Big-ticket Gulf investments coming our way

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What We're Tracking Today

Vessels are slowly making their way back to the Suez Canal

Good morning, friends. We are wrapping up the first work week of November with another busy issue.

Big-ticket Gulf investments are the theme this morning with two > USD 1 bn investments coming to light over the past hours — Qatar’s Diar will invest USD c. 30 bn to develop a residential-touristic project in the North Coast and Saudi Dallah Albaraka has partnered with Emaar Misr to set up a USD 1.7 bn New Cairo project.

It’s not just the Gulf that has a big appetite for Egypt, we’ve also been seeing an increasing number of Chinese companies inking agreements to set up shop here or express interest in doing so, which made HSBC Egypt’s China Co rridor Forum (pdf) more timely than ever. The forum brought together business leaders, policymakers, and financial exports to discuss ways to expand trade and investment flows between the two sides.

What went down? “The China-Egypt corridor continues to accelerate and gain momentum; we are seeing clients from both markets forming partnerships across sectors, reflecting the two countries’ shared commitment to deepening economic collaboration,” HSBC Egypt CEO Todd Wilcox said.

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PSA-

WEATHER- It’s a pretty cool day in Cairo, with a high of 28°C and a low of 19°C, according to our favorite weather app.

It’s even cooler in Alexandria, with a high of 26°C and a low of 18°C.

WATCH THIS SPACE-

#1- A total of 229 ships “returned” to the Suez Canal in October — marking the highest monthly rate of traffic since ships began diverting away from the strait in late 2023, according to a statement from the Suez Canal Authority. The canal recorded a 1.7% y-o-y rise in vessels passing to 4.4k ships — with a total of 185 mn tons — between July and October 2025.

Efforts are underway to increase that figure: Suez Canal Authority head Osama Rabie met with representatives from 20 shipping lines and agencies — including CMA CGM, Clarkson Company, Maersk, Hapag Lloyd, MSC and LBH — to discuss timelines for increasing traffic through the canal. He also called on them to carry out “trial voyages” through the canal.

CMA CGM’s already braving the route: The CMA CGM Benjamin Franklin — a vessel with roughly 18k TEU capacity — is seemingly bound for the Suez Canal, which would make it the largest containership to traverse the Red Sea waterway since early 2024. Large containerships have been slow to return to crossing the Bab El Mandab strait following targeted attacks by Yemen’s Houthis, with only 13 transits by six vessels with capacities between 15k TEU and 16k TEU crossing the strait in 9M 2025 — all operated by CMA CGM on Asia–Mediterranean routes.

REMEMBER- Suez Canal transit is projected to pick up in early 2026 — driven by the easing of regional tensions and a positive regional growth forecast from the IMF, Secretary General of the Cairo Chamber of Commerce’s International Transport and Logistics Division Amr Al Samdoni told EnterpriseAM last month. Shipping lines have been encouraged by the Israel-Hamas ceasefire agreement and are currently “developing quarterly plans” on the premise that the war and Houthi attacks cease completely, he added.

#2- Tax policy coming in March: The Finance Ministry aims to launch its medium-term tax strategy by March, Al Borsa reports, citing Finance Minister Ahmed Kouchouk. The ministry has been reviewing the tax policy document, which sets out guiding principles for modernizing the tax system, ahead of putting up for public consultation in 4Q 2025, a government source told EnterpriseAM in August.

Want a sneak peek into the policy? We dive into what we can expect from the long-awaited tax policy in a story published earlier this year — check it out here.

#3- The Central Bank of Egypt has instructed banks to maintain the original 3% and 8% interest rates on subsidized mortgage loans for applicants who had already reserved units under the government’s Housing for All Egyptians initiatives, according to a statement (pdf).

REMEMBER- The lender raised the interest rates offered under its two subsidized mortgage finance initiatives to 8% for low-income and 12% for middle-income borrowers last month, as part of a broader policy shift to align state-backed housing finance with current economic conditions.

Our coverage of the EnterpriseAM Egypt Forum 2025 continues. This year's forum was packed with actionable intelligence on the future of Egyptian business. To make sure you don't miss a thing, we launched the EnterpriseAM Forum Playback.

Every Thursday at 10am, you'll receive a special newsletter breaking down one key session — from the future of work to getting capital markets off life support. We’ll also drop a companion podcast in our EnterpriseAM Egypt feed so you can listen on the go.

