Making It

October 30, 2022

How CIRA evolved into a fully vertically-integrated, multifaceted, education platform and became CIRA Education: Since its founding in 1993, Egypt’s largest listed private sector education company, CIRA Education (formerly just CIRA), weathered many storms and challenges to the sector.  Just two years ago, covid had shut down classrooms, distance learning was a thing, and foreign ownership limits had been instituted for the private sector. Most recently, the sector was slammed by the high inflation, while legacy problems remain, including a high population to classroom ratio and a fragmented regulatory environment. CIRA Education survived these changes by not just adapting, but leading on some of the sector’s milestones.

This year was no different. CIRA Education is helping proliferate liberal arts education in Upper Egypt with the launch of Badr University. It is also introducing the concept of technical universities to Egypt by breaking ground soon on Cairo Saxony university. The company is also making its foray into pre-K outside of Cairo with the launch of a pre-K school in Fayum. There’s also CIRA Talent that looks to build viable career paths for artists, dancers, musicians and athletes across the nation. And running the infrastructure for the whole operation is CIRA Services.

Then, there’s the company’s three-year, EGP 2 bn future flow bond sale — Egypt’s first — which not only made the company an innovator in finance, but gave added credibility to the argument that education is a defensive sector. 

Here to discuss all that transformation with the Enterprise Podcast is CIRA Education’s CEO Mohamed El Kalla. His love for social entrepreneurship has its roots in his student days, where his advanced studies in refugee law saw him living with nuns, and his subsequent work with the UN saw him lead programs in Darfur. During his time there, the UN had begun to see the importance of the private sector in enacting tangible change on the ground and he himself had worked on developing CSR and sustainability practices and bottom of the pyramid social engagement. He took on those lessons when he returned to the family business back in 2009, where item #1 on his agenda was instituting transparent governance. He has helmed CIRA Education’s evolution ever since. 

June 19, 2022

How ASDC is transforming Somabay to a first-home destination: When Somabay first emerged as a tourist destination over two decades ago, it had little to offer other than its gorgeous 11-km coastline with a five-and-a-half km sandy beach. Fast forward to today and developer Abu Soma Touristic Development Company (ASDC) has made Somabay a home to a wide selection of luxury hotels and residential properties that exude a certain lifestyle.

Enterprise sat down with Ibrahim El Messiri, the CEO of ASDC — the developers of Somabay — who talks us through his strategy to make Somabay a first-home destination where people and families can live, work, study, and enjoy themselves. For El Messiri, this meant finding the right target market and creating the right identity and lifestyle for Somabay.

El Messiri is no stranger to creating communities and developing cities, having worked with the likes of Bechtel for 15 years and Madinet Nasr Housing for three. His career saw him work on projects such as the Doha International Airport, the Channel Tunnel in the UK, and Abu Dhabi Port.

May 21, 2022

In this episode of The Enterprise Podcast, our What’s Next editor Gehad Hussein hosts a roundtable discussion with several AI players in Egypt. Our private sector guests gathered for an in-depth conversation on the status of the sector in Egypt and how companies can get started with their AI activities. The bottom line is to have the right talent and tools in place, while being very mindful of what data is being collected. And most importantly: start out with a pilot project, before going into massive AI mode. 

Our guests are: 

• Ahmed Abaza, the founder and CEO of Synapse Analytics, which advises other companies on how best to infuse AI into their businesses. Synapse helps enterprises develop, build, manage and scale AI solutions to optimize operations and grow more sustainably. 
• Ahmed Roshdy, the analytics and data science lead at Vodafone Egypt. He runs the 18-person strong department that’s been focusing on integrating AI into the company’s operations. Projects he’s led include an AI platform that recommends different services and packages to users. So far, over 11 mn customers have benefited from that engine.
• Mohamed Soliman, the data, AI, automation and security leader at IBM Egypt. IBM has been at the forefront of AI adoption and development globally, and Mohamed will give us some insight on what the company has been up to in Egypt. These include helping the Supply Ministry with implementing AI applications at Egypt’s grain silos. 

** Subscribe to Making it, our interview show where we talk to CEOs and business leaders in Egypt on how to build a great business.  https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance, and economics in Egypt at www.enterprise.press. 

