Analysts and economists see February inflation dipping sharply

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What We're Tracking Today

Egypt wants to attract more WtE investments

Good morning, friends. We have another brisk issue for you to wrap up the first workweek of Ramadan.

So, when do we eat? Maghrib prayers are at 5:57pm in the capital, and you’ll have until 4:48am tomorrow to hydrate and caffeinate ahead of fajr.

PSA-

WEATHER- Cairo is in for another rainy day, with a high of 21°C and a low of 13°C, according to our favorite weather app.

It’s more or less the same in Alexandria, with a high of 20°C and a low of 11°C.

And over the weekend, expect to see a high of 23°C and a low of 12°C in the capital.

** DID YOU KNOW that we now cover Saudi Arabia and the UAE?

** Were you forwarded this email? Tap or click here to get your own copy delivered every weekday before 7am Cairo time — without charge.

WATCH THIS SPACE-

#1- Egypt wants to attract more WtE investments: The environment and finance ministries are working to boost investments in waste-to-energy (WtE) projects by amending laws regulating public contracts and increasing the feed-in tariff rate, according to a joint statement from the two ministries. Land for WtE projects has already been allocated across eight governorates for completion over the next three or four years.

REMEMBER- The government was set to sign contracts with eight local-foreign consortiums to produce a total of 1.7 bn Kw/h of electricity from municipal solid waste at a total cost of up to USD 1.2 bn in August. The government has long been planning to boost electricity generation from municipal waste, initially setting a target back in 2020 of generating 300 MW of electricity from WtE projects by 2025.

#2- Saudi Arabia’s cabinet greenlit the Egypt-Saudi Agreement on Promotion andMutual Protection of Investments that is expected to help protect Saudi investors as they ramp up investment in Egypt. The agreement is expected to bring upwards of USD 10 bn in bilateral investments over the next three years.

#3- The gov’t will begin releasing imported cars for people with disabilities from ports following a decision to ease restrictions on proof of payment transfers, according to new directives from the Port Said Customs Office seen by EnterpriseAM Egypt. The amended rule allows buyers to prove financial ability through a bank, postal account, or a property sale contract instead of requiring a bank transfer receipt.

This comes after tighter import rules were introduced last October to close a loophole that allowed some to import cars under disability exemptions without paying the required fees. Egypt has collected some EGP 3 bn in fines from individuals who misused disability vehicle exemptions since last June, Deputy Finance Minister for Tax Policies Sherif El Kilani told Asharq Business.

The gov’t will also begin releasing passenger vehicles stuck at ports without ACID numbers required to import cars after the Prime Minister approved the move, according to another document seen by EnterpriseAM. However, car owners will need to pay owed customs and fees as well as a USD 110 fee.

Remember: Cars had been piling up in Egypt’s ports over the past few months after the authorities refused to release cars whose owners had tried to dodge the passenger car registration restrictions by registering their passenger cars under other categories.

GAZING INTO THE CRYSTAL BALL-

New gov’t growth figures estimate GDP growth to accelerate to 4.5% in FY 2025-26: Planning and International Cooperation Minister Rania Al Mashat said that the government expects growth to accelerate to 4.5% in FY 2025-26, up from a 4.0% projection for FY 2024-25, with growth coming “despite challenges posed by global protectionist trade policies,” she said in an interview with CNN.

The government’s new projection is more optimistic to some, but less optimistic than others: Al Mashat’s FY25-26 forecast is a few percentage points higher than the IMF’s recently slashed growth forecast of 4.1% and the World Bank’s revised projection of 4.2% for the fiscal year. However, the forecast is less optimistic than the EBRD’s, which sees growth expanding to 4.6% in the next fiscal year as investor confidence strengthens and reforms gain traction, BNP Paribas’ forecast of 4.7%, and Capital Economics’ optimistic view that growth will accelerate to 5.3%.

DATA POINT-

The number of factories in the Suez Canal Economic Zone (SCZone) has doubled to 130 over the past three years, with another 120 under construction, Prime Minister Moustafa Madbouly said in his weekly presser yesterday.

THE BIG STORY ABROAD-

The Trump tariff continues to capture the attention of the foreign press: US President Donald Trump granted a 30-day tariff exemption for vehicles that comply with the United States Mexico Canada Agreement (USMCA), giving companies a brief window to adjust. The move follows a meeting between representatives from Ford, General Motors, and Stellantis and the Trump Administration — US automakers are scrambling to assess the impact of the tariff. (Reuters | Washington Post | AP | Bloomberg)

CLOSER TO HOME- Trump escalated threats against Gaza’s population, warning, “to the People of Gaza: A beautiful Future awaits, but not if you hold Hostages. If you do, you are DEAD.” He vowed there would be “hell to pay” if Hamas doesn’t release the Israeli hostages held in Gaza. The US President’s remarks came as Adam Boehler — Trump’s top hostage negotiator — held direct talks with Hamas officials in Qatar. The meeting comes as Israel and Hamas discuss extending the now-expired ceasefire. (BBC | AP | The Guardian)

MEANWHILE- German borrowing costs saw their biggest spike in nearly three decades following a EUR 500 bn debt agreement to boost military and infrastructure spending. (Financial Times | Reuters)

Somabay partners with Marriott International to launch an Autograph Collection Hotel, opening in 2027 with 194 sea-view rooms, world-class dining, and wellness facilities. This marks its second collaboration with Marriott after Sheraton Soma Bay (1999). Somabay is home to a collection of renowned hotels, including Kempinski, The Cascades, Robinson Club, and The Breakers, offering a diverse range of luxury, wellness, and lifestyle experiences along the Red Sea.