Want more? We're soft launching our YouTube channel where we've dropped video highlights.

HAPPENING TODAY-

Egypt at COP30 Leaders Summit: Local Development Minister and acting Environment Minister Manal Awad is in Brazil for the COP30 Leaders Summit, which runs from 6-7 November, according to a statement. Awad will join heads of state, ministers, and global climate officials to discuss implementation, financing, and adaptation, and hold bilateral meetings with international partners.

HAPPENING THIS WEEKEND-

#1- The RiseUp PropTech Summit will kick off tomorrow at the Cairo Business Park under this year’s theme of From Spaces to Solutions, according to a statement (pdf) from the organizers. The summit is expecting 3k attendees to take part in the event to hear from the 60 speakers scheduled to take to the stage throughout the day.

#2- The TechUp Women Summit returns once again on Saturday at the Greek Campus in Downtown. The event will bring together 3k women in tech to listen to more than 150 speakers and meet with representatives from over 80 tech companies from across Egypt, the region, and the globe.

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THE BIG STORY ABROAD-

A battle in the courts over Trump tariffs is making the headlines this morning. Arguments in front of the US Supreme Court yesterday indicated a ruling that could represent a huge blow to Trump’s economic and foreign policy. A number of conservative judges joined liberals in questioning the legality of blanket tariffs — announced by Trump back in April at his “Liberation Day” event — as an overreach of executive power. (Washington Post | Reuters | Associated Press)

The challenges come at a fraught time for Republicans: Trump lashed out at Senate Republicans asking them to use a maneuver to end the longest-ever government shutdown. The 36-day spill is weighing down on the economy., forcing the government to cut flights at airports, and harming the party at high-profile elections, evident in local victories in New York, Virginia, New Jersey and elsewhere that set the stage for huge Republican losses at midterm elections a year from now.

Qatar to invest USD 29.7 bn in North Coast project

Qatar will invest USD 29.7 bn — not a typo — to develop its much anticipated North Coast project through an agreement between the Qatar Investment Authority-owned Qatari Diar and New Urban Communities Authority (NUCA), a government source told EnterpriseAM. The project along the Mediterranean in the Alam El Roum area will reportedly include upscale residential areas, marinas, touristic amenities, and even schools, universities, and government buildings.

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

Diar will pay USD 3.5 bn for the land and contribute USD 26.2 bn in in-kind investments to develop the project. The project is part of a wider USD 7.5 bn direct investment package from the Gulf nation, which also includes a USD 3.5 bn direct investment into a Red Sea project between Diar and Marriott-owned hospitality chain St. Regis.

Good news for the state coffers is also good news for our upcoming reviews with the IMF, as the lack of continued sizable foreign direct investments has been brought up by the Fund as a sticking point preventing it from greenlighting the fifth and sixth reviews of the country’s USD 8 bn loan program. The whole USD 3.5 bn will be sent to the central bank in the coming days and NUCA will receive 15% of the revenues from the project moving forward.

The government is preparing for the big reveal today, when the media assembles for the official signing and announcement of the project.

The government will handle the settlement of land ownership issues in the Alam El Roum area by compensating landowners or offering them alternative plots, the source told us. It will also be responsible for providing utilities and extending roads to support the large-scale investment in the area. The project’s goal is to boost tourism and create a year-round destination similar to the UAE’s Ras El Hekma.

The project would mark the largest Qatari investment in Egypt since the two sides restored diplomatic ties in 2021..

More Gulf investments coming our way: Saudi Arabia is planning to convert some of its USD 10.3 bn in deposits into investments. Kuwait is also in discussions to convert the USD 4 bn of deposits it holds in Egypt’s central bank into direct investments across several sectors.

REMEMBER- Egypt is working towards attracting USD 42 bn in net FDI this fiscal year, with plans to increase that figure to USD 55 bn in FY 2028-2029. Meanwhile, the country’s net FDI fell to USD 12.2 bn in the last fiscal year from USD 46.1 bn a year earlier, when inflows were inflated by the Ras El Hekma agreement.

Emaar Misr, KSA’s Dallah Albaraka to develop EGP 78 bn New Cairo project

Emaar Properties Egyptian arm Emaar Misr is preparing to launch yet another big ticket development, this time with Saudi Arabia’s Dallah Albaraka under a strategic partnership, according to a disclosure (pdf) from the EGX30-listed company. The project with Dallah Albaraka’s Samla and Alam Al Roum for Urban Development will require EGP 78 bn — equivalent to around USD 1.7 bn at the current exchange rate — in investments and is expected to bring in returns totaling EGP 117 bn.

