Language
العربية

Sections

About

Privacy & Support

Get EnterpriseAM daily

Available in your choice of English or Arabic

Monday, 9 Mar 2026

What We're Tracking Today
The Big Story Today
Economy
Industry
A Message From Sekem
Trade
Moves
Egypt In The News
Also On Our Radar
Planet Finance
Blackboard
Calendar

Fresh wave of hot money outflows push the EGP to record lows

An independent publication supported by

Opening up a world of opportunity

Realize More

Live More

Powering with nature

Driving growth

Today at a glance

1

The Big Story Today

EGP hits record low against the greenback.
2

Economy

Government to funnel all Alam El Roum proceeds into treasury to bridge FX gap.
3

Industry

Say goodbye to the three-year lock on selling factory land.
4

Trade

The war creates an unexpected boom in exports to Europe and Africa.
5

Moves

US appoints career diplomat Robert Silverman to head its embassy in Egypt.
6

PLANET FINANCE

A short-lived Hormuz squeeze could be a boon for some GCC economies and a curse for others.
7

BLACKBOARD

Egyptian edtechs are now crossing the Red Sea to mature.

Monday, 9 Mar 2026

What We're Tracking Today
The Big Story Today
Economy
Industry
A Message From Sekem
Trade
Moves
Egypt In The News
Also On Our Radar
Planet Finance
Blackboard
Calendar
1

What We're Tracking Today

Egypt gives a helping hand to save GCC oil from storage wall

Good morning, friends. As we enter day 10 of the conflict, the human toll is rising fast amid relentless attacks across the region. Some 1.2k people have been killed in Iran, along with more than 300 in Lebanon, some 17 people in the GCC, and over 10 in Israel.

Today’s issue is once again dominated by the impact of the war, with the EGP slipping further against the USD after initially showing some encouraging signs of resilience, and the government moving to secure the fiscal floor by diverting the entire USD 3.5 bn windfall from the Alam El Roum development to the treasury to help bridge the FX gap.

In the energy sector, Egypt is continuing to position itself as a workaround to the closed Hormuz Strait, while local exporters are finding that European and African markets are opening up due to delayed Asian shipments as the USD 9 bn Gulf export market remains largely inaccessible.

***

WISH THIS MORNING’S ISSUE was a podcast? We’ve got you. Tap or click here to listen to Morning Drive, a 10-minute version of today’s issue crafted for you to enjoy with your morning coffee, while getting the kids ready for school, or while stomping around the house wondering where the [redacted] you left your [redacted] reading glasses.
***

Watch this space

ENERGY — Egypt opens Red Sea oil storage to int’l players amid Hormuz closure: Egypt has offered 10 crude and petroleum storage facilities for lease in the Red Sea, a senior government official tells EnterpriseAM. Egypt aims to attract oil deliveries from Saudi Arabia, Kuwait, Iraq, and Qatar, while doubling storage capacity at its Sumed- and Ras Badran-associated facilities, the source said.

The news follows Egypt offering its Sumed pipeline from Ain Sokhna to Sidi Kerir to facilitate the transfer of Saudi crude oil from the Red Sea’s Yanbu Port to the Mediterranean as a workaround to the Hormuz Strait being effectively closed due to ongoing hostilities, as well as rising ins. premiums. Egypt already has existing contracts with Saudi Arabia’s Aramco, as well as Kuwaiti and Qatari companies, for the pipeline’s operation, the source added.

Why this matters: Today is day T-minus 18 out of a 25-day countdown before GCC oil producers run out of storage space, according to analysts at JPMorgan. If the strait remains closed beyond this window, producers may have to stop output entirely because there will be nowhere left to store the oil.

EgyptAir and other airlines are gradually resuming flights in and out of the UAE, starting today with two daily flights to Dubai and another to Sharjah, followed by a daily flight starting tomorrow to Abu Dhabi, the airline said in a statement. The move follows Emirati airlines Emirates, Etihad, Flydubai, and Air Arabia restarting full or partial services in and out of the UAE.

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.

Subscribe here

** DID YOU KNOW that we cover Saudi Arabia, the UAE, and the MENA-IndiaCorridor?

Happening tomorrow

The business community and policymakers will be watching closely for February’s inflation figures due out tomorrow. The country’s last reading showed annual headline urban inflation falling to 11.9% y-o-y in January, despite an uptick in the prices of food and beverages.

