Beltone Holding acquires Baobab Group to build pan-Africa financial platform
Beltone Holding has announced the successful completion of its acquisition of Baobab Group, through which Beltone Capital, a wholly owned subsidiary of Beltone Holding, acquired 100% of Baobab for a total consideration of €197.6m. Through the acquisition, Beltone expands its geographic footprint to seven African markets—Senegal, Côte d’Ivoire, Madagascar, Burkina Faso, Mali, the Democratic Republic of Congo, and Nigeria—reinforcing its position as a leading regional financial services provider. Baobab Group is a leading provider of micro and small business finance with a strong focus on digital solutions. The combination is expected to support sustainable growth, expand access to finance, and strengthen entrepreneurship across the communities they serve. Following completion of the transaction, Beltone and Baobab will work closely to develop and scale inclusive, technology-enabled financial solutions that support long-term economic growth across Africa.
Source:Daily News Egypt
February 10, 2026 19:17 UTC
CIB reports EGP 117bn in consolidated revenue, EGP 82.2bn net income in FY2025
Commercial International Bank-Egypt (CIB) on Tuesday reported consolidated net income of EGP 20.1bn in the fourth quarter of 2025, up 57% year on year. Full-year 2025 consolidated net income reached EGP 82.2bn, or EGP 18.2 per share, marking a 49% increase compared with full-year 2024. Consolidated revenues amounted to EGP 33.7bn in the fourth quarter, while full-year consolidated revenues reached EGP 117bn. Net interest income:Full-year 2025 standalone net interest income reached EGP 107bn, up 18% year on year. On a real basis, net of EGP appreciation, loan growth reached 47%, or EGP 184bn.
Source:Daily News Egypt
February 10, 2026 19:17 UTC
Egypt, Senegal discuss closer ties ahead of African Union summit
Egyptian Foreign Minister Badr Abdelatty met on Tuesday with Senegal’s Minister of African Integration and Foreign Affairs, Cheikh Niang, to discuss strengthening bilateral relations and coordinating positions on regional and international issues ahead of the upcoming African Union summit. In a statement, Egypt’s foreign ministry said Abdelatty praised the growing ties between Cairo and Dakar, describing Senegal as a strategic partner for Egypt in West Africa. He also congratulated Senegal on assuming the presidency of the Economic Community of West African States (ECOWAS), as well as its joint presidency with the UAE of the 2026 United Nations Water Conference. On education, Abdelatty noted plans to expand French-language university programmes in Egypt to attract Senegalese students. He also pointed to the upcoming inauguration of Senghor University in Alexandria, which aims to strengthen academic cooperation with Francophone African countries.
Source:Daily News Egypt
February 10, 2026 19:17 UTC
Egypt’s urban inflation eases to 11.9% in January 2026
Egypt’s annual urban inflation eased to 11.9% in January 2026, down from 12.3% in December 2025, according to the Central Agency for Public Mobilisation and Statistics (CAPMAS). Core CPI inflation declined to 11.2% in January 2026, from 11.8% in December 2025. Monthly core CPI inflation, calculated by the Central Bank of Egypt (CBE), stood at 1.2% in January 2026, compared with 1.7% in January 2025 and 0.2% in December 2025. According to CAPMAS, monthly headline inflation rose to 1.5% in January 2026, up from 0.1% in December 2025. The CBE noted that the recent moderation in monthly inflation developments compared with typical seasonal patterns points to improved inflation expectations and the gradual fading of the effects of previous shocks.
Source:Daily News Egypt
February 10, 2026 18:52 UTC
Al-Sisi, Russian intelligence chief discuss bilateral ties, Gaza developments
Egyptian President Abdel Fattah Al-Sisi met on Tuesday with Sergei Naryshkin, chief of Russia’s Foreign Intelligence Service, to discuss bilateral relations, security coordination, and regional developments, with a focus on the situation in Gaza, the Egyptian presidency said. According to a presidential statement, Al-Sisi asked Naryshkin to convey his greetings to Russian President Vladimir Putin, expressing appreciation for the current trajectory of Egypt-Russia relations and Cairo’s interest in expanding cooperation across political, economic, and security fields. The talks also addressed regional issues, with Al-Sisi outlining Egypt’s position on developments in the Middle East and stressing the importance of maintaining the Gaza ceasefire, ensuring humanitarian access, and accelerating early recovery and reconstruction efforts in the enclave. The Russian official expressed appreciation for Egypt’s diplomatic efforts to end the conflict, facilitate aid delivery, and oppose the displacement of Gaza residents. Both sides agreed on the need to enhance coordination to prevent further escalation in the region and to continue political consultations aimed at achieving peaceful solutions to regional and international crises.