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

The 380-feddan project will be in New Cairo’s Kayameya district. Details are still few and far between, but they say the development will feature residential, administrative, and commercial components.

“We are proud of this new strategic partnership with Dallah Albaraka Group, which extends our firm commitment to supporting Egypt’s real estate sector and contributing to the country’s unprecedented urban renaissance. Egypt’s property market is full of promising potential, and we believe in the importance of delivering projects that uphold the highest quality standards and place customer comfort first,” Emaar Properties founder Mohamed Alabbar said in a separate statement (pdf) from the company.

This isn’t even Emaar Misr’s biggest development in the works, with the developer working on a EGP 900 bn integrated tourism complex alongside Saudi-owned Citystars Properties called Marassi Red Sea. The USD 19.0 bn project will feature 12 hotels, thousands of residential units, a world-class marina, and a range of leisure and community facilities. Earlier in the year, Emaar also partnered with Midar for Investment and Urban Development to launch New Mivida in New Cairo, an EGP 100 bn residential project that includes nearly 2.9k homes, a school, and a sports club.

DATA POINT- Emaar’s investment in Egypt now total EGP 1.9 tn, while its land bank currently stretches some 34.6 mn square meters. The company is now in the process of doubling these figures over the coming years, according to Alabbar.

IN OTHER REAL ESTATE NEWS-

#1- ÈLM Developments has signed an EGP 3.5 bn agreement with Consolidated Contractors Company Egypt (CCC Egypt) to develop its ELM Tree project in SIxth of October, the company said in a statement (pdf). CCC Egypt will serve as the main contractor responsible for delivering the full scope of works for the project. The 58 acre development will allocate more than 80% of its area to green and open spaces and will feature low density residential units, a 26-acre commercial and administrative zone, and a social club with sports and recreational facilities.

#2- Real estate developer Madinet Masr recorded EGP 36.3 bn in new sales during the first nine months of 2025, according to a disclosure (pdf) to the EGX. The developer saw its unit deliveries jump 112% y-o-y and over EGP 2 bn-worth of reservations during the period. The figures highlight “substantial demand” following the launch of several new projects and partnerships in the nine-months period.

Arcius Energy takes over Harmattan gas field

Arcius Energy finalized an agreement to acquire the Harmattan gas and condensate field in the Eastern Mediterranean from Shell and BP under a concession transfer signed with Egas, securing full rights to the El Burg offshore block, according to an Oil Ministry statement. The Adnoc and BP joint venture will take over all obligations and development rights for the field. The transaction value was not disclosed.

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

The development plan includes drilling up to three wells, installing a fixed offshore platform, and building a 50 km pipeline to onshore processing facilities near Port Said, according to a press release (pdf). First gas from Harmattan is expected in 2028.

BACKGROUND- Last December, BP and Shell signed an agreement with Egas to begin production at Harmattan by 1Q 2026, with initial investments estimated at USD 370 mn. It’s expected to produce 125 mn cubic feet of gas every day.

REMEMBER- BP and Adnoc set up Arcius Energy with the aim of expanding natural gas operations in Egypt, with BP holding a 51% stake and Adnoc’s investment arm XRG owning 49%.

ALSO- Egas signed a seismic survey agreement with an SLB-Viridien consortium to run seismic surveys across 95k sq km in the Eastern Med, according to a statement. The EGPC also extended its Egypt Upstream Gateway contract with SLB for three years, committing USD 44 mn in upgrades to the digital licensing and data platform, the statement said.

Pure Dive secures NBE, CIB financing for Egypt’s first chlorine tablet factory

CIB and the National Bank of Egypt signed a financing agreement with Pure Dive to establish the first factory for chlorine tablets and granules in Egypt, Africa, and the Middle East, according to a statement from the Public Enterprises Ministry. The USD 39 mn project will be built at Misr Chemical Industries, supported by USD 21.8 mn and EGP 255 mn from the two banks, which will cover 70.6% of the investment cost.

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

The project has a targeted annual production capacity of 10k tons of trichloroisocyanuric acid chlorine tablets and granules and 10k tons of cyanuric acid, which are used in pool sanitation, water treatment, and industrial applications for paper and textile processing. It will also produce 18k tons of anhydrous ammonium sulfate fertilizer, supporting national agricultural output. China’s Capchem is serving as the project’s general contractor, with ECG providing engineering consultancy.