April 14, 2022

In this episode of The Enterprise Podcast, Patrick continues his roundtable discussion with major fintech players in Egypt. This week, our private sector guests stuck around for an in-depth conversation on where the sector goes from here in terms of funding and consolidation — at home and abroad. The general consensus appears to be that while valuations in Egypt are still primed to go up, growth is expected to slow down in light of the current macro climate and historic pitfalls like the brain drain. The solution: More integration with Africa. 

But first, a refresher on our guests: 

• Karim Nour, the co-founder of Kashat — the first nano-finance company in MENA providing financial services to the un- and under-banked. 
• Omar Saleh, the CEO and co-founder of Khazna, which now offers general purpose credit; buy now, pay later (BNPL); and bill payment services.
• Aly El Shalakany, a corporate lawyer and longtime angel investor turned venture capitalist who is now the CEO of the Cairo Angels Syndicate Fund and an investor in Kashat. 
• Ashley Lewis is a partner focused on Africa with Accion Venture Lab and has been investing in financial services and social ventures across sub-Saharan Africa and Southeast Asia for over a decade. Lewis was one of the first investors at Khazna. 

** Subscribe to Making it, our interview show where we talk to CEOs and business leaders in Egypt on how to build a great business.  https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance, and economics in Egypt at www.enterprise.press.

April 8, 2022

In this episode of The Enterprise Podcast, Patrick hosts a roundtable discussion with major players in the sector to discuss what’s next for fintech. Our entrepreneurs and investors take us through the untapped potential of fintech and which industries in Egypt are most primed for change through fintech. We also get rare insights from the central bank on what regulators are working on to help expand and propel Egypt’s fintech sector to the next stage of its development, including a new law to regulate crowdfunding and peer-to-peer lending.

TAP OR CLICK HERE TO PLAY or look down to the bottom of your page for our podcast player. 

Our guests are: 

• Karim Nour, the co-founder of Kashat — the first nano-finance company in MENA providing financial services to the un- and under-banked. Karim is also the non-executive chairman of Tarek Nour Communications Group.
• Omar Saleh, the CEO and co-founder of Khazna. Omar joined us the same day his company announced a blockbuster USD 38 mn Series A round.
• Aly El Shalakany, a corporate lawyer and longtime angel investor turned venture capitalist who is now the CEO of the Cairo Angels Syndicate Fund
• Ashley Lewis, a partner focused on Africa with Accion Venture Lab and has been investing in financial services and social ventures across sub-Saharan Africa and Southeast Asia for over a decade. El Shalakany is an investor in Kashat while Lewis was one of the first investors at Khazna.
• Dr. Rasha Negm. Rasha is an assistant sub-governor of the CBE where she’s the head of fintech and innovation. Rasha is not a newcomer to fintech. A veteran of the banking industry, she led product strategy for Vodafone Cash before joining the CBE.

** Subscribe to Making it, our interview show where we talk to CEOs and business leaders in Egypt on how to build a great business.  https://bit.ly/35lugvb

** Subscribe to Enterprise, our 6am briefing on business, finance, and economics in Egypt at www.enterprise.press

December 2, 2020

In 20 years of working in private equity, Hossam Abou Moussa has seen the makings of great businesses across industries in Egypt and other emerging markets. At Actis, he is a partner in the private equity business, as well as chief operating officer of the unit. Actis is one of the leading investors in emerging markets, and currently operates roughly USD 10 bn under management. In Egypt, they have invested in some of Egypt’s biggest companies, including CIB, Edita, International Diagnostics Holding, and Fawry.

In our last episode of the season and the year, Abou Moussa outlines the three fundamental aspects investors look for in a business and how to leverage them for fundraising, as well as how to choose a business partner or investor, and when to choose private equity as an option.

** Subscribe to Making it here for free  https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories.

The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

You can learn about Actis here: https://www.act.is

November 18, 2020

Hend El Sherbini took over her mother’s testing facility MK Lab in Egypt and rebranded it to Al Mokhtabar in 2004, with the intention of providing affordable and quality testing beyond Cairo. 

