Panorama of 2022: The year of Gulf acquisitions in Egypt
The year 2022 witnessed a significant increase in Saudi and Emirati influence in the Egyptian economy, as the severe economic crisis suffocating the country allowed Gulf wealth funds to acquire government-owned stakes in some of the most potent companies listed…
Selling state assets: Sisi approves state State Ownership Policy Document
On Thursday, President Abdel Fattah El-Sisi approved the State Ownership Policy Document, the Egyptian State Assets Sale Document. The document outlines the government’s plan to exit major projects and allow the private sector to increase its investments to 65% within…
Debt-addiction: Sisi approves 95 million euros loan from French Development Agency
On Wednesday, Egyptian President Abdel Fattah El-Sisi approved a loan from the French Development Agency of 95 million euros to develop the Tanta-Mansoura-Damietta railway. Sisi approved a 221 million euros loan from the European Investment Bank on December 22 to…
Egyptian banks reduce dollar credit limits for their clients abroad
Egyptian banks, including the National Bank of Egypt, Banque Misr, Commercial International Bank and Emirates NBD, have reduced dollar cash withdrawals for their clients outside Egypt. The National Bank of Egypt reduced monthly cash withdrawals for its clients outside Egypt…
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