We first heard about the project in 2023, when Egyptian Chemical Industries (Kima) and the Chemical Industries Holding Company agreed with Cadence Energy and Engineering and Project Development to set up Pure Dive — a holding company established to construct, manage, and operate the factory for chlorine pellets.

ALSO- China’s Xinmin Glass will build a USD 70 mn glassware factory in the ElSewedy Industrial Development’s Sokhna 360 industrial city, according to a statement from the Suez Canal Economic Zone. The factory will begin with a USD 30 mn phase and create 1k direct jobs.

PLUS- Blanket manufacturer Misr Spain Company for Blankets & Textiles plans to invest EGP 1 bn in 2026 to boost production capacity by up to 40%, CEO Amr El Tabbakh told Al Borsa. The company aims to grow its local market presence and increase its exports, with plans to export half of its annual output.

Infinity Power, Hassan Allam Utilities ink complementary agreements for solar projects

More renewable energy coming to the country’s energy mix: The Electricity Ministry and the Egyptian Electricity Transmission Company (EETC) signed complementary agreements with Infinity Power and Hassan Allam Utilities Energy Platform — an investment vehicle set up by Hassan Allam Utilities and co-owned by the EBRD and Meridiam — for two solar power plants with a combined capacity of 1.2 GW and 720 MWh of battery storage, according to a press release (pdf) from the two private players and a statement from the Electricity Ministry.

(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: Under the agreements, the consortium will develop a 1 GW solar plant in Minya with 600 MWh of storage expected to go online in 3Q 2027 and a 200 MW solar plant in Benban with 120 MWh of connected battery storage, scheduled to kick off commercial operation in 3Q 2026.

Project background: The projects build on a landmark agreement first signed in November 2024 between Masdar, Hassan Allam Utilities, and Infinity Power and EETC to develop the two projects, albeit with slightly different specs than those announced in the final agreements.

What they said: “These projects reaffirm Infinity Power’s commitment to driving Egypt’s clean energy transformation and expanding access to sustainable power solutions across Africa,” said Ahmed Mulla, Deputy CEO of Infinity Power.

REMEMBER- The government wants to increase renewables’ contribution to the energy mix to 18.6% by FY 2026-27, 42% by 2030, and 65% by 2040.

Preparing for more renewable capacity: Electricity Minister Mahmoud Esmat said Egypt is working to build a stronger and more flexible grid capable of absorbing larger renewable capacity and ensuring stable power supply nationwide. The government is introducing battery storage technology to enhance grid reliability.

Egypt’s financial stability index rises to 0.48 in 1Q 2025 -CBE

The country’s financial stability index rose to 0.48 in 1Q 2025 from 0.38 a year earlier, supported by a stronger banking sector, more resilient capital markets, and an improved global economic environment, according to the Central Bank of Egypt’s latest financial stability report (pdf).

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

CBE unveils its macroprudential policy framework for the first time: The report also introduced the bank’s new macroprudential policy framework — a first for Egypt — aimed at preserving financial stability, raising awareness among consumers and financial institutions, and strengthening policy coordination across agencies.

FX liquidity improves as inflows pick up: The banking system maintained access to FX liquidity during the quarter thanks to higher non-oil exports, remittances, tourism revenues, and long-term foreign investments, according to the report. These inflows helped reduce systemic risk linked to sudden foreign capital outflows.

Lending increases, led by six key sectors: Total credit facilities extended to the top 100 corporate clients rose 27.7% y-o-y to EGP 1.4 tn as of end-March, with six industries accounting for 74% of total lending — non-bank financial services, real estate, construction, steel, oil and gas, petrochemicals, and telecoms. Meanwhile, total customer loans climbed to EGP 9.1 tn by March, with local currency lending making up the lion’s share.

Banking sector gains ease slightly: Net banking income fell 2.2% y-o-y in 1Q 2025 amid rising operating costs and higher deposit expenses, according to the report. Banking sector assets rose to EGP 22.7 tn at the end of March 2025 from EGP 20.4 tn in June 2024.

Corporate borrowers dominate loan portfolios: Institutional borrowers accounted for 81.6% of total loans in March, up from 78.7% a year earlier. Meanwhile, SME lending slipped to 5.6% of the total, and consumer loans edged down to 12.8%.

