Egypt, one of the world’s largest wheat importers, has moved control of strategic food imports from the General Authority for Supply Commodities (GASC) to a military-affiliated agency, Mostakbal Misr for Sustainable Development, according to a letter seen by Reuters.
GASC, a long-standing arm of the Ministry of Supply, has overseen wheat purchases to provide subsidized bread which is a staple for 70 million Egyptians. The new agency, linked to the Egyptian Air Forces, will handle all imports, combining direct purchases with international tenders—a move aimed at efficiency but causing unease among global traders.
Under President Abdel Fattah al-Sisi, military-linked firms have expanded significantly, raising concerns among foreign investors. The Egyptian government defends these companies as addressing market gaps.
The Supply Ministry assured that Mostakbal Misr has the financial capacity to meet commitments. This shift has sparked speculation about potential market impacts, with some traders awaiting clarity on future processes.
According to a report by Maghreb Intelligence more than 23,000 Algerians residing in France have had their residence permits
According to local media reports a group of Moroccan hackers known as the Moroccan Ghosts hacked into the archive of
Egyptian President Sisi spoke with Jordan's King Abdullah II on Tuesday, stressing the importance of adopting a unified
In a move that looks likely to enhance Moroccan Japanese trade relations, a recent delegation of Japanese car companies has
Sign up for the weekly newsletter and get our latest stories delivered straight to your inbox.