16 years later, El Sherbini sits atop Integrated Diagnostics Holding, a merger of Al Mokhtabar and Al Borg. 

IDH is the first Egyptian company to list on the London Stock Exchange, and has since become a regional player with over 450 facilities across Egypt, Sudan, Nigeria and Jordan. El Sherbini speaks to the merits of institutionalizing her family business and highlights the role consolidation plays in enabling affordable healthcare.

** Subscribe to Making it here for https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories.

The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

You can check out IDH here: idhcorp.com

November 11, 2020

Ali ElFakharany got hooked on sports data as a university student, and the blog he started to analyze the Egyptian Premier League blossomed into a company in 2017. But the local market was not ready for Arqam’s services, and so Ali turned to Europe. In 2019, Arqam was acquired by UK-based Statsbomb in a share swap agreement that retained Arqam’s team and Ali leading the data product. 

Today, Arqam’s data collection center in Egypt has become an essential service to 42 European and US clubs, including teams from the English Premier League, Germany’s Bundesliga, and the MLS, providing data analytics services to every level of a sports franchise. We discuss the ups and downs of going from a local luxury to a global essential service and how owning the value chain of data collection and analysis made Arqam FC a viable investment for Statsbomb.

** Subscribe to Making it here for free https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories.

The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

You can check out Arqam FC here: arqamfc.com

November 4, 2020

Hisham Shawki and Nancy Zayed launched MagicCube in 2014 with the intention of eliminating the redundancy of hardware-based security currently used in mobile and IoT devices. The primary target of their technology is the USD 48 bn POS hardware market, a strategy that attracted investments from Visa and CIB’s VC arm CVentures. Beyond financial services, the security platform has major applications in industrial machinery, medical devices, and autonomous vehicles.

The implications on emerging markets looking to improve financial inclusion are undeniable. By removing costly barriers to entry caused by manufacturing and deployment of hardware components, the technology can help bring a greater portion of the informal economy into the system. 

Hisham and Nancy take us back to how they went from building software in Egypt to working at tech companies that arguably changed the world, and share with us their favorite stories about meeting Steve Jobs.

** Subscribe to Making it here for free https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories.

The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

You can check out MagicCube here: magiccube.co

October 28, 2020

With brick and mortar retail seeing declining growth in developed markets fueled by competition from e-commerce, Majid Al Futtaim tells a story that might look a little different in emerging markets. Malls here still see growing popularity and Majid Al Futtaim’s retail brands are household names in Egypt and the region.

Ahmed Galal Ismail led Majid Al Futtaim Ventures for 10 years prior to his current role. Today, Ismail leads Majid Al Futtaim Properties, the arm responsible for malls, hotels, communities and project management within the conglomerate. His tenure managing the fashion, cinema and entertainment arms of the business equipped him with a critical ethos – solving for experience and not function. 

** Subscribe to Making it here for free  https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories.

The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

You can check out Majid Al Futtaim here: majidalfuttaim.com

October 21, 2020

If your business sells time — yours or your team’s or both — then this week’s episode is for you. 

Lawyering is perhaps the world’s second-oldest profession — and the source of endless jokes, the vast majority of them (pleasantly?) tasteless. 

Today’s episode features a lawyer — and an awfully nice one, at that — but think of him as a stand-in for every business in the service industry, from ad agencies to engineering consultants, PR types and accountants. 

From attracting and retaining talent, to creating culture and monetization, Bahaa Alieldean discusses the similarities and universal challenges facing law firms as well as other service providers. We explore creating corporate structure and how micromanagement prevents founders from transitioning away from day-to-day operations into traditionally accepted CEO responsibilities.

Bahaa is a law professor and practising corporate lawyer specializing in capital markets, banking transactions and dispute resolution. He established his law firm ALC Alieldean, Weshahi & Partners in 2003 favoring a model of collective practice with specialization groups over the traditional office of a solo practitioner.

** Subscribe to Making it here for free https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories.

The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

You can check out Alieldean, Weshahi & Partners here: http://www.alc.law/

October 14, 2020

The majority of Egypt’s population are unbanked and have no access to financial services. Thanks to fintech players like Fawry, this is changing quickly — and for the better. When Ashraf Sabry founded Fawry in 2008, he knew he wanted to leverage his experience and technology in a business that had recurring revenue. Flash forward and, a decade later, Fawry is now a payments platform that connects over 29 mn customers through 166K service points across the country, and can be used for over 850 services ranging from utility bills and school tuition, to traffic fines and insurance.