Egypt’s inflation projected to have dipped sharply in February -EnterpriseAM poll

Egypt’s inflation is expected to have cooled significantly in February, with analysts only divided over just how far the month’s annual headline urban inflation reading will fall. Some are predicting that the figure could inch close to a single digit on the back of a favorable base effect, while others penciled in more modest predictions. The median forecast of the ten analysts polled by EnterpriseAM was for annual headline urban inflation falling to 14.3%.

Those polled gave predictions that range from 12.5-22.5%, with most of the respondents expecting the inflation figure to come below 15% — in what would be the lowest reading since September 2022.

Where inflation stood the previous month: Annual headline urban inflation dipped to 24.0% in Jan uary, marking a 0.1 percentage point drop from December. January’s figure was the nation’s lowest inflation reading since December 2022, when inflation recorded 21.3%. Since then, inflation had been on an upward trend before beginning to slow down for three consecutive months starting November 2024.

Driving the projected drop this month: “First of all, the significant base year effect will be one of the driving factors to making inflation fall below 20%, and it will come despite seasonal pressures related to food inflation, with goods including poultry seeing an increase in prices with the beginning of Ramadan. Other factors include possible changes in the education and healthcare baskets, which could also influence the reading,” economist Mona Bedeir told EnterpriseAM, predicting a reading of 14.8% this month.

Some are predicting an even lower reading, with Capital Economics’ James Swanston penciling in a prediction of 12.5%. This would mark the lowest inflation reading since March 2022, when the figure stood at just under 10.5%.

Not everyone is as optimistic: “Inflation in Egypt is expected to continue slowing down during February, with projections placing the rate between 20-22%,” economist Hany Abou El Fotouh told EnterpriseAM. Banking expert Mohamed Abdel Aal gave a similarly conservative estimate of inflation slowing to 22.5%.

The story might be different on a monthly basis: On a monthly basis, HC Securities’ Heba Mounir sees inflation increasing to 2.9% on the seasonal effect of Ramadan and increased consumer spending, she told EnterpriseAM, adding that she predicts annual headline urban inflation to decelerate to 14.5% y-o-y in February.

Slowing inflation will have a big role to play in the next Monetary Policy Committee (MPC) meeting: “Previous statements by the CBE have pointed at wanting to see a sharper and sustained fall in the headline inflation rate, and with earlier falls in the EGP now falling out of the annual price comparison, we suspect that February and March's inflation data will provide policymakers with the evidence to loosen monetary policy,” Swanston told us.

A cut is not set in stone, however: Some of the analysts who spoke to EnterpriseAM indicated that the MPC could adopt a more cautious approach and keep interest rates unchanged temporarily to monitor conditions before initiating a gradual reduction later in the year. “Geopolitical conditions in the region, along with fluctuations in global commodity prices, remain key factors that could influence both inflation and interest rates,” Abou El Fotouh told us. EFG Hermes’ Mohamed Abu Basha agreed, telling us that the next two inflation readings “should pave the way for an interest rate cut in April unless there is a new development in geopolitical variables in the region or global inflation, both of which were mentioned in the latest statement from the MPC.”

REMEMBER- The MPC decided to keep interest rates unchanged when it held its first meeting of the year in February, in what was expected by some to be the beginning of its long-awaited monetary easing cycle. The MPC deemed that “the current policy rates are appropriate to maintain a sufficiently tight monetary stance. This will ensure the realization of the projected disinflation path, and firmly anchor inflation expectations. Accordingly, the Committee’s decisions regarding the appropriate time for beginning the accommodative cycle will be assessed on a meeting-by-meeting basis.”

When do we get February’s inflation figures? State statistics agency Capmas is expected to release February’s inflation data on Monday, 10 March.

Egypt to welcome up to 900 mcf/d of Cypriot gas by 2030

A whole lot of Cypriot gas will be coming our way by the end of the decade: Egypt’s liquefied in facilities will start receiving 400 mn cubic feet per day (mcf/d) from Cyprus’ Cronos gas field starting mid-2027 and another 500 mcf\d of gas from the country’s Aphrodite field by 2030, a senior government official told Asharq Business.

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

REMEMBER- The Oil Ministry kicked off the Egypt Energy Show last month by signing two agreements with Cyprus to liquify and re-export Cypriot natural gas, following months of talk about an energy corridor connecting the two nations. The agreements came as part of the government’s push to return Egypt to its status as a net LNG exporter. Under the agreements, Cyprus will ship natural gas from its offshore fields to be liquefied in facilities in Idku and Damietta before being re-exported to foreign markets.

