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THE WEEK IN REVIEW

GDP growth picks up to 4.5% in FY 2024-25

Good morning, friends. Happy Mawlid Al Nabi and welcome to a long-awaited long weekend. With more time on your hands, there’s much to do and see, and we’ve got you covered.

Have you found yourself marvelling at small beauties lately? Well, how about you dedicate some time to properly peruse Cairo’s art galleries and exhibitions? In this week’s edition of The Enterprise Guide, we’re listing down our favorite artsy havens and exhibitions you shouldn’t miss out on.

?️ LAST WEEK IN 3 MINS-

ECONOMY-

The economy grew at a 4.5% clip during the fiscal year 2024-2025, exceeding the 4.2% penciled in in the draft budget and almost doubling y-o-y from the 2.4% recorded in FY 2023-2024, Finance Minister Ahmed Kouchouk said during a presser attended by EnterpriseAM earlier this week. External debt fell USD 1 bn last fiscal year, and by about USD 4 bn over the past two years, this pushed the debt-to-GDP ratio to 85.6% in June 2025 from 89.4% in June 2024.

BANKING-

Local banks are starting to lower interest rates on savings products following the central bank’s 200 bps rate cut last week, with Banque Misr and the National Bank of Egypt (NBE) leading the way.

INVESTMENT WATCH-

China Energy Engineering Corporation (CEEC) is looking to invest USD 1 bn in Egypt over the next five years in desalination, renewables, and energy storage, Chairman Ni Zhen told Prime Minister Moustafa Madbouly on the sidelines of the Shanghai Cooperation Organization Plus summit. The company is also in talks with the Electricity Ministry over the possibility of investing in power generation, Zhen said.

ENERGY-

Egypt will begin construction of a long-stalled gas pipeline with Israel next year, a government source told EnterpriseAM, adding that the project was agreed to years ago, but was put on hold due to financial issues and geopolitical turmoil. This comes as we prepare to more than double Leviathan gas imports under the recently inked USD 35 bn agreement to send 130 bn cubic metres of gas to Egypt from 2026 through 2040.

DEBT WATCH-

#1- The Madbouly government plans to take EGP 25 bn worth of local sukuk to market this fiscal year, with the first issuance to take place before the end of 2025, a senior government official told EnterpriseAM. The Finance Ministry has finalized the sukuk program’s schedule, the source said, adding that the issuances will come in the form of short- and medium-term tranches.

#2- Gov’t ramps up borrowing target for the month: The Finance Ministry has upped its monthly borrowing target for September to EGP 838 bn, a 25% jump from August’s EGP 670 bn, a government source told EnterpriseAM. This move comes in response to the heightened demand from investors for local debt instruments.

DIPLOMACY-

Egypt and Qatar are moving closer to activating the USD 7.5 bn Qatari direct investment package. The meeting between Egyptian Prime Minister Moustafa Madbouly and his Qatari counterpart Sheikh Mohammed bin Abdulrahman Al Thani addressed steps to activate the investment package, which was first announced during President Abdel Fattah El Sisi’s visit to Qatar in April, and reviewed ways to facilitate Qatari investments and engagement with Egypt’s business community.

AUTOMOTIVE-

Auto sales fell 4.9% m-o-m in July to 15.6k units from June’s 16.4k, according to figures from the Automotive Marketing Information Council (Amic) seen by EnterpriseAM. The dip comes after five straight months of gains which started in February, though July still marked the second-highest total vehicle count since June 2022.

AROUND THE WORLD IN SEVEN DAYS-

Tariffs hit a snag: A US court of appeals ruled last Friday that President Trump’s aggressive trade agenda is overstepping his presidential authority. The ruling blocks sweeping tariffs on all imports from countries, but does not affect tariffs on specific industries like steel, aluminum, and autos.

ALSO IN THE US- Gold prices rose to fresh highs as traders reacted to a weakening greenback and expectations of a Fed rate cut this month. The price of gold rose above USD USD 3.5k per ounce this week. Meanwhile, silver hit a 14-year high of USD 41.00 per ounce.

OVER IN THE BUSINESS PRESS- Nestle fired CEO Laurent Freixe after an investigation confirmed he breached the company’s code of conduct by engaging in an “undisclosed romantic relationship” with a direct subordinate. The move takes place exactly a year after he took office.