Ashraf talked to us about building the platform from the idea stage to becoming a major listed company on the EGX with international shareholders. He told us how the company was built with local talent, the company’s early stage challenges, and what’s next for Fawry.

** Subscribe to Making it here for free: https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories.

The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

You can check out Fawry here: www.fawry.com

October 7, 2020

Zooba sells taamiya, not falafel. When Chris Khalifa launched Zooba in 2012, the goal was to elevate Egyptian street food from cheap, delicious, everyday sustenance to a global brand. By 2020, Zooba’s value proposition had already shaped a loyal following at home and abroad with branches in Egypt, a franchise agreement in the GCC, and a New York outpost — opened just before covid-19 hit. 

Chris talks to us about what it takes to change people’s perception on how much street food should cost through the power of a strong brand. We discuss introducing new food to foreign markets, teaching Westerners how to say Taamiya, and how Zooba survives economic crises.

** Subscribe to Making it here for free https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories

The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

You can check out Zooba here: www.zoobaeats.com

September 29, 2020

Making It is back for its third season. Making It is a show about building great businesses in Egypt. Each episode brings you a one-on-one sit-down with a CEO or founder at the top of their game. They are leaders at the helm of businesses going through different stages of growth and they discuss with us the issues they face, the challenges they have to overcome, and what it takes to “Make it.”

This is our second season to come out since Covid-19, and a full return to working from the office has yet to take place. The majority of our guests were recorded remotely. This season’s guests span industries ranging from food and retail to fintech and healthcare.

Season three kicks off on Thursday, 8 October, but until then, you can catch up on season two with:

• Omar Hagrass, Co-founder and CEO of Trella
• Hoda Mansour, Managing Director of SAP Egypt and Frontier Markets
• Tarek Assaad and Karim Hussein, Algebra Ventures Managing Partners
• Sahar Salama, Founder and CEO of TPay Mobile
• Amr Abouesh, CEO and Managing Director of Tanmeyah
• Laila Sedky and Adel Sedky, Founder and CEO of NOLA
• Mohamed El Kalla, CEO of Cairo for Investment and Real Estate (CIRA)

** Subscribe to Making it here for https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories.

The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

July 8, 2020

In our pilot episode, we sit down with International Cooperation Minister Rania Al Mashat to discuss a variety of different topics including her personal philosophy on economic reform, and her career trajectory from the youngest intern at the IMF to her public service at the Egyptian Central Bank, the Ministry of Tourism and her current role at the MOIC.

Al Mashat outlines the economic diplomacy responsibilities of her ministry, which coordinates bilateral, multilateral and multi stakeholder development partnerships on both public and private sector projects as part of a larger goal – implementing and financing the 17 Sustainable Development Goals (SDGs) agreed upon by UN members by 2030.

Al Mashat pushes the Global Partnership Narrative, which aims to create mass awareness on the impact of achieving the SDGs by presenting it through a lens with people at the core, projects in action, and purpose as the driver. We discuss how Covid-19 has impacted Egypt’s 2030 vision, and the subsequent fast-track of projects seen as crucial in mitigating the socioeconomic impact of the pandemic.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at enterprise.press.

** Subscribe to Making it here https://bit.ly/35lugvb.

After Hours is a working title. We welcome your suggestions for the title of the show and any suggestions for guests and topics at editorial@enterprise.press

June 24, 2020

Omar Hagrass, CEO of Trella

On this week’s episode of Making It, we remotely sit down with Omar Hagrass, the CEO and co-founder of Trella, a digital trucking marketplace. The company’s application acts as a hub for shippers and carriers, eliminating the time-consuming and inefficient manual process of using brokers. Trella is a relatively new company, raising an impressive USD 600k pre-seed round led by Algebra Ventures in 2019. They joined and graduated the Y Combinator program shortly after,  acquired their Egyptian rival Trukto to become the largest trucking marketplace in the country, before expanding to Saudi Arabia.

