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The future is deepfaked

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WHAT WE’RE TRACKING TONIGHT

13 firms added to privatization list + FinMin weighs property tax suspension extension

? Good afternoon, friends, and happy Christmas Eve. The news cycle seems to be picking up the pace as we approach weekend territory, and we’ve got a few important stories for you this afternoon. We’re also looking at some concerning AI developments and taking a deep dive with the founder of Egyptian parenting platform Tribe.

PSA- While tomorrow is a national holiday in Egypt in observance of Coptic Christmas, you can still expect EnterprisePM to land in your inbox at our usual time.

THE BIG STORY TODAY-

? The Egyptian government is moving to reduce the stakes held by banks in public sector companies and add 13 new entities to the state privatization program, alongside new IPOs, two government sources told EnterpriseAM exclusively. These moves are part of the State Ownership Policy, on which a newly formed prime ministerial committee is set to begin work this month.

Why this matters: This comes at a highly sensitive time when the government is aiming to successfully conclude its IMF loan program. This requires structural reforms to ensure sustainable economic indicators and prevent the need for a future structural adjustment program. The core of these reforms is expanding private sector participation and securing robust foreign reserves of USD 55-56 bn.

ALSO- The Finance Ministry is considering a one-year extension of the real estate tax suspension for approximately 20 industrial sectors, a high-ranking government source told EnterpriseAM. Under the new proposal, the ministry would bear the tax burden for local manufacturers for a period of one to two years. The previous two-year tax relief period is set to expire this January.

** Read the full story and more in tomorrow’s issue of EnterpriseAM.

THE BIG STORY ABROAD-

? The situation in Venezuela is still dominating front pages after former President Nicolás Maduro and his spouse pleaded not guilty to charges of narco-terrorism, cocaine importation conspiracy, and possession of machine guns and destructive devices. “I am a decent man. I am still president of my country,” Maduro said in court. Since his capture, shares of top US refiners have surged, with US President Donald Trump saying there’s a “tremendous amount of wealth” up for grabs for American oil firms in Venezuela.

MEANWHILE- The country’s main opposition leader and 2025 Nobel Peace Prize recipient Maria Corina Machado praised Trump’s capture of Maduro, calling for an election and announcing plans to “return home.” Last weekend, Trump had dismissed the idea of Machado as a leader for Venezuela, citing lack of support and respect within the country.

Read more on: CNN, BBC, and Reuters.

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

  • Egypt’s bid to position itself as the premier energy hub in the eastern Mediterranean got another boost yesterday on the Levant side of the equation as the Oil Ministry signed two MoUs to help fuel Syria’s reconstruction with the supply of natural gas and petroleum products;
  • EGX-listed fintech player Valu plans to kick off operations in Jordan this quarter after lining up final approval from the Central Bank of Jordan (CBJ). It will launch operations in Jordan under a specialized finance license that allows it to deliver a range of financing solutions;
  • Egypt enters 2026 on a solid macroeconomic footing, driven by expected growth in FX inflows, cooling inflation, and “tangible progress” on its ongoing reform program, Standard Chartered said in a note to clients.

☀️ TOMORROW’S WEATHER- We’re in for a warmer day in the capital tomorrow, with temperatures reaching a high of 25°C before cooling down to 13°C, according to our favorite weather app.

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PLUG IN

The Great Deepfake of 2026

?“Grok, put her in a bikini.” Over the past few days, social media, particularly X, has been flooded with a slew of NSFW imagery of individuals — men, women, and even minors — semi-naked and dressed in a smorgasbord of revealing undergarments. They’re all deepfakes — and they’ve never been easier to generate. The culprit? Grok. The prompt? A five-word sentence. The aftermath? Catastrophic.

…And it’s happening right before our eyes. X users with public profiles have found themselves victims of what the public AI model with over 30 mn active monthly users is calling a “lapse in safeguards,” allowing other users to generate realistic non-consensual sexual imagery using published media by mentioning and prompting Grok in the replies — results shared publicly and instantaneously. In a matter of hours, feeds were spammed, Reuters reports.

“There are isolated cases where users prompted for and received AI images depicting minors in minimal clothing [...] Improvements are ongoing to block such requests entirely,” Grok posted on X — but the deepfakes kept coming, and it didn’t take long for the alarms to sound. On Friday, French authorities began investigating these deepfakes after two lawmakers reported the matter to the prosecutor’s office, which noted that the offense is punishable by two years' imprisonment and a EUR 60k fine, Politico reports. India followed suit, its IT Ministry issuing an order directing Musk to to take corrective action, according to TechCrunch.

