Relief and jubilation as Hamas, Israel agree to a ceasefire in Gaza

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WHAT WE’RE TRACKING TODAY

Fractional real estate investment framework incoming?

Good morning, friends. Business news is very much taking a backseat this morning, with unbelievably welcome news that Israel's relentless onslaught on the people of Gaza should come to an end once a permanent ceasefire is enacted on Sunday. That said, we’ve also got you covered on the local business front as we wrap up the end of the week.

PSA-

WEATHER- It’s cooling a couple of degrees in a overcast Cairo today, with a high of 21°C and a low of 13°C, according to our favorite weather app.

It’s more of the same in Alexandria, with a high of 21°C and a low of 12°C.

And over the weekend, expect to see temperatures remain at about the same point in the capital and dip a couple of degrees for our friends on the Mediterranean.

Heavy fog is once again forecast for today and tomorrow morning up and down the country, so take extra care on the roads, the Egyptian Meteorological Authority warned.

** 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- FRA mulling regulatory framework for fractional real estate investments: The Financial Regulatory Authority is currently studying a new regulatory framework that would govern fractional investments in the real estate sector, with the authority currently in talks with a number of real estate developers interested in adopting the approach, authority head Mohamed Farid told Hapi Journal.

We saw this coming: Nawy CEO Mohamed El Beltagy told us earlier this year that his company has been working with the authority on legislation to enable fractional real estate investments.

What we know: The new regulations will apply to fractional investments in all real estate holdings whether residential, commercial, or service-oriented, and will govern all players within the investment process — including the underlying asset holder, the promoter and underwriter, and the real estate appraiser.

More fractional investment assets coming? The authority plans to roll out fractional ownership regulations for other assets in the future, Farid told the outlet.

#2- Public Investment Fund arm-backed MMA outfit Professional Fighter League (PFL) is looking to hold its first event in Egypt, as the organization seeks to expand its current presence in the region outside of Saudi Arabia, Bloomberg reports, Founder and chairman Donn Davis pencilled in the league’s arrival to Om El Donia for 2026 — although talks with the government are yet to take place.

The organization is also eyeing expansion into Dubai and Qatar, with negotiations currently ongoing with the countries’ governments.

THE BIG STORY ABROAD-

One story is on every front page this morning: Israel and Hamas reached a ceasefire agreement that would pause the war on Gaza and see both sides exchange hostages starting Sunday and for six weeks. The agreement will unfold over three phases, with the first phase seeing the withdrawal of Israeli forces from populated areas of Gaza and a full ceasefire. (Reuters | AP | Bloomberg | FT | CNBC | WSJ | NYTimes)

Why now? While ceasefire negotiations have been happening on and off for over a year, the Financial Times claims that president-elect Donald Trump’s threat that there would be “hell to pay” if he took office before the release of the Israeli hostages held in Gaza “injected renewed momentum into the long-stalled talks.”

What’s next? The AP dives into what the agreement means for Israel, Hamas, and the region.

**We’ve got more on the monumental news in the issue below.

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Relief and jubilation as Hamas, Israel agree to a ceasefire in Gaza

After 15 months of a brutal war on Gaza and tens of thousands of civilians killed, a ceasefire is just days away, after Israel and Hamas agreed to an Egyptian, Qatari, and US mediated ceasefire set to come into effect on Sunday, 19 January. Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani broke the news last night, adding in his announcement that “we hope this will be the end of a dark chapter of war.”

The talks “ran into the early hours of Wednesday, with [mediators] upstairs with the Israeli negotiators, and Hamas downstairs, nailing down dozens of details,” the Financial Times writes. US and Qatari mediators will meet with their Egyptian counterparts in Cairo today for talks “on the implementation of the deal in all aspects,” the salmon-colored paper said, citing a US administration official.

Here’s what we know about the agreement’s first phase:

The six-week initial phase of the ceasefire will include a gradual Israeli troop withdrawal from central Gaza, allowing displaced Palestinians to return to northern areas, according to an official briefed on the negotiations, cited by Reuters.
Hamas has agreed to release 33 Israeli hostages, starting with female hostages, children, and men over 50, followed by male soldiers’ remains.
In exchange, Israel will release 30 Palestinian detainees for every civilian hostage and 50 detainees for every Israeli female soldier released.
Israel is expected to release between 990 and 1.65k Palestinian detainees by the end of the first phase, including all women and children under 19 detained since October 2023.
Hamas’ staggered release of hostages will occur over the six weeks, with at least three released each week and all living hostages freed before the return of remains.