Analysts see inflation inching up 0.1 percentage point to a headline rate of 12.0%, according to a Reuters poll.

Setting the tone

Ignore the rumors, there’s no anbooba shortage, the Oil Ministry said in a statement responding to reports that liquefied petroleum gas cylinders are in short supply. It follows not just a host of similar announcements for other products, but even the threat of referring those accused of price gouging to a military court as the state looks to preemptively avoid price manipulations and panic buying in the local market.

Market watch

Crude surged above the USD 100 / bbl mark as the closure of the Hormuz Strait sends prices in the global energy market upwards, with Brent crude going for USD 117 / bbl in early trading. Last week alone, crude oil prices surged 30% — their biggest jump in six years.

Data point

18 — that’s Egypt’s ranking among the world’s largest economies by purchasing power parity (PPP), with a GDP of about USD 2.5 tn, behind only Saudi Arabia in the Middle East, according to a Visual Capitalist report, citing International Monetary Fund data.

SOUND SMART- PPP adjusts GDP for differences in local price levels, which often makes lower-cost economies appear larger compared to advanced economies. By contrast, nominal GDP uses market exchange rates, meaning currency depreciation can lower a country’s nominal GDP ranking even if its real production remains stable.

PSA

Attention all Jeep, Chrysler, and Dodge owners: you may need to get your airbags replaced. Ezz Elarab Automotive issued a recall for all models of the cars manufactured between 2003 and 2016 due to a manufacturing defect found in Takata airbags, the Consumer Protection Agency said in a statement. Owners are instructed to go to authorized service centers to have their airbags replaced without charge, in addition to a complimentary oil and oil filter change.

The recall is the second of its kind in a week due to several brands using the same defective Takata airbags, after Mansour Auto issued a similar recall for Opel vehicles manufactured between 2007 and 2019.

WEATHER- The sun is out in Cairo today with no clouds in sight, with a high of 21°C and a low of 11°C, according to our favorite weather app.

Partly cloudy skies are forecast for Alexandria, with a high of 21°C and a low of 12°C.

The big story abroad

Leading today’s global news cycle is the appointment of a new supreme leader in Iran. Mojtaba Khamenei — Ayatollah Ali Khamenei’s son — is taking on the role after the killing of his father, according to Iranian state media. The decision was taken by a group of clerics known as the Assembly of Experts. US President Donald Trump had previously characterized the appointment of the former supreme leader’s son as “unacceptable.”

*** It’s Blackboard day: We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed.

In today’s issue: We take a look at how edtech startups are no longer just expanding to the Gulf to escape currency issues, but to grow and mature as a business.

Tags:

Art. Sound. Movement.

This month, Somabay welcomes NoArt for a night where sound, art, and energy converge by the Red Sea.

With a global lineup featuring ANOTR, Bella, Chloé Caillet, Chris Stussy, Job Jobse, Palms Trax, and Misty, the Bay transforms into an open-air stage where music moves freely from sunset into the night.

A gathering of sound, movement, and creative expression set against one of the Red Sea’s most extraordinary landscapes.

22 March 2026 — Somabay Egypt

2

The Big Story Today

EGP hits record low against the greenback

The EGP slid to a record low of EGP 52 against the greenback yesterday, driven by a fresh wave of hot money outflows as regional tensions escalate. This comes as global oil prices surge, creating a double-sided squeeze on Egypt’s fiscal targets and the sustainability of its economic reform program.

At the banks: The greenback was trading at EGP 52.11-52.21 at state-owned banks and the CIB yesterday.

Behind the outflows: Hot money “is inherently sensitive to any political or economic variables […] Once investors feel anxious, they move to liquidate EGP assets and convert to USD,” former banker Maged Fahmy tells us.

We saw USD 505 mn in total interbank volume yesterday, compared to USD 710 mn on Thursday. A banking source told EnterpriseAM that while Egypt has seen approximately USD 3.7 bn in portfolio outflows since the start of the conflict, the situation remains within “safe limits.”

We could see the local currency dive further: If geopolitical tensions continue to mount, the USD could “reach levels of EGP 54 by the end of this week,” according to the source.

