Good afternoon, ladies and gentlemen, and welcome to the start of a fresh workweek and a new month — welcome back, November.
In our Made in Egypt series today, we look at who designs the clothes. Building design capacity as a homegrown brand means answering four questions the traditional fashion industry never had to address at scale: where designers come from, who runs creative direction as the brand grows, what to buy and what to build in-house, and how to hire people whose creative sensibilities match. Fufa and In Your Shoe are working through them from opposite starting points, one founder formally trained and one illustrator self-taught, and both say what’s missing is the support around them.
Elsewhere in today’s issue, we tune in to an investigative podcast from NPR, recap the weekend’s football, list what we’re watching tonight, and more.
Now, onto the news…
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Here are the stories driving the day, both at home and abroad. Administrative Capital for Urban Development (ACUD) is drafting an incentive program for real estate developers as construction costs, development expenses, and interest rates climb, a senior government source tells EnterpriseAM.
The program could include deadline extensions for serious developers that have completed a large share of construction works. Financing and the completion of construction and fit-out remain difficult given supply chain disruptions and elevated costs, the source says. The extra time would give developers room to speed up completion, rather than having the land reclaimed and re-tendered to investors, a process that would take longer and could harm unit holders’ rights. The company is also preparing to re-offer land and projects reclaimed from defaulting investors, according to our source.
^^We’ll have more on this story in tomorrow’s edition of EnterpriseAM.
☀️ TOMORROW’S WEATHER- The first few days of November are looking warmer in C-town, with temperatures tomorrow expected to hit a hot and sunny 34°C before dipping to 20°C overnight, according to our favorite weather app.
MAKING HEADLINES ABROAD-
It’s a relatively calm afternoon on the global news front, but in Europe, unrest seems to be increasing as protests spread across Germany.
Tens of thousands ofprotesters took to the streetsacross major German cities on Saturday, as youth-led protests organized by the movement “Gen Z regelt” raged against the cost of living, underfunded schools and universities, public spending cuts, environmental concerns, and plans to reintroduce mandatory military service. The demonstrations took place in Berlin, Frankfurt, Cologne, and Munich, with organizers estimating turnout at 120k nationwide.
While many demonstrations remained peaceful, clashes broke out in several cities. Police deployed water cannons and riot officers in Cologne and Hamburg after emergency workers were targeted with fireworks and other objects, while Frankfurt saw looting, smashed shop windows, and Molotov cocktails thrown at emergency personnel. Authorities reported multiple arrests and temporarily closed part of Frankfurt’s main shopping street.
Building design capacity as a homegrown brand right now means solving four operational questions the traditional fashion industry didn’t have to answer at scale. Where the designers come from, who runs creative direction as the brand grows, what to buy versus what to build in-house, and how to hire people whose creative sensibilities actually match. Two of the wave’s brands — Fufa and In Your Shoe (IYS) — are working through these questions in real time, from opposite starting points.
The talent pipeline
Neither of Egypt’s most prominent homegrown brand design leads came up through a traditional studio system. “I used to always doodle when I was younger,” Farah El Ashiry, founder of Fufa, tells EnterpriseAM. “Anytime I had a pencil and paper in front of me, I would start sketching — little dresses, tops or skirts, and some patterns from within.” She formalized the skill at the Italian Fashion Academy in 2010 at age 19. “They taught me how to sketch proper figures, how to draw gowns and make the textures look real, and how to paint the layers,” she recalls.
Amr “Shanwar” Badr (LinkedIn), head illustrator at IYS, took the opposite route. “I don’t come from a formal art background. I actually graduated in Business Administration from BUE,” he tells us. “I’m a self-taught illustrator who has developed a skill set over time on-the-job and through hands-on experience.”
Neither pathway is unusual for the wave. What connects them is that the design capacity that Egyptian homegrown brands rely on is being assembled brand-by-brand, without a shared institutional pipeline feeding into it.
Founder-ledcreative direction
At Fufa, El Ashiry still leads the initial design concept before her team takes over the finishing work. “I lead the initial design concept, and together with our team we decide on the final touches, the color combinations, and the craftsmanship,” she says. Scaling has changed how she thinks about collections. “I’m constantly thinking of new stuff, which isn’t entirely right because you need to keep what’s working alive. So I’m changing the way we’ve been releasing collections lately by focusing more on our [successes] and recreating those in a way that is in harmony with our collection.”
