Latest in Highlight
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Source Beauty raises pre-seed funding from 500 Startups
E-commerce startup supports locally sourced beauty products, plans regional and worldwide expansion
World denounces Trump’s WHO funding halt
UN Secretary-General Antonio Guterres calls decision timing inappropriate
S. Korea Eximbank, Egypt discuss funding new projects in local market
Egypt received a business delegation of major S. Korean companies in October
Banks’ SMEs funding amounts to EGP 146bn, targeting EGP 200bn by year-end: El-Etreby
The CBE has instructed banks working in the local market to allocate 20% of their loan portfolios to finance SMEs. El-Etreby pointed out that NGOs were also included within this segment.
MSMEDA pumped EGP 89.2m to finance 3,836 projects in Qena in 5 months
Governorate seeks to cooperate with agency to help young graduates implement projects, become entrepreneurs, said Al-Hagan
Metropolitan Egypt considers funding Khute Spinning with EGP 50m
Loan to be directed to establish 10,000 sqm textile factory in Greater Cairo
‘Eitesal’ launches project to support entrepreneurship with EU funding
Eitesal has launched a new project for entrepreneurship in Egypt, named Egypt Innovation and Entrepreneurship Project – InnoEgypt, with funding from the European Union and the Egyptian government. Four large institutions in Egypt are taking part in the project. They are SEKEM Development Foundation, Eitesal, Techno El-Kher Assiut, and Mohamed Farid Khamis Foundation, in cooperation …
Banque Misr seeks to seal funding deals worth EGP 81.3bn in different economic sectors
The bank has arranged loans worth EGP 32.9bn in FY 2016/2017, from which several sectors benefitted, including electricity, public services, and contracting
Egypt funding gap to hit $12-14bn in current and next fiscal year: Finance Minister
The government considers all options to bridge the gap
IFC invests $26.2bn in funding startups across MENA region
The International Finance Corporation (IFC), which recently took part in the $2.5m fund that was raised by Palestine’s Ibtikar, is heavily investing in a number of startups across the MENA region. Part of the World Bank Group, IFC has reached a total sum of $26.2bn in investments in Arab-based startups. In addition to its investment …
EMF seeks to increase customers to 10 million at total funding of EGP 30bn within four years: chairperson
The EMF includes eight banks, three companies, 752 institutions, and a civil society organization, in addition to the Micro, Small, and Medium Enterprises Development Agency: Zulficar
Banque Misr negotiates with international funding institution to obtain new dollar debt: bank’s chairperson
The bank signs a loan agreement with CDB for $500m during its participation in the Silk Road Conference
Startups in the Middle East: a fun(ding) adventure
The Middle East is a region of great opportunity. We have a large and young population with more than its fair share of problems, and as every entrepreneur knows, every problem is an opportunity; the bigger the problem, the bigger the opportunity. As a region, we are also one of the largest exporters of capital …
Shoukry calls for investigations in funding of terrorist organisations
The parliament will furthermore work on a law to establish a supreme council to combat terrorism
Careem becomes MENA’s second unicorn, raises $350m
Ride-hailing app Careem announced closing an initial investment round of $350m, as part of a $500m funding round. The investment of $350m was co-led by Japan’s Rakuten Inc. and telecom operator Saudi Telecom Company (STC). Up until now, investors in Careem include Abraaj Group, Al Tayyar Group, Beco Capital, El Sewedy Investments, Endure Capital, …
Two revolutions and a US dollar crisis dilute funding development dream of EGX
EGX peaked in 2008 when its market capital recorded unprecedented levels, but it gradually receded due to sharp political and economic fluctuations
UAE to support Egypt’s foreign exchange reserves with $2bn funding: Abu Dhabi crown prince
The CBE announced that the balance of the foreign exchange reserves increased to $16.561bn in March, and is expected to increase to about $18.5bn, after receiving funding from the UAE
Orchestrated assault: Rights NGOs condemn reopening foreign funding case
Timing of the attack suggests it is punishment for engaging with OHCHR, and the UN secretary-general, according to 17 organisations
Will CBE’s initiative solve funding concerns for IT companies?
Egyptian banks, however, are seeking to make their loans more competitive with other funding sources to increase their funding share
Careem acquires funding worth $60m
Abraaj Group is a lead investor in the new deal for the application-based car service provider
Ministry of Antiquities operating with 90% loss of funds
Lack of funds is stalling key restoration and construction work
Mehleb witnesses signing of pollution control funding agreement worth €70m: Cabinet
Project to provide technical and financial support to industrial facilities in line with environmental laws for pollution reduction
GIZ allocating $50m for green building and sustainable community projects: Wehenpohl
German company launching 17 development projects in Egypt, including ones to develop informal areas in Cairo
Japan still considering whether to participate in Egypt’s economic summit: Kagawa
Japanese private sector faces many problems in Egypt, notably accessing foreign currency, says Japanese ambassador
Shoukry warns against sectarian and ethnic conflict during Bahrain summit
Egyptian foreign minister is on two-day trip to the Gulf country to discuss international security in Middle East
Saudi Arabia allocates $350m to Egypt in 3 agreements
The agreements include two electricity stations in Western Damietta and El-Shabab
Carbon Holdings negotiating $400m Emirati investment in Tahrir Petrochemical Complex
UAE may donate shares in the project to Egyptian government
Public banking exemption from Suez Canal certificates ‘necessary’ to maintain liquidity’: Arabiya Online chair
The government’s drive to fund the Suez Canal project through investment certificates is raising fears that private sector banking will be pushed out
Bibliotheca Alexandrina receives EU funding
EU Ambassador tells DNE that “culture is not just for the elite, it is a vector and a dynamic for the future”
US Senate bill allows room for aid to return to Egypt
New legislation gives US president waiver over ‘foreign funding law’ within the context of national security