A USD 220 mn solar component complex is coming our way

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What We're Tracking Today

It’s interest rate day in Egypt

Good morning, friends and happy Thursday to you all. We have a brisk issue for you this morning with fresh investment news leading the news well following the announcement of a USD 220 mn solar component complex courtesy of a consortium of Egyptian, Chinese, Bahraini, and Emirati investors. We also have German and Greek investments coming our way, with a German home furniture firm and a Greek textile player inking agreements to set up shop in Qantara.

In the fourth issue of our Destination Sahel series, we're bringing you the latest updates on New Alamein City and a look at the best investments in Sahel today. We also investigate the growing issue of beach erosion and its impact on our shores.

Look for Destination Sahel, Issue IV, in your inbox on Wednesday, 3 September.

Missed the first three issues? Tap here to read the full series.

PSA-

WEATHER- Cairo is in for another sunny day, with the capital looking at a high of 34°C and a low of 25°C, according to our favorite weather app.

It’s a little cooler in Alexandria, with a high of 31°C and a low of 23°C.

WATCH THIS SPACE-

What will our economy look like in five years? The Madbouly government is looking to finalize a five-year comprehensive development and economic plan through 2030 before the end of year, Prime Minister Moustafa Madbouly said during his weekly presser yesterday. A draft of the plan will be revealed in early September for public consultation, which will include targets for the upcoming five years built on Egypt Vision 2030, the outcomes of the National Dialogue, experts’ input, and strategies for key sectors like industry, tourism, agriculture, and ICT.

DATA POINT-

Egypt is home to 14.8k mn’aires, ranking only behind South Africa in Henley & Partners’ Africa Wealth Report 2025. The country also ranks second for bn’aires on the continent, with eight counted for the country, alongside 49 centi-mn’aires.

The country has seen a 15% drop in mn’aires in the last ten years, while Morocco — with roughly half the number of mn’aires and less than half our population — has seen a 40% increase over the same period.

HAPPENING TODAY-

It’s interest rate day: All eyes are on the Central Bank of Egypt’s Monetary Policy Committee’s (MPC) meeting later today, where the committee will decide on whether to cut or hold interest rates. Eleven of the economists and banking experts who participated in our poll forecast a rate cut between 100-300 bps, while only one analyst sees the CBE holding rates.

IN CONTEXT- The meeting comes shortly after Hassan Abdalla was reappointed as the acting governor of the CBE for another one-year term.

Fitch Solutions’ research unit BMI sees the CBE cutting rates by 100-200 bps during today’s meeting. The real interest rate, while falling from 11% to about 8% by year-end, will remain among the highest globally, thereby maintaining the attractiveness of our local debt instruments, BMI noted in its latest country risk report for Egypt.

Looking ahead: Including today’s anticipated cut, BMI expects the CBE to cut interest rates by an additional 400 bps by the end of this year. “Slowing inflation, resilient portfolio investments, the need to reduce debt servicing cost, reduced uncertainties about US tariffs and more monetary policy easing at key central banks globally are key factors that will prompt the CBE to continue easing its monetary policy cycle,” it said in the report. The research unit projects a further cooling in inflation in 2026, which will allow the CBE to cut rates by an additional 975 bps.

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THE BIG STORY ABROAD-

Nvidia beat analyst expectations yesterday, with revenue increasing 56% y-o-y to USD 46.7 bn in the second quarter of FY2026, while net income was also up 59% to USD 26.4 bn. The company expects growth to remain above the 50% level this quarter too, with USD 54 bn in sales.

BUT- The chipmaker’s stock price slipped 1.5% in extended trading despite the bumper quarter, as data center revenue came short of analyst expectations, declining 1% q-o-q.

OVER IN THE WHITE HOUSE- US and Israeli officials met yesterday to discuss “post-war Gaza,” with President Trump set to chair a separate meeting for a “comprehensive plan” for the next day, US envoy Steve Witkoff said. The meetings come amid a stall in negotiations and an imminent planned evacuation of Gaza City that is expected to compound the humanitarian situation and famine in the strip.

