A deep dive into Egypt’s blue economy

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WHAT WE’RE TRACKING TONIGHT

Trump’s Iran-LA comments draw California backlash

Good afternoon, friends, and welcome back — one more day stands between us and the long weekend commemorating the 6 October war. Today we look at Egypt’s blue economy: the Suez Canal, fisheries, coastal tourism, desalination, and the rest — and why the government is trying to measure and manage them within a single framework. Elsewhere in today’s issue: we revisit Dark Solution, which has added pizza to its menu, and we have thoughts. It’s also a busy night on the pitch, and we have the full schedule below.

But first, the news…

THE BIG STORY ABROAD-

🌐 US President Donald Trump is once again making headlines with comments that have sparked concern and outrage in the US. Trump suggested Iran could “take out” Los Angeles and San Diego while addressing a crowd in Nebraska yesterday, telling supporters: “They can take out a city. Let them take out Los Angeles. Let them take out San Diego.” The US president then said he hoped to see a “tremendous victory” in the upcoming November midterm elections and described higher prices resulting from the war with Iran as a “small price to pay” for keeping the world and the US safe.

Trump’s comments were then condemned by California Governor Gavin Newsom, who called Trump “deranged and dangerous.” Other California leaders also denounced the remarks.

^^Read more on: Reuters, The Guardian, and CNN.

MEANWHILE- France is facing an unprecedented wave of student protests, with demonstrations already reported in Paris, Marseille, Lyon, and Strasbourg. Almost 2k schools have been blockaded across the country, with around 200k people, from high-school students to parents and trade unions, expected to take part in what they call their “day of mobilization,” as protests continue demanding more resources for the country’s struggling education system.

The movement, which began two weeks ago in Paris, has occasionally turned violent, with clashes between protesters and riot police leaving protesters, police officers, and school staff injured. More than 5k people have been taken into police custody, most of them minors with no previous criminal records.

^^Read more on: CNN, BBC, Reuters, The Guardian, and Associated Press.


The Gulf’s sovereign funds and largest companies are committing bns to AI infrastructure at home and to AI companies in the US and beyond. EnterpriseAM AI + Innovation reports on where that capital goes, who controls it, and what it is actually buying.

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It’s sharp, analytical, and skeptical journalism that ignores hype and is laser-focused on informing our readers, not pleasing our sources.

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

  • MNT has its first IPO anchor in CIB: Commercial International Bank (CIB) signed on as a cornerstone investor for up to EGP 2 bn worth of shares in MNT-Halan’s ongoing IPO, roughly a fifth of the 20% stake on offer if the Egyptian arm prices near the USD 1 bn valuation bankers were pitching in June. The agreement is dated 24 September, about a week before MNT issued its intention to float;
  • Our friends at EFG Holding have three more EGX-bound IPOs up their sleeve this year, one of which Group CEO Karim Awad called “a massive game changer” for the bourse. In USD terms, the offering would probably rank among Egypt’s largest listings in the last 15-20 years;
  • Orange Egypt is weighing whether to buy a consumer finance company, partner with one, or build its own. CEO Hesham Mahran calls consumer finance one of his priorities for the coming years, saying the company has everything it needs to become “one of the big players in consumer finance.” The push runs alongside a parallel one into IT services, where revenue has climbed to “close to 50% or more.”;
  • The Egyptian Refining Company is piloting an AI agent that predicts equipment failures before they happen. The agent could help solve a big problem — every day its refinery is offline costs USD 5 mn in lost income. A restart takes seven days, so a single outage costs USD 35 mn.

☀️ TOMORROW’S WEATHER- It’s warming up a tad in Cairo tomorrow, with temperatures peaking at 30°C under hazy sunshine before dropping to a breezy 21°C in the evening, according to our favorite weather app.

