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Tech on a budget

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WHAT WE’RE TRACKING TONIGHT

EGP slides to record low of 52 against the USD

Good afternoon, friends. We hope you had a restful weekend, as it looks like we’re in for another packed week in the press. In today’s issue, we take a look at Apple’s new budget-friendly line-up, explore how rising electricity prices are making smart appliances popular, and take a look at a promising Ramadan comedy.

So, when do we eat? Maghrib prayers are at 5:59pm in the capital, and you’ll have until 4:46am tomorrow to hydrate and caffeinate ahead of fajr.

THE BIG STORY TODAY-

📍 The EGP slid to a record low of EGP 52 against the USD in Sunday’s midday trading, as a fresh wave of hot money outflows and a global oil spike to USD 117 per barrel put Egypt’s reform program to the ultimate test. Banking sources tell us the situation remains within “safe limits,” noting that exiting investors are absorbing exchange rate losses of around 7% due to the currency’s flexibility, although the EGP could weaken toward EGP 54 by the end of the week if geopolitical tensions persist.

At the banks: The greenback was trading at EGP 52.08 (buy) and EGP 52.18 (sell) at the National Bank of Egypt (NBE). Private sector lenders, including ADIB Egypt, saw rates climb as high as EGP 52.25 (sell) by midday.

The fiscal fallout is already being felt, with officials studying potential temporary adjustments to fuel prices to preserve the government’s path toward full cost recovery, while also weighing a “temporary” 10-15% increase for the highest electricity consumption brackets should the crisis drag on. Meanwhile, the Finance Ministry is conducting a final review of the upcoming budget amid mounting debt service pressures and expectations that Egypt could secure emergency support from the IMF and the World Bank.

^^ We’ll have more on this story in tomorrow’s edition of EnterpriseAM.

THE BIG STORY ABROAD-

🌐 As the US-Israel-Iran war escalates, US retail gasoline and diesel prices soar amid restricted global fuel exports. Fuel surged over 10% this week as oil prices climbed. Meanwhile, shares of Saudi oil giant Aramco jumped 5% intraday on Sunday — its highest surge since 2023 — as global oil supply comes under pressure after the UAE and Kuwait cut oil production on Saturday.

^^Read more on: Reuters and Bloomberg.

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

  • The Madbouly government isn’t backing away from plans to sell a stake in Banque du Caire, even as the US-Israeli war on Iran intensifies. Officials are talking amongst themselves about a valuation for the bank that feels comfortable and are eager to see investment bankers line up cornerstone investors;
  • The Transport Ministry is sending the Administrative Capital for Urban Development (ACUD) an EGP 1 bn bill to help offset the costs of extending the light rail transit (LRT) system into the new capital;
  • The government will focus on practical reforms that make it easier to operate and invest in Egypt. Investment and Foreign Trade Minister Mohamed Farid outlined a reform agenda centered on cutting bureaucracy, digitizing services, improving economic data, and supporting exporters and entrepreneurs.

enterprise

*** It’s Inside Industry day — your weekly Sunday briefing on all things industrial in Egypt. Inside Industry explores what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, land allocation, industrial processes, supply chain management, labor, automation and technology, inputs and exports, and regulation and policy.

In today's issue: We take a look at how Egypt’s rising power bills are forcing a tech revolution, turning energy-efficient appliances from luxury items into tools for financial survival.

🌤️ TOMORROW’S WEATHER- Keep your favorite sweater handy, the cool weather isn’t going anywhere just yet. In the capital, we’re in for a high of 21°C and a low of 10°C, according to our favorite weather app.

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TECHNOLOGY

Is Apple about to bite a massive chunk off the market?

🍎 Apple has announced a series of new gadgets, including two new entrants into its budget-friendly line-up, and it’s all the tech industry can talk about. Alongside the introduction of an M4-powered iPad Air, new Studio Displays, and M5-powered MacBook Pros, the California-based tech giant dropped the brand new iPhone 17e … and a USD 599 MacBook Neo. Needless to say, it seems the market is in for a shake-up. Let’s take a look.

First up, the 17e

An upgrade to Apple’s 2025 budget-friendly model, the iPhone 16e, the 17e one-ups its predecessor and offers most of what the flagship 17 boasts. Right off the bat, you’re getting more bang for your buck, with double the storage at the same starting price. The 17e also houses the new Apple A19 chip with neural accelerators, which translates to a significant boost in graphical performance and AI capabilities.

