{"id":675684,"date":"2025-11-17T00:00:00","date_gmt":"2025-11-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/11\/17\/remittances-surge-to-usd-3-6-bn-in-september\/"},"modified":"2025-11-17T00:00:00","modified_gmt":"2025-11-17T00:00:00","slug":"remittances-surge-to-usd-3-6-bn-in-september","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/11\/17\/remittances-surge-to-usd-3-6-bn-in-september\/","title":{"rendered":"Remittances surge to USD 3.6 bn in September"},"content":{"rendered":"

Good afternoon, friends.<\/strong> The mercury is set to climb up this week, following the lead of a news cycle that seems to be continuing to heat up.<\/p>\n

\n

THE BIG STORY TODAY-<\/p>\n

? Remittances surged 30.9% y-o-y to USD 3.6 bn in September, <\/strong>continuing their post-EGP-float momentum with 19 consecutive months<\/a> of y-o-y remittance growth, according to a statement (pdf)<\/a> from the Central Bank of Egypt. Over the first nine months of 2025, remittances soared 45.1% y-o-y to a record USD 30.2 bn.<\/p>\n

REMEMBER- <\/strong>Remittance inflows began returning 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.<\/p>\n

It\u2019s not just the post-float collapse of the parallel market driving remittances, but <\/strong>rising inflation also. <\/strong>Many Egyptians abroad have continued to increase the amount they send to their families at home to meet the rising cost of living for Egyptian households, one analyst told EnterpriseAM. Despite the welcome news that inflation is now at its slowest pace since March 2022<\/a>, prices are still rising.<\/p>\n

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The first-phase results of the House elections face potential annulment: <\/strong>President Abdel Fattah El Sisi called on the National Election Authority to review appeals filed by a number of candidates over incidents that occurred during the first phase of the House of Representatives elections. The president asked the authority, in a statement<\/a> issued today, to take the appropriate decision \u2014 Whether a full or partial annulment of the first phase and rerun it at a later date. The statement comes in reference to appeals submitted by some candidates alleging violations and irregularities that marred the election process.<\/p>\n

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Azza<\/strong> Fahmy Foundation secures historic Cairo building for artisan training <\/strong>hub: <\/strong>The Azza Fahmy Foundation for the Development of Traditional Handicrafts (AFF) has signed an MoU with the Urban Development Fund (UDF) to allocate a building in the Darb al-Labana redevelopment project as the future home of the Azza Fahmy School of Crafts and Creativity. This marks a significant expansion for the foundation as it consolidates its artisan training, cultural programming, and community engagement, according to the foundation\u2019s press release<\/a>(pdf)<\/a>.<\/p>\n

Prime<\/strong> Minister Mostafa Madbouly attended the signing ceremony on Friday, 14 <\/strong>November<\/strong>, which took place on the sidelines of the Fustat Winter Festival launch at Fustat Hills Park. The MoU was signed by UDF Chairman Khaled Sediq and AFF Chairwoman Azza Fahmy. Madbouly praised the partnership as a model of \u201cintegration among the state, civil society, and cultural leaders to preserve the Egyptian identity,\u201d according to the State Information Service<\/a>.<\/p>\n

The new four-story, 3.1k-square-meter facility is set to house a museum, archival <\/strong>library, design and craft studios, community spaces, and galleries for cultural events.<\/strong> Founded in 2012 by Azza Fahmy, the foundation hopes to establish a centralized cultural hub that positions Egypt as a regional leader in craftsmanship and design innovation, moving from variegated initiatives to a high-impact institution that serves both local and regional communities.<\/p>\n

\n

THE BIG STORY ABROAD-<\/p>\n

? It\u2019s<\/strong> another busy afternoon in the global press in what is shaping up to be a <\/strong>pivotal week in global politics.<\/strong> Among the stories getting top billing is US President Trump\u2019s latest announcement regarding the Epstein files<\/a>. Singing an all-new tune, Trump is now calling on Republicans to vote to release the files, claiming on Truth Social<\/a> that he has \u201cnothing to hide,\u201d and that \u201cit\u2019s time to move on from this democrat hoax.\u201d<\/p>\n

ICYMI- The past few days have seen a flurry of headlines zeroing in on Trump\u2019s <\/strong>relationship with convicted [redacted] offender Jeffery Epstein<\/strong>, after a House committee released over 20k new files last week, many of which have raised some major flags pertaining to Trump and his administration, triggering panic<\/a> in the White House. (CNN<\/a> | BBC<\/a> | Reuters<\/a> | Guardian<\/a> | Financial Times<\/a>)<\/p>\n

MEANWHILE- Ousted Bangladeshi leader Sheikh Hasina has been sentenced to death<\/strong> after court rulings found her guilty of crimes against humanity for the suppression of student-led protests that resulted in her government\u2019s collapse last year. The former prime minister is currently in self-imposed exile in India, and has denounced the verdicts issued against her. \u201cI am very proud of my government\u2019s record on human rights and development,\u201d she said. Hasina has been tried in absentia since her administration\u2019s collapse, and the Indian government has ignored requests to extradite her. (CNN<\/a> | BBC<\/a> | Reuters<\/a> | Guardian<\/a>) <\/p>\n

