According to a new report by Baker McKenzie and Silk Road Associates, China's Belt and Road Initiative (BRI) is increasing BRI-related projects with up to US $350 billion over the next five years. Kenya, Tanzania, Ethiopia, Djibouti and Egypt are among the major African economies which may benefit from this substantial investment.
Egypt Tender and Business News
California-based Energy Recovery, Inc., manufacturer of energy recovery devices for oil and gas, chemical and water industries, announced total awards of $3.3 million to supply its PXTM Pressure ExchangerTM technology for desalination projects in Egypt.
Egypt has now secured long-term financing for the 400 MWDC utility scale photovoltaic (PV) power plants. Africa50, the infrastructure fund for Africa, Norfund and Scatec solar are co-funding the project under a Joint Development Agreement.
After Egypt's economy faced rising imbalances leading to high public debt, a widening current account deficit, and declining official reserves, the country was pushed to launch a major reform program in November 2016. According to a new review from the International Monetary Fund, those reforms are now beginning to pay of.
A recent visit to Egypt by Thomas R. Hardy, the Acting Director of the U.S. Trade and Development Agency, focused on strengthening the agency's support for U.S. commercial engagement in Egypt’s infrastructure development.
New study from Control Risks Group suggests that while Nigeria, South Africa, and Egypt, the traditional economic giants of Africa, have been stumbling recently, Kenya and Ethiopia might soon outshine their performance.
Baker Hughes, a wholly-owned subsidiary of GE based in the UK, just announced it had been awarded a major subsea contract from Petrobel for phase two of the “supergiant” Zohr Gas Field situated in the Mediterranean Sea, off the Egyptian coast.
Houston, Texas, based Apex International Energy, an independent gas and oil exploration and production company, recently signed off on two new concession agreements for oil drilling exploration in Egypt.
The VC4A Startup Academy, an online self-learning tool, now offers African entrepreneurs and investors direct access to individual mentors who can help those launching new businesses in the region.
The Office of the United Nations High Commissioner for Human Rights (OHCHR) raised concerns again on August 30 about the Government of Egypt's ongoing assault on freedom of expression in the country.
Egypt's Ministry of Education and Technical Education (MOETE) and the U.S. Agency for International Development (USAID) held a workshop this week to highlight Workforce Improvement and Skills Enhancement (WISE) project’s efforts to link Egyptian students with the workforce and private sector jobs.
According to a report from Valencia, Spain, based ForwardKeys on airline capacity in Africa, Lagos, Nigeria in particular is showing a significant seat capacity decline in 2017. According to a spokesperson from AviaDev, a major airline route development conference in Africa, this comes directly from the difficulty in bringing revenues back out of the country in 2016.
Cairo Electricity Production Company (CEPC), a subsidiary of the Egyptian Electricity Holding Company (EEHC) has signed a contract with Japan's Mitsubishi Hitachi Power Systems, Ltd. (MHPS) to upgrade the Cairo North Combined Cycle Power Station Module I.
The International Finance Corporation, part of the World Bank Group, has agreed to authorize funds to help construct, operate and maintain up to 11 new solar power plants in Egypt.
As part of its "Inspire Egypt" initiative, the British Embassy in Cairo announced a competition to find the best aspiring social entrepreneurs in Egypt. They are holding a 'Hackathon' to bring together aspiring competitors in this arena.
The shortlist of potential winners for the first ever Africa Architecture Awards have just been announced by , which are intended to recognize and reward worthy projects from around the continent and to create a broader awareness of the issues and opportunities inherent in the built environment through dialogue, analysis and critique
The African Innovation Foundation (AIF, www.AfricanInnovation.org) just announced the prize winners for the 6th edition of the coveted Innovation Prize for Africa (IPA, http://InnovationPrizeForAfrica.org). Innovators from Egypt, Uganda and Liberia won the top three awards.
With water becoming more scarce in many communities, Egypt's leadership is inaugurating an important national confernce on the subject of 'River Bank Filtration (RBF) for Drinking Water Supply in Egypt".
The International Monetary Fund's (IMF) Executive Board just completed its first review of Egypt's economic reform program, supported by an arrangement under the Extended Fund Facility. The successful completion of that will allow Egypt to access new disbursements of up to SDR 895.48 million, or about US $1.2 billion.
The first ever "Invest in Africa" Conference and Exhibitors Summit will be happening September 23-25, 2017, at the Gala Theater Complex in Cairo, Egypt.
The United Nations recently issued a warning about water to those living in the Near East and North Africa regions. Their analysis says that the per capita renewable energy availability is around 600 cubic meters per person per year, only 10% of the world average. It is calling for immediate innovation to help solve the problem, something which is getting worse fast because of accelerating climate change.
Dangote Industries Limited of Nigeria was the major 'winner' in last week's financing facilities signed off by the Cairo-based African Export-Import Bank (Afreximbank) on June 30 in Kigali. They received $1 billion out of a total of $1.11 billion authorized
Taking a page from the EU playbook, the Economic Community of West African States (ECOWAS) is well on its way to introducing a common currency for the region. Former Nigerian President Olusegun Obasanjo strongly recommends ECOWAS should consider a two-track approach to proceed, one for those who are ready now and one for those not yet set up for the new currency.
The iconic Sheraton Cairo Hotel & Casino, a major city landmark for over 40 years, just reopened after extensive renovation.
On June 15, the 10 nominees who will be contending for the 2017 Innovation Prize for Africa were announced by the African Innovation Foundation (AIF) (www.AfricanInnovation.org). The top prize will be awarded on July 18 in Accra, Ghana.