Africa

ADQ forms framework agreement worth up to $500 million investment in Kenya’s priority sectors

ADQ forms framework agreement worth up to $500 million investment in Kenya’s priority sectors

Kenya has the largest economy in East Africa and is projected to grow at 5-6 percent in 2024

Russian businesses eye UAE’s market for global development, expansion

Russian businesses eye UAE’s market for global development, expansion

Russia sees the UAE market as a promising hub for conducting trade with Middle Eastern and African countries

UAE’s AD Ports secures 20-year agreement to operate, upgrade Angola’s Luanda terminal

UAE’s AD Ports secures 20-year agreement to operate, upgrade Angola’s Luanda terminal

AD Ports Group acquires 90 percent stake in joint venture to serve the broader logistics market in Angola

Egypt, Italy to establish AI hub in Cairo to serve Africa

Egypt, Italy to establish AI hub in Cairo to serve Africa

Egypt's strategic location positions it as a key partner in AI development in Africa

UNCTAD forecasts 2.6 percent global economic growth in 2024, warns of urgent issues beyond inflation

UNCTAD forecasts 2.6 percent global economic growth in 2024, warns of urgent issues beyond inflation

This marks the third straight year of growth below the pre-pandemic average of 3.2 percent from 2015-2019

Egypt’s net foreign assets deficit falls to $1.36 billion in March: CBE

Egypt’s net foreign assets deficit falls to $1.36 billion in March: CBE

International reserves increase to $40.361 billion from $35.311 billion in February

Egypt’s SCZONE attracts 128 projects worth over $3 billion, Chinese firms contribute 40 percent

Egypt’s SCZONE attracts 128 projects worth over $3 billion, Chinese firms contribute 40 percent

SCZONE inked 14 agreements with major Chinese companies to boost investment

Africa faces $277 billion annual climate adaptation funding shortfall, warns African Development Bank President

Africa faces $277 billion annual climate adaptation funding shortfall, warns African Development Bank President

Adesina said the devastating African drought demands urgent, collective action to boost support and financing

Egypt to ensure foreign currency availability through maintaining flexible exchange rate

Egypt to ensure foreign currency availability through maintaining flexible exchange rate

This represents a key condition for Egypt's $8 billion loan program signed with the IMF

Egypt’s GDP expected to reach 4 percent in FY 2024/2025: Ministry of Finance report

Egypt’s GDP expected to reach 4 percent in FY 2024/2025: Ministry of Finance report

The report predicts an 18.1 percent average annual headline inflation rate

Egypt targets 3-5 year timeline for IPO program, finance minister reveals

Egypt targets 3-5 year timeline for IPO program, finance minister reveals

Maait highlighted that Egypt is on track to achieve financial stability after facing a severe economic crisis

Egypt’s finance minister prioritizes inflation reduction, job creation in economic reform agenda

Egypt’s finance minister prioritizes inflation reduction, job creation in economic reform agenda

Egypt further plans to sell more state assets, which would reduce the state's role in the economy