Source:Daily News Egypt
February 10, 2026 18:52 UTC
Egypt reinstates Ministry of Information in major cabinet overhaul featuring 14 new ministers
Egypt’s House of Representatives on Tuesday approved a major cabinet overhaul featuring the reinstatement of the Ministry of Information and the appointment of 14 new ministers across key portfolios. In the housing and infrastructure sector, Randa El Menshawy, formerly Assistant to the Prime Minister, has been promoted to Minister of Housing. Her team includes Walid Abbas as Deputy Minister for Urban Communities and Ahmed Omran as Deputy Minister for Utilities. Economic leadership was further reinforced with the appointment of Hussein Issa as Deputy Prime Minister for Economic Affairs and Ahmed Kouchouk as Deputy Prime Minister for the Economic Group. The 14 new ministerial appointments approved by parliament are:Hussein Issa: Deputy Prime Minister for Economic Affairs.
Source:Daily News Egypt
February 10, 2026 18:47 UTC
Trump Forces Iran to Negotiate Under Fire - Dailynewsegypt
The buildup of U.S. military power in the Middle East is approaching its peak, as uncertainty hangs over the outcome of ongoing negotiations between Washington and Tehran in the Omani capital, Muscat. In recent weeks, widespread speculation has suggested that a potential U.S. attack on Iran would focus on dismantling the regime through intensive airstrikes. Regime change by force is hardly a departure from American foreign policy tradition. The anticipated meeting between President Trump and Prime Minister Benjamin Netanyahu on Wednesday is likely to address this scenario, which Tel Aviv categorically rejects—particularly Iran’s refusal to abandon uranium enrichment. The “flexibility” imposed by necessity today is not a diplomatic luxury or a tactical choice; it is the final lifeline.
Source:Daily News Egypt
February 10, 2026 18:16 UTC
Egypt stresses right to water, warns of scarcity challenges at UN meeting
Egyptian Minister of Water Resources and Irrigation, Hani Sewilam, said Egypt is continuing its efforts to secure access to safe water for all citizens as a basic human right, during a meeting with Pedro Arrojo Agudo, the UN Special Rapporteur on the human rights to safe drinking water and sanitation. Sewilam said Egypt is facing growing water scarcity, with per capita water availability at around 500 cubic metres per year—less than half the United Nations’ water scarcity threshold. He noted that approximately 98% of Egypt’s water resources originate from the Nile River. The minister said Egypt is implementing projects under its “Second-Generation Water System 2.0” strategy, including the expansion of agricultural wastewater treatment through major plants such as New Delta, Bahr El-Baqar, and El-Mahssama. He emphasised that cooperative, consensus-based approaches among Nile Basin countries remain the only viable path to safeguarding shared water resources and achieving mutual benefits.
Source:Daily News Egypt
February 10, 2026 17:53 UTC
President Sisi inspects latest aircraft in EgyptAir fleet
CAIRO, Feb 9 (MENA) – President Abdel Fattah al-Sisi inspected the latest addition to EgyptAir’s fleet, an Airbus A350, upon his arrival at Cairo International Airport from Abu Dhabi, the capital of the United Arab Emirates. Presidential Spokesperson Mohamed al-Shennawy said Civil Aviation Minister Sameh al-Hefny described the aircraft’s induction as a major step in modernizing EgyptAir’s fleet and enhancing the airline’s ability to serve passengers according to the highest international standards. Hefny added that the move is part of the state’s broader plan to develop the civil aviation sector and reinforce Egypt’s status as a leading regional hub for air transport.
Source:Egypt Independent
February 10, 2026 16:07 UTC
Gen Z won the revolution. The old guard are dominating the election
The “revolution showed the power of what Gen Z can achieve,” Mirza Shakil, a student who participated in the protests to topple Hasina, told CNN. Students gather to remember more than 1,000 killed in a crackdown on protesters, five months after after Sheikh Hasina was toppled. Mohammad Ponir Hossain/ReutersDhaka University students gather as a court delivers the death sentence to former Prime Minister Sheikh Hasina for crimes against humanity. Bangladesh Nationalist Party (BNP) Chairman Tarique Rahman addresses an election rally ahead of the country’s general election in Dhaka on February 8, 2026. Abdul Goni/AFP via Getty ImagesThis instability stands in contrast to the hopes many of the student protesters initially had.