For Musk, it was business as usual, with the b’naire reacting to his favorite deepfakes — including ones featuring Musk in a bikini himself — with laugh-cry emojis. "The platform has been allowing the creation and distribution of these images for months without taking any action and we have yet to see any challenge by regulators," Durham University Law Professor Clare McGlynn told the BBC. “[X or Grok] could prevent these forms of abuse if they wanted to,” McGlynn added. It’s worth mentioning that XAI’s policy prohibits depicting likenesses of persons in explicit manners. Musk’s solution ? Essentially a verbal slap on the wrist with no real action noted.

Yet, would they want to put it to an end? In the days following the “safeguard lapses,” Grok and X topped app store charts and Google searches, Musk claims — and one can easily surmise why: sexsells. Could Grok’s latest security hiccup be a carefully calculated update to test the waters of AI-generated R-rated content? After all, OpenAI’s ChatGPT isn’t that far behind on the NSFW front, with the AI giant set to introduce adult content for “verified” adult users, the Guardian reported earlier in October.

What was once a frightening “what if” is now our dystopian reality. Deepfakes have become all too common — explicit or otherwise. Over 50% of online articles are AI generated, as are 20% of videos shown to YouTube users. “Deepfakes will become mainstream, and the threat will shift from reputational damage to direct monetization by bad actors,” market research company Forrester says in its 2026 Trust and Privacy Prediction Report.

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EAT THIS TONIGHT

A Mediterranean maze of flavor

?️ Cairo, a Mediterranean city, is hardly short on Mediterranean cuisine, yet Maze Roof Resto still manages to offer something different. Sitting high on the second floor of Sheikh Zayed’s Arkan Plaza, Maze makes for an exciting dining experience with a familiar cuisine.

The menu isn’t your average Mediterranean venture — think Arabic flair meets Italian boldness, with an international touch. Mezzes make up most of their starters menu, with other inventive fried appetizers also available. The pasta, risotto, and gnocchi concoctions are a strong presence, with limited but innovative chicken, beef, and seafood plates. You’ll also find burgers and pizzas, albeit with a Mediterranean twist as well.

It was a little hit or miss, but we trusted the process… and it paid off. Served on ornate, delicate plates, our starters arrived hot and fresh — halloumi black honey poppers, Pomme Bravas, and their kibbeh laban. The halloumi black honey poppers materialized as a glazed trio with a flimsy fried coating, even as the halloumi inside remained blazing hot. Unfortunately, only the garlic black honey sauce left a lasting impression. The Pomme Bravas tasted simple and homey, but the coriander and fried onion topping didn’t quite pair well with the fries. Then came the standout: the kibbeh laban. The unexpected combination of pesto and crispy kibbeh was marvellous, and we found ourselves repeatedly dipping our spoons back into the warm garlic pesto oil yogurt.

For our mains, we gravitated towards their chicken-based plates. The chicken parmigiana was a scrumptious plateful of tender chicken breast, softened by melted mozzarella and parmesan cheese. The veggie orzo side, however, felt somewhat out of place. The risotto cordon bleu was also a delight, with tender chicken bites laid atop creamy risotto in tomato sauce. The risotto was the star of the evening, also proving delectable in the brisket parmesan risotto dish.

Our verdict: Despite a rocky start, Maze soon charmed us. While some dishes failed to make the right first impression, the ones that did will likely have us coming back for more. Beyond the food, Maze offers an entirely new dining experience — one that’s heavy on the whimsy of it all. The eatery works with all the right colors: olive greens, deep oranges and reds, and warm yellows — adding warmth to the Alice-in-Wonderland-esque establishment.

WHERE TO FIND IT- You can find Maze Roof Resto at Sheikh Zayed’s Arkan Plaza, and you can book your table by calling +201070232190.

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Sports

Tonight in AFCON: Côte d’Ivoire vs. Burkina Faso — who will Egypt face in the quarter finals?

The Pharaohs conquer the field: Egypt secured a hard-fought W over Benin yesterday in a match that went to extra time, ending 3-1 in favor of the Pharaohs. With this victory, Egypt qualifies for AFCON quarter finals, where they will face off against the victor of tonight’s clash between Côte d’Ivoire and Burkina Faso at 9pm.

