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Tie the knot


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Venues for your big day.
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Third tranche arrives.
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A sweet and guiltless summer treat.
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Fun fact central.
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THE WEEK IN REVIEW

USD 820 mn tranche lands in Egyptian state coffers after IMF rubber stamp third review

Good morning, friends, and a warm welcome to the weekend. It was one busy week for politics, economic, business, and even sports news with the Paris Olympics jostling for attention.

LAST WEEK IN 3 MINS-

ECONOMY-

#1- Third IMF review complete: The IMF Executive Board has completed the third review of our USD 8 bn loan program, enabling the Madbouly government to receive the USD 820 mn third tranche, the multilateral lender said on Tuesday. The tranche arrived yesterday, Prime Minister Moustafa Madbouly said in a statement.


#2- Egypt’s non-oil trade deficit narrowed by 16% y-o-y to USD 15.9 bn in the first half of 2024, down from USD 18.9 bn during the same period last year, driven by a 9.8% rise in exports and a 3.3% dip in imports.

IPO WATCH-

Act Financial shares rose 29.7% on their first day oftrading on Wednesday to close at EGP 3.76 — up from their initial price of EGP 2.90 — pushing the company’s market cap to some EGP 3.3 bn, according to market data.

Remember: Act Financial last week completed the first IPO Egypt has seen in a year, offeringsome 32% of the company — 360 mn shares — to investors. The retail tranche of the IPO was 54.8x covered, while the institutional tranche was 20.2x oversubscribed, the highest oversubscription for private offerings on the EGX in six years. All in all, the combined offering was 26x oversubscribed, the company said (pdf).

What’s next? Act Financial plans to use the EGP 1 bn raised from its IPO to invest into three EGX-listed companies this year, Managing Partner Mostafa Abdel Aziz told Enterprise earlier this month. The company is also exploring potential investments in six non-listed local companies with the hopes of eventually listing them on the EGX.

M&A WATCH-

MNT-Halan enters the Turkish market: Fintech leader MNT-Halan has fully acquired Turkish commercial finance company Tam Finans from Actera Group. The company did not disclose the terms of the transaction, which will see MNT-Halan take over Tam Finans’ USD 300 mn loan book.

MANUFACTURING

El Araby to partner with Sharp on fridge and freezer manufacturing: El Araby Group and Japan’s Sharp will set up a USD 50 mn factory in the Quweisna zone for the manufacture of refrigerators and deep freezers under a newly-inked partnership agreement that will see the two companies set up a JV in which El Araby will have an 80% stake and Sharp 20%.

AROUND THE WORLD IN SEVEN DAYS-

The ripple effect of Israel’s continued assault on Gaza were front and center of the int’l press this week, most notably with the announcement that Ismail Haniyeh, Hamas’ top political leader, had been assassinated in Tehran while attending the swearing-in ceremony of Iran’s new president.

Tensions on the Israel-Lebanon border were also in the headlines after a Saturday strike on the Israeli-occupied Golan Heights killed 12 children, spurring fears of escalation into broader regional war. Israel attributed the strike to Hezbollah and retaliated by bombing a southern suburb of Beirut on Tuesday, claiming it had killed a senior Hezbollah advisor. Three Lebanese civilians died in the Israeli attack, including two children.

While on the US elections front, US vice president and Democratic Party candidate Kamala Harris drew level with Republican nominee Donald Trump in a number of recent polls. Harris is set to announce her running mate as early as next Monday before a multi-state battleground tour later next week.

Harris’ crypto industry charm offensive also turned heads: Harris’ campaign advisors have contacted a number of crypto firms to attempt to “reset” relations between the party and the crypto sector at large, as the Harris campaign looks to mend relations with the industry following its criticism of the Biden administration. But the sector already has a favorite candidate, with Trump enjoying significant support from the crypto industry, appearing as the keynote speaker at the BTC 2024 gathering, where he promised to fire the head of the US Securities and Exchange Commission if he returns to the White House.

☀️ THE WEATHER THIS WEEKEND- Yet another hot weekend with highs of 38°C and lows of 27°C today followed by highs of 37°C and lows of 26°C tomorrow in Cairo. It’s a bit cooler in Sahel with highs of 32°C and lows of 24°C during the weekend.