ALSO WORTH READING-

TikTok-owner ByteDance is reportedly eyeing a USD 330 bn valuation in the latest employee share buyback, citing sustained revenue growth. (Reuters)
How China’s electric vehicle juggernaut is reshaping the global car market. (CNBC)

An Egyptian, Chinese, Bahraini, Emirati USD 220 mn solar component complex is coming our way

TEDA is getting another solar power component production complex: Egyptian, Chinese, Bahraini, and Emirati investors are setting up a USD 220 mn industrial complex for solar energy components in the China-Egypt Teda industrial zone — they inked the land usufruct agreement yesterday, according to a statement.

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

Meet the players: There is Chinese manufacturer of solar components JA Solar ; Bahraini PE Infinity Capital ; Emirati resources investment firm Global South Utilities ; and Egyptian AH Group. The Chinese side will act as the technical investor, while the other partners’ roles in the project were not disclosed.

The details: The industrial complex — dubbed Atom Solar Egypt — will include three factories with a combined production capacity of 2 GW of solar cells — all of which will be exported — 2 GW of solar modules — which will feed the domestic and regional markets —- and a 1 GWh energy storage systems plant. The project will be completed within 3 years and will create 841 jobs.

We had an idea this was coming: GSU inked an MoU with JA Solar in November to establish two solar power factories — a solar cells plant and a solar panels plant

Not the first of its kind: Earlier this summer, China’s Sunrev Solar inked a contract with the China-Egypt TEDA trade zone to build a USD 200 mn integrated industrial complex for solar energy components.

REMEMBER- Both complexes align with Egypt’s broader strategy to localize 12 strategic industrial components, which includes solar cells, alongside electric motors, control panels, and elevators and others. The strategy aims to not only reduce the country’s import bill — and resultant strain on FX resources — but to also export these components.

There’s more to the story: Chinese solar power component manufacturers have been moving their production facilities to Egypt and the rest of the MENA region as they face pressure in their home market due to ongoing trade wars and geopolitical friction. We dive deeper into this trend in a Going Green published last month — check it out here.

The story got ink from the foreign press: Reuters.

IN OTHER INVESTMENT NEWS-

#1- German home furniture firm Sun Garden will invest USD 7 mn in a new factory for home furnishings, mattresses, and outdoor furniture in Qantara West, marking the first German industrial investment in West Qantara, the Suez Canal Economic Zone said in a statement. The project will create 500 direct jobs and earmark 90% of production for export.

#2- Greek textile firm Tzanidakis Miaxah Marinos is setting up a USD 4 mn ready-made garments factory in Qantara West, marking the first Greek industrial investment in the Suez Canal Economic Zone, the zone said in a statement. The facility will export 70% of output and create 1k direct jobs.

FinMin in talks with construction players over new VAT rules, but challenges remain

The Finance Ministry has been meeting with contractors and real estate developers to finalize the executive regulations for the latest VAT amendments, government sources told EnterpriseAM. Representatives of the Egyptian Federation for Construction and Building Contractors (EFCBC) and the Egyptian Tax Authority (ETA) were also in attendance.

REMEMBER- VAT amendments were ratified in July, subjecting construction and contracting services to the standard 14% VAT rate. Under the previous system, construction and contracting services were taxed at a flat 5% schedule rate without allowing companies to deduct input VAT. The government is estimated to make an extra EGP 200 bn in tax revenues from the recent VAT amendments, which also include taxing crude and cigarette tax hikes.

The meetings addressed several key issues, including the interconnection of the e-invoicing system, the awarding entities, and the tax calculation method for projects that were awarded before the VAT amendments passed or those still under construction.

While the ETA insists on enforcing the new law from the date of issuance, investors are pushing for a more lenient approach to address issues related to projects that are already underway, our sources said.

