Financial Services

Egypt’s sizeable informal economy represents a significant challenge for the government. With between 40% and 60% of economic activity taking place out of sight of the Ministry of Finance, the government’s economic reform agenda faces a number of obstacles. Informal employment is generally characterised by low-wage, low-skill activity with...

The first cryptocurrency transaction in history was feted in just two words: “Running Bitcoin”. This came in the form of a tweet on January 11, 2009 by Hal Finney, a US software developer. Some 10 years and over 1600 initial coin offerings later, the world of crypto-, virtual and other digital currencies looks to have provoked an active...

Higher interest rates following the flotation of the Egyptian pound in 2016 made it costly for businesses and individuals to obtain funding from Egyptian banks. The depreciation of the currency also raised input costs for businesses and reduced their ability to expand operations, thereby reducing demand for funding to cover capital expenditure...

The largest of its kind in North Africa, Egypt’s banking sector has also long been seen as one of the most stable in the region. Since 2010 the industry has overcome the challenges of political revolution, currency crises and an interest rate environment that has acted as a barrier to credit extension. While Egypt’s macroeconomic outlook at...

In a challenging year for economies across the region, Egypt’s capital market reform continued apace. Short-term measures in response to the economic effects of the Covid-19 pandemic joined a series of reforms aimed at establishing the bourse as a safer and more transparent destination for domestic and international investors. While market...