AGP Executive Report

Port & M&A: Egypt’s FRA received Black Caspian’s mandatory tender offer to buy 90% of Alexandria Container & Cargo Handling, with the deal priced at EGP 27.47/share and set to be executed in phases. Fuel Retail Privatization: Taqa Arabia will take a 10% stake in Quick Fuel and manage Egypt’s Wataniya fuel-station network after restructuring, as the state pushes private-sector participation. Energy Trade: Egypt expects Cypriot gas to start arriving in 2028 via Cronos, then Aphrodite flows in 2030, with LNG processing at Damietta. Inflation Watch (Food): IDSC published June 11 prices: packaged rice up to EGP 34.6/kg, tomatoes at EGP 26.6/kg, while potatoes fell to EGP 14.9/kg. Textiles Exports: Ready-made garment exports rose 15% to $1.15bn in the first four months of 2026, led by the US and Europe. AI Education Push: A new initiative in Egypt aims to teach students to build with AI, not just use it, targeting more homegrown AI companies. Commodities & Metals: Gold and silver price moves in Egypt tracked global swings tied to US-Iran de-escalation hopes.

Receivables Financing Push: Egypt’s National Assembly passed a bill enabling businesses to convert unpaid invoices and credit sales into cash, aiming to boost liquidity and expand credit access for MSMEs. Egypt-China Infrastructure: President Sisi approved a nearly $204m Chinese concessional loan to expand Egypt’s light rail network under the 10th of Ramadan City phase. Energy & Trade Shockwatch: With the Strait of Hormuz closed again amid US-Iran escalation, Gulf markets slid and oil prices dropped, while Egypt’s blue-chip index also retreated. BRICS Tech for Health: BRICS countries discussed using AI for sustainable development, with Egypt among participants focused on health, agriculture and climate modeling. Ports IPO Outlook: Qalaa Holdings’ chairman said an IPO for its National Ports Management unit is expected in Sep–Oct 2026. Tourism Demand: Nile cruise and customized Egypt travel operators reported steady demand for heritage-focused, flexible itineraries. World Cup Business Angle: Egypt-China ties and regional connectivity chatter continues as World Cup fever drives travel and media attention.

IPO Watch: COPAD Pharma may push its EGX listing to Q1 2027, after earlier targeting November 2026, with EFG Hermes as adviser and Zulficar as legal counsel. Markets: Egypt’s EGX slid broadly on Wednesday, led by tourism (-4.9%) and building materials (-4.9%), while the banking sector fell 1.7%. Inflation: CAPMAS says urban annual inflation eased to 14.6% in May (from 14.9%), helped by softer food prices like tomatoes. FX Outlook: Standard Chartered expects the pound to strengthen toward ~EGP 49 per $ by end-2026 if regional tensions cool. Energy & Trade: Egypt fully cleared $6.1bn in oil and gas arrears; Suez Canal oil tanker traffic rose ~28% YoY in April; Egypt–DR Congo trade hit $461.6m in 2025. Finance for Growth: EBRD plans €7.5bn in new financing for Egypt over five years, with a focus on real estate and green building. Regional Energy: Egypt and Greece discussed LNG cooperation and re-export to Europe.

Tourism & Energy: Egypt logged $14.4bn in tourism revenues in the first nine months of FY2025/26 (+14.9% YoY) and cleared about $6.1bn in foreign oil and gas arrears, a move aimed at boosting investor confidence. Inflation Watch: CAPMAS said Egypt’s annual headline inflation eased to 13% in May (from 13.4% in April), signaling cooling price pressures. Suez Canal Trade: Suez Canal traffic jumped in April with 529 oil tankers transiting (+28% YoY) and 1,182 total vessels (+14%), lifting April water-transport income to $419m (+27%) amid route disruptions. Finance & Markets: ADCB Egypt and EFG Hermes are launching the bank’s first money market fund, while the Egyptian Exchange delayed CIB and TMG single-stock futures to June 21. Banking Deal: Egypt’s largest bank bought a stake in MNT-Halan, valuing the fintech at $1.4bn after a new investment round. Trade Links: Egypt and Tanzania discussed expanding trade and logistics, including updating HS codes and boosting livestock and halal-compliant meat trade. Digital Payments: Yuno partnered with Onafriq to connect merchants to pan-African payments across 43 markets and nearly 1bn mobile wallets. World Cup Business Mood: A GulfTalent study says most Middle East professionals plan to watch World Cup matches, with many managers preparing flexible HR rules during games.