As the Covid-19 pandemic presented challenges and disruptions to supply chains across the world, Trella’s technology allows shippers to gain valuable insight over their resources during a time when optimization is desperately needed. Hagrass offers advice to entrepreneurs on the intricacies of disruption and growth, and details why Trella has the potential to become the country’s first unicorn.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories

The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

** Subscribe to Making it here https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.

You can check out Trella here: trella.app

June 10, 2020

Hoda Mansour, Managing Director of SAP Egypt and Frontier Markets

Hoda Mansour was twice recognized by Forbes as one of the most influential businesswomen in the Middle East for her work in SAP in the UAE, Oman, and Egypt. SAP’s Enterprise Resource Planning (ERP) software is among the most widely used across the world, at a time when the livelihood of many businesses hinges on establishing a digital presence. She details the reasons multinationals find Egypt attractive, and outlines how to prepare for the mass adoption of automation services and its impact on the workforce.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories

The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

** Subscribe to Making it here https://kite.link/making-it.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.

You can check out SAP here: www.sap.com/mena/index

June 3, 2020

Algebra Ventures Managing Partners Tarek Assaad and Karim Hussein

From a background of senior positions at multinationals, Algebra Ventures Managing Partners Tarek Assaad and Karim Hussein are driven by a belief that tech and entrepreneurship can enable tangible change in a region where basic services can often be major inconveniences. Established in 2015, Algebra Ventures is a USD 54 mn venture capital fund that invests in early stage tech startups in the MENA region. The fund is the largest of its kind in Egypt.

Assaad and Hussein outline the most important features they look for in startups, including tackling big markets and possessing a strong management team, as well as the red flags they avoid at all costs. Our host, Patrick, sat down with Assaad and Hussein in December, before Covid-19 put us all on work from home.

DISCLAIMER: Algebra Ventures Managing Partner Ziad Mokhtar could not join us for this interview.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories

The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

** Subscribe to Making it here https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.

You can check out Algebra Ventures here: algebraventures.com

May 13, 2020

Sahar Salama, Founder and CEO of TPay Mobile

In a country with low banking penetration and high mobile adoption, Sahar Salama saw a business opportunity in creating a payment solution through telecom operators. She used her experience at Link Development to create a direct operator billing model and launched TPay Mobile in 2014.

Launched in Egypt, Saudi Arabia and the UAE simultaneously, they now operate in over 18 markets across MENA covering almost 51 mn transactions a day.

The company made headlines in 2017 by making the first wholesale acquisition of a fintech company in Egypt when they acquired their primary competitors DCBEgypt. In 2018, they became the region’s first Dragon, when A15 sold its 76% stake to Helios Investment. Salama talks to our host, Patrick, about conception, the challenges of scaling, the importance of finding the right partners, and her future plans to make TPay what she considers a great business.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories

The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

** Subscribe to Making it here https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.

You can check out TPay at: tpaymobile.com

May 6, 2020

Amro Abouesh, CEO and Managing Director of Tanmeyah

Having served as Executive Advisor for Microofinance at Banque du Caire and then as head of the microfinance and SMEs division at the Bank of Alexandria, Amro Abouesh believed in private sector financing as a means to enable social mobility within the low income sector of society.

By founding Tanmeyah in 2009, Amro effectively launched private microfinance in Egypt and helped bring in Egypt’s leading private equity, commercial and investment banks. Today Tanmeyah sits at the top of the industry with over 270 branches across the country and an EGP 3.5 bn portfolio.

Abouesh walks us through the risk assessment process and his experience navigating policy and legislation to establish Tanmeyah and private microfinance.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories.

The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

** Subscribe to Making it here https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.

You can check out Tanmeyah at tanmeyah.com/en

April 29, 2020

Laila Sedky and Adel Sedky, Founder and CEO of NOLA

As Founder and CEO of one of the most recognizable brands in the confectionary business, Laila and Adel understand the business of selling happiness. Their tenure at Nola saw them grow the brand beyond the flagship store in Zamalek to a confectionary giant with 25 stores across 7 cities.

