Back to the complete issue
Monday, 20 March 2023

Last Night’s Talk Shows: A lot of money + foreign policy talk

Talks of money and foreign policy took over last night’s talk shows, as the nation’s talking heads covered the central bank’s upcoming meeting, how our local startups handled the fall of Silicon Valley Bank, and yesterday’s Palestine-Israel talks in Sharm El Sheikh.

What will the CBE do next? Kelma Akhira’s Lamees El Hadidi (watch, runtime: 3:09) walked her viewers through the two options for the Central Bank of Egypt’s (CBE) upcoming meeting on 30 March. The bank will either increase rates or leave them unchanged, she said, adding that both will have major consequences on the government, the former ramping up the state’s borrowing costs and the latter fuelling further inflation.

Local startups weigh in on the collapse of SVB: Kelma Akhira’s Lamees El Hadidi held a roundtable with a number of prominent startup founders, including co-founder and CEO of used-car retailer Sylndr, Omar El Defrawy; CFO of fintech startup MoneyFellows, Hatem Sabry; and Lucky co-founder and co-CEO Ayman Essawy to see how they have been impacted by the recent collapse of Silicon Valley Bank (SVB) (watch, runtime: 2:32 | 3:09 | 4:02). The collapse of SVB should teach our local startups that they shouldn’t put all their money in one bank, investor Amr Awadallah told El Hadidi (watch, runtime: 1:59). Last week, we spoke to another set of local startup founders on how they have been impacted by the bank’s downfall.

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.