HAPPENING THIS WEEKEND-

The interactive comedy show where the audience gets a moment to shine. Attend AinGamal Vol.22 with Omar El Gamal to witness the comedian’s quick wit and clever remarks. The show will take place tomorrow starting at 8pm at Theatro Arkan. Get your tickets here.

Sukun is taking wellness to new heights with their Cosmic Festival at Solare, Ras El Hikma today. The festival has an itinerary of good-for-the-soul activities like yoga, sound healing, breathwork, art, dance, and more — you can even bring the kids for some seaside fun too. Get your invite here.

You can still catch Ahmed Helmy on stage in Memo. If you missed the Egyptian comedy icon’s first few shows of his original play, he will be performing once again tonight (tickets) at the Grand Nile Tower.

A night of good music. Book tickets for Cords Festival: Ruby & Aziz Maraka at One Eleven in New Alamein. The festival will take place tonight starting at 10pm, where musical staple Aziz Maraka and the iconic Ruby, will perform.

For the love of poetry. Don’t miss the Live Podcast evening with poet Mostafa Ibrahim and host Zahra Ramy at Rawabet Art Space in Downtown, tonight at 9pm. Book your spot here.

Ma Yatloboho Al Mostame3oon in Sahel: Esseily and Ahmed Saad will perform at Cairo Jazz Club Sea Shore in Ras Al-Hikma, tonight, followed by Disco Misr and DJ Anis. The event will begin at 9pm. Grab tickets here.

Superstar Mohamed Ramadan will perform a concert at Porto Golf in the North Coast tonight at 10pm. Grab tickets here before they sell out.

Ramy Gamal will also be gracing the North Coast for the festival tonight at 10pm. Grab your tickets here.

HAPPENING NEXT WEEKEND-

Amr Diab will be taking the New Alamein Festival stage on Friday, 9 August at 10pm. Get your tickets here.

Karim Abdelaziz and Nelly Karim will be performing in the play El Sindbad at the New Alamein Festival from Thursday, 8 August till Saturday, 10 August. Get your tickets here.

TV host Sherif Madkour and Lebanese actress and singer Diana Haddad will be having a live broadcasting of the show “4 Sherif Street” at the New Alamein Festival on Saturday, 10 August. The show will start at 10pm, get your tickets here.

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THE ENTERPRISE GUIDE

Say ‘I do’ to these venues when planning your wedding

Searching for a wedding venue is like trying to find a needle in a haystack… if the haystack was made of unavailable dates and unreasonable prices. The venue is the foundation of a great event — it sets the tone and the stage (sometimes literally) for an occasion that leaves a lasting impression. So, whether you’re looking for something timeless, something boho chic, or looking for somewhere a plane- or train-ride away, we’ve got you covered.

CLASSICAL VENUES: There’s no shortage of tried and true locations. These picks don’t need an introduction, but they do need a trigger warning when it comes to prices.

#1- NILE RITZ: The Nile Ritz ’s striking glamor comes with a matching budget.

THE PACKAGE: The price tag comes with a two-night complimentary accommodation for the bride and a prep room for the groom. You also get a five layer wedding cake, and an in-room special dinner for the bride and groom on the night of the wedding. If needed, they can provide you with planning services, but there is the BYOWP (Bring Your Own Wedding Planner) option too. Attending friends and family will get a special quote for their stay, and 10+ guest room bookings will unlock a group rate.

CAPACITY: The Alf Leila w Leila ballroom takes up to 600 guests. If you want a bigger wedding, the Al Qahira ballroom will accommodate up to 1.2k guests. Going smaller? The room can be divided. If you prefer an outdoor space, their Garden City venue can take up to 1k guests.

PRICE: The bottom line is based on the number of attendees, ranging from EGP 3k to 3.5k per person. Luckily, the bill can be delivered in three shallow(er) cuts: A 10% deposit upon signing of the contract, 40% three months before the event, and 25% a month before the event.

NOTE- The earlier you book the better, and not just for availability reasons — there also will be a price increase starting 2025.

