Egyptian golf federation hails historic financial turnaround

The Egyptian Golf Federation has announced a historic financial surplus of EGP 7 million generated in just seven months under President Omar Hisham Talaat's leadership. This achievement follows a comprehensive restructuring that began last November. The federation outlined plans to host international tournaments starting from the 2025/2026 season to boost sports tourism.

The Egyptian Golf Federation announced a record financial surplus of EGP 7 million during its General Assembly, achieved in just seven months under the leadership of President Omar Hisham Talaat, who assumed office last November. This milestone resulted from a sweeping organizational restructuring aimed at stabilizing finances through commercial sponsorships and partnerships with major institutions. The financial report, presented by auditor Tarek Hashish, received strong endorsement from assembly members.

Chaired by Vice President Mohamed Anwar and attended by delegates from the Ministry of Youth and Sports along with representatives from prominent clubs such as Gezira, Sporting, and Palm Hills, the meeting highlighted efforts to revive Egypt's international presence in golf. The federation detailed plans to host global tournaments from the 2025/2026 season onward, intended to promote sports tourism and offer competitive opportunities for local players. Selections for international duties will follow clear, transparent criteria to ensure fairness.

Members praised the swift progress since the board took over late last year. "There is still much more to come," Anwar stated, expressing gratitude to the clubs for their support. He reaffirmed the board's dedication to the growth and development of Egyptian golf.

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Building on its historic financial turnaround announced last month, the Egyptian Golf Federation has launched the Egypt Golf Series 2026—a 13-tournament international professional circuit from January to April with a total prize fund of $750,000. The series aims to position Egypt as a golf hub in the Middle East and Africa while boosting tourism, expecting hundreds of players from over 35 countries. Federation President Omar Hisham Talaat unveiled details at a press conference in Madinaty Golf Club, attended by Minister of Youth and Sports Ashraf Sobhy.

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The first tournament of the Egypt Golf Series 2026 kicks off this Monday, January 19, as part of the MENA Golf Tour, a premier developmental circuit for professional golf. The opening event will be held at the renowned New Giza Golf Club from January 19 to 21, marking the start of an intensive four-week swing in Egypt.

Building on recent announcements at investor forums, Egypt's Investment Minister Hassan El-Khatib told a Moody's Ratings delegation that the country aims to double annual foreign direct investment to $24 billion through structural reforms in economic, monetary, and fiscal policies.

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Egypt's economy grew over 5% in the first quarter of the current fiscal year, leading to coordination with the EU on future development grants. Planning Minister Rania Al-Mashat met EU Ambassador Angelina Eichhorst to discuss reforms and funding.

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