RIYADH: Egyptian exports to Poland surged in 2021 compared to the previous year, while France has agreed a strategy with the North African country to increase economic cooperation.
On the local front, Egyptian farmers have delivered a significant amount of wheat in line with the Ministry of Supply and Internal Trade’s directives.
Meanwhile, Cairo Angels Syndicate Fund has announced investment in South African fintech startup Finclusion Group.
In depth
· Egyptian exports to Poland surged 65.8 percent to reach around $204.5 million during 2021 when compared to a year ago, local newspaper Egypt Today reported, citing the Central Agency for Public Mobilization and Statistics. This comes as the African country is keen on developing economic, trade, and investment relations with the European country at the bilateral and multinational levels, local newspaper Youm 7 reported.
· The Ministry of International Cooperation and the French Development Agency have launched a strategy to boost economic ties, local newspaper Youm 7 reported. Titled “For shared prosperity,” the strategy falls in line with the framework of the close bilateral cooperation and economic relations between both countries.
· Egyptian farmers have delivered as much as 3.3 million tons of wheat to the state up until Tuesday, local newspaper Egypt Today reported, citing the Minister of Supply and Internal Trade Ali El Moselhi. This comes as the ministry has allocated up to 36 billion Egyptian pounds ($1.93 billion) to procure an estimated 6 million tons of wheat from local farmers during the April harvest season.
· Egypt’s first formal angel investment network the Cairo Angels Syndicate Fund has announced that it will invest in South African fintech startup Finclusion Group. The investment poses as the micro venture capital fund’s second investment outside Egypt and is set to bolster the startup’s position regarding potential geographic expansion, Wamda reported, citing Timothy Nuy, co-founder and co-CEO of Finclusion Group.
