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Egypt: Ride-hail companies enjoy growth

The Middle East and North Africa are relatively new markets for ride-hail companies like Uber and homegrown player Careem, but in the past year both companies have seen incredible growth across the region — specifically in Egypt. Jambu Palaniappan, Uber’s general manager of Eastern Europe, Middle East and Africa is confident that after Uber invested $250 […]

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Senegal: Orascom to build $300m Housing Community Project

Samih Sawiris, Chairman of Orascom Development Holding (ODH), is to meet with Macky Sall, Senegal’s president to activate the agreement of the new housing community project with total investments worth $ 300 million. Samih Sawiris said that Senegal has recently allocated a piece of land with total area of three million meter square to implement […]

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Egypt: Discussions on Joint Ownership of Pharmaceutical factories with Ethiopia and Gabon ongoing

Egypt’s Minister of Health and Population Ahmed Emad Eddin will be meeting with the Ethiopian and Gabonese ministers of health scheduled Sunday during his time at Africa Forum 2016 to discuss the establishment of two pharmaceutical factories in both countries in the upcoming period. Emad said Ethiopian and Egyptian companies will jointly finance the two […]

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Africa: Egypt, Ethiopia, Sudan agrees to Strengthen Trilateral ties

Egypt, Ethiopia, Sudan agree on measures to strengthen trilateral ties. The summit meeting was held following talks between the Egyptian and Ethiopian foreign ministers on the Ethiopian dam. According to presidency spokesman Alaa Youssef, Egyptian President Abdel-Fattah El-Sisi, Sudanese President Omar Al-Bashir and Ethiopian PM Hailemariam Desalegn agreed on the importance of bolstering cooperation strategies […]

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Egypt: “Africa 2016” Conference ushers greater Investment talks

African leaders and bankers vowed at an economic summit in Egypt to push for trade and investments on the continent despite the growing threat of “terrorism” in the region. More than 1,200 delegates including some heads of state were in talks to sign business agreements during the two-day summit at the Red Sea resort of […]

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Egypt: Stocks set to extend record streak

Egyptian stocks were set to extend their record winning streak as investors bet last week’s currency devaluation will boost the economy of the most populous Arab nation. Abu Dhabi shares fell as traders cashed in following the biggest jump since January. The EGX 30 Index rose 0.5% as of 12.51pm in Cairo, extending its advance […]