Good afternoon, friends, and welcome to this busy Monday afternoon. More news is starting to hit our sphere as the international media comes back to work after their weekend.
Speaking of new, we launched our UAE edition this morning. Think of it as the UAE analogue to your morning read in Egypt — your essential report on business, finance, the economy, and regulation in one of the world’s most vibrant and exciting economies.
EnterpriseAM UAE is produced in the United Arab Emirates and in Egypt by the same team that brings you EnterpriseAM and EnterprisePM in Egypt as well as our MENA industry reports, Enterprise Climate and Enterprise Logistics.
** Stay tuned for the launch later this month of EnterpriseAM KSA. You can tap or click here if you’d like to be added to our list for launch day.
THE BIG STORY TODAY
Ezdehar announces purchase of minority stake in Yodawy: Local private equity firm Ezdehar Management has acquired a minority stake in pharmacy benefits management platform Yodawy, investing some USD 10 mn into the company, Ezdehar said in a press release (pdf). Ezdehar’s primary capital investment will focus on supporting Yodawy’s growth plans through expanding its client base, tech-enabled prescription capabilities, and aiding in solidifying Yodawy’s position in the healthtech sector in Egypt and the region, the company said.
THE BIG STORY ABROAD
Coverage of the battle for the US’ Republican party’s presidential nomination in the first nominating state is still leading the conversation in the international press this afternoon withcandidates trying to secure Iowa’s support in the final stretch of campaigning. Former President Donald Trump still holds a major lead and hopes to secure a victory tonight, putting him on track to oppose incumbent Joe Biden in the November election. The real battle is between Nikki Haley and Ron DeSantis as they fight for second place, the spot Haley currently holds. They’ll have to make up for lost time after last week’s campaign efforts were halted due to intense weather conditions, especially DeSantis who will likely face pressure to drop out of the running if he fails to move up the ranks. (Financial Times | Associated Press | Washington Post | Wall Street Journal)
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As good as gold: Beltone Asset Management has been awarded the management of a newly launched gold investment fund that aims to raise EGP 10 mn by offering 100k certificates at a nominal value of EGP 100 apiece.
Madbouly signals importance of industry with monthly visits to manufacturers: The prime minister’s regular meetings with manufacturers comes in a bid to draw attention to Egypt’s natural position as an export hub serving Europe, Africa, the Middle East and beyond.
A grim milestone: On day 100 of the war on Gaza, Israel’s bombardment of the enclave and ground offensive has killed 24k people, injured over 60k injuries, and internally displaced over 85% of the population.
☀️ TOMORROW’S WEATHER- Expect another sunny day with a high of 19°C in the afternoon and a low of 12°C later in the evening, according to our favorite weather app.
Thanks to influencer marketing and the “bandwagon effect,” children’s preferences have become more pricy. Long gone are the days where the latest in tweendom came from magazines and TV shows, nowadays, social media, and TikTok in particular, has made them desire items that could put the average parents in debt, according to the Washington Post.
Social media has amplified brands’ visibility to all demographics. Teens spend an average of almost seven hours per day on social media, most of it on TikTok. So an ad for a high-end facial moisturizer that teenage skin wouldn’t really need, or a pair of sneakers — when they already have two of the same type — would be instantly appealing after being advertised repeatedly to a teenage viewer. Add their favorite influencer sporting the product to the mix and teens are sold. Social media allows brands to bank on this visibility — giving them direct exposure to consumers and consistently gaining instant feedback and tracking trends for the future purchasing power.
There are two things that have been indisputable from times of old: First, that teens have always had the desire to belong, and feel this sense of belonging by owning specific items, gadgets, and styles (remember the T-Birds and Pink Ladies jackets, or the Lisa Frank paraphernalia that had many of us in a chokehold?) And secondly, when teens want something you have no option but to get it — or fall victim to their wrath of attitude and meltdowns. So, when they see the influencer they trust using a specific product or collecting it, their cycle of desire begins and this is what the brands are utilizing, according to the post’s article.
