Mental health TikTok

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WHAT WE’RE TRACKING TONIGHT

THIS EVENING: Ezdehar Management snaps majority stake in SETA Textiles

Good afternoon ladies and gentlemen to this chilly Tuesday afternoon. It’s another relatively calm start to the day so far here in Omm El Donia.

** EnterprisePM is off tomorrow: We’re going to be taking a publication break tomorrow to have some time for some team-building here at Enterprise HQ, but will be back in your inboxes on Thursday afternoon.

THE BIG STORY TODAY

Ezdehar acquires majority stake in SETA Textiles: Egypt-based private equity firm Ezdehar Management has purchased a majority stake in clothing company SETA Textiles, as part of Ezdehar’s expansion plan for 2024, the companies announced in a joint press release (pdf). The transaction will see Ezdehar acquiring an 80% stake in SETA, Asharq Business quotes founder Emad Barsoum as saying.

The acquisition includes a primary capital investment in SETA Textiles, aiding the retail apparel company’s plans to expand both in Egypt and overseas, the statement read. Ezdehar has plans to invest some USD 70 mn in 2024, Barsoum said.

THE BIG STORY ABROAD

Leading the conversation in the international press is the appointment of France’s youngest prime minister, Gabriel Attal. Currently the education minister, Attal will replace Elisabeth Borne. The Macron and Borne regime was on the rocks throughout 2023 after making a move to raise the retirement age in France and struggled to pass their immigration bill. With his disapproval rate at a high 68%, President Emmanuel Macron’s move to appoint Attal, the most popular minister in cabinet, will be a strategic move ahead of the European Parliament elections in June. (Reuters | CNBC)

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

Secured loans are getting pricier: The Central Bank of Egypt (CBE) has instructed all banks to charge a minimum interest rate of 24% on secured loans.
Fintech startups can now obtain a temporary, two-year license to provide non-bank financial services if they have at least EGP 15 mn in issued and paid-up capital following a new decision issued by the Financial Regulatory Authority (FRA) yesterday.
Cosco puts Israel on the red list: Container shipping giant China Cosco Shipping Corp — the fourth largest in the world — has suspended shipping to Israel as Yemen’s armed Houthi group continued to attack vessels crossing the Red Sea.

HELP GAZA-

Want to support relief efforts in Gaza, but don’t know how? We’ve got you. More than 1 mn people in Gaza have been thrown from their homes and every human being there lacks access to food, water, and fuel amid the most intense bombardment any population has endured this century.

The folks at Talabat are processing donations for a range of Gaza relief appeals by charities including the Egyptian Food Bank and Misr El Kheir. Pay in EGP using your credit card.

Or check out our list of charities to which you can make direct donations via bank deposit and / or Fawry.

?️ TOMORROW’S WEATHER- Expect a sunny day tomorrow with some patches of clouds in the afternoon along with a high of 20°C dropping down to a low of 14°C later in the evening, according to our favorite weather app.

Oppenheimer + Succession lead at the Golden Globes. PLUS: TikTok x Harvard for mental health

The Barbenheimer battle is officially settled… or is it? There were a few surprises at the 81st Golden Globes on Sunday evening but Oppenheimer reigned supreme, taking home five awards (and beating out Killers of the Flower Moon for Best Picture) while Barbie lagged with only two in the lesser categories (Best Song and Cinematic and Box Office Achievement Prize) despite raking in more in the box office, and having the second most nominations in history, and the most for this year’s awards. Ultimately, the jury’s still out on the standoff until the Oscars take place in March.

Killers of the Flower Moon didn’t do as well as expected. It looked like the highly-praised Scorsese picture was on track to miss out on all seven of its nominations but Lily Gladstone managed to, rightfully, snag the Actress category (drama) and saved the team from tying for the most losses in Golden Globes history. For a second it seemed like Sandra Hüller might nab it for Anatomy of a Fall, but Gladstone’s heartfelt speech about being the first Indigenous person to win the award and what that means for her community could put her on track for the Oscars in two months.

Succession, The Bear, and Beef were the main contenders in the television category of the Golden Globes: Succession took the lead with four wins including Best Drama Series, Best Leading Actress in a TV Drama to Sarah Snook, and Best Leading Actor in a TV Drama awarded to Kieran Culkin. The Bear grabbed three prizes — surprisingly beating out Ted Lasso and Abbott Elementary for best comedy. While Beef ended up with the Best-limited Series and two acting prizes.

