Arab Finance: The second week of May brought a series of developments that continued to shape Egypt’s economic landscape, most notably the decision by EgyptERA to increase electricity prices for several economic and service sectors.
Here is a roundup of the week’s key economic developments:
1-Egypt hikes electricity tariffs for service sectors, Metro operations
The Egyptian Electric Utility and Consumer Protection Regulatory Agency (EgyptERA) increased electricity prices for several economic and service sectors, including underground operations (Metro), agriculture and irrigation activities, and water companies.
2-World Bank greenlights $1B financing to bolster Egypt’s private sector, greener economy
The World Bank Group approved a $1 billion financing, including a $200 million credit guarantee from the UK, to boost Egypt’s private sector.
3-Interbank transactions via RTGS hit EGP 105.2T in 4 months: CBE
The value of interbank payments executed in EGP through the Real-Time Gross Settlement (RTGS) system reached EGP 105.239 trillion during the first four months of 2026, through approximately 1.002 million transactions.
4-Egypt, ITFC sign $1.5B annual program for 2026 to bolster food, energy security
Egypt and the International Islamic Trade Finance Corporation (ITFC) signed the Annual Work Program for 2026 at a value of a $1.5 billion, extending their successful development partnership.
5-Egypt’s tourism revenues hit record $16.7B in FY2024/25
Egypt’s tourism revenues hit a record high at $16.7 billion during fiscal year (FY) 2024/2025, recording a growth rate of 56.1%, the highest in almost 10 years.
6-Madbouly inaugurates factory of V7 owner's Vitality in Sadat City
Prime Minister Mostafa Madbouly has inaugurated the newest factory of Vitality, the owner of V7 and V Cola brands, in Sadat City
7-Egypt to roll out digital visa-on-arrival system at Cairo International Airport by August
Prime Minister Mostafa Madbouly witnessed the signing ceremony of two agreements for the management and operation of the newly developed digital system for obtaining visas upon arrival at Cairo International Airport.
8-IOCs pledge $19B investments in Egypt’s petroleum sector over 3 years: Madbouly
International oil companies (IOCs) are committed to pumping investments exceeding $19 billion into Egypt’s petroleum sector under three-year executive programs announced by these firm.
9-Korra eyes IPO on EGX, regional expansion
Korra Energi is getting ready for its initial public offering (IPO) on the Egyptian Exchange (EGX), in line with its growth strategy to become a global player.
10-Nassef Sawiris-backed NNS Group reorganizes Orascom Construction share structure
NNS City (Cyprus) Ltd acquired 33.8 million shares in Orascom Construction PLC from NNS Holding (Cyprus) Limited as part of an internal reorganization within the NNS Group.