Al Ismaelia eyes USD 100 mn funding round in 2H 2025

Al Ismaelia targets USD 100 mn in fresh funding: Ismailia for Real Estate Investment is looking to boost its EGP 385 mn capital by USD 50-100 mn through a regional funding round in 2H 2025, Chairman Karim Shafei said during a presser attended by EnterpriseAM yesterday. The announcement comes as the company prepares to IPO on the EGX within two to three years, Shafei noted.

Big things are in store for Downtown Cairo this year: The developer has earmarked EGP 250-300 mn to acquire and revamp three buildings — including a boutique hotel — in Downtown Cairo this year, Deputy CEO Philopateer Dimitri said. The developer also has plans to develop its existing properties of serviced apartments, commercial units, and cultural venues this year, according to a statement (pdf).

Just launched: Al Ismaelia recently launched Mazeej Balad — a boutique hotel with distinct architectural flair — and plans to launch two more hotels by the end of 2026, Shafei added. The firm is also working to repurpose heritage properties spanning 15k sqm in Downtown Cairo into hospitality, commercial, and office spaces, according to Dimitri.

Also part of the plan: Al Ismaelia has partnered with the Housing Ministry and the European Bank for Reconstruction and Development to map out development plans for Downtown Cairo, Shafei said, adding that the company is open to working with the Sovereign Fund of Egypt — the entity in charge of a plan to revamp Downtown Cairo — on projects in the area.

Egypt to overhaul its Industry Ministry’s scope of responsibilities

The Madbouly cabinet approved several key measurements during its weekly meeting yesterday, including fatwa issuance regulations, reforming Al Azhar’s teacher hiring process, and setting up a green industrial zone in Ras Shukeir.

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

#1- Overhauling the Industry Ministry’s scope of responsibilities: Cabinet approved a draft decision put forth by Prime Minister Moustafa Madbouly defining the responsibilities of the Industry Ministry and its affiliated entities. Under the decision, the ministry will work to modernize and develop Egypt’s industrial sector and increase its competitiveness by setting industrial goals and strategies, developing and managing industrial zones, offering incentives, regulating the sector, and more.

#2- Setting up a Ras Shukeir industrial zone: The cabinet approved the establishment of a green industrial zone for petrochemical and green hydrogen production in the Gulf of Suez’s Ras Shukeir. It also gave an initial nod for the Transport Ministry to proceed with contracts for a green hydrogen and green ammonia project in Ras Shukeir in partnership with a consortium of international companies, the Red Sea Ports Authority, and the New and Renewable Energy Authority.

#3- Regulating the issuance of fatwas: The cabinet greenlit a draft law designating the entities that are authorized to issue fatwas (religious edicts). The legislation stipulates that general fatwas — those that address issues of public concern — are the domain of Al Azhar’s Council of Senior Scholars and Dar Al Ifta. Meanwhile, private fatwas — which apply to individual cases — are to be issued by the Council of Senior Scholars, the Islamic Research Academy, Dar Al Ifta, or the Endowments Ministry’s fatwa committees.

#4- Streamlining teacher hiring at Al Azhar: The cabinet also approved regulatory amendments that will place Al Azhar’s teaching recruitment procedures under the oversight of the Central Agency for Organization and Administration. The measure aims to create a uniform hiring process for teaching positions across both Al Azhar and the Education Ministry and address teacher shortages at Al Azhar institutions.

Palm Hills, NBE, Infinity Power bring home the silverware Global Banking and Markets’ Africa Awards

#1- NBE, Palm Hills Development, and Infinity Power have made it into the 2025 Global Banking and Markets’ AfricaAwards. Palm Hills’ EGP 10.3 bn long-term syndicated financing facility for its Badya project was picked for the North Africa Deal of the Year, while the National Bank of Egypt (NBE) was named the North Africa Investment Bank of the Year. Infinity Power’s acquisition of Africa-focused wind power platform Lekela Power was named the M&A Transaction of the Year. The awards aim to recognize the most innovative and ground-breaking transactions from sovereign, corporate, and financial institution issuers and borrowers.

#2- Our friends at EFG Holding obtained the ISO 20000 certification, a globally recognized accreditation that offers “a comprehensive, technical, and financial framework for managing IT services throughout their lifecycle,” it said in a press release (pdf). The certificate underscores the bank’s “dedication to excellence” and “commitment to continuously improving the services” they deliver, the group’s CIO Mohamed Sayed Fathy said.

#3- Tamweely earns dual international certifications for financial compliance: Local microfinance provider Tamweely secured both AML 30000 and MSI 20000 international certifications, related to financial crime and financial governance, respectively, according to a company statement (pdf).

A USD 50 mn home appliances complex incoming?

MANUFACTURING-

#1- Royal Home eyes USD 50 mn appliances complex: Local home appliances manufacturer Royal Home plans to establish a USD 50 mn industrial complex for electrical appliances in the Tenth of Ramadan within two years, the company’s CEO told Al Borsa.