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Enterprise explains

Egypt is building a blue economy framework — here’s what it’s worth and what’s at stake

🛳️ Egypt has a broad base of marine and water resources — the Suez Canal, ports, maritime transport, fishing, aquaculture, coastal tourism, desalination, renewables, and ecosystem protection. Despite the economic weight these activities carry, they have long been managed and measured as separate sectors, never integrated into a single coherent economic framework.

That’s starting to change. The government is now working to build a more integrated institutional structure for the blue economy, in partnership with the World Bank and international partners, while simultaneously preparing a national sector strategy and conducting detailed studies to measure its contribution to GDP.

What are blue economies?

The blue economy refers to the sustainable use of ocean and water resources to drive economic growth, improve livelihoods, and create jobs — while preserving the health of marine ecosystems. There is no single globally agreed definition of which sectors it covers, but the core idea is straightforward: balance economic gains with the preservation of natural resources.

The scale is significant. Ocean-based economic activity contributes around USD 1.5 tn annually to the global economy, according to UN estimates, with projections suggesting that figure could reach USD 3 tn by 2030.

In the case of Om el Donia, the concept extends beyond coastal and maritime areas to include inland water resources. The country’s blue economy sectors are as follows:

  • Core sectors: fishing, aquaculture, maritime transport, ports, the Suez Canal, and coastal tourism;
  • Supporting sectors: logistics, shipbuilding and maintenance, and river transport;
  • Emerging sectors: marine biotechnology, renewable energy, seawater desalination, and wastewater treatment.

The breadth of that mix matters. Egypt’s blue economy revenues span Suez Canal income, food security support through aquaculture, foreign currency from coastal tourism, and employment — while the sustainability of it all depends entirely on the health of coral reefs, fisheries, beaches, and water quality.

By the numbers

No official estimate of the blue economy’s GDP contribution currently exists, but its economic scale can be mapped through its components.

The Suez Canal is the clearest example of a water resource functioning as a direct economic asset. Canal revenues reached around USD 4.8 bn in FY 2025/26 — a 23% increase over the previous year’s USD 3.6 bn — while the Suez Canal Economic Zone posted its highest revenues on record at around EGP 15.9 bn in 2025/26.

Fisheries produced around 2 mn tons in 2025, with aquaculture accounting for 1.6 mn tons — roughly 80% of total output — and natural catch making up the remaining 426k tons. The Agriculture Ministry put Egypt’s fish self-sufficiency rate at around 93.5%.

Tourism received around 19 mn visitors in 2025, a 21% increase over the prior year, generating revenues of nearly USD 18.5 bn. The numbers kept climbing into 2026: 12.7 mn visitors between January and August, with revenues of around USD 12 bn. Coastal tourism alone accounts for more than 90% of all tourism activity.

Desalination has seen a step-change in capacity — from around 84k cbm per day in 2014 to over 1 mn cbm per day in 2026. The government is currently implementing 14 new private-sector projects with a combined target capacity of 2.36 mn cbm per day.

That expansion comes with trade-offs. Desalination is energy-intensive, and the disposal of the highly saline brine it produces creates separate environmental challenges. The economic and environmental case for scaling it further depends on more efficient technology, lower-emission energy sources, and more sustainable brine management.

Energy, ports, and maritime services: Renewable energy is among the most significant growth vectors — through coastal wind farms and green hydrogen production tied to ports and strategic export hubs. The government is also modernizing port infrastructure and linking it to logistics and industrial zones, shifting ports from transit points into integrated hubs offering storage, ancillary industries, maintenance, and multimodal transport services.

Environment as a metric

What happens if the resources underpinning all of this degrade? The environmental and economic tracks of the blue economy are not separate — the first is a direct condition for the second. Egypt’s coastal areas already face mounting pressure from urban expansion, tourism, industrial activity, port operations, maritime transport, and aquaculture, making integrated coastal zone management a practical necessity rather than an aspiration.

Climate change, coastal erosion, and the damage they cause to beaches, infrastructure, and coastal residential and agricultural land add further pressure. The value of the blue economy is therefore not just what water-based activities generate — it is also the cost of maintaining the resources and ecosystems those activities depend on.

