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WHAT WE’RE TRACKING TONIGHT

Madbouly pitches Japanese industrial zone in SCZone

Good afternoon, friends, and happy hump day. At home, we’re keeping an eye out on a potential new Japanese industrial zone.

THE BIG STORY TODAY-

Madbouly pitches a Japanese industrial zone in Egypt: Prime Minister Moustafa Madbouly invited Japanese companies to establish a dedicated Japanese industrial zone in the Suez Canal Economic Zone, saying it would let manufacturers capitalize on Egypt’s strategic location at the crossroads of Africa, Europe, and Asia and leverage the country’s freetrade agreements to reach key markets with fewer customs barriers, according to a cabinet statement.

All for the localization push: Madbouly also urged Japanese firms at the Egypt-Japan Business Council in Tokyo to back Egypt’s localization drive in priority sectors including automotive, renewables, and water desalination, noting the government is supporting these industries with incentive packages.

The investment forum also saw the signing of 12 agreements and letters of intent across education, renewables, industrial development, IT, logistics, tourism, and green energy, according to a separate statement. Standouts include an agreement between the SCZone, Orascom Construction, and Japan’s Itochu Corp to develop green fuel bunkering for ships, and a pact between Toyota Tsusho and the ministries of industry and investment to localize automotive manufacturing and components.


Mark your calendar for the 2025 EnterpriseAM Egypt Forum, our flagship forum and part of our must-attend series of invitation-only, C-suite-level gatherings. Tap to register your interest to attend. Want to partner with us? Reach out to Moustafa Taalab at mtaalab@enterprisemea.com to explore sponsorship opportunities.


THE BIG STORY ABROAD-

It’s a calm day on the business front, with the UK backtracking on its demand to access encrypted Apple data getting the most ink.

UK dropped demand for access to US Apple data, US Director of National Intelligence Tulsi Gabbard said on X today. The country had previously insisted on being provided a “backdoor” that would allow retrieval of encrypted user data held by Apple, which prompted the iPhone-maker to withdraw its Advanced Data Protection feature from the country earlier this year. “The vice-president negotiated a mutually beneficial understanding that the UK government will withdraw the current back-door order to Apple,” a US official cited by the Financial Times said.

ICYMI: In December, the UK served Apple a formal notice demanding right of access to the data — which, it is worth noting, could not be accessed by Apple itself given its Advanced Data Protection security feature, which exclusively allows users access. Earlier in May, US lawmakers noted that providing backdoor access would make the data susceptible to cybersecurity risks. (Reuters | BBC | FT)

☀️ TOMORROW’S WEATHER- We’re in for slightly cooler weather in the capital tomorrow, with temperatures peaking at 36°C, before cooling down to 24°C. Up north, we’re in for a high of 29°C and a low of 27°C, according to our favorite weather app.

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FOR YOUR COMMUTE

Inside the expensive acqui-hire war

As tech companies scramble for AI talent, competition in Silicon Valley is slowly being wiped out. The AI talent war seems to be steering towards an acqui-hire war with Google’s recent acquisition of Windsurf leading that front. The agreement was a “reverse acqui-hire,” the Financial Times contends, claiming that Google was vying for Windsurf’s lead employees, not the actual company. Will Silicon Valley’s hiring pool continue to be an echo chamber?

Dodging the antitrust complex: Amidst a surge of talent poaching and big tech acquisitions, tech merges have become a red flag for antitrust authorities. As acquisitions, by law, prompt antitrust inspections, corporations are finding loopholes to push out potential competitors through acqui-hires instead.

For Google, this is not its first rodeo. Just last year, it hired the founders of Character.AI without buying the company. Similarly, Microsoft took in employees from start-up Inflection AI last year, including its CEO Mustafa Suleyman. Meta has also long had its sights set on top talents from OpenAI, offering them USD 100 mn in signing bonuses. Counterarguments, however, note that acquisitions actually provide lucrative exit strategies for innovative start-ups and thus offer further incentive for innovation in the field.

Cue the ‘moneyball’ approach: To escape recycled AI talent and over-the-top competitive salaries, HelloSky CEO Alex Bates took on a new approach to talent acquisition. Bates founded HelloSky as a generative AI platform that “unearths” AI talent through less traditional routes. HelloSky aims for talent outside of Silicon Valley’s already established network through developing a map of experts that prioritizes measurable impact and experience over degrees and connections. Aside from resumes, the platform tracks down code contributions, peer-reviewed research, and open-source projects, ensuring an equal playing field.