Gold Exports Push: Egypt’s Federation of Egyptian Industries (FEI) set up a Precious Metals export committee to boost gold, silver and jewellery shipments, focusing on market research, trade-show participation and better coordination with export bodies. Industrial Expansion: China National Tire & Rubber (CNTR) plans a $550m Alexandria expansion with a new Amreya plant, targeting 1.5m heavy-truck and agri tires annually and about 1,600 jobs, with operations due in early 2028. Macro Outlook: Egypt targets 4.8–5.2% growth in FY 2026/27, with a path to 6.2–6.8% by 2029/30, citing regional instability and global uncertainty. Reserves Update: Egypt’s net foreign reserves hit a record $53.1bn at end-May, up from $52.6bn in January, supported by improved FX inflows. Trade/Logistics: AD Ports began trial operations at Noatum Ports’ Safaga terminal under a 30-year concession, aiming to strengthen Red Sea connectivity for mining and Upper Egypt projects. Aviation Climate: IATA launched a Supporting Alliance for CORSIA EEU Supply to help countries clear carbon-credit transfer bottlenecks in aviation emissions trading. Energy/Industry: Egypt’s planning ministry also discussed financing talks with the World Bank on water security and climate adaptation.

World Bank & Agriculture: Egypt’s agriculture minister met the World Bank to boost food and water security via climate-smart farming, smallholder support, irrigation upgrades, and market access under the AgriConnect push. State-Owned Enterprises: PM Mostafa Madbouly reviewed the restructuring plan for state-owned firms, aiming to improve governance, asset use, and competitiveness while enabling future stake sales. Desalination Drive: Madbouly and ACWA Power discussed frameworks to expand seawater desalination capacity to 10m cubic meters/day, with localization of related industries a key goal. Energy Diplomacy: Egypt urged renewed Palestinian offshore gas talks at the Eastern Mediterranean Gas Forum, framing it as a route to economic recovery. Egypt-Slovenia Trade Links: Foreign Minister Badr Abdelatty called for deeper economic and port cooperation, including potential new maritime routes to move Egyptian goods into EU markets. Fintech Funding: MNT-Halan raised an initial $30m tranche valuing it at $1.4bn, with Al Ahly Capital leading and a commercial bank taking an equity stake. Banking & Markets: Egypt’s EGX is set to launch futures contracts on CIB and TMG shares from June 18. Air Connectivity: flynas announced a new Al-Qassim operations base in Saudi Arabia, adding direct routes including Cairo (Sphinx). Business Spotlight: Egypt detained security tycoon Sabri Nakhnoukh and froze assets in an organized crime and money-laundering probe.

Renewables Deal: UAE’s Alcazar Energy Partners signed definitive agreements for Egypt’s 580MW Gabal El-Zeit wind farm, including a PPA with EETC and investment/operations deals with NREA, with a reported $420m investment to be financed externally. Industrial Push: Prime Minister Madbouly toured 6th of October City, inaugurating expansions in automotive, pharma and food, including Nissan’s first Africa-made Magnite rollout in Egypt. Garment Exports: Egypt’s ready-made garment exports rose 15% to about $1.15bn in Jan–Apr 2026, led by the US and boosted by stronger Europe demand. Capital Markets: EGX will launch futures contracts on CIB and TMG shares from June 18, with 3- and 6-month maturities to deepen hedging and liquidity. Energy/Finance Signals: Gold prices slipped locally (21K down ~EGP 75 to ~EGP 6,400/gram) as global prices fell amid rate-hike expectations. Digital Investing: Thndr’s trading app growth highlights Egypt’s shift toward retail investing via fintech platforms.

