The latest in the Egypt-Ethiopia saga

1

WHAT WE’RE TRACKING TONIGHT

Al Muizz Street is getting a brand new boutique hotel

Good afternoon, friends, and kudos to you for making it to the long weekend. Today we break down where things stand between Egypt and Ethiopia — the PNG declarations, the accusations from Addis Ababa’s army chief, and how a dispute over the Nile reached the point of expelling each other’s diplomats last week. Elsewhere in today’s issue: we have a new Elizabeth Strout novel for the weekend, and everything on the pitch over the next few days below.

** A QUICK PROGRAMMING NOTE- EnterprisePM is taking a publication holiday tomorrow in observance of the Sixth of October holiday and will be back in your inboxes at the usual time on Sunday afternoon.

Now, the news…

THE BIG STORY TODAY-

📍 Al Muizz Street is getting a brand new boutique hotel backed by a USD 5 mn investment: Egypt’s Urban Development Fund (UDF) has signed an agreement with a joint venture between Ananea Hotels & Resorts and Bayt Al Qahira for Hotel Management to develop and operate a boutique luxury hotel on Al Muizz Street in Historic Cairo within the UNESCO-listed Fatimid core, according to a press release seen by EnterpriseAM.

The project carries a USD 5 mn investment directed at deployment, fit-out, and positioning of the property as a heritage-inspired luxury stay targeting international and regional guests. The agreement was signed by UDF head Khaled Siddiq and the venture’s principals Moudy and Tamer El Shaer. The hotel brand is yet to be disclosed. The agreement is part of a broader government push to bring private hospitality investment into Historic Cairo, as EnterpriseAM had previously reported.


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.

Every Tuesday and Thursday, we also cover the startups and established firms across MENA putting AI to work, and how it is changing jobs, education and the way business runs.

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

Sign up here to be among the first to get it straight to your inbox.

THE BIG STORY ABROAD-

🌐 Still getting plenty of ink are the student protests erupting across France, as teachers and parents joined what Prime Minister Sebastien Lecornu called the most violent student demonstration in decades. The country has suspended the use of stun grenades amid allegations of police brutality against high school students, including the use of tear gas and water cannons, after a 15-year-old had their hand blown off earlier this week. Investigations are underway into police conduct surrounding other alleged teenage injuries.

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

MEANWHILE- Rumors of a possible plague case in Siberia are drawing the attention of US President Donald Trump and his administration following the mysterious death of a laboratory worker at the Irkutsk Research Anti-Plague Institute of Siberia. Trump said he plans to speak with Russian President Vladimir Putin about the situation “very soon.” Russian officials have thus far provided limited information in response to US requests, as the US escalates its request for information to assess whether a public health response may be necessary.

^^Read more on: CNN and CNBC.

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

  • Al Ahly Capital is buying El Sewedy Capital Holding’s 40% stake, or 30 mn shares, in CIRA’s Damietta university venture. The transaction, which secured approval from the Egyptian Competition Authority earlier this week, will leave CIRA’s 60% stake untouched. It’s expected to close before year-end;
  • MNT’s subscriptions opened earlier today at EGP 24.5 per share, valuing MNT Tech Holding for Financial Investments at EGP 39.2 bn (c. USD 750 mn), by our math. At that price, the base offering of 320 mn secondary shares — good for 20% of the company — would fetch some EGP 7.84 bn (c. USD 150 mn) in gross proceeds;
  • Post For Investment is putting together a consortium to take an equity stake in a data center, Managing Director and CEO Ahmed Ali Abdelrahman told the EnterpriseAM Egypt Forum on Monday. It’s a “very early stage” investment with “too many stakeholders” in place. The country has about 15-20 MW of installed data center IT load capacity, Abdelrahman said. Four announced mega projects would push that to 400-500 MW;
  • Egypt’s financial sector is still holding back on AI while the rules get written, executives said at the EnterpriseAM Egypt Forum on Monday. Banking AI in Egypt is “a little bit in our infancy because the regulatory and legal framework is still being defined,” HSBC Egypt CEO Todd Wilcox told the audience.

☀️ TOMORROW’S WEATHER- It’s going to be a hazy, breezy day in C-Town tomorrow, with temperatures peaking at just 31°C, before dropping to an overnight low of 20°C, according to our favorite weather app.