Innovation outside the Valley: At the moment, AI talent is a small circle — and staying in it won’t help companies achieve their next breakthrough. With platforms and solutions such as Bates’, hidden talent may get its moment to stand out and real innovation might have a chance, especially considering that AI might be hitting a plateau.

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EAT THIS TONIGHT

Go for Hummus and Go tonight

? We’ve all had our fair share of Lebanese hummus, but have you ever tried Palestinian? Sitting snug in the heart of Korba, Hummus and Go is a Palestinian fast food restaurant that introduces traditional flavors to fresh palates all over Cairo, one hummus platter and Gazan falafel sandwich at a time.

You won’t find Makloube or Mujaddara at Hummus and Go, what you’ll find is even better. All about on-the-go Palestinian classics, the Korba joint — famed for its annual Ramadan suhoor specials — offers breakfast and all day items; including — but certainly not limited to — Palestinian kebab shakshouka, fatta makdous, musahab meals, and crispy “intifada” sandwiches. The most visited section of the menu, however, is as the name implies, the hummus bar.

Classic, beetroot, red pepper, or even soujouk hummus — you name it, they got it. For our latest Palestinian culinary adventure, we ordered quite the feast for ourselves. The Gaza falafel, Palestinian kebab sandwich, fatta makdous, crispy Intifada, and the soujouk hummus found their way into our Talabat cart. Some 20 minutes later, we were plating our treasure. One thing to note — that we wish we knew — is that the portions are on the generous side, so you might want to rein yourself in before clicking place order.

That said, we wiped our plates clean. Though some dishes fared better than others. The Palestinian kebab sandwich was filling, flavorsome, and generously seasoned, and the same can be said about the Gaza falafel sandwich — which could substitute an entire breakfast order given its size. The fatta makdous proved the star of the show, surprisingly light despite deceiving appearances. Needless to say, the soujouk hummus was also a top contender, yet was a tad spicier than expected. Unfortunately the crispy Intifada sandwich — fries, eggplant, and boiled eggs — did not quite cause a ruckus with us.

The verdict: Hummus and Go offers flavors you’ve likely not experienced in a very long time. Palestinian food isn’t by any means new to Egyptian palates, but Palestinian fast food certainly is, and this Korba joint has certainly cracked the code. While Hummus and Go is definitely worth it, it’s a little bit on the pricier end of the spectrum, so order wisely.

WHERE TO ORDER- You can order from Hummus and Go through Talabat, visit their Heliopolis branch at 18 Baghdad Street, Korba, or order by calling 01080658005 if you’re in Heliopolis, and 01124239140 if you’re in New Cairo.

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Sports

Real Madrid and Osasuna face off in La Liga opener

Real Madrid hits the field: Real Madrid is kicking off their 2025/26 La Liga season by hosting Osasuna at the Santiago Bernabéu Stadium tonight at 10pm.

The Royals have their eyes set on a victory and three points to solidify their status in the league, following a loss to Barcelona last season. A victory would be particularly pivotal for Real Madrid following the departure of Carlo Ancelotti and the arrival of their new coach, Xabi Alonso. As for Osasuna, they have ambitions of achieving a positive result away from home and surprising the White Giants in the opening match of the competition.


Tonight’s Egyptian Premier League matchups:

  • National Bank vs. Kahrabaa Ismailia (6pm).
  • Pharco vs. Tala’ea El Gaish (6pm).
  • Al Masry vs. Pyramids (9pm).
  • Ismaily vs. Al Ittihad Al Sakkandary (9pm).


UEFA Champions League playoff matches happening tonight at 10pm:

  • FK Crvena zvezda vs Pafos
  • Ferencvárosi TC vs Qarabağ FK
  • Rangers vs. Club Brugge

This publication is proudly sponsored by

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OUT AND ABOUT

Rap powerhouse Wegz to perform at New Alamein Festival

MARK YOUR CALENDAR-

? Stage powerhouse Wegz is back again for another epic performance at New Alamein Festival at U Arena. Don’t miss this electric night on Friday, 22 August. Get your tickets on Tazkarti.

HAPPENING THIS WEEK-

The 33rd edition of the Citadel Festival for Music and Singing kicked off on Friday and is set to conclude on Saturday, 23 August. Don’t miss out on the diverse lineup of opera and pop singers at the Salah El-Din Citadel. Get your tickets at the door or through Tazkarti.

Discover the potential of your phone camera and join Photopia’s workshop on mobile photography with Egyptian visual artist Mohamed Mamdouh. Join the three-day workshop from Wednesday, 20 August to Friday, 22 August by filling out the registration form.

