{"id":673880,"date":"2025-10-20T00:00:00","date_gmt":"2025-10-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/20\/visa-to-expand-operations-in-cairo\/"},"modified":"2025-10-20T00:00:00","modified_gmt":"2025-10-20T00:00:00","slug":"visa-to-expand-operations-in-cairo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/20\/visa-to-expand-operations-in-cairo\/","title":{"rendered":"Visa to expand operations in Cairo"},"content":{"rendered":"<p class=\"tag-border-left\">PAYMENT SERVICES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Global payment services giant Visa plans to expand its operations in Cairo&nbsp;<\/strong>on the back of the country\u2019s competitive advantages in operational costs, efficiency, and technical infrastructure, company representatives <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/-%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D9%88%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D8%A9-%D8%A7%D9%84%D8%AE%D8%A7%D8%B1%D8%AC%D9%8A%D8%A9-%D9%8A%D8%A8%D8%AD%D8%AB-%D9%85%D8%B9-%D8%B4%D8%B1%D9%83%D8%A9-visa-%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%85%D9%8A%D8%A9-%D8%A7%D9%84%D8%AA%D8%B9%D8%A7%D9%88%D9%86-%D9%81%D9%8A-%D8%AF%D8%B9%D9%85-%D8%A7%D9%84%D8%AA%D8%AD\/1373208138182936\/?utm_source=chatgpt.com\" style=\"\" rel=\"noopener\">said<\/a> during a meeting with Investment Minister Hassan El Khatib. Visa aims to develop new government payments and e-commerce solutions in the country, the statement noted. The company has already quadrupled its workforce at its Cairo office to around 120 employees and views Egypt as one of its \u201ccore markets\u201d for its global strategy, alongside Japan, Germany, Brazil, Mexico, Saudi Arabia, and South Africa.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Editor's note: The story has been amended on 22 October 2025, to clarify that Visa will not relocate its digital sales center from Dubai to Cairo, based on the Investment Ministry's revised statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p class=\"tag-border-left\">CAPITAL MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Post for Investment subsidiary <\/strong><strong><a target=\"_blank\" href=\"https:\/\/pfi-am.com.eg\/\" style=\"\" rel=\"noopener\">PFI Asset Management<\/a><\/strong><strong> launched its first <\/strong><strong>sponsored mutual fund<\/strong> \u2014 the PFI Money Market Fund, aka PFI Cashi \u2014 it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/10\/864.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The fund joins three others managed by the company, including HDBank\u2019s Mawared fund and two for GIG Ins. Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cThis launch affirms PFI Asset Management\u2019s commitment to expanding its footprint in Egyptian asset management and delivering innovative investment solutions to its clients,\u201d said CEO Ghada Alkady.<\/p>\n<p class=\"tag-border-left\">HOSPITALITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Orascom Development Egypt plans to gradually reopen five hotels in Taba <\/strong><strong>that had been closed during the Gaza war<\/strong>, Investor Relations Group Head Ahmed Abou El Ella told <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/AsharqbEGY\/posts\/pfbid0vsVnQKbRbh5tSN9hE3sWk8RzqePdu8eEokRneKj8chVQA55iwvyiDidKLoYDMWdxl\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. <\/p>\n<p class=\"tag-border-left\">MINING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s Afaq Mining made a commercial gold discovery in West Gabal <\/strong><strong>Elba with reserves worth over USD 800 mn at current prices<\/strong>, <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/economics\/102979\/%D8%A2%D9%81%D8%A7%D9%82-%D9%84%D9%84%D8%AA%D8%B9%D8%AF%D9%8A%D9%86-%D8%AA%D8%B9%D9%84%D9%86-%D9%83%D8%B4%D9%81%D8%A7-%D8%AA%D8%AC%D8%A7%D8%B1%D9%8A%D8%A7-%D9%84%D9%84%D8%B0%D9%87%D8%A8-%D8%A8-200-%D8%A3%D9%84%D9%81-%D8%A3%D9%88%D9%86%D8%B5%D8%A9-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1\/?utm_term=Autofeed&amp;utm_campaign=ebx-egy&amp;utm_medium=Social&amp;utm_source=Facebook&amp;Echobox=1760860432&amp;fbclid=IwY2xjawNhpuJleHRuA2FlbQIxMABicmlkETF4cTE3ekQ5cTVwdkNOak8xAR7Rot4U88zhZjeazerzBL5ue9SMOr-2js-NlZsBDS6EN1_me33-QSCV76336A_aem_Y8WPraMAjZUcMoZm5hqu8g\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing two unnamed sources. Initial reserves are estimated at 200k ounces.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company will submit a commercial exploration study to the Egyptian Mineral <\/strong><strong>Resources Authority this week<\/strong> ahead of forming a joint venture with Shalateen Mineral Resource Company to start work on the find. Afaq has funneled over USD 20 mn into exploration efforts and plans to increase spending while also holding talks with the government to build a USD 50 mn gold production plant.