Egypt and Russia explore new logistics corridor linking Red Sea, Mediterranean, and Black Sea
via Egypt Today1 min read
Egypt and Russia are discussing a new cross-regional logistics corridor to connect their maritime networks and boost trade. The initiative was deliberated during a meeting between Egypt’s Transport Minister Kamel El-Wazir and Nikolai Patrushev, a senior aide to President Vladimir Putin, along with Russian transport and shipping executives. The proposed project involves developing two container terminals at Egyptian ports on the Red Sea and the Mediterranean, supported by industrial zones and logistics hubs. This corridor would feature a dedicated maritime route connecting Egyptian ports with Russian ports on the Black Sea, with potential extension to northern shipping routes, aiming to reduce transit times and enhance goods movement efficiency. Both nations are also considering expanded cooperation in shipbuilding and maritime manufacturing, with Russian companies showing interest in establishing shipyards in Egypt, producing marine equipment, and developing electric river vessels. Discussions also included technical training and skills development, potentially involving Russian universities. Officials agreed to hold follow-up technical meetings to define an implementation roadmap focusing on port infrastructure, shipping lines, and industrial cooperation. This corridor aligns with Egypt’s strategy to strengthen its role as a regional logistics hub through investments in transport infrastructure.
Free daily or weekly digest of the most important stories from across 18 African countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by Egypt Today.
Egyptian President Abdel Fattah El-Sisi received a phone call from Japanese Prime Minister Sanae Takaichi on Tuesday. President El-Sisi congratulated Prime Minister Takaichi on the Liberal Democratic Party's victory in the February 2026 general elections, highlighting Egypt's appreciation for its strategic partnership with Japan. Prime Minister Takaichi expressed her commitment to strengthening this partnership and noted Japan's developmental role in Egyptian national projects. The leaders discussed bilateral relations, with President El-Sisi emphasizing cooperation in education, particularly the expansion of the Egyptian-Japanese Schools project, and Japan's contribution to projects like the Grand Egyptian Museum. President El-Sisi also expressed his hope to welcome the Japanese Prime Minister to Egypt soon to enhance cooperation, investments, and Japanese tourism. The call also covered regional issues, including the Iranian crisis, with both sides agreeing on the need for a peaceful settlement to prevent escalation and negative impacts on the global economy. President El-Sisi reiterated Egypt's support for the security of Gulf States, Iraq, and Jordan, and its efforts in the Gaza Strip ceasefire and humanitarian aid delivery. Prime Minister Takaichi acknowledged Egypt's pivotal role in regional security and stability and affirmed Japan's commitment to political consultation with Egypt on regional and international developments.
A cooperation protocol was signed in Cairo on April 28, 2026, to implement a financial literacy curriculum for secondary school students in Egypt. This initiative, a collaboration between the Ministry of Education, the Japanese organization SPRICS, and Hiroshima University, aims to promote non-banking financial inclusion and empower students with practical economic skills. Minister of Education and Technical Education, Mohamed Abdel Latif, stated that the goal is to build real capabilities in young people for active participation in the economy. The Financial Regulatory Authority will provide technical support, and the Financial Literacy course will be taught to second-year secondary school students via a programming and artificial intelligence platform. Students who pass the exam will receive a trading account on the stock exchange with 500 Egyptian pounds for trading purposes, offering practical training. The course will be a non-core activity taught online using AI technologies, without passing or failing grades, starting next academic year. Outstanding students will also have the opportunity to open virtual investment portfolios in cooperation with the Financial Regulatory Authority. Secondary school teachers will be trained on the curriculum to ensure effective delivery. The signing ceremony was attended by Mohamed Abdel Latif, Minister of Education and Technical Education; Ahmed Kouchouk, Minister of Finance; Dr. Mohamed Farid Saleh, Minister of Investment and Foreign T
Egypt's Central Bank is set to launch a new financial inclusion strategy for 2026-2030 by mid-year, aiming to further expand access to banking services and increase financing for small and medium-sized enterprises SMEs. Sherif Lokman, Deputy Governor for Financial Inclusion, stated that the new strategy will build on previous successes in financial access and business growth. He emphasized that SME and microenterprise financing remains a key focus due to its role in economic growth, employment, and productivity. Total SME lending in the banking sector has reached approximately LE 630 billion, with about LE 315 billion linked to companies that have grown into larger enterprises. Bank financing for SMEs and microenterprises saw a 390 percent increase between December 2015 and December 2025. Over the last five years, SME lending grew by 71 percent, microenterprise financing by 112 percent, small enterprises by 85 percent, and medium enterprises by 36 percent. Microfinance also experienced significant growth, reaching around LE 107 billion by the end of 2025, up from about LE 6 billion several years prior, with the number of beneficiaries rising to approximately 5 million clients. Egypt's financial inclusion rate has increased to 77.6 percent of citizens aged 15 and above, totaling about 55 million people out of 70.5 million, a substantial rise from fewer than 15 million in 2015.
Egypt's Minister of Industry, Khaled Hashem, has appointed Mohamed Samy as Assistant Minister for Strategic Affairs and Mohamed Zada as Assistant Minister for Strategic Industries. These appointments are part of an effort to enhance policy execution and industrial expansion, aligning with Egypt’s long-term economic goals, especially in high-impact and capital-intensive sectors. Samy, with a background in engineering and project management from firms like Halliburton and Dar Al-Handasah, will focus on policy design, inter-sector coordination, and project implementation efficiency. Zada, who has over 20 years of experience in heavy industry including leadership roles at Lafarge and Egyptian Steel, will advance Egypt’s strategic industries agenda in areas such as metals, construction materials, and heavy manufacturing. The appointments underscore the government's strategy to integrate technical expertise with executive leadership to modernize industry and attract investment.