Contractors are unsure how to file their monthly VAT tax returns, a source from the EFCBC told us. The key issue is the lack of an agreement on how to handle projects awarded before the new amendments were issued. There is also the issue of existing inventory, the source highlighted, adding that if companies are not allowed to deduct the tax they have already paid on their stock of equipment, supplies, and building materials from operational cost, this could cause huge losses.

Case in point: Our source from the EFCBC said that his company purchased electrical transformers, motors, and other equipment for projects when the EGP / USD exchange rate was lower and shipping costs were favorable. Although the company paid the VAT on these items at the time of purchase, the ETA is refusing to allow the deduction of this tax, because the equipment has not been installed yet, the source said. This will result in about EGP 9 mn in losses.

As a result, many companies have contacted the ETA, requesting to deduct the tax paid on equipment they already had in stock, the EFCBC sources noted. Meanwhile, some government entities have requested the tax to be calculated at only 5%, pending new instruction from the ETA, while others are demanding a full 14% VAT deduction, the source added.

The EFCBC and real estate developers have submitted an urgent memo to the Finance Minister, proposing limiting the application of the VAT amendments to projects that were awarded after the law was enacted, the source said.

What’s next? All issues surrounding the application of VAT amendments to construction and contracting services will be resolved by next month with technical support committees set up to assist small contractors to join the new tax system, government sources told EnterpriseAM. The move will enable contractors to benefit from recent VAT amendments, allowing them to deduct input tax and, in turn, resolve the ongoing issues faced by subcontractors.

THERE’S MORE TO THE STORY- We dove into what new VAT rules could mean for contractors in a Hardhat published earlier this year. Check it out here.

Orascom Construction’s net income nearly triples in 2Q 2025

Orascom Construction saw its net income rise nearly threefold in 2Q 2025, coming in at USD 57.6 mn, up 198.4% y-o-y, according to its latest earnings release (pdf). Revenues rose 55.9% y-o-y to USD 1.1 bn during the same period on robust activity across the company’s core markets.

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

The breakdown: Revenues from Middle East and Africa operations nearly doubled y-o-y during the quarter, rising 98.1% to USD 636.6 mn, while revenues from US operations grew 21.0% to USD 471.7 mn. New awards rose 69.2% y-o-y over the same period to USD 1.8 bn, bringing the consolidated backlog to USD 9.6 bn.

On a 1H basis, revenues increased 32.4% y-o-y to USD 2.0 bn, while net income rose 26.5% y-o-y to USD 82.7 mn. Meanwhile, new awards increased 106.0% y-o-y to USD 3.4 bn, pushing up the company’s backlog 24.0%.

Looking ahead: “We continue to build on our steady course, delivering healthy results that demonstrate the consistent execution of our strategy,” CEO Osama Bishai said. “With two legacy legal cases favorably behind us, we have reinforced our position as we look ahead.”

KIMA REPORTS FY 2024-2025 EARNINGS-

Egyptian Chemical Industries (Kima) saw its net income shrink 60.5% y-o-y last fiscal year to record EGP 1 bn, according to the company's latest earnings release (pdf). Meanwhile, revenues increased 31.7% y-o-y to EGP 8.6 bn. The company attributed the dip in net income to an increase in the cost of sale and an increase in marketing costs.

Vodacom taps Ayman Essam as its new chief external affairs officer

Vodacom Group appointed Ayman Essam (LinkedIn) as its new chief external affairs officer, the telecoms giant said in a statement. Essam will now oversee external affairs across all of Vodacom’s African markets, including Egypt, South Africa, the DRC, Ethiopia, Kenya, Lesotho, Mozambique, and Tanzania. Essam has over 20 years of experience in the sector, most recently as Vodafone Egypt’s external affairs and legal director.

What they said: “We are delighted to welcome Ayman to the Vodacom Group executive committee. His deep sector knowledge and proven leadership make him the ideal candidate to strengthen our external affairs efforts across Africa. Ayman's appointment underscores our commitment to constructive engagement with stakeholders as we continue to deliver on our purpose of connecting for a better future,” said CEO Shameel Joosub.