From leading the local cupcake craze to making pivotal decisions on the sustainability of their brand and the subsequent reorienting of their customers, all while dishing out fresh and exciting takes on classic Egyptian desserts, Laila and Adel are experts at marketing and operations, looking beyond trends, and separating between work and family.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories

The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

** Subscribe to Making it here https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.

You can check out NOLA’ extensive range of products on their website or instagram.

www.nolabakery.com

https://www.instagram.com/nolacupcakes

April 23, 2020

Mohamed El Kalla, CEO of Cairo for Investment and Real Estate (CIRA). 

As the head of one of the largest private sector education operators, El Kalla is someone who understands the business of education. He has seen the seismic shifts in the industry over the past few decades: from family-owned businesses to corporations, from Cairo and Alex to the other governorates, from the super wealthy to the middle class, from individual shareholders to IPOs and private equity, and from the classroom to your home. CIRA has even led the way on a number of these trends.

His tenure saw him lead the company through a successful relisting on the EGX in 2018, which fueled a massive expansion. The company has 19 K-12 schools, one university, and over 30k students under their belt. Their lineup of brands now includes Futures, Maverick schools, British Columbia schools, and Badr University, among others.

His active investment in education tech startups has kept him abreast of all the exciting new developments in e-learning and education platforms.

And this was all before covid-19, where the millenia-old tradition of the classroom was rendered archaic in a span of a few months. The impact this transformation has had on our lives cannot be understated. School children now have to act like online grad school students and parents have had to become teaching assistants. Yet despite this transformation, the transition has appeared almost seamless. Having been on the frontline of that transformation, El Kalla gave us a first hand account of how hard it was to get us here.

This is also the first podcast interview we’ve done entirely from home, making it the most appropriate episode to kick off what we hope is an exciting new season.

You can listen to the episode on: Web | Apple Podcast | Google Podcast

** Subscribe to Making it here for https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories
The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

April 15, 2020

Making It in the time of covid-19: Making It is back for its second season. Making It is a show about building great businesses in Egypt. Each episode brings you a one-on-one sit-down with a CEO or founder at the top of their game. They are leaders at the helm of businesses going through different stages of growth and they discuss with us the issues they face, the challenges they have to overcome, and what it takes to “Make it.”

This happens to be our first season where we had to record outside the studio, courtesy of covid-19. So you’ll have to forgive us if you hear any dogs barking in the background. This is a weird time for us all, and especially for businesses, so we felt it was important to get a season out during this time, dedicate a few episodes to discuss the microbial elephant in the room, in addition to giving you guys something to kill a few hours during the lockdown.

Season 2 kicks off on Thursday, 23 April — just in time for Ramadan. Our guests this season come from a myriad of backgrounds such as microfinance, cupcakes (also just in time for Ramadan), fintech, and education. In the meantime, you can listen to our season 2 trailer, where our hosts, Patrick and Hisham, chat about their lives in quarantine, explain why the season is coming out now, and give a bit of a sneak peek as to what you can expect to hear in upcoming episodes.

Patrick has also been doling out advice and thoughts on how to manage your business and teams during this unprecedented crisis in his What’s Next blog. You can read some of these here:

• What if we could start from scratch? What would we build?
• You don’t need to talk about covid-19 and your company as much as you think you do
• Your 1Q earnings: How to manage your board through covid-19
• 9 steps to build your own bailout package to see your business through covid-19

Want to catch up on season 1? You have seven days to get caught up with seven CEOs and founders:

• Lina Mowafy, cofounder of TAM Gallery
• Hani Berzi, founder of Edita
• Hazem Moussa, co-founder and CEO of Sarwa Capital
• Fatma Ghali, managing Director of Azza Fahmy
• Karim Awad, group CEO of EFG Hermes
• Karim El Sahy and Abeer El Sisi from high-profile AI startup Elves
• Jalal Abugazaleh, founder of Gourmet Egypt

** Subscribe to Making it here for https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories

The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

January 29, 2020

As we wrap up our first season of Making It, Enterprise’s very first podcast, we thought we’d reach out to everyone who lent us an ear these past few months and thank them for their constant feedback. If you have something you’d like to let us know about this season, or any recommendations for seasons to come, email us at makingit@enterprisemea.com

** Subscribe to Making it here for https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories

The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

EFG Hermes, the leading financial services corporation in frontier emerging markets helping businesses realize their full growth potential.

