Egypt has signed a landmark $35 billion natural gas supply agreement with Israel’s NewMed Energy, securing 130 billion cubic meters (bcm) of gas through 2040 in a bid to strengthen its role as the Eastern Mediterranean’s leading energy hub, the company announced on August 7. Phased output boost The deal, finalized with Egyptian buyer Blue Ocean Energy, will support the planned expansion of Israel’s Leviathan gas field and guarantee long-term supply stability. In the first phase, daily deliveries will increase from 450 million standard cubic feet (MMSCF)—about 4.7 bcm annually—to 650 MMSCF (6.7 bcm) once Israel Natural Gas Lines completes…
Author: Rana Salem
The Egyptian pound is significantly undervalued against the US dollar, according to the latest figures from The Economist’s Big Mac Index. The informal gauge—widely recognized for illustrating currency misalignment—shows that a Big Mac costs EGP 125 in Egypt compared to $6.01 in the U.S. This price difference suggests an implied exchange rate of EGP 20.80 per dollar, far below the current market rate of EGP 48.70, indicating a 57.3% undervaluation of the Egyptian pound. Even when adjusting for income disparities using GDP per capita, the pound remains 29.1% undervalued, underscoring deeper structural issues beyond simple cost-of-living differences. The Big Mac…
Egypt’s agricultural exports have surged to a record 6.24 million tons as of mid-July 2025, marking an increase of 575,000 tons compared to the same period last year, according to an official statement from Alaa Farouk, Minister of Agriculture and Land Reclamation. This sharp growth underscores Egypt’s growing stature as a major player in the global agri-export market. Citrus leads export growth Data from the Egyptian Plant Quarantine Authority highlights citrus fruits as the top export category, exceeding 1.9 million tons. Potatoes followed with 1.3 million tons, while fresh onions accounted for 231,894 tons. Other notable contributors include grapes (159,477…
Egyptian Prime Minister Mostafa Madbouly announced that the first unit of the El-Dabaa Nuclear Power Plant is expected to be operational by the second half of 2028, according to a televised statement made in July. With a planned total capacity of 4,800 megawatts and over 80% of the workforce being Egyptian, the plant is positioned to transform the nation’s energy sector and fulfill a decades-old national aspiration. Operational by 2028 “El-Dabaa represents the realization of a long-awaited national dream,” Madbouly said, underscoring the project as a reflection of Egypt’s commitment to developing advanced, safe, and sustainable energy sources. During an…
Egypt has launched a new digital tourism campaign targeting Arab markets, part of a broader effort to position itself as a leading regional tourism destination. The campaign, launched in partnership with WEGO—one of the Middle East’s top travel booking platforms—is spearheaded by the Egyptian Tourism Authority (ETA) and will run until June 2026, according to a statement by the Ministry of Tourism and Antiquities. The initiative, part of the international “Egypt… A Unique Blend” campaign, aims to generate over 500,000 bookings and attract more than one million visitors by leveraging peak travel periods such as holidays and festivals. According to…
Once a symbol of marketing dominance, Egypt’s billboards and glossy TV ads are no longer enough to capture consumer attention or trust. As consumer behavior shifts, particularly among younger demographics, Egyptian brands across sectors—from fintech and retail to food and fashion—are turning to influencers and user-generated content (UGC) to connect more authentically with audiences. This strategic pivot is driven by the declining effectiveness of traditional, polished advertising and a growing appetite for relatable, people-first content. Platforms like TikTok, Instagram, and YouTube are where Egyptians are spending time, engaging with creators who speak their language and reflect their lifestyles. Influencer partnerships…
National Printing S.A.E., a leading player in Egypt’s printing and packaging industry, has announced plans to proceed with an initial public offering (IPO) on the Egyptian Exchange (EGX). The offering will involve up to 21,171,040 ordinary shares, representing 10% of the company’s issued share capital. The shares will be divided equally between a Private Tranche and a Public Tranche, according to a statement issued by the company. The Private Tranche will allocate 10,585,520 shares to Saudi cornerstone investor Omran Mohammed AlOmran, a prominent entrepreneur. The remaining shares will be made available to public investors, with the subscription period expected to…
Tourist arrivals to Egypt rose by 24% in the first half of 2025, reaching 8.7 million visitors, driven by a rebound in travel demand and easing geopolitical tensions, according to Minister of Tourism and Antiquities Sherif Fathy, local media reported. In the first quarter alone, Egypt welcomed 3.9 million tourists—a 25% increase compared to the same period in 2024. The growth follows a record year in 2024, when the country received 15.8 million tourists, marking a 6% rise from 2023 and surpassing pre-pandemic levels by over 21%, according to UN World Tourism Organization data. Aligning growth with strategic reform These…
As Egypt navigates a period of economic recalibration, questions loom large over its reform trajectory, investment climate, and capacity to harness its demographic dividend. Inflationary shocks, external vulnerabilities, and uneven growth have tested the country’s resilience, but they have also underscored the urgency of deep structural transformation. In this exclusive conversation with Business Monthly, Dr. Mahmoud Mohieldin—UN Special Envoy on Financing Sustainable Development, former Minister of Investment, and a seasoned economist—offers a candid assessment of Egypt’s economic landscape. Drawing on his policy experience and international development work, Dr. Mohieldin outlines a reform blueprint rooted in macroeconomic discipline, export-led private-sector growth,…
In a pivotal moment for Egypt’s role in global economic discussions, Prime Minister Mostafa Madbouly, representing President Abdel Fattah El-Sisi, addressed the 2025 BRICS Summit in Rio de Janeiro, calling for significant reforms in the global financial system. The summit, held at a time of heightened geopolitical tensions and economic uncertainty, witnessed Egypt positioning itself as a vocal advocate for more equitable development and deeper cooperation among emerging economies. In his speech, Madbouly stated, “The convening of this BRICS Summit comes at a critical time, as we face multiple and interconnected crises and challenges, including geopolitical tensions, threats to peace…