The government is currently working on preparing the budget for FY 2025-26, all while preparing a comprehensive three-year budget with a financial ceiling that can only be exceeded in exceptional cases, one of the sources said. Government entities will also submit another budget covering FY 2026-27 to FY 2029-30. Ministries will be given cabinet-approved financial ceilings that can’t be exceeded.

The Public Government Budget is set to rise to somewhere in the vicinity of EGP8 tn in the fiscal year 2025-2026, up from EGP6.6 tn in the current fiscal year, as the government looks to incorporate additional state economic bodies’ budgets into the budget, a government source told local press.

The budget pencils in growth of around 5-5.5%, reduced public debt, and a primary surplus amounting to approximately 4% of GDP.

The government is also working on reducing the amount of funds allocated for fuel subsidies from the current fiscal year’s EGP150 bn.

The government is planning to further cut down public investments and is set to, instead, rely on self-financing through various entities and limit spending to highly urgent projects or those already nearing completion, the sources said.

The Finance Ministry is looking to launch a new public debt policy document by the end of March.

Phase two of the new capital’s development will be offered to a French investment consortium in March.

The Minister of Finance revealed the features of the proposed package of reforms of the customs system through 19 proceduresز

CIEB released 4Q24 consolidated bottom line of EGP1,944 million (+4% q/q, +44% y/y ), bringing FY24 bottom line to EGP8,030 million (+55% y/y and perfectly in line with Al Ahly Pharos estimate of EGP8,039 million). CIEB is currently trading at P/E25 of 3.1x (based on bottom line post minority and appropriations) and P/B25 of 0.9x. CIEB's BoD proposed cash dividend distribution of EGP3.82/share, implying a payout ratio of 60% and DY of 20%, pending the CBE and AGM approvals.

CCAP reported a consolidated net profit after minority interest of EGP114.5 million in 3Q24 (-94% YoY, -108% QoQ). The company is currently trading at FY25e P/E of 1.4x and EV/EBITDA of 4.8x.

Minister of Petroleum appointed Maged Mostafa El Kordy as acting chairman and managing director for AMOC. 

State-owned El Nasr for Fertilizers & Chemical Industries (Semadco) is gearing up to set up a wind farm and solar power stations with a combined capacity of 500 MW to power its new green ammonia factory in Suez, according to local media.

FWRY has acquired a majority stake in Code Zone, a manager of local hospitals and medical institutions, as part of its strategy to invest in complementary startups. The company is also in negotiations with Gulf firms to expand its presence in Saudi Arabia and the UAE. In the first quarter, Fawry plans to launch new investment services focused on the stock market and gold, including various investment funds. Additionally, the company is considering applying for a digital bank license and has introduced Fawry Business, a platform designed to assist local companies with digital transformation, offering payment management, e-receipts, SME loans, and salary management solutions.

EFIH and its sister company eHealth will work together to link the Universal Health Insurance System with social protection systems under an MoU they inked with the Social Solidarity Ministry and the Universal Health Insurance Authority (UHIA).

ARCC signed a EUR25 million loan agreement with the European Bank for Reconstruction and Development (EBRD) to fund energy efficiency upgrades and expand alternative fuel use.