The 17e supports MagSafe charging, alongside Apple’s C1X cellular chip, which is said to be twice as fast as the one in the 16e. In terms of body and design, the new budget-friendly flagship is supposedly more durable than ever, reportedly offering 3x better scratch resistance. The display, however, is still locked at a 60Hz refresh rate, and eschews the dynamic island in favor of a notch. And while the camera remains a solo-lens operation, Apple says the A19 chip allows for “next-generation” images with enhanced focus and depth control. In terms of battery life, it’s more of the same, with claims of up to 26 hours of streaming.

So, who’s the iPhone 17e truly for? In its launch video for the phone, Apple seems to have taken a different approach, one that Apple loyalists didn’t feel was necessarily targeting them, but rather “ switchers,” as 9to5Mac notes. From the creative direction to the overall tone of voice, the video was starkly different from what we’ve come to expect from the tech giant, which begs the question: Has Apple realized its loyalists aren’t interested in its cheaper models? Or does it want a bigger share of the pie?

It checks out. The global smartphone market is projected to decline some 6.8% in 1Q 2026 on the back of the ongoing memory shortage driven by AI, CNN reports, citing data by the International Data Corporation. The 17’s success was enough to quell investor concerns for the time being, but it seems Apple is craving another piece of the pie to ensure it stays afloat. 2025 saw record growth in users making the move from Android to Apple for the first time, and the 17e might drive that growth even further.

And, speaking of switchers, it seems Windows-based tech brands are being given a run for their money…

The MacBook Neo

Taking the internet by storm, Apple dropped a budget MacBook — a feat practically unheard of from the luxury tech brand. Designed to make the “Mac experience” accessible to a wider audience, the MacBook Neo sports a 13-inch Liquid Retina display, is powered by the A18 Pro chip — the same chip the iPhone 16 Pro series boasts — and comes with a standard 8gbs of ram, promising 16 hours of battery life on a single charge. It’s no Pro by any means, nor does it match what the Air has to offer. But at that price point (and USD 100 less for students), it’s most definitely a force to be reckoned with, especially as it is set to run any app the average user might need.

In what is being called Apple’s smartest hardware move in years, the once-exclusive Mac experience is being democratized, and the tech giant is widely projected to see a slew of first-timers at its stores, according to CNET. “We want to get the Mac into as many people's hands as possible,” Apple VP of Hardware John Ternus said. While current Mac users are unlikely to make the switch to the Neo — as it would be a downgrade for the most part — the target audience seems to be Apple customers who own an iPhone but not a Mac and first-timers looking for a viable alternative to Windows-based budget devices.

Goodbye Chromebooks? This new addition to its line-up essentially establishes Apple as a major contender in the affordable tech market, Fast Company reports. Not only does its launch signify a new era for the brand — and potentially the end of an era for others — it’s a “gateway drug” to its ecosystem, as FC puts it. By getting first-timers (switchers) to put one foot in the door, Apple knows it’ll be making it difficult for them to walk back out.

…And it’s not just the MacBook Neo they’d be buying. Windows- and Android-based laptop users often spend a pretty penny on monthly subscriptions from the aforementioned providers, be it for storage or office suits or otherwise, and were they to switch to Mac, they’d be opting for Apple’s own subscription services.

Everyone’s playing checkers, Apple is playing chess. According to MacRumors, the Neo could help up Apple’s laptop shipments by some 8% in 2026, bringing the macOS market share to 13.2%, even as the broader market is estimated to fall 9.2% y-o-y this year. Last year, Apple’s Mac revenue came below expectations at USD 8.4 bn, down from a projected USD 9 bn, as revealed in the company’s 1Q earnings report.

On paper, the Neo is set to throw a curveball at the budget laptop market — whether or not it actually will is a question the answer to which will be revealed when it’s released on 11 March.

(** Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

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ON THE TUBE TONIGHT

Fakhr El Delta: This Ramadan’s feel-good comedy

📺 TikTok breakout star Ahmed Ramzy is bringing his talent for comedic skits to the big screen for the first time this year with Fakhr El Delta, and the show has already gained cult traction across social media for its fun plot and cast chemistry.