2

PLUG IN

Breaking down the latest on the Egypt-Ethiopia front

🌊 Egypt and Ethiopia have been trading claims, accusations, and clashes over the Nile River for years, and just last week the dispute turned into a diplomatic row that has since dominated the social and political conversations in Egypt. The latest in the saga was when both countries exchanged persona non grata (PNG) declarations on 1 October.

Ethiopia made the first move. Its Foreign Ministry declared Egyptian diplomat Ahmed Moharam Ahmed Soliman PNG, giving him 48 hours to leave the country. The ministry then stated that the decision was made under the Vienna Convention on Diplomatic Relations but didn’t disclose exact reasons or identify specific violations by the Egyptian diplomat. Cairo responded the same day, giving Ethiopian embassy counselor Egazi Emelo Borougi the same deadline under the principle of reciprocity.

The expulsions followed an accusation from Ethiopia’s army chief. Field Marshal Birhanu Jula said the forces currently fighting his troops would not succeed unless they were “backed, supported, and supplied by Sudan, Egypt, and other external powers.” A day later, Foreign Ministry spokesperson Nader Zaki stated that any claims casting doubt on Egypt’s policy of non-interference were “null and void.” Addis Ababa also expelled 10 Eritrean diplomats and closed its embassy in Asmara on the same day as its escalation against Egypt, prompting Eritrea to cut diplomatic ties in response.

A little background

The disputes between Egypt and Ethiopia center around the Grand Ethiopian Renaissance Dam (Gerd) on the Nile — the river which Egypt relies on for over 95% of its freshwater, according to Prime Minister Mostafa Madbouly. Ethiopia broke ground on the Gerd in 2011, which President Abdel Fattah El Sisi says was only built because of the unrest Egypt went through from 2011 to 2013, although the country still maintains a commitment to diplomacy with Ethiopia over the dam today.

Egypt’s share of the river, however, dates back to the colonial era. A 1929 treaty between the UK and Egypt gave Cairo veto power over construction on the Nile, and a 1959 agreement with Sudan raised Egypt’s share of the flow to 66%. Ethiopia and other upstream countries later argued they could not be bound by agreements that excluded them. In 2024, Burundi, Ethiopia, and four other African nations signed the Nile Basin Cooperative Framework Agreement, bringing it into force — a treaty that Egypt and Sudan rejected. Years of talks between the three countries then failed to produce a binding agreement, and Ethiopia inaugurated the dam on 9 September 2025.

The losses and gains

For Ethiopia, the dam is about electricity. Addis Ababa sees the Gerd as a source of power the country badly needs, as it’s designed to generate 5.15k megawatts, more than double the country’s previous capacity. Ethiopia also holds the source of the Nile, whose main reservoir is Lake Tana in the Ethiopian highlands, which provides more than 80% of the river’s water.

As for Egypt, one of the risks is to its farmland, as the Nile Delta is Egypt’s food basket. A 2020 Al Jazeera analysis with earth and space scientist Essam Heggy modeled five scenarios — which were then under negotiation between Egypt, Sudan, and Ethiopia — and, depending on the scenario, Egypt stood to lose anywhere from nearly 2 mn acres, about 18% of its agricultural land, to 6.75 mn acres, about 67%. In one middle scenario, half of the country’s farmland would simply go out of production.

Additionally, Egypt is already below the threshold for absolute water scarcity. Per capita water availability has fallen to about 472 cbm per year, below the 500-cbm line commonly used to define absolute scarcity, according to a statement by Irrigation and Water Resources Minister Hani Sewilam from September, where he also stated that Egypt’s annual renewable supply of about 56.8 bn cbm falls far short of the roughly 123 bn cbm it needs.

To cover part of the gap, Egypt reuses about 23.2 bn cbm of water a year and is expanding treatment plants with a combined capacity of 4.8 bn cbm, as well as government efforts to improve water efficiency, including satellite monitoring, predictive modeling, and smart irrigation systems under its broader “Water 2.0” strategy.

Egypt responds to the Ethiopian plan

Ethiopia wants to build three more hydropower dams: Karadobi, Mandaya, and Beko Abo. Their Water and Energy Minister Habtamu Itefa confirmed the plans in August, and stated that Ethiopia plans to increase its control over the Nile’s flow to Egypt and Sudan. Cairo University water resources professor Abbas Sharaky then described Ethiopia’s unilateral approach to the Renaissance Dam as a threat to downstream countries, saying its operation without consideration for their interests poses a national security concern for Egypt and risks regional stability.