Egypt’s Reserves Boost: Egypt’s net foreign reserves hit a record $53.1bn at end-May, up from $52.6bn in January, as the government points to stronger FX inflows and resilience. Capital Markets Watch: The EGX ended Monday mixed, with EGX30 down 0.54% while EGX35-LV rose 0.60%; turnover was EGP 11.0bn and retail investors led activity. Banking & IPOs: Banque du Caire’s IPO has been delayed again, with roadshows pushed to September/October and a target listing by year-end instead of June. Fintech & Payments: Fawry denied links to an alleged $330m HSBC France money-laundering case, stressing it operates under CBE oversight. Corporate Results: ICON’s Q1 2026 consolidated profits jumped 46.98% YoY; Themar’s Q1 profits rose 148% YoY. Energy & Industry: Rosatom says Egypt is its top nuclear-project financing recipient, driven by Dabaa; separately, Egypt inaugurated a facility aimed at boosting exports (Alexandria garment complex) and PM Madbouly backed Nissan’s first locally made Magnite. Trade & Connectivity: Otrovato began partial Kenya-Egypt operations and plans a platform launch in Q1 2027; Egypt also moved to strengthen Red Sea logistics links via Canal Trust services.

Industrial & Real Estate: Tanmiya appointed Egytrend to run a feasibility study for an industrial complex and warehouse in Wadi Hof Industrial Zone, including a proposed financing structure. Commodities: Egypt’s gold and silver prices both fell on June 7, with 24-karat gold down to about EGP 7,421 (buy) and silver easing to around EGP 125. Energy Market Reform: Electricity Minister Mahmoud Esmat met Nexus Analytica to support electricity market regulatory frameworks and controls, including separating generation, transmission and distribution. Markets Watch: EGX ended Sunday in the red as the EGX30 slipped 0.93%; turnover was about EGP 9.25bn and Egyptians dominated trading. Macro Snapshot: Egypt’s economy grew 5.2% in the first nine months of FY2025/26 (July 2025–March 2026), while foreign exchange reserves rose to $53.134bn in May. Sustainable Development: Egypt launched the Egyptian Red Sea Initiative to protect coral reefs and boost sustainable tourism, implemented with UNDP and supported by the Global Fund for Coral Reefs. Industrial Push in Alexandria: PM Madbouly opened and inspected multiple factories and investment projects in Borg El Arab, from textiles and apparel to Lipton’s production line and an industrial complex phase. AI & VC: Edafa Venture acquired Egyptian AI startups Kuadra and IRRI Vision to help scale them across regional markets. Air Connectivity: Riyadh Air announced new routes including Cairo (from June 25) as it expands its Boeing 787-9 fleet. Business & Travel: STORY Hospitality joined GHA’s GHA Discovery loyalty programme, giving guests access to Discovery Dollars and a global hotel network.

