Learn How To Make Money From Home Using Your Smartphone In 2025
By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
AfricaNews360AfricaNews360
  • Politics
    PoliticsShow More
    Nigeria: President Tinubu inherited an economy in shambles, says Godswill Akpabio
    August 25, 2026
    Ugandan opposition leader Bobi Wine leaves the country after two months of hiding
    March 14, 2026
    Ghanaian Court annuls 2024 Parliamentary Election over irregularities
    November 24, 2025
    The future is African – Ghana President declares at UN Assembly
    September 26, 2025
    Burkina Faso to ‘street honour’ late Ghanaian President Jerry John Rawlings
    May 19, 2025
  • Business
    BusinessShow More
    Coronavirus disease 2019
    August 4, 2026
    President Bola Tinubu.
    Nigeria: FG overshoots borrowing limit as new debt reaches N12.62tn
    July 29, 2026
    South Africa’s Ramaphosa meets World Bank chief to advance new five-year partnership
    June 7, 2026
    Ghana targets major Economic Policy shift
    May 1, 2026
    President Donald Trump, left, and Chinese President Xi Jinping, right, pose for photo before their US-China summit at Gimhae international airport in Busan, South Korea, on October 30, 2025 [Mark Schiefelbein/AP Photo]
    Trump says China’s Xi Jinping agreed to accelerate purchases of US goods
    November 26, 2025
  • Showbiz
    ShowbizShow More
    Davido releases ’10 Kilo’ Music Video
    August 13, 2025
    Nigerian Star Davido’s Foundation supports 500 orphanages in annual Charity drive
    February 13, 2025
    Nigerian president Tinubu celebrates Nollywood icon Nkem Owoh ‘Osuofia’ at 70
    February 8, 2025
    Burkina Faso’s Bissa music sensation Eunice Goula drops new Banger ‘Mariage’
    September 25, 2024
    Kenya’s president hosts national music festival
    August 16, 2024
  • Sports
    SportsShow More
    NFF President Ibrahim Gusau, board members resign
    August 27, 2026
    CAF names Nader El Sayed, Abdoulaye Meite as draw assistants for Under-23 Nations Cup qualifiers
    August 25, 2026
    Moine Chaabani named Tunisia coach on four-year deal
    July 29, 2026
    Roberto Mancini reappointed Italy boss after Pirlo controversy
    July 29, 2026
    Banda stars as clinical Zambia cruise past Egypt in Group C opener
    July 29, 2026
  • Biographies
    BiographiesShow More
    Michael Gallup Bio, Age, Net Worth, Height, Parents, Siblings, Wife, Children
    July 25, 2024
  • Columns
    ColumnsShow More
    Ghana Government does not subsidize Hajj Pilgrims: Debunking the myth with facts
    March 7, 2025
    Full Speech: South African president’s address at first G20 Foreign Ministers’ meeting 2025
    February 22, 2025
    Ing. Abdullah Mohammed Billey: The Ghanaian road expert victimised for political reasons by the ousted Government
    February 3, 2025
    Ghana President Mahama’s speech at Africa Prosperity Dialogues 2025
    February 2, 2025
    An American opinion on the impending NDC Government structure
    December 17, 2024
  • Travel
    TravelShow More
    Ghana’s Tourism Minister commends Emirates at grand opening of Travel Store
    May 15, 2025
    Thousands of Ethiopian diaspora heed PM’s call to ‘come home’
    May 2, 2024
    Malawi and Ghana sign visa waiver agreement to enhance bilateral ties
    March 21, 2024
    Ghana signs visa waiver agreement with Bahamas
    February 22, 2024
    Malawi scrapes visa restrictions for 79 countries
    February 9, 2024
  • Editorial
    EditorialShow More
    FEATURE: Kigali City- A glittering jewel of Africa
    September 2, 2023
    All eyes on INEC as Nigeria decides
    February 26, 2023
    Feed Africa Summit: Continent Plans to Achieve Zero Hunger by 2030
    January 25, 2023
    Africa must speak with one voice at COP27
    November 8, 2022
    Nigerian headteacher sentenced to death after pupil’s murder
    July 28, 2022
  • World
    WorldShow More
    UK and Nigeria sign agreement to speed up deportation
    March 20, 2026
    Robert Prevost
    American prelate Robert Prevost elected New Pope
    May 9, 2025
    Rwanda cuts diplomatic ties with Belgium amid Congo conflict tensions
    March 17, 2025
    ICC issues arrest warrants for Israel’s Benjamin Netanyahu, Ibrahim Al-Masri
    November 21, 2024
    Voting underway in US as Donald Trump faces Kamala Harris for presidency
    November 5, 2024
Reading: Egyptians offered loans to buy books as inflation soars
Share
Notification Show More
Latest News
NFF President Ibrahim Gusau, board members resign
August 27, 2026
CAF names Nader El Sayed, Abdoulaye Meite as draw assistants for Under-23 Nations Cup qualifiers
August 25, 2026
Nigeria: President Tinubu inherited an economy in shambles, says Godswill Akpabio
August 25, 2026
Sapphirebet: acceso seguro a un casino en línea líder en América Latina
August 6, 2026
Olympia Casino: Quick Wins and High‑Intensity Slots for the Modern Player
August 6, 2026
Aa
AfricaNews360AfricaNews360
Aa
  • Technology
  • Science
  • Education
  • Health
Search
  • Topics
    • Business
    • Columns
    • Gossip
    • News
    • Politics
    • Showbiz
    • Fashion
    • Climate
    • World
    • Videos
Have an existing account? Sign In
Follow US
AfricaNews360 > Business > Egyptians offered loans to buy books as inflation soars
Business

Egyptians offered loans to buy books as inflation soars

Posted V January 25, 2023 3 Min Read
Updated 2023/01/25 at 7:53 AM
REUTERS
SHARE

Egyptians are used to paying for costly items such as cars or washing machines in instalments, but rocketing inflation means they can now buy books this way.