#2- LE LAC DU CAIRE: Want some more room for imagination? Le Lac Du Caire offers you a beautiful location ripe for customization…

THE PACKAGE: …But that’s all they offer. The space is all you purchase with your credit card. Catering, setup, equipment, and decorations are all left to you and your wedding planner.

CAPACITY: From 300 to 700 attendees.

PRICE: You can pick between two venues, one with a price tag of EGP 320k, and the other for EGP 370k.

#3- CITADEL SALAH EL DIN: The iconic monument of Islamic Cairo has become a fast favorite in the event industry, the dreamy aesthetic making for a memorable venue to the recently hitched and coveted one for the soon-to-be-hitched.

THE PACKAGE:The venue offers you one of four venues of your choosing, as well as included transportation to and from the parking area. You’ll need it, trust us. You’ll have to BYOWP for catering, setup, equipment, and decorations.

CAPACITY: There are four venues of increasing capacity — Dar Al-Darb allows up to 300 guests, Yussuf’s Well can accommodate up to 500, the Police Museum Plaza can fit 700 people, and Al Mahka can take up to 900 attendees.

PRICE: The price depends on the venue you choose, as well as the official number of attendees. This choice will end up costing you between EGP 110k to EGP 360k — insurance and security fees included.

NOTE- Prices are subject to change, especially going into the new year.

GARDEN VENUES: Tie the knot amidst a lush garden filled with blooming flowers for a fairytale ending.

#1- AMERICAN GARDENHALL: The resort has a beautiful hall with large windows overlooking a lush garden. Many choose to have the ceremony outside, but an indoors venue is also available.

THE PACKAGE: The venue will provide the couple with two suites to get ready in for their big day — one for the bride, and one for the groom. No need to BYOWP for this one — for a fee, they will happily assist you with the wedding planning. If you’d rather do things your own way, you’ll have to provide catering, setup, equipment, and decorations.

CAPACITY: Up to 300 attendees.

PRICE: The bottom line ultimately depends on the size of your guest list, and will range from EGP 100k to 150k.

NOTE- The minimum advance notice for booking is three months, but we’d advise you to book as early as possible.

#2- BAYT AL MANSOUREYA: Influencers have flocked to this venue, scrambling to book it not only for its charm but also because it’s only available for two days a month.

THE PACKAGE: Bayt Al Mansoureya offers two suites for the couple, an external generator, sound system, and valet parking service. The rest — catering, setup, equipment and decorations — is in your hands.

CAPACITY: The space can fit up to 500 attendees.

PRICE: The range depends on the official number of guests. 100 attendees will run you EGP 120k, and 500 guests will cost you EGP 160k.

NOTE- Unfortunately, the venue is fully booked for the rest of this year. The only available dates for 2025 are during June and August, so snag a booking while you can.

#3- NŪT ORABI: In the agricultural compound of Ahmed Orabi in Obour is a farm lodge boutique hotel that will cater to your dream rustic wedding.

THE PACKAGE:The price tag encompasses the whole lodge, which includes one suite, two double bedrooms, an open air kitchen, dining and grilling areas, gendered bathrooms, an amphitheater/fire pit area, a kitchen for catering, and two parking lots with valet service. Like venues before them, it’s down to you to bring the catering, setup, equipment, and decorations.

CAPACITY: Up to 350 attendees.

PRICE: If you’re inviting 40-200 guests, the flat rate is EGP 160k. For any more up to 350, prepare to shell out EGP 180k.

DESTINATION VENUES: You don’t need to travel far to have a destination wedding.

#1- LAZIB INN, FAYOUM: If you’re looking for a venue that has a rustic charm and is a bit out-of-the-box — Fayoum is the place to go.

THE PACKAGE:The venue’s price tag comes with an accommodation of 18 suites. A beverage package is also provided, offering unlimited soft drinks. Additionally, if the newlyweds want to set up prior to the wedding or cool off after, they can extend their stay by one day before or after at a discounted rate of 20%. You might have to BYOWP to this one, especially for catering if your guestlist contains more than 100 people.

