Egypt to Lift Subsidy on Electricity in 2025

The sun is seen behind high-voltage power lines and electricity pylons at a highway northeast of Cairo, Egypt, March 13, 2019. (Reuters)
The sun is seen behind high-voltage power lines and electricity pylons at a highway northeast of Cairo, Egypt, March 13, 2019. (Reuters)
TT
20

Egypt to Lift Subsidy on Electricity in 2025

The sun is seen behind high-voltage power lines and electricity pylons at a highway northeast of Cairo, Egypt, March 13, 2019. (Reuters)
The sun is seen behind high-voltage power lines and electricity pylons at a highway northeast of Cairo, Egypt, March 13, 2019. (Reuters)

Egypt’s Ministry of Electricity and Energy announced on Tuesday a new increase in electricity prices ranging between 17 and 26.7 percent based on consumption.

The new prices will be applied on July 1, the first day of the country’s fiscal year 2020-21.

It will raise electricity prices for homes and shops that use up to 250 KWH (kilowatt hour) per month by 4.3 percent.

“Given the current economic conditions resulting from the coronavirus outbreak and to ease the economic burdens on Egyptian citizens, the deadline for the plan to lift subsidies on electricity prices to the domestic sector has been extended to fiscal year 2024-25 instead of 2021-22,” the Ministry announced in a press statement.

The middle and lower classes in Egypt have been suffering during the past five years from a sharp hike in the prices of goods and services since the government liberalized the exchange rate in late 2016.

Over the past few years, army trucks have spread across the country to sell food products at cheap prices, which increased the police and armed forces’ sales outlets, easing hikes.

According to the statement, for those who consume between 0 and 50 KWH, the price will be 38 piasters per kilowatt instead of 30 piasters.

“From 51 to 100 KWH, the price will be 48 piasters per kilowatt instead of 40 piasters, and for consumers of between 100 and 200 KWH, the price per kilowatt will be 65 instead of 50 piasters.”

From 201 to 350 KWH, the price per kilowatt will be 96 instead of 82 piasters, and for consumers from 351 to 650 KWH, the price of kilowatt will be 128 instead of 100 piasters.

While consumers of more than 1,000 KWH, will pay the same amount, which is 145 piasters per kilowatt.

For commercial use, the Ministry decided to fix the price of those who consume up to 100 KWH per month at 65 piasters.

Consumers of up to 1,000 KWH will be charged 155 piasters, and 160 piasters for consumers of more than 1,000KWH.



Exponeur… Saudi Initiative to Connect Global Entrepreneurship Ecosystems

Exponeur is the first pavilion in the history of expo that is fully dedicated to the ecosystem of entrepreneurship, innovation, and investment (SPA) 
Exponeur is the first pavilion in the history of expo that is fully dedicated to the ecosystem of entrepreneurship, innovation, and investment (SPA) 
TT
20

Exponeur… Saudi Initiative to Connect Global Entrepreneurship Ecosystems

Exponeur is the first pavilion in the history of expo that is fully dedicated to the ecosystem of entrepreneurship, innovation, and investment (SPA) 
Exponeur is the first pavilion in the history of expo that is fully dedicated to the ecosystem of entrepreneurship, innovation, and investment (SPA) 

The Kingdom's pavilion at Expo 2025 Osaka witnessed the launch of the “Exponeur” initiative, a global Saudi initiative that aims to connect entrepreneurs, innovators, and investors through the international Expo platform, and to leverage the global gathering to empower entrepreneurship ecosystems from all around the world.
The initiative spans five years, from Expo Osaka 2025 to Expo Riyadh 2030, and works to link global challenges with opportunities for innovation through training programs, the highlighting of pioneering projects, and the creation of tangible impact to be presented at each edition of the Expo, starting with the Riyadh 2030 edition.
Exponeur aspires to become the first pavilion in the history of expo that is fully dedicated to the ecosystem of entrepreneurship, innovation, and investment, thereby enhancing the Kingdom’s global role in building a limitless entrepreneurial environment and reflecting its firm commitment to promoting international cooperation and supporting the next generation of innovators.
Among the programs and activities that the Exponeur initiative will offer is the “Exponeur Academy,” a global six-month training program that will train 150 entrepreneurs annually from more than 20 countries.

The program includes mentorship sessions, investment readiness preparation, and opportunities to present projects before venture capital funds.
It also includes the “Exponeur Competitions and Challenges,” which span five years and are organized in accordance with the theme of each expo edition.

These challenges go through regional and global stages and conclude with showcasing the top projects at the Exponeur pavilion during Expo Riyadh 2030.
In addition, the initiative includes the “Annual Exponeur Event,” which will be held in Riyadh, the host city of the upcoming expo, and will feature panel discussions, presentations, networking activities, and partnership-building efforts. The initiative also introduces the “Entrepreneurship Development Fund,” which aims to support startup projects and close the financing gap in developing countries.
This initiative is launched in partnership with the Vision Leadership Association, in cooperation with the Ministry of Investment in the Kingdom and the Global Entrepreneurship Network (GEN), and is sponsored by SBI Holdings Japan, which supported the first edition of the initiative’s programs and training activities during Expo 2025 Osaka.

In a statement to the Saudi Press Agency (SPA), Chairman of the Vision Leadership Association and Head of the Saudi Startups Group at the G20 (Startup20) Prince Fahad bin Mansour bin Nasser bin Abdulaziz said that the “Exponeur” initiative embodies the Kingdom’s role in supporting national and global economic development through building bridges between countries to promote a culture of entrepreneurship, innovation, and investment in facing global challenges.

He added that the initiative aims to empower future generations to contribute to the creation of solutions, benefit from the global gathering for knowledge exchange, bridge funding gaps, and present opportunities to stakeholders.

For his part, founder of Exponeur initiative, Mansour Al-Saanouni, said Exponeur began as an idea during Saudi Arabia’s participation in Expo 2020 Dubai.

“It stemmed from a belief in the power of entrepreneurs to present real solutions to global challenges. Today, this idea has evolved into a global initiative to empower entrepreneurs, starting from Expo Osaka 2025 and extending through to Expo Riyadh 2030,’ he said.