Egypt signed a five-year USD1 billion funding agreement with South Korea

Egypt signed two agreements with the Canadian Transglobe and Pharos Energy companies, worth USD506 million for oil exploration 

Egypt is considering the issuance of sustainable development bonds to finance Hayah Karima initiative

CBE will meet today with local banks’ leaders to discuss the requirements for supporting manufacturers and mitigate the negative effects of COVID-19 and the global inflation wave

FWRY plans to raise EGP800 mn in capital (at par value) through a rights issue to existing shareholders; BoD also approved the creation of an American Depositary Shares “ADS” program and is exploring a listing in the US; FWRY is currently trading at 2022f P/E of 73.7x and EV/EBITDA of 20.4x

Ministry of Communications plans to increase the number of services of the Digital Egypt platform from 103 services to 200 services by the end of 2022; EFIH is the payment gateway of Digital Egypt

GB Auto-owned MNT-Halan has launched a buy-now-pay-later (BNPL) service on its application

SWDY subsidiary signed 2 new turnkey contracts with a value of EGP686 million in Kuwait