Banking sector investment in government debt instruments accounted for 28.4% of total assets, 0.2 percentage points above March 2024 levels.

Somabay launches Sea Beyond Sight initiative

Our friends at Somabay have launched the Sea Beyond Sight - Vision for All initiative aimed at supporting individuals with vision impairments in the Red Sea region, in partnership with the health and social solidarity ministries, as well as Dialogue in the Dark Egypt and local NGOs, according to a pr ess release (pdf). The two-month program provides free checkups, treatments, surgeries, eyeglasses, mobility training, awareness workshops and other services for over 1.2k participants from Safaga and nearby areas in the Red Sea.

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

Fresh climate financing coming Egypt’s way

DEVELOPMENT FINANCE-

Novastar Ventures’ Africa People and Planet Fund III will channel some USD 50 mn into Egyptian climate tech companies, according to an Environment Ministry statement. The USD 200 mn program that will also focus on four other countries is looking to fund companies that enhance climate resilience, reduce emissions, and improve natural resource management.

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

RENEWABLES-

EPointZero and Elsewedy Electric signed a partnership agreement to develop up to 300 MW of solar power in Zambia, according to a statement. No further details were disclosed for the project.

DEBT WATCH-

Mashareq secures EGP 1 bn loan: Pioneers Properties for Urban Development’s Mashareq Real Estate Investment secured an EGP 1 bn syndicated loan led by the National Bank of Egypt (NBE) to finance the first phase of its commercial and administrative project Zag East in New Cairo, the company said in a statement (pdf).

The details: The Industrial Development Bank and Abu Dhabi Commercial Bank each contributed EGP 300 mn to the loan. The eight-year facility includes a 30-month availability period and a 36-month grace period.

CABINET WATCH-

In its latest bid to boost tourism, the cabinet will extend its exemption of aviation fees for a year until December 2026. The measure aims to encourage airlines to expand routes to Egypt’s key tourist airports and increase international arrivals.

The decentralized finance market faces mounting cyber threats

The USD 150 bn decentralized finance (DeFi) market is facing a mounting security crisis as hackers increasingly target vulnerabilities in blockchain-based platforms, Chainalysis CEO Jonathan Levin told the Financial Times. The head of the world’s largest crypto-tracing firm warned that security “hasn’t really been considered” by the startups driving DeFi’s explosive growth — leaving bns of USD in digital assets exposed to attacks.

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

DeFi platforms are prioritizing growth over safety, with the industry mostly made up of small, fast-moving teams without professional oversight or experienced security officers, leaving them open to exploitation, according to Levin. These platforms, which let users lend, borrow, and trade crypto without intermediaries, have become multi-bn USD ventures backed by major investors. But despite their growing scale, they remain highly exposed to attacks due to their reliance on complex smart contracts and decentralized governance.

Security breaches have intensified this year. Earlier this week, hackers drained over USD 100 mn from DeFi protocol Balancer, while another USD 200 mn was stolen from the Cetus Protocol earlier in 2025. Chainalysis data shows that crypto thefts hit a record USD 2.2 bn in the first half of the year — already exceeding all of 2024 — with North Korean-linked groups responsible for the largest-ever heist, a USD 1.5 bn theft from exchange Bybit.

The growing frequency of attacks underscores how DeFi’s expansion has created easy targets for cybercriminals. Levin warned that major decentralized protocols could face increasing threats from state-sponsored actors if security continues to be overlooked. Levin said the company’s focus remains on tackling DeFi’s structural vulnerabilities, stressing that the risks embedded in onchain systems and smart contracts must be addressed before the next major breach hits.

MARKETS THIS MORNING-

Asian markets are in the green in early trading this morning with strong earnings drawing investors back after elevated valuations left them spooked. The Hang Seng is leading gains, up 1.3%, with Japan’s Nikkei trailing behind. The Shanghai Composite and Kospi are also in the green.