GB Auto to localize the assembly of another Hyundai model

AUTOMOTIVE-

GB Auto will pour initial investments of USD 6 mn to begin assembling a new non-sedan Hyundai model in its Abu Rawash plant, Hyundai Franchise Vice President Fadi Mohsen told Hapi Journal, without disclosing the details. Production will begin with 5k units a year and go up to 15k units by mid-2026.

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

OIL AND GAS-

The Madbouly cabinet approved two draft petroleum exploration and exploitation agreements between Egyptian General Petroleum Corporation (EGPC), the Egyptian Natural Gas Holding Company (EGAS), and international partners. One of the agreements is for oil exploration in the Eastern Desert, and the second is for gas and crude oil exploration in the Nile Delta.

INVESTMENT-

Supermarket chain Bim plans to set up an EGP 1 bn logistics hub in Ismailia, Director of Legal Affairs Ehab Khalil told Al Borsa. The new facility will include multiple warehouses and cold storage units for essential goods, which will serve Bim’s retail branches in Ismailia, Canal cities, and Sharqia. The company has already launched tenders for contractors to execute the project.

REMEMBER- The move comes on the heels of reports from earlier this month that Bim is investing EGP 2 bn to open 200 new branches across Egypt this year, which would bring its total footprint to 650 locations.

OUTSOURCING-

US-based customer service giant Alorica will increase its Cairo workforce 450% by the end of 2025 to 1.5k employees, the company said in a statement (pdf). The phased expansion follows rising client demand across the travel, retail, healthcare, and tech sectors.

But why Egypt? “Central Cairo is quickly becoming the premier offshore CX hub, and we’re proud to have established our footprint here early on,” said Co-CEO Mike Clifton. Fellow Co-CEO Max Schwendner added that “we build where we see bold opportunity and lasting value — for our clients and our people” and “Cairo offers both.”

DEFENSE-

Turkey’s state-owned defence and tech firm Havelsan partnered with the Arab Organization for Industrialization to manufacture vertical takeoff and landing UAVs under an agreement inked between the two, Turkish Ambassador to Egypt Salih Mutlu Şen said in a post on X. The ambassador added that the production of unmanned ground vehicles by the two had already begun.

STARTUP WATCH-

Homegrown fintech startup Palm launched its incentivized goal-based investment platform, the company said in a statement (pdf). The move follows the company obtaining a portfolio management license from the Financial Regulatory Authority, enabling it to directly manage retail investments. This also comes shortly after the startup closed a seven-figure pre-seed funding round.

What they said: “With one app, users can plan their life goals, grow their money, and spend smarter through our merchant partners. This isn’t about putting money aside; it’s about making every EGP work harder, cutting costs where it matters most, and turning investing into something people look forward to,” CEO Mazen El Kerdany said.

Trump’s battle with the Fed could reshape financial markets for years to come

While markets barely blinked when US President Donald Trump said he was going to fire Fed Governor Lisa Cook, the damage may already be done, Wall Street Journal Chief Economics Commentator Greg Ip warned in his weekly — and EnterpriseAM fan favourite — Capital Account column. Analysts cited by Ip say that the attempt — the first of its kind in the Fed’s 111-year history — may be a turning point. If Trump succeeds, he would effectively draw the curtains on the central bank’s independence from presidential control, a principle that has underpinned US monetary policy since 1951.

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

The markets “are not properly priced for what increasingly seems likely to be a rupture in Fed independence,” Evercore ISI analysts noted. So far, optimism around rate cuts has helped keep stock markets buoyant, driven by Fed Chair Jerome Powell’s recent comments stating that tariffs are unlikely to stoke sustained inflation.

But if the Fed becomes more beholden to political pressure, investors will quickly have to adapt to a very different economic future. Trump’s broader strategy seems aimed at stacking the Fed board with loyalists, with the purpose of letting future rate decisions be informed not just by data, but by campaign cycles, potentially diluting the Fed’s core focus on inflation.

