Good afternoon, friends, we’re one day closer to the weekend. In today’s Made in Egypt series, home textiles brand Inca & Co. co-founder Mostafa Korany walks us through how the brand has grown at home over the past decade and moved 80% of production to Egypt.
On the reviews front, we tell you which local shoe brands passed the test and give you our verdict on a novel examining the darker side of the writing world and the rivalry between authors.
But first, the news…
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Here are the stories driving the day both at home and abroad. Maersk expects all of its services back through the Suez Canal by March 2027, Chief Operating Officer Rabab Boulos told Suez Canal Authority Chairman Osama Rabie yesterday, calling the canal the group’s “optimal choice,” according to the authority’s account of the meeting. Maersk’s Gemini-alliance partner Hapag-Lloyd CEO Rolf Habben Jansen expects “more or less all” of its services back through Suez in 1Q 2027, with an exception or two.
The shift is already showing in the traffic: Maersk-affiliated vessels made 276 transits in January-September 2026, up from 146 a year earlier, and their tonnage more than tripled, per SCA figures — though off the depths of the diversion, with canal-wide traffic still far below pre-diversion levels.
Egyptian ports are regaining calls too: In its latest network adjustments, Maersk said its AE11 service would call at Port Said westbound in place of Tangier and AE19 would add Damietta, with first sailings leaving Asia in mid-November.
^^ We’ll have more on this story in tomorrow’s edition of EnterpriseAM.
☀️ TOMORROW’S WEATHER- Things are looking up in C-Town as temperatures climb to a breezy 30°C tomorrow, with the low hitting a clear 20°C in the evening, according to our favorite weather app.
MAKING HEADLINES ABROAD-
In the latest Russia-Ukraine talks, Russian President Vladimir Putin hosted US Special Envoy Steve Witkoff in St. Petersburg today to discuss potential ceasefire terms in the ongoing war with Ukraine. Witkoff said Russia agreed — following a direct request from US President Donald Trump — to release 74-year-old US citizen Stephen Hubbard, who has been held captive in Russia for more than four years on charges of fighting as a mercenary in Ukraine.
On the other hand, tensions between Trump and Ukrainian President Volodymyr Zelenskyy appear to be easing as the US resumes sharing intelligence with Kyiv on Russian missile strikes following a meeting with Witkoff in Norway on Tuesday. Read more on:BBC,CNN,Reuters, andThe Guardian.
MEANWHILE- France is facing mounting fiscal pressure as the yield on its 10-year government bonds hit 5% today for the first time since 2002, reflecting growing investor concerns over the country’s public finances. The pressure stems from a divided parliament struggling to pass a budget aimed at reducing the country’s deficit and public debt. Read more on:Bloomberg,CNBC, andReuters.
IN TECH NEWS- SpaceX jumped in premarket trading today after CEO Elon Musk floated a potential Tesla merger, and the company posted better-than-expected revenue growth in 3Q, rising 161% y-o-y to USD 14.6 bn. The surge follows a string of ambitious promises from Musk, including space-based data centers, a reusable Starship rocket, and satellite internet ventures. Read more on:BloombergandCNBC.
When Mostafa Korany looked at the Egyptian home textiles market in 2012, he saw a three-way split with a missing middle. “The market was split between cheap imports from China, very expensive French or English brands, and traditional local brands,” he tells EnterpriseAM. “There was nothing in the middle — affordable yet design-led.” Inca & Co., the textiles and home furnishings brand he co-founded with Mostafa El Nahawy in 2014, has spent 10 years building that middle tier. Along the way, Inca has shifted most of its production from imported to local.
The idea started in Marylebone: Korany was completing his business degree in London, living on Marylebone High Street above the British textiles brand Designers Guild. “It made me wonder why we didn’t have an Egyptian home textiles brand that could go global,” he tells EnterpriseAM. As a side hustle while studying, he and El Nahawy started making bean bags with silk-screen print fabrics, selling them out of a friend’s garage in Cairo.
Korany returned to Egypt in 2011 after a master’s in supply chain and did six months at the family’s textile manufacturing and trading business, Korany Brothers. He calls it the worst six months of his life. He wanted to build a company driven by art and design — a different vision. “I told my father, ‘Give me six months to figure out something on my own. If it works, you support me; if not, I’ll shut up and come back,’” Korany says. He was 22. El Nahawy, in a parallel family-textile situation, joined him.
The two spent time benchmarking global brands and mapping the domestic market before landing on the middle-tier positioning. The name came from their reading of the Inca civilization in Peru, and one in which the more prints and colors a person wore, the higher their social hierarchy. “That resonated with us because we wanted a very colorful brand,” Korany says. The target consumer was defined narrowly: the creative class who appreciate art and travel.