EGX30	39,132	+0.2% (YTD: +31.6%)
USD (CBE)	Buy 47.34	Sell 47.48
USD (CIB)	Buy 47.36	Sell 47.46
Interest rates (CBE)	21.00% deposit	22.00% lending
Tadawul	11,257	-1.2% (YTD: -6.5%)
ADX	10,015	-0.4% (YTD: +6.3%)
DFM	5,992	-0.3% (YTD: +16.2%)
S&P 500	6,796	+0.4% (YTD: +15.6%)
FTSE 100	9,777	+0.6% (YTD: +19.6%)
Euro Stoxx 50	5,669	+0.2% (YTD: +15.8%)
Brent crude	USD 63.52	0.0%
Natural gas (Nymex)	USD 4.26	+0.7%
Gold	USD 3,987	-0.2%
BTC	USD 103,466	+2.9% (YTD: +10.6%)
S&P Egypt Sovereign Bond Index	957.00	+0.1% (YTD: +23.1%)
S&P MENA Bond & Sukuk Index	152.04	+0.1% (YTD: +8.7%)
VIX (Volatility Index)	18.01	-5.2% (YTD: +3.8%)

THE CLOSING BELL-

The EGX30 rose 0.2% at yesterday’s close on turnover of EGP 6.3 bn (30.7% above the 90-day average). International investors were the sole net buyers. The index is up 31.2% YTD.

In the green: TMG Holding (+5.7%), Palm Hills Developments (+1.8%), and ADIB (+1.1%).

In the red: Arabian Cement (-2.9%), Beltone Holding (-2.9%), and Abu Qir Fertilizers (-2.2%).

Kyrgyz president embarks on first ever visit by Kyrgyz leader to Egypt

Kyrgyz president in town: Kyrgyz President Sadyr Japarov landed in Cairo yesterday marking the first-ever presidential visit by a Kyrgyz leader to Egypt, according to an Ittihadiya statement. Japarov was received by President Abdel Fattah El Sisi and the held talks focused on boosting cooperation and signed two MoUs. El Sisi welcomed Kyrgyzstan’s decision to open an embassy in Cairo, calling it a “strategic step” toward strengthening ties.

That’s not all: The two nations signed a mutual visa exemption agreement during a meeting between Foreign Minister Badr Abdelatty and his Kyrgyz counterpart. The two sides also discussed deepening economic, investment, and cultural cooperation during the meeting, which also saw Abdelatty highlighting opportunities for Kyrgyz businesses in the Suez Canal Economic Zone.

My Morning Routine: Hossam Seifeldin, CEO of Capgemini Egypt

Hossam Seifeldin, CEO of Capgemini Egypt: 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 Capgemini Egypt’s CEO Hossam Seifeldin (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 Hossam Seifeldin. I can summarize myself in three words — Egypt, family, and technology. Professionally, I’ve been the CEO of Capgemini Egypt since 2022. Before that, I spent 27 years at IBM, where I served as vice president of sales, MEA, and general manager for the Gulf, Levant, and Pakistan region, starting in 2012. I’m an engineer by background, married, and have two children — Ali, 27, and Amina, 24.

I’m the CEO of Capgemini Egypt, and I was tasked with establishing the company’s first operations in Egypt. Capgemini is a global organization headquartered in Paris, with over 420k employees and around EUR 22.1 bn in annual revenue. It’s a leader in IT services and digital transformation.

My mission was to build an offshoring hub in Egypt to deliver services globally, leveraging local talent and positioning Egypt as a strong IT services destination. We launched in 2022, and my role has evolved over time. Initially, it was about setting up the organization and building a solid leadership team. Today, my focus is on growth, culture, and building sustainable capabilities. As CEO, my priorities shift depending on where we are as an organization, but culture has been a core focus since day one.

We’re an IT services company, so we connect technology to business problems and opportunities across industries. We operate in more than 50 countries and our clients come from financial services, banking, ins., retail, telecom, and manufacturing. We bring together technologies from Microsoft, AWS, Google, Oracle, IBM, SAP, and others to help clients in areas like supply chain, life sciences, automotive design, and AI integration.

Globally, Capgemini has been around since 1967, but it was relatively unknown in Egypt until a few years ago. Today, we have 1k professionals here, with engineers and specialists across multiple industries. Growing to that size in just three years is something I’m very proud of, both personally and as an Egyptian.

The most interesting trend in our industry right now is, without question, AI. Everyone wants to experiment with AI, but the real challenge is identifying meaningful use cases that solve actual business problems. That’s where Capgemini stands out. We understand both technology and industry needs. We help bridge that gap so clients can realize tangible benefits from AI and generative AI. I was recently in the US at a company event where even major tech players emphasized Capgemini’s strength in combining tech expertise with industry understanding to deliver real value.

I’m an early riser. I sleep at around 10pm and wake up between 5:30 and 6am. My day starts with coffee, checking messages, and spending some time with my labrador, Bruno. I’m very structured when it comes to time management. Every day, I plan what I want to achieve and stick to it.

