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Tag: Egypt

Egyptian automotive aftermarket enters the fast lane

Egyptian automotive aftermarket enters the fast lane

Economy
Egypt’s automotive aftermarket is accelerating and has been dubbed “one of Africa’s most exciting markets” as its motoring population and vehicle sales grow, its economy expands, FDI floods in, and the government moves to combat automotive emissions. It’s a powerful combination which Germany’s Africa business experts africon GmbH, the knowledge partners of Automechanika Dubai, the Middle East and Africa’s largest international automotive aftermarket trade show, contends has resulted in an aftermarket now worth between US $1-2 billion. And africon GmbH should know, having worked on more than 30 automotive market projects across Africa in the last few years. The company has now turned its expertise specifically on the high potential Egyptian market with a whitepaper collated from ...
Islamic Corporation for the Development of the Private Sector (ICD) and Federation of Egyptian Industries (FEI) sign a collaboration MoU to develop and strengthen the Egyptian private sector

Islamic Corporation for the Development of the Private Sector (ICD) and Federation of Egyptian Industries (FEI) sign a collaboration MoU to develop and strengthen the Egyptian private sector

Business, Economy
The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-PS.org), the private sector arm of the Islamic Development Bank Group (IsDBG), and the Federation of Egyptian Industries (FEI) have signed a Memorandum of Understanding (MoU) to establish a framework of cooperation between the two parties for the furtherance of their respective mandates in several  areas of financing and investments. The MoU was signed by Mr. Ayman Amin Sejiny, CEO of ICD and Eng. Mohamed Zaki El Sewedy, Chairman of the Federation of Egyptian Industries. This partnership perfectly suits the long-term goals of the ICD, and we are happy to be working with FEI toward the achievement of this worthy cause Under the MoU both parties will co-operate in exploring the possibility of supp...
How AFCFTA will build regional value chains, benefit countries without industrial base

How AFCFTA will build regional value chains, benefit countries without industrial base

Business
The secretariat for the African Continental Free Trade Area (AfCFTA) said it is actively working to build regional value chains where African countries can benefit immensely from the trade agreement when it finally kicks off. To identify the value chains for African countries to benefit from the agreement, the secretariat said what it required was an action plan for the implementation of an industrial development strategy that would be applied on the African continent. Secretary-General, AfCFTA, Wamkele Mene, who disclosed this spoke on “AfCFTA Implementation Post-COVID-19” during a virtual conference hosted by the American Business Council (ABC) in Nigeria and US Africa Business Centre. He said if the agreement benefits only countries that already have a relative ...