Sanaddak has officially launched operations in Egypt, with branches now open in both Alexandria and Cairo. The gold-backed liquidity platform is already deploying capital and building momentum in a market that its co-funder and executive vice chairman, Hamd Alkhayat, believes is ripe with opportunity. We spoke with Alkhayat on the sidelines of the EnterpriseAM Egypt Forum 2025 to talk about Sanaddak’s growth plans, his outlook for Egypt’s economy, the future of gold prices, and why he’s betting big on Egypt’s turnaround story.

EnterpriseAM: What’s new with your company?

HK: We’ve officially launched. Sanaddak is now operating in Alexandria and Cairo across multiple locations. We’ve started deploying capital and taking people’s gold. We’re very excited about where this is going.

E: If you were to start over and build a new business in a different sector, what would it be?

HK: I wouldn’t choose another sector. I love this one. I picked Egypt as a destination because I see the size of the market and the opportunity in the country. I would do exactly the same thing, in the same place.

E: Any advice for people investing in gold?

HK: Gold is a great asset to invest in. We’re very in tune with that market and I think prices will appreciate. There could be some turbulence ahead, but it’s a great long-term asset.

E: Where do you think prices are headed by year-end?

HK: It’s tough to say, but if we break through USD 4k per ounce, we could reach USD 4.6k in short order.

E: On a personal level, which asset class do you prefer to invest in at the moment?

HK: I definitely love gold, but beyond that, any investment tied to Egyptian business is a great opportunity. Egypt is ripe for a turnaround. As you’ve heard from cabinet members today, there’s a very pro-business attitude. Anyone betting on Egypt in the short, medium, or even long term will be a winner.

E: What exchange rate are you penciling in for your 2026 budget?

HK: We’re not penciling in a specific rate, but if we stay around EGP 48–50 to the USD, that stability will help investors come in and deploy capital. It will encourage Egyptians to put their money into Egyptian businesses — and that’s what we’d love to see.

E: How do you plan to finance growth in 2026?

HK: We grow based on the amount of funding we receive and can deploy. That comes through partnerships with banks, institutions, and funds that work with us.

E: Where would you like to see interest rates normalize?

HK: We’d love to see rates much lower than they are today. A reduction of around 400 basis points would be a great push forward for the entire economy.

E: Has AI had any impact on your hiring plans?

HK: We’ve embraced AI heavily. It hasn’t necessarily changed our hiring plans, but it’s made our team much more productive. Our security systems, for example, are more advanced now thanks to AI image detection and comparison.

E: Do you plan for your hiring rate to go up in 2026?

HK: We’re a growing company, so yes, we’ll continue to expand. Hopefully, we’ll bring in people who can leverage AI just as effectively as our current team does.

E: Are you optimistic, pessimistic, or neutral about your industry’s outlook for next year, and why?

HK: We’re very optimistic. There’s about EGP 5 tn worth of gold in Egyptian hands and a significant financing gap in the country. Allowing people to unlock the value that’s been sitting in drawers for years will help expand Egypt’s economy and industry.

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