Links:

* Enterprise: Enterprise.press

* Inktank: Inktankcommunications.com

January 22, 2020

TAM Gallery, formerly Arts Mart, started off as an online gallery that aimed to give new artists a chance to break into the Egyptian art world. Fast forward less than a decade later, TAM has three arms each aiming to give new artists and entry into the commercial world — and to bring new potential buyers into the market. The online gallery is still going strong, but is now complimented by a physical art space in 6th of October City as well as TAM Corporate that integrates art into public spaces.

Lina Mowafy, the cofounder of TAM Gallery, started the business when, as a budding artist, she was unable to convince a gallery to exhibit her works. A comiseratory coffee with her childhood friend led the two to decide to create their own platform for displaying artwork. And so they did, launching amid the events of 2011 and creating an institution that’s transformed the country’s art scene.

** Subscribe to Making it here for https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press. 

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories

The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

EFG Hermes, the leading financial services corporation in frontier emerging markets helping businesses realize their full growth potential.

Links:

* TAM Gallery: arts-mart.com

* Enterprise: Enterprise.press

* Inktank: Inktankcommunications.com

January 16, 2020

If you’ve ever been starving in Egypt without a kitchen anywhere in sight, it’s likely that you’ve tried a snack by Edita. Since its founding in 1996, the maker of such brands as Todo, Molto, Bake Rolz and Twinkies, expanded its product offering, grown its manufacturing capacity, and has even launched a factory in Morocco. It did this during the economic storm that came with the EGP float and 2016 and the high interest rate environment that has only just begun to subside.

Today, Edita has done more than hold its own against some of the biggest global fast moving consumer goods brands. The company holds a leading market share in each of its five segments that span the Egyptian snack food market, including cakes, croissants, rusks (baked wheat), wafers, and candy.

While some of its local competitors were bought out, they launched a successful IPO back in 2015 that generated EGP 24.2 bn, emerging as one of the most successful FMCG plays of the past decade in Egypt.

Company founder and industry veteran Hani Berzi sat down with us to walk through the ups of developing and marketing new brands, the lows of struggling through a challenging microclimate and the highs of its ambitions to become an Egyptian multinational. Hani also gives us a nuanced perspective on the Egyptian food market, in his capacity as founder, chairman and CEO of the company and as the chairman of the Food Export Council.

** Subscribe to Making it here for https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories

The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

EFG Hermes, the leading financial services corporation in frontier emerging markets helping businesses realize their full growth potential.

Links:

* Edita: Edita

* Enterprise: Enterprise.press

* Inktank: Inktankcommunications.com

December 18, 2019

Hazem Moussa will forgive you if you’ve never heard of Sarwa Capital, because unless you’re a finance geek (like us), Sarwa is hardly a company whose name you’ll hear every day — even though there’s a reasonable chance Sarwa has been involved in your financial life one way or another.

They own Contact Cars (the website and the car finance business). They sell insurance, mortgages and leasing solutions— as well as white label finance for car dealers.

Oh, and they invented the notion of securitized bond offerings in Egypt.

The son of a prominent diplomat, Hazem is a former investment banker and one of three co-founders. He talked with us about raising money for the business before venture capital was a thing in Egypt. About life after going public on the EGX in a controversial IPO in 2018. And about how he resists micromanaging while still keeping his finger on the pulse of his business.

** Subscribe to Making it here for https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories

The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

EFG Hermes, the leading financial services corporation in frontier emerging markets helping businesses realize their full growth potential.

Links:

* Sarwa Capital: Sarwa.capital

* Enterprise: Enterprise.press

* Inktank: Inktankcommunications.com

December 12, 2019

After taking over the helm at Azza Fahmy back in 2006, Fatma Ghali, along with her sister Amina, built on the legacy of their mother, spearheading the expansion of the brand outside of Egypt and added a contemporary perspective to the company’s designs. They established a foothold in the European market through collaborations with leading fashion designers such as Julien MacDonald and Mathew Williamson and fashion houses such as Preen. They also popularized their brands with exhibits at the British Museum.