Inca launched in a 3-by-4 sqm space inside Pop-Up Shop in Downtown Katameya in late 2014. The first physical store followed in Zamalek in 2015. Today the brand runs four stores — in Zamalek, Downtown Katameya, District 5, and Arkan — plus e-commerce operations in Egypt and the UAE that now account for roughly 25% of the business. The product mix has moved with customer demand, from an 80% fabrics weighting at launch to a 50/50 split between fabrics and furniture today. The UAE business is growing, particularly on project-based work, with Morocco flagged as the next expansion market.
The production trajectory is where the Made in Egypt wave’s structural question lands most directly. Inca began by designing in Egypt and sourcing from India, Indonesia, and Spain: India for embroidery, Indonesia for materials like olefin for outdoor use, and Spain for capabilities Egyptian manufacturers didn’t have. Post-Covid and after the successive EGP devaluations, that math changed. Today 80% of Inca’s production is local; 20% remains imported. Third-party facilities handled manufacturing until the brand opened its own boutique factory in 2024.
The reference-point moment, Korany says, was manufacturing the Dior throws distributed to attendees at the 2022 Dior men’s show at the Pyramids. “If I can manufacture a product that would pass the strict quality inspection of LVMH, I can do anything.”
The operating challenge now, he says, is finding the balance between going mass-market and staying boutique. It’s the same tension every scaling homegrown brand in the series has flagged. For Inca, the middle tier it was built to occupy is the same tier it’s now trying to occupy at scale.
We tested shoes from four Egyptian brands over the past few months — clogs, loafers, mules, heels, and lace-ups — at price points ranging from EGP 1.7k to EGP 4k. Some hit the mark; others offered lessons in what shopping local does and doesn’t cover. Our take on each below.
Zee
This homegrown shoe brand, founded in 2018, showed up on our TikTok feed enough times to convince us to buy. We ordered the suede chocolate-brown loafers, going a size up from our usual because Egyptian brands rarely run true. When the loafers arrived three days later in a cardboard box, they were too big. The website and Instagram page carry no clear exchange process; Instagram DMs returned only automated responses. We ended up going to the District 5 branch in person to resolve what should have been a simple return.
The store visit produced a swap for the Zee clogs because the loafers weren’t available in a size that fit. The clogs are a Birkenstock dupe, and an honest reviewer-wear comparison against actual Birkenstocks says Zee’s are more comfortable, thanks to a cushioned sole where Birkenstock’s classic footbed runs stiff. After two weeks of daily wear as running-errands shoes, the pair shows no visible wear and tear. The black suede picks up dust easily, which makes them a chore to clean.
Did Zee do something new? Yes, on comfort. A Birkenstock-style clog at EGP 1.9k with a softer footbed is a real product plus.
Worth it? Yes, for a comfortable everyday clog at roughly a fifth of the Birkenstock price. Not yet for anything that requires a functioning returns process.
Our track record with Egyptian-made shoes hadn’t been great, so expectations were measured. The brand’s premier collection — mainly ballet flats and loafers designed by Hana Ghazi — held up on first look: modern shapes, saturated colors (electric blue, mustard, red, green), and materials on par with international brands we regularly buy from.
We bought the Mary Jane Del Sol in red mantilla. The soft velvet upper and cushioned insole run true to size and are comfortable. After five months of frequent wear, the shoe has held its shape and looks close to new. The buttery-yellow shoe box and dust bag give the brand an understated luxury feel that lifts the whole unboxing.
Months later, we ordered a second style online: the Silent Mile Runner in havan, a slender suede-and-leather lace-up resembling a bowling shoe that is so lightweight you can barely feel it on your feet. We ordered true-to-size; in retrospect, this style needed one size bigger. The order process was straightforward, though delivery took over a week after multiple follow-ups with the shipping company.
Did Sole22 do something new? Yes. The color palette, the design flair, and the sustained wear performance across five months put Sole22 ahead of the mainstream Egyptian shoe brands. The luxury-adjacent packaging is a distinct signal.
Worth it? Yes. At an average of EGP 4k, the shoes aren’t cheap — but they’re better made and more stylish than international counterparts at the same price point.
Best for: Anyone who wants design flair and comfort in one shoe, from Gen Z to millennial buyers.
First impressions from Instagram and thewebsite: a top-tier global brand available at home, with accessible prices. The catalogue is broad — boots, heels, flats, slippers — and the order process was seamless. Customer service was attentive on Instagram DMs when we caught our own sizing mistake early and helped resolve the issue swiftly. Positioned on style and quality, Achilles competes with Mango and Zara.
We ordered the Asymmetric Strappy Stiletto with a gold disc. The mid-height heels are classic, adaptable from business casual to dressed-up occasions, and have shown no wear over moderate use. Two things stood out on unboxing, though. Glue residue on the hardware and an insole that carried a “Made in China” stamp. Every visit to the website, even months later, turned up the same slashed prices — a permanent “sale” that functions more as anchor pricing than an actual reduction.