It was more than just hot money outflows that pushed the currency to fresh lows, with banking expert and EG Bank board member Mohamed Abdel Aal pointing to rising risk premiums, exchange rate flexibility, and a surge in precautionary hedging from importers.

Gold rush: The weakening EGP pushed investors towards gold, with prices surging and 21-karat gold hitting EGP 7.5k per gram yesterday.

The way ahead: Abdel Aal sees three potential paths ahead: a scenario where the EGP stabilizes if tensions cool; another where further exits drive more temporary depreciation; and a third and final “gradual stability” scenario if global flows eventually return.

Fahmy’s prescription for the EGP: To break the cycle of hot money reliance, Fahmy calls for a national strategy focused on sustainable revenue — primarily exports. “Building a strong economy requires deep structural reforms […] which will only be achieved by empowering the private sector and loosening the state's grip on economic activities,” he said. He also called for a decisive approach to external debt — “stop new borrowing and immediately begin negotiating with creditors to extend payment terms and restructure debt to ease current pressures.”

Oil spike threatens reform trajectory: Brent crude surged over the past week and surpassed the USD 100 per barrel mark today, putting the government’s plan to reach cost recovery under immense pressure. Officials are looking into potential temporary adjustments to fuel prices, a government source told us, adding that the move depends on the state’s capacity to absorb the shock and the expected duration of the crisis.

Could this mean a hike to electricity prices? While the government originally planned to keep electricity prices unchanged until the new fiscal year, the surging cost of natural gas has changed the plan, another source told us. “If the crisis persists, the government is considering a temporary hike to prices, raising them by 10-15%, but only for the highest consumption brackets,” the source added.

As things stand: The government is conducting a final review of the next fiscal year’s draft budget to account for rising interest payments. “Interest payments and debt obligations continue to constitute one of the fundamental risks facing the new budget and the completion of economic reform targets,” our sources noted.

What does this mean for our long-awaited debt strategy? This may require a revision of the national debt strategy, which was finalized but is now being re-evaluated ahead of its planned 2Q launch, they added.

We could be getting a lending hand: We could secure an emergency support program from the IMF and the World Bank to help cushion the fiscal impact of the crisis.

Tags:

This publication is proudly sponsored by

3

Economy

Treasury to claim 100% of Alam El Roum windfall

The state will allocate the entire USD 3.5 bn from the Alam El Roumdevelopment to close the financing gap and ease pressures on the state treasury’s FX needs, a senior government official tells EnterpriseAM. The move marks a departure from the previous policy that saw the Finance Ministry only take half of asset sale and investment proceeds to pay down debt.

Why this matters: By channeling 100% of these inflows to the treasury, the government is prioritizing the reduction of high-cost external borrowing and easing the immediate pressure on foreign currency reserves. This follows a month in which the government settled some USD 2.3 bn of international bond and sukuk maturities.

To address high interest rates globally and the rising cost of insuring sovereign debt in the short term, the ministry is also planning smaller international bond issuance, likely totalling USD 1 bn-2.5 bn, according to a government document seen by EnterpriseAM. Rather than going all in on large issuances as in the past, the risk of current geopolitical risk premiums is pushing the state to look towards smaller tranches to better navigate and wait out market volatility. The issuance could also involve extending the maturity of existing obligations at longer tenors and competitive terms, our source told us.

In the longer term, the finance and planning ministries are looking towards securing concessional and semi-concessional loans, which they plan to make up 66-70% of all external financing for the second half of the FY. The push is driven by a desire to meet debt obligations without drawing down the central bank’s FX reserves.

DATA POINT- Fitch currently estimates the country’s total debt obligations at around USD 18 bn. The Finance Ministry trimmed external debt by USD 2 bn during the first half of the current FY, with further reductions planned for 2H, according to the document we reviewed.

Tags:
4

Industry

Say goodbye to the three-year lock on selling industrial land

Industry Minister Khaled Hashem just approved a new leasing mechanism for industrial zones that scraps an old, frustrating roadblock for investors who want to build factories. Previously, they were told they could not dispose of their land or facility for three full years.

Why it matters: By scrapping the three-year lock-up period on industrial land, the ministry is creating a secondary market for industrial assets. This allows investors to exit or pivot their capital much faster, reducing the “dead money” risk associated with building factories.

