Nawy, a leading Egyptian proptech company, has raised $52 million in Series A equity funding to accelerate its operations and enhance its technological capabilities. The round was led by Partech, with additional participation from e& Capital, March Capital Investments, Verod-Kepple Africa Ventures, VentureSouq, Endeavor Catalyst, Development Partners International via the Nclude Fund, Shorooq Partners, Outliers, HOF Capital, and Plug and Play. Support for mortgage growth, AI integration In addition to the equity funding, Nawy secured $23 million in debt financing from prominent Egyptian banks to bolster its rapidly growing mortgage offerings. According to Mostafa El-Beltagy, Nawy’s Co-Founder and CEO, “This…
Author: Rana Salem
At RiseUp Summit 2025, Egypt unveiled a significant policy change aimed at boosting its startup ecosystem. Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), announced that, for the first time, service-oriented startups with an export focus will be permitted to set up headquarters within the country’s free zones. New policy Heiba stated that 9,000 square meters have been designated for administrative and operational headquarters for export-oriented startups. The authority is prioritizing investment from firms specializing in software exports and artificial intelligence, while also encouraging the presence of key support services such as consulting, marketing, and…
Egypt’s remittance inflows surged 72.4% year-on-year to $32.6 billion between March 2024 and February 2025, according to the Central Bank of Egypt. This sharp rise from $18.9 billion the previous year highlights the growing importance of remittances as a vital source of foreign currency for Egypt. February 2025 marked the twelfth consecutive month of rising remittance inflows. That month alone saw inflows more than double to $3 billion, up from $1.3 billion in February 2024, a new record for remittances in any February on record. The upward momentum continued from earlier months. In January 2025, remittances rose 83.2% year-on-year. Over…
Last month, Egypt’s Parliament approved the Unified National Property ID Law, a key step toward modernizing the country’s real estate sector. The law introduces a digital system that assigns a unique identification number to each property, creating a centralized database aimed at improving transparency and regulatory oversight. This is seen as a critical step toward reducing the country’s high rate of unregistered properties and improving the efficiency of property transactions. The Central Agency for Public Mobilization and Statistics (CAPMAS), in coordination with the Ministry of Communications and other government bodies, will oversee the creation and operation of this database, which…
In an address during the closing session of the American Chamber of Commerce in Egypt (AmCham Egypt) Investment Conference on April 29, Minister of Investment and Foreign Trade Hassan El Khatib outlined Egypt’s forward-looking economic reform strategy. His remarks offered a comprehensive look at the government’s evolving policy priorities amid shifting global economic conditions. Navigating a changing global landscape As global geopolitical dynamics become increasingly fragmented, Egypt is recalibrating its economic path. “The protectionism trend is taking place in Europe, across the world. Nationalism is rising, and the terminology that we’re using as economists is also changing,” El Khatib observed.…
At the second session of the American Chamber of Commerce in Egypt (AmCham) Investment Conference on April 29, titled “Egypt as a Regional Energy Hub: Unlocking the Potential of Renewables,” policymakers and energy experts gathered to discuss Egypt’s strategic drive to become a leading clean energy exporter in the Middle East and North Africa (MENA) region. The session highlighted Egypt’s plans to leverage its abundant solar and wind resources to meet growing domestic demand and export electricity to neighboring countries and Europe. “We are working to export energy to neighboring and European countries, mainly from renewable sources,” said Sabah Meshali,…
At the American Chamber of Commerce in Egypt (AmCham Egypt) Investment Conference on April 29, a session titled “Advancing Healthcare: Policy Reforms and Investment Strategies” brought together industry leaders and policymakers to examine Egypt’s evolving healthcare landscape. The discussion focused on the sector’s transformation, driven by demographic changes, policy reforms, and increasing investor interest. Bottlenecks in the system Magdi Bakr, Senior Chairman Advisor for Technical Affairs at the Egypt Healthcare Authority, opened the session by highlighting the dual role of health as both a public service and an economic catalyst. “Health is an investment and is actually a driver for…
The International Monetary Fund (IMF) has lowered its global real gross domestic product (GDP) growth forecast to 2.8% for 2025 and 3% for 2026 in its April World Economic Outlook (WEO), a sharp downgrade from the January projections of 3.3% for both years. The move reflects growing global volatility, escalating trade tensions, and a sharp pivot in international economic policy frameworks. The report attributes the downward revision to newly devised tariff rates and what it calls a “highly unpredictable” policy environment that is reshaping trade flows and investor sentiment worldwide. Global economy at a critical juncture “Intensifying downside risks dominate…
As global trade undergoes a dramatic transformation, Egypt finds itself at a pivotal moment—facing both fresh challenges and unexpected opportunities. With the U.S. imposing steep tariffs on Chinese goods, questions are emerging about whether countries like Egypt can step in to fill the gap. In this candid and timely conversation, we speak with Ayman Ismail, Associate Professor and Abdul Latif Jameel Endowed Chair of Entrepreneurship at AUC, and Founding Director of the AUC Venture Lab. He shares his perspective on how Egypt can position itself in this shifting landscape, the hurdles that need to be addressed, and the sectors where…
Egypt’s Ministry of Petroleum and Mineral Resources announced a fuel price increase on April 11, with rates rising between 11.8% and 14.8% across various categories. Diesel and kerosene saw the sharpest hikes, jumping from $0.26 (EGP 13.5) to EGP 15.5 per liter, marking the highest increase among all fuel types. Other fuel products also experienced price adjustments, with 80-Octane petrol rising from EGP 14.50 to EGP 15.75, while 92-Octane petrol increased from EGP 15.25 to EGP 17.25. The smallest price jump was seen in 95-Octane petrol, which moved from EGP 17 to EGP 19 per liter. Mazut, a critical fuel…