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Urban Inflation in Egypt Declines to 14.9% in June
- What: Data from the Central Agency for Public Mobilization and Statistics (CAPMAS) revealed that the annual urban consumer price inflation rate dropped to 14.9% in June, down from 16.8% in May.
- So What: Inflation erodes purchasing power. For example, 100 EGP today buys less than it did a year ago. If inflation is high and your income hasn’t kept pace, your financial situation is under pressure.
- Now What: Headline inflation remains above the Central Bank of Egypt’s target of 7% ±2% for the fourth quarter of 2026. The bank is set to decide later today whether to hold or cut interest rates for the third consecutive time.
With $650m in Investments.. Egyptalum to Build Solar Power Plant
- What: Egypt Aluminum “Egyptalum” (EGAL) signed an agreement with a subsidiary of Norway’s Scatec to build a solar power plant with a total capacity of 1,000 megawatt-hours, dedicated to powering its Nag Hammadi facility. The project will be implemented in two phases, with an estimated total investment of $650 million, fully financed by the Norwegian partner.
- So What: Egyptian companies that export to the European Union are seeking to “align with regulations” ahead of the EU’s Carbon Border Adjustment Mechanism (CBAM) coming into effect in January 2026. Firms like Arabian Cement (ARCC) and Misr Beni Suef Cement (MBSC) are among those affected.
- Now What: A number of EGX-listed companies are expected to ramp up investments in renewable energy to avoid future carbon tariffs and maintain their export competitiveness in European markets.
- What: Egypt’s private education giant CIRA (CIRA) is close to increasing its stake in Cairo for Educational Services (CAED) from 69.4% to 90%, representing around 2.5 million shares, at a price of EGP 32.7 per share.
- So What: The mandatory tender offer, subject to approval by Egypt’s Financial Regulatory Authority (FRA), is part of the execution of a broader acquisition deal in which Saudi-backed Social Impact Capital acquired nearly 89% of CIRA in January 2025.
- Now What: According to Al Borsa newspaper, CIRA plans to expand into several countries, with Saudi Arabia at the forefront, and is allocating over EGP 1 billion in investments in Egypt’s education sector over two academic years, averaging EGP 700 million annually.
- What: Egyptian Resorts Company (EGTS) reported a net profit exceeding EGP 13 million in Q1-2025, compared to a net loss of over EGP 616 million in Q1-2024.
- So What: Founded in 1995, Egyptian Resorts was established to develop Sahl Hasheesh, located south of Hurghada, into a world-class tourist destination. The company is responsible for master planning, building infrastructure, and selling land for high-end hotel and residential projects.
- Now What: Publicly listed companies are required to report their earnings every three months, with a maximum of 45 days after the end of each quarter to submit their financial statements.
What else is clapping?
- ACT Financial seeks to distribute EGP 200m in dividends
The Board of Directors of ACT Financial Investments (ACTF) has approved a proposal to the Ordinary General Assembly to distribute cash dividends to shareholders for the year 2024.
The proposed total payout amounts to EGP 200 million, equivalent to EGP 0.18 per share.
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