CAPACITY: The site can take up to 400 attendees if needed, but the hotel recommends 300 to avoid overcrowding.

PRICE: Ranges from EGP 470k for 100 invitees to 530K for 250 invitees.

NOTE- In what may be good news for some wedding-goers, under governmental instructions the wedding must end at 10pm.

#2- TANOAK, SOKHNA: Whether you missed the chance to book a Sahel venue or think that trend is so last year, Sokhna is a great option for a getaway wedding.

THE PACKAGE:A two-night stay at junior suite comes with the price tag, doubling up as the prep room for the bride the day of. The groom gets a day-use room to prep, and for the loved ones attending, a special rate. BYOWP, but don’t worry about catering. You just have to worry about the setup, equipment, and decorations.

CAPACITY: Up to 1k attendees.

PRICE: Their prices differ based on different menu packages, number of attendees, and which day of the week the wedding is. Expect a range of EGP 762k to EGP 1.2 mn.

#3- BENBEN, ASWAN: This small boutique hotel has the most stunning gardens along the bank of the Nile River — but every good thing must come at a price… and this venue comes with a hefty one.

THE PACKAGE: The price tag comes along with a full buffet for 2.5 hours, unlimited soft drinks, and corkage fees. No need to BYOWP, two planning options are available — The base package includes basic services — seating, decoration, flowers, photography, DJ, sound and light, and catering equipment — and an additional package includes videography, a Nubian Zaffa, bar arrangements, two dinner events, hair and makeup, and two extra nights in the bridal suite. Free shuttle boat transportation is provided.

PRICE: Prices start from EGP 2 mn for a minimum of 120 people.

NOTE- But all good things must come to an end. To book the venue, and exclusive of the price tag, all 24 rooms must be booked by attendees at a rate determined according to the date of the wedding. If you decide to BYOWP, they must be staying at the hotel for a minimum of three nights, and they will only have access to the venue after 12:00 pm.

CAPACITY: There is no limit, and with a price tag like that, we’d encourage you to invite as many people as you can.

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WHAT ARE YOU UP TO THIS WEEKEND?

The superhero combo we knew we needed

📽 AT THE MOVIES-

Marvel fans have been waiting for this moment all year. Deadpool and Wolverine, the latest installment in the MCU (and perhaps a hint of what’s to come), juggles two reluctant anti-heroes — Deadpool (Ryan Reynolds) and Wolverine (Hugh Jackman) — as the MCU dives headfirst into the multiverse.

Wade Wilson is your average joe. He toils in an average civilian life in a job selling used cars, and his Deadpool days are behind him… Until The Time Variance Authority (TVA) offers him a spot among The Avengers in a different timeline for an opportunity to “finally matter.” Instead of taking them up on their offer, Wilson decides to do what he does best — Deadpool all over everyone’s plans.

The contrast between Deadpool and Logan creates a unique comedic chemistry. Watching the wisecracking Deadpool and the somber no-frills Wolverine trying to get along to save the universe from extinction is an entertaining journey that filled the movie theater with laughter more than once, reminding all of us with superhero fatigue what we loved about the MCU in the first place.

It’s not an entry level Marvel movie. The concept of the multiverse enables an avalanche of cameo appearances that brought the audience to cheers, and references that only diehard fans can recognize. From forgotten 2000s superheroes to Wolverine variants, and a certain long-rumored Lady Deadpool, this film is full of surprises.

WHERE TO WATCH- You can watch Deadpool and Wolverine at VOX cinemas at City Center Almaza and Mall of Egypt, Cairo Festival City cinema, Point 90 Cinema, and Cima Arkan. Watch the trailer here (runtime: 2:38).


What do you do when you realize that the psychiatric patient you helped release from prison is your wife’s ex? Ex Merati ’s cast brings Hesham Maged, Mohamed Mamdouh, and Amina Khalil together for the first time in a delightful satirical comedy directed by Moataz El Tony — known for El Le’ba and Samir, Shahir, and Bahir.