Egypt’s shift toward a blue economy is no longer a developmental aspiration. It is a structural response to converging environmental and economic pressures. The real test is whether the concept can be translated into practice — and whether the balance between increasing economic returns and preserving natural resources can actually be struck.

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EAT THIS TONIGHT

Heliopolis’ Dark Solution now serves pizza… and we have thoughts

🍕☕ Dark Solution, since taking Egypt’s coffee scene by storm a few years ago, has been a staple for many Cairene coffee fiends. Great coffee, a wide range of pastries and desserts, and the occasional matcha concoction have cemented it as a serious contender — but the beloved specialty coffee shop has recently decided to venture into new territory: one of which is pizza.

But first, a little scene-setting: Dark Solution’s Heliopolis branch may be more on the down low, but it definitely has character, with plenty of outdoor seating that make it a pleasant spot to work, read, or just get your daily dose of Vitamin D. This particular branch’s overall atmosphere is calm and unhurried. The staff is friendly and helpful, and the menu covers a variety of caffeinated drinks, while a large Wunder Bakery display offers a range of pastries, desserts, and chocolate.

The new menu (and what we liked): The newest additions to the menu include a Heliopolis-only selection of pizzas, salads, manakish, and bagels. For our latest visit, we simply had to give the former a shot. We tried the hot honey diavola pizza, which comes with a light, airy crust, quality cheese, fresh housemade marinara, and a generous amount of pepperoni. It arrived hot straight from the oven and had the well-loved formula of a thin Neapolitan base and a thick crust. While we thoroughly enjoyed the pie, our only comment was that it lacked the heat expected from the hot honey and needed an extra sprinkle of the honey itself.

The beverages: The mochas are a highlight among the drinks. The hot, iced, and blended versions are rich and creamy. The blended iced mocha comes with a strong coffee base, and instead of relying on chocolate syrup, Dark Solution blends finely chopped chocolate into the drink, giving it a deeper chocolate flavor. The iced teas are another solid choice: both the peach and raspberry versions are strong and refreshing without being saccharine. The cloud coconut matcha is similarly restrained, with good-quality matcha that doesn’t overpower.

The desserts: The almond croissant was generously sized, flaky, and filled with a rich crushed-almond paste. It’s a little on the sweet side, but it works well for a pastry designed to accompany coffee.

The verdict: Dark Solution’s Heliopolis branch is an easy place to settle into for a few hours. The atmosphere and coffee make it particularly suitable for spending the day, while the expanded breakfast-to-dinner menu gives plenty of reasons to stay beyond the first cup. Go for the coffee, stay for the pizza.

WHERE TO FIND IT- You can find Dark Solution’s Heliopolis branch in Almaza. They also have branches in D5, New Cairo, Zamalek, and Maadi, though these don’t have the same extended menu. Dark Solution also delivers on Talabat.

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Sports

France come from behind to stun Belgium 4-1 as Croatia host Spain and England face Czech Republic tonight

⚽ It’s another busy day on the pitch, with plenty of action to keep us entertained — and two fixtures in particular in the UEFA Nations League that we’ll be stocking up on snacks for.

In the AFCON qualifiers, Group B resumes with Angola hosting Malawi at 10pm on beIN Sports Max 1. Angola are still searching for their first W of the campaign after being held 0-0 by the Pharaohs in Matchday 1. Malawi, meanwhile, take the field with three points already in the bag. For Angola, a victory tonight is the only way to stay in contention.

In the UEFA Nations League, Matchday 4 has two standout rematches. England host Czech Republic at 9:45pm on beIN Sports 2 — the Three Lions, who crushed Croatia 7-0 on Saturday, are looking to extend their run against a Czech side still without a point. Then at the same time, Croatia host Spain on beIN Sports 1 — a chance for Zlatko Dalić’s side to avenge both the 4-1 defeat in Seville and England’s recent thrashing, and for Spain to push further clear at the top of Group A3 with a fifth consecutive victory.

