Egypt's new, UN-backed, refugee plan 🧳

Hey friends — hope everyone in Egypt enjoyed the long weekend! And if you’re tuning in from abroad, we hope you’re enjoying (or just wrapped up) yours too.

For those in Egypt, let’s be honest — you’re probably already scheming how to make the most of the next one coming up this week.

Now, let’s dive into this week’s roundup.

• President Sisi pushes for peace 🕊️

• Big backing for new refugee plan 💰

• Valu debuts in EGX 🔔

• Second $1 billion sukuk sold 💸

MIDDLE EAST | IRAN-ISRAEL | DIPLOMACY
AL-SISI PUSHES FOR PEACE AMID MIDDLE EAST ESCALATIONS

Egyptian President, Abdel Fattah Al-Sisi, emphasized the critical need to preserve peace amid regional escalations in a phone call with Iranian counterpart, Masoud Pezeshkian.

Context: This dialogue came on the heels of a ceasefire announcement by the U.S. President Donald Trump, which marked a halt to what he termed “the 12-day war.”

Respecting Arab neighbors: In his remarks, Al-Sisi condemned Iran’s recent missile strike on Al-Udeid Air Base in Qatar, labeling it a violation of national sovereignty and asserting Egypt’s stance against attacks on fellow Arab states.

The missile strike was a response to U.S. airstrikes on Iranian nuclear facilities, which had escalated hostilities that began with Israeli attacks on 13 June.

Nuclear negotiations at the forefront: The two leaders discussed Egypt’s diplomatic efforts aimed at de-escalating tensions, particularly with the United States, and highlighted the urgency of resuming nuclear negotiations between Tehran and Washington.

They both agreed on the necessity of establishing a weapons-of-mass-destruction-free zone in the Middle East.

Rough road ahead: Despite the proactiveness in the phone call, the Trump-brokered ceasefire started off rough, with violations from both governments shortly after its announcement. Things have since stabilized but time will tell if the ceasefire will continue to hold.

REFUGEES | ASYLUM SEEKERS | MIGRATION
EGYPT LAUNCHES NEW REFUGEE RESPONSE PLAN WITH $339 MILLION UNITED NATIONS BACKING

Egypt unveiled its first nationally led framework to support refugees and vulnerable communities. Dubbed the 2025 Egypt Refugee and Resilience Response Plan (ERRRP), and launched with the United Nations High Commissioner for Refugees (UNHCR) and United Nations Development Programme (UNDP), the program will inject USD 339 million (EGP 16.9 billion) to assist 1.8 million refugees, asylum seekers, and host communities over the next year.

What it covers: The ERRRP blends emergency relief with development goals —expanding access to education, healthcare, food, cash aid, and livelihood support. It also aims to strengthen local institutions’ capacity to serve growing needs.

Why now: Since the Sudan war broke out in April 2023, Egypt has seen a 12-fold increase in Sudanese arrivals, now hosting 1.5 million Sudanese and over 1 million registered refugees from over 60 other nations.

The bigger picture: Officials say the plan reflects a shift from crisis response to long-term resilience, in line with Egypt’s Vision 2030. UN agencies hailed the plan as a “groundbreaking” model for managing large-scale displacement with local leadership.

STOCK MARKET | FINTECH | VALU
VALU’S EGX DEBUT MARKS A MILESTONE FOR EGYPTIAN FINTECH

Valu, the fintech arm of EFG Holding (and this newsletter’s financial partner), officially began trading on the Egyptian Exchange (EGX) this week — becoming the first consumer finance company to do so.

Not a traditional IPO: EFG distributed nearly 20.5 percent of Valu shares to its own shareholders as an in-kind dividend. That means if you already owned EFG shares as of 12 June, you received one Valu share for every 3.3 shares of EFG you held. No public offering took place — just a redistribution of ownership from parent to shareholders.

Global giant joins: Tech titan, Amazon, also acquired 3.95 percent of Valu’s shares at EGP 6.041 per share on debut.

The company’s performance so far: Valu has processed over 9.2 million transactions and averages 16,000 daily transactions as of Q1 2025. Users average 12 purchases a year — rising to 22 for cardholders. In 2024, it recorded EGP 423 million in net profit, up 78 percent from the year before.

Fast growth and market share: From 2019–2024, Valu’s gross revenue grew at a compound annual growth rate of 146 percent — meaning it grew exponentially year over year. The company now holds 25 percent of Egypt’s consumer finance sector, and recently secured a full fintech license that allows for fully digital services like eKYC and smart contracts.

What the listing means: Officials from the FRA and EGX praised the non-traditional listing, saying it expands ownership without a public offering or capital increase. It also shows the EGX is adapting to new, tech-integrated models of growth.

Bottom line: With backing from EFG and Amazon, and a booming digital customer base, Valu’s debut is a major moment for Egypt’s fintech future — and a vote of confidence in consumer finance.

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BONDS | SOVEREIGN SUKUKS | DEBT
EGYPT SELLS SECOND $1 BILLION SOVEREIGN SUKUK

Egypt’s Finance Ministry announced it has completed its second sovereign sukuk issuance, offering USD 1 billion (EGP 49.7 billion) in Islamic-compliant bonds through a private placement fully subscribed by Kuwait Finance House (KFH).

The sukuk, issued for the 2024/25 fiscal year, carries a three-year maturity and an annual coupon of 7.875 percent.

Diversifying debt sources: The issuance is part of Egypt’s strategy to broaden its financing toolkit, reduce the cost of external debt, and access new investor bases. It builds on a 2023 USD 1.5 billion sukuk and falls under Egypt’s USD 5 billion sovereign sukuk program.

What’s the end goal? The ministry reaffirmed plans to cut external debt by USD 1–2 billion this year, improve debt sustainability, and extend debt maturity—all amid ongoing geopolitical and economic challenges.