The shift from traditional consumerism to fandom culture is clear, with brands focusing on marketing items as collectables to display have become status symbols on social media to garner popularity or to be “accepted.” You don’t need to have just one of the products — you need to have them all.
Succession swag going once, going twice… The monumentally popular TV show Succession — which came to an end last May — is giving its fans more exposure after what was a cathartic conclusion to the 2.9 mn viewers that tuned in to watch the series finale. Heritage Auctions set up online auctions last Saturday for 236 props from the show.
…and SOLD. The infamous “ ludicrously capacious bag,” which made its debut on screen during the show’s finale season, was among the lot — and unsurprisingly one of the more popular items on sale. The Burberry bag, whose commercial price stands at USD 2.9k, was sold for a whopping USD 18.7k.
Unfortunately for Succession fans here at home, none of the available items fit within ourcurrent credit card limits, with the most affordable item going for USD 516. The good news is that you can buy the same items (just not the ones used on the show) for way more wallet-friendly prices. For example, one of Roman’s outfits, which sold in auction for USD 1.8k, was available at Walmart for USD 14.
The online auction raked in a total of USD 627.8k from over 2k bidders. Each item found a new home, though we’re not sure what the new owner of the knockoff Goofy mascot from the Roy family’s theme park (sold for USD 7.8k) intends to do with it.
[SPOILER WARNING] The most expensive item was…Roman Roy’s pink index cards, on which he had written the eulogy for his father Logan Roy’s funeral. The cards sold for USD 25k, but rumors are the owner is already willing to let them go to the tune of USD 31.2k, pocketing a cool USD 6.2k.
Hala Khasa is another original Watch It production that is… well, worth watching. The 10-episode drama series follows the story of Nadim (Taha Desouky), an aspiring lawyer with autism, who joins a prestigious legal firm where he navigates complex cases using his talents.
The show is inspired by Korean show Extraordinary Attorney Woo (although you may also see parallels with The Good Doctor), where his peers initially express reservations about his hiring due to his being a “special case.” However, when he’s brought on the team, he proves to be a great asset.
The cast is enough for you to know that it is a serious production: Aside from Taha Desouky, who has made an impressive transition from his usual comedic appearances to drama, he’s accompanied by Ghada Adel as Amani El Naggar, the firm’s owner, Hassan Abouelrouss as an associate, and many more actors who have made the series enticing.
WHERE TO WATCH IT- You can watch Hala Khasa on Watch It. Two episodes are out every Wednesday, with the last episode set to drop on Wednesday, 31 January.
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⚽ It's getting fierce in the African Cup of Nations: The first round of Afcon continues today with three matches: In Group C, title holder Senegal kicks off their journey with a match against Gambia at 4pm, and Cameroon will play Guinea at 7pm. In Group D, Algeria will begin their leg in the tournament by playing Angola at 10pm.
Finding authentic Chinese food is a tricky task but we think this place is enough to satisfy your cravings. Their restaurant is very spacious and the menu is overwhelming, so to avoid confusion we decided to stick to the staples that the usual local clientele would go for.
We tried the dumplings, beef stir fry noodles, and their famous sweet and sour chicken:The beef stir fry noodles arrived sizzling and oozing with flavor. We could smell — and later taste — the umami with some colored peppers. The beef also tasted fresh and soft alongside the al dente noodles. Their sweet and sour chicken might taste a bit like ketchup for some but, as expected, it was a hit with the majority at the table. Both contenders for the clean plate club.
The dumplings were not what we expected, though, asthe menu did not mention what was inside the pastry. They did tell us that it would be stuffed with beef — however, the taste was far from it — but the dipping sauce made it go down.
NOTES- The surrounding area can be off-putting for some and the prices per dish range from EGP 150-300 but it’s good value for money as the portions compensate for it. As a bonus, Egyptian nationals get 10% off on the weekend.
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🎤 OUT AND ABOUT- (all times CLT)
ART-
Picasso Art Gallery has opened its doors to solo exhibitionist Hicham Rahma. Each of his paintings will exhibit “mixed tales with rich folkloric elements” with “magical strangeness and astonishing interaction.” This exhibition will open tonight at 7pm and will continue to be available for the public daily from 11 AM to 9 PM, except for Sundays, until Friday, 2 February. Click here for more information.