This will be followed by the yet to be finalized second and third phases of the agreement: By day 16 of the ceasefire, negotiations for a second phase will begin, focusing on the release of all remaining hostages, a permanent truce, and a full Israeli withdrawal. A third phase will facilitate Gaza’s reconstruction under the supervision of Egypt, Qatar, and the UN.

Egypt is gearing up to deliver as much humanitarian aid as possible, an informed source confirmed to Al Qahera News. The agreement mandates that 600 truckloads of humanitarian aid, including 50 carrying fuel, be delivered to Gaza every day during the ceasefire, with 300 of those trucks allocated to the north, the US official told Reuters.

President Abdel Fattah El Sisi welcomed the agreement, and stressed the need to resume humanitarian aid delivery to the Gazans to relieve them from the catastrophic conditions the war left them in, according to an Ittihadiya statement.

But it's not a final agreement yet: Despite all the ceasefire agreement news covering the front pages of local and foreign press, Israeli Prime Minister Benjamin Netanyahu said in a statement that there are still some sections in the agreement that are “left open.” The Israeli head of state is expected to make an announcement once the “details of the agreement are finalised.”

Rebuilding Gaza will be a monumental challenge: The total cost of rebuilding could exceed USD 80 bn when accounting for the longer-term impacts, RAND economist Daniel Egel told Bloomberg, adding that “You can rebuild a building, but how do you rebuild the lives of a million children?” Over 70% of Gaza’s houses have been damaged, alongside schools, hospitals, and businesses, leaving behind more than 42 mn tons of debris that could take years, thousands of workers, and up to USD 700 mn to clear.

Gaza needs financial support to rebuild the city — and lives. Many countries — including Gulf countries, the EU, US and Japan — pledged to chip in many times to rebuild Gaza, but nothing is concrete yet. There are also concerns from major donors — including Qatar — about spending money on Gaza’s reconstruction during an uneasy peace.

The markets received the news well: All US stocks ended Wednesday in the green, with the three main indices logging in their biggest daily gains in over two months, which was fueled by the ceasefire agreement, but also solid core inflation data, and good earning seasons for US banks. S&P 500 was up 1.8%, the Dow Jones Industrial Average closed up 1.7%, while the tech-heavy Nasdaq Composite climbed 2.5%. Meanwhile, the small-cap Russell 2000 index closed up 2.0%.

Government bond markets in the region also responded positively: Egyptian and Jordanian government debt notched improvements after the ceasefire deal, reports Reuters, which analysts are putting down to a perceived calming of geopolitical risk.

Our talking heads dedicated most of their air time to the news last night, welcoming the agreement that followed a brutal war that left the strip in ruins. Yahduth Fi Misr's Sherif Amer (watch, runtime: 3:29 | 4:46 | 5:09) and Masa DMC's Osama Kamal (watch, runtime: 32:15) provided detailed coverage of the agreement's terms, phases, and expectations for the next stage.

“Arabs and the entire region have lived through a nightmare, watching their brothers in Gaza being slaughtered in cold blood and subjected to criminal acts unprecedented even by historical standards of occupation forces. Not even Hulegu or any other morally depraved leader has done what Israel did in Gaza,” Kamal said, stressing on the need for the ceasefire to continue until comprehensive peace is achieved.

Some, including Amer, gave some credit to Trump for the news, telling his viewers that “Netanyahu doesn't sign agreements he doesn't want to, but this [agreement] was a gift he was forced to present to the White House's new President [Trump]."

Organi Group eyes USD 1 bn in automotive, tourism investments over the next five years

Organi Group is going to increasingly focus on expanding its presence in the automotive and tourism sectors over the next five years, with CEO Essam Organi telling Asharq Business that the expansive group of companies is planning to invest USD 1 bn in the two sectors by 2030. The big-ticket investment figure will be split evenly between the two sectors, Organi added.

The tourism sector’s allotted USD 500 mn will go towards adding 20k rooms to the group’s hotel portfolio, which currently stands at 4k rooms across 11 hotels in Egypt. The company’s automotive investment plans are a little more vague, with Organi referencing a plan to up auto exports to 30k.