Ditching the “one-size-fits-all” rule: The government is also getting much smarter about how it hands out property. “We are moving away from traditional land offerings. Moving forward, land allocation will be tied to the specific industry and geographical location. There will no longer be a ‘one-size-fits-all’ approach,” the minister stated. For example, building in Sadat City will now have completely different criteria than setting up shop in Minya or the Tenth of Ramadan.

These on-the-ground changes are actually the first steps of a much bigger story. Within the next two months, the ministry is launching a massive, integrated industrial development strategy. Hashem made the new national philosophy crystal clear: the “era of assembly is over.” The country is pivoting hard away from just putting imported parts together, focusing instead on deep local manufacturing and genuine production.

The USD 99 bn target: The ultimate game is ambitious: pushing non-oil exports to a staggering USD 99 bn. To make it easy for businesses to jump on board, the government is mapping out priority sectors and even handing out ready-made feasibility studies for five to six major strategic industries.

A piece of the cake for rural communities: This isn’t just a corporate overhaul for the big cities. A heartwarming piece of the story is the push to bring medium-scale industries directly into rural communities to support the Haya Karima initiative.

But grand plans require serious funds. That’s why the ministry is teaming up with the private sector and the Investment Ministry to create new industrial funds to fuel this growth. Think of these like the investment funds people use for gold or real estate, but designed specifically to inject liquidity into SMEs. Right now, five private funds are being reviewed, creating a clever way to take national savings and pump that liquidity directly into Egypt’s industrial heartbeat.

Tags:
5

A MESSAGE FROM SEKEM

The world is our classroom

Heliopolis University’s International Relations Office (HU-IRO) is the strategic gateway to the global stage for the HU community of students and staff. Guided by SEKEM’s sustainable development framework, the HU-IRO oversees international agreements, student exchanges, faculty training programs, and inbound global visits that seek to explore HU’s approach to higher education for sustainable development.

Students participate in semester exchanges, international internships, and semesters abroad, while faculty members engage in structured training programs across global universities and organizations. HU- IRO also hosts visiting students and organizes academic collaborations that connect Heliopolis University to global institutions.

For more information on Heliopolis University’s IRO, click here.

Tags:
6

Trade

When one export door closes, another opens

Global supply chain issues are forcing Egyptian exporters to make some tough calls. With freight and container ins. costs suddenly jumping by USD 2.5k-3k per shipment, many companies have simply paused sending goods to the Gulf and East Asia, Ahmed Zaki, secretary-general of the Exporters Division at the Federation of Egyptian Chambers of Commerce, tells EnterpriseAM.

A heavy blow: It is not good news, especially since exports to the Gulf — mainly food and engineering goods — were worth around USD 9 bn last year.

Pivoting to land routes: To survive the immediate crunch, some exporters are getting creative, ditching sea routes and pivoting to land transport through Jordan and Jeddah, which is saving them between USD 1.5k-1.9k per trip.

But as Zaki puts it, “opportunity is born from the womb of crisis.” While the Gulf market slows down, massive new doors are opening in Europe and Africa. European markets are currently struggling with heavy delays from their usual suppliers in China, India, and East Asia. African nations are also facing similar headaches with Chinese shipments. Because of this, both regions are now sending a huge surge of export orders our way.

Why it matters: This sudden boom isn’t just happening because Egypt’s currency makes goods cheaper. It is really about proximity and reliability. While other global routes are tangled up in delays, Egypt is close enough to ensure that products — especially food — actually arrive on time. Ultimately, this massive shift toward Europe and Africa is expected to easily make up for the revenue lost in the Gulf, we’re told.

Behind the scenes, the Central Bank of Egypt is keeping a close eye on the money, Zaki tells us. The CBE is ensuring that all the new USD coming in from these exports are channeled directly through the banking system, which prevents black market currency issues and keeps the local market perfectly stable as the country navigates this unexpected boom.

MEANWHILE- The International Federation of Freight Forwarders Associations has asked the Finance Minister to temporarily pause certain air freight fees — namely the Advanced Cargo Information system — hoping to lower transport costs and keep everyday prices from spiking at home.