Cairo has ruled out these plans. At a meeting chaired by President El Sisi on 29 September, Foreign Minister and International Cooperation Minister Badr Abdelatty said Egypt would not accept any new dams or a repeat of “what happened with the current Ethiopian dam.” Egypt had also reiterated that water security is an existential issue at the UN General Assembly that same week, saying it reserves its rights under international law to protect its water security from further threats, which was then backed by Chinese President Xi Jinping during a recent visit to Cairo.

The conversation in New Alamein

Egypt’s president hosted the Eritrean president, the Somali president, and the commander-in-chief of the Sudanese army in New Alamein on Sunday for a summit framed as a call for dialogue. In a joint declaration, the four called for respect for international law on transboundary rivers, including the Nile, and opposed any one-sided action that could compromise Egypt and Sudan’s water supply, according to a statement from the presidency. The four nations also agreed that governance of the Red Sea belongs to its coastal states, as a response to Ethiopia’s pursuit of sovereign sea access.

What’s next? The four leaders agreed to meet periodically and set up a joint mechanism to track progress. The coming period awaits how Addis Ababa responds to the declaration and whether any of its three planned dams move past the proposal stage.

3

Under the Lamplight

Loneliness, secrets, and existential dread in Elizabeth Strout’s The Things We Never Say

📚 Elizabeth Strout’s latest Booker Prize-shortlisted novel The Things We Never Say is a gloomy, wholehearted, and deceptively simple read all at once. The American author brings what she does best: a character-led story that does so much with seemingly very little. In a characteristic portrayal of everyday mundanities and quiet struggles, Strout delivers a small-town grapple with loneliness, grief, relationships, and tragedy, set against a tense political backdrop and filled with secrets and the fragile entropy of family life. It’s an intimate portrayal that confronts you with rather uncomfortable emotions, only to have you revel in their relatability.

The plot: Artie Dam is our main character, a 57-year-old history teacher at a local high school in coastal Massachusetts. He lives with his wife Evie, while their son Rob occasionally visits from out of town. Artie is an outwardly goofy, extroverted guy who cares about others and is loved by many, especially his students. In solitude, however, he struggles with existential thoughts and often grapples with the idea of taking his own life. He feels increasingly distant from his wife, with their relationship strained by a lingering trauma surrounding Rob from 10 years ago. When Artie goes through a near-death experience while sailing, he re-evaluates how much he actually wants to live, only to learn a secret that upends his world and everything he thought he knew about his family.

What we liked: The story doesn’t involve grand events, grand characters, or even necessarily grand themes. Everything takes place in the close proximity of one man, his super-ordinary life, and his own dreary thoughts. It’s extraordinarily honest, complicated but not overwhelmingly so, and dreadfully normal. Yet, Strout still manages to draw out a richness in these characters and their stories that makes them hard not to care about — or see yourself in. It is ultimately quite a depressing take, however, often underscoring an inevitability in so many relationships: do we really know the people closest to us?

The verdict: At around 200 pages, The Things We Never Say carries you effortlessly through its light prose and, despite its darker moments, could be finished in one sitting. Strout delivers a touching portrait of the human condition, closely interrogating some of our deepest feelings and touching on the silence that quietly engulfs much of our lives. It’s an engrossing read with an impact that creeps up on you — a worthwhile pick when you’re looking to confront some of your own scars.

WHERE TO FIND IT- You can find the paperback at Diwan. You can also get the e-book on Amazon and Kobo.

4

Sports

Al Ahly and Zamalek kick off League Cup campaigns + Super Saturday returns

⚽ An action-packed long weekend awaits as domestic leagues take center stage following the conclusion of the international break. The action kicks off today and tomorrow with Matchday 1 of the Egyptian League Cup:

  • Petrol Asyut vs. Al Ahly — 5pm, ON Sport Max;
  • Pyramids vs. El Qanah — 5pm, ON Sport Plus;
  • Zamalek vs. ZED — 8pm, ON Sport;
  • Ceramica Cleopatra vs. Al Masry — 8pm, ON Sport Max.

