IFC invests $5 million in Egypt-based Fintech venture capital

The International Finance Corporation (IFC), a member of the World Bank Group, announced Wednesday the investment of $5 million a new venture capital fund from Disruptech Ventures to support development in Egypt’s fintech sector and help expand access to financial Read more

Addis Ababa rejects and qualifies US sanctions of inappropriate and unacceptable

This is a new milestone in U.S.-Ethiopia relations. Washington has decided to impose sanctions against Ethiopian and Eritrean officials. First there will be visa restrictions, followed by heavy financial sanctions, including in the areas of security and economic assistance. The Read more

European Investment Bank to finance three metro projects in Egypt

The European Investment Bank, EIB, will finance up to €1.1 billion three metro projects in Egypt following an agreement with the North African country, Arab Finance reports citing a statement from the Egyptian government. The financing includes €138 million for Read more