The Plot: Youssef (Hesham Maged), a psychiatrist, has been assigned to conduct a psychological evaluation on Taha (Mohamed Mamdouh), a criminal, to determine if his behavior has improved and is fit to be released. After authorizing Taha’s release, Youssef is shocked to learn that Taha was once married to his current wife Sahar (Amina Khalil) — who divorced him after he was imprisoned — and is the father of her only son.

Things take a turn for the worse: Taha becomes solely focused on finding and rekindling his relationship with Sahar, while Youssef tries to sabotage his efforts while pretending to be his friend to avoid his wrath.

Maged and Mamdouh make a dynamic duo on screen, and it proves to be a great success, as their comedic presence is natural and unforced. Even though the concept and storyline might not be unique — we see some similarities to Daddy’s Home — the series of comedic situations and paradoxes in which the main characters find themselves offers ample opportunities for humor. It’s an enjoyable and light-hearted watch perfect for the summer season.

WHERE TO WATCH- You can watch Ex Merati at VOX Cinema at City Centre Almaza, Mall of Egypt, and Alexandria, City Stars Cinema, Cairo Festival City Cinema, Point 90 Cinema, and Arkan Cinema. Watch the trailer (runtime 2:17).

📚 FROM THE BOOKSTORE-

Remembering tomorrow in Memory Piece, a compelling exploration of memory, friendship, and the enduring struggle for integrity in a rapidly changing world. Through the intertwined lives of Giselle Chin, Jackie Ong, and Ellen Ng, writer Lisa Ko crafts a narrative that spans decades and delves into the complexities of personal and societal transformation.

The narrative opens with Giselle embarking on her ambitious durational artwork, Memory Piece, in 1996. She diligently records her memories for a year, only to burn them upon completion. Yet, Ko’s novel preserves these memories, serving as a testament to the power of remembrance.

The story unfolds through three distinct sections, each focusing on one of the main characters. Giselle’s narrative follows her rise as a performance artist in 1980s New York, while Jackie navigates the tech industry’s boom in the late 1990s, creating a platform for digital self-archiving.

However, it’s the leap forward to the dystopian 2040s that marks the novel’s departure. Here, Ellen confronts a world reshaped by economic disparity and authoritarian rule. Forced to abandon her home in Manhattan due to gentrification, Ellen grapples with the harsh realities of a society divided by wealth and surveillance.

Despite its darker themes, it offers glimpses of hope and resilience. The idea of creating an archive to document the past and inspire future generations serves as a beacon of light in an otherwise bleak landscape, suggesting that even in the face of adversity, the power of memory and imagination endures.

The novel is currently out of stock at Cherry Blossom Books, but you can find it on Amazon.

🍴 HOT AND FRESH OUT OF THE KITCHEN-

Low-calorie ice cream and fro-yo? Yolé, a Spanish dessert store with branches around the world, is open across seven locations in Egypt. Yolé uses gluten-free ingredients with no added sugar, as well as vegan options for those of us who want to indulge in a satisfying dessert while keeping an eye on our macros. You can choose from a range of flavors, toppings, and additions.

If you’re feeling a little extra, you can add anything from pineapple, mango, and other seasonal fresh fruits to granola, nuts, and a variety of sauces on your soft-serve fro-yo. You can also make your pick of a cup, cone, or a soft and crispy bubble waffle cone. Our personal favorite was The Ibiza, which includes your choice of one fruit, one crunchy ingredient, and one sauce topping. Make sure to also check out Yolé drinks including Boba and iced frappés.

WHERE TO FIND THEM- You can now head out for a sweet treat in Cairo at the Open Air Mall in Madinaty, Mall of Egypt, The Drive by the Waterway, and Majarrah in Sheikh Zayed or in Sahel at Marassi, Seashell, and Amwaj.

💵 Per person: EGP 100-250

🪑 Outdoor seating: Yes

🍺 Alcohol: No

🦽 Accessibility friendly: Yes

This publication is proudly sponsored by

From OUR FAMILY to YOURS
From OUR FAMILY to YOURS
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PASS THE CONTROLLER

The best strategy game you’ve never heard of

Solium Infernum is the best strategy game you’ve never heard of. Despite being a top-tier 4X game, 2024 has been packed with hit after hit blockbusters that may have drowned out some of the smaller games that are just as deserving of the spotlight. But we’re here to put you onto one of the most fun games we’ve come across this year.

