Latest in Tag: funding Highlight
Latest in Tag: funding
African, European youths feel there should be more funding for alternative sources of energy, particularly renewables: EIB
Africans and Europeans raised climate change and its consequences, such as food security and severe weather events, as their main concerns.
Visa Foundation supports Egyptian micro, small businesses with $250k in funding
Micro, small businesses account for more than 90% of global businesses, and nearly 60% of global employment
10 Egyptian startups raise $55.3m in 2021
Four other Egyptian startups have obtained financing of less than $1m, with these companies so far not having announced the financial value they obtained.
Egypt’s FRA allows investment fund management companies to manage margin purchases funding
Total of 64 companies have obtained licence to practice investment funds management activities
MSMEDA provides EGP 3.7bn in funding to youth projects during 11M 2020
The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) provided EGP 3.7bn in funding to 124,000 small and micro businesses from January to November 2020, according to Minister of Trade and Industry, and MSMEDA Executive Director Nevine Gamea. The funding helped create a total of 195,000 job opportunities, Gamea said. She added that EGP 119m …
NowPay fintech startup raises $2.1m in seed funding round
The new funds will be deployed to deepen the platform’s capabilities, expand its team, and establish its footprint in the Middle East and North Africa (MENA) region and beyond.
FRA adds funding insurance premiums to consumer finance activities
Decision also includes membership fees for sports clubs
Glamera secures 6-figure seed funding
Plans include expansion in Saudi market and further related services on offer
Source Beauty raises pre-seed funding from 500 Startups
E-commerce startup supports locally sourced beauty products, plans regional and worldwide expansion
World denounces Trump’s WHO funding halt
UN Secretary-General Antonio Guterres calls decision timing inappropriate
S. Korea Eximbank, Egypt discuss funding new projects in local market
Egypt received a business delegation of major S. Korean companies in October
Banks’ SMEs funding amounts to EGP 146bn, targeting EGP 200bn by year-end: El-Etreby
The CBE has instructed banks working in the local market to allocate 20% of their loan portfolios to finance SMEs. El-Etreby pointed out that NGOs were also included within this segment.
MSMEDA pumped EGP 89.2m to finance 3,836 projects in Qena in 5 months
Governorate seeks to cooperate with agency to help young graduates implement projects, become entrepreneurs, said Al-Hagan
Metropolitan Egypt considers funding Khute Spinning with EGP 50m
Loan to be directed to establish 10,000 sqm textile factory in Greater Cairo
‘Eitesal’ launches project to support entrepreneurship with EU funding
Eitesal has launched a new project for entrepreneurship in Egypt, named Egypt Innovation and Entrepreneurship Project – InnoEgypt, with funding from the European Union and the Egyptian government. Four large institutions in Egypt are taking part in the project. They are SEKEM Development Foundation, Eitesal, Techno El-Kher Assiut, and Mohamed Farid Khamis Foundation, in cooperation …
Banque Misr seeks to seal funding deals worth EGP 81.3bn in different economic sectors
The bank has arranged loans worth EGP 32.9bn in FY 2016/2017, from which several sectors benefitted, including electricity, public services, and contracting
Egypt funding gap to hit $12-14bn in current and next fiscal year: Finance Minister
The government considers all options to bridge the gap
IFC invests $26.2bn in funding startups across MENA region
The International Finance Corporation (IFC), which recently took part in the $2.5m fund that was raised by Palestine’s Ibtikar, is heavily investing in a number of startups across the MENA region. Part of the World Bank Group, IFC has reached a total sum of $26.2bn in investments in Arab-based startups. In addition to its investment …
EMF seeks to increase customers to 10 million at total funding of EGP 30bn within four years: chairperson
The EMF includes eight banks, three companies, 752 institutions, and a civil society organization, in addition to the Micro, Small, and Medium Enterprises Development Agency: Zulficar
Banque Misr negotiates with international funding institution to obtain new dollar debt: bank’s chairperson
The bank signs a loan agreement with CDB for $500m during its participation in the Silk Road Conference
Startups in the Middle East: a fun(ding) adventure
The Middle East is a region of great opportunity. We have a large and young population with more than its fair share of problems, and as every entrepreneur knows, every problem is an opportunity; the bigger the problem, the bigger the opportunity. As a region, we are also one of the largest exporters of capital …
Shoukry calls for investigations in funding of terrorist organisations
The parliament will furthermore work on a law to establish a supreme council to combat terrorism
Careem becomes MENA’s second unicorn, raises $350m
Ride-hailing app Careem announced closing an initial investment round of $350m, as part of a $500m funding round. The investment of $350m was co-led by Japan’s Rakuten Inc. and telecom operator Saudi Telecom Company (STC). Up until now, investors in Careem include Abraaj Group, Al Tayyar Group, Beco Capital, El Sewedy Investments, Endure Capital, …
Two revolutions and a US dollar crisis dilute funding development dream of EGX
EGX peaked in 2008 when its market capital recorded unprecedented levels, but it gradually receded due to sharp political and economic fluctuations
UAE to support Egypt’s foreign exchange reserves with $2bn funding: Abu Dhabi crown prince
The CBE announced that the balance of the foreign exchange reserves increased to $16.561bn in March, and is expected to increase to about $18.5bn, after receiving funding from the UAE
Orchestrated assault: Rights NGOs condemn reopening foreign funding case
Timing of the attack suggests it is punishment for engaging with OHCHR, and the UN secretary-general, according to 17 organisations
Will CBE’s initiative solve funding concerns for IT companies?
Egyptian banks, however, are seeking to make their loans more competitive with other funding sources to increase their funding share
Careem acquires funding worth $60m
Abraaj Group is a lead investor in the new deal for the application-based car service provider
Ministry of Antiquities operating with 90% loss of funds
Lack of funds is stalling key restoration and construction work
Mehleb witnesses signing of pollution control funding agreement worth €70m: Cabinet
Project to provide technical and financial support to industrial facilities in line with environmental laws for pollution reduction