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The funds are earmarked for settling past debts and addressing the national budget shortfall.

The South African bank’s presence in Egypt will allow it “to capitalize on the significant emergence of the Gulf-sub Sahara Africa-Egypt corridor.

Al-Mashat also discussed regional and international challenges and their impact on developing countries and emerging economies.

Revenues grew 82.4% to EGP 10.175 billion in Q1 2024 from EGP 5.580 billion in the same quarter last year.

The bank has lowered its expectations for Egypt's economic growth during the current year to 2.8 percent from its previous estimates of 3.5 percent.

Finance Events

Seamless North Africa 02.07.2024

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