If Cook is successfully replaced off the back of fraud allegations — a topic Trump has a lot of experience in — Trump appointees would hold four of seven governor seats, giving him leverage over monetary policy even without directly removing Fed Chair Jerome Powell. “Once we have a majority, housing is gonna swing and it’s gonna be great,” Trump said on Tuesday.

Trump’s current and prospective Fed nominees are openly political — a major break from past practice. His candidates now signal clear policy stances aligned with his administration. Take Stephen Miran, who, while serving as an investment strategist last year, warned against cutting rates with inflation around 3%. Now, however, as chair of Trump’s Council of Economic Advisers and a contender to Powell, Miran has embraced Trump’s view that rates are too high. Another potential appointee by Trump, former World Bank president David Malpass, has recently written that the Fed should cut rates to support the USD, even though, by his logic, the greenback’s steady decline this year impedes such cuts.

MARKETS THIS MORNING-

Major Asian benchmarks are mostly in the green in early trading this morning, with the Nikkei, Shanghai Composite, and Kospi all in the green, and the Hang Seng in the red, down almost 1%.

EGX30	35,676	+0.9% (YTD: +20.0%)
USD (CBE)	Buy 48.58	Sell 48.71
USD (CIB)	Buy 48.60	Sell 48.70
Interest rates (CBE)	24.00% deposit	25.00% lending
Tadawul	10,808	-0.6% (YTD: -10.2%)
ADX	10,182	+0.1% (YTD: +8.1%)
DFM	6,127	+0.4% (YTD: +18.8%)
S&P 500	6,481	+0.2% (YTD: +10.2%)
FTSE 100	9,256	-0.1% (YTD: +13.2%)
Euro Stoxx 50	5,393	+0.2% (YTD: +10.2%)
Brent crude	USD 68.05	+1.2%
Natural gas (Nymex)	USD 2.87	+5.5%
Gold	USD 3,452	+0.1%
BTC	USD 111,203	-0.5% (YTD: +18.9%)
S&P Egypt Sovereign Bond Index	904.93	-0.1% (YTD: +16.4%)
S&P MENA Bond & Sukuk	148.30	-0.1% (YTD: +6.0%)
VIX (Volatility Index)	14.85	+1.6% (YTD: -14.4%)

THE CLOSING BELL-

The EGX30 rose 0.9% at yesterday’s close on turnover of EGP 4.5 bn (15.5% below the 90-day average). Regional investors were the sole net sellers. The index is up 20.0% YTD.

In the green: Eastern Company (+4.1%), Raya Holding (+3.9%), and Orascom Construction (+2.1%).

In the red: Rameda (-1.8%), Mopco (-1.7%), and GB Corp (-1.6%).

CORPORATE ACTIONS-

Edita calls EGM to vote on canceling its GDR program: Snackmaker Edita invited shareholders to an extraordinary general assembly on 22 September to vote on canceling its London-listed global depositary receipts (GDRs), after its board approved the move, according to an EGX disclosure (pdf).

Al Nahyan wraps up two-day trip to Egypt

That’s a wrap on Al Nahyan’s time in Egypt: UAE President Sheikh Mohamed bin Zayed Al Nahyan left Egypt yesterday, wrapping up a two-day visit, where he met with President Abdel Fattah El Sisi, according to an Ittihadeya statement. The visit came “within the framework of strengthening ties between the two nations and affirming the importance of continuous consultation and mutual coordination to serve the interests of the two brotherly peoples and enhance security and stability in the region.”

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

AND- Lebanese Prime Minister Nawaf Salam landed in Egypt yesterday for his first visit since taking office. Salam met with President Abdel Fattah El Sisi, Prime Minister Moustafa Madbouly and other cabinet members to discuss the situations in Lebanon and Gaza, according to an Ittihadeya statement. Salam noted the Lebanese government’s plan to strengthen cooperation with Arab countries, particularly Egypt, highlighting the upcoming Egypt-Lebanon Higher Joint Committee session taking place in Cairo later this year.