Doodlers, unite. If you’re interested in learning how to tell stories through comic form? Comics artist Magdi El Shafai is teaching a Flash Masterclass this Thursday, 18 January from 7pm at 302Labs. Learn how to storyboard, perfect dialogue for the medium, and hone your panel design skills. Register here.
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, 6February. 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.
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.
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 next 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.
Brooklyn Babies are bringing Lana del Rey to Cairo. The tribute band will perform at El SawyCulturewheel on Thursday, 25 January from 7-9pm. Click here to book your tickets.
Hamza Namira will be dropping his album at a concert hosted by ZED park on Friday, 9 February at 8pm. The park’s gates will open at 2pm but the concert gates will open later at 6pm. You can get your tickets here, with the option of regular standing, VIP standing, or VIP seated.
FILM-
The Panorama of European Film is back. The annual awaited event for film lovers is running from Thursday, 11 January to Saturday, 20 January. Films will be screened at Zawya, Cima Arkan, Point 90, and Zamalek Cinema. You can find the schedule as well as other important information here.
Henedy hive, rise up. Cairo Jazz Club 610 is hosting a watch party dedicated to comedy icon Mohamed Henedy tonight at 8pm. The double bill will feature Se3eedi Fi El Gam3a El Amrikeyya and Hamam Fi Amsterdam. Message CJC between 12-8pm to secure your seats.
FOOD-
Villa Belle Epoque wants to keep you warm this winter with their cheese fondue brunch every Monday and Wednesday until 28 February from 2-6pm. The meal is reservation only and click here to find out how to book your spot.
SPORTS-
Watch the African Cup on the big screen. Mivida is hosting The Stadium, screening upcoming matches from today through to this Thursday and again on Saturday and Sunday. The Lake District is within arm’s reach in case you need to fuel up before or after the matches. More of a doer? The Stadium is also hosting sports activities you can partake in. You can book your tickets through Ticketsmarche.
The Cairo Half Marathon is taking place in less than two months: Mark your calendars for Friday, 1 March, and start stretching. Cairo Runners is bringing back a fan favorite, offering 5km, 10km, and 21km runs as well as a Family Run. 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.
EVENTS-
Listen up, brainiacs. Darb15 is bringing Trivia Night back. Grab 3-5 friends and head over to Maadi this Thursday, 18 January to test your general knowledge. If you do well enough, there may be some prizes in it for you. Interested? Book ahead of time through their Facebook page.
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💡 UNDER THE LAMPLIGHT-
Another story of women in science is here with Mischievous Creatures. Fully titled Mischievous Creatures: The Forgotten Sisters Who Transformed Early American Science is the previously untold story of two sisters who spurred the growth of American Science. Historian Catherine McNeur sheds light on the lives of Margaretta Hare Morris, an entomologist known for her research on cicadas and other insects, and Elizabeth Carrington Morris, a botanist and illustrator who supplied specimens to leading experts in the field, in her thoroughly researched text.
You probably didn’t know this, but the Morris sisters played a pivotal role in making American science what it is now. This isn’t an unusual occurrence, women in science have historically been denied credit for work, with the phenomenon persisting even now. The Morris siblings know this all too well as unsung pioneers of the privatization of the field, which later enforced the underappreciation of women for generations to follow.
NOTE- If you want to read more about this occurrence, take a look at our piece on the MatildaEffect, a term coined by Margaret W. Rossiter to describe the invisibility of women in science.
The EGX30 rose 1.1% at today’s close on turnover of EGP 5.3 bn (55.6% above the 90-day average). Foreign investors were net buyers. The index is up 5.45% YTD.
In the green: Eastern Company (+4.8%), Credit Agricole (+3.5%) and Orascom Development (+2.5%).
In the red: Heliopolis Housing (-2.7%), Oriental Weavers (-2.0%) and B Investments (-1.6%).
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