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The Arab region's GDP rose by 1.8% to $3.6 trillion in 2024, driven mainly by growth in Saudi Arabia, the UAE, Egypt, Iraq, and Algeria, which account for over 72% of the total GDP. Looking ahead, a positive outlook for 2025 anticipates a growth rate of 2.9%, bolstered by increased oil production and major investments, particularly in Saudi Arabia under the Vision 2030 program.
Emirates NBD has received approval from Egypt’s Central Bank to acquire a 45% stake in Banque Du Caire for USD 1 billion, marking a significant step in Egypt's privatization efforts. Banque Du Caire reported a 112% increase in net profit for 2023, reaching EGP 6.7 billion, with total assets rising 25% to EGP 402 billion. This acquisition aligns with Egypt's strategy to raise USD 2.5 billion through the sale of state-owned businesses during the 2024-2025 fiscal year.
Emirates NBD has received approval from Egypt’s Central Bank to acquire a 45% stake in Banque Du Caire for USD 1 billion, marking a significant step in Egypt's privatization efforts. Banque Du Caire reported a 112% increase in net profit for 2023, reaching EGP 6.7 billion, with total assets rising 25% to EGP 402 billion. This acquisition aligns with Egypt's strategy to raise USD 2.5 billion through the sale of state-owned businesses during the 2024-2025 fiscal year.
Egypt plans to reduce fuel subsidies to cost-recovery levels by December 2025 as part of its economic reforms, confirmed by the IMF following a USD 1.2 billion disbursement. Despite three price hikes in 2023, the government still spends EGP 10 billion monthly on subsidies, although diesel will continue to receive partial support. The current account deficit has risen to 5.4% of GDP, exacerbated by energy sector challenges and declining Suez Canal revenues.
Egypt plans to reduce fuel subsidies to cost-recovery levels by December 2025 as part of its economic reforms, confirmed by the IMF following a USD 1.2 billion disbursement. Despite three price hikes in 2023, the country spends around EGP 10 billion monthly on subsidies, with diesel still receiving partial support. The current account deficit has risen to 5.4% of GDP, exacerbated by energy sector challenges and declining Suez Canal revenues amid geopolitical tensions.
Egypt's fintech sector is rapidly evolving, with over 170 companies enhancing financial inclusion through innovative digital wealth management and investment platforms. Key players include Thndr, Azinvest, Bokra, Valu, and Fawry, each offering unique services that empower users to invest and manage their finances effectively. Thndr, for instance, has surpassed 3 million downloads and processed $1.8 billion in trading volume, while Fawry has expanded its offerings to include a tax-free investment fund, highlighting the growing intersection of digital payments and investment solutions in the region.
Egypt's fintech sector is rapidly evolving, with over 170 companies enhancing financial inclusion through innovative digital wealth management and investment platforms. Key players include Thndr, Azinvest, Bokra, Valu, and Fawry, each offering unique services that empower users to invest and manage their finances effectively. Thndr, for instance, has surpassed 3 million downloads and processed $1.8 billion in trading volume, while Fawry has expanded its offerings to include a tax-free investment fund, highlighting the growing intersection of digital payments and investment solutions in the region.
In February 2025, MENA startups raised $494 million across 58 deals, a nearly fivefold increase from the previous year, with Saudi Arabia leading at $250.3 million. The fintech sector dominated with $274 million, while later-stage investments grew, highlighted by Tabby's $160 million Series E funding. Despite the surge, male-led startups secured 87% of the total funding, leaving only $200,000 for female-led ventures.
Lebanon's private sector showed steady growth in February, with a PMI of 50.5, supported by increased new business, particularly from abroad. Optimism surged following the election of a pro-reform president, despite ongoing security concerns due to Israel's presence in strategic areas.In the UAE, the non-oil private sector maintained growth with a PMI of 55, reflecting improved business conditions and rising new orders. However, firms expressed caution over intense competition and limited job creation, which could impact future growth.
Fawry, Egypt's leading fintech company, has invested EGP80 million (US$1.6 million) in three local startups—Dirac Systems, Virtual CFO, and Code Zone—to enhance its "Fawry Business" ecosystem. This strategic move aims to expand digital solutions in ERP, financial management, and payment integrations, supporting Egypt's digital transformation and cashless economy initiatives. CEOs from the invested companies expressed enthusiasm about the partnership, highlighting the potential for improved operational efficiency and growth in the digital economy.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Arab region GDP grows 1.8 percent to 3.6 trillion in 2024
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13:49 16.03.2025
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emerging digital wealth and investment apps transforming egypt's financial landscape
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13:42 05.03.2025
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