The Financial Times is back to its semi-regular bashing of the new administrative capital. This time around, the salmon-colored paper picks up on arguments that the project would effectively allow the government to wash its hands of Cairo and development there. “What will happen to Cairo after the exodus? It will be sidelined,” says Mai Al Ibrashy, an architect who heads Megawra, a heritage preservation NGO. The piece also looks into the Armed Forces’ expanded role in the project, which says is indicative of the army’s ever-expanding role in the economy.
More from Enterprise
The National Bank of Egypt and Banque Misr just hiked rates on CDs — moves that could see the EGP gain against the USD
NBE and BM both hiked rates on CDs by 125…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Here’s why “temporary listings” are all the rage right now
The government plans to list Misr Travel and Egoth in…
Kiwe gets Central Bank green light to launch nationwide
The startup is backed by our friends at EFG Hermes,…