Lucifer has gone missing, and a power vacuum is tearing through Hell. As one of the eight all-powerful (and power hungry) Archfiends, you have the chance to play the devilish game of politics and claim your crown as the ruler of Hell.

This is a turn-based game, meaning that all of your decisions matter. An insult can lead to war, a bad ally can mean death, and the right play might clinch you the crown. Instead of hordes and armies, the weapons you have at your disposal are diplomacy, backstabbing, and black magic.

Play with friends… At your own risk. Playing against other people is the best experience. There is an online multiplayer option, but where’s the fun if you can’t watch real-life friendships crumble? It fits the theme. Up to six players can join campaigns that may take days or weeks to play out. If you pick the 70-turn option, prepare to spend potential years fighting for the crown.

💯 Rating: 9/10 on Steam.

⌛ Hours of gameplay: Depends on how long your campaign lasts.

🔁 Replay value: 10/10.

👾 Platforms: Steam for PC.

💵 Price: USD 18.99.

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WHAT TO LISTEN TO

A podcast for all the armchair intellectuals

Part-time joker, Part-Time Genius: This podcast is your go-to for diving into quirky and captivating topics with a side of humor. Hosts Will Pearson and Mangesh Hattikudur have a knack for turning the everyday into something fascinating. From pondering how we might one live without sleep to unraveling the tricks of clever rats, their discussions are both amusing and enlightening.

Did Picasso try to Steal the Mona Lisa? Will and Mangesh tackle art’s greatest enigmas. Ever wondered why this famous painting has such a sly smile and no eyebrows? Or how Picasso ended up being investigated for its theft? The hosts dive into these intriguing questions, peeling back layers of mystery with their signature wit and curiosity. They explore how the Mona Lisa became a global icon and what makes her so endlessly fascinating.

If you’re into discovering fun facts and exploring quirky questions, you’re in the right place: Will and Mangesh’s conversational style makes every episode feel like a lively chat with friends, turning trivia into engaging stories that’ll leave you both entertained and informed.

WHERE TO LISTEN- You can find the podcast on Apple Podcasts, iHeart, Spotify, Soundcloud, Audible, and Global Player.


AUGUST

16 July-15 October (Tuesday-Tuesday): In the Company of Mahmoud Said exhibition at Aisha Fahmy Palace.

11 June-2 September (Tuesday-Monday): Afashat w Aflam exhibition at Bibliothek.

11 July-30 August (Thursday-Friday): New Alamein Festival at North Coast.

18 July-10 August (Thursday-Saturday): Summer Music Festival at the Cairo Opera House.

2 August (Friday): Ramy Gamal at New Alamein Festival.

2 August (Friday): Mostafa Ibrahim Live Podcast at Rawabet Art Space.

2 August (Friday): Mohamed Ramadan concert at Porto Golf.

2 August (Friday): Cords Festival: Ruby & Aziz Maraka at One Eleven.

2 August (Friday): Live Podcast at Rawabet Art Space Downtown.

2 August (Friday): Cosmic Festival at Solare.

3 August (Saturday): Founders Live at MINT Incubator by EGBANK.

4-6 August (Sunday – Tuesday): Edugate 2024 at Royal Maxim Palace Kempinski.

4 August (Sunday): Comedy Kiosk at Rawabet Art Space.

8-10 August (Thursday-Saturday): El Sindbad at the New Alamein Festival.

9 August (Friday): Amr Diab at New Alamein Festival.

9 August (Friday): Wael Kfoury concert at Porto Golf.

23 August (Friday): Cairokee at New Alamein Festival.

SEPTEMBER

15 September (Sunday): National holiday in observance of Prophet Muhammad’s birthday (TBC).

OCTOBER

6 October (Sunday): Armed Forces Day.

29-30 October (Tuesday-Wednesday): Intelligent Cities Exhibition & Conference (ICEC) at Waldorf Astoria.

DECEMBER

14 December (Saturday): The Marakez Pyramids Half Marathon.

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