Google won’t have to sell Chrome after all: Tech giant Google will not be forced to sell Chrome or Android, according to the US Department of Justice ruling, instead it will be required to share more data with competitors and limit its exclusive distribution contracts — including its exclusive partnership with Apple for its Gemini chatbot. The ruling follows last year’s verdict that Google illegally monopolized the online search market.

A magnitude 6.0 earthquake in Afghanistan left over 1k dead and 2.8k injured late Sunday. The quake struck 27 km from Jalalabad, with its impact felt in the Afghan capital of Kabul 161 km away, CNN reported.

Another natural disaster followed, with a landslide in western Sudan killing at least 370 people. The Sudan Liberation Movement, which is in control of the affected Marra Mountains area, claimed that the death toll surpassed 1k. The landslide was triggered by days of heavy rain, and left the village of Tarasin flattened. The natural disaster is among the deadliest in Sudan’s recent history.

Israeli airstrikes on Yemen killed Houthi’s Prime Minister Ahmed Al Rahawi and several political leaders last Thursday. The news came as Hamas also confirmed the death of military chief Mohammad Sinwar.

ALSO- Israel said it killed Hamas spokesman Abu Obeida on Saturday. Israeli Defense Minister Israel Katz said in a post on X that forces have “eliminated” the masked spokesman.

☀️ THE WEATHER THIS WEEKEND-

We’re in for a warm time, with temperatures in Cairo set to peak at 34-36°C over the long weekend, before cooling down to 22-23°C. Spending the weekend up north? We’re expecting highs of 28-29°C and lows of 26-27°C, according to our favorite weather app.

?️HAPPENING THIS WEEKEND-

Show off your trivia skills with Chipmunk’s famous Trivia Night at Darb 15. Prepare yourself for some friendly competition and join tomorrow. Register through the link in their Instagram bio.

Opt for a slow morning and join Darb 15’s Cairo Morning Club for Minimalism: Less is More. Breathwork, meditation, journaling, and intentional conversations are all part of the agenda on Friday. Book your spot through the link in their Instagram bio.

Some of your favorite comedians are taking the stage for the Stand Up Comedy Show at Theatro Arkan. Laugh the night away on Friday and get your tickets on Ticketsmarché.

Customize your own rug in a tufting workshop with Tuft Egypt at Darb 15. Join the creative session on Saturday and register through the link in their Instagram bio.

Channel your passion for jewelry and make your own with Joud’s Wearable Suncatcher Workshop at Darb 15. Enjoy the experience of wearing light-catching accessories. Join on Saturday and secure your spot through the link in their Instagram bio.

We’re in for another musical night with Medhat Saleh led by Maestro Amro Selim alongside a performance by Mai Farouk at Marassi’s Address Beach Resort. Don’t miss it on Saturday and get your tickets through Ticketsmarché.

?️HAPPENING NEXT WEEKEND-

Good news, friends: We’ve got some squash to look forward to this September. Running from Friday, 12 September to Friday, 19 September, the CIB Egyptian Squash Open 2025 — headlined by World No. 1s Mostafa Asal and Nouran Gohar — will be taking place right by the Great Pyramids of Giza, with opening games at Club O West. Ticket details are yet to be confirmed, but we’d suggest keeping an eye out for them on the tournament’s website.

Address Beach Resort is where the fun never stops. Megastars Wael Gassar and Reham Abdelhakim will give electric performances at Marassi on Saturday, 13 September. Head over to Ticketsmarché for tickets.

An artist’s guide to Cairo

?️ Cairo’s art scene rests comfortably on — and draws strength from — its historical foundations while embracing the innovation of its current artists. The city has established itself as a significant cultural hub, fostering both cutting-edge work and cross-disciplinary collaborations. For the artistically inclined, Cairo’s dynamic scene offers substantial depth and variety. The city’s calendar consistently features galleries, exhibitions, workshops, art fairs, and cultural programming that reflect both local perspectives and international dialogue.