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

The details: The hub will have an annual production capacity of 150k units, including refrigerators, deep freezers, air conditioners, fully-automatic washing machines, and stoves — the company's primary product. Some 70% of the complex’s output will be earmarked for export. The group plans to self-finance 65% of the project's cost, with the remainder to be secured through bank facilities. Negotiations are currently underway with the National Bank of Egypt to obtain the required financing in EGP.

#2- Cardboard producer PackTech plans to invest USD 5 mn this year to expand its production capacity, Chairman Alaa El Sakaty told Al Borsa. The company plans to add a new production line at its Badr City facility and boost exports to around USD 15 mn, with plans to expand into the Libyan and Iraqi markets, he said.

REGULATION WATCH-

The Financial Regulatory Authority bumped up the limit on microins. coverage to EGP 312.5k from EGP 250k in a bid to safeguard low-income individuals and bolster their ability to invest in small businesses. The move follows the ratification of the Unified Ins. Law, which came into force in July introducing new, comprehensive rules for regulating the ins. industry.

EXPANSION-

Elsewedy Electric to handle half of Hungarian power project construction: Elsewedy Electric will deliver 50% of the engineering works and supplies needed for the EUR 700 mn combined cycle power plant it is building in Hungary, according to an EGX disclosure (pdf).

ICYMI- Elsewedy Electric was awarded an EPC contract for the plant last month by MVM Matra Energia, marking Elsewedy Electric’s first venture in Europe. The project is expected to be completed by 2028.

AUTOMOTIVE-

Gov’t allocates EGP 1 bn to localize the automotive industry: The Finance Ministry allocated EGP 1 bn in the current fiscal year’s budget to fund the Automotive Industry Development Program (AIDP) and attract investments in car manufacturing, according to a ministry statement. The state aims to increase the local component ratio in vehicle production to over 45% this year.

Leading the way is Nissan: Nissan was the first to receive EGP 120 mn in incentives under the program, the statement read. The Japanese auto giant’s popular Sunny model has the highest local component ratio of any passenger car in the local market and its most recently announced model to be assembled locally will have a local component ratio of no less than 54%.

DEBT-

Banque Misr extends EGP 2.6 bn loan to Hyde Park for North Coast project: Property developer Hyde Park Developments lined up a EGP 2.6 bn medium-term loan with Banque Misr to finance part of the investment cost for its Seashore project, according to a statement (pdf). The project is located on the North Coast, spans 240 feddans, and will include residential and hotel buildings for sale in addition to commercial units available for rent.

STARTUPS-

Investment and portfolio management firm A Ventures upped its stake in waste management startup Mrkoon to 28%, following up on its pre-seed backing, according to a press release. Markoon will use the new capital to fuel its regional expansion into the GCC. Last summer, A Ventures Chairman Ayman Abbas acquired a 20% stake in Mrkoon in a EGP 2 mn transaction.

More on Mrkoon: Founded in 2022, Markoon is a B2B platform that helps industrial and manufacturing businesses offload surplus materials and scraps.

Private equity industry’s AUM fell for the first time in decades amid liquidity crunch

Global private equity fundraising took a hit in 2024, with buyout funds securing 23% less capital than the previous year as the tighter rate environment and a slowdown in exits led to weaker capital distributions, prompting LPs to scale back new commitments, according to Bain & Company’s global private equity report (pdf). “While global buyout AUM has tripled over the past decade, distributions as a percentage of net asset value have fallen from an average of 29% from 2014 to 2017 to 11% today,” the report reads.

Global buyout assets under management (AUM) dipped for the first time on record — since Bain began tracking industry assets in 2005 — to USD 4.7 tn as of June 2024, down 2% y-o-y.

Still, 2024 saw higher buyouts + more exits: The total value of buyouts was up 37% y-o-y to USD 602 bn last year (excluding add-on transactions) with an increase in transaction count. Exits were also up 34% with transactions worth a total of USD 468 bn, with an increase in exit count over the same period, according to the report.

The number of closed funds dropped, and over a third of those that did close had been fundraising for two years or more. Limited partners (LPs) prioritized established firms with strong track records, making it tougher for smaller or newer funds to attract capital, Bain said.

The key takeaway: GPs will need to differentiate themselves through operational value creation rather than relying on financial engineering, Bain advised. Mega-funds and sector specialists are expected to lead in fundraising, while generalist strategies are more likely to face headwinds, according to the report.

“That spells a clear mandate for GPs: If you can’t offer investors a differentiated value proposition, raising your next fund is going to be a serious challenge,” according to the report.

GPs have already started to get creative, leveraging minority stake sales, dividend recaps, secondaries, and NAV loans — strategies that have already generated USD 360 bn last year without full divestments.

A bumpy year ahead: “It won’t all be better in 2025 [...] it's a three- or four-year problem,” Chair of Bain’s global private equity practice, Hugh MacArthur told the Financial Times, adding that “the pace of liquidity coming back to [fund investors] continues to be stressed.”

