As prices rise, consumers increasingly seek different payment solutions to help manage their household budgets. Potential solutions include consumer financing that allows customers to buy now and pay later (BNPL) or make payments in installments. Said Zater, chairman of the Egyptian Federation of Consumer Finance and CEO of non-bank services provider Contact Financial Holding, told the Daily News Egypt in February that consumer finance companies “have enhanced individuals’ purchasing power, stimulated local markets and driven production growth by providing flexible credit solutions and diverse financing options amid economic challenges.” According to a February 2024 report by Tamara, a fintech platform…
Author: Fatema Fouad
The third session of the American Chamber of Commerce (AmCham Egypt) Investment Conference, titled “Building Destinations as Catalysts for Economic Growth”, explored the growing potential of Egypt’s real estate and tourism sectors, with a focus on major government-led projects, private sector involvement, and regional collaboration. Key figures from both the public and private sectors shared their insights on how strategic investments in new cities like Ras El Hekma can reshape the country’s economic landscape. A $35B opportunity The session kicked off with a focus on the groundbreaking Ras El Hekma project, launched by the Egyptian government last year. With a $35…
Egypt’s annual unemployment rate fell to 6.6% in 2024, marking a 0.4% decline from the previous year, according to data released Saturday by the Central Agency for Public Mobilization and Statistics (CAPMAS). The drop reflects improvements in both urban and rural employment, alongside job creation in vital sectors such as agriculture, retail, and construction. The CAPMAS report, based on its annual labor force survey, revealed that youth unemployment (ages 15–29) declined to 14.9% in 2024, down from 15.9% in 2023. However, the gender gap remains pronounced, with male youth unemployment at 9.8% compared to a significantly higher 37.1% among females.…
The European Parliament approved on April 1 a €4 billion (EGP 228.4 billion) second tranche of a larger €7.4 billion macro-financial assistance (MFA) package for Egypt. EU support to Egypt The vote passed with broad support, garnering 452 members in favour, 182 against, and 40 abstentions, according to a statement by the European Parliament. The latest approval follows the disbursement of an initial €1 billion tranche received in January 2025 under the same MFA package. The €5 billion MFA package—proposed by the European Commission — is part of the €7.4 billion agreement signed on March 17, 2024, between Egypt and…
Egypt’s cabinet has approved a $91 billion (EGP4.6 trillion) budget for the 2025/26 financial year, set to begin in July, as the country continues efforts to stabilize its finances under an International Monetary Fund (IMF) program. Budget’s target The country planned the 18% increase in spending partly to assist vulnerable groups as it recovers from a major economic crisis. It is also partly driven by high inflation, which stood at 12.8% in February. Egypt’s 2025/26 budget also projects revenues rising 19% to EGP 3.1 trillion, aiming for a primary surplus of EGP 795 billion, representing 4% of gross domestic product…
Digital innovations through advanced technologies like artificial intelligence (AI) and robotics are significantly enhancing patient care and optimizing efficiency. As Mark Adams, CEO of Clemenceau Medical Center in Dubai, noted in February: “AI is becoming an integral part of operational transformations that will drastically redesign the healthcare landscape.” He said AI can be utilized in patient management, X-ray analysis, and diagnosis, adding, ‘There’s almost no area of healthcare that’s not being disrupted by AI.” According to McKinsey research, generative AI (GenAI) has the power to “unlock a piece of the unrealized $1 trillion of improvement potential present in the [healthcare]…
As we enter a new era of massive shifts in consumption patterns, technology will add further complexity to the evolving brand marketing landscape. “In 2025, brand marketing is evolving at lightning speed, driven by changes in technology, consumer habits, and market trends,” according to HT Media Group, an Indian media company, in December. Therefore, “staying ahead of these trends is essential to create impactful strategies that drive engagement and results,” wrote Deepak Bansal, director of digital marketing at Atihsi LLC, a digital marketing company, in Forbes in November. Excelling in marketing in 2025 “will require a balance between leveraging cutting-edge…
Dubai-based renewable energy company AMEA Power has signed Capacity Purchase Agreements (CPAs) to develop Egypt’s first standalone battery energy storage systems (BESS), marking a significant milestone in the country’s clean energy transition, a company statement showed on February 25. The agreements cover two major projects: a 500MWh BESS in Zafarana and a 1,000MWh BESS in Benban. These projects are expected to enhance grid stability and facilitate the integration of renewable energy sources into Egypt’s national energy grid. Hussain Al Nowais, Chairman of AMEA Power, emphasized that the deployment of advanced battery storage solutions will not only strengthen Egypt’s energy infrastructure…
The Trump administration’s push to restructure the United States Agency for International Development (USAID) is sending ripples through Egypt’s higher education sector, disrupting scholarship programs and potentially cutting billions in critical funding. As the U.S. shifts its foreign aid priorities, students, universities, and the broader economy face mounting uncertainty. A legacy for strategic investments For decades, USAID has played a vital role in supporting Egypt’s development, investing more than $30 billion in economic assistance since 1978, according to the U.S. Embassy in Egypt. A significant portion of this aid has been allocated to education, infrastructure, economic development, and healthcare—sectors that…
Concentrix, a global technology and services leader, has inked a memorandum of understanding (MoU) with the Information Technology Industry Development Agency (ITIDA) to invest around $1 billion in Egypt, according to a cabinet statement on January 28. Agreement details Under the agreement, Concentrix plans to expand its operations in Egypt, creating 16,000 new job opportunities. This will bring the company’s total workforce to 35,000 by the end of 2028, up from the current 19,000. Prime Minister Mostafa Madbouly highlighted the significant potential of outsourcing in Egypt, noting that “Concentrix’s interest in expanding its business here reflects the country’s prominent position…