DISCOVER CAIRO’S LOCAL SCENE-

#1- TAM.Gallery: As Egypt’s first major online gallery with two major branches to boot, TAM.Gallery has built the country’s most comprehensive collection of contemporary Egyptian art since its 2012 founding. Housing over 9k pieces from 500 Egyptian artists, the gallery provides extensive support for local artists through exhibitions, curational services, and commissions.

WHERE TO FIND IT- The iconic gallery’s main exhibition hall is located on Cairo-Alexandria Desert Road, and its second Cairo location can be found in Marakez’s District 5.

#2- Ubuntu Art Gallery: This Zamalek institution focuses on emerging Egyptian artists while serving as a contemporary art hub. The gallery’s name, derived from the Swahili concept of “I am because we all are,” reflects the gallery’s collaborative approach. Ubuntu enhances its exhibition program with monthly lectures on cultural and artistic topics, creating space for both the visual and intellectual pursuit of art.

WHERE TO FIND IT- You can find Ubuntu Art Gallery in the heart of Zamalek on Hassan Sabry Street.

#3- Cleg Art Gallery: Established by four women following their collaborative exhibition Colors of Egypt, Cleg Art Gallery specializes in concept-driven work across multiple media including painting, sculpture, and photography. The gallery particularly champions avant-garde approaches and experimental practices through paintings, sculptures, and photography. Awaiting you in its halls are standout art works that provoke, inspire, and resonate long after.

WHERE TO FIND IT- Cleg Art Gallery leaves its mark in Sheikh Zayed’s District 2.

#4- Gallery Misr: Within a decade of operation, Gallery Misr has become a prominent Zamalek destination among aficionados. The gallery presents work by Egyptian and Arab artists across diverse media, from traditional painting and sculpture that stays faithful to the gallery’s name, to audio-visual installations and experimental photography, offering programming that includes both emerging and established voices.

WHERE TO FIND IT- You can find Gallery Misr at Zamalek’s Ibn Zinky St.

FOR THE LOVE OF MODERN & CONTEMPORARY ART-

#1- Picasso Art Gallery: Contributing to the Egyptian art scene since 1996, Picasso Art Gallery evolved from a frame-making business into a significant exhibition space. The gallery presents work from some of Egypt’s most renowned and bold artists alongside international practitioners, emphasizing diverse approaches and techniques within modern art contexts, lending to conversations around global modern art.

WHERE TO FIND IT- Picasso Art Gallery makes its home in Zamalek, Cairo’s hub for art galleries.

#2- Gypsum Gallery: With a roster of 13 artists from the Middle East, Europe, and the US, Gypsum maintains an international program that examines art through social and political perspectives. The gallery specializes in introducing progressive contemporary work to commercial settings across various media. Gypsum gallery isn’t just another stop, it’s a transformative experience with contemporary art.

WHERE TO FIND IT- Gypsum gallery makes its home in Road 218, Maadi Degla.

HISTORICAL AND CROSS-CULTURAL PROGRAMMING-

#1- Liwan Art Gallery: As Egypt’s dedicated oriental art gallery, Liwan transcends time and boundaries by curating exhibitions spanning different periods and cultural contexts. Founded by a collector in the 1980s, the gallery specializes in works that bridge traditional and contemporary approaches. If you’re looking for unique and conceptual pieces, this is the gallery to indulge in.

WHERE TO FIND IT- You can find Liwan Art Gallery nestled in Hassan Assem St., Zamalek.

ART THROUGH THE LENS-

#1- Tintera: Egypt’s first photography-exclusive gallery, founded in 2019 by photographers Zeina Khalifa and Heba Farid, Tintera addresses the medium’s need for dedicated exhibition space. Beyond contemporary work, Tintera also preserves and presents vintage family collections and historical archives from decades past. With its thoughtfully curated exhibitions, Tintera is for those looking for more barefaced expressions of art.

WHERE TO FIND IT- You can find Tintera alongside fellow art galleries in Zamalek.

UPCOMING ART MOMENTS-

#1- Italian Photography Exhibition at Tahrir Museum: This three-month exhibition, running since late August, presents Italian photographers’ documentation of Egypt from 1860 to 1940, offering a seldom-seen historical perspective on the country’s architectural and social landscape. The collection includes images of Egypt’s heritage, from unfinished temples to vibrant streets.