Organi’s comments followed the inauguration Auto Mobility's new USD 100 mn assemblyplant for Chinese automaker Geely-branded vehicles, which was attended by much of the cabinet economic team, according to a cabinet statement.

Auto Mobility? The company is a joint venture between Kuwait’s Ali Alghanim & Sons Automotive, Saudi’s Mohamed Yousuf Naghi Group, and Egypt’s Organi Group. The trio behind Auto Mobility — along with local firm Al Safi Group — teamed up in late 2022 to establish Global Auto Group, the local agent of BMW and Mini.

With the official opening of the factory, came news of two new locally-assembled models to soon hit the market, with the Chinese auto giant’s Emgrand 7 and Coolray models to be start being delivered to customers in February, Automobility Managing Director Osman Abdel Moneim announced at a press conference announcing the launch attended by EnterpriseAM yesterday.

We heard more concrete production numbers, with the factory said to start with an annual production capacity of 10k vehicles and features Egypt's first flexible dual-model production line for sedan and SUV models, Geely Auto Group Chairman Song Jin said. The plant introduces laser welding technology and other high-end manufacturing standards, with 14 major components being developed locally to reach a 45% local component ratio that is planned to increase further.

But this is just the start, especially when it comes to exports, with the company aiming to export 30k locally-assembled Geely vehicles during the current phase over an unspecified timeframe while also meeting local market demand, the Chinese group's head said one day before inaugurating the facility.

Egyptian National Railways and Italy’s Salcef partner on 25 year railway upgrade project

ENR and Italy’s Salcef partner to revamp railway infrastructure: The Egyptian National Railways (ENR) has partnered with Italian rail construction and maintenance firm Salcef Group to form a new joint venture, Salcef Track, that will oversee the development, renewal, and maintenance of Egypt's railway infrastructure over the next 25 years, according to an Industry Ministry statemen t.

We saw this coming: Back in November we heard that Salcef was mulling establishing a new company in collaboration with Egyptian Railways for Track Renewal and Maintenance Company (ERTRAC) for the renewal of some 2k km of railway tracks and the provision of railway renewal machinery and equipment.

The details: Salcef Track will begin by renovating 300 km of rail lines and 200 switches at a rate of at least 100 km of rail lines and 70 switches annually, with the company aiming to renovate 2.5k km of tracks and 1.75k switches by the end of the partnership. The company will also support the construction of new lines — including those under ENR’s purview and other Transport Ministry initiatives — and has ambitions to work on railway projects elsewhere in Africa and the Middle East.

This isn’t the only rail partnership that’s getting the government’s attention: Transport and Industry Minister Kamel El Wazir noted that the new partnership is just one of a number of similar companies the ministry is currently expanding, with others including ERTRAC and Egyfrail, alongside efforts to increase the role of the private sector.

Turkish clothing producer Katia & Bony to invest USD 50 mn in local manufacturing

Another Turkish garment factory in the works: Katia & Bony, a Turkish textile firms whose parent company Bonysocks exports to global brands like H&M and Carrefour, will be launching sock manufacturing operations in Egypt with investments of USD 50 mn, Turkish business paper Ekonomim reports. The General Authority for Investment and Freezones has reportedly said it will facilitate the company’s entry to the local market.

Turkey’s garment industry has been doubling down on Egypt as of late: This is just the latest of a string of notable investments from Turkish textile firms, with the most recent including Eroglu Holding’s USD 8.8 mn denim factory in the Qantara West Industrial Zone announced in December. Also in the pipeline are Şirikcioglu’s USD 700 mn planned denim factory in Port Said and Eroglu’s USD 51 mn garment factory in Qantara West, which just broke ground in November.

Our growing economic ties with Turkey are no accident: During President Abdel Fattah El Sisi’s historic visit to Turkey last September, the leaders of the two countries discussed their aim to boost trade relations threefold from USD 5 bn to USD 15 bn over the next five years.

The global macroeconomic landscape is also playing a role: Increased Turkish investment in Egypt also comes at a time when high inflation and a weaker currency in Turkey have seen many local companies seek to push manufacturing offshore.