Did Achilles do something new? Yes, on style and price accessibility for the design language. Less so on the “Made in Egypt” proposition itself, at least for this product.
Worth it? Yes, for the design and the price point, but it depends on what “Made in Egypt” means to the buyer.
Best for: Work-to-evening versatility, dressed up or down.
Price: On the website for EGP 3k, but really the price is 1.8k.
Where to buy: Online or in-store at The Yard Mall, New Cairo.
Pavo
We had a very last-minute need for footwear suitable for a conference, and Pavo came to the rescue. Our search quickly filtered to what we needed: a black slingback that could work across versatile settings. The order process was straightforward, and our shoes arrived within days.
The shoes delivered on the key test for heels: comfort over sustained wear. We wore the pair for roughly eight hours as the first wear-test, and finished the day without sore spots, rubbing, or the kind of discomfort that normally comes with breaking in a new pair of heels. The footbed is well-cushioned, and the fit was true from the first wear.
Did Pavo do something new? We think so. Comfortable heels at this price point occupy a category that’s hard to get right locally — most mid-tier heels, imported or local, require a break-in period that Pavo’s apparently doesn’t. The slingback design is a versatile silhouette that works across occasions, which the brand is pricing against mid-tier international equivalents from Zara or Aldo at comparable or lower price points.
Worth it? Yes. The comfort-on-first-wear is a very good indicator of a brand that takes customer satisfaction seriously.
Best for: Business and formal wear — any occasion that requires sustained standing or walking.
Missed this morning’s edition of EnterpriseAM? Here are the top stories in a nutshell:
Talaat Moustafa Group (TMG)signed multiple agreements with the government, with the combined investments reaching about EGP 11 tn (c. USD 206 bn). The agreements are for developing four mixed-use projects in Madinaty, Alexandria, Abu Qir, and the North Coast. President Abdel Fattah El Sisi witnessed the announcement at the Egypt 2026 Forum in the New Capital;
Egypt’s SME market issending more graduates up to the main board. Tawasoa Factoring and Future Care for Medical Industries both made the jump this year, bringing the total to a dozen companies, by our math, and the EGX is working to widen the funnel behind them. Moving up starts with paid-in capital. Once it crosses EGP 100 mn, a company can apply to transfer; once a company goes above EGP 200 mn, the move becomes mandatory;
The Oil Ministry is targeting14 new exploration wells in the Mediterraneanby the end of the fiscal year with potential reserves of up to 12 tcf of gas. The wells are part of a wider 101-well campaign with international companies, and they’re timed to line up with the first phase of a new offshore seismic survey, which starts in November. The Western Desert gets the bulk of the drilling with 67 of the 101 wells. Next come 14 offshore in the Mediterranean, nine in the Gulf of Suez, six in the Nile Delta, and five in the Eastern Desert;
The European Bank for Reconstruction and Development (EBRD) and a group of development lenders haveassembled up to USD 566 mn in debt for Nefer Minya, the 1.2 GWp solar plant with 600 MWh of battery storage in Minya that will be the largest in Egypt and Africa. The package covers about three-quarters of the project’s USD 764 mn cost, leaving the two sponsors to fund roughly USD 198 mn in equity, by our math.
Champions League nights roll on with another heavyweight Matchday 3 slate, while the Nile League heats up at home tonight.
Today’s top fixture: Bayern Munich host Arsenal at the Allianz Arena tonight at 10pm, broadcast live on beIN Sports 1. Bayern are unbeaten in their last 39 group-stage fixtures at home in the competition, while Arsenal arrive on a 14-match run of league-phase victories and have lost just once in their last 13 away games in the Champions League. Harry Kane, who scored 15 goals in previous meetings with Arsenal, leads the Bavarian attack with Michael Olise suspended.
MEANWHILE- Real Madrid host RB Leipzig at the Santiago Bernabéu, looking for a third straight Champions League victory. Kylian Mbappé, who scored 11 goals in 11 matches this season, leads the line with Rodrygo and Ferland Mendy out injured. Vinícius Júnior is set to start, as his suspension applies only to domestic competitions. Kickoff is at 10pm on beIN Sports 2.
Other Champions League fixtures on our radar tonight:
Como vs. Manchester United — 7:45pm, beIN Sports 2;
Lille vs. Galatasaray — 7:45pm, beIN Sports 3;
Inter Milan vs. Shakhtar Donetsk — 10pm, beIN Sports 3;
Real Betis vs. Feyenoord — 10pm, beIN Sports 5;
Club Brugge vs. Lens — 10pm, beIN Sports 8;
Sporting CP vs. LASK Linz — 10pm, beIN Sports 9;
Aston Villa vs. Viking FK — 10pm, beIN Sports 4.