#2- The Voice of Egypt at Aisha Fahmy Palace: Egypt’s vocal monarch Umm Kulthum is celebrated once again at Zamalek’s Aisha Fahmy Palace through an exhibition that features personal artifacts and archival materials that illuminate the legendary singer’s life and cultural impact. The exhibition will run until Saturday, 15 November.

#3- Art D’Egypte programming: Two significant exhibitions anchor Art D’Egypte’s current showings: Tale of Two Cities at Alexandria’s Graeco-Roman Museum — through Saturday, September 20 — which explores cultural connections between Alexandria and Milan through Italian artists’ work, and the highly anticipated Forever Is Now installation at the Great Pyramids of Giza, which runs from Tuesday, 11 November until Sunday, 7 December.

All’s fair in love and war

? A marital nightmare in The Roses: A remake of the 1989 classic film The War of the Roses and an adaptation of the 1981 novel of the same name, The Roses follows a couple whose love for one another has faded, leading them into a battle that pushes them towards separation. The good news? They’re played by Olivia Colman and Benedict Cumberbatch, so you know you’re in for a treat.

How the cookie crumbles: Theo Rose (Cumberbatch), an architect living in London, meets Ivy (Colman), a professional chef, by chance at a restaurant. It’s love at first sight, and Theo uproots his life to move to California, where they marry and welcome twins into their lives. Theo starts working for an architectural design firm and finishes work on his masterpiece: a building on the edge of a harbor symbolizing the history of the state. Theo encourages Ivy to pursue her own dream: a seafood restaurant.

The winds of change blow: When a literal massive storm hits, destroying the building Theo designed — and with it, his career — the couple’s trajectory changes. On that same night, Ivy’s restaurant thrives as customers seeking shelter come in droves. Among them is a famous critic who praises the restaurant, bringing newfound success to Ivy’s humble culinary dream.

Love gives way to resentment: Theo finds himself falling in a pit of depression, with his career now stained by an unforgettable disaster. Ivy is gone for days at a time, busy with her booming business. Small conflicts turn into bigger ones, and jealousy, resentment, and anger fills the house as the couple attempts to salvage what they can.

A masterclass in acting: There’s not much that needs to be said about a movie starring two seasoned on-screen veterans such as Cumberbatch and Colman. The film tackles a painful tragedy with a cynical and humorous tone, interspersed with emotional moments that left an impact.

The writing is incredible, and the dialogue is clever, knowing when to draw laughs and trigger tears. The sequence of events is smooth, moving between past, present, and future with practiced ease — essentially summarizing an entire lifetime. The Roses takes audiences from the moment both characters meet all the way to a shocking, satirical, and comedic final scene, which left a smile on our faces.

Showstopping performances all around: One of our favorite scenes was the appearance of actress Allison Janney as Eleanor, Ivy’s lawyer. Our only complaint was that we hoped she would get more screen time. And while Amy (Kate McKinnon), the couple’s American friend, often made us cringe, she kept the laughs coming, especially in scenes with her husband Perry (Andy Samberg).

As we neared the final act, we realized that this was a film we wanted to see again. The Roses redefines satirical romcoms through the integration of masterful acting and cinematography. It presents a realistic story wrapped in layers of cynicism, dark comedy, and emotional moments.

WHERE TO WATCH- You can catch The Roses at VOX Cinemas in City Center Almaza, Mall of Egypt, and Mall of Alexandria. The film is also screening at City Stars Cinema, Scene Cinemas at CFCM and District 5, Cima Arkan, Zawya, and P90 Cinema. Catch the trailer on YouTube (runtime: 2:34).

This novel is fundamentally controversial

? A debut novel that packs a punch, Fundamentally by writer and former humanitarian worker Nussaibah Younis was shortlisted for the 2025 Women’s Prize for Fiction. This is a humorous yet serious story of an academic with a bold dream that takes her straight to ISIS territory.

The novel starts with Nadia, a British woman out of place as she hikes through the Zagros mountains on a cold September night, exhausted and distraught — and dressed in designer clothes. She’s accompanied by Sara and a man called Darban, who appears to be smuggling them out of ISIS territory. Right off the bat, the first chapter — which takes place five months after the actual events of the novel begin — ends with a mysterious statement from our narrator, implying that she has committed some unforgivable act, yet the reader remains in the dark.

