Egypt and Kuwait sign grant agreement for Egypt-Sudan rail link
The proposed rail link would potentially bolster trade and foster economic development.
The move comes as a continuation of ongoing investments made by Gulf states in the Egyptian economy as it suffers from the impact of the Ukraine war.
n a move signaling an improvement in the relationship between the two countries, Qatar will invest USD 5 billion in Egypt, according to government sources.
Foreign investment hits all time high as Egypt’s startups raise USD 491 million
of USD 491 million, according to Magnitt’s 2021 Egypt Venture Capital Report.
The GEC will run for four days and will host 150 speakers.
Egypt’s FlapKap, a Egyptian fintech startup, has recently completed a USD 1.2 million fundraising round led by A15, a MENA venture capital firm known for backing early-stage startups across the region.
PayU, a unit of South African multinational holding company, Nasper’s Ltd., and Egypt’s largest bank, National Bank of Egypt, have invested in Egyptian fintech firm Lucky. The funds will be used to allow Lucky to expand into the Middle East.
Egypt continues to see increasing VC investment, hit USD 2.6 billion in 2021
Egypt’s startup environment continues to attract regional and international investments.
Egypt is a major trading partner for the UAE, and represents a gateway to Africa, according to the UAE’s Ambassador to Cairo.
Egypt’s construction and project sector continues to grow and includes major infrastructure projects.