- Egypt Weekly Roundup
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- The EGP's recovery 📈
The EGP's recovery 📈
What else: Egypt and Arab states ask Hamas to withdraw from Gaza, Breadfast receives $10 million investment, teen tragically killed by father, and more inside.
July 27 – August 3 | 2025
Image: Egyptian bank notes being counted, a major topic for this week.
Hey friends,
Welcome back to another edition of the Egypt Weekly Roundup. Being the first Sunday in August, you’re either reading this in your office or in some summer destination. So let’s not take up too much of your summer time and dive right in.
EGP-USD | FOREIGN EXCHANGE | CURRENCY
EGYPTIAN POUND CONTINUES TO RECOVER AGAINST THE DOLLAR
The Egyptian pound strengthened to EGP 48.75 per USD — its highest since November 2024 — fueled by a seasonal influx of foreign currency from Gulf tourism, remittances, and returning expats.
Remittances, one of Egypt’s largest sources of foreign currency, jumped nearly 70 percent during the first 11 months of the 2024/25 fiscal year, hitting USD 32.8 billion, according to data from the Central Bank of Egypt.
Why it matters: Improved foreign currency availability and restored investor confidence have helped push the pound below the EGP 50 mark. High interest rates are also attracting hot money inflows.
The bigger picture: Analysts say this rebound reflects deeper reforms and reduced geopolitical stress. Foreign reserves, tourism, non-oil exports, and Gulf investment are all trending up — and with the banking sector’s net foreign assets turning USD 14 billion positive, some believe the pound could continue its upward trajectory into late 2025.
🏦 MORE ECONOMY:
⚡️ ELECTRICITY: Egypt’s unified electricity grid registered its highest-ever load last Saturday, setting a new record of 38,800 megawatts and marking an increase of 800 megawatts in a single day – Know more
🌾 AGRICULTURE: Egypt’s agricultural exports have exceeded 6.24 million tonnes as of mid-month, up by 575,000 tonnes from the same time last year – Know more
🌐 INTERNATIONAL MONETARY FUND: The IMF slightly lowered its forecast for Egypt’s real GDP growth by 0.2 percent for the current FY2025/2026, citing global trade shifts – Know more
Valu Prepaid Card = Moneyback All Month Long!
Whether you’re on the road or living up the North Coast summer, your Valu prepaid card has your back this month with three limited-time moneyback offers:
🚗 100% moneyback at Mobil: Yes you heard that right — 100% of your money back into your Valu prepaid card. Fuel, oil, snacks, a full cashback awaits.
*Valid once a week | Up to 4 times a month, 1 time a week | Max cashback: EGP 1000
🛑 Ends 20 August
🌊 15% moneyback across North Coast hotspots – From restaurants and cafés to bus transportation services, enjoy the summer and get rewarded.
🛑 Ends 30 August
🌮 20% moneyback at Takosan Sahel – Everyone’s favorite Mexican-Asian fusion restaurant is offering 20% moneyback across its Sahel branches when using Valu’s prepaid card.
🛑 Ends 15 August
Exclusively for Valu prepaid cardholders. T&Cs apply.
BREADFAST | EBRD | CAPITAL RAISING | INVESTMENTS
BREADFAST BANKS $10 MILLION EBRD INVESTMENT TO FUEL EGYPT EXPANSION
Credit: Breadfast
Cairo-based grocery delivery startup Breadfast secured USD 10 million (EGP 483.4 million) from the European Bank for Reconstruction and Development (EBRD) as part of its Series B2 round, led by Novastar Ventures. The fresh capital lifts Breadfast’s valuation to nearly USD 400 million (EGP 19.3 billion), up from USD 268 million last year.
Why it matters: The funds will go toward new fulfillment centers in Cairo, Giza, Alex, and Mansoura, alongside improvements to tech, private-label products, and logistics — all while creating jobs in digital operations.
The bigger picture: Breadfast, founded in 2017, has grown into a quick-commerce giant delivering 6,000+ products in under 60 minutes. With over 30 dark stores, 1 million monthly orders, and a customer retention rate above 80 percent, it’s now eyeing new cities and possibly new markets. Its full-stack approach — from bakeries to delivery — is proving both scalable and investor-worthy.
💡 MORE BUSINESS:
🏝️ NORTH COAST REAL ESTATE PRICES: We all know Egypt’s North Coast is a booming real estate destination at the moment. Now, we’re hearing the government is introducing new fees on development projects in the area, which could drive up property costs even further – Know more
🧵 TEXTILE: Egypt-based CWA Textiles will invest EGP 970 million (USD 19.9 million) to set up a new factory in the Ain Sokhna Industrial Zone – Know more
HAMAS | MIDDLE EAST | ISRAEL’S WAR ON GAZA
EGYPT, ARAB NATIONS CALL ON HAMAS TO DISARM AND END GAZA RULE
In a joint declaration at the United Nations General Assembly, Egypt, Saudi Arabia, and Qatar — with backing from the EU and 17 other countries — called on Hamas to disarm and end its control over Gaza, urging it to hand power to the Palestinian Authority with international support. The move aims to pave the way for a sovereign Palestinian state.
Worsening crisis: The call comes amid famine-level malnutrition in Gaza caused by Israel’s ongoing attacks and blockade to aid. Heading into its second year of war, two out of three official famine indicators have already been met, according to the IPC.
What’s next: The declaration also hints at international forces stabilizing Gaza post-conflict. Meanwhile, Egypt continues aid efforts, and Western countries like France, Canada, the United Kingdom, and Malta recently showing growing support for recognizing Palestinian statehood.
🌍️ MORE FOREIGN AFFAIRS:
🇱🇾 LIBYA: Eighteen Egyptian migrants died and 50 others went missing when a boat capsized off the coast of Libya’s Tobruk – Know more
🇺🇸 USA: Foreign Minister Badr Abdelatty met with US Senators during his Washington visit to discuss Gaza, Sudan, and Egypt-US ties – Know more
🇪🇬 EGYPTIANS ABROAD: Polling stations at Egyptian embassies and consulates across 117 countries opened their doors for Egyptians abroad to cast their votes in the 2025 Senate elections – Know more
🇸🇩 SUDAN: With parts of Khartoum stabilizing, Egypt’s National Railways Authority has launched a second special train service to support the voluntary return of Sudanese nationals in Egypt – Read more
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CRIME | FEMICIDE | FORCED MARRIAGES
TEEN GIRL KILLED BY FATHER OVER FORCED ENGAGEMENT DISPUTE
Seventeen-year-old Yasmine Ahmed was beaten to death by her father in Al-Asayed village, Sharqia Governorate, after she refused to remain in a forced engagement. The second-year Azhari student was reportedly asserting her right to make her own choices when the argument turned deadly.
Authorities detained the father, 42, and ordered a forensic examination. Investigations are ongoing.
The bigger picture: The case has ignited public anger and renewed calls for stronger protections against domestic violence and forced relationships, especially for young women. According to a 2021 CAPMAS survey, 31 percent of married Egyptian women (ages 15–49) have experienced some form of abuse by their spouse — highlighting the widespread nature of violence within families.
🏠 MORE SOCIETY:
📱 TIKTOK: It’s tick tock for TikTok after Egypt’s parliament handed the application a three-month deadline to adjust its content to Egypt’s “social and moral standards” – Know more
🏺 ANCIENT ARTIFACT: A 4,000-year-old handprint, pressed into clay by an ancient Egyptian artisan and preserved for millennia, was discovered – Know more