Other UEFA Nations League fixtures underway tonight:

  • Kazakhstan vs. Faroe Islands — 5pm;
  • Albania vs. San Marino — 9:45pm;
  • Belarus vs. Finland — 9:45pm;
  • Estonia vs. Iceland — 9:45pm;
  • Luxembourg vs. Bulgaria — 9:45pm;
  • Moldova vs. Slovakia — 9:45pm;
  • Scotland vs. Slovenia — 9:45pm;
  • Switzerland vs. North Macedonia — 9:45pm.

💡 All UEFA Nations League fixtures will be broadcast on beIN Sports channels. Check out the full schedule here.

🥅 ICYMI-

Yesterday was Zidane’s night — eventually. France trailed Belgium 1-0 for 42 minutes at the Stade de France, with Dodi Lukébakio racing onto Romeo Lavia’s incisive ball to give the visitors what looked like a deserved lead. Then France’s bench changed the game: Doué equalized in the 77th minute, Cherki added a second four minutes later, and Olise — who had already forced a save — struck twice in the closing minutes to complete a stunning 4-1 comeback.

All four French goals came from substitutes. Mbappé was absent through injury, with Dembélé captaining the side. Zidane’s depth proved the difference and gave him his first home victory as France’s coach. France are now three points clear at the top of Group A1.

Italy’s victory over Turkey in Bologna was a clear-cut 3-1: Scamacca opened, Turkey equalized 35 minutes later, and Calafiori and Pio Esposito sealed it for Italy late. Turkey remains pointless at the bottom of the group.

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Mark Your Calendar

El Capo takes over The Village this Thursday… and sushi is included

🎤 Up for a night of Hamid El Shaeri classics — with some sushi on the side? El Capo is heading to The Village in Sheikh Zayed on Thursday, 8 October, for a live set of his beloved hits. The concert starts at 10pm, with tickets available through TicketsMarché — and table tickets come with a full sushi platter.

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GO WITH THE FLOW

What the markets are doing on 6 October 2026

The EGX30 fell 0.5% at today’s close on turnover of EGP 9.1 bn (20.7% below the 90-day average). Local investors were the sole net buyers. The index is up 27.4% YTD.

In the green: AMOC (+3.3%), EFG Holding (+2.8%), and E-finance (+2.4%).

In the red: Misr Cement (-5.8%), Qalaa Holdings (-3.3%), and Juhayna (-2.7%).


🗓️ OCTOBER

6 September - 30 October (Sunday-Friday): Khayal Mareed at Theatro Arkan.

21 September - 20 October (Monday - Tuesday): International Flower Exhibition at Al Horreya Garden, Zamalek.

6 October (Tuesday): Armed Forces Day.

8 October (Thursday): Ragheb Alama at Porto Sokhna.

8 October (Thursday): Hamid El Shaeri at The Village, Sheikh Zayed.

8 October (Thursday): Exclusive Material Tryout by Mohamed Helmy at Theatro Arkan.

8 October (Thursday): Marassi Endurance Festival at Marassi, North Coast.

8-10 October (Thursday-Saturday): Genre-crossing workshop: We Are Not Afraid to Love with Nur Turkmani and Mai Serhan at Ardi, Dahshur.

8-11 October (Thursday-Sunday): Starlight Festival in partnership with Visa at The Great Pyramids of Giza.

9 October (Friday): Abdelrahman Mohamed’s Man3an Lel Ehrag at Teatro 90.

10 October (Saturday): El Leila El Kebira at Teatro 90.

11 October (Sunday): Tamer Ashour Fundraising Concert at Al Qubaah Palace.

11-13 October (Sunday-Tuesday): Crowd Gigs by Mohamed Helmy at Theatro Arkan.

