• Wednesday, 26 May 2021

    Third tranche of JPMorgan railway loan coming soon + NBE seeks USD 1 bn syndicated loan for debt refinance

    Egypt could get the third USD 335 mn tranche of a JPMorgan loan to finance the construction of two monorail lines within four months, according to a report in Al Mal’s print edition this morning that cites unnamed sources. The...
  • Thursday, 20 May 2021

    NBE partners with UAE’s LuLu on remittance transfer service

    Remittance transfers from the UAE to Egypt through the National Bank of Egypt (NBE) are set to become more reliable and potentially cost less under a new partnership with UAE-based financial services company LuLu International Exchange, according to a statement...
  • 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...
  • Thursday, 22 April 2021

    Evergrow is restructuring its debts

    Egyptian fertilizer company Evergrow has signed a USD 400 mn loan agreement with a syndicate of 12 banks led by Mashreq Bank and the National Bank of Egypt (NBE), who acted as the facility arrangers, Hapi Journal reports, citing a...
  • 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...
  • Wednesday, 24 March 2021

    Easy KYC for micro businesses, freelancers gets a shot in the arm

    SMART POLICY- Unbanked micro-businesses, freelancers, and craftsmen will be able to open accounts at the National Bank of Egypt come April with zero admin charges and minimal paperwork, Hala Wagih Helmy, the bank’s head of products and financial inclusion, told...
  • 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...
  • Tuesday, 16 March 2021

    State banks eye stakes in new futures exchange ahead of potential listing

    The National Bank of Egypt, Banque Misr, Banque du Caire, and United Bank are reportedly interested in a piece of the new futures exchange, according to a letter from the Federation of Egyptian Banks received by the Financial Regulatory Authority...
  • Thursday, 25 February 2021

    National Bank of Egypt scraps e-commerce fees for SMEs

    MSMEs are getting a moratorium on all fees to process e-commerce payments from the National Bank of Egypt through the end of June 2021, the bank said in a statement (pdf) yesterday. The bank is scrapping all activation, monthly, and...

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