Sequence Ventures to roll out Africa-focused USD 50 mn fund in 2026

Local deeptech investment firm Sequence Ventures plans to launch a USD 50 mn fund — dubbed Africa Deep Tech — to back technology startups across Africa in 2026, Managing Director Seifallah Zoghbi told Asharq Business.

Also on the company’s docket: The firm expects its first close on its EGP 500 mn Egypt Deep-Tech Fund by the end of 1Q 2025, with the fund having received commitments from local banks, financial institutions, and private companies, Zoghbi said. Launched in 2021, the fund plans to deploy capital across 20 transactions over two years.

Where’s SV pouring its money? The homegrown VC firm will invest in deep tech startups in health, education, agriculture, logistics, and climate, focusing on AI, robotics, renewable energy, and more, Zoghbi told the outlet. The company has previously indicated that all its investments in Egypt would be in companies in the pre-seed to series-A range.

ICYMI: Sequence Ventures and Logic Consulting launched iVolution, an AI consulting firm focused on helping organizations adopt tailored digital transformation strategies, in November.

Access Tomorrow with Ashraf Sabry

Learn how Ashraf Sabry, Founder & CEO of Fawry, one of the region’s largest Fintech companies, built a brand that has become a household name for millions of consumers and businesses who never had access to the financial system.

He discusses the fascinating evolution of his business, which now processes more than EGP 4 billion in transactions daily, how a hacking incident on the company’s testing environment last year made him realize the vulnerabilities that all businesses now face, the importance of investing in strong security systems, and much more.

Listen to his engaging conversation with Leila Serhan, Visa’s Senior Vice President and Group Country Manager, North Africa, Levant, and Pakistan here.

AUC teams up with the Grand Egyptian Museum to train up budding tour guides

The American University in Cairo’s School of Continuing Education (SCE) has inked a partnership with the Grand Egypt Museum to give aspiring tour guides the “essential skills needed to pursue their career as professional tour guides and learn how to represent Egypt’s rich cultural and historical heritage,” the two institutions said in a joint statement (pdf). Participants will receive a professional certificate from the program that will see them get on-site training at the museum and among its incredible collection, and have access to dedicated internships.

What they said: “By combining theoretical learning with hands-on practical training, we empower participants to excel in their fields while championing lifelong learning and life enrichment. This collaboration also paves the way for achieving our goal of expanding into the tourism and hospitality industry, both in the local market and beyond, further solidifying our commitment to innovation, growth, and excellence for learners from all walks of life,” said School of Continuing Education Dean Mahmoud Allam.

ALSO WORTH NOTING- Six Egyptians were named among the top 120 female founders to watch in inDrive’s Aurora Tech Award 2025, a prize for women founders of tech startups across the world. The winners were selected from over 2k applicants across 116 countries, with the Egyptians named on the list including:

Naglaa Mohammad (LinkedIn), co-founder of raw materials manufacturer P-Vita ;
Nesma Amin (LinkedIn), co-founder of menstrual cycle tracker Aziza ;
Menna Farouk (Linkedin), co-founder of scooter and bicycle platform Dosy ;
Sally Asaad (LinkedIn), co-founder of payment platform Balad ;
Salma Medhat (Linkedin), co-founder of personal safety app Hiryo ;
Laila Badawi (LinkedIn), founder of digital sports choreography platform Fishtail.

Hazem Helal named new CEO of Orascom Development’s O West, Makadi Heights, and Byoum. PLUS: Fine Hygienic Holding taps new Egypt head

Hazem Helal (LinkedIn) has been appointed CEO of O West, Makadi Heights, and Byoum by Orascom Development, the company announced yesterday in a statement (pdf). Helal steps into the role after serving as vice chairman of Al Ahly Sports Facilities Company, where he led the development of a new stadium and sports city.

Helal brings a wealth of real estate experience to his new role, having scaled Mountain View’s sales in five years while serving as commercial director for the firm. He also sits on the real estate committee at AmCham Egypt and holds degrees from Harvard Business School and AUC’s Engineering School. Helal also spent over a decade at P&G in various leadership roles.

AND- Fine Hygienic Holding has tapped Hesham Abouzeina (LinkedIn) as its new Egypt head, the company said in a statement. Abouzeina will take up the role of general manager in the country after having worked for 30 years in leadership roles in multinationals across various sectors. “His deep understanding of the Egyptian market and proven track record in business transformation and remarkable sales growth will further propel our growth strategy and success in Egypt,” the statement writes

** We highlighted Fine Hygienic Holding in our Manufacturer of the Month column this week. You can check out the story here.