MARKETS THIS MORNING-

Asian markets opened higher this morning, tracking gains on Wall Street following US President Donald Trump’s decision to delay tariffs on some automakers. Japan’s Nikkei and the Topix were both up nearly 0.8%, while South Korea’s Kospi was up 0.6% and Hong Kong’s Hang Seng was up 2% on the back of rallying tech stocks.

Over on Wall Street, futures are dipping slightly as a volatile week of trading nears its end.

EGX30	30,876	+0.4% (YTD: +3.8%)
USD (CBE)	Buy 50.62	Sell 50.75
USD (CIB)	Buy 50.62	Sell 50.72
Interest rates (CBE)	27.25% deposit	28.25% lending
Tadawul	11,899	-0.3% (YTD: -1.1%)
ADX	9,557	-0.4% (YTD: +1.5%)
DFM	5,313	-0.8% (YTD: +3.0%)
S&P 500	5,843	+1.1% (YTD: -0.7%)
FTSE 100	8,756	0.0% (YTD: +7.1%)
Euro Stoxx 50	5,489	+2.0% (YTD: +12.1%)
Brent crude	USD 69.39	-2.3%
Natural gas (Nymex)	USD 4.47	+2.9%
Gold	USD 2,926	+0.2%
BTC	USD 90,217	-3.1% (YTD: -3.5%)

THE CLOSING BELL-

The EGX30 rose 0.4% at yesterday’s close on turnover of EGP 2.9 bn (17.9% below the 90-day average). Regional investors were the sole net buyers. The index is up 3.8% YTD.

In the green: Orascom Development Egypt (+2.6%), Eastern Company (+2.2%), and CIB (+1.6%).

In the red: Emaar Misr (-2.3%), Fawry (-2.1%), and Sidpec (-1.9%).

CORPORATE ACTIONS-

#1- Dairy maker Domty’s board approved a dividend payout proposal of EGP 0.85 per share, which will now be sent to the ordinary general assembly for approval, the company said in an EGX disclosure (pdf).

#2- Shareholders of Arab Developers Holding will be able to subscribe to the rights issue of 6.2 bn new shares with a nominal value of EGP 0.10 per share from 19 March to 17 April, according to a disclosure (pdf). The issuance will see the company’s capital nearly double to EGP 1.4 bn. The subscription rights will be separately tradable from 19 March to 14 April.

My Ramadan Routine: Nour Emam, co-founder and president of Daleela by Motherbeing

Nour Emam, co-founder and president of Daleela by Motherbeing: For a special Ramadan edition of our weekly My Morning Routine column that we will run through the holy month, we spoke to Nour Emam (LinkedIn), co-founder and President of Daleela by Motherbeing. We asked Emam the usual questions to find out how a successful member of the community starts their day and threw in a few more to find out how she adjusts to Ramadan and what she looks forward to in the holy month.

My name is Nour Emam — I’m the co-founder of Daleela by Motherbeing. My role as president focuses on communication, content, growth, and the overall company vision and strategy.

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

We rebranded, and we now go by Daleela by Motherbeing. Our application is called Daleela, while the holding company is still called Motherbeing. As we launched the app and worked to be inclusive of women at all stages in life, we realized the name Motherbeing comes with constraints and prejudices. People often associate it with certain things, like maternity, motherhood, and childcare, even though our vision is much broader. We chose Daleela because we wanted a person’s name that would build a sense of connection to the AI health assistant within the app, as well as a simple name that would work across the region and beyond — a name without barriers.

Our role is primarily to make healthcare accessible while serving as a companion for women, answering and guiding them throughout their health journeys. Daleela’s main objective is to make information on common women's health issues and conditions as accessible and frictionless as possible. Through the app, users can receive diagnoses for conditions such as infections and discharge and get birth control prescriptions.

The app’s AI chat feature is a big thing. We’ve answered nearly 600k questions and attracted 80k users since the app’s launch in August. The feature aims to help women of all ages get started on at least the first or two steps of their healthcare journey. There’s a clear need for instant answers to questions on reproductive, sexual, and general health.

Back in 2019, I was diagnosed with post-partum depression and anxiety after having my first child. I was diagnosed very late, around 7 months in, and through therapy I realized it’s because there was very little accessible health information that was culturally relevant to me. And because I really like teaching and being in front of people, it occurred to me that I could teach people about health for a living. That’s basically how Motherbeing was born. I started out by conducting online Zoom classes before the project expanded to on-demand programs, and then into a full-fledged app.

My morning usually starts at 7am. I start by feeding my seven-month-old daughter and making sure my elder daughter, who is six, is ready for school before her father or I drop her off. I split the next two hours between quality time with my child and answering as many emails as possible before the day actually starts. I make breakfast while standing, or as I’m rocking, feeding, or taking care of the baby. I heat my coffee at least two to three times because it gets cold before I can drink it. It’s hectic and not very glamorous, but I love it.

In Ramadan, I usually do a lot of meal prep for Iftar early in the day before work starts. My schedule gets a lot more packed during the month. School ends earlier, so my kid gets back home sooner. The workday gets crunched while my team and I try to maximize productivity, even though that inevitably dips with fasting.