Flashback: Nadia Amin is a UN worker who arrives in Baghdad. She’s shocked by her surroundings, initially expecting to encounter a war torn city in a destitute state. Nadia soon realizes that Baghdad is… well, habitable — with power, bustling streets, and generally full of life. This is a far cry from what she, a UN worker, was under the impression of. She walks past Mercedes cars and five-star hotels, finding herself in disbelief. “I signed up for cluster munitions, not glitter bombs,” she thinks. Little does Nadia know, however, that she’s about to face exactly that.

Why is Nadia in Baghdad in the first place? She’s there for a “de-radicalization program for ISIS brides.” It’s exactly what it says on the tin. Manifesting a self-fulfilling prophecy, Nadia had published a paper on de-radicalization — one so impactful that the UN invited her to put her theory to practice. Settling in the UN camp, Nadia gets to work, later meeting Sara, a 15-year-old ISIS bride from East London who had followed her friend Jamilah (who herself was indoctrinated by a mysterious Wilburt online) to the warzone.

While this may seem like a ridiculous premise, it’s a mirror of reality. Under the literal and metaphorical “abaya” Sara is wearing, she’s just a kid who reads Marvel comics and watches The Sopranos, who just might have unknowingly taken rebellion a little too far. Sara and Nadia come to find out that they’re not too dissimilar — and Nadia finds herself wondering if she would have made the same mistake as Sara back in her teenage years. As the events of the novel progress, Sara drops a metaphorical bomb on Nadia, forcing her to rethink her mission entirely.

The novel features chapters that alternate between present day Iraq and Nadia’s own childhood and upbringing in London. In a way, Nadia is also “de-radicalizing” herself as a woman who grew up in a strict British Muslim household, subjected to religious guilt and shaming. The novel, while at times funny, does not resort to clichés. Humor is natural, and is the kind to be expected in a character who’s well on her way to insanity — after all, this is a fool’s errand.

The tone remains realistic, mature, and the writing is serious — even when dominated by humor, which doesn’t take away from the situation at hand, but rather amplifies its implications. The book doesn’t shy away from the risqué, so if you’re not comfortable with a crude joke, an inappropriate introspection here and there, or characters that don’t fit the social norms expected to be followed in Muslim societies, this is your friendly warning.

WHERE TO GET IT- You can find Fundamentally at Diwan. You can also find the ebook on Amazon.

The best Lebanese fatteh you’ll ever have

? Cairo has no shortage of authentic Lebanese restaurants that deliver on all fronts, yet New Cairo’s Ahwet Zeitouna still manages to stand out. With hopes of heavenly stuffed vine leaves, creamy hummus, and fresh lemon mint, we packed up and headed to the Lebanese bistro to see what all the fuss was about. Spoiler: we were not disappointed.

Following the Lebanese tradition of family-style communal dining, Ahwet Zeitouna’s seating arrangements are designed in a way to spark conversation. Warm wooden accents, cozy and simple chairs reminiscent of garden gatherings, and bright neutrals set the tone for the experience. Upon arrival, we were surprised to find Ahwet Zeitouna nearly packed to the brim — considering its culinary neighbors seemed to enjoy some peace and quiet — yet we were lucky enough to snag a table that was suddenly made available. Rested and comfortable, we got to perusing the menu — which you can find on their Instagram.

It’s all that you’d expect out of a Lebanese restaurant, but done right. You’ll find all sorts of Lebanese staples. If you’re going for breakfast, you’ll find falafel, labneh, halloumi (fried or grilled), ful, eggs, and Saj (Lebanese flatbread). We, however, had our eyes (and stomachs) set on lunch. After careful consideration of the menu’s plentiful options, we locked in our answers and ordered kebbeh fatteh, hummus, vine leaves, and a shish tawook platter.

The fatteh was a showstopper, and one we’ll be coming back for again and again. It’s filling, flavorsome, and simply melts in your mouth — clichés ignored. The vine leaves, served cold with pomegranate molasses, is an appetizer you shouldn’t miss. The hummus had the ideal texture — not too thick, not too watery, and the shish tawook delivered as well, though overshadowed by the fatteh, which was the uncontested culinary victor of the day.