I read EnterpriseAM daily, and there’s a story behind that. My son, who lives in Canada, was the one who introduced me to it about five years ago. He told me it was the best way to start my day and stay informed about what’s happening in Egypt’s business ecosystem. Since then, I’ve been a regular reader. I usually check it around 7am. It gives me great insights, solid data points, and well-articulated viewpoints that help me in my work — whether to shape arguments or support decisions.

Once I’m at work, my day is usually filled with meetings — leadership meetings on Mondays, one-on-ones, client meetings, and external engagements. I also dedicate time for learning. Sundays are my “learning days,” when I read and catch up on topics I want to explore further. One constant in my day is calling my mother. I speak to her two to three times a day, without fail.

Staying focused and organized comes down to priorities and planning. I have a management system that helps me know what information I need to see and when. Delegation is also key. I don’t micromanage, I prefer to set direction, make sure the team understands our goals, and then let them execute. When there’s alignment early on, the rest flows smoothly.

For me, personal and professional goals are closely linked. Professionally, we’re in a high-growth phase — we currently have around 1k employees and plan to reach 1.2k by year-end. Our business model of exporting IT services is vital for the economy. We bring in hard currency, create jobs, and invest in people. Our assets are human capital, which appreciates over time. I’m passionate about this industry because it allows me to give back to Egypt after years abroad.

I don’t believe in the concept of work-life balance. Not because I work nonstop, but I just think if you love what you do, work becomes part of life. You just need to give everything the right priority and time. Technology now makes it easier to work flexibly and stay connected. In the 1990s, when I started, you had to physically be in the office to get anything done, but it’s different today. I try to create a culture at Capgemini where people are happy to come to work, feel they belong, and see purpose in what they do. When that happens, work and life naturally blend.

I read when I want to unwind, mostly history books, especially Arab history or controversial topics. I also enjoy watching football and meeting friends. When I really want to switch off, it’s just me, an old-fashioned paper book, and a quiet corner.

The podcast I really enjoy is The Diary of a CEO by Steven Bartlett as it offers valuable perspectives on leadership. I believe it’s one of the best podcasts out there. I also enjoy the Business Bel Arabi and 2043 podcasts, especially since they often discuss technology, which is close to my heart. Two books that shaped my career early on are The Rules of Work by Richard Templar and Who Says Elephants Can’t Dance? by Lou Gerstner, which is about IBM’s transformation in the 1990s. They helped me understand how large organizations function, from decision-making to internal dynamics.

The best piece of advice I’ve received came from Bruno Di Leo, a senior VP in the tech industry. He told me “Treat your people the same way you want to be treated.” It’s not just about respect, it’s about everything. If you want a promotion, think about how your team can grow. If you want recognition or a raise, think about how your people are positioned. When leaders adopt that mindset, they build loyal, empowered teams, and those teams will follow them anywhere.

CALENDAR

NOVEMBER

9-11 November (Sunday-Tuesday): The sixth edition of the TransMEA 2025 forum and exhibition, Egypt International Exhibition Center.

10 November (Monday): Capmas expected to release inflation data for October.

16-19 November (Sunday-Wednesday): Cairo ICT 2025, Egypt International Exhibition Center.

16-19 November (Sunday-Wednesday): The 12th edition of the Digital Payments and Financial Inclusion Exhibition and Forum (PAFIX 2025), Egypt International Exhibition Center.

20 November (Thursday): Monetary Policy Committee meeting.

23-25 November (Sunday-Tuesday): NEBU Expo 2025 gold and jewelry exhibition, Egypt International Exhibitions Center, New Cairo.

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

November: The Conference on Early Recovery, Reconstruction, and Development in Gaza.

DECEMBER

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

4-7 December (Thursday-Sunday): Egy Stitch & Tex Expo 2025, Cairo International Conference Center.

8 December (Monday): Egypt-UK Investment Conference, Cairo.

15 December (Monday): Neo Gen PropTech and Sustainable Smart Cities Conference, The St. Regis Hotel New Capital

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

EVENTS WITH NO SET DATE

Mid-2025: EGX launches sustainability index.

December: Germany’s North Rhine-Westphala business delegation to land in Egypt.

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.

30 March - 1 April: Egypt International Energy Conference and Exhibition 2026 (EGYPES)

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.

2027: Egypt-EU Summit 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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