Raseedi eyes seven-figure investment in newly acquired nanocredit outfit Kashat. PLUS: Apache, Madinet Masr, Bank ABC + Eroglu Garment, Goldman Sachs

FINTECH-

Fintech startup Raseedi is set to invest a seven-figure USD sum into Kashat and its subsidiary Pharos Microfinance, with aims to reach a combined portfolio size of EGP 500 mn this year, CEO Ahmed Atalla told Al Borsa. The move follows Raseedi’s acquisition of Kashat this month in an equity deal that will enable the startup to introduce instant microloans.

Funding talks underway: Raseedi is negotiating with a VC firm and three banks for EGP 3 bn in financing over three years, EGP 500 mn of which will be for the current year.

ENERGY-

US oil producer Apache further strengthens presence by signing up for four additional Western Desert blocks totaling over 6.3k sqm, representing a 30% increase to the company’s overall concessions in Egypt, according to Mees. The expansion follows an earlier agreement with the Oil Ministry that saw it agree to pay the firm USD 4.25/mn BTU for gas from new discoveries and untapped assets, up from a price of USD 2.65/mn BTU for its existing onshore gas output — representing a 60% price hike, the report reads.

REAL ESTATE-

Madinet Masr has inked a EGP 263 mn agreement with Al Tawakol Group subsidiary GTCI Constructors to enhance the infrastructure of the real estate developer’s Taj City development, according to a statement (pdf). The new engineering, procurement, and construction partner will work on expanding water and irrigation tanks in Taj City, in addition to creating green spaces. Work is expected to start and wrap up in 2025.

DEBT-

Bank ABC has extended a USD 18 mn, seven-year loan to Eroglu Garment — a subsidiary of Turkish clothing manufacturer Eroglu Holding — to support the construction of its USD 40 mn factory in the Suez Canal Economic Zone, the bank said in a statement (pdf). The project, expected to create 3k jobs, is part of Eroglu’s plan to expand its operations and make Egypt a regional manufacturing hub.

Eroglu has plenty more in its Egypt pipeline, with the clothing manufacturer breaking ground on a USD 51 mn garments factory in the Qantara West Industrial Zone in November, marking its third project in the area within four months.

INVESTMENT-

Goldman Sachs discussed investing in Egypt with Investment Minister Hassan El Khatib, during a delegation visit from the investment bank yesterday, according to a ministry statement. Goldman Sachs economist for MENA Farouk Soussa noted that the country’s competitive market and advanced infrastructure offer exceptional prospects for collaboration on initiatives with a sustainable economic impact. The meeting concluded with a commitment to fostering sustainable growth and empowering local businesses, alongside plans to establish a framework for actionable cooperation.

Crypto hedge funds fell short of BTC’s 120% rally in 2024

Crypto hedge funds underperform BTC in 2024 despite strong returns: While 2024 was a strong year for crypto, with BTC surging 120% to exceed USD 100k, crypto-focused hedge funds gained just 40%, struggling to keep up with BTC’s pace, Bloomberg says, citing data from the VisionTrack Composite Index.

The year saw significant volatility, with crypto funds facing 20-30% drawdowns in spring and summer. However, most gains occurred in the final quarter, fueled by improved sentiment and the election of crypto-friendly US president-elect Donald Trump, which propelled BTC to fresh highs.

Crypto hedge funds faced stiff competition from low-fee, BTC-focused ETFs, which offered investors a cost-effective alternative to high-fee fund strategies. BTC and memecoins dominated the market, leaving little room for other digital assets to compete, Reflexive Capital CIO David Kalk noted.

Hedge funds struggled with timing BTC’s performance due to their need to manage risk-sensitive drawdowns. “In the hedge fund world, drawdowns are quite sensitive and so you can’t just always be fully exposed long,” Tread.fi CEO David Jeong said to Bloomberg.