Tags:
7

Moves

Goodbye, Herro Garg; Hello, Robert Silverman

Veteran US diplomat Robert Silverman was recalled to the diplomatic service to temporarily head the US Embassy in Egypt as its chargé d’affaires, according to a statement from the embassy. Silverman’s appointment in February places him at the helm of the embassy just as the US and Israel launch attacks on Iran. It also follows the recall of then-US ambassador to Egypt Herro Mustafa Garg in December amid a Trump administration shakeup that ended the overseas postings of 30 senior diplomats who were mostly appointed during the Biden administration.

Trump’s man in Cairo? It’s still a bit too early to tell. Silverman’s appointment on paper seems to be based on political experience and not simple loyalty to the current administration — as we’ve seen with other US appointments around the world. The Arabic, Hebrew, and Turkish speaker had a 27-year stint at the State Department with senior postings in Iraq, Saudi Arabia, Turkey, Israel, Egypt, and other nations. He left afterwards to co-found the Inter Jewish Muslim Alliance, head the Jerusalem Strategic Tribune as its editor-in-chief, and lecture on American foreign policy at a college in Israel.

While a firm defender of Israel, his views are still at odds with the current far-right administration in Tel Aviv. Silverman — who served for the IDF before entering the US diplomatic service — has criticized Israel’s far-right religious movements and argued for the liberal Zionist position of a two-state solution as a strategic necessity. The diplomat has also been a keen supporter of the Abraham Accords and the normalization of ties between Israel and Arab states throughout his career.

Tags:

8

EGYPT IN THE NEWS

Egyptian wanderlust

In a refreshing break from the war, Le Monde and the Financial Times are both out with pieces highlighting two of the country’s most expensive stays. While Mounir Neamatalla’s increasingly well-known Adrère Amellal ecolodge in Siwa is yet again getting ink, the salmon-colored paper is looking at the newest addition to the country’s list of high-end boutique stays: Villa Fayoum. The guesthouse in Fayoum’s Tunis Village, put together by Florian Amereller and Zeina Aboukheir, is part of a broader — and seemingly successful — push to diversify the country’s tourism market to also cater to higher-spending tourists looking for boutique stays.

Tags:
9

Also on our Radar

Raya Holding’s net income rises over 50% in 2025

Raya Holding saw its net income after minority interest rise 53% y-o-y to EGP 2.6 bn in 2025, according to the company’s latest financials (pdf). Revenues came in at EGP 63.8 bn during the year, marking a 41% y-o-y increase.

Raya Trade was the largest contributor to group revenues during the year, generating EGP 23.8 bn. Raya Information Technology followed with EGP 18.4 bn in revenues, up 70.0% y-o-y on the back of growing demand for digital transformation services and technology infrastructure solutions. The group’s fintech and NBFS arm Aman recorded EGP 9.6 bn in revenues, up 49.0% y-o-y, supported by the continued expansion of digital financial services and consumer financing offerings.

AND- The company’s board approved the establishment of two new subsidiaries, according to a disclosure (pdf) to the EGX. The first — Raya Workplace Management — will operate in the co-working and shared office space management sector, and the second will focus on consumer finance.

Tags:
10

PLANET FINANCE

A short-lived Hormuz squeeze could be a boon for some GCC economies and a curse for others

The war between the US/Israel and Iran has fundamentally shifted the economic calculus for the GCC. While the headlines scream “oil shock,” the reality on the ground is a decoupling of price benefits from volume risks for some GCC countries, resulting in different scenarios across regional economies, according to a Goldman Sachs report seen by EnterpriseAM.

How is that possible? For countries capable of rerouting their oil exports, oil prices — which have surged beyond USD 100 / bbl — are going to offset the downside from lower export volumes, Goldman Sachs explains. Even blockaded countries are seeing better-than-expected budget balances because the price of the oil they can get out is so high. However, Goldman Sachs cautions that this scenario does not factor in expenditure forecasts, as they “may increase due to an adoption of anti-cyclical policy and/or increased spending on defense.”

The diverters: Saudi Arabia, the UAE, and Oman are the most insulated. Saudi Arabia is successfully diverting 3 mn bbl / d — about two-thirds of its Strait of Hormuz exports — via Red Sea pipelines, meaning a mere 1% drop in exports. The UAE is rerouting approximately 1 mn bbl / d, resulting in a negligible 2% drop in oil exports, while Oman’s loading facilities sit safely outside the Strait, Goldman Sachs notes.