Enjoy a night of rock classics at Cairo Jazz Club with the band Seattle. With covers of songs by the iconic Nirvana and Radiohead, get your dose of nostalgia and catch their live performance on Thursday, 21 August. Book your tickets on CJC’s website.

ESCĀ Beach Club is about to serve up a slice of European summers on Friday, 22 August in Ras El Hekma. Italian DJ duo Fideles will be doubling down on energy — electrifying all those in attendance with their signature techno beats. Joining them is Berlin-based Russian DJ Yulia Niko — and in case that wasn’t enough, Egyptian DJs Ashmawy and Mohasseb will be playing back to back. You can secure your spot through Ticketsmarché.

HAPPENING LATER-

Hitmaker Tul8te to wrap up the New Alamein Festival on Friday, 29 August. Enjoy an unforgettable night of his captivating pop melodies at U Arena. Head to Tazkarti for tickets.

Address Beach Resort is where the fun never stops. Megastars Wael Gassar and RehamAbdelhakim will give electric performances at Marassi on Saturday, 13 September. Head over to Ticketsmarché for tickets.

Prepare yourself for a transcendent night by the Giza Pyramids with Anyma and his show Quantum Genesys on Friday, 10 October. Get tickets to this ultimate electronic music experience on Ticket Egypt now.

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GO WITH THE FLOW

What the markets are doing on 19 August 2025

The EGX30 rose 0.8% at today’s close on turnover of EGP 5.4 bn (3.4% above the 90-day average). Local investors were the sole net buyers. The index is up 21.4% YTD.

In the green: Arabian Cement (+4.4%), Qalaa Holdings (+2.6%), and Fawry (+2.2%).

In the red: Misr Cement (-2.3%), Orascom Construction (-2.0%), and Emaar Misr (-1.1%).

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Founder of the Week

Meet our founder of the week: Baky Hospitality’s Ayman Baky

FOUNDER OF THE WEEK — Every Tuesday, Founder of the Week looks at how a successful member of Egypt’s business or startup community got their big break, asks about their experiences running a company, and gets their advice for budding entrepreneurs. Speaking to us this week is Ayman Baky (Linkedin), founder and CEO of Baky Hospitality, the group behind some of Egypt’s most prestigious high-end restaurants, including Sachi, Kazoku, and Shinko.

My name is Ayman Baky and I’m the founder and CEO of Baky Hospitality, a group specializing in high-end restaurants and hospitality experiences across Egypt. We operate a growing portfolio of brands including Sachi, Reif, Lexie’s, Kazoku, Megumi, and Shinko — with a presence in Cairo, the North Coast, and beyond. I’ve been in the hospitality business for over 25 years, primarily on the operations side, but eventually transitioned into business development as the company scaled.

As we expanded, I realized I couldn’t keep my hands in every kitchen — literally and figuratively — so I focused on building a structured back office, empowering my longtime employees, and developing a proper internal hierarchy. Many of our team members have grown with us from their early 20s into their late 30s, so part of my responsibility has been ensuring they have long-term career paths. With growing salaries and operational needs, we had to scale — especially in the face of the devaluation and inflationary pressures of the past few years, which significantly squeezed our margins. Expanding wasn’t a luxury — it was a necessity.

I graduated from the American University in Cairo in 1996 with a major in Mass Communications and a minor in Economics. I didn’t know exactly what I wanted back then, but I had a strong gut feeling I was meant to pursue something in hospitality. At the time, there weren’t many chances to formally study hospitality in Egypt, so I learned the hard way — through trial and error, opening and closing ventures, and learning on the ground.

Before launching Baky Hospitality, I worked at Orascom Development as a marketing executive for five years, followed by stints at Sony Music International and Virgin Megastore. These roles, while in entertainment and tourism, taught me valuable lessons about brand building and consumer experience. I also freelanced as a corporate events promoter, which helped me carve out a name and reputation that I later leveraged when launching my own venues.

What really inspired me was a question I kept asking myself whenever I traveled: Why do we need to go to Lebanon or Dubai to enjoy world-class service and experiences? Why not here? Egypt has history, culture, and talent — but for too long, we’ve been labeled as second-tier. I wanted to change that narrative. I opened my first restaurant in Alexandria in 2002. It didn’t last, but I kept at it. The turning point came in 2014, after the 2011 revolution and a year-long sabbatical to study the market. That’s when we launched Sachi in Sahel, which remains one of our strongest brands today.

