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
-
Libya Cuts Dinar by 14.7% as Oil Revenues and Spending Strain Economy
05:51
-
Egypt Says New Wells Could Lift Gas Output by 47 Million Cubic Feet a Day
05:46
-
Egypt's Leather and More Considers Rwanda Factory in Push to Expand African Footprint
05:44
-
Benin Eyes $1 Billion Bond Deal Including Debut Sukuk
05:37
-
Cameroon Coffee Prices Climb, Marketed Output Up 9.86%in 2024-25
18:37
-
CCA Bank Joins 200 Bln CFA Congo Oil Project Financing Syndicate
18:06
-
Morocco’s Woliz brings digital tools to small neighborhood retailers
17:24
-
ECCAS commissioner race puts Cameroon at a strategic crossroads
16:09
-
SNH portfolio dividends fall 22.6% in 2023 as Perenco earnings decline
16:05
-
Togo to Harmonize Climate Tools to Enhance Policy Coherence
19:30
Togolese banks provided 16.2% of WAEMU cross-border credit by September 2025 Regional cross...
Nigerian fintech Paystack launches Paystack Microfinance Bank Bank created after acquiring ...
Nigeria granted Amazon Kuiper a seven-year license starting February 2026 The move opens comp...
Tether partnered with the United Nations Office on Drugs and Crime to strengthen digital asset cyb...
Microfinance deposits in Togo increased by CFA11.9 billion, a 2.7% rise in the second quarter of 2...
Egypt said new wells could add about 47 million cubic feet of gas per day and 4,300 barrels per day of oil and condensates. The discoveries span...
Egypt-based Leather and More Company studies an industrial investment project in Rwanda’s leather sector. Rwanda operates only one tannery that...
Benin held investor meetings in London for a multi-tranche international bond that would include its first seven-year sukuk. The deal could reach...
Mali’s industrial gold production fell an estimated 22.9% in 2025 to 42.2 tonnes, marking a second consecutive annual decline. The shutdown of the...
Located at the mouth of the Senegal River, about twenty kilometers from the Atlantic Ocean, Saint-Louis Island holds a distinctive place in the country’s...
Benin considers hosting a pan-African cultural event inspired by FESMAN but plans to use a different name. Culture Minister Jean-Michel Abimbola...