“A book has become a luxury item here in Egypt. It’s not a basic commodity like food and people are saving on luxuries,” says Mohammed El-Baaly of Sefsafa Publishing House.

He was speaking as the Cairo International Book Fair, which last year attracted two million people, opens to the public.

With book prices more than doubling, some Egyptian authors say they have cut back on characters and descriptions to be more economical in their writing.

“The cost of paper and ink has gone up tremendously,” Mr El-Baaly says. “The cost of a tonne of paper is now nearly four times higher than at the start of the year!”

He says he has turned to printing books overseas and is producing fewer copies, as he expects falling demand.

RECOMMENDED FOR YOU  Ecobank Ghana and Ghana Post sign MoU to drive government’s financial inclusion agenda

It was the fear of a drop in numbers of shoppers at this year’s book fair – the oldest and largest of its kind in the Arab world and a major event for the publishing industry – which led to the idea of paying in instalments.

The Egyptian Publishers Association says customers can now choose to take up to nine months to buy a book, paying 1.5% interest.

Author Dina Afifi, who writes popular fiction for teens, is hoping the scheme will boost flagging sales. She says the appearance of her latest book about pharaohs was changed to lower the cost of production.

RECOMMENDED FOR YOU  Tanzania: Oryx Gas Begin Nationwide LPG Domestic Safe Use Campaign

“My book’s been downsized, slimmed down to just 60 pages from around 100, because of the rising printing costs,” she told the BBC.

Some Egyptian novelists have described ways they have stripped back their writing to produce shorter books – simplifying storylines by introducing fewer minor characters and limiting the amount of description.

They complain that more Egyptian readers are now buying counterfeit copies of books of low quality. These are sold at stalls on the streets for prices ranging between 50 and 100 Egyptian pounds ($1.67-3.35; £1.36-2.70).

RECOMMENDED FOR YOU  Nigerian government launches probe into death of afrobeats star MohBad

In recent months, accelerating inflation has slashed the spending power of Egyptians who had already endured years of austerity and recurring economic shocks.

Egypt – which relies heavily on foreign imports – has suffered from a currency crisis. After successive devaluations, money is worth half of what it was a year ago.

The government says it is doing what it can to bring down prices and blames the strain on external factors linked to the war in Ukraine.

One Egyptian poet said it was unsurprising that this year, ordinary people were more worried about putting food on the table than buying books, which would nourish their minds.

RSS EDITORS’ SUGGESTIONS

TAGGED: Books, Egypt, Featured, inflation, loans
SOURCES: BBC
V January 25, 2023
Share this Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Telegram Email Print
Previous Article South Africa urges caution amid deadly heatwave
Next Article Nigerian artist Tems makes history with Oscar nomination

Latest on AfricaNews360

  • NFF President Ibrahim Gusau, board members resign
  • CAF names Nader El Sayed, Abdoulaye Meite as draw assistants for Under-23 Nations Cup qualifiers
  • Nigeria: President Tinubu inherited an economy in shambles, says Godswill Akpabio
  • Sapphirebet: acceso seguro a un casino en línea líder en América Latina
  • Olympia Casino: Quick Wins and High‑Intensity Slots for the Modern Player

More recommendations for you

  • Gatlin O’Donkor continues impressive League One form with goal against Burton
  • Black Maidens depart for Côte d’Ivoire to defend WAFU B U17 Girls Cup title
  • Nations FC bow out of CAF Confederation Cup after draw with FC Diarra
  • GPL: Young Apostles secure first Premier League win with narrow victory over Holy Stars
  • Ghana Premier League: Karela United fight back to beat Bechem United and claim first win

You Might Also Like

Coronavirus disease 2019

August 4, 2026
President Bola Tinubu.
BusinessTop Stories

Nigeria: FG overshoots borrowing limit as new debt reaches N12.62tn

July 29, 2026
SoccerTop Stories

Banda stars as clinical Zambia cruise past Egypt in Group C opener

July 29, 2026
SoccerTop Stories

Pharaohs reach last 32 for first time as VAR denies Iran dramatic winner

June 27, 2026
  • Bereavement
  • Debt Management
  • Finance
  • Job Creation
  • Small Business
  • Climate
  • Education
  • Fashion
  • Health
  • Rights
  • Science
  • Sanitation
  • Mobilisation
  • Secondary Education
  • Celebrity News
  • Tertiary Education
  • Culture
  • Security
  • Corruption
  • Creed
  • Athletics
  • Basketball
  • Boxing
  • Formula 1
  • Rugby
  • Soccer
  • Tennis
  • Minning
  • Gaming
  • Technology
AfricaNews360AfricaNews360
Follow US

© 2024 - AfricaNews360 | All rights reserved.

  • About
  • Advertise with us
  • Contact

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?