One way I stay organized during Ramadan is by getting a lot of work done in the evening. After the kids are in bed, there’s a good 2-3 hours during which I go into deep-focus work that I usually can’t get done during the daytime.

I’m privileged to have a partner who’s very supportive. We split childcare equally. Some days, I work from home with the baby, and other days, he takes over while I head to the office. With two kids, working at the office feels like a marathon. You race to finish everything that you possibly can because you know you won’t be available from 4-5pm until 9-10pm.

The one constant of my day is sitting in silence for a good 20 minutes after putting my girls to bed. That’s when my work ideas jump into high gear. I get the best ideas and remember the things I need to do so I can finish up. It’s a really important 20 minutes.

In the next six weeks, we’re also going to be launching the period tracker. I’m quite excited about this because it will offer users a novel way of period tracking. It’s AI-driven — your Daleela chat is at the heart of it — so she knows your history from previous chats and she’s able to see the symptoms you’re inputting and flag things that don’t seem right. When you're consulting with a doctor through the app's medical diagnostic feature, she’s able to pull information about your cycle to show the doctor. It’s really holistic in terms of how the features communicate with one another — which really sets Daleela apart from other women’s health and fertility trackers.

A podcast I’d recommend is Spotify’s Science Vs. It’s super cool. Every episode asks a specific question and answers it through a scientific lens. For example, one memorable episode explored why heartbreak physically hurts, interviewing scientists and doctors. We also launched our podcast Bedoon Ehrag recently.

There is a book called The Fifth Vital Sign by Lisa Hendrickson-Jack that I’d highly recommend to female readers. It shows how your menstrual cycle is an indicator of overall health, so basically your fifth vital sign. A disruption in your cycle is an alarm that your body sends.

The best advice I’ve been given is that the only constant in life is change. Things get difficult but nothing stays bad forever. It’s going to get better; just keep going.

If there’s one piece of advice I'd give to younger girls, it’s that you can build something of value if you remain consistent and have a meaningful “why” driving you forward. Here I am, doing this interview with EnterpriseAM about Daleela, the first all-in-one women's health platform powered by AI, and we’re discussing sexual and reproductive health for Arab women — it all feels like a dream. Five to seven years ago, this would have seemed like a crazy notion, but it has come to fruition because we remained anchored to our core “why” regardless of the pivots we had to make.

CALENDAR

MARCH

1-10 March (Saturday-Monday): Egypt will open electronic applications for 2.2k industrial land plots across 22 governorates

10 March (Monday): Capmas expected to release inflation data for February.

10 March (Monday): The IMF’s Executive Board will meet to discuss Egypt.

Arla Foods’ deadline for Domty acquisition offer.

Operation of phase one of the Amotope wind farm.

Alwaad Investment to inaugurate a new cold beverage plant with an annual production capacity of 14.5 mn units.

Al Ahly Sabbour to finalize preparations for its EGX listing, offering 20-25% of its shares, with an advisor to be tapped in early 2025.

March-April 2025: The government plans to start collecting taxes on capital gains from EGX transactions.

APRIL

7-9 April (Monday-Wednesday): Narrative PR Summit launches 9th edition, Red Sea

7-10 April (Monday-Thursday): EFG Hermes One on One conference, Dubai, UAE

10 April (Thursday): Capmas expected to release inflation data for March.

17 April (Thursday): Monetary Policy Committee’s second meeting.

28-30 April (Monday-Wednesday): FDC Regional Digital Industry Summit will launch cybersecurity index.

Business-to-business forum of Egyptian and Moroccan companies to promote bilateral trade, Cairo, Egypt.

The Suez Canal Container Terminal will begin trial operations for its expanded East Port Said facilities.

Government begins talks with EU on the second tranche of the of the EUR 5 bn concessional loans package

Saxony Delegation visit to Egypt.

Egypt to launch trial operations of the first phase of its USD 1.8 bn Egypt-Saudi electricity interconnection project, ahead of schedule

Tahya Misr 1 container terminal to begin operations, adding 3.5 mn container capacity to the port.

MAY

10 May (Saturday): Capmas expected to publish inflation data for April.

1 May-10 July (Thursday-Tuesday): 500 Global's Scale Up Program, Cairo

18-20 May (Sunday-Tuesday): First Arab International Exhibition for Sustainable Development.

22 May (Thursday): Monetary Policy Committee’s third meeting.

Egyptian Exporters Association (Expolink) exhibition, Italy

French rolling stock manufacturer Alstom will submit technical and financial bids for Cairo Metro Line 6

JUNE

10 June (Tuesday): Capmas expected to publish inflation data for May.

June 2025: MPs approveextension of tax dispute resolution window until 30 June 2025, with potential for further extension

June 2025: Nissan and Honda finalise talks about possible merger to create the world’s third largest automobile company by sales.

