Egypt credit sector

Egypt: Driving financial independence

As the first licensee of consumer finance in Egypt, Contact has played a pivotal role in growing the non-bank credit sector


UAE President Sheikh Mohamad bin Zayed meets Egyptian President

The meeting reviewed the UAE’s upcoming hosting of the COP28 and the need for advancing collective climate action

Fertiglobe, AD Ports to explore supply chain opportunities

Fertiglobe, AD Ports partner to explore supply chain opportunities

The two entities agreed to leverage AD Ports’ cargo handling and storage infrastructure to advance urea and ammonia storage and shipping capabilities

Valu issues EGP922.3m worth of securitised bonds

EFG Holding’s Valu issues EGP922.3m worth of securitised bonds

The transaction marks the financial technology firm’s third issuance this year, and the sixth concluded in partnership with EFG Hermes to date

EFG Hermes advises EMRC on EGP472m securitised bond issuance

EFG Hermes advises EMRC on EGP472m securitised bond issuance

The landmark securitisation programme makes EMRC the first refinance mortgage company to securitise portfolios for mortgage companies in the Egyptian market.

aiBANK partners with Visa to advance digital payments

EFG Holding’s aiBANK, Visa partner to advance digital payments

The partnership seeks to provide customers with a comprehensive range of innovative products and services tailored to modern digital payment preferences

Waldorf Astoria Cairo Heliopolis (Image: Supplied by Hilton)

Waldorf Astoria debuts in Egypt

Waldorf Astoria Cairo Heliopolis is located close to Cairo International airport


BNPL platform Valu announces strategic rebranding

Under the new brand identity, Valu has refreshed its logo, application and overall visual identity to represent the company in a more modern and dynamic way

Agthia Group is fostering UAE’s food security strategy

Exclusive: Alan Smith on Agthia Group’s growth and food security strategy

The group’s CEO explains how they are setting an example for the industry, contributing to UAE’s food security strategy

Al Dhara and ADEX to supply wheat to Egypt in $500m deal image WAM

Al Dahra, ADEX partner to supply wheat to Egypt in $500m deal

Al Dahra currently farms 28,000 hectares in Egypt that help sustain the country’s food security by producing staple crops

Agthia Group posts 6.6% first-half profit rise to Dhs144m

Agthia Group posts 6.6% increase in first-half profit to Dhs144m

The group’s revenues in the six months to June 30 surged by 10.3 per cent year-on-year to Dhs2.2bn

ACWA Power

Saudi’s ACWA Power granted land for 10GW wind project in Egypt

The power plant is expected to provide the Egyptian economy with $6.5bn in savings in annual natural gas costs and create up to 120,000 job opportunities

EFG Holding’s aiBANK launches instant payments via InstaPay

EFG Holding’s aiBANK launches instant payments via InstaPay

The bank said access to InstaPay App will offer its customers a new level of convenience and flexibility in managing their finances


SME story: Interview with Ghady Rayess, managing director of FOO

Financial services embedded into existing business models are no longer optional, but necessary

Here’s how Up-Fuse is turning plastic waste into trendy fashion

Yara Yassin, co-founder of Up-fuse, tells us how the slow fashion brand is wasting no opportunity to transform plastics bags, bottles and tyres into trendy fashion accessories

The Radisson Collection Resort, Marsa Alam Port Phoenice in Egypt (Image: Supplied by Radisson Hotel Group)

Radisson Collection resort announced for Egypt

The new-build property is expected to open in early 2025

Wizz Air Abu Dhabi Cairo

Wizz Air adds 10th aircraft, introduces direct flights between Abu Dhabi and Cairo

The flights will operate on Wednesday and Sunday, starting November 1

Air Arabia Egypt

Air Arabia Egypt resumes direct flights to Yanbu

The direct flights will connect Cairo International Airport with Prince Abdul Mohsin bin Abdulaziz International Airport starting from August 4, 2023

The 300-key voco North Coast is scheduled to open in December 2026 (Image: Supplied by IHG)

IHG confirms voco resort for Egypt

The 300-key voco North Coast is scheduled to open in December 2026

Flynas (Image: Supplied by flynas)

Flynas to commence flights to Egypt’s Sphinx International airport

It will operate thrice-weekly nonstop services from Riyadh and Jeddah

UAE Egypt sign deal to build 10GW_wind farm Image Masdar

UAE, Egypt ink deal to develop Africa’s largest wind farm, project valued at $10bn

The wind farm will help Egypt meet its strategic objective of sourcing 42 per cent of its energy from renewables by 2030

Hyatt Centric Cairo West (Image: Supplied by Hyatt)

Hyatt Centric brand to debut in Egypt

The 283-key Hyatt Centric Cairo West will open in the capital’s Pyramids Heights Business Park

Karim Awad Group CEO EFG Holding

EFG Hermes Holding rebrands as EFG Holding

The change in the brand name will not impact the current management structure and reporting lines, day-to-day operations, or the level of support and cross-selling that will continue between the group’s three verticals

FAB supply chain finance in KSA

UAE’s FAB launches supply chain finance in Saudi Arabia

The programme allows companies to monetise their receivables at competitive rates and get instant payments, without needing to borrow funds

EFG Hermes group CEO Karim Awad Image courtesy EFG Hermes Holding

EFG Hermes reports 157% rise in net profit to EGP885m in Q1 2023

The group recorded a 129 per cent year-on-year rise in revenue to EGP4.5bn in Q1 2023

IHG Hotels and Resorts signs the agreement with Arkan Palm for Real Estate Investment (Image: Supplied by IHG)

IHG confirms two additional properties in Cairo

The InterContinental West Cairo 205 and voco West Cairo 205 Suites will together add 390 keys to the group’s portfolio in Egypt

Telecom Egypt sells shares

Telecom Egypt offers over 162 million shares up for sale

The second offering, dedicated to staffers of Telecom Egypt, started on Sunday and will go on until May 25

Aldar Properties Egyptian investment

Aldar Properties reaffirms its commitment to Egypt

The property firm said its investment in SODIC was one of the largest foreign investments in the Egyptian real estate sector

ACWA Power’s Egypt solar project secures $123m financing

The project already has equity bridge loans of $14m from the EBRD and $45m from the APICORP

Air Cairo (Image: Sourced from Air Cairo website)

Air Cairo to start direct flights to Dubai from Sharm El Sheikh

The twice-weekly flights will operate from Dubai World Central airport every Thursday and Monday