We differentiate ourselves by investing heavily in people — not just in training, but in cultivating a mindset and sense of pride. When our staff understand the “why” behind what they do, it transforms how they greet guests, how they serve, and how they represent the brand. We’ve also stayed remarkably consistent with quality. It’s not uncommon to come back years later and find the food tastes exactly as you remembered — in the best way.

Looking ahead, we have several openings slated for 2026-27. We’re planning to launch an 80-room urban boutique hotel in Swan Lake West, catering to a growing demand for city-based, luxury hospitality experiences. The design includes private water features, shared pools, and resort-style amenities — all within Cairo. Our goal is to create an immersive experience that mirrors the ambiance of our restaurants, but on a larger hospitality scale. Later this year, we’re also opening Little Lexie’s in Swan Lake New Cairo, Reif Kushiyaki Seasons in New Cairo, and Madame Yu, a Chinese concept restaurant, in New Cairo’s One Ninety in Q1 2026.

The biggest challenge we’ve faced in recent years is the supply chain. We operate in a high-end niche, and sourcing quality ingredients while navigating import restrictions and currency fluctuations has been a constant hurdle. But constraints often spark creativity — and we’ve had to improvise without compromising on quality.

If I could change anything about our industry, it would be the lack of structure and certification in hospitality training. International brands are hesitant to enter the market because the talent pipeline isn’t standardized. There’s no consistent education system for culinary and hospitality professionals — but that’s starting to change. I believe Egypt is entering a turning point, and I hope to see more institutions stepping in to bridge this gap.

The most rewarding part of my job? Three things: seeing a guest delighted with their experience, walking into a packed venue, and being recognized with awards on an international level. On the flip side, the hardest part is translating a dream into reality — and then maintaining that quality consistently over the years.

Balancing work and life is only possible through delegation. I’ve built a leadership team that carries our DNA. Many of them have equity in the business and have grown with me — they’re family now.

If I weren’t running my own company, I’d still be in this industry, but working abroad. I’d want to learn properly and eventually launch my own concept again, better equipped. To my younger self, I’d say: Focus early. Figure out what you love and commit to learning it deeply. Don’t let money be the sole motivator — if you chase money without passion, you’ll bounce from job to job and never feel fulfilled.

To new entrepreneurs, especially in F&B, I’d say: Know your market. Find your edge. Be patient. Don’t rush to scale — you’ll make better decisions with time and reflection. And if you can find a mentor, that’s gold.

Marketing has evolved massively. I’m traditional at heart, but even I can’t ignore the power of social media. Our marketing department has grown significantly — we now have designers, videographers, and photographers in-house. We work hard to keep our voice authentic and connect with our audience in real time. Social media — handled by our own Baky Studio — is the fastest and most effective way to reach our customers, whether we’re launching a new dish or opening a new location.


? AUGUST

15- 23 (Friday - Saturday): 33rd edition of the Citadel Festival for Music and Singing.

20- 22 August (Wednesday - Friday): Photopia Mobile Photography Workshop.

21 August (Thursday): Seattle the Band at CJC 610.

21 August (Thursday): Hamada Helal at Porto Golf Alamein.

22 August (Friday): DJ Fideles at ESCA Beach Club.

22 August (Friday): Wegz at U Arena.

22 August (Friday): Bedouin at D-Bay.

23 August (Saturday): Tamer Hosny at The Address Beach Resort.

24 August (Sunday): Jadal at Bibliotheca Alexandrina.

29 August (Friday): Solomun at D-Bay.

29 August (Friday): Tul8te at U Arena.

29 August (Friday): Cairokee at U Arena.

30 August (Saturday): Nancy Ajram and Hamaki at The Address Beach Resort.

SEPTEMBER

1-7 (Monday - Sunday): Amira Selim singing masterclass at Khayal Arts and Music Academy.

4 September (Thursday): Al Mawlid Al Nabawi.

13 September (Saturday): Wael Gassar and Reham Abdelhakim at The Address Beach Resort.

OCTOBER

6 October (Monday): Armed forces day.

7 October (Tuesday): Enterprise Egypt Forum 2025.

10 October (Friday): Anyma at The Great Pyramids.

15 October (Wednesday): Scorpions concert at New Capital.

16-24 October (Thursday-Friday): Gouna Film Festival.

30 October - 22 November (Thursday-Saturday): Forever is Now at the Great Pyramids of Giza.

DECEMBER

19 December (Friday): DJ Tiësto at the Giza Plateau.

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