The usual suspects dominated the movie awards. Yorgos Lanthimos’ Poor Things, starring Emma Stone, went home with two awards including Best Motion Picture, Musical, or Comedy. The Holdovers tugged on everyone’s heartstrings and walked away with three awards while Anatomy of a Fall beat out Barbie and Oppenheimer for Best Screenplay.

Get the rest of the scoop from Variety,BBC, andThe Guardian.

Researchers at Harvard are studying how introducing evidence-based material to content on Tiktok can have a positive impact on users’ mental health, and increase the reach of this type of content, reports NPR.Their yet-to-be-published study is designed to determine whether influencers on the platform can use their large audiences to have a positive impact on those who consume their content.

Help me help you: The process began by selecting 62 mental health TikTok content creators, providing them with some Harvard or Harvard-affiliated training material, and offering training sessions with the researchers. They focused on issues such as the “mind-body connection, intergenerational trauma, and mental health inequities” with each of them presenting the theme in their unique style.

The researchers banked on the TikTokers’ ready audience to spread their message, says lead researcher Amanda Yarnell. With more young people searching for #mentalhealthon the platform they theorized that rather than be a source of depression and suicidal thoughts among the youth, TikTok can be used for users’ benefit.

The outcome:800k more views were reported by the content creators after they began using the Harvard-provided material in their posts over four months, starting from January-April 2023.

Fool Me Once is a thriller drama that will glue you to your sofa

? ON THE TUBE TONIGHT-
(all times CLT)

Fool Me Once is adapted from Harlan Coben’s book with the same title, this eight-episode thriller joins a roster of murder mysteries floating around Netflix.

Once upon a time, there was a woman called Maya (Michelle Keegan), whose husband Joe (Richard Armitage) is shot but strangely reappears. Of all places, on her daughter’s nanny cam — thank you technology. Which sets Maya (and us) out on an investigative frenzy to find out the truth.

The storyline was a US-based show but Coben believes that the show served the book justice by making it a full-fledged UK production — which follows other Coben TV series like Safe, The Stranger, and Stay Close.

While the performances are “thrilling,” the cast might not be that familiar. Richard Armitage is known for his role in The Hobbit Series and Adeel Akhtar in Murder Mystery. The rest of the cast is known mostly in the UK.

There are mixed feelings about the show. One news outlet called the show a “ background binge-watch ” while many audience members have praised the show and other news outlets called it “ highly bingeable.” Even Coben said, “ If you don’t like twists and turns, I’m not your guy.”

WHERE TO WATCH IT- You can watch Fool Me Once on Netflix.

Practice your knitting and needling skills at a crochet workshop at the Monalisa ArtStudio. This three-hour course will teach you all the fundamentals from basic stitching shapes to making scarves. The course will be taking place every Saturday and Wednesday until Wednesday, 28 February from 1-4pm. Check out their Facebook page for more information.

Get ready, aspiring photographers: The Fujifilm festival starts on Thursday, 1 February, and ends on Sunday, 4 February. You’ll have four full days of activities, meetups, and talks, as well as a photography contest and an exhibition that you can partake in. You can bring your camera along to get a gratuitous CMOS and lens cleaning and check out the GFX 100 ii Studio on-site. Fujifilm X-Photographers and creators will be there too — don’t miss out on the networking potential. Check out their Facebook page for more information.

BOOKS-

The Cairo International Book Fair is starting on Wednesday, 24 January until Tuesday, 6 February. The event will be open to the general public on 25 January from 10am to 2pm, except Friday and Saturday, when their doors will close at 9pm. The fair will be in the Egyptian Center for Fairs and Conferences in the Fifth Settlement, New Cairo.

FILM-

For fans of Egyptian film nostalgia: watch the screening of Egyptian short film Ahl El Fan at Qahrawya studio which reminisces on the golden age of Egyptian cinema and the unforgettable cinematic masterpieces that were produced. The screening will be followed by a Q&A session with Hassan El Geretly, founder of the Wersha Theatre Troupe and actor in the film. The film will be showcased for one day only this Thursday, 11 January from 8pm. Get your tickets here.

The Panorama Film Festival is back. Zawya’s collaboration with the European Union in Egypt and EUNIC Egypt is running from Thursday, 11 January to Saturday, 20 January. Instead of only showing at Zawya, the films will be screened in Cima Arkan and Point90 as well. You can find the schedule as well as other important information here.

