Banque du Caire funds real estate firm Inertia’s projects with $34.6 mln
Thursday, 22 August 2019 17:52
Egyptian state-owned Banque du Caire is providing real estate company Inertia EGP575 million ($34.6 million) to fund projects ongoing in the country. Monies will be granted over a year period and paid back in over 5 years.
Inertia says the resources will be used to finance construction works as well as real estate residential projects initiated in 2019. According to Tarek Fayed, MD of Banque du Caire, the real estate sector is a promising area in Egypt that can support economic growth.
The loan agreement concluded with Inertia aims to support the sector while strengthening the portfolio of real estate projects set up by this company in Egypt.
Chamberline Moko
Live News
-
Senegal, Azerbaijan sign digital cooperation deal on e-government
15:21
-
US strikes in Nigeria expose split between security goals and religious narrative
14:24
-
African Union to fund three think tank consortia through ATTP platform
13:56
-
Nigeria: U.S. Military Intervention in Sokoto, a New Test for the Country’s Financial Credibility
13:30
-
Swiss‑Belgian Company Pumps 1.3 billion Francs into WWF Cocoa Project Targeting Jobs and Forest Protection
13:12
-
Cameroon Backs AfCFTA Corridor Project as IOM Secures AfDB Funding
12:15
-
Nigeria fintech Clea eases international supplier payments for businesses
17:15
-
Morocco accelerates airport digitalization at Casablanca hub for AFCON 2025
16:12
-
Lomé Commercial Fortnight runs through January 4, 2026
15:38
-
Cameroon positions 650,000 hectares for deforestation-free cocoa under EU rules
13:48
Kenya shipped its first mango consignment to the UK on December 20 The move is part of a pilo...
Nomba brings Apple Pay to 300k Nigerian shops. Following Paystack, this "second row" move enables ...
Kenya’s CMA licensed Safaricom and Airtel Money as Intermediary Service Platform Providers (ISPPs)...
In Africa, the transformation of food systems has become an urgent issue in the face of rapid popula...
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
Dakar and Baku sign two agreements on digital transformation Cooperation targets cybersecurity, skills, startups, and e-government Partnership...
Trump says US forces hit Islamic State fighters in Sokoto state Abuja confirms strikes but rejects claims of a religiously driven...
AU selects three African think tank consortia under its ATTP funding scheme Each consortium could receive about $10 million over two and a...
NALA has secured PSP and PSO licenses from the Bank of Uganda, adding to its 2024 Money Remittance license. Backed by $40M in Series A...
Afrochella, now known as AfroFuture, is a cultural event held annually in Ghana, mainly in Accra, around the Christmas and end-of-year period. Launched in...
Algiers is a coastal capital of around four million inhabitants, located in north-central Algeria. Its urban structure, heritage, and social practices...