Electricity Market Reform: Egypt’s Minister of Electricity and Renewable Energy Mahmoud Esmat met Nexus Analytica to shape the regulatory framework for the electricity market under the Electricity Law, aiming for more transparency, competition, and private-sector participation. Industrial Push in Alexandria: PM Mostafa Madbouly opened and inspected multiple factories and production lines in Borg El Arab, including apparel and food processing, as the government doubles down on local manufacturing and exports. Real Estate Boom: Illume Societies launched Illume Residence in New Cairo’s Sixth Settlement with EGP 4.5bn investment, while a new report says Egypt’s North Coast is driving nearly one-third of gated-community sales nationwide, with EGP 1.2trn in 2024-2025 sales. Islamic Banking Expansion: Al Baraka Islamic Bank announced a cross-border service enabling customers to open and manage accounts in Egypt, building on similar cooperation with Türkiye. Gold Prices Slide: Local gold fell about EGP 290 over the week as global prices dropped, with 21-karat gold hitting EGP 6,475/gram by week-end. Inclusive Employment: Helm Foundation’s Khatwa 2026 forum backed wider training and job access for people with disabilities, including a five-year inclusion partnership with Qaderoon B’ekhtelaf. Labour Mobility Talks: Egypt and Albania discussed supplying skilled Egyptian workers and setting up an MoU framework for labour mobility and vocational training. North Africa Business Spotlight: A Huawei ICT Competition wrap-up highlighted Egypt among the Grand Prize winners.

Egypt Energy Watch: EGPC chief Salah Abdel Karim inspected NORPETCO operations in Egypt’s Western Desert, urging faster drilling to boost production and settle arrears with international partners. Egypt Trade & Finance: Egypt and South Korea launched a strategic dialogue to deepen trade and investment links, while China and Egypt renewed a local-currency swap to strengthen financial cooperation. Banking & Credit: A new push highlights the gap between bank capital and business credit access, with Egypt’s broader liquidity and credit conditions still under scrutiny. FDI & Investment Climate: AfDB flagged Egypt among Africa’s most conflict-vulnerable economies, even as Egypt continues to attract investment and digital finance momentum. Regional Risk: Fresh Iran missile and drone attacks on Bahrain and Kuwait renewed Gulf instability fears, with implications for shipping and energy costs. Sports (Business angle): Egypt’s World Cup warm-up ended in a 2-1 loss to Brazil in Cleveland as preparations continue ahead of the tournament.

Aviation Expansion: EgyptAir is targeting a 125-aircraft fleet by 2030, adding 28 more aircraft for delivery by the end of the decade, citing strong performance, better aircraft availability, and plans to expand Cairo International Airport. Social Protection Push: NASSIT is seeking to extend social security coverage to Sierra Leone’s informal sector via cooperation with the Egyptian Embassy, as nearly 90% of the workforce there is outside traditional schemes. Regional Risk & Trade Pressure: Iran fired ballistic missiles and drones toward Bahrain and Kuwait; both countries said interceptions occurred, while Egypt and others condemned the strikes—raising concerns for regional stability and economic spillovers. Gaza Ceasefire Talks: Hamas says Cairo meetings have started to implement the first phase of the Gaza ceasefire, including ending violations, reopening crossings, and discussing second-phase issues like international forces and disarmament. Diplomatic Follow-Up: Egypt is reportedly moving toward resolving Syria’s ambassador nomination after receiving a new candidate for approval. Culture & Soft Power: The Zahi Hawass Foundation hosted a high-level archaeological tour for foreign ambassadors, highlighting Egypt’s heritage as a diplomatic channel. Archaeology: New digs in Egypt uncovered major finds including Roman-era mummies and mummified pets, plus 18th-Dynasty wooden coffins near Luxor.

Gaza Ceasefire Talks: Hamas says it won’t surrender its weapons now, proposing that only official Palestinian police arms would be visible once a Gaza administration takes over, while a Hamas leadership delegation headed by Khalil al-Hayya arrives in Cairo for a new negotiation round. Regional Security: Kuwait and Bahrain report fresh missile and drone attacks and activated air defenses amid renewed US-Iran tensions. Egypt Investment Push: Finance Minister Ahmed Kouchouk tells global investors in London that Egypt is strengthening macro stability and boosting private-sector participation, with growth above 5% and private-sector share rising to about 67% of investments in Q1. Industrial Strategy: Egypt’s industry roadmap at the EBRD Riga meeting targets deeper local manufacturing and technology transfer, aiming for $100bn in industrial exports by 2030. Diplomacy in Africa: Egypt and Germany coordinate on African affairs and Sudan, while Egypt steps up outreach ahead of AU events including Alamein Africa. Archaeology & Tourism: Egypt’s antiquities ministry announces a new Greco-Roman cemetery discovery at Tell Kom Aziza in Beheira, with diverse burial styles and everyday artifacts. Business & Finance Signals: Egypt’s investor meetings also highlight tax/customs facilitation and logistics, as the country courts more capital.

