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Egypt: FRA reveals size of non-banking financing in July 2024

The Financial Regulatory Authority (FRA) reported a notable increase in non-banking financing across various sectors in July 2024. According to the latest figures, the number of consumers benefiting from consumer finance rose to 2.127 million in July 2024, up from 1.986 million in July 2023. The total volume of outstanding loans for micro, small, and […]

Egypt’s Central Bank raises cash withdrawal limit, extends bank hours amid telecom disruptions

The Central Bank of Egypt (CBE) has temporarily raised the daily cash withdrawal limit for individuals and businesses at bank branches from EGP 250,000 to EGP 500,000. This exceptional measure is intended to cushion the impact of ongoing telecommunications disruptions that have affected regular banking operations across the country. The CBE stated that the adjustment […]

Morocco Launches International Tenders for Seven Solar Plants

Morocco has launched international tenders for the building of seven solar energy plants in the south and east of the country. The German development bank KfW is a partner in this 200 MW Noor Atlas project. According to Moroccan state-owned utility Office National de l’Electricité, the tenders are divided into two lots: one for the […]