At IYS, creative autonomy is central to the brand’s evolution. Shortly after joining in 2020, Badr designed the entire winter collection himself — an experience that produced some of the company’s most recognizable ideas, including its mascot, Catchy. “A lot of our strongest and most memorable ideas came out of that period,” he says. “I realized that I do my best work when I’m given creative autonomy, and I think the founders recognized that too. Even as the company and departments have grown over time, I’ve still been trusted with the same level of creative freedom in the design process as I did on my first day here.”
The two brands land at similar operating models from different design approaches. Fufa’s process starts with sourcing materials — fabrics and textures shape how designs evolve. “When I’m building a new collection, what inspires me the most is sourcing good materials,” El Ashiry says. “From there, my designs start developing into ideas.” Seasonal palettes filter in, and Pinterest sits in the background: “Pinterest is every designer’s main source of inspiration, so your eye is just constantly fed with the global trends, which does, in a way, manipulate your design creation.”
IYS runs the other way. “We tend to lean more as trend-setters than trend-followers,” Badr says. “Of course, we research the market and stay aware of what’s happening in the industry, but ultimately we rely a lot on creating things that we personally find cool and interesting. Time and time again, that approach has proven to connect best with the audience.” What feeds that intuition is deliberately outside fashion. “Having a wide range of niche interests — whether it's skateboarding, gardening, BBQ culture, music, or art — naturally helps you create work that looks good without the need to chase trends.”
Build-or-buy
Both businesses use freelancers for specialized deliverables, and both keep design close to production in-house. El Ashiry draws the distinction operationally. “Certain capabilities can be learned and developed in-house, and others just need to be outsourced,” she says. “Having a good network of freelancers and building a good relationship with them is always key to getting good results without adding to your monthly payroll — sometimes all you need is one simple task which you know can be done much more efficiently by a talented freelance designer.”
But some roles have to stay in-house: “There are certain designers who need to be in the office to see the process, get ideas about the making, understand the technique, and deliver accordingly. These definitely need to be built and evolve from within,” El Ashiry adds.
At IYS, the in-house team is where the brand identity lives. “We’ve always preferred building a strong in-house creative team to maintain a consistent brand voice and creative identity,” Badr says. “Sure, we collaborate and experiment with other creatives on certain projects, but our own collections and core identity are handled in-house.”
Creative networks
Badr describes a hiring process that runs almost entirely through personal creative networks rather than formal channels. “I’ve usually recommended artists I’ve genuinely known through creative communities and shared interests rather than relying on traditional hiring channels,” he says. “One of the people I brought on board was a longtime friend I’ve known from the skateboarding scene who happens to have a solid artistic side and a wild sense of humor that perfectly fits the brand. I scheduled a meeting between them and the founders, and the rest is history.”
“Egypt has a strong and growing pool of creative and design talent. Over the years, the industry has evolved a lot, and there are many talented designers with unique approaches and strong technical abilities. The main challenge, in my opinion, isn’t necessarily finding talent — it’s finding the right fit between the creative individual and the brand’s identity, vision, and work culture. Talent on its own is important, but it also needs structure, direction, consistency, and the right environment to truly grow and create meaningful work,” Badr says.
The gap
El Ashiry names what she sees as the biggest structural gap. “Offer more business-related courses in design,” she says. “You can be an artist and have a wonderful talent but not know how to use that talent at all. My biggest struggle is not coming up with designs — it’s how to run a business based on design.”
That gap echoes what we reportedearlier in this series — the “discovery problem” Egyptian designers face in finding the manufacturing capacity that already exists in the country. Both are variants of the same infrastructure question: Egypt has the design talent and production capacity, but not the connective tissue — schools, directories, professional-services networks — that turns individual creative capability into sector-scale infrastructure.
What’s next
Both El Ashiry and Badr point to the same fix. “I’d love to see more infrastructure for creatives — more galleries, creative hubs, workshops, and events where artists and designers can connect,” Badr says. “It would be amazing if that could extend beyond Cairo and be accessible across different cities in Egypt.” Whether the aggregators and mall developers will extend that logic upstream into design and business-education infrastructure is the specific watchpoint.
