Back to the complete issue
Sunday, 3 October 2021

The latest on the arrest of Juhayna’s founder, CEO

It was a quiet weekend in the foreign press, with the sole story of note being a Reuters piece reporting that “Egyptian authorities said on Thursday they had blocked a scheme aimed at financing the outlawed Muslim Brotherhood” and “alleged a link to Juhayna founder Safwan Thabet,” who remains in detention along with CEO Seif Thabet. “The Thabet family have denied any wrongdoing in statements on social media,” the story added.

ELSEWHERE- A Brookings piece by CIA analyst Bruce Riedel on how the implications of Anwar El Sadat’s assasination on the Middle East — from the creation of Hezbollah to the rise of the most wanted terrorist Ayman Al Zawahiri — are still unfolding 40 years after his death. Riedel outlines predictions he made in a paper published at that time on the prospects for succession if Sadat was killed — all of which came true.

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.