Egypt’s first-ever U.S. GreenTech Business Mission saw early results with Minister of Environment Yasmine Fouad inking two agreements with American companies that will ultimately reduce Egypt’s carbon emissions. Waste management and renewable energy company Energy3 International signed on May 15 an MoU with the environment minister to build a recycling facility in Fayoum that will convert municipal and agricultural waste to biodiesel and graphene, averting 500,000 tons of annual CO2 emissions from landfilling solid waste. On the same day, Fouad signed another MoU with environmental safety firm Okeanos to build a $50 million factory that will manufacture plastic alternatives from…
Author: Nour Eltigani
With the onset of the COVID-19 pandemic, Egypt’s adoption of digital banking accelerated as institutions hastened to meet their customers’ new expectations for safe, easy-to-access financial services. Traditional banks began looking for innovative, digital-first solutions to meet these changing needs. According to the Oxford Business Group (OBG) report on the “Egypt Financial Services Covid-19 Recovery Roadmap,” Egypt’s banking system has been a prominent target for economic and digital reforms. The thriving financial services start-up scene has emphasized the need for banks to develop and implement their own digital strategies. An undefined digitization protocol, outdated infrastructure and rivalry with new-age entrepreneurs…