Egypt’s Samurai bond push: Egypt is nearing the final steps to issue yen-denominated “Samurai bonds” worth about $500m, its first such return in three years, with a partial guarantee expected to support investor confidence and borrowing costs. IMF talks and reform timeline: Prime Minister Mostafa Madbouly said Egypt doesn’t expect a new IMF programme after the current EFF ends in December, even as the IMF’s seventh review in Cairo could unlock around $1.6bn by June 15. Tourism drive to Japan: Foreign Minister Badr Abdelatty urged Japanese travel agencies to expand Egypt packages, citing rising Cairo–Tokyo direct flights and highlighting the Grand Egyptian Museum as a key draw. Business climate and state listings: Egypt plans to cut red tape for firms and could list up to four additional state-owned companies on the stock exchange within 12 months, as it pushes reforms tied to the IMF-backed programme. Energy and investment signals: Egypt is also moving on battery-storage projects and other energy deals, including new cooperation discussions with Japan on broader financial and investment support.

IMF Track: Egypt’s PM Mostafa Madbouly says the current IMF program ends in Dec 2026 and Cairo “is not in need of a new program,” as the IMF prepares to complete the 7th review in summer. FX & Inflation Watch: The Egyptian pound stayed broadly stable while the dollar and euro eased at banks, with Fitch pointing to exchange-rate flexibility as a buffer against shocks. Capital Markets: EGX is in talks with S&P Dow Jones over reclassifying Egypt from emerging to frontier markets, while it plans new futures contracts and more state-company listings by end-June. State Asset Push: Madbouly also reiterated plans to list four additional state-owned companies before end of June as part of the State Ownership Policy. Debt & Funding: EFG Hermes led Egypt’s record EGP 5.1bn corporate bond issuance for EFG Corp-Solutions, and Egypt reported a 3.5% primary surplus in the first nine months of FY2025/26. Trade & External Accounts: Egypt’s trade deficit widened 48.8% YoY in March, while remittances hit a record $34.9bn in nine months (+32% YoY). Business & Tech: Foras.AI invested in Efham.ai to launch an Arabic AI learning community across 15+ markets, and SMC Media signed a TikTok partnership as official ad partner in Egypt and KSA. Education: School attendance jumped to 87% from 15% linked to reforms, including smaller class sizes and improved literacy outcomes.

State Asset Sales & Subsidy Reform: Egypt plans to list 4–5 state-owned companies on the EGX this year and shift from in-kind subsidies to cash to better target support, PM Mostafa Madbouly said. Capital Markets: EFG Hermes closed an E£5.1bn corporate bond issuance for EFG Corp-Solutions, the biggest in Egypt’s debt capital market, boosting funding for leasing and factoring. Energy Storage Push: AMEA Power signed EPC deals for 1.5GWh of standalone BESS projects in Egypt (500MWh Horus in Zafarana, 1,000MWh Nefertiti in Benban), with Egypt targeting large-scale storage capacity. Trade & Logistics: Egypt approved the creation of Canal Trust Ship Services to manage specialized vessels linking Egyptian ports with East Africa, aiming to expand exports and intra-African trade. Red Sea Environment: Egypt reiterated efforts to protect the Red Sea’s marine ecosystem and coral reefs, including waste management and biodiversity programs. Business & Markets Watch: TAQA Arabia reported a 65% YoY jump in Q1 2026 net profit to EGP 225m, with revenue growth across petroleum, gas, power and water.