Good afternoon, friends, and happy hump day. We have another slow day so far here in Omm El Donia — although what started out as slow yesterday turned into a relatively brisk news cycle.
THE BIG STORY TODAY
China Energy moving forward with green hydrogen project: China Energy is expected to sign a framework agreement “soon” with the Suez Canal Economic Zone (SCZone) and the Sovereign Fund of Egypt for a USD 7 bn green hydrogen facility in Ain Sokhna, according to an SCZone statement. The company had previously signed an MoU with the government to conduct feasibility studies on establishing green hydrogen and ammonia plants, and said in March that it could work on a USD 5.1 bn green hydrogen plant.
THE BIG STORY ABROAD
The largest incursion into Russian territory since the outbreak of its war against Ukraine has been gaining traction this afternoon across the international press. The fighting in Russia’s Belgorod region began yesterday, with Russian authorities blaming Ukraine, while Ukraine has denied responsibility and claimed the attacks were led by Russian paramilitary forces called the Liberty of Russia Legion and the Russian Volunteer Corps (RVC), a Ukraine-based Russian militia looking to overthrow Putin. RVC allegedly entered the Belgorod region in Russia in an attack that has caught the Kremlin off guard. The story is getting front-page attention on the New York Times, the Wall Street Journal, Bloomberg, Reuters, CNBC, and BBC.
** CATCH UP QUICK on the top stories from today’s EnterpriseAM:
Fresh funds for Dawi: Primary care company Dawi Clinics is getting an EGP 250 mn investment led by Al Ahly Capital Holding (the National Bank of Egypt’s local investment arm) and with participation from existing investor the Egyptian American Enterprise Fund (EAEF).
A new Ezdehar fund to support struggling firms: Private equity firm Ezdehar Management will launch a EGP 1 bn local-currency fund targeting struggling medium-sized businesses in 3Q 2023.
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☀️ TOMORROW’S WEATHER- More sunshine is in store for us tomorrow, with a daytime high of 35°C that’s expected to drop to a fresh 22°C, according to our favorite weather app.
Sent a WhatsApp message with an embarrassing typo? You’re now going to have a 15-minute window to edit your messages instead of having to delete them altogether or send a follow-up correction message. The new feature has already been introduced to some users and will be rolled out to all WhatsApp users “in the coming weeks,” WhatsApp said on its official blog.
How to do it: Long-press a message you’ve sent within the 15-minute window and select the edit option from the pop-up menu, then make the edits you want. Once you’re done, the message will have an (edited) disclaimer next to the time stamp, but will not show the edit history to the person receiving the message — so if they missed the original message, nobody’s going to know what you originally wrote.
A biotechnology company is testing skin patches to curb peanut allergies in children:DBV Technologies has published stage 3 results of its research on Viaskin — a skin patch that could significantly reduce the effects of peanut anaphylaxis among toddlers — in the New England Journal of Medicine, according to a statement released earlier this month. So far, the data shows that the patch has a statistically significant effect on reducing symptoms. 1 in 50 children in the US are allergic to peanuts, compared with 1 in 200 adults, research (pdf) shows. Currently, there are no FDA-approved drugs to help manage the condition of children under the age of four, CEO of DBV Technologies Daniel Tassé said.
Research sample and methodology: The data is centered on 413 children between the ages of one and three in eight different countries. While 244 children were made to wear a patch with the equivalent of 0.01% of a peanut — or 250 micrograms of peanut protein — the remaining 118 were given a placebo patch that was placed directly onto the skin. All the children were required to wear the patch for a year while changing it daily.
Research results and goals: At the end of the experiment, 67% of the children exposed to a small dose of peanut displayed better tolerance to the food compared with only 34% of those in the placebo group. If approved by the FDA, the use of the skin patch would sufficiently reduce allergic reactions to protect toddlers from life-threatening symptoms if they accidentally ingest peanuts. Although not a treatment in itself, the patch should reduce anaphylaxis considerably.
The death of a revered wine collector triggers a race for his estate: Drops of God follows the story of a young woman who, after the death of her wine collector father, is tasked with finding and tasting rare and elusive wines known as the “Drops of God” to inherit her father’s USD multi-mn estate. The protagonist, Camille Léger (Fleur Geffrier), embarks on a whirlwind tour of the wine regions of France and beyond, where she meets fellow wine enthusiasts and faces intense competition from her father’s protégé, Issei. The series is one of two adaptations of a Japanese manga series by the same name. The original manga was written by Tadashi Agi and illustrated by Shu Okimoto, and has also been adapted into a live-action TV drama in Japan. You can catch Drops of God on Apple TV — new episodes drop every Friday.
