Arab Finance: The final week of June 2026 saw a series of key developments across Egypt's economy, with the Ministry of Electricity and Renewable Energy reaffirming that no electricity load shedding is planned this summer.
Below is a roundup of the week's top 10 business and economic headlines:
1-Egypt says no summer power cuts, denies household tariff increase
Mansour Abdel Ghany, the official spokesperson for the Ministry of Electricity and Renewable Energy, confirmed no electricity load shedding this summer and denied rumors of higher household electricity tariffs taking effect on July 1st.
2-Egypt imposes 10% export duty on nitrogen fertilizer
Minister of Investment and Foreign Trade Mohamed Farid has issued decree no. 258 of 2026, imposing a 10% duty on free-on-board (FOB) nitrogen fertilizer exports.
3-Goldman Sachs estimates Egyptian pound’s fair value at EGP 43/USD
Goldman Sachs has estimated the fair value of the Egyptian pound at around EGP 43 per US dollar, expecting it to continue strengthening to EGP 46 per USD over the next 12 months, according to the bank’s latest report.
4-IMF reaches staff-level agreement with Egypt on 7th EFF review
The International Monetary Fund (IMF) and Egypt reached a staff-level agreement on the seventh review of the Extended Fund Facility (EFF) and the second review under the Resilience and Sustainability Facility (RSF).
5-Egypt issues $500M sustainability samurai bonds backed by AfDB
Egypt has successfully issued JPY 80 billion ($500 million) in sustainability samurai bonds, backed by a partial credit guarantee (PCG) from the African Development Bank (AfDB) Group.
6-MSMEDA injects EGP 79.6B financing since launch in 1991
The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has injected EGP 79.6 billion in financing into more than 4 million diverse projects since its establishment in 1991, creating 6.8 million jobs.
7-EGX sees temporary listings of 4 state-owned firms under state IPO program
Egypt has temporarily listed four state-owned companies on the Egyptian Exchange (EGX), including three from the petroleum sector, as part of the state's initial public offering (IPO) program aimed at broadening private-sector participation.
8-Korra Energi wins EGP 470.7M GennVax Egypt contract in SCZONE
Korra Energi has secured a contract to execute civil, architectural, and electromechanical works for GennVax Egypt, a vaccine manufacturing plant at the General Authority for the Suez Canal Economic Zone (SCZONE) in Ain Sokhna.
9-Sustainable Capital Africa Alpha Fund cuts stake in Orascom Construction
Sustainable Capital Africa Alpha Fund has reduced its stake in Orascom Construction PLC after selling 51,000 shares in a transaction valued at approximately EGP 40.39 million.
10-Elsewedy Electric expands power generation portfolio with new generator range in Egypt
Elsewedy Electric has expanded its power generation portfolio with the launch of a new range of generators in the Egyptian market, targeting the needs of industrial, commercial, and infrastructure projects across the country.