Director Marwan Hamed will be joining Mahmoud Saad in an interview live on stage at the Falaki Theatre in Tahrir on Saturday, 13 January. Mohamed Mohsen will be providing some additional entertainment for the audience with the performance of some Arabic ballads to the tune of Maestro Aziz Al Masry. Keep in mind that this is a no-phone experience, and you will be asked to leave your devices with security. You can book tickets here.

MUSIC-

Warm up your vocal cords, gang. Karaoke Night is back at ROOM Art Space and Cafe. ROOM’s doors are open every Tuesday through to 27 February for you and your friends to belt out your favorite tunes, starting at 8pm and ending at 10pm. You can reserve your spot here.

If you missed last month’s Mazaher concert, don’t fret. The Zar band is performing two back-to-back concerts tomorrow at Makan, the Egyptian Center for Culture and Arts downtown. The first concert will start at 8pm, and the second will follow at 9:45pm.

Soothe your ears with the sound of harmonious music at the Harp classic concert with Manal Mohei Eldin on the string quartet playing pieces by Mozart and Boïeldieu. The performance will also feature Huda Abde Elazim on the flute as the guest of honor. This is a one-day concert at Cairo Opera House’s small theater on Sunday, 21 January from 8pm. Reserve your seats here.

The Cairo Opera House is reserving its Main Hall for a Rageh Daoud homage concert on Sunday, 21 January. The concert will be conducted under the tutelage of Maestro Ahmed Farag, and will kick off at 8pm. Before you book your tickets, note that there is a strict black-tie dress code for the night. Gentlemen, that means a full suit, tie included.

SPORTS-

The Cairo Half Marathon is taking place in a few months: Mark your calendars for Friday, 1 March, and start stretching. Cairo Runners is bringing back a fan favorite, offering the same distances as The TriFactory. Tickets are available until 27 February, giving you ample time to convince seven of your friends to join, which will get a 10% reduction in price when you register.

One of our favorite episodes was the one featuring Bumble founder Whitney Wolfe, who was faced with the challenge that could make or break her business model — how could she make Bumble, which relies on people meeting in person, survive the pandemic? She gives her strategy, insight, and her observation of human behavior that made her business thrive rather than fall apart.

WHERE TO LISTEN- You can listen to How I Built This on Apple Podcasts, NPR, Spotify, and Wondery.

What the markets are doing on 9 January 2024

The EGX30 rose 1% at today’s close on turnover of EGP 4.0 bn (19.3% above the 90-day average). Regional investors were net buyers. The index is up 2.8% YTD.

In the green: Abu Qir Fertilizers (+3.4%), Beltone Holding (+3.2%), and Eastern Company (+2.8%).

In the red: Ezz Steel (-1.5%), CIRA Education (-1.4%), and Oriental Weavers (-0.8%).

Meet Cynthia Bacheet, co-founder and head designer at Noog

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 Cynthia Bacheet (LinkedIn), co-founder and head designer of Noog.

My name is Cynthia Bacheet and I’m the co-founder and head of design at Noog Furniture. Our brand creates contemporary furniture pieces that are 100% locally produced and crafted and areinspired by Upper Egypt and its culture.

I studied architecture at the Universität der Künste Berlin in Germany. But by the time I graduated, it was already mid-covid. So when I came back to Egypt, I struggled to find a job as conditions were unstable in the nation and worldwide. I decided to start working with my mother — who is also an interior designer — at her architecture company Josephine Shahid Design. There, I worked on designing, interior designing, and on-site to execute all of the designs. What I realized is that a large part of the interior design process was designing the actual furniture pieces and creating them, as well.

…which was when I started noticing a gap in the local Egyptian furniture market.This coincided with rising prices in Egypt making things less affordable. My mom and I then decided to start forming a furniture brand called Noog — which means home in the Nubian language — as a separate entity. This allowed me to take a step back from my mother’s firm and focus more on the company I had co-founded.

I had to give up stabilitywhen I started my own business: Becoming my own boss meant taking responsibility for every choice I made, which was a huge step for me. I didn’t have any corporate experience — I had to make decisions and follow them through to make things happen. This could be perceived as a blessing or a curse because once you’re actually in charge of making decisions and executing them, you become the leading force of that company. So its achievements and failures relied solely on me and my team.

Making a call and committing to it is the really difficult part of this role. It takes a lot of accountability and dedication to reach the targets you’ve set for that company. But the blessing comes when you see your vision and dream become a reality.

Ever since I was a child I was inspired by Egyptian culture and the Nubian heritage, which led me to take elements from each of them and put them into Noog.

