Banque Misr to Open Branch in Somalia

Mustafa Madbouli said in a statement on Sunday that a new branch of Banque Misr will be established in Somalia, prompting positive repercussions on the movement of trade and financial transactions between the two countries.

Madbouli said on Sunday that the volume of trade exchange between the two countries increased, especially after raising Egypt's meat imports from Somalia, following the approval of the Ministry of Agriculture.This came during a meeting with the Somali Minister of Foreign Affairs and International Cooperation Ahmed Issa Awad, in the presence of Ambassador Abu Bakr Hefny, Assistant Foreign Minister for African Affairs, as well as the Ambassador of Somalia to Egypt.

[caption id="attachment_46925" align="aligncenter" width="485"] Madbouli during a meeting wit Ahmed Issa Awad[/caption]

The Premier affirmed Egypt's support to the Somali government and to all efforts aimed at achieving development and enhancing stability in the country.

"Egypt has always been supportive for Somalia and its people," Madbouli concluded, pointing out to the country's keenness to meet the requirements of the Somali government for technical support, training, and scholarships.