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WHAT WE’RE TRACKING TONIGHT

FinMin explores tying zero-income tax bracket to inflation rates

Good afternoon, friends, and welcome to the start of a new workweek. Today’s issue brings you updates on the latest FinMin developments and precious metal prices, fills you in on how Egypt can position itself as a regional telecom hub, and revisits our piece on marketing campaigns, this time focusing on those who choose to blend in rather than stand out. Let’s dive in.

THE BIG STORY TODAY-

📍 The Finance Ministry is preparing a wide-ranging package of fiscal reforms that targets some of the private sector’s deepest structural grievances, Deputy Finance Minister Sherif El Kilany told EnterpriseAM. The measures — which range from significant changes to how freezones are taxed to tax exemption brackets for income expanding to take into account inflation — signal the state’s focus on tax fundamentals is far from over.


Raising the tax exemption bracket to shield low-income earners from the pressures of inflation is currently being studied by the ministry
, according to El Kilany. For employers, this is also a net positive — it improves employees’ take-home pay without immediately forcing a gross salary hike to match inflation.

CORRECTION-
In the original version of this story, we incorrectly said that the tax exemption bracket would be pegged to inflation. Instead, the ministry is mulling a one time amendment to the rate to account for inflation.

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

THE BIG STORY ABROAD-

🌐 Gold, silver, and platinum continue their year-end rally, breaking last week’s record high. Precious metal prices are still climbing, with spot gold climbing as much as 1.6% over the weekend to surpass USD 4.5k per ounce, while silver has jumped 7.6% to cross the USD 77 mark. Platinum has followed suit, trading above USD 2.4k per ounce for the first time in decades.

Analysts believe the rally is fuelled by heightened safe-haven demand due to escalating geopolitical tensions following recent US military strikes against Nigeria and intensified pressure on Venezuela by the US blockade of oil tankers. The Bloomberg USD Spot Index fell 0.7% last week, its steepest decline since June, adding to the appeal of precious metals, which are on track for their best annual performances since 1979.

**Read more on Bloomberg: Gold and Silver Smash Records Again as Rally Gathers Momentum.

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enterprise

*** It’s Inside Industry day — your weekly Sunday briefing of 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 through 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’re looking at how the circular economy model in the ICT sector is putting Egypt on the path to becoming a regional telecom hub.

☀️ TOMORROW’S WEATHER- Grab your favorite sweater if you haven’t already — we’re in for a cooler than usual day in the capital tomorrow. Temperatures are set to peak at just 20°C before cooling even further to 11°C, according to our favorite weather app.

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MARKETING

Brand authenticity is dead; long live brand authenticity

🤳 Last week, we explored how some brands use shock value to cut through the noise. Today, we’re looking at the ones relying on relatability rather than controversy, and whether they’re compromising their identity to trendiness.

Scroll through Instagram and you’ll start to notice that every Reel sounds the same. It’s not just independent creators or everyday users — it’s brands, from bakeries and restaurants all the way to real estate conglomerates and fertility clinics. Businesses are no longer leading with their products or services; they’re leading with personality. The message? We’re cool, just like you.

This is the new reality of marketing: Viral sounds aren’t just a creative choice anymore — they’re table stakes. The shift toward viral humor and carbon-copy sketches isn’t new, but its overwhelming prevalence is raising an obvious question: If everyone’s trying to stand out, who’s actually doing it?

Where and why did the shift originate? Instead of leaning into shock value marketing to cut through the noise of AI-generated content, some brands are taking what appears to be a more organic approach on social media — short, viral sketches. The reasoning is straightforward: younger generations value authenticity, spontaneity, and unpolished content, Mohamed Galal, marketing expert and chairman of TSM Management, told EnterpriseAM.

Asked whether legacy brands risk alienating their existing customer base by chasing trends, Galal offered a blunt blow: “That original customer base is done for. Consumers grow up until they’re no longer your consumers.” Why this type of outreach? “Brands are now targeting an entirely new segment of customers, and those segments only react to social media,” he added.

Marketing isn’t art — it’s a commercial function with one objective: driving revenue. And survival isn’t a one-time pivot, it’s a continuous process. Influencer marketing has already lost much of its shine, founder and lead consultant at Toolbox Marketing Consulting Nader Elhamy tells us. Once the go-to strategy for every marketing department, it’s now left a sour taste in consumers’ mouths. Influencer marketing started as a way to generate engagement and build credibility, which quickly eroded once influencers stopped being selective with their collaborations and started parroting PR lines for a substantial paycheck.

In short: authenticity sells. But how long until consumers tire of their favorite brands’ pandering to trends? If that’s all a brand has to offer, that’s when the sketches lose their novelty, and the strategy collapses. Striking a balance between riding the rising wave and not washing out is as pivotal as it is difficult. One brand that’s been able to achieve it is Salé Sucré, which has managed to employ the aforementioned social media skits while maintaining its mature, professional visual and tonal identity that has earned it its consumer base. The same could be said for La Poire, whose similar approach “didn’t just generate novelty, [but also] multiplied engagement rates and brand relevancy among younger age groups,” Elhamy tells us.