Yes, but: This is based on an assumption of just a one-week-long disruption in shipping through the Strait of Hormuz, before a gradual return to full capacity.

IN CONTEXT- The Strait of Hormuz typically accounts for around 25% of global seaborne oil trade and some 20% of global LNG trade, according to a recent research note from Deutsche Bank seen by EnterpriseAM. However, oil flows through the chokepoint have now collapsed to just 10-15% of their normal volume, according to Goldman Sachs.

The blockaded: Kuwait, Bahrain, and Qatar have zero capacity to divert shipments. The report shows that Kuwait and Bahrain are now expected to see their economies contract this year, with oil exports falling by 5%.

Global exposure: Despite the EU and China being the world’s biggest energy importers, the impact of oil price volatility is potentially limited due to their declining dependence on fossil fuels, according to Deutsche Bank. Crucially, the EU’s energy import markets are diversified, resulting in a diminished reliance on Middle Eastern energy supplies.

The outlook: Future forecasts depend entirely on how long the Strait of Hormuz remains closed. Under the base case scenario of a “short-lived” disruption where volumes recover over 28 days, global growth would shrink by 0.1 percentage points, according to another Goldman Sachs report seen by EnterpriseAM. However, if the closure persists and oil stays above USD 100 / bbl, global growth would be dragged down by 0.4 percentage points, the report warns.

MARKETS THIS MORNING-

Asia-Pacific markets are down sharply in early trading this morning, with South Korea’s Kospi down 7.8% and Japan’s Nikkei down 7.0%, after oil jumped above USD 100 / bbl for the first time in years. Over on Wall Street, it is shaping up to be a turbulent start to the week with futures in the red.

EGX30

46,774

-1.6% (YTD: +11.8%)

USD (CBE)

Buy 52.10

Sell 52.24

USD (CIB)

Buy 52.11

Sell 52.21

Interest rates (CBE)

19.00% deposit

20.00% lending

Tadawul

11,007

+2.1% (YTD: +4.9%)

ADX

9,903

-1.4% (YTD: -0.9%)

DFM

5,917

-3.2% (YTD: -2.2%)

S&P 500

6,740

-1.3% (YTD: -1.5%)

FTSE 100

10,285

-1.2% (YTD: +3.6%)

Euro Stoxx 50

5,710

-1.1% (YTD: -1.2%)

Brent crude

USD 116.80

+26.0%

Natural gas (Nymex)

USD 3.19

+6.1%

Gold

USD 5,159

+1.6%

BTC

USD 66,520

-1.1% (YTD: -24.1%)

S&P Egypt Sovereign Bond Index

1,030

+0.1% (YTD: +3.8%)

S&P MENA Bond & Sukuk

151.78

-0.3% (YTD: -0.1%)

VIX (Volatility Index)

29.49

+24.2% (YTD: +97.3%)

THE CLOSING BELL-

The EGX30 fell 1.6% at yesterday’s close on turnover of EGP 8.5 bn (32.1% above the 90-day average). International investors were the sole net sellers. The index is up 11.8% YTD.

In the green: AMOC (+15.8%), Egypt Aluminum (+13.2%), and Abu Qir Fertilizers (+11.6%).

In the red: Palm Hills Developments (-5.3%), Edita (-5.2%), and GB Corp (-4.9%).

Tags:

Our weekly deep dive into education in Egypt, from K-12 to post-secondary.

Published every Monday in EnterpriseAM.

Read Blackboard
11

BLACKBOARD

Egyptian edtechs are now crossing the Red Sea to mature

Egypt’s edtech startups are no longer just expanding to the Gulf to escape currency issues — they are actually doing it to mature as a business. While the search for hard currency is a practical factor, companies like Almentor and OBM Education are finding that the jump across the border is really a catalyst for their evolution.

Maturing fast: Omar El Barbary, founder and CEO of student career advising startup OBM Education, experienced this firsthand. He shared that jumping into the Saudi market played a massive role in “accelerating our maturity as a regional company.” The new environment forced them to build “stronger governance, clearer delivery standards, and a more scalable commercial and operational framework.”