Tomorrow’s Egyptian League Cup fixtures:

  • Ittihad Alexandria vs. Wadi Degla — 5pm, ON Sport;
  • Al Mokawloon Al Arab vs. El Gouna — 5pm, ON Sport Plus;
  • Ghazl El Mahalla vs. Abu Qir Fertilizers — 8pm, ON Sport;
  • Modern Sport vs. Al Bank Al Ahly — 8pm, ON Sport Max.

Friday’s fixtures

Major European action returns to the fold as Málaga takes on Espanyol at 10pm in Matchday 8 of La Liga. Over in Ligue 1, Lens collides with Lyon at 9:45pm for Matchday 6. Meanwhile, Borussia Dortmund hosts Werder Bremen at 9:30pm on Matchday 5 of the Bundesliga.

Saturday’s fixtures

Super Saturday brings a packed lineup across the top European leagues:

In the Premier League: Arsenal meets Leeds United at 2:30pm on Matchday 6. The Gunners (12 points) target three points to temporarily overtake current leaders Manchester City (15 points) at the summit. Elsewhere, Chelsea clashes with Bournemouth at 5pm, while Manchester United locks horns with Tottenham Hotspur at 7:30pm.

In La Liga: Heavyweights take to the pitch as reigning champions and league leaders Barcelona take on Getafe at 7:30pm, looking to extend their victory streak. Real Madrid hosts Villarreal at 10pm as Los Blancos seek to regain momentum following their recent setback against Atlético that saw them slip to fourth place.

AND- In Ligue 1, Paris Saint-Germain faces Le Mans at 9:45pm on Matchday 6. The titleholders face a high-stakes fixture to recover their victorious form after a slow start that yields just eight points so far.

Other European League fixtures on Saturday:

  • Samsunspor vs. Trabzonspor — Turkish Süper Lig, 4pm;
  • Aston Villa vs. Brentford — Premier League, 5pm;
  • Sunderland vs. Brighton — Premier League, 5pm;
  • Alavés vs. Atlético Madrid — La Liga, 5:15pm;
  • Lille vs. Le Havre — Ligue 1, 6:15pm;
  • Augsburg vs. Bayern Munich — Bundesliga, 6:30pm;
  • Inter Milan vs. Parma — Serie A, 7pm;
  • Monaco vs. Toulouse — Ligue 1, 9:45pm;
  • Napoli vs. Frosinone — Serie A, 9:45pm.

💡 All European league fixtures will be broadcast on beIN Sports channels. Check out the full schedule here.

🐐 Messi’s last tango

In an emotional tribute match early this morning, Argentine legend Lionel Messi bid farewell to international football, captaining Argentina to a 3-0 triumph over Benin in a friendly at the Estadio Mâs Monumental in Buenos Aires.

The 39-year-old icon had a hand in all three goals, setting up Nicolás Otamendi’s opener in the 48th minute, assisting Nico Paz for the second in the 61st minute, and converting a 71st-minute penalty. The strike marked his 126th and final goal in the Argentina shirt, bringing the curtain down on an extraordinary 20-year international career highlighted by the 2022 World Cup trophy and two Copa América titles.

Messi had previously announced his international retirement following the 2026 World Cup final defeat to Spain, making this his 208th and final appearance for his country — cementing his place as Argentina’s all-time leader in both caps and goals.

This publication is proudly sponsored by

5

Mark Your Calendar

Angham is set for a big night at the New Capital Opera House this November

🎤 Superstar Angham is heading to the New Capital Opera House at the City of Arts and Culture on Wednesday, 4 November, and Friday, 6 November, becoming the first Arab artist to perform at the venue. In celebration of Egyptian Valentine’s Day, the singer will take the stage at 8pm alongside maestro Hany Farahat for an elegant evening of music. Tickets are selling fast. Secure yours before they’re gone through Tazkarti.

6

GO WITH THE FLOW

What the markets are doing on 7 October 2026

The EGX30 fell 0.1% at today’s close on turnover of EGP 7.6 bn (33.4% below the 90-day average). Local investors were the sole net buyers. The index is up 27.3% YTD.

In the green: Orascom Construction (+4.0%), Abu Qir Fertilizers (+4.0%), and Fawry (+1.8%).

In the red: Alexandria Containers and goods (-2.8%), Eastern Company (-2.7%), and GB Corp (-2.4%).


🗓️ 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.

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.

Now Playing
Now Playing
00:00
00:00