ALSO- Saudi Crown Prince and de facto ruler Mohammed bin Salman is set to meet <\/strong>with Trump at the White House tomorrow.<\/strong> The two leaders are expected to discuss a bilateral security agreement, in which the US would pledge to defend the Kingdom in the case of any attack. The meeting would come days after Saudi Arabia\u2019s Sovereign Wealth Fund exited nine US stocks. (Politico<\/a> | New York Times<\/a>)<\/p>\n

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Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\u2600\ufe0f <\/strong>TOMORROW\u2019S WEATHER- <\/strong>It\u2019s going to be a little warmer in Cairo tomorrow, with the mercury set to peak at 27\u00b0C before dropping to 20\u00b0C, according to our favorite weather app. <\/p>\n","protected":false},"excerpt":{"rendered":"

Good afternoon, friends. The mercury is set to climb up this week, following the lead of a news cycle that seems to be continuing to heat up. THE BIG STORY TODAY- ? Remittances surged 30.9% y-o-y to USD 3.6 bn in September, continuing their post-EGP-float momentum with 19 consecutive months of y-o-y remittance growth, according […]<\/p>\n","protected":false},"author":1,"featured_media":675685,"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":[7213],"tags":[8279,7419,104,633,2396,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-675684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-art","tag-culture","tag-economy","tag-enterprisepm","tag-remittances","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"d826f3a5-e88e-4ca6-9268-19e711762cd9","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/12\/747.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Remittances surge to USD 3.6 bn in September","related_issue":[675682],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/11\/.00166c98-2403-4cf1-966d-89c224516a52.mp3"},"yoast_head":"\nRemittances surge to USD 3.6 bn in September - 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\/2025\/11\/17\/remittances-surge-to-usd-3-6-bn-in-september\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Remittances surge to USD 3.6 bn in September\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, friends. The mercury is set to climb up this week, following the lead of a news cycle that seems to be continuing to heat up. THE BIG STORY TODAY- ? 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The quarterly figure rose despite September being a slow month, with remittances dipping 3% y-o-y to USD 2.6 bn. In August, remittances grew\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/450.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591835,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/18\/remittances-rise-13-6-to-usd-6-7-bn-in-1q2019-2020\/","url_meta":{"origin":675684,"position":1},"title":"Remittances rise 13.6% to USD 6.7 bn in 1Q2019-2020","author":"enterpriseam admin","date":"18 December 2019","format":false,"excerpt":"Remittances rise 13.6% in 1Q2019-2020: Remittances from Egyptians living abroad rose to USD 6.7 bn in 1Q2019-2020, up 13.6% y-o-y from USD 5.9 bn in the same period last year, according to Central Bank of Egypt figures (pdf). Remittances rose 33.2% to USD 2.3 bn in the month of September.","rel":"","context":"In "Speed Round"","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":591475,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/08\/egyptian-expat-remittances-forecast-to-be-among-fifth-highest-in-the-world-in-2019\/","url_meta":{"origin":675684,"position":2},"title":"Egyptian expat remittances forecast to be among fifth-highest in the world in 2019","author":"enterpriseam admin","date":"8 December 2019","format":false,"excerpt":"Egyptian expats are projected to send home the fifth highest value of remittances in the world by the end of year, World Bank data shows. Remittances to the country are expected to hit USD 26.4 bn this year, down slightly from USD 29 bn last year. Globally, remittance inflows to\u2026","rel":"","context":"In "Speed Round"","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":570882,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/21\/egypts-remittances-rise-33-y-o-y-in-january-and-february\/","url_meta":{"origin":675684,"position":3},"title":"Egypt\u2019s remittances rise 33% y-o-y in January and February","author":"enterpriseam admin","date":"21 April 2020","format":false,"excerpt":"Remittances from Egyptians abroad for January and February rose by a third y-o-y to USD 5.2 bn, up from USD 3.9 bn in the same period last year, according to official data (pdf).","rel":"","context":"In "Speed Round"","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":557374,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/remittances-hit-record-high-in-fy2020-2021\/","url_meta":{"origin":675684,"position":4},"title":"Remittances hit record high in FY2020-2021","author":"enterpriseam admin","date":"16 September 2021","format":false,"excerpt":"Remittances hit a record high in FY2020-2021, growing more than 13% to USD 31.4 bn compared to USD 27.8 bn the previous fiscal year, according to central bank figures (pdf) released yesterday. Inflows rose almost 30% to USD 8.1 bn in 4Q, up from USD 6.2 bn in the same\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/219.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":579369,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/05\/current-account-deficit-narrows-20-in-1q-2022-23\/","url_meta":{"origin":675684,"position":5},"title":"Current account deficit narrows 20% in 1Q 2022-23","author":"enterpriseam admin","date":"5 February 2023","format":false,"excerpt":"Higher FDI, exports and tourism revenues are easing balance of payments pressures.","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/68.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\/675684","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=675684"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/675684\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/675682"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/675685"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=675684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=675684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=675684"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=675684"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=675684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}