Back to the complete issue
Thursday, 20 April 2017

Al Ahram chairman quits to protest interference by regulator

Al Ahram chairman quits to protest interference by new regulator: Al Ahram Chairman Ahmed El Naggar has resigned to protest what he claimed is interference by the National Press Council in the management of the country’s newspapers, he tells Al Shorouk. According to El Naggar, the council requested that the newspapers’ managers not take any financial or managerial decisions without prior review by the council. The council accepted El Naggar’s resignation, Al Mal says, and has appointed board member Hisham Lotfy as the interim head of Al Ahram’s board of directors, council chief Karam Gabr said in a press conference, according to Al Shorouk.

Wasting no time at all, El Naggar could face a corruption probe after six members of Al Ahram’s board of directors announced they plan to file a complaint with the Prosecutor General on alleged corruption during El Naggar’s time as chairman, Al Mal reports.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.