Best performing strategies and leading funds: Directional and quantitative strategies led the way in 2024. The VisionTrack Quant Directional Index rose 53.7%, while Galaxy Digital’s Alpha Liquid Fund gained 76.6%. ProChain Master Fund achieved a 70% return by focusing on large-cap tokens like Bitcoin, outperforming altcoin-centric funds. Fundamental research funds — which rely on research in tokens and blockchains — also performed well in general, as US-based Reflexive Capital posted 106% net returns.

MARKETS THIS MORNING-

Asian markets rallied this morning, driven by Wall Street gains and South Korea’s decision to keep rates unchanged. Hang Seng (Hong Kong) rose 0.9%, while Shanghai Composite and Japan’s Nikkei both saw a 0.3% rise. Meanwhile, Wall Street futures inched slightly higher, after the best S&P performance since November.

EGX30	29,390	+1.5% (YTD: -1.2%)
USD (CBE)	Buy 50.37	Sell 50.51
USD (CIB)	Buy 50.38	Sell 50.48
Interest rates (CBE)	27.25% deposit	28.25% lending
Tadawul	12,212	+0.3% (YTD: +1.5%)
ADX	9513	+0.2% (YTD: +1.0%)
DFM	5251	+0.1% (YTD: +1.8%)
S&P 500	5950	+1.8% (YTD: +1.2%)
FTSE 100	8301	+1.2% (YTD: +1.6%)
Euro Stoxx 50	5032	+1.0% (YTD: +2.8%)
Brent crude	USD 82.03	+2.6%
Natural gas (Nymex)	USD 4.11	+0.5%
Gold	USD 2720.80	+1.4%
BTC	USD 99,659.60	+3.3% (YTD: +6.6%)

THE CLOSING BELL-

The EGX30 rose 1.5% at yesterday’s close on turnover of EGP 3.8 bn (0.2% above the 90-day average). Egyptian investors were the sole net sellers. The index is down 1.2% YTD.

In the green: Heliopolis Housing (+9.4%), Oriental Weavers (+5.1%), and Emaar Misr (+4.9%).

In the red: Juhayna (-1.1%), Telecom Egypt (-1.1%), and Elsewedy Electric (-1.1%).

CORPORATE ACTIONS-

Ezz Steel majority shareholder Ahmed Ezz has objected to his exclusion — along with entities held for his benefit — from voting in an extraordinary general meeting scheduled for 28 January that will cover the proposed voluntary delisting of the company’s shares from the EGX, according to a statement (pdf) from the Financial Regulatory Authority. The authority will review Ezz’s appeal on 22 January. Ezz owns above 68% of the company’s shares, the statement noted.

My Morning Routine: Ahmed Nassef, chief operating officer of Dopay

Ahmed Nassef, COO of Dopay: 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 chief operating officer of Dopay, Ahmed Nassef (LinkedIn). Edited excerpts from our conversation:

My name is Ahmed Nassef. I’m the COO of Dopay, a fintech company driving financial inclusion in emerging markets. I’m passionate about building businesses that make a real impact. At Dopay, we’re on a mission to bring unbanked workers into the mainstream economy while solving payroll headaches for businesses.

As COO, I oversee operations, strategy execution, and scaling the business. My role is about facilitating solutions, building scalable processes, and ensuring alignment across teams. In high-growth environments, my responsibility is to tackle whatever needs to be done. My main role is to facilitate, helping both people and companies solve problems, while building scalable processes and ensuring alignment across teams. I’m also responsible for ordering donuts for our Cairo office.

Egypt has mns of people that don't have a bank account, and convincing them to adopt financial tools is difficult. We make it easy for companies to pay workers through our platform, eliminating the inefficiencies, costs, and risks associated with cash payments. Through our platform, companies can instantly and securely pay workers via Dopay cards — even on holidays.

We’re currently testing EarlyPay, a product that lets workers access their earnings before payday. It’s a game-changer, especially during tough economic times, since it provides liquidity without forcing people to resort to high-interest loans.

My day starts very early — I’m up by 6 or 6:30am. The first task is feeding my cat to ensure a peaceful start to the morning. Then, I brew my coffee, prioritizing quality beans from Shaheen. After my coffee, I check Slack for messages, read EnterpriseAM on my phone, and catch up on global news via the New York Times before heading to work, which is usually a 15-minute drive.

No two days are the same. My schedule includes a mix of internal and external meetings, with time for planning and strategy in the evenings or weekends. Between meetings, I catch up on emails, address team concerns, and problem-solve. I conduct weekly one-on-ones to review team progress and quarterly goals.