WHERE TO WATCH: BeIN Sports MAX 2.

Algeria eyes qualification: The Desert Foxes are gearing up for another high-stakes face-off against the DR Congo this evening at 6pm as they battle it out for a spot in the quarter finals.

WHERE TO WATCH: BeIN Sports Max 2.

This publication is proudly sponsored by

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Mark Your Calendar

Hany Shaker heads to Theatro Arkan

? Musical icon Hany Shaker is heading to Theatro Arkan on Friday, 23 January for a live show of his timeless classics. The night is set to be a celebration of heritage, nostalgia, and elegance. Tickets are available on Ticketsmarché.

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GO WITH THE FLOW

What the markets are doing on 6 January 2026

The EGX30 rose 2.1% at today’s close on turnover of EGP 4.8 bn (10.5% below the 90-day average). International investors were the sole net buyers. The index is down 0.7% YTD.

In the green: Juhayna (+6.5%), Raya Holding (+5.3%), and E-finance (+4.7%).

In the red: Misr Cement (-1.2%), Palm Hills Developments (-0.4%), and Valmore Holding- USD (-0.3%).

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Founder of the Week

Meet Tribe founder Roba El Gindy

? OUR 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 Roba El Gindy (LinkedIn), founder of Egyptian parenting platform Tribe.

My name is Roba El Gindy, and I’m the founder and CEO of Tribe. If I had to describe Tribe very quickly, I’d say it’s the village that it takes to raise a child. Tribe is an online parenting platform that exists to lift the invisible weight off parents — the guilt, the fear, the pressure to be perfect, and the self-criticism — replacing it with clarity, confidence, and joy. We created Tribe with all that in mind.

My academic background has definitely had an impact on my career. I graduated from the American University in Cairo with a major in marketing and a minor in psychology. That combination gave me an interesting foundation for what I’m doing now in terms of understanding human behavior, formulating strategies, and discerning people’s needs.

I jumped into marketing right after graduating — I spent some time at Orange and later P&G, where I led Gillette in the region for quite some time. Working on different global brands and leading growth and communication strategies taught me discipline, communication, and responsibility. After that, I jumped into F&B, where I led marketing efforts for brands such as Crave and Qahwa. It was quite the shift, but I was very interested in operating on a smaller scale and seeing the speed at which things were done on the ground.

It was when I got pregnant that everything changed. I found myself approaching my pregnancy the same way I approached work — prepared and studied with a project manager mindset. I started to tumble, realizing that parenting today isn’t the same as it was for previous generations, and there weren’t any resources readily available. I remember telling a few of my therapist friends, “I want to study parenting; not the fixes, but the pre-emptives.”

Years later, when I started studying parenting coaching, graduated from the first program, and launched an earlier business, Egyptian preacher and television host Mustafa Hosny hosted me on 12 episodes of his show Konoz. The episodes, where we discussed best parenting practices and shed light on their roots in Islam, were watched by mns of Arabs across the world. I got thousands of messages. That’s when I decided I would build Tribe.

Tribe started in 2023, and fully launched by the end of 2024. Parents struggle, and they’re raising children in a world that doesn’t necessarily mirror the one they grew up in, and so they’re unable to get the support they actually need — our own parents’ advice is no longer relevant. The need was there, and the expertise was there as well, but no one knew how to make use of it. Parents would take their frustrations and questions online, but more often than not the searches would yield irrelevant results, or at least ones that were Western-oriented and didn’t fit the context of our societies and cultures.

What makes Tribe different is that we’re a one-stop shop for parenting resources. You can get consultations with experts through the platform, access our on-demand course library covering parenting challenges across different age groups and tracks, and talk to Nour, our own culturally relevant AI parenting assistant, which offers round-the-clock support. I would get calls at 2am and I wouldn’t be able to answer them. At the end of the day, I’m human.

Parenting crises don’t have standard hours, and Nour is who you go to when you need immediate advice, regardless of time and place. Nour, I believe, will be our main differentiator moving forward. A friend and mentor of mine once told me I’m pioneering Parenting Tech, and I believe that our use of today’s tech is what will continue to set us apart.

Hearing back from the parents Tribe has helped is what makes me feel like I’ve done something I can call successful. A mom could tell me that she finally managed to foster a healthy relationship with her kids because of Tribe, another would tell me she learned to pause and savor time with them. These are always heart-warming moments to hear about. Another aspect that makes me feel successful is being able to recognize patterns and provide solutions accordingly.

