Latest news with #HishamOkasha
See - Sada Elbalad
10-07-2025
- Business
- See - Sada Elbalad
Egypt Signs $100 Million Sustainability-Linked Deal with EBRD, Banque Misr
H-Tayea Egypt's Ministry of Planning, Economic Development and International Cooperation announced a landmark agreement between the European Bank for Reconstruction and Development (EBRD) and Banque Misr, marking Egypt's first-ever $100 million sustainability-linked financing agreement. The agreement was signed by Hisham Okasha, CEO of Banque Misr, and Francis Malige, Managing Director and Head of Financial Institutions Business Group at the EBRD, in the presence of Minister Dr. Rania A. Al-Mashat, Egypt's Governor at the EBRD. Senior executives from both institutions, including Mark Davis, EBRD Managing Director for the Southern and Eastern Mediterranean region, also attended the signing. Minister Al-Mashat highlighted Egypt's commitment to expanding innovative financing tools for the private sector in collaboration with international partners. She emphasized that this deal aligns with Egypt's broader strategy to mobilize resources for green projects and private sector-led growth, positioning sustainable financing as a driver for national development. Since 2020, Egypt has secured over $15.6 billion in development financing for the private sector, with more than 40% channeled to financial institutions. Al-Mashat also noted the importance of the Ministry's partnership with the Federation of Egyptian Banks, including the newly launched "HAFIZ" platform, which connects banks with enterprises seeking financing and advisory services. She praised the EBRD for its strong role in supporting Egypt's financial sector, noting that more than 28% of the EBRD's portfolio in Egypt is directed toward financial institutions. She also commended the Central Bank of Egypt and the Financial Regulatory Authority for fostering an enabling regulatory environment and encouraging innovative financial products. Al-Mashat described the EBRD as a model of how international institutions can foster private sector engagement to accelerate climate and sustainable development goals, with more than 80% of its global financial portfolio supporting the financial sector. She also pointed to Egypt's "NWFE" platform—now recognized as a global example of integrated financing for sustainable development, as cited in recent international forums—as a mechanism that could benefit other developing economies. Turning to the broader economic outlook, Minister Al-Mashat reported that Egypt's economy grew by 4.7% in the third quarter of the fiscal year, exceeding expectations. She cited positive indicators in tourism, industrial production, and private investment, noting that private sector investments now account for over 60% of total investment—boosting job creation and economic resilience. The signing comes following a cooperation protocol between the Ministry and the Federation of Egyptian Banks to enhance partnerships between the banking sector and international development partners, particularly to support small and medium-sized enterprises (SMEs). read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language
Egypt Today
23-05-2025
- Business
- Egypt Today
Banque Misr supports the Nclude Innovation Fund LP ('Nclude') in the transition of its management to DPI Venture Capital
Banque Misr was the anchor investor in launching the Nclude Fund in 2022, with the goal of supporting and developing early-stage fintech companies and unleashing their full potential, in line with its broader strategy to transform its services digitally to enable financial inclusion, drive growth and deliver higher returns. DPI Venture Capital was launched by Development Partners International to provide investors access to pioneering, early stage, growth-orientated technology businesses across the Middle East and Africa. The Nclude Fund, with $105 million in assets under management and a target size of $150 million, is the largest fintech-focused fund in Africa. Since its establishment in March 2022, Nclude has invested over $42.5 million across 12 transactions including companies such as Paymob, Khazna, Flapkap, and Connect Money. Launched with the support of the Central Bank of Egypt, Nclude is backed by LPs from Egypt's largest national banks including Banque Misr, National Bank of Egypt, and Banque du Caire and joined by financial services focused LPs e-Finance Investment Group, EBC, and Mastercard. Nclude has the ability to invest up to 30% of its commitments into deals in the wider Middle East and Africa region, to help such companies expand into Egypt, further expanding Egypt's position as a regional fintech hub. Hisham Okasha, Banque Misr CEO: 'The establishment of Nclude Fund was a key milestone in implementing our strategy to support the venture capital space. We believe that integrating these companies in our ecosystem and unlocking obvious synergies will take them to the next level of growth. We will continue to support Fintech businesses by providing financial, technical and digital solutions through our direct investment arm, private equity funds or accelerator programs in order to drive better experiences for our customers and greater value for the Egyptian economy.' Ahmed Sobhy, Banque Misr CIO: 'We are excited to partner with a prominent player like DPI to further cement our interest in growing digital and innovation led businesses and transforming them into leading institutions in their respective fields. We are confident that DPI will utilize its solid track record in Africa to existing investments in the Nclude Fund as well as new investments.'
Economic Key
23-05-2025
- Business
- Economic Key
Banque Misr Backs the Transition of Nclude Innovation Fund Management to DPI Venture Capital
Banque Misr was the anchor investor inlaunching the Nclude Fund in 2022, with the goal of supporting and developing early-stage fintech companies and unleashing their full potential, in line with its broader strategy to transform its services digitally to enable financial inclusion, drive growth and deliver higher returns. DPI Venture Capital was launched by Development Partners International to provide investors access to pioneering, early stage, growth-orientated technology businesses across the Middle East and Africa. The Nclude Fund, with $105 million in assets under management and a target size of $150 million, is the largest fintech-focused fund in Africa. Since its establishment in March 2022, Nclude has invested over $42.5 million across 12 transactions including companies such as Paymob, Khazna, Flapkap, and Connect Money. Launched with the support of the Central Bank of Egypt, Nclude is backed by LPs from Egypt's largest national banks including Banque Misr, National Bank of Egypt, and Banque du Caire and joined by financial services focused LPs e-Finance Investment Group, EBC, and Mastercard. Nclude has the ability to invest up to 30% of its commitments into deals in the wider Middle East and Africa region, to help such companies expand into Egypt, further expanding Egypt's position as a regional fintech hub. Hisham Okasha, Banque Misr CEO: 'The establishment of Nclude Fund was a key milestone in implementing our strategy to support the venture capital space. We believe that integrating these companies in our ecosystem and unlocking obvious synergies will take them to the next level of growth. We will continue to support Fintech businesses by providing financial, technical and digital solutions through our direct investment arm, private equity funds or accelerator programs in order to drive better experiences for our customers and greater value for the Egyptian economy.' Ahmed Sobhy, Banque Misr CIO: 'We are excited to partner with a prominent player like DPI to further cement our interest in growing digital and innovation led businesses and transforming them into leading institutions in their respective fields. We are confident that DPI will utilize its solid track record in Africa to existing investments in the Nclude Fund as well as new investments.' تم نسخ الرابط