At home
Al Ahly travel to Al Qanah in the Nile League, looking to close a five-point gap on leaders Pyramids, who moved to 21 points with a 4-1 victory over Tala’ea El Gaish on Tuesday. Kickoff is at 8pm on ON Sport.
Also in the Nile League:
Ghazl El Mahalla vs. Ittihad Alexandria — 5pm, ON Sport Plus;
Ceramica Cleopatra vs. Petrojet — 8pm, ON Sport Max.
ICYMI-
Paris Saint-Germain beat Barcelona4-2on Tuesday, handing Barcelona theirfirst defeat of the season. The reigning champions went ahead through Désiré Doué in the first half, Xavi Espart equalized for Barcelona, and Lucas Hernández restored PSG’s lead. Lamine Yamal leveled again in the 79th minute before Vitinha struck two minutes later, and Fabián Ruiz sealed the result.
PSG’s victory came at a cost. Khvicha Kvaratskhelia was forced off the pitch just before the hour mark after landing awkwardly while sprinting back to tackle Xavi Espart and has since been confirmed to have ruptured the ACL in his right knee, with surgery planned in the coming days, the club said. PSG have not given a timeline for his return, but an injury of this kind typically means at least six months out, a blow to the reigning European champions.
Elsewhere, Manchester City bounced back from last week’s defeat, with a 5-0 thrashing of AEK Athens, while Liverpool edged Villarreal 4-3 in a seven-goal thriller and Napoli beat Bodø/Glimt by the same scoreline. Atlético Madrid drew 1-1 with Stuttgart, Roma beat Slovan Bratislava 4-0, and Borussia Dortmund beat Sabah 2-1.
At home, Zamalek ground out a 1-0 away victory at Petrol Asyut on Tuesday through an Ahmed Sherif strike in the 25th minute, moving to 16 points and level with Al Ahly in third place.
What risks will a group of desperate writers take for publishing prestige? In The Ending Writes Itself by Evelyn Clarke — the combined pen name of bestselling YA authors and friends V.E. Schwab and Cat Clarke — six writers are invited on a private island to compete for a hefty cashprize and the promise of a bestselling career by writing an ending to an unfinished book. The stakes are high in this character-driven, wryly self-aware mystery thriller, with one question looming: whose ending will it be?
The plot: Six writers from different genres are invited to the opulent Scottish home of Arthur Fletch, a globally renowned bestselling author. Each is hoping to advance a career that has yet to take off, and Fletch’s invitation seems like a promising break. But after they sign mysterious NDAs, they learn the real reason for their invitation: Fletch is secretly dead, and his agents have assembled them for a 72-hour competition to finish his final, unfinished manuscript. As rivalries intensify and twists unfold, the writers race to write the ending — pun intended — in a premise that slightly reminded us of Colleen Hoover’s Verity.
What we liked — and didn’t: The novel takes a playful approach to mystery, with straightforward prose, well-drawn characters, and plenty of dialogue to keep things moving. At its heart, the story is about the struggles of writing and getting published in a fiercely competitive industry. Reflecting this, each writer on the island is clearly defined by their genre, though we felt Clarke falls into the trap of letting these labels dictate their personalities — an easy shortcut that comes at the expense of a more nuanced cast.
The characters, while given plenty of backstory, felt one-dimensional, unlikeable, and, at times, dull. While the plot keeps you guessing, the dialogue-heavy writing sometimes makes the book feel more like a screenplay than an immersive read.
The verdict: At just over 300 pages, The Ending Writes Itself offers an engrossing mystery with a fresh premise, even if its world-building occasionally falls back on clichés. Despite some juvenile characterization and lengthy introductions, it ultimately makes for an easygoing, binge-worthy thriller when you’re in the mood for some classic mystery escapism — particularly if you’re interested in a mix of suspense with a glimpse into the realities of the publishing world.
WHERE TO GET IT- You can get the e-book version on Amazon and Kobo.
The EGX30 rose 1.5% at today’s close on turnover of EGP 8.3 bn (27% below the 90-day average). Local investors were the sole net sellers. The index is up 26.4% YTD.
In the green: TMG Holding (+6.0%), Eastern Company (+4.5%), and ADIB (+3.6%).
In the red: GB Corp (-4.4%), Qalaa Holdings (-2.0%), and Beltone Holding (-1.9%).
Up for some Friday night stand-up? Comedian Alaa El Sheikh is bringing his latest show Playcrowd Volume 2 to New Cairo’s Teatro 90 this Friday, 23 October. As the name suggests, expect a show full of his signature crowd work and spontaneous live interactions with the audience. The show kicks off at 8pm, with tickets available on TicketsMarché.