<\/p>\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Real estate developer Palm Hills Developments is looking to acquire new <\/strong><strong>plots along the Red Sea coast<\/strong>, Group CEO Yasseen Mansour told <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/companies\/102970\/%D9%8A%D8%A7%D8%B3%D9%8A%D9%86-%D9%85%D9%86%D8%B5%D9%88%D8%B1-%D8%A8%D8%A7%D9%84%D9%85-%D9%87%D9%8A%D9%84%D8%B2-%D8%AA%D8%AE%D8%B7%D8%B7-%D9%84%D8%B4%D8%B1%D8%A7%D8%A1-%D8%A3%D8%B1%D8%A7%D8%B6-%D9%81%D9%8A-%D8%A7%D9%84%D8%A8%D8%AD%D8%B1-%D8%A7%D9%84%D8%A3%D8%AD%D9%85%D8%B1\/?utm_source=facebook&amp;utm_medium=social&amp;utm_campaign=asharq_business_egy_fb\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The announcement follows a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b28e25c-9c5f-4c3d-b265-fe0b110308ef\/gov%25e2%2580%2599t-preps-plan-to-boost-investment-in-the%253cmark%253e-red-sea%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">government push<\/a> to catalogue plots suitable for investments along the coastal strip ahead of marketing them to investors.<\/p>\n<p class=\"tag-border-left\">DIPLOMACY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign Minister Badr Abdelatty <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/1LuufCzyds\/\" style=\"\" rel=\"noopener\">held calls<\/a><\/strong><strong> with his Italian, Spanish, German and <\/strong><strong>Canadian counterparts <\/strong>to discuss ongoing preparations ahead of the International Conference on Early Recovery, Reconstruction, and Development in Gaza <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a8dac02a-bd93-45f1-8aca-6266d211548b\/%253cmark%253e%253c%2Fmark%253enatgas%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eproduction%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ejumps%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eq%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eo%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eq%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ein%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253e3q%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">set to be held<\/a> in Cairo in the second half of November. Abdelatty stressed the \u201curgent need\u201d to begin implementing early recovery and reconstruction plans for the strip, while his counterparts reaffirmed their readiness to maintain close coordination with Cairo on Gaza\u2019s recovery and reconstruction efforts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS- Post for Investment\u2019s PFI Asset Management has launched its first sponsored mutual fund<\/p>\n","protected":false},"author":1,"featured_media":673881,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7209],"tags":[111,102,72,7093,955,373,2074,256,354,6818,83,666],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-673880","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-capital-markets","tag-enterpriseam","tag-gold","tag-hospitality","tag-mining","tag-north-coast","tag-orascom-development-egypt","tag-palm-hills-developments","tag-post-for-investment","tag-real-estate","tag-visa","wpautop","entry"],"acf":{"mongo_id":"94bd2f3f-4328-4daa-b97a-a0ddd1b7faf6","order":"11","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/10\/904.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Visa to expand operations in Cairo","related_issue":[673863],"teaser":"PLUS- Post for Investment\u2019s PFI Asset Management has launched its first sponsored mutual fund","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.39b87d6f-4e3f-4453-92d2-f45fd17ca93e.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The agreement, which will help accelerate the use of digital payment solutions, is\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":545786,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/12\/nigeria-based-fintech-opay-moves-forward-with-pre-paid-cards-and-more-in-egypt\/","url_meta":{"origin":673880,"position":3},"title":"Nigeria-based fintech OPay moves forward with pre-paid cards and more in Egypt","author":"enterpriseam admin","date":"12 April 2022","format":false,"excerpt":"OPay is expanding in Egypt: Nigeria-based fintech player OPay is preparing to expand its footprint in Egypt, launching pre-paid cards and linking up with the central bank\u2019s new digital payment app less than a year after it first entered the country. 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