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Subscription to Suez Canal Bank’s investment fund reaches EGP 338.7m
The oversubscribed offering raised about EGP 338.7m, representing 136% of the targeted capital of EGP 250m, so the allocation of shares will be made according to each subscriber’s contribution.
Egypt considers new fund supporting tourism workers in times of crisis
The ministry said the lack of information prevents many workers from getting their full rights, whilst also preventing financial support from arriving to those who deserve it, especially during crises.
Egypt signs agreement with ITFC to fund commodities imports worth $1.1bn in 2020
The funds are within the $3bn agreement framework between Egypt and ITFC that was signed in January 2018.
Tahya Misr Fund provides EGP 306m for financing 18,000 micro projects
Rural women have acquired the lion’s share of Mastourah financing programme, says fund’s acting executive director
Tahya Misr aims to find radical solutions to problems of underprivileged segments: Deputy Director of Projects
Manshiet El Nuba at Toud district declared as Virus-C free
Attijariwafa Bank-Egypt aims to attract 70 new credit customers with funds exceeding EGP 3bn end 2019
Africa and Development Club gateway for Egyptian exporters to penetrate African markets
Chinese Exim Bank likely to fund Egypt with $3bn
Chinese embassy defending electric train project following Fitch’s criticism
Global Lease negotiates with four banks to fund new projects worth EGP 500m
Discussions with FMO to borrow $10m, a factoring company to be launched mid-March
When will agricultural sector receive appropriate share of funds from banks?
Government received 28.105% of loans, industry 24.627%, services 25.957%, retail 17.286%, trade 7.627%
EU-funded EEPI offers €950,000 grant to develop 100 companies in Egypt
Project aims to identify export opportunities for Egyptian products
MSMEDA injects EGP 5.3bn to fund 247,000 projects in 2018
EGP 5.3bn were allocated to fund 247,000 small, micro projects, providing 395,000 jobs
Fund project growth to reach 6%, unemployment rate, inflation to fall to 7%: IMF’s senior resident representative to Egypt
Strong private sector essential for job creation, this requires improving business environment, governance, transparency, access to finance, accountability of public institutions
250m Egyptian sports fund launched by Banque Misr
The Fund will be managed by Misr Beltone
NI Capital, Ayady, Post for Investments launch EGP 50m micro-finance fund
NI Capital, the investment arm of the National Investment Bank, Ayady for Investment and Development, and Post for Investments have joined forces to establish Tamweely for Microfinance with an issued capital of EGP 50m and an authorised capital of EGP 500m, according to a press release on Tuesday. According to the statement, Tamweely for Microfinance …
The government aims at borrowing EGP 371bn to fund budget deficit during Q1 of new FY
Ministry of Finance offers T-bills worth EGP 349.5bn and bonds worth EGP 21.5bn from July until the end of September 2017
Egypt, UNDP to establish new investment fund for development
The fund will be jointly financed by Misr Company for Entrepreneurship and the UNDP
22 MPs demand fact-finding committee to study efficiency of investment of pensions’ funds
Large amounts of pensions are held by the government without it paying returns on them for the past ten years
Expectations differ about expected real estate fund investments
Saudi Arabia launches three real estate funds in six months, while Egypt launches its third fund in Q3
Innoventures launches EGP 30m investment fund within next weeks
Innoventures aims to increase the fund’s capital to EGP 100-200m
Investment funds achieve moderate performance in 2016
Pound’s flotation failed to support money market funds and fixed income funds in the last two months of 2016
Parliament approves 4 agreements worth $3.5bn for international cooperation with Germany, Korea, Japan, Kuwaiti Fund for Development
Germany and Korea to finance construction of 5 water desalination plants in South Sinai and Borg El-Arab airport expansion
Acumen-Beltone to promote subscription to HDB fund in Q1of 2017
The company is planning to promote the fund among investors from Gulf countries, besides local investors to ensure its shares will be sold
Press Syndicate reveals individuals accused of corruption
The head of the syndicate’s finance department is accused of embezzling EGP 260,000
Tahya Misr to reveal results of its work, future plans in September
We seek to establish strong companies with all institutions, in order to support the fund’s contribution to achieving sustainable development, says executive director
EU-funded project could save 20m tonnes of oil equivalent by 2035
EU holds workshop with Egyptian ministries to implement TARES project
Flat6Labs funds 46 projects worth $10m in Egypt, UAE, and Saudi Arabia over five years: managing director
Flat6Labs is a regional programme established in 2011 by Sawari Ventures and the American University in Cairo (AUC) School of Business Administration to turn technology ideas into real projects.
Criminal case opened against Switzerland’s BSI bank over Malaysian fund
Switzerland has opened criminal proceedings against the BSI bank, linked to the ongoing case involving Malaysia’s troubled state investment fund. Singapore’s central bank has also shut down BSI’s operations.
CBE confirms banks’ commitment to its instructions for financing small, very small projects
The Central Bank of Egypt (CBE) affirmed that the banks operating in the Egyptian market are committed to its instructions for financing small and very small projects. Some media reports claimed that some people in business had received the funds allocated to the small projects according to the CBE’s initiative launched in January, the CBE …
Third phase of Tahya Misr City begins with investments of EGP 700m: executive manager
Tahya Misr Fund is working on developing 127 new homes at a cost of EGP 36m, says Ashmawy
King Salman reveals establishment of Saudi-Egyptian investment fund worth SAR 60bn
Saudi King Salman explained that the Saudi share in the investment fund is the equivalent of 50%, amounting to SAR 30bn, while the Egyptian side will provide the remaining 50% of the fund’s capital, to be paid in Egyptian pounds