June 2025: Coficab to complete its USD 88 mn automotive cable and electrical factory in Tenth of Ramadan City

JULY

10 July 2025 (Thursday): Monetary Policy Committee’s fourth meeting.

15-16 July 2025 (Tuesday-Wednesday): Egypt Mining Forum.

July 2025: The first operational trail of Egypt-KSA electricity interconnection line.

July 2025: Etihad Airways to launch twice-weekly flights to Alamein

July 2025: Israel to begin increasing gas exports to Egypt from Chevron’s offshore Tamar field

AUGUST

28 August 2025 (Thursday): Monetary Policy Committee’s fifth meeting.

August 2025: Tourism Development Authority to waive late payment penalties for land purchases if full installments are paid

SEPTEMBER

September 2025: Egypt Education Platform (EEP) to launch two new schools in Alexandria and Somabay

September 2025: Egypt Otsuka’s nutritional products factory in Tenth of Ramadan to begin operations, with exports to Gulf countries expected by January 2026

OCTOBER

2 October 2025 (Thursday): Monetary Policy Committee’s sixth meeting.

NOVEMBER

20 November 2025 (Thursday): Monetary Policy Committee’s seventh meeting.

DECEMBER

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

25 December: (Thursday): Monetary Policy Committee’s eighth meeting.

December: Taqa Arabia and Voltalia to complete studies for repowering the 545-MW Zafarana wind farm with 1.1 GW of wind and 2.1 GW of solar power

EVENTS WITH NO SET DATE

Early 2025: ADQ to break ground on the development of Ras El Hekma

Early 2025: Al Ismaelia to begin working on two new hotels and hotel apartments in Downtown Cairo.

Early 2025: The Communications Ministry will unveil the second edition of its national AI strategy in early 2025

Early 2025: The Suez Canal Authority to launch an IPO for the Canal Company for Mooring and Lights (CCML) on the EGX.

Early 2025: Orange Egypt to launch 5G services, with EGP 10 bn planned for network upgrades.

Early 2025: BP to begin drilling at the King Mariout Offshore concession.

Early 2025: Jinbei Royal Egypt to begin local assembly of 3k Jinbei vehicles, including the country’s first electric cargo van and microbus

1Q 2025: The Egyptian-Italian business forum

1Q 2025: Investment Minister Hassan El Khatib to visit Italy

1Q 2025: Eipico’s biopharma plant to begin operations

1Q 2025: Finance Ministry to launch public consultations on its tax policy document

1Q 2025: Egypt to sign trade agreements with Bahrain and UAE to slash customs clearance times

1Q 2025: Government to launch EUR 271 mn green industry program to cut emissions

1Q 2025: Egypt-Azerbaijan joint committee to meet to bolster trade and investment ties

1Q 2025: Turkish Automotive Manufacturers Association and Turkish Contractors Association to visit Egypt following an invitation from the Investment Minister

1Q 2025: One of four companies, including Abu Qir Fertilizers, Mopco, Egyptian Petrochemicals Holding Company, and a Saudi-affiliated firm, to be selected for the USD 450 mn redevelopment of Delta Fertilizers

1Q 2025: GV Auto to begin local production of FAW Group’s cheapest EV model.

1Q 2025: Alkan Auto to launch BAIC subsidiary Arcfox’s EVs to the market.

1Q 2025: Dynamic Distribution to launch a new competitively-priced Fiat model in Egypt.

1Q 2025: BP to drill two USD 160 mn exploratory gas wells in the West Delta.

1Q 2025: Port Said for Engineering Works to begin construction on a USD 80 mn aluminum foil factory in the SCZone, targeting initial production of 60k tons annually.

1Q 2025: Pearl Polyurethane Systems to start production at its EGP 100 mn polyurethane factory in the Sokhna Industrial Zone.

1Q 2025: Sumitomo Electric to officially open its EUR 22 mn cable factory in Tenth of Ramadan, with production set to begin next month.

1Q 2025: Construction of the USD 600 mn natural gas treatment plant in the Western Desert’s Meleiha concession to wrap up, followed by a pilot run.

1Q 2025: El Araby Group and Sharp to break ground on a USD 50 mn fridge and freezer manufacturing plant in the Quweisna zone.

1Q 2025: Hangzhou Henneway Travel Goods to begin production at its USD 50 mn factory in the West Qantara Industrial Zone

1Q 2025: BP to drill two USD 160 mn exploratory gas wells in the West Delta

Mid-2025: EGX launches sustainability index.

2Q 2025: Financial Regulatory Authority (FRA) to introduce derivatives on the EGX

2Q 2025: Safaga Terminal 2 to start operations

2Q 2025: Hassan Allam to build infrastructure for AD Ports' Noatum terminal at Safaga

2Q 2025: EgyptSat Auto to start production at its EV factory in Tenth of Ramadan City

1H 2025: EGX launches a sharia-compliant sustainability index.

1H 2025: Digital Financial Identity Company will launch an electronic bank account opening service

1H 2025: The Egyptian-US Investment Forum.

1H 2025: The Egyptian Mineral Resources Authority will relaunch a global tender for gold exploration through Shalateen Mineral Resources company.