For me, laughter is a constant in my day — and I take it seriously. Work has to be fun to be truly productive and meaningful. Personally, I struggle when I’m not enjoying what I do, and I try to ensure that my team feels the same sense of enjoyment and purpose.

Creating a positive and fun environment also makes it easier to handle the pressures of a fast-growing business. Deadlines, extra hours, and tough projects are part of the deal, but when you’re working with kind people and having fun along the way, it’s easier to stay motivated and put in the extra effort needed for success.

Our mission isn’t just something framed on a wall that we forget about — it genuinely drives everything we do. At Dopay, our mission is to help workers enter the financial mainstream, enabling them to plan and build better lives for themselves and their families. Whether we’re discussing a new product, pricing strategies, or logistical challenges like delivering payroll cards on time, the mission forces us to ask the right questions: How does this impact the workers? What can we do to make this valuable for companies while staying true to our goal?

On a personal level, I’m trying to focus on doing more of what I enjoy — especially meaningful work. I’m grateful to have the chance to do work that makes a real difference. At Dopay, we’re solving problems with a product that genuinely helps people. Looking ahead, I’m eager to reach more workers and companies, especially in Egypt. I see massive potential here, and while some might be looking to expand beyond the country quickly, we’re committed to unlocking the potential in front of us.

Work-life balance is crucial, but it’s different for everyone. I truly enjoy my work and find it meaningful, but I also recognize that others may have different responsibilities and priorities. Some people have families, children, and other commitments that require attention, and that should always be a priority. It’s about respecting individual choices, while being clear and flexible with expectations. Instead of enforcing rigid schedules or worrying about appearances, the focus should be on results.

Beyond work, I find that simply changing my location can help me relax, even if I'm still working. I especially enjoy being near the beach or water — it allows me to feel at ease while also being productive. I love to travel, and I make sure to leave time for both work and relaxation.

My work takes up a lot of my time, so I don't read as much as I'd like. When it comes to watching shows, I tend to stick to old movies and series I've already seen multiple times, like Mad Men, The Sopranos, or The Wire. For example, I've watched Mad Men at least four times.

A piece of advice that has stuck with me since early in my career was from a workshop on The Seven Habits of Highly Effective People. One habit emphasizes focusing on your sphere of influence, which I find really helpful both in my personal and work life. Often, we tend to focus on things outside of our control, but instead, we should focus on areas we can actually change or improve.

CALENDAR

JANUARY

18 January (Saturday): Soil Spaces launch event, Mivida, New Cairo

20-24 January (Monday-Friday): World Economic Forum Annual Meeting

23 January- 5 February (Thursday-Wednesday): Cairo International Book Fair, Egypt International Exhibitions Center, Cairo

28 January (Tuesday): Nigeria to inaugurate the USD 5 bn Africa Energy Bank in Abuja

28-29 January (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

Health Ministry finalizes partnership with Gustave Roussy to operate Dar El Salam Hospital.

CBE to launch InstaPay remittances for Egyptians abroad

Building permit applications in Egypt's new cities will go online

Accor Group to open Sofitel Cairo Downtown Nile, the world’s largest Sofitel.

Egyptian National Railways to launch tender for Tanta-Mansoura-Damietta railway line upgrades

Food products will require food safety and validity certificates from the National Food Safety Authority (NFSA)

Bavarian Delegation visit to Egypt

FEBRUARY

BP to bring the second well of its Raven natural gas project online, with additional production capacity expected.

Orascom Pyramids Entertainment to bring total investments in the Pyramids Plateau to EGP 1.5 bn.

Subscription period for Your Home in Egypt initiative opens.

2 February: Energy Day Conference, Cairo, Egypt.

17-19 February (Monday-Wednesday): EGYPES Technical Conference, Egypt International Exhibition Center, Cairo, Egypt.

18-19 February (Saturday-Sunday): German-Egyptian Joint Economic Committee meetings, Cairo, Egypt

20 February (Thursday): Monetary Policy Committee's first meeting.

MARCH

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

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.

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

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

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

MAY

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

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

25 December 2025 (Thursday): Monetary Policy Committee’s eighth meeting.

December 2025: 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: 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

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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