Right now, we’re serving Arab parents in 12 countries, including Canada, Switzerland, and Sweden. Arab parents are all around the world and we go where they take us. Tribe began spreading because of these families. I’m building Tribe to be the most trusted, culturally relevant parenting ecosystem for Arab parents anywhere and everywhere. Over the coming years, I hope to see it in over 100 countries — I’m a dreamer. By constantly adapting to new technology, I’m confident that I can get Tribe there.

There have been economic challenges, yes, but if that’s taught me anything, it’s that our kids are the one thing that matters. Children will always be their parents’ number one priority — even if the economy takes a hit, people will never skimp on their child’s wellbeing. We then started asking ourselves, how could we create pro-bono resources for parents? How can we create general guides around the most critical of pit stops or challenges? Because of the economic challenges, it’s become part of our DNA to be able to create solutions that work, whether paid or unpaid. It’s shifted Tribe to be even more of a purpose-led cause — one that doesn’t pause during hard times.

There are lots of perceptions pertaining to parenting in Egypt that I’d like to challenge. One being the obsession with perfection. Parents — especially mothers — often obsess with being perfect to the extent that it pushes us off the edge. I know it’s part of pop culture, it’s fun to relate to being superheroes and so on, but at the very core of it, it’s overwhelming. It’s unrealistic. Another perception I’d like to challenge, and one that I feel like is already being addressed, is that parenting isn’t just a mother’s job. It’s not just a mother’s and a father’s either — it takes a village, a tribe.

Knowing that my work adds joy to family dynamics is a very rewarding feeling. The most difficult part, however? You’re working with people’s wounds, living their problems every single day — fears, unmet needs, rocky relationships. You just have to teach yourself to remain grounded, because you have your own tribe waiting for you at home.

Tribe is an entirely different work experience than everything I have experienced my entire career thus far, which was structured — Tribe is anything but. Work-life balance, then, looks different. I don’t have fixed hours, and I’m lucky to have my own tribe to support me in reaching harmony between work and life. It’s all about adjusting.

There’s a ton of advice pertaining to how to start your business, but what I’m more interested in is helping people find their area of interest first. So my advice to up-and-coming entrepreneurs is this: find your spark, the thing that lights up your soul. Ask yourself: what can’t you stop thinking about? What’s a problem you’re always trying to solve? Even if there’s virtually no market for it, it doesn’t matter — once you find that space, it’s yours.


?️ JANUARY

12 December - 15 January (Friday-Thursday): Cairo Art Fair at TAM Gallery, Abu Rawwash.

6 January (Tuesday): Omar Khairat at the Cairo Opera House.

6 January (Tuesday): WKND CMDY at CJC 610.

7 January (Wednesday): Coptic Christmas Day.

8 January (Thursday): Calum Scott at the Grand Egyptian Museum.

8 January (Thursday): Salah El Daly at Hilton Cairo Grand Nile.

8-9 January (Thursday-Friday): Umm Kulthum Musical at Movenpick’s The Theater, 6th of October City.

9 January (Friday): Tamer Ashour at Hilton Cairo Grand Nile.

10 January (Saturday): Rouh El Sharq Concert at the Hilton Cairo Grand Nile.

10 January (Saturday): Alaa Abu Diab at CJC 610.

15 January (Thursday): Winter Music Festival II: Tamer Hosny at Open Air Mall, Madinaty.

16 January (Friday): Amr Diab concert at Al Manara Arena.

23 January (Friday): Hany Shaker at Theatro Arkan.

25 January (Sunday): January 25th Revolution / National Police Day.

30 January (Friday): Cairo Marathon normal registration ends.

FEBRUARY

6 December - 15 February (Saturday-Sunday): Cairo Prints at Cairopolitan in Garden City.

6 February (Friday): Cairo Marathon at Heliopolis, Merryland Park.

17 February (Tuesday): First day of Ramadan (TBD).

MARCH

20 March (Friday): Eid Al-Fitr (TBD).

APRIL

13 April (Monday): Sham El Nessim.

25 April (Saturday): Sinai Liberation Day.

MAY

1 May (Friday): Labor Day.

26 May (Tuesday): Arafat’s Day.

JUNE

16 June (Tuesday): Islamic New Year.

30 June (Tuesday): June 30th Revolution.

JULY

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

AUGUST

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

OCTOBER

6 October (Tuesday): Armed Forces Day.

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