Browsing: Egypt
The Saudi Arabia-based International Islamic Trade Finance Corporation (IFTC) has raised Egypt’s credit rating to USD 6 billion to address rising costs of wheat.
Real estate service provider Jones Lang LaSalle’s (JLL) latest reports have indicated that construction in the Middle East and Africa (MEA) region continues to grow despite increasing price pressure.
Online used-car retailer Sylndr has announced the raising or USD 12.6 million in a pre-seed round led by RAED Ventures, with participation from Algebra Ventures, Global Founders Capital, 1984 Ventures and Nuwa Capital along with a series of regional angel investors.
Egypt’s Minister of Petroleum and Mineral Resources, Tarek El-Molla, recently announced that the country expects to see investments of between USD 7 billion and USD 8 billion in the country’s energy sector in the current fiscal year.
Ayman Al-Bayaa, CEO of Benya Group and Chairperson of Bunya Systems, said that the Saudi market offers an array of investment opportunities including data centers, smart city solutions and information security.
Startups from across the MENA region raised USD 297 million through 29 deals in April of this year.
In an effort to further renewable energy development SCzone, Egypt’s sovereign wealth fund, has signed a deal to implement the production of 300,000 tons of green ammonia.
Cashew aims to grow into the rapidly expanding ‘buy now, pay later’ (BNPL) sector, with Egypt as a top potential market.
AD Ports Group has signed an agreement with the Egyptian Group for Multipurpose Terminals to develop Egyptian ports.
n a move that highlights international confidence in Egypt’s ongoing recovery from its currency crisis, the impact of Covid-19 and the difficulties caused by the Ukraine conflict, international rating agency Fitch has assigned the Egyptian economy a rating of B+.