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Afreximbank provides $150m for Egyptian factoring companies within 5 years

The African Export-Import Bank (Afreximbank) is providing $150m for Egyptian factoring companies within 5 years, according to the Managing Director of Intra-African Trade Initiative of Afreximbank Kanayo Awani. Awani told Daily News Egypt that the funding began this year and will end in 2021. Awani noted that the bank is very interested in the file …

Shaimaa Al-Aees

Recently opened factory will increase Q4 profits: managing director of MBEN

Ahmed Bahaa, managing director of MB for Engineering and Contracting (MBEN), and member of the Egyptian Exchange’s board, revealed that setting up the company’s recently opened factory in Sixth of October city is expected to lead to a hike in profits throughout the fourth quarter (Q4) of 2017. “The company’s financials in terms of revenues …

Noha Abd ElRahman

cars

EAFA presents automotive factory’s establishment project to presidency

The Egyptian Auto Feeders Association (EAFA) presented a project to the presidency which would see the establishment of a factory for the manufacture of export-ready Egyptian cars, chairperson of the association Ali Tawfik said. This comes after the cabinet and the Ministry of Industry expressed an interest in the project. The project aims to establish …

Ahmed Amer