Back to the complete issue
Tuesday, 18 May 2021

MNHD CEO Ahmed El Hitamy resigns

Madinet Nasr Housing and Development CEO Ahmed El Hitamy (LinkedIn) has resigned to join his family business, the company said in a disclosure to the EGX (pdf). El Hitamy, who joined MNHD in 2016, has also stepped down from the board but will remain a consultant to the developer until the end of the year. Chairman Hazem Barakat (LinkedIn) will step in as the acting CEO until a successor is appointed, the company said.

GEM has a board of trustees: President Abdel Fattah El Sisi has named Japanese Deputy Prime Minister Taro Aso, Kyoto National Museum Director Johei Sasaki, Saudi Space Commission Chairman Prince Sultan bin Salman bin Abdulaziz Al-Saud, the director of New York’s Metropolitan Museum, and the secretary-general of the World Tourism Organization to the Grand Egyptian Museum’s Board of Trustees, according to Hapi Journal. The board, which will be headed by the president, will also include the tourism and antiquities, culture, and finance ministers, along with the director of Bibliotheca Alexandrina, Zahi Hawass, former Culture Minister Farouk Hosny, former Central Bank of Egypt governors Hisham Okasha and Farouk El Okdah, Mansour Group Chairman Mohamed Mansour, and TV host Sherif Amer.

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 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; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.