I turn to my mother for advice. She’s been working in the interior and manufacturing field and everything that concerns architectural design for over 25 years. She has the expertise that keeps us going. Every time I struggle with anything or need advice concerning clients, or our industry, I turn to her and she’s very happy to help us and help the business grow.

Nowadays, being a founder of a startup is not a lonely journey. I feel that there are so many hands that are reaching out to you that you can grab and ask for help. I am fortunate to be surrounded by a very entrepreneurial family, affording me several people to ask for advice. But I feel that in our field there are communities that help out, as there are in many other fields.

In the beginning, we didn’t want to invest heavily in Noog — we wanted to start small. What we did was we started manufacturing a few products and showcased them in a small showroom. One thing led to another and we started to progress and grow. Now we have a shop in El Gouna and a showroom in New Cairo. Noog grew naturally, rather than us having to invest too much into it. We took it day by day, worked, designed, and let Noog evolve organically. Eventually, we entered Le Marche for the first time, which was a big step for us as a small company in the field. We were not anticipating the growth and were grateful as Noog spontaneously developed.

We believe that the locally produced items in Egypt have a lot of potentialbecause of the quality of craftsmanship and materials that we have here. So if we’re talking about long-term goals we’re dreaming of a day where we can export our products to markets outside of Egypt and be able to showcase our items all over the world.

Ever since I started Noog, it’s been really difficult to catch up with my friends and spend quality time with them because of all the work and tasks that have to be done. Any chance I get and every available minute that I have, I usually spend it with them. I also really enjoy traveling.

If I hadn’t built Noog and if this wasn’t my career, I would probably be doing something very similarin the same industry because this is what I’m passionate about and what I genuinely enjoy doing. Visualizing something or having it designed and then seeing it come to life is truly inspiring and an activity that I would be doing, regardless of having started this business or not.

When it comes to the Egyptian startup scene, the biggest strength is that we have a huge pool of talent. We have a large number of Egyptians who are very well-educated, well-traveled, and who have gained so much experience. They are now coming back to Egypt to live here and are willing to share this experience with their peers. The biggest challenge for startups now would be the economic situation that we are in as a nation since the fluctuating prices of raw materials that we have to import from abroad have caused our prices to fluctuate, too.

One thing I’d like us to change about the local startup sceneis how much we focus on and celebrate very tech-based startups. There are innovative and disruptive solutions to traditional businesses through other creative ways that are also scalable and are worthy of their moment in the sun.

My advice to future entrepreneurs would probably be to learn from everyone’s story, but not to compare yourself to them: Each business is unique and each journey is different. We have to learn from each other but we should never be comparing ourselves to other people and to how fast they grow.

ENTERPRISE ENTERTAINMENT CALENDAR

JANUARY

5 January-2 February (Friday-Friday): Intro to Improv with Ramsi Lehner.

6 January-28 February (Saturday-Wednesday): Crochet courses at Monalisa Art Studio.

11 January (Thursday): Ahl El Fan Movie Night at Qahrawya.

13 January (Saturday): Saad ElOud concert at Cairo Jazz Club.

19 January (Friday): Amr Selim Live in Concert at the Cairo Opera House.

25 January (Thursday): Revolution Day.

26 January-6 February (Friday-Tuesday): Cairo International Book Fair.

FEBRUARY

1-4 February (Thursday-Sunday): Fujifilm Egypt Festival at Consoleya.

21-22 February (Wednesday-Thursday): Omar KhairatHafliti concert at the Cairo Opera House.

MARCH

1 March (Friday): Cairo Half Marathon by Cairo Runners.

11-12 March (Monday-Tuesday): Creative Industry Summit.

APRIL

9 April (Tuesday): Eid El Fitr (TBC).

25 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).

MAY

1 May (Wednesday): National holiday in observance of Labor Day (TBC).

5 May (Sunday): Coptic Easter.

6 May (Monday): Sham El Nessim (TBC).

JUNE

15-19 June (Saturday-Wednesday): Eid El Adha (TBC).

30 June (Sunday): June 30 Revolution Day (TBC).

JULY

7 July (Sunday): National holiday in observance of Islamic New Year (TBC).

23 July (Tuesday): Revolution Day (TBC).

SEPTEMBER

15 September (Sunday): National holiday in observance of Prophet Muhammad’s birthday (TBC).

OCTOBER

6 October (Sunday): Armed Forces Day.

EVENTS WITH NO SET DATE

2023: The inauguration of the Grand Egyptian Museum.

Q1 2024: Opening of the newly developed Pyramids Plateau in Giza.

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