Weekly Recap of Top 10 Trending Headlines
Updated 1/24/2025 9:00:00 AM
Arab Finance: From the introduction of Wi-Fi calling services for the first time in the Egyptian market to the Financial Regulatory Authority's (FRA) announcement of revised minimum capital requirements for local insurance companies.
The latest developments, reported between January 19th and 23rd, showcase key advancements and regulatory changes shaping Egypt's economic landscape.
1-Egypt launches Wi-Fi calling service to boost telecom sector
Egyptian mobile network operators launched the Wi-Fi calling service to foster the state’s telecom market.
2-FRA sets new capital requirements for insurance firms
The board of directors of the Financial Regulatory Authority (FRA) issued Decree No. 196 of 2024, setting the minimum capital for Egypt-based insurance companies, in implementation of the provisions of the Unified Insurance Law issued in July 2024.
3-AfDB approves $170M loan for Egypt’s private sector, green growth
The African Development Bank (AfDB) has greenlit a $170 million loan to support Egypt’s private sector development and economic diversification, with a main focus on green growth.
4-Madbouly, Goldman Sachs Global Institute’s co-head review Egypt’s economic reform program
Prime Minister Mostafa Madbouly discussed Egypt’s economic reform file with Jared Cohen, Co-Head of Goldman Sachs Global Institute.
5-World Bank forecasts Egypt’s GDP at 4.2% in FY2025/26
The World Bank expects Egypt’s real gross domestic product (GDP) growth for fiscal year (FY) 2024/2025 to hit 3.5% and 4.2% in FY2025/26.
6-Bonyan receives approval for listing on EGX as BONY.CA
Bonyan, an independent real estate investment company, has secured approval to be listed on the Egyptian Exchange (EGX) under the ticker symbol "BONY.CA."
7-MSMEDA inks MoU with CIB to provide technical, financial support for MSMEs
The Micro, Small and Medium Enterprises Development Agency (MSMEDA) has signed a memorandum of understanding (MoU) with the Commercial Bank of Egypt (CIB) to provide technical and financial support for micro, medium and small enterprises (MSMEs).
8-Social Impact Capital acquires 37.5% additional stake in CIRA Education
Social Impact Capital Ltd. (SIC) announces its acquisition of an additional 37.5% stake in Cairo for Investment and Real Estate Development (CIRA Education) through a mandatory takeover offer.
9-Cabinet grants 2 golden licenses for Lesaffre, Huhtamaki
The Cabinet granted two golden licenses to two projects in Egypt.
10-Organi Group to launch 1st chlorine granules manufacturing plant in Middle East
Organi Group is planning to launch the first chlorine granules manufacturing facility in the Middle East.
Related News
