• Sunday, 25 April 2021

    UAE’s Dana Gas walks back on plans to offload Egypt assets

    Sale of Dana Gas’ Egyptian assets breaks down: Abu Dhabi-listed energy producer Dana Gas has canceled plans to sell its Egypt-based onshore oil and gas assets after failing to reach an agreement on certain conditions with would-be buyer IPR Wastani...
  • Wednesday, 14 April 2021

    National Bank of Egypt profits drop 40% in 2019-2020

    State-owned National Bank of Egypt’s net income declined 40% to EGP 13.1 bn in its 2019-2020 fiscal year, compared to EGP 20.2 bn a year earlier, the bank said in a statement (pdf) this week. The statement provides little insight...
  • Wednesday, 7 April 2021

    Also on our Radar on 7 April 2021

    Things we’re keeping an eye on this morning: Our friends at Sodic now have a notary public office at its Westown development that will offer the Sodic West community access to automated government services, according to a press release (pdf).Egypt...
  • Monday, 5 April 2021

    Sawari Ventures closes EGP 440 mn Egypt tech fund

    Cairo-based VC firm Sawari Ventures has reached final close on its Egypt-focused tech fund, raising USD 28 mn (EGP 440 mn) from a handful of local and regional institutional investors, the company has announced in a statement (pdf). This fund,...
  • Monday, 5 April 2021

    TE is most influential local brand in Egypt -Ipsos

    Telecom Egypt ranked at the top of an Ipsos ranking of the most influential local brands in Egypt for 2020, with payment solutions provider Fawry coming in second. El Araby, the National Bank of Egypt, Cottonil, Venus, Chipsy, Tornado, Banque...
  • Monday, 22 March 2021

    Pharma looking to grow?

    Pharma may have appetite for capex as two manufacturers take on debt to finance new production capacity: Future Pharma Industries (FPI) has secured a EGP 350 mn loan from the National Bank of Egypt and QNB AlAhli to fund a...
  • Thursday, 18 March 2021

    Kudos on 18 March 2021

    Finance: Nineteen Kenyan and Ugandan analysts have graduated from CIB’s flagship 10-month credit analysis training program, the bank said in a statement (pdf) yesterday. Twenty-four candidates were selected for the program, more than 50% of which were women. Participants were...
  • Wednesday, 17 March 2021

    IFC, Alexbank to finance solar irrigation systems for Egyptian farmers

    Egyptian farmers could collectively save up to EGP 14 bn in fuel costs by using solar-powered irrigation systems, which the International Finance Corporation (IFC) will help finance by on-lending through Alexbank, the international lender said in a statement. The statement...
  • Wednesday, 10 March 2021

    NBE pushing into non-bank financial services

    Al Ahly Capital has wrapped up its acquisition of a 75% stake in e-payments player Momken, National Bank of Egypt Chairman Hisham Okasha said at a press release (pdf). (NBE is parent company of Al Ahly.) The acquisition brings Momken...

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