Arab Finance: The fourth week of June celebrated major achievements in the Egyptian economic landscape, with key players, including Korra Energi, Scatec, and Valmore Holding, announcing projects in the energy sector.
1-El-Sisi orders 15% pension raise effective July 1st
Egyptian President Abdel Fattah El-Sisi has issued a presidential decree increasing pensions by 15%, effective July 1st, 2026, as part of efforts to support pensioners and improve their living standards.
2- Cabinet extends Sunday remote work throughout July 2026
The Egyptian Cabinet, headed by Prime Minister Mostafa Madbouly, approved extending the remote work system on Sundays throughout July 2026.
3-Egypt’s economy grows 5% in Q3 FY2025/26: Rostom
Egypt's economy recorded a growth rate of 5% during the third quarter (Q3) of fiscal year (FY) 2025/2026, up from 4.8% in the corresponding quarter of the previous FY, according to a presentation by Minister of Planning and Economic Development Ahmed Rostom during a Cabinet meeting chaired by Prime Minister Mostafa Madbouly.
4-MSMEDA, EGX ink cooperation protocol to expand MSMEs' access to financing tools
The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has signed a cooperation protocol with the Egyptian Exchange (EGX) to expand the base of companies benefiting from financing instruments and markets, as part of efforts to support micro, small, and medium-sized enterprises' (MSMEs) growth and contribution to the national economy.
5-CBE's assets rise to EGP 6.82T in May 2026
The Central Bank of Egypt's (CBE) total assets increased to approximately EGP 6.821 trillion at the end of May 2026, up from EGP 6.742 trillion at the end of April, reflecting a monthly increase of around EGP 79 billion, according to the CBE's latest financial position statement.
6- Samsung Electronics probes local manufacturing expansion in Egypt
Minister of Industry Khaled Hashem met with a delegation from Samsung Electronics led by Chairman Won Kim to discuss the company’s current projects, future expansion plans, and efforts to deepen local manufacturing in Egypt, the Egyptian ministry stated on June 23rd.
7-Korra Energi backs Gulf of Suez transmission project via KFH’s credit facility
Korra Energi obtained a total credit facility from Kuwait Finance House (KFH) amounting to EGP 300 million and $15.56 million for its 500-kV power transmission line linking the Gulf of Suez.
8-Norway's Scatec plans up to $5B investments in Egypt over next 2 years
Norwegian renewable energy company Scatec plans to invest up to $5 billion in Egypt over the next two years across strategic sectors, including renewable energy, energy storage, water desalination, green data centers, and infrastructure supporting the green transition.
9-Valmore Holding’s KAHRABA receives regulatory nod for 2 electricity substation projects
The National Electricity Technology Company (KAHRABA), a subsidiary of Valmore Holding, has obtained approval from the Supreme Committee for Public-Private Partnership Affairs, chaired by Prime Minister Mostafa Madbouly, to implement two new electricity substation projects.
10-Korra Energi delivers strong financial performance in Q1 2026
Korra Energi has delivered a strong financial performance in the first quarter (Q1) of 2026, reflecting its operational efficiency and its ability to achieve sustainable added value. This growth was driven by key improvements in profitability and cost management indicators, despite ongoing regional and global economic and geopolitical challenges.
