Shine Minerals Explores Gold Opportunities in Namibia
Southern Africa

Shine Minerals Explores Gold Opportunities in Namibia

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Sultan Haitham bin Tarik
Northern Africa

Egypt’s Trade with Oman Declines in 2024

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Botswana : Hemp Business Summit in April 2025
Southern Africa

Botswana : Hemp Business Summit in April 2025

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DRC Crisis: AU Calls for Urgent Action to End Fighting
Pan Africa

DRC Crisis: AU Calls for Urgent Action to End Fighting

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People Fleeing Goma Region Continues as M23 Makes Considerable Gains
Central Africa

People Fleeing Goma Region Continues as M23 Makes Considerable Gains

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President of Botswana Announces Groundbreaking P4,000 Living Wage Initiative by Choppies Group
Southern Africa

President of Botswana Announces Groundbreaking P4,000 Living Wage Initiative by Choppies...

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The new regulations are expected to grant private insurance funds operating under defined benefits systems more freedom to diversify their portfolios. Funds operating defined benefit pension plans can invest up to 10% of their total assets in metal-related financial instruments traded on the Egyptian Exchange (EGX). The Financial Regulatory Authority (FRA) introduced new regulations for private insurance funds to enhance their investment strategies while increasing transparency and oversight. These include new investment options and reporting requirements. The FRA has also introduced tighter restrictions on uninvested cash balances. The new regulations are expected to grant private insurance funds operating under defined benefits systems more freedom to diversify their portfolios. The decision to increase the minimum capital requirements for establishing insurance companies came in line with the deliberations and dialogue the Insurance Federation of Egypt (IFE) has conducted with the Financial Regulatory Authority (FRA) and other concerned parties, said IFE chairman Alaa El Zoheiry. Earlier this month, the FRA announced that insurance companies are required to increase their capital base to EGP600m (USD 12 million) within two years. Insurers are demanded to increase their capitalisation to EGP100m by the end of the first year. This decision enhances the strength of the solvency of insurance companies, enabling them to meet their obligations and pay claims, said El Zoheiry . He added that the capital increase will contribute to improving the credit standing of insurers, which opens the door for them to obtain international credit ratings. In addition, the decision will also help increase the retention of premiums within the Egypt insurance market, thereby reducing the leakage of foreign currency and enhancing the solvency of companies. Funds operating defined benefit pension plans can invest up to 10% of their total assets in metal-related financial instruments traded on the Egyptian Exchange (EGX). Defined benefit insurance funds are allowed to invest between 5% and 20% of their total assets in open-ended funds, as long as the investments in equity funds do not exceed 15% of the total assets of the equity fund. Additionally, up to 5% of the assets can be allocated to venture capital and private equity funds. Private insurance funds that have already exceeded the newly set investment limits will not be required to divest their holdings immediately. However, these funds will be restricted from making additional investments that would breach the new limits. Read Also: http://trendsnafrica.com/egypt-to-facilitate-development-discussions-with-government-and-private-sector-experts/ Private insurance funds have to comply with the new regulations within six months of the decision’s issuance. This move is part of the FRA’s broader initiative to regulate and enhance the performance of Egypt's non-banking financial markets.
Northern Africa

Egypt’s Insurance Agency Introduces New Provisions to Attract More Investment

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MozParks in Mozambique Lit by Solar Energy
Southern Africa

MozParks in Mozambique Lit by Solar Energy

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Egypt Establishes Committee for Supervision of Carbon Emission Reduction Units
Northern Africa

Egypt Establishes Committee for Supervision of Carbon Emission Reduction Units

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Lime Application Stressed in Zambia Along with Fertilizers to Enhance Agri Productivity
Southern Africa

Lime Application Stressed in Zambia Along with Fertilizers to Enhance Agri...

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