Missed this morning’s edition of EnterpriseAM? Here are the top stories in a nutshell.
The Central Bank of Egypt’s Monetary Policy Committeeraised key policy rates by 100 bps on Thursday, marking its first hike since March 2024 and reversing an easing cycle that delivered 825 bps of cuts across six meetings since April 2025. The overnight deposit rate rose to 20.0% from 19.0%, the overnight lending rate to 21.0% from 20.0%, and the main operation and discount rates to 20.5% from 19.5%;
Sami Saad Holding’s ADD Propertieslined up a USD 265 mn syndicated loan to grow its Egyptian hospitality business. The centerpiece is a new Grand Hyatt hotel on the Giza Plateau overlooking the Grand Egyptian Museum and the Pyramids. The EBRD is serving as initial mandated lead arranger and bookrunner, taking the largest single facility at USD 127.5 mn;
Tactful AI islooking to raise USD 5-10 mn in a Series A roundin early 2027. Investor talks are still in an early stage, with the company receiving inbound interest but not yet actively pursuing a raise as it focuses on operations. But the company says it’s ready for any potential delays;
Thefirst Egyptian-assembled electric vehicle rolled off the production lineyesterday, as state-owned El Nasr Automotive kicked off production of the MAGE EV — the electric version of China’s Dongfeng Mage — at its Helwan plant, with local content put at 45%. The car is built by SN Automotive, the joint venture between El Nasr and Al Safy Group.
No Nile League action on the pitches tonight after Matchweek 8 wrapped up yesterday, so all eyes turn to Europe, with a blockbuster Premier League clash and major fixtures in Spain, Italy, and France.
In the Premier League, Liverpool host Arsenal at Anfield in the pick of Matchweek 9. The match takes on extra weight after Manchester City lost 1-0 to Brighton on Saturday, leaving them on 21 points, level with Arsenal. Any positive result would put the Gunners top on their own, but they haven’t scored at Anfield in their last 13 league visits, a run stretching back to September 2012. Kick-off is at 6:30pm on beIN Sports 1.
Over in La Liga, Real Madrid visit Racing Santander in Matchday 11, looking to extend their run of victories and strengthen their position in the title race. Madrid arrive in high spirits after beating Barcelona 2-1 in the Clásico, their fifth straight victory in all competitions, which lifted them to 24 points and third place. Kick-off is at 5:15pm on beIN Sports 2.
Also in La Liga tonight:
Elche vs. Valencia — 7:30pm, beIN Sports 3;
Athletic Bilbao vs. Real Sociedad — 10pm, beIN Sports 1.
MEANWHILE- In Serie A, Juventus host Napoli at the Allianz Stadium in the pick of Matchweek 10. Both sides are level on 14 points, and each is looking to improve its position in the table. Kickoff is at 9:45pm on Starzplay.
AND- In Turkey, Mohamed Salah’s Trabzonspor kicked off against Gaziantep at 3pm at Papara Park, with the match airing live on beIN Sports 1.
On our radar in the major European leagues:
Elche vs. Valencia — La Liga, 7:30pm, beIN Sports 3;
Athletic Bilbao vs. Real Sociedad — La Liga, 10pm, beIN Sports 1;
Lazio vs. Cagliari — Serie A, 4pm, Starzplay;
Lecce vs. Genoa — Serie A, 7pm, Starzplay;
Lyon vs. Angers — Ligue 1, 6:15pm, beIN Sports 5;
Paris FC vs. Monaco — Ligue 1, 6:15pm, beIN Sports 4;
Marseille vs. Toulouse — Ligue 1, 9:45pm, beIN Sports 2;
Eintracht Frankfurt vs. Hamburg — Bundesliga, 6:30pm, Shahid.
ICYMI-
At home, Al Ahly edged Modern Sport 1-0 on Thursday evening at Cairo Stadium, with Omar El Saaiy scoring the only goal with a header in the 17th minute. The three points lifted Al Ahly to 20 points in second place, four behind Pyramids, who lead on 24 points. Modern Sport stay on 13 points, with four victories, one draw and three defeats.