PLUS- Foreign Minister Badr Abdelatty held a phone call with his German counterpart Johann Wadephul to discuss the worsening humanitarian crisis in Gaza, according to a ministry statement. Abdelatty called on Germany — one of Israel’s most supportive allies and its second largest supplier of weapons, behind only the US — to pressure Israel into removing entry restrictions of humanitarian aid going into the besieged strip. The minister’s comments follow several UN bodies declaring last weekend that a famine is taking place in Gaza for the first time.

My Morning Routine: Mohamed El Taher, CEO of Saudi Egyptian Developers

Mohamed El Taher, CEO of Saudi Egyptian Developers: Each week, My Morning Routine looks at how a successful member of the community starts their day — and then throws in a couple of random business questions just for fun. Speaking to us this week is Saudi Egyptian Developers CEO Mohamed El Taher (LinkedIn). Edited excerpts from our conversation:

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

My name is Mohamed El Taher, and I’m the CEO of Saudi Egyptian Developers. I’ve been with the company since 2019. Before that, I was the CEO of Al Ismaelia for Real Estate Investment. I've spent about 24 years in the real estate industry, though I originally studied electrical engineering. Numbers have always been a passion of mine, which led me to pursue an MBA in finance and investment.

As CEO, I’m responsible for everything — but not directly. My job is to make sure problems are solved, people are aligned, and the business is moving in the right direction. I like hiring people who understand the business and bring solutions to the table. Strategy is important, but what matters most to me is creating cohesion. I believe in democracy of discussion, dictatorship of decision — everyone has the right to voice an opinion, but at the end of the day, one person has to decide.

Real estate dynamics are becoming more challenging. We used to have a steady state strategy or business plan that would last the whole year, and sometimes for several years, but now there are many variables, such as new lands being offered, new projects, interest and exchange rate fluctuations, market demand, lack of resources, and many new players joining the market. We need to make sure we’re watching out for everything happening around us.

My main role, besides maximizing returns, is to make people I work with feel safe. My employees should feel safe and comfortable talking to me and take advice or guidance from me, and the shareholders should feel safe that the company is in good hands with me.

Saudi Egyptian Developers was founded in 1975. While it operates as a private sector company, its capital is public — owned equally by the Saudi Finance Ministry and Egypt’s Housing Ministry. We’ve developed more than 60 projects across Egypt, including in Cairo, the North Coast, Alexandria, Mansoura, Damietta, and Assiut, as well as new cities like the new capital, New Alamein, and New Fayoum.

Our portfolio is diverse, spanning residential, commercial, and hospitality developments. In January 2025, we opened a 256-room Hilton on the Nile Corniche in Maadi. Some of our Nile-facing units can fetch up to EGP 100 mn, while others, like those in Assiut, are priced at around EGP 1.5 mn. Each project has its own identity, and we currently have seven underway, including Nile Towers, Arabesque, Central, Jayd, and Marina 8.

We’re also planning to expand. We’ve acquired two 100-feddan land plots — one in the Sixth Settlement and another in West Cairo. In addition, we’ve launched Marina 8 By The Lake, which features a natural lagoon directly connected to the sea, with more launches planned in the coming months.

Real estate is one of the most dynamic sectors in Egypt. We’re always seeing constant shifts in sales, projects, and regulations, which makes it harder to navigate, but demand remains resilient. Property is increasingly seen as a hedge — a store of value in uncertain times — so even during downturns, sales hold up. Our goal is to provide the best possible living standards, not just generate revenue. The challenge is to avoid being priced out of reach. At the end of the day, we’ve provided homes to more than 30k families, and that’s what matters most. Enhancing the customer experience is central to our model; it’s not only about selling units, but building communities with strong design, amenities, and security.