Elhamy’s advice? Survive, adapt, but don’t let it come at the cost of your brand’s identity. “The real [way] to stand out has always been in sticking to the basics,” Elhamy says. “Use your communication to answer the core question: Why should the consumer choose me over competitors? When that answer isn’t clear, no strategy, tactic or execution can generate effective results,” he adds. “When brands excel at the basics and use technology thoughtfully to build lovable, relevant narratives, they don’t need to chase attention. They earn it.”

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ON THE TUBE TONIGHT

The roots of evil run deep in Welcome to Derry

📺 Creating a prequel for a beloved horror franchise is treacherous territory — even more so when that prequel also functions as a sequel. But Andy Muschietti and his creative team have risen to this challenge with IT: Welcome to Derry, delivering the first season (of a planned three-season arc) and largely succeeding in expanding Stephen King’s mythology without watering it down.

The show’s greatest achievement is how masterfully it weaves history, the supernatural, race relations, and intense fear into an intricate psychological horror. Set in 1962, the series follows decorated US Air Force pilot Leroy Hanlon and his family, who settle in a Maine town that harbors ancient evil, tracing the origins of IT’s Pennywise. Rather than feeling like a money-grab extension, the narrative integrates so naturally into the established IT universe that it feels like it was always meant to exist.

The show’s crown jewel is undoubtedly Bill Skarsgård’s return as Pennywise. The series improves significantly from the fifth episode onwards and becomes outstanding with his presence — he steals the show every time he pops on screen (literally and figuratively). Beyond terrifying audiences, this instalment showcases Skarsgård’s dramatic and comedic abilities — yes, comedic. He is a clown after all. A 1908 flashback reveals Bob Gray as a carnival performer, and Skarsgård brings genuine warmth and tenderness to these scenes before the inevitable horror consumes everything.

The show delivers horror in spades — the violence is plenty graphic and the scares are genuine. The series transforms mundane settings like movie theaters, grocery stores, and sewers into pure nightmare fuel. But what elevates Welcome to Derry beyond mere shock value is its sharp political commentary. The show addresses themes including abuse, racism, psychological trauma, and Cold War-era militarization, grounding its supernatural terrors in very real sociopolitical horrors.

While some episodes are uneven, and pacing issues haunt the first three episodes, the imperfections don’t derail the overall experience. The show rewards patient viewers with increasingly compelling horror and emotional payoffs, and the plot twist in the final episodes proves both unexpected and elegant — the kind of development that expands the IT mythology rather than exploits it. And that’s where Welcome to Derry succeeds where so many franchise extensions fail. For horror enthusiasts and King devotees alike, it leaves us hungry for what’s yet to come — and that’s exactly where a great first season should leave you.

WHERE TO WATCH- The series is streaming on OSN+. You can have a taste of it by watching the trailer on Youtube (watch, runtime: 2:38).

4

Sports

Algeria and Burkina Faso go head-to-head in tonight’s AFCON headliner

The second round of the AFCON group stages is still going strong, with Algeria and Burkina Faso headlining today’s action at 7:30pm. Algeria kicked off their campaign last Wednesday with a decisive 3-0 victory over Sudan, earning them a top spot in their group with three points. Meanwhile, Burkina Faso secured a hard-fought 2-1 W against Equatorial Guinea in their opener.

WHERE TO WATCH- BeIN Sports MAX 1.

Other AFCON matches on our radar today:

  • Gabon vs. Mozambique (2:30pm) — watch on BeIN Sports MAX 1;
  • Equatorial Guinea vs. Sudan (5pm) — watch on BeIN Sports MAX 2;
  • Côte d’Ivoire vs. Cameroon (10pm) — watch on BeIN Sports MAX 1.


On the home front: Zamalek is facing off against Baladiyat El Mahalla in the Egypt Cup round of 32 in a match that kicked off at 2:30pm. As of publication, Zamalek is ahead with one goal to Baladiyat El Mahalla’s nil.


European league fixtures on our radar:

  • Sunderland vs. Leeds United — Premier League (4pm);
  • Crystal Palace vs. Tottenham Hotspur — Premier League (6:30pm);
  • Cremonese vs. Napoli — Serie A (4pm);
  • Atalanta vs. Inter Milan — Serie A (9:45pm).

This publication is proudly sponsored by

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Mark Your Calendar

Ring in 2026 with Hakim at Somabay

🎉 Spending New Year’s Eve at SomaBay? You won’t miss out on the NYE fun — catch El Sahra with iconic singer Hakim at The Theatre, alongside performances by LaToya Live, Vlada, and DJ George Gehad. You can get your tickets for Wednesday, 31 December on Tali.

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GO WITH THE FLOW

What the markets are doing on 28 December 2025

The EGX30 rose 0.9% at today’s close on turnover of EGP 4.5 bn (17.8% below the 90-day average). Local investors were the sole net buyers. The index is up 39.9% YTD.

In the green: Misr Cement (+9.1%), Qalaa Holdings (+3.6%), and E-finance (+3.3%).

