Back to the complete issue
Thursday, 15 September 2022

El Sisi in Qatar + the EGP 2 coin generate conversation on the airwaves

President Abdel Fattah El Sisi’s two-day trip to Qatar was the big story of the night (more on that in this morning’s news well, above), though plans for an EGP 2 coin and the collapse of Capiter also got attention.

The economic conference set to be held at the end of this month once again got coverage, though there was little in the way of new information. In an interview on Ala Mas’ouleety (watch, runtime: 4:25), Cabinet spokesman Nader Saad said that the event would last three days and that participants would discuss the final draft of the government’s state ownership document. Masaa DMC (watch, runtime: 2:07) and Al Hayah Al Youm (watch, runtime: 2:59) also covered the conference.

Startups for dummies: In a startup-focused segment inspired by the Capiter chaos, Yahduth Fi Masr’s Sherif Amer asked questions both big (what does a post-Capiter Egyptian startup scene look like?) and small (how does a startup work, exactly?). Joining the show to discuss Capiter, Eslam Darwish, founding partner of fintech fund Nclude, put the company’s collapse down to “poor governance” and said that the fact the company was able to raise USD 33 mn is a sign of optimism for Egypt’s startup scene (watch, runtime: 2:56). Meanwhile, RiseUp’s Abdelhameed Sharara was on hand to explain to the layman how startups work (watch, runtime: 2:34).

ALSO LAST NIGHT- Cabinet spokesman Nader Saad said that the government’s electricity rationing plan has saved Egypt a lot of gas, though he didn’t provide any figures (Ala Mas’ouleety | watch, runtime: 2:24).

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.