Related
⚽ Today in the Egyptian League: Al Ahly hosts Enppi at 9:30pm as part of the league’s 29th gameweek. The Red Devils are looking to snag the full three points to bolster their position at the top of the league (53 points from 21 matches), while Enppi is trying to move up from the middle of the league and crack into the top four. Meanwhile, Aswan faces off against National Bank at 7pm, and Pharco v Smouha kicks off at 9:30pm.
Barcelona, which has already snagged the La Liga title, will play an away game against Valladolid at 11pm. The hosts are currently 18th in the league with 35 points, and a victory — regardless of the score — would help it avoid relegation, while for Barcelona the outcome of the match is immaterial.
Juventus goes from #2 to #7: The Italian football federation’s appeals court decided to deduct 10 points from Juventus over false accounting in its transfer agreements, the Guardian reports. Before the ruling, the team was second in Serie A with 69 points, but is now in seventh place with 59 points. That means it’s five points away from qualifying for the Champions League, and two points shy of qualifying for the Europa League.
Related
? OUT AND ABOUT- (all times CLT)
Take a nostalgic trip with Disconana at Clustr Eleven tonight. Listen to blasts from the past with an array of venues to choose from including l’aubergine, and new entrants Chestnut, Soto, Cascada Farida, Ouzeri Greek Bistro, and Zouni Bar. For more details on reservations visit their Clustr Eleven’s Facebook page.
The iconic Pyramids Sound and Light Show is back: The show opened at the Giza Pyramids last Thursday, with shows running again from tomorrow to this Saturday, 27 May. The show will be narrated in English starting at 8:30pm and in Spanish from 9:30pm. You can purchase your tickets here.
Get your Oriental x Western fusion fix this weekend: Listen to Joseph Tawadros, oud player extraordinaire, seven-time ARIA Awardwinner and Member of the Order of Australia for Services to Music (AM)as a collaboration between the Australian Embassy in Cairo and the AUC Tahrir Cultural Centre, this Saturday, 27 May at AUC’s Ewart Hall.
Watch a conversation turn from civil to explosive in Ebny. The production is an Egyptianized version of the acclaimed play God of Carnage by Yasmin Reza, which will be performed by the Kenoma Theatre Company between Friday, 26 May to Monday, 29 May starting from 8pm at Rawabet Art Space. The play will be performed in Arabic and tickets can be purchased on Ticketsmarche.
Zawya Cinema’s Cairo Cinema Days rolls on: The festival, which kicked off last week, showcases the latest films from the Arab region, with this year’s edition including 16 documentaries and feature films from Egypt, Tunisia, Sudan, Morocco, Iraq, Palestine, Algeria, and Lebanon. The festival runs through 10 June — you can check out the screening schedule and find more details here.
Disco Misr at Sakia: Pop and disco musical group Disco Misr is putting on two shows at Sakia Culturewheel this Wednesday and Thursday, 24-25 May. Tickets are available for the first show here, and the second here.
The annual Flower Exhibition — which is typically held at the Orman Gardens — is opening to the public at the Agricultural Museum in Dokki on Saturday, 27 May. The exhibition was originally scheduled to open last week, and will run for one month.
Dive into Egypt’s infinitely rich contemporary art world: The “Traces of Egypt” Exhibition began in late March and will continue until Thursday, 15 June, at the Grand Egyptian Museum. The exhibit is organized by Egyptian-German artist Susan Hefuna and celebrates the country’s Khayamiya tradition through 28 dresses celebrating local artisans and their craftsmanship.
You have a couple more days to enjoy this expressionist depiction of Egypt’s rural communities: Artist Omar Abdel Zaher’s latest art exhibition, Roots, is still running through this Wednesday, 24 May. The exhibition is “a sincere, impassioned exploration and meditation on the modest and down-to-earth sanctities of Egypt’s rural communities.”
Fancy a chuckle, or more? Watch Absurd & Beyond by ACT at Rawabet Art Space on Friday, 2 June and Saturday, 3 June at Rawabet Art Space starting from 8pm.
Start training for your next half marathon: The TriFactory is hosting another edition of itsMadinaty Half Marathon on Friday, 9 June at Madinaty. You can sign up for the event through the TriFactory website.
Hiba Tawaji is back with her first concert in Cairo after three years: The Lebanese singing sensation will be performing in the Cairo Opera house on Friday, 16 June starting from 8:30pm to celebrate the release of her new album, Ba’d Seneen. The performance will be conducted by Maestro Ahmed Aweida and under the supervision of Oussama El-Rahbani. Click here to reserve your tickets.