In today’s episode, Fatma Ghali talks to us about the challenges of taking on a 50-year legacy is branching out of its historical field of jewelry design and is moving into all aspects of design, including architecture, having designed KarmSolar’s Sahl Hasheesh campus. Azza Fahmy branded products are currently being sold in the company’s 16 stores, located in six different countries and across four continents, in addition to the most widely used online and e-commerce sites.

** Subscribe to Making it here for https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance, and economics in Egypt (also free) at www.enterprise.press.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories

The United States Agency for International Development, which has a 40-year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

EFG Hermes, the leading financial services corporation in frontier emerging markets helping businesses realize their full growth potential.

Links:

* Azza Fahmy: azzafahmy.com

* Enterprise: Enterprise.press

* Inktank: Inktankcommunications.com

December 5, 2019

Karim Awad started at EFG Hermes as an analyst and rose to become the head of EFG’s high-profile investment banking unit — a job he held until he was tapped to run the firm as Group CEO in 2013. In an industry known for its outsized egos, Karim is Scottie Pippen, the consummate team player from the 1990s Chicago Bulls.

In this week’s episode, Karim talks about the firm’s unique culture and how it helped him transform EFG into not just an Egyptian multinational, but a top-30 player in the global IPO market and a non-bank financial services powerhouse here at home.

** Subscribe to Making it here for https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories

The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

EFG Hermes, the leading financial services corporation in frontier emerging markets helping businesses realize their full growth potential.

Links:

* EFG Hermes: EFGHermes.com

* Enterprise: Enterprise.press

* Inktank: Inktankcommunications.com

November 28, 2019

Seeing the rapid growth of digital assistants, Abeer El Sisi and Karim El Sahy co-founded Elves in 2016, along with Ahmed Kassem. They looked at the deficiencies in current digital assistants and realized the human element was still needed. By efficiently connecting people with human assistants, Elves’ AI platform learns from these interactions and in turn becomes more efficient and better adept at connecting users with services.

In today’s episode, Abeer and Karim talk to us about the challenges of being a married couple with the lofty aim of creating the best AI-based digital concierge service provider there is. Today, Elves has over 650,000 users and is looking to close another seed round, after having broken Egypt’s seed funding record with USD 2 mn in 2017.

** Subscribe to Making it here for https://bit.ly/35lugvb.

** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories

The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

EFG Hermes, the leading financial services corporation in frontier emerging markets helping businesses realize their full growth potential.

Links:

* Elves: elvesapp.com

* Enterprise: Enterprise.press

* Inktank: Inktankcommunications.com

November 22, 2019

After a ten-year run leading a high-end retailer of imported food in Egypt, Jalal Abu Ghazaleh nearly fell off a cliff when the devaluation of the EGP saw prices skyrocket, inflation go through the roof — and an effective ban on imports put in place.

In today’s episode, Jalal talks with us about how he built the business from a one-desk meat importer into a retail powerhouse and an early pioneer of e-commerce — and saved his business by becoming a food manufacturer. Today, his private-equity backed business is growing nationally, looking at regional expansion and mulling prospects for an IPO sometime down the road.

** Subscribe to Making It here for free: https://bit.ly/35lugvb

** Subscribe to Enterprise, our 6am briefing on business, finance, and economics in Egypt (also free) at www.enterprise.press.

Making It is grateful for the generous support of:

CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories.

The United States Agency for International Development, which has a 40-year history of inspiring Egyptian success in partnership with the Government and people of Egypt.

EFG Hermes, the leading financial services corporation in frontier emerging markets helping businesses realize their full growth potential.

Links:

* Gourmet: GourmetEgypt.com

* Enterprise: Enterprise.press

* Inktank: Inktankcommunications.com

November 20, 2019

Enterprise is venturing into new territory with our very first podcast, Making It, and we thought it was time to take you a little more in depth. Patrick, Enterprise’s editor-in-chief and co-founder, tells our origin story, how Enterprise came to be, and how it all led to Making It.

November 17, 2019

Introducing Enterprise’s first podcast series that tackles great businesses in Egypt and the stories behind them, straight from the founders and CEOs themselves.