Earning trust: For the video-based learning platform Almentor, the shift was transformative but required a lot of hard work. The company’s CEO Ihab Fikry explained that they were initially drawn in by the Gulf’s digital maturity and high content consumption, but earning trust was the biggest challenge, because the region “rewards execution, consistency, and measurable impact,” rather than flashy marketing. By deeply localizing their content and proving their worth, the move “elevated Almentor from a fast-growing startup into a regionally trusted learning infrastructure.”

Filling unmet needs: What makes the Gulf such a massive window for these startups is the glaring, unmet educational gaps they can step in to fill. Fikry points out a huge demand for engaging, Arabic-first lifelong learning, especially for professionals who need practical, market-ready skills. On the flipside, for students, El Barbary notes a real lack of career discovery and hands-on experiential learning — like internships — that actually prepare youth for the real-world job market.

Winning over investors: Surviving and thriving in the sophisticated Gulf market proves a startup has what it takes to handle different environments. Fikry points out that this cross-border success demonstrates “scalability, revenue diversification, and currency resilience,” proving to investors that the company has real “global optionality.”

Leaving Egypt behind? El Barbary made it crystal clear: “The GCC expansion did not replace Egypt — it complemented it.” Egypt’s huge, affordable talent pool makes it the absolute perfect ground for building and testing new products. Fikry shares the belief, adding that they use revenue from the Gulf to scale teams in Egypt and offer global exposure to local talent, creating a reinforcing loop.

Above and beyond: This strategy of setting a firm foot in Egypt as the creative, operational powerhouse and another foot in the Gulf as the giant stage to scale is paying off beyond just the Middle East. Fikry notes that succeeding in the high-expectation Gulf market acts as a “global credibility bridge” that sends strong signals to Europe and the US. By building this “scaling muscle,” as El Barbary calls it, these edtechs are refining their compliance now so that entering Western markets later will be “more intentional and less experimental.”

Tags:

CALENDAR

2026

MARCH

10 March (Tuesday): Capmas expected to release inflation data for February.

21 March: (Saturday): Eid El Fitr starts (TBC).

30 March - 1 April (Monday-Wednesday): Egypt International Energy Conference and Exhibition (EGYPES).

APRIL

2 April (Thursday): Monetary Policy Committee’s second meeting of 2026.

12 April (Sunday): Coptic Easter.

25 April (Saturday): Sinai Liberation Day.

MAY

1 May (Friday): Labor Day.

21 May (Thursday): Monetary Policy Committee’s third meeting of 2026.

27-29 May (Wednesday-Friday): Eid El Adha (TBC).

JUNE

30 June (Tuesday): National holiday in observance of the June 30 Revolution (TBC).

JULY

9 July (Thursday): Monetary Policy Committee’s fourth meeting of 2026.

23 July (Thursday): National holiday in observance of Revolution Day (TBC).

AUGUST

20 August (Thursday): Monetary Policy Committee’s fifth meeting of 2026.

26 August (Wednesday): National holiday in observance of Prophet Muhammad’s birthday (TBC).

SEPTEMBER

15 September (Tuesday): IMF to hold its eighth review of Egypt’s USD 8 bn EFF arrangement.

24 September (Thursday): Monetary Policy Committee’s sixth meeting of 2026.

27-29 September (Sunday-Tuesday): Global Conference on Population, Health, and Human Development.

OCTOBER

6 October (Tuesday): Armed Forces Day.

29 October (Thursday): Monetary Policy Committee’s seventh meeting of 2026.

DECEMBER

17 December (Thursday): Monetary Policy Committee’s eighth meeting of 2026.

EVENTS WITH NO SET DATE

Early 2026: Passenger operations on the New Administrative Capital-Nasr City monorail scheduled to begin.

1Q 2026: Trial operations for the Ain Sokhna-Sixth of October section of Egypt’s first high-speed rail line scheduled to begin.

May 2026: End of extension for developers on 15% interest rates for land installment payments.

2H 2026: Operations at Deli Glass Co’s new USD 70 mn glassware factory kick off.

2027

20 January-7 February: Egypt to host the African Games.

April 2027: Tenth of Ramadan dry port and logistics hub to begin operations.

EVENTS WITH NO SET DATE

2027: Egypt to host EBRD’s annual meetings.

2027: Egypt-EU Summit 2027.

End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.

September 2028: First unit of the Dabaa nuclear power plant begins operations.

Now Playing
Now Playing
00:00
00:00