In the red: Beltone Holding (-1.4%), Abu Qir Fertilizers (-0.6%), and ADIB (-0.6%).

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INSIDE INDUSTRY

How the circular economy model is putting Egypt on the map as a regional telecom hub

📡 Egypt is undertaking one of the most ambitious experiments in turning the circular economy from theory into operational practice. This is taking place within the electronics sector through the One Circle initiative, supported by the United Nations Industrial Development Organization (UNIDO) and its partners. With partnership expansions and specialized centers for network equipment maintenance and phone refurbishment, Egypt is now a testing ground for replicable circular business models — a first step toward becoming a regional hub for telecom equipment rehabilitation and technical support services.

What we know: The initiative, under UNIDO’s SWITCH to Circular Economy Value Chains(Switch2CE) program, aims to reduce electronic waste and build a complete value chain that returns devices to the usage cycle through repair, refurbishment, and reassembly. Funded with EUR 21 mn, the initiative supports Egypt’s transition to a circular economy in electronics, reduces toxins from irresponsible e-waste disposal, raises awareness in rural communities about reuse and recycling, and empowers citizens and institutions to participate in a sustainable system that turns electronic waste into reusable resources.

From theory to practice: One Circle has successfully transformed the circular economy concept in Egypt from theory into an operational program by making the telecom sector the first local sector to have a full reuse system, according to UNIDO program manager Müge Dolun. Two specialized centers have been established: one network unit repair line in partnership with Nokia and global logistics and supply chain player DSV, and a smartphone refurbishment center in collaboration with electronics refurbishment company Upgrade, e-waste recycling company e-Tadweer, and Orange Egypt.

Results of the initiative:

  • More than 300 network units were repaired locally with Telecom Egypt and Orange Egypt;
  • Over 1.3k refurbished smartphones sold with certified warranties through Orange Egypt outlets, generating revenues of around EGP 40 mn;
  • 10.2 tons of electronic waste were collected, including over 2k phones;
  • More than 60 green jobs were created and technicians were upskilled in advanced repair technologies;
  • Partner networks expanded from 15 to 44 over two years;
  • 70.9 kg of carbon emissions were prevented.

Consumer acceptance challenges: Strong demand exists for refurbished devices, especially amid rising prices, and certified warranties boost consumer confidence. However, challenges include general distrust of second-hand devices, difficulty sourcing used devices locally, waiting lists for buyers, import restrictions on used devices due to national security concerns, and collection challenges, according to Orange Egypt.

Why Egypt? Companies participating in the initiative chose Egypt independently, Switch2CE chief technical advisor Mark Drake told EnterpriseAM. A large market, strategic geographic location, active telecom sector with around 500k specialists, high consumption of electronics, and increasing electronic waste make Egypt attractive. “Private sector companies do not stay in unrealistic projects. Their continued participation proves we are on the right track,” Drake added.

Egypt as a testing lab: The Egyptian experiment is a real laboratory for reuse and recycling business models. “We test and experiment: sometimes the model works, sometimes it needs adjustments, but the ultimate goal is a replicable, scalable model,” Drake said. Success in Egypt allows UNIDO to present the model to governments and financial institutions to facilitate funding and expansion. Egypt was chosen intentionally, with the medium-term goal of becoming a regional hub for telecom equipment rehabilitation, maintenance, and recycling.

Regulatory challenges and recommendations for early 2026: Major gaps in the sector include insufficient volume in collected devices and a lack of efficient collection mechanisms. UNIDO is discussing regulatory challenges with Egyptian government bodies and plans to release an analytical report in early 2026 outlining the legislative framework, prospects, and areas needing adjustment.

Funding is not the main challenge… The project is funded through grants and technical assistance from UNIDO, financed by the EU and the Finnish government. The main challenge is the lack of sustainable business models that investors can evaluate. UNIDO is working with the European Investment Bank to build local banks’ capacity to assess circular economy projects and fund circular investments.

… volume is. Recycling or refurbishment cannot succeed without sufficient quantity and quality of products. “We need large volumes of phones and electronics to attract private investment. This is what we are working on through new partnerships to collect devices from sales outlets,” Drake told us.

Future expansion: The circular economy in Egypt is profitable, practical, and efficient, according to UNIDO officials and partners. It presents an avenue for environmentally friendly investments, and positions Egypt as a regional hub for telecom equipment refurbishment, building a competitive green economy.


🗓️ DECEMBER

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

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

21-31 December (Sunday-Wednesday): The Stadium at District 5.

31 December (Wednesday): Taxi El Sahra – New Year’s Eve at CJC 610.

31 December (Wednesday): Disco Arabesquo – New Year’s Eve at CJC Agouza.

31 December (Wednesday): Saint Levant, Notre Dam, and Wass at Cubix, El Gouna.

31 December (Wednesday): Medhat Saleh at Theatro Arkan.

31 December (Wednesday): New Capital Countdown Festival at Capital Arena.

2026

JANUARY

January: Al Rawi Awards submissions open.

7 January (Wednesday): Coptic Christmas Day.

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

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

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

FEBRUARY

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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