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Some Good News for Cairo s Banking Sector
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PE Investments Boost the Healthcare Sector in Egypt
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Investing in Egypt s private sector | Africa Global Funds
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Bank of Cairo announces new expansion step on the continent Tuesday, 20 April 2021 04:02
(Ecofin Agency) - Bank of Cairo is planning to expand part of its activities in Africa and the Middle East, according to local media Hapi Journal, which quotes Tarek Fayed (pictured), Managing Director of the state-owned financial institution. The initiative is expected to be carried out from a new entity whose creation has been approved by the Central Bank of Egypt, and which will be specialized in the management of payment solutions.
Bank of Cairo s African ambitions began in 1995, when it established the Cairo International Bank Kampala in Uganda, in which it had a 62.5% stake. In 2020, the Egyptian banking group finalized the acquisition of additional shares in the capital of this bank, with two other Egyptian banks.
Monday, 11 January, 2021 - 09:30
Central Bank of Egypt s headquarters seen in downtown Cairo, Egypt. REUTERS/Mohamed Abd El Ghany/File Photo Cairo- Asharq Al-Awsat
Egypt’s annual urban consumer price inflation rate slowed to 5.4 percent in December from 5.7 percent in November 2020, Egypt’s official statistics agency said on Sunday.
According to the Central Agency for Public Mobilization and Statistics (CAPMAS), headline inflation fell by 0.4 percentage point month-on-month in December after having risen by 0.8 points in November.
Core inflation, which strips out volatile items such as food, eased to 3.803 percent in December year-on-year, from 4.021 percent in November, the Central Bank of Egypt said.