1H 2025: Internal Trade Development Authority (ITDA) to establishfour logistics zones with EGP 18-20 bn investments

1H 2025: Natco to launch Chinese firm Neta Auto’s EV models.

1H 2025: OCI Global to complete the sale of its entire methanol business to Methanex for USD 2.05 bn.

1H 2025: Egypt and the UAE to begin construction of a USD 3 bn petroleum logistics zone at Al Hamra Port

1H 2025: HoldiPharma to list 25-30% stakes in Misr Pharma and Chemical Industries Development (CID) on the EGX

1H 2025: Korra Energi to list up to 20% stake on the EGX

1H 2025: Smart Villages Development and Management Company plans to list 30-35% of its shares on the EGX

1H 2025: Halliburton to bring three gas wells online as part of the Burullus project.

1H 2025: Chevron to begin gas production from the offshore Nargis gas field, initially producing 600 mn cf.

1H 2025: Nile Recycling to launch USD 20 mn PET recycling facility in Ain Sokhna, targeting an annual capacity of 22k tons and reducing carbon emissions by 40k tons

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

3Q 2025: AMEA Power to bring 500 MW Amunet wind farm online in Ras Ghareb

4Q 2025: Abou Ghaly Motors to introduce the Subaru Solterra to the market

4Q 2025: Two new projects in food manufacturing and home textiles to begin operations in the Qantara West Industrial Zone

2H 2025: National Printing Company to make its EGX debut after delayed IPO plans

2H 2025: Tabarak Holding to list 30% of its shares on the EGX

2H 2025: Turkish apparel company Denim Rise to open a garment manufacturing facility

2H 2024: Hi-Tech Apparel to break ground on a USD 20 mn sportswear factory in the SCZone

2H 2025: Eni to drill two new wells in the Zohr field with USD 160 mn in investments

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

Mid-2025: SN Automotive to launch three locally assembled models — one electric and two gasoline-powered — in Egypt

Mid-2025: Suez’s USD 1.8 bn coal and diesel production complex, developed by Enppi and Petrojet, to be completed

Mid-2025: Wataneya and Safi to debut on the EGX

End of 2025: The Egypt Digital Industrial Platform will expand to include additional services for manufacturers, including the issuance of licenses, building permits, and industrial records

End of 2025: An unnamed Chinese company and the state-owned Arab Organization for Industrialization (AOI) to begin production at a USD 360 mn tire factory in the SCZone.

End of 2025: A consortium including Redcon Properties and Al Baraka Bank to launch a local real estate investment fund with over EGP 1 bn in initial investments

Late 2025: Baron Hotels to open a new hotel in Sharm El Sheikh and debut its first international property in Zanzibar with 150 luxury suites

2025: The InterAcademy Partnership assembly

2025: Nile Basin States Summit, Cairo, Egypt

2025: Release of the government’s Startup Charter document

2025: Nafeza to integrate air cargo into its digital customs platform, further streamlining trade logistics

2025: Africa50 completes 42.9% stake acquisition in Raya Data Centers for USD 15 mn to fund construction of a USD 35 mn Tier III data center.

2025: MM Group for Industry and International Trade is set to launch 16 new Tata vehicle models locally.

2025: China to issue USD 411 bn in special treasury bonds

2025: El Attal Holding to list 30-35% of its shares on the EGX

2025: The Administrative Capital for Urban Development (ACUD) to launch its EGX debut, offering 5-10% of its shares.**

2025: Basata Holding for Financial Investments to offer 25% stake on the EGX as part of a plan to double its capital to EGP 1.4 bn.**

2025: Hilton Cairo Nile Maadi to open early in the year, alongside debuts of Tapestry Collection and Curio Collection by Hilton.

2025: Palm Hills and Marriott to launch The Ritz-Carlton Residences in West Cairo, featuring 150 branded units across 45 acres

2025: Jaz Hotel Group to set up two new hotels in North Coast, two in Hurghada, and two in Marsa Alam

2025: Sunrise Resorts & Cruises to add 4k hotel rooms to its hotels capacity.

2025: Egyptian Petrochemicals Holding Company (ECHEM) to complete studies and kick off production of Egypt’s first sustainable aviation fuels (SAFs).

2025: Polaris Parks to begin development of the industrial park in New October City

2025: EgyptAlum to launch a USD 100 mn foil production line with a 50k-ton annual capacity

2025: Honor to begin operations at its proposed smartphone manufacturing facility in Egypt, with an initial investment of USD 10 mn

2025: Indorama and Phosphate Misr to begin implementation of the USD 400-500 mn phosphate fertilizers plant in Ain Sokhna

FY 2025-26: Egypt to issue its first EGP-denominated sovereign sukuk to finance public investments outside the general budget

FY 2025-26: The government to begin introducing cash-based subsidies on a trial basis in select areas of the country

2025-2027: EUR 4 bn in concessional loans to follow as part of a EUR 7.4 bn package

2026

Baron Hotels to launch two hotels in Egypt with 950 rooms, followed by another with 750 rooms.

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

2027

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

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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