Directed by Hady Bassiony, the show stands out with a vivid color palette in stark contract with this season’s many dark, heavy dramas. Set in a vibrant rural Egyptian village, the series follows Mohamed Salah Fakhr (Ramzy) and his dream of making it in the advertising world. Fakhr already has a knack for advertising, producing simple but catchy ads for businesses in his village. His ambitions eventually earn him a spot at a prominent advertising agency in Cairo, where he learns to navigate city life and its social barriers.

The story unfolds as Fakhr navigates relationships with the people he lives and works with. Back in his hometown, he finds himself in hot water with the town mayor (Hagag Abdel Azim) after a car accident. Faced with a number of challenges, Fakhr’s unsuspecting and amusing personality carries the show, making him one of the season’s most charming characters.

A sprawling cast pairs screen veterans like Entissar and Kamal Abu Rayyah along with newer faces like Tara Abboud. Guest appearances by comedy icons like Chico, Nesrine Amin, and Tamer Hagras give the show an extra humorous spark. While the series sometimes drags with unnecessarily long transitions and filler moments, it stands out as a feel-good and heartwarming watch, perfect for Ramadan’s festive spirits.

WHERE TO WATCH- Fakhr El Delta is streaming on Watch It and Yango Play. Watch the trailer on YouTube (watch, runtime: 2:17).

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Sports

Milan derby takes center stage tonight

We’re kicking off the week with a high-stakes Italian showdown as Inter Milan and AC Milan face off for Matchweek 28 of Serie A. Kick-off is at 9:45pm on the Starzplay app.

Also on our radar in the major European leagues:

  • Getafe vs. Real Betis — La Liga, 5:15pm, beIN Sports 2;
  • Leeds United vs. Norwich City — FA Cup, 6:30pm, beIN Sports 1;
  • Genoa vs. Roma — Serie A, 7pm, Starzplay;
  • Valencia vs. Alaves — La Liga, 10pm, beIN Sports 2;
  • Lyon vs. Paris FC — Ligue 1, 10pm, beIN Sports 3.

This publication is proudly sponsored by

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Mark Your Calendar

A nostalgic suhoor with Hamid El Shaeri

🎤 Ramadan with 90s musical king Hamid El Shaeri? Count us in. The iconic singer is coming to Al Baron’s Wayana Tent for a special suhoor night this Friday, 13 March. Tickets are available on Tazkarti.

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GO WITH THE FLOW

What the markets are doing on 8 March 2026

The EGX30 fell 1.6% at today’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%).

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INSIDE INDUSTRY

Installments buy the machine — utility bills choose the model

🏭 Buying a fridge or an AC is no longer just about the price tag. With the full removal of electricity subsidies looming by 2029, Egyptian consumers have become financial analysts calculating the economic viability of an appliance based on its monthly running cost, rather than its upfront price. This shift has ignited a high-stakes tech race among manufacturers to localize inverter technology, and forced consumer finance firms to rework their playbooks.

A new equation: As domestic electricity brackets climb, consumers are reshuffling priorities. Energy-efficient, AI-integrated appliances are no longer tech luxuries, but rather economic necessities. In Egypt’s current market, installment plans determine just how much a person buys — but the electricity bill determines what they buy. While financing allows for bulk purchases, rising costs are pushing a growing segment towards high-efficiency models, reshaping demand patterns.

According to Beko’s Smart Living Index, over 50% of Egyptian consumers now fully trust AI-powered appliances to slash overhead. Following a price freeze in 2022-2023, domestic tariffs jumped between 14% and 40% in late 2024, with a roadmap for total subsidy removal by FY 2028/29. As a result, 83% of consumers now keep a close eye on their appliances.

For manufacturers, the record-high cost for the top consumption brackets has created a reverse-pressure effect on production lines. With the production cost of a kilowatt reaching approximately EGP 2.2, the premium paid for a smart device is now viewed as an investment with a rapid payback period through lower monthly bills, according to the Smart Living Index.

In numbers: Egypt’s major domestic appliance market is projected to hit USD 2.7 bn in 2025, reaching USD 2.4 bn by 2031 — a 3.95 CAGR — according to a report by Mordor Intelligence. Despite inflationary pressures and an 18% hike in the cost of components such as compressors, the market is buoyed by forced replacement cycles. Demand for Class A and inverter-equipped devices surged 22% following recent tariff hikes. Additionally, national housing initiatives — like the Housing for All Egyptians initiative — provide a steady baseline of demand, with fridges topping the demand charts with a 33% market share, according to the report.