My day starts the night before as I plan meetings for the day, check my calendar, and review priorities. I usually wake up between 8-9am, after having six hours of sleep and never more than that; otherwise, I won’t be able to sleep at night the next day. Mornings begin with coffee, some time for myself, and some with my wife. I always read EnterpriseAM in the morning; I’ve been reading it for about ten years now — both the AM and PM editions. I also don’t exercise in the morning, because I feel like I have more energy later in the day, so I will usually do my workouts after work. I also enjoy picking my clothes in the morning, as I think of it as a small mental exercise to begin the day.

A typical workday includes meetings and walking the floor to check in with the team, making sure projects are on track and resolving any conflicts. I take a short midday break to catch up with my wife or friends, as it gives me energy to power through the rest of the day. I usually finish work at around 7pm, head to the gym, then spend the evening with my family, have dinner, watch a movie, or read a book.

The one constant in my day is my kids. Sitting down and talking with my two daughters and son is a priority, and I make sure to check with them every day, give them advice, and offer guidance. Most importantly, I make sure to listen to them and understand them.

Staying focused isn’t easy. I’ve learned to work with, not against, who I am. I multitask a lot, and I’ve trained myself to pull back when I drift and refocus on what I’m doing. My most productive hours are between 4-6pm, so that’s when I handle the tasks that need my full attention. At the end of the day, I relax by playing simple games on my phone. I’ve stepped away from social media because it’s too overwhelming.

Work-life balance is one of the hardest things to achieve. I’ve never seen anyone excel equally in both. You have to prioritize either. Sometimes I sacrifice sleep to spend time with family and friends, because those moments matter more — sleep can be made up for, memories cannot. If you love what you’re doing, whether work or family, you won’t feel fatigued. I hate routine. If I’m not excited about something, I stop.

Right now, my focus is on making life easier for the people around me. I don’t have a single defined goal, but I want to eventually dedicate more time to helping people — through education or a charity, for example. Right now, I only contribute remotely, but hopefully one day I can be more hands-on. For now, my priority is what’s already on my plate, which is my family and work.

Some of my top book recommendations are The Seven Habits of Highly Effective People by Stephen R. Covey and Jim Collins, The 48 Laws of Power by Robert Greene, and Who Moved My Cheese by Spencer Johnson — a short, powerful book about adapting to change. I’m also a fan of Malcolm Gladwell’s Outliers, Blink, and The Tipping Point. Right now, I’m reading Salt, a history of the salt industry, which I found surprisingly fascinating.

The best advice I’ve received came from my mentor and former manager, who said, “don’t lose the forest for the trees.” It’s easy to get caught up in details and lose sight of the big picture. Every now and then, I step back and ask whether we’re still moving in the right direction overall. Another piece of advice I live by is to focus on what’s within your circle of control — your family, your work, your contribution to society — and not to waste energy on what you can’t change.

CALENDAR

AUGUST

28 August (Thursday): Monetary Policy Committee meeting.

Mid-August: Launch of electronic platform to register Old Rent Law tenants.

Tourism Development Authority to waive late payment penalties for land purchases if full installments are paid

Late-August: Deadline for cement factories to restart production.

SEPTEMBER

1 September (Monday): New Labor Law comes into effect

1-3 September (Monday-Wednesday): Pharmaconex Exhibition, Egypt International Exhibition Center.

3 September (Wednesday): S&P Global to release PMI figures for August.

8-11 September (Monday-Thursday): EFG Hermes London Conference takes place in the British capital.

9-11 September (Tuesday-Thursday): The International Exhibition for Paper, Corrugated Board, Paperboard and Tissue Paper Industries — PAPER-ME — takes place at the Egypt International Exhibition Center.

10 September (Wednesday): Capmas and CBE to release inflation data for August.

15 September (Monday): IMF to hold its combined fifth and sixth reviews of Egypt’s USD 8 bn EFF arrangement.

24-27 September (Wednesday-Saturday): Cityscape Egypt 2025, Egypt International Exhibition Center.

30 September (Tuesday): The Egypt-South Korea Economic Cooperation and Partnership Forum.

The Egyptian-Moroccan Business Council to send a delegation of 23 local companies to Rabat.