Across the pond, Chelsea beat Manchester United 2-0 at Stamford Bridge on Saturday in Matchweek 9 of the Premier League, moving up to fourth. Morgan Rogers put the Blues ahead early in the second half, and Cole Palmer added a penalty after Lisandro Martínez was sent off for a second yellow card in the 63rd minute.
In Spain, Barcelona thrashed Alavés 6-1 at Camp Nou in Matchday 11 of La Liga on Saturday. Raphinha and Lamine Yamal each scored twice, Fermín López and substitute Anthony Gordon added one apiece, and Mariano Díaz scored Alavés’s consolation. The victory put Barcelona back on top of La Liga with 30 points from 10 victories and one defeat.
Over in France, Paris Saint-Germain thrashed Le Havre 5-1 on Friday in Matchweek 9 of Ligue 1. Le Havre scored first through Josh Maja in the 18th minute, but PSG answered with five goals: Achraf Hakimi scored a hat-trick, with Mika Godts and Senny Mayulu each adding one. The result took PSG to 20 points at the top of the table and gave Luis Enrique his 127th victory as PSG coach in all competitions, a club record, passing Laurent Blanc’s 126.
NPR’s investigative journalism finesse shines in another podcast series that delivers top-of-the-line audio documentaries about the events and people that matter. Its latest season, Focus: We Keep Us Safe, premiered in September and zooms in on the 2020 murder of 16-year-old Antonio Mays Jr. at the height of the Black Lives Matter movement. Produced by public radio station KUOW, the season is part of the Focus series aimed at pushing against prevailing narratives in the US Pacific Northwest and American society more broadly.
What to expect: The eight-part series is hosted by KUOW’s Will James and The Seattle Times’ Sydney Brownstone. James previously hosted the series’ first and Peabody-nominated season Lost Patients. Antonio Mays Jr.’s killing remains to this day an unsolved case, and the scope of the series reflects that complexity. Across its episodes, it explores Mays’ background through interviews with his father, detailed context during the shooting, eyewitness interviews, police records, the days leading up to the incident and its aftermath, and never-before-seen evidence from that night. Each episode runs from 30 to 50 minutes and leaves few aspects of the case unexplored.
More on the case: Mays originally resided in Los Angeles and, inspired by the racial justice movement erupting across the country after George Floyd’s murder, took off to Seattle in June 2020 to join the Capitol Hill Occupied Protest, a tent encampment and autonomous protest zone, aka CHOP. Mays was fatally shot inside the zone while driving a stolen white Jeep, which some protesters claimed was self-defense. Questions remain about why Mays was there, who fired first, and why protesters have been reluctant to identify those involved. The suspects remain unidentified, but there’s a lot more that gets unpacked on the show.
What we liked: On top of a compelling subject matter, both politically and emotionally, the series delivers an immersive listening experience that draws audiences into the mystery surrounding Mays’ death. It weaves together audio from recorded videos and livestreams, and snippets of voices and interviews, to build a fuller, richer picture of the incident. The hosts’ firsthand experience of the protests adds another layer of depth and credibility to the reporting. While the first couple of episodes take a little time to get going, the pacing and storytelling remain compelling throughout, making the next episode an almost irresistible click.
The verdict: We Keep Us Safe is another unsurprising standout podcast from the NPR network, doing justice to a single story and showcasing the power of journalistic rigor and a strong investigative narrative. If you’re interested in the US political landscape, can’t resist a good mystery, or want a story rich in political nuance and human complexity, don’t hesitate to dive into this eight-part series.
The EGX30 fell 1.7% at today’s close on turnover of EGP 7.2 bn (35.2% below the 90-day average). Local investors were the sole net buyers. The index is up 16.5% YTD.
In the green: ADIB (+3.4%), AMOC (+2.2%), and Edita (+1.6%).
In the red: Palm Hills Developments (-7.0%), GB Corp (-6.9%), and Ibnsina Pharma (-4.9%).
Ramy Sabry is celebrating 20 years in music this Friday, 6 November, with a concert at New Cairo’s El Arena. The pop icon will mark two decades in the industry with a setlist of all the hits that defined his career. The show kicks off at 9pm. You can grab your tickets on TicketsMarché.