Ramadan is not just a sacred time for reflection and prayer; it’s also an opportunity for businesses to connect with employees, clients, and the community in a meaningful way. In Egypt, two prominent event management companies, Event House Egypt and Dazzle Advertising, are leading the charge in creating unforgettable Ramadan experiences. Through their unique approaches, both companies have built solid reputations for organizing standout corporate events during the holy month. Leading the charge Founded in 2012 by Moussa Abu-Taleb, Event House Egypt started as a solo venture born out of Abu-Taleb’s passion for blending Egypt’s rich cultural heritage with high-quality…
Author: Rana Salem
In an exclusive interview with Business Monthly, Pascal Devaux, Senior Economist for MENA & Western Balkans at PNB Paribas, shared his insights on Egypt’s economic outlook. Devaux discussed the country’s ongoing recovery efforts and the key risks to sustaining growth, offering a detailed analysis of Egypt’s economic profile following the bank’s February 2025 report titled “Egypt: The Egyptian economy remains vulnerable despite positive momentum.” Pascal Devaux outlined key risks to Egypt’s economy, including geopolitical tensions, inflation, and vulnerability to external shocks. He highlighted that while the economy is on a path to recovery, the timing of Egypt’s transition to a…
By 2030, Egypt aims to become a major hub for artificial intelligence (AI), with projections indicating that 36% of its population will integrate AI into their daily lives. This ambitious vision is outlined in the second edition of Egypt’s AI strategy report (2025-2030), released on January 16, 2025, marking the beginning of a new technological era for the country. The report, issued by Egypt’s National Council for Artificial Intelligence (AI), forecasts the production of 30,000 AI specialists and the establishment of 250 successful AI companies. Additionally, academic research in the field is expected to surge, with AI-related publications projected to…
In a strategic move to bolster foreign investment and support its real estate sector, the Egyptian government has launched the “Your House in Egypt” initiative, offering approximately 5,000 residential units across multiple new cities to Egyptians living abroad. The initiative, announced by the Egyptian Cabinet on February 23, is spearheaded by the Ministries of Housing and Foreign Affairs, allowing properties to be booked in foreign currencies with flexible payment options. The program responds to growing demand from Egyptian expatriates, following requests made during a conference organized by the Ministries of Foreign Affairs and Immigration in August 2024. Minister of Housing,…
In recent months, Egypt has undertaken a series of tax reforms designed to streamline the tax system and improve compliance for both individuals and businesses, part of efforts to enhance the country’s business climate and support economic growth. On October 9, the Ministry of Finance launched the Tax Facilitation Initiative, a key reform aimed at simplifying tax procedures and alleviating financial burdens, particularly for small and medium-sized enterprises. The initiative seeks to resolve long-standing tax disputes, improve transparency, and encourage voluntary compliance—critical steps toward fostering a more efficient and investor-friendly economic environment. “The first package of tax facilitation presents a…
Moody’s affirmed Egypt’s long-term foreign and local currency issuer ratings at Caa1 on February 19, 2025, maintaining a positive outlook for the country. The agency also confirmed Egypt’s foreign-currency senior unsecured ratings and its MTN program rating at (P)Caa1. Moody’s has upheld its positive outlook on Egypt since March 2024, citing improvements in the country’s debt service burden and external financial position. Notably, the devaluation and flotation of Egypt’s currency have strengthened foreign exchange buffers and lowered borrowing costs. Inflation control The Central Bank of Egypt (CBE) has enhanced its monetary policy credibility, targeting inflation control and maintaining a flexible…
Egypt is gearing up to offer one million job opportunities for its citizens in Germany over the next four years, as part of a broader strategy to tap into international labor markets and address domestic unemployment. Minister of Manpower Mohamed Gobran announced the plan during a phone interview on EL Mehwar TV on February 5, 2024, adding that Egypt would also provide 1,450 training opportunities for employment in Italy. Gobran said that the specifics of the cooperation with Germany will be unveiled once the protocol is signed. “We are working hard to ensure these (work) opportunities provide real value for…
Egypt’s Cabinet has approved a draft law aimed at establishing financial and business zones, following a decision by Prime Minister Mostafa Madbouly, according to an official statement on February 13. New draft law The draft law seeks to regulate operations within these zones, recognizing their critical role in boosting economic growth. It aims to create a balanced legislative framework for the establishment of these districts across Egypt, ensuring optimal outcomes for all stakeholders while adhering to relevant constitutional principles. The law outlines a regulatory framework for central business and financial districts, defining key stakeholders and clarifying the distribution of powers.…
Egypt’s mergers and acquisitions (M&A) activity saw a 27.3% surge in 2024, driven by strong domestic and cross-border dealmaking, according to a report by Baker McKenzie released on February 12. However, despite the increase in transaction volume, the total value of deals declined by 14.2%. Deal value dips The uptick in M&A transactions was fueled by a 31% rise in domestic deals and a 25% increase in cross-border transactions. Egypt averaged 15 deals per month in 2024, up from 12 per month the previous year. However, the average deal value fell to $20.5 million, down from $30.4 million in 2023.…
As Egypt’s economy navigates persistent economic challenges, all eyes are on the upcoming Monetary Policy Committee (MPC) meeting scheduled for February 20, 2025. With inflationary pressures remaining high and the Egyptian pound experiencing fluctuations, the Central Bank of Egypt (CBE) is at a critical juncture. Analysts and business leaders alike are speculating on whether the CBE will shift its stance and ease interest rates after a series of aggressive hikes in the past year. A year of aggressive rate hikes In its effort to combat soaring inflation, the CBE implemented a series of interest rate hikes throughout 2024. The trend…