The Engineering Export Council of Egypt will ship a commercial delegation to Russia to ramp up exports to European markets.

Egypt Education Platform (EEP) to launch two new schools in Alexandria and Somabay.

Egypt Otsuka’s nutritional products factory in Tenth of Ramadan to begin operations, with exports to Gulf countries expected by January 2026.

OCTOBER

1 October (Wednesday): Applications for alternative housing for old rent tenants will open through an online platform or at post offices nationwide.

2 October (Thursday): Monetary Policy Committee’s sixth meeting.

7 October (Tuesday): The 2025 EnterpriseAM Egypt Forum.

7-8 October (Tuesday-Wednesday): HACE-Hotel Expo, Egypt International Exhibitions Center.

7-9 October (Tuesday-Thursday): EgyMedica Exhibition, Cairo International Convention Center.

12-16 October (Sunday-Thursday): Cairo Water Week, Cairo.

19-20 October (Sunday-Monday): Egypt to host the fifth edition of the Aswan Forum.

19-22 October (Sunday-Wednesday): Arab African Investment and International Cooperation Summit.

23-25 October (Thursday-Saturday): Stone Africa Expo, Cairo International Conference Center.

October: The third iteration of the Export Smart Exhibition and Conference.

Mid-October: Capmas to publish the findings of its 2023-2024 income and expenditure survey.

NOVEMBER

16-19 November: Cairo ICT 2025, Egypt International Exhibition Center

20 November (Thursday): Monetary Policy Committee meeting.

November: Egypt to join the EU’s Horizon Europe research and innovation program.

DECEMBER

1-4 December: Egypt Defence Expo (EDEX), Egypt International Exhibition Center.

25 December: (Thursday): Monetary Policy Committee meeting.

EVENTS WITH NO SET DATE

Mid-2025: EGX launches sustainability index.

3Q 2025: Nasr Automotive begins locally manufacturing passenger cars.

3Q 2025: Polaris Parks to finalize contracts for two new industrial zones in the new capital and Sadat City.

Mid-2025: The Administrative Capital for Urban Developments to roll out the second phase of offering industrial plots to investors

2H 2025: Potential visit by Chinese President Xi Jinping to Egypt

4Q 2025: The beginning of construction works on China’s State Grid two solar projects.

4Q 2025: GB Auto starts assembling one of China’s Great Wall Motor models in 4Q 2025.

4Q 2025-1Q 2026: Kasrawy Group to launch first Avatr EV models in Egypt.

2025: The InterAcademy Partnership assembly.

2025: Nile Basin States Summit, Cairo, Egypt.

2025: Release of the government’s Startup Charter document.

Before 2025-end: The government will launch two ro-ro shipping lines with Saudi Arabia and Turkey.

2026

Early 2026: Passenger operations on the New Administrative Capital–Nasr City monorail scheduled to begin.

1Q 2026: Trial operations for the Ain Sokhna–Sixth of October section of Egypt’s first high-speed rail line scheduled to begin.

1 January: European Union’s Carbon Border Adjustment Mechanism (CBAM) to fully come into effect.

10-12 February (Tuesday-Thursday): Gitex Global’s AI Everything Middle East & Africa Summit

15 March 2026: IMF to hold its seventh review of Egypt’s USD 8 bn EFF arrangement.

May 2026: End of extension for developers on 15% interest rates for land installment payments

15 September 2026: IMF to hold its eighth review of Egypt’s USD 8 bn EFF arrangement.

2H 2026: Operations at Deli Glass Co’s new USD 70 mn glassware factory kick off.

2027

20 January-7 February: Egypt to host the African Games.

April 2027: Tenth of Ramadan dry port and logistics hub to begin operations.

EVENTS WITH NO SET DATE

2027: Egypt to host EBRD’s annual meetings for 2027.

End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.

September 2028: First unit of the Dabaa nuclear power plant begins operations.

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