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? UNDER THE LAMPLIGHT-
The Collected Regrets of Clover is the story of Clover Brooks, whose life was altered after the shocking passing of her teacher during a storytelling session at school. Another personal tragedy one year later, throwing her life into further disarray. Since the accidents, the child’s life became centered on death, leading her to ultimately choose a career caring for people living through their final days — or hours. During the hours spent with the terminally ill and elderly, Clover learns about people’s deepest regrets, best advice, and sometimes even their confessions. But while she takes the experience of so many lives, she forgets she has her very own to live. As a death doula in New York City, Clover is capable of endless empathy, but she seems unable to extend the same compassion to herself and demotes her needs as she tends to others. That is, until her client, Claudia, has a wish — and a longing for closure — that forces the caretaker to remember how to live. Claudia’s declining health — which contrasts so sharply with her bright energy — inspires Clover to connect with others like Sylvie, her neighbor, and Sebastian, Claudia’s grandson, for what feels like the first time in forever.
OUR FOUNDER OF THE WEEK– Every Tuesday, Founder of the Week looks at how a successful member of Egypt’s startup community got their big break, asks about their experiences running a business, and gets their advice for budding entrepreneurs. Speaking to us this week is Khadiga El Mawardy (LinkedIn), founder and CEO of Foya.
My name is Khadiga El Mawardy and I’m the founder and CEO of Foya snacks, a dried fruits and vegetable brand. I studied psychology at the American University in Cairo and then did my master’s degree in Organizational and Social Psychology at the London School of Economics. After completing my master’s, I came back to Egypt and worked in various organizations, but didn’t feel like I found my true passion.
My journey to creating Foya was paved with diverse experiences and a wealth of knowledge that have shaped my understanding of the industry. With a degree in psychology and a background in nutrition, I’ve always been passionate about the link between what we eat and our overall well-being, as well as the power that making healthy choices has on transforming our lives.
I’ve personally struggled with multiple food allergies and intolerances due to stomach issues, so I found myself constantly searching for healthy snacks in Egypt — only to be left disappointed. Eventually, I decided to capitalize on my understanding of human psychology and passion for nutrition and create Foya. I wanted to create a wholesome alternative that not only caters to individuals with dietary restrictions, but also encourages everyone to embrace a healthier lifestyle.
Foya products are healthy and have no additives, preservatives, or added sugar. We rely primarily on locally sourced ingredients to support local agriculture and farmers, and also to cut down on transportation costs and promote sustainability. Foya’s current product offering includes gooseberry, mango, strawberry, broccoli, banana, pineapple, apple, kiwi, clementine, and orange.
I firmly believe that the key to transforming people’s behavior lies in providing convenience and accessibility. With Foya, I’ve strived to create a convenient and accessible way for people to make better choices as effortlessly as possible, allowing them to prioritize their health without compromising on taste or quality.
I always say that research is a form of self-discovery, and that’s precisely the story behind Foya for me. The quest to find healthy and delicious snacks that meet my needs and preferences led me to create Foya. The brand’s name itself is derived from “For You,” which is a representation of our dedication to delivering snacks that are made specifically for our customers’ tastes and requirements.
I regularly reassess and adjust our KPIs depending on market dynamics. Currently, our primary focus is on three crucial metrics: Customer retention rate, sales revenues, and inventory management efficiency. By closely monitoring customer loyalty, revenue generation, and optimizing our inventory practices, I am constantly working towards maintaining the success and sustainability of my business.
Foya’s plans for growth include expanding to new markets and increasing local market share. We’re looking at establishing local partnerships and offering innovative products that meet customer needs and preferences.
The best part of having my own business is having the freedom to call the shots, having a schedule that’s not set in stone, getting to meet all kinds of interesting people, and always learning new things about running a business — from how to market my product to managing the finances. It’s all a big learning curve, but it’s an exciting ride. I also get a deep sense of fulfillment from making a positive impact on my community.
The worst part is definitely getting swamped with all the things I have to do as a business owner, which can be really stressful. There’s also always the worry about the risks and uncertainty of running a business. And on top of all that, it can be a lonely journey sometimes, which makes everything feel a bit more intense.
My family is incredibly supportive and provides me with unwavering encouragement as I work on building my brand. Their support plays a vital role in my entrepreneurial journey — they offer assistance and motivation on a regular basis.
When I have down time, I prioritize meeting up with friends, working out, exploring different hobbies, reading, and traveling. Lately, I’ve been diving into some inspiring books, like Shoe Dog: A Memoir by the Creator of Nike and The Untethered Soul. These books have given me valuable insights and perspectives. I’ve also been an avid listener of the Huberman Lab Podcast, which explores neuroscience and how our brain’s connections with our internal organs influence our perceptions, behavior, and overall health. One of my favorite podcasts is How I Built This, which features successful entrepreneurs who share the stories behind their businesses, offering insights into their journeys.
My advice to entrepreneurs is to embrace failure as a way to grow, persevere through challenges, keep the focus squarely on the customer’s needs, seek out a mentor for guidance, and always maintain flexibility in the face of change and uncertainty.
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