Meal devoured and lemon mint savored, we found ourselves lingering at Ahwet Zeitouna. The restaurant makes it hard not to do so. There, you’ll also find non-alcoholic beer, argileh (when in Rome), and a few light desserts (and a couple not-so-light ones).

WHERE TO FIND AHWET ZEITOUNA- You can find the Lebanese bistro at New Cairo’s 5A by the Waterway. You can also order through Talabat and El Menus.

? Per person: EGP 900-1k

? Outdoor seating: Yes

? Alcohol: No

? Accessibility friendly: Yes

Don’t get it? Vox will explain it

?Ask Vox anything: Launched in 2024 by Vox Media and hosted by broadcasting veteran Jonquilyn Hill, Explain it to Me is a weekly podcast that sees Hill answering listeners' questions about anything and everything, from retirement planning to simple everyday curiosities — like why it’s so difficult to open jars.

A journey of discovery: In each episode, Hill covers a slew of topics,from health and relationships to pop culture and politics using various methods, including a direct hotline for questions. The host provides clear, simple explanations following a distinct journalistic approach.

Episodes begin with a central question before Hill analyzes the topic at hand to find the right answer, whether it takes her to the halls of Congress or to a chat with a small café owner. The show is engaging, conversational, and adds a dash of humor, ensuring listeners get their answers along with a dose of wit.

Why are Gen Z Americans turning to religion? In one notable episode, Hill analyzes why young Americans are turning back to religious practices. The episode includes contributions from listeners, including the story of one Mackenzie Haas (25), who says he found his way to faith despite a non-religious upbringing.

Expert Ryan Burge points to an unprecedented phenomenon: Gen Z attends weekly church services at higher rates than older generations, with a particular increase within Catholic congregations. “This particular trend [...] is unique in the history of humanity in a certain respect,” one priest said. Through a mix of personal testimonies, on-the-ground reporting, and expert analysis, the episode dissects the cultural shift underway… and well, answers the question.

The podcast has amassed a large following thanks to its interactive format, and scored a rating of 4.4 on Apple Podcasts with over 7k reviews from what Hill describes as “naturally curious” people who aren’t afraid to ask questions.

THE ENTERPRISE ENTERTAINMENT CALENDAR

? SEPTEMBER

1-7 (Monday - Sunday): Amira Selim singing masterclass at Khayal Arts and Music Academy.

3 September (Wednesday): John Achkar at Arkan Theatre.

4 September (Thursday): Al Mawlid Al Nabawi.

4 September (Thursday): Trivia Night at Darb 15.

5 September (Friday): Minimalism: Less is More at Darb 15.

5 September (Friday): The Stand Up Comedy Show at Theatro Arkan

6 September (Saturday): Medhat Saleh at The Address Beach Resort.

6 September (Saturday): Tufting workshop at Darb 15.

6 September (Saturday): Wearable suncatcher workshop at Darb 15.

10 September (Wednesday): George Wassuf tribute night at Madinaty’s Boom Room.

10 September (Wednesday): Not Just for Men Comedy Show at Rihany Theatre.

12-19 September (Friday-Friday): CIB Egyptian Squash Open 2025 at the Great Pyramids of Giza.

13 September (Saturday): Wael Gassar and Reham Abdelhakim at The Address Beach Resort.

18 September (Thursday): Ragheb Allama at The Address Beach Resort.

19 September (Friday): Tamer Ashour at The Address Beach Resort.

20 September (Saturday): Assala and Ahmed Saad at The Address Beach Resort.

OCTOBER

3 October (Friday): Tamino at the Cairo International Convention Center.

6 October (Monday): Armed forces day.

7 October (Tuesday): Enterprise Egypt Forum 2025.

10 October (Friday): Anyma at The Great Pyramids.

15 October (Wednesday): Scorpions concert at New Capital.

16-24 October (Thursday-Friday): Gouna Film Festival.

NOVEMBER

11 November - 7 December (Tuesday - Sunday): Forever is Now at the Great Pyramids of Giza.

DECEMBER

19 December (Friday): DJ Tiësto at the Giza Plateau.

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GDP growth picks up to 4.5% in FY 2024-25

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