Financing leads, efficiency guides

Bigger baskets: The market saw a 25% price dip over the last two years due to exchange rate stability. However, the average financed transaction value doubled from EGP 9k (2022/2023) to EGP 18k in 2025, ValU CEO Walid Hassouna tells EnterpriseAM. This reflects a trend of consumers bundling multiple appliances into a single installment plan. Home appliances now account for 27% of ValU’s total financing, according to Hassouna.

Today, customers ask for the energy efficiency label before the price, according to B.TECH chairman and CEO Mahmoud Khattab. This is particularly true for ACs and fridges. Buyers are willing to pay a 10-20% premium if it assures long-term savings. This has opened the door for green financing, with providers such as ValU exploring partnerships with green funds to offer subsidized lending for eco-friendly solutions.

Smart appliances, which can typically be up to 40% more expensive than their traditional counterparts, are usually financed over 24 months to keep monthly payments manageable. In contrast, buyers of traditional appliances opt for shorter — 6-12 months — windows, Hassouna tells us.

How this translates to the manufacturing process

Integrating efficiency tech (inverters, better insulation, smart controllers) has raised manufacturing costs by 5–10%, according to Beko Egypt general manager Ümit Günel. However, these devices offer stronger margins as they target the premium segment.

Despite progress, gaps remain. Günel notes that inverter compressors and advanced electronic control units are still imported, as the local tech infrastructure isn't quite there yet. The shift to smart manufacturing requires massive investment in robotics and digitalization to remain globally competitive.

While Egypt is known for labor-intensive, low-cost goods, exporting to Europe and the Gulf — which require strict certifications — demands high energy standards, according to Chairman of the Engineering Industries Export Council Sherif El Sayad. Non-compliance means rejection at the port. At Beko Egypt, 100% of exported fridges are rated A+ or higher. Driven by foreign investment, Egypt’s appliance exports are expected to grow 15% this year, reaching USD 1.7 bn, up from USD 1.5 bn in 2025, El Sayad tells EnterpriseAM.

The transition is still in its nascent stages. Head of the Chamber of Engineering Industries Mohamed El Mohandes warns that price sensitivity and inflation remain barriers for many. Updating production lines is a capital-intensive hurdle for smaller factories. To overcome this, the government is increasingly linking academic research to industrial needs, aiming to turn local innovations into market-ready, energy-efficient products.


🗓️ FEBRUARY

24 February - 14 March (Tuesday-Saturday): Ramadan Premium Market at the Arena, Cairo West.

28 February - 11 March (Saturday-Wednesday): Qahrawya Iftours.

MARCH

9 March (Monday): Layalina Tent at Mohamed Ali Palace.

13 March (Friday): Hamid El Shaeri at Wayana Tent, Al Baron.

13-14 March (Friday-Saturday): Garage Sale at Darb 15, Maadi.

21 March (Saturday): Eid Al-Fitr.

21 March (Saturday): Saad El Oud at CJC 610.

22 March (Sunday): Burna Boy at Festival Plaza, El Gouna.

22 March (Sunday): Zarf Tarek Gedan at Heliopolis Library Theater.

27 March (Friday): Wegz at the PUBG Mobile anniversary carnival, the Great Pyramids of Giza.

APRIL

2 April (Thursday): Hany Shaker at Theatro Arkan.

7 April (Tuesday): Shakira at the Pyramids of Giza.

13 April (Monday): Sham El Nessim.

25 April (Saturday): Sinai Liberation Day.

MAY

1 May (Friday): Labor Day.

26 May (Tuesday): Arafat’s Day.

26 May (Tuesday): Andrea Bocelli at the City of Arts and Culture in the New Administrative Capital.

JUNE

16 June (Tuesday): Islamic New Year.

30 June (Tuesday): June 30th Revolution.

JULY

23 July (Thursday): July 23rd Revolution 1952.

24 July (Friday): Adriatique at the North Coast.

AUGUST

21 August (Friday): Black Coffee at Cubix North Coast.

25 August (Thursday): Prophet Muhammad’s Birthday.

OCTOBER

6 October (Tuesday): Armed Forces Day.

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

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