funds-ask-egypts-exporters\/","url_meta":{"origin":563195,"position":4},"title":"What\u2019s happening with the promised release of export subsidy funds, ask Egypt\u2019s exporters","author":"enterpriseam admin","date":"18 November 2018","format":false,"excerpt":"What\u2019s happening with the promised release of export subsidy payments, ask Egypt\u2019s exporters: Egyptian exporters frustrated by what they feel is a lack of action from the government on releasing long-overdue export subsidies are urging Prime Minister Moustafa Madbouly to take action. Egypt\u2019s export councils, along with the Egyptian Businessmen\u2019s\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":672263,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/22\/finance-ministry-begins-clearing-export-dues-backlog-with-first-tranche-of-direct-payments-2\/","url_meta":{"origin":563195,"position":5},"title":"Finance Ministry begins clearing export dues backlog with first tranche of direct payments","author":"enterpriseam admin","date":"22 September 2025","format":false,"excerpt":"The move is part of the state\u2019s efforts to clear EGP 60 bn in overdue payments to exporters tied to shipments dating back to before 30 June 2024","rel":"","context":"In &quot;Trade&quot;","block_context":{"text":"Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/381.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=563195"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563195\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/563186"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/563196"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=563195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=563195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=563195"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=563195"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=563195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}