11 October - 2 November (Sunday-Monday): Downtown Contemporary Arts Festival (D-CAF).

11 October - 8 November (Sunday-Sunday): Cairo International Art District by Art D’Egypte at Downtown Cairo.

13-16 October (Tuesday-Friday): CIB Egyptian Squash Open at Flower Park, Pyramids of Giza.

15-23 October (Thursday-Friday): El Gouna Film Festival.

16 October (Friday): Tul8te at Al Manara Arena.

16 October (Friday): Omar Khairat at Fustat Festival.

16 October (Friday): Cairo Vintage Souq at The Greek Campus Downtown, El Tahrir.

16-17 October (Friday-Saturday): GEM Family Weekend at the Grand Egyptian Museum.

16-17 October (Friday-Saturday): Ultra Relay Run by The TriFactory at AUC, New Cairo.

16-17 October (Friday-Saturday): Egypt Coffee Festival at Kamelizer, District 5.

17 October (Saturday): Amr Selim at Teatro 90.

17 October (Saturday): Steps Summit at Sodic Sports Club, Sodic Eastown.

17 October (Saturday): Konnect Summit at The Greek Campus, El Tahrir St.

17-24 October (Saturday-Saturday): Turathna Exhibition at Egypt International Exhibition Center, New Cairo.

22-24 October (Thursday-Saturday): Longines Global Champions Tour at The Pyramids of Giza.

23-24 October (Friday-Saturday): Sukun’s Tulua Wellness Festival at IL Monte Galala, El Sokhna.

23 October (Friday): Alaa El Sheikh’s Play Crowd Vol.02 at Teatro 90.

24 October (Saturday): Blue 25th Anniversary Tour at New Capital.

28-31 October (Wednesday-Saturday): Egypt’s Cheese Festival at Al Horreya Garden, Zamalek.

29 October (Thursday): Fatma Said at the GEM.

30 October (Friday): Fustat Festival: Ekhtarna Lak with Hisham Abbas, Hamid El Shaeri, Mohamed Fouad, and Ehab Tawfik.

31 October (Saturday): Aziz Maraka at E7kky Festival at Bermillan Mall, Sheikh Zayed.

NOVEMBER

2-7 November (Monday-Saturday): Barbara O’Neill Wellness Journey at Sheraton Miramar Resort, El Gouna.

4 November (Wednesday): Angham at the New Opera House in the City of Arts and Culture.

5 November (Thursday): Gala De Danza at the Grand Egyptian Museum.

5 November (Thursday): Nour Hajjar Stand up Comedy show at Teatro 90.

5-7 November (Thursday-Saturday): Cairo Jazz Festival at AUC Tahrir Square.

6 November (Friday): Angham at the New Opera House in the City of Arts and Culture.

6 November (Friday): 20 Years of Ramy Sabry at El Arena.

7 November (Saturday): Collective Coffee Summit at East Walk Mall.

11-20 November (Wednesday-Friday): Cairo International Film Festival at Cairo Opera House, Zamalek

13-15 November (Friday-Sunday): Cairo Comix Festival at Mahmoud Mokhtar Cultural Center, Zamalek.

12-14 November (Thursday-Saturday): Max Amini at St. Regis, New Capital.

14 November (Saturday): Trauma comedy special by Momos at CJC 610.

19-28 November (Thursday-Saturday): Cairo Design Week.

20 November (Friday): Saad El Oud at Ewart Memorial Hall, AUC Tahrir Square.

21 November (Saturday): El Gouna Half Marathon.

28 November (Saturday): Shakira at The Great Pyramids of Giza.

DECEMBER

3 December (Thursday): Amr Diab at Al Manara Arena.

4 December (Friday): Ghostly Kisses at Zed Park, Sheikh Zayed.

4-12 December (Friday-Saturday): El Gouna Photo Week at Marina Abu Tig 2, Main Festival Hub.

11-12 December (Friday-Saturday): The Marakez Pyramids Half Marathon at The Great Pyramids of Giza.

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