Source:Egypt Independent
February 10, 2026 15:37 UTC
Egypt’s parliament approves cabinet reshuffle including new investment and economy leads
The reshuffle introduces new leadership to the economic group, with Hussein Issa appointed as Deputy Prime Minister for Economy. He will be supported by Mohamed Abu Bakr Saleh, named Deputy Minister for African Affairs, and Samar Mahmoud Abdel Wahid, appointed Deputy Minister for International Cooperation. In the infrastructure and housing sectors, Randa El Menshawy, currently Assistant to the Prime Minister, was named Minister of Housing. The ministry will also include Walid Abbas as Deputy Minister for Urban Communities and Ahmed Omran as Deputy Minister for Utilities. The health portfolio will also include Hossam Hosny, head of the Scientific Committee to Combat Coronavirus, as Deputy Minister of Health.
Source:Daily News Egypt
February 10, 2026 15:30 UTC
Interior Ministry arrests suspect following viral public bus harassment videos in Moqattam
The Ministry of Interior has clarified the circumstances surrounding a series of videos circulated on a social media account. In the footage, the account owner alleged that an individual harassed her, attempted to rob her within the jurisdiction of the Moqattam Police Department in Cairo, and subsequently followed her onto a public transport bus. She further alleged that he followed her while she boarded a public bus. The Ministry added that security forces were able to identify and apprehend the suspect, a laborer residing in Dakahlia Governorate. The Ministry of Interior confirmed that all necessary legal measures have been taken regarding the incident, and the Public Prosecution has assumed the investigation.
Source:Egypt Independent
February 10, 2026 08:46 UTC
Why have gold prices soared to their highest point?
A member of the Gold Division of the Egyptian Chambers of Commerce Sameh Abdel-Hakim on Monday explained the reasons behind the current rise in gold prices in the Egyptian market. He pointed out that periods of high demand sometimes exceed supply in the markets, which is one of the main factors behind the continued rise in gold prices. Abdel-Hakim added that the increased demand for gold bullion has led to a decline in demand for gold jewelry. Strong upward surges are commonHe noted that consumers previously preferred jewelry before the rise of bullion investment following the COVID-19 pandemic. Abdel-Hakim noted that any movement in the global price of gold, even a $10 increase per ounce, is directly reflected in prices in the Egyptian market.
Source:Egypt Independent
February 10, 2026 08:42 UTC
GAFI explores expansion opportunities with ElSewedy Electrometer in Egyptian market
Mohamed El-Gawsaky, Chief Executive Officer of GAFI, met with Emad El-Sewedy, Chairperson of ElSewedy Electrometer, in the presence of Mohamed Shawky, Director of the company’s Electricity Business Line, and Hesham Shaker, Director of Financial Planning and Budgeting. The discussions were attended by senior GAFI officials, including Yasser Abbas, Vice CEO of GAFI; Essam Beheiry, Head of the Free Zones Sector; and Ayman El-Shereay, Head of the Central Administration for Free Zones. Talks covered available expansion opportunities for ElSewedy Electrometer, with an emphasis on achieving a balanced approach between exports to foreign markets and serving the domestic market. For his part, Emad El-Sewedy said that 2026 will mark a year of growth for ElSewedy Electrometer, a leading manufacturer of energy metering and management solutions. ElSewedy Electrometer has successfully met European requirements and achieved export growth from within free zones, underscoring the competitiveness of Egyptian industry.
Source:Daily News Egypt
February 09, 2026 18:21 UTC
Egypt, Greece seek to deepen investment, innovation partnership
The General Authority for Investment and Free Zones (GAFI) is working to strengthen investment cooperation with Greece as part of Egypt’s broader strategy to expand economic ties with international partners. GAFI CEO Mohamed El-Gawsaky met with Greek Ambassador to Cairo Nikolaos Papageorgiou to explore opportunities for joint investment, review the current landscape of Greek investments in Egypt, and discuss priority strategic projects of mutual interest. The talks focused on enhancing bilateral economic cooperation, particularly through supporting Egyptian companies – especially startups – while fostering innovation and improving competitiveness in both domestic and global markets. The GAFI CEO also highlighted the deep historical roots of Egyptian-Greek relations, which he said have evolved into strategic economic and investment partnerships. He described Egypt as a strategic partner and a key hub for Greek investments in the Eastern Mediterranean.
Source:Daily News Egypt
February 09, 2026 18:17 UTC