{"id":551647,"date":"2022-07-05T13:53:22","date_gmt":"2022-07-05T13:53:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=551647"},"modified":"2025-12-15T23:28:10","modified_gmt":"2025-12-15T23:28:10","slug":"its-official-were-all-getting-one-week-off","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/its-official-were-all-getting-one-week-off\/","title":{"rendered":"It\u2019s official: We\u2019re all getting one week off."},"content":{"rendered":"<section id=\"551649\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"551649\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TONIGHT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/tonight-sodic-wants-mnhd-cbe-gives-banks-a-week-off-and-issues-new-egp-10-note-also-el-sisi-ratifies-budget\/\">\r\n                            TONIGHT: SODIC wants MNHD + CBE gives banks a week off and issues new EGP 10 note. ALSO: El Sisi ratifies budget                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/tonight-sodic-wants-mnhd-cbe-gives-banks-a-week-off-and-issues-new-egp-10-note-also-el-sisi-ratifies-budget\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/tonight-sodic-wants-mnhd-cbe-gives-banks-a-week-off-and-issues-new-egp-10-note-also-el-sisi-ratifies-budget\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/tonight-sodic-wants-mnhd-cbe-gives-banks-a-week-off-and-issues-new-egp-10-note-also-el-sisi-ratifies-budget\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=TONIGHT: SODIC wants MNHD + CBE gives banks a week off and issues new EGP 10 note. ALSO: El Sisi ratifies budget&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/tonight-sodic-wants-mnhd-cbe-gives-banks-a-week-off-and-issues-new-egp-10-note-also-el-sisi-ratifies-budget\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/tonight-sodic-wants-mnhd-cbe-gives-banks-a-week-off-and-issues-new-egp-10-note-also-el-sisi-ratifies-budget\/&title=TONIGHT: SODIC wants MNHD + CBE gives banks a week off and issues new EGP 10 note. ALSO: El Sisi ratifies budget\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=TONIGHT%3A+SODIC+wants+MNHD+%2B+CBE+gives+banks+a+week+off+and+issues+new+EGP+10+note.+ALSO%3A+El+Sisi+ratifies+budget+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F05%2Ftonight-sodic-wants-mnhd-cbe-gives-banks-a-week-off-and-issues-new-egp-10-note-also-el-sisi-ratifies-budget%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/tonight-sodic-wants-mnhd-cbe-gives-banks-a-week-off-and-issues-new-egp-10-note-also-el-sisi-ratifies-budget\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551649\" class=\"content-area-description single-story post-551649 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-enterprisepm tag-fy2022-2023-budget tag-house-of-representatives tag-what-were-tracking-tonight wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It\u2019s two more working days until the weekend<\/strong>, ladies and gentlemen, and boy are we smiling at this next nugget\u2026<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Get your banking needs taken care of by Thursday:<\/strong> The private sector workers will be off on 9-14 July for Eid Al Adha, the Manpower Ministry announced in a <a href=\"https:\/\/tinyurl.com\/vd2fhc97\">statement<\/a>. This follows an <a href=\"https:\/\/ent.news\/2022\/7\/cbe-eid.pdf\">announcement (pdf)<\/a> earlier in the day from the central bank that banks will be off during the same period. Banks will open for business on Sunday 17 July. Public sector workers <a href=\"https:\/\/bit.ly\/3uptfS0\">were given<\/a> off on 9-14 July yesterday.<\/p>\n<p><strong>And while we\u2019re on banks, we\u2019re welcoming a new EGP 10 polymer banknotes, <\/strong>which were released by the CBE today. Apart from the neat design, the new banknotes (which you can see above) are more durable, robust and resistant to damage from dirt and moisture. More importantly, the bills are cheaper to make, a <a href=\"https:\/\/ent.news\/2022\/7\/CBE-polymer.pdf\">statement (pdf)<\/a> by the CBE read.<\/p>\n<p><strong>You can get your hands on the news notes through your local bank. <\/strong>The old paper banknotes, however, are still valid and available, the statement said.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>THE BIG STORY TODAY- <\/strong><strong>Blast from the past: SODIC wants MNHD (again).<\/strong> Leading real estate developer SODIC has submitted a non-binding offer to acquire up to 100% of EGX-listed Madinet Nasr Housing and Development (MNHD) in a potential all-cash acquisition, the developer said in a <a href=\"https:\/\/ent.news\/2022\/7\/%D8%B3%D9%88%D8%AF%D9%8A%D9%83-%D9%85%D8%AC%D9%84%D8%B3-05-07-2022.pdf\">disclosure to the EGX (pdf).<\/a> SODIC offered to acquire the developer through a mandatory tender offer at a price range of EGP 3.2-3.4, a 32% premium on its share price at yesterday\u2019s close. The mid-point of the range of EGP 3.30 values the company at EGP 6.18 bn.<\/p>\n<p><strong>The transaction has done wonders for their respective share prices:<\/strong> MNHD was the EGX30\u2019s top performer today as its shares rose 8% to EGP 2.7 on the news. Meanwhile, SODIC\u2019s shares rose 0.82% to EGP 11.10.<\/p>\n<p><strong>^^We\u2019ll have more on this story and others in tomorrow\u2019s EnterpriseAM. <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>HAPPENING NOW- President Abdelfattah El Sisi has ratified the FY2022-2023 budget, <\/strong>after the House of Representatives gave it the stamp of approval earlier this month, state news agency MENA reports. The FY2022-2023\u2019s final spending plan is unchanged from the one Finance Minister Mohamed Maait and Planning Minister Hala El Said presented to the House <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59023cb0-be71-414c-9041-8118c08c2965\">in May<\/a>, despite MPs raising concerns about borrowing plans, social safety net allocations, and the government\u2019s forecasted wheat and oil prices.<\/p>\n<p><strong>ALSO- <\/strong><strong>Public consultations on<\/strong><strong> the state\u2019s privatization plans for the <\/strong><strong>transportation sector began today. <\/strong>Every Sunday and Tuesday see workshops discussing the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0894c99e-e18e-473e-a869-64812c50988b\">state ownership policy document<\/a> and how privatization plans will affect specific industries. You can find more details on the schedule of the meetings <a href=\"https:\/\/bit.ly\/3noxSrm\">here<\/a>.<\/p>\n<p><strong>Meanwhile, t<\/strong><strong>he national dialogue kicked off today<\/strong>, with the 19-member board of trustees running the process convening its first meeting, according to <a href=\"https:\/\/gate.ahram.org.eg\/News\/3593751.aspx\">Ahram Gate<\/a>. Board members include lawmakers, journalists, and political and economic experts.<\/p>\n<p><strong>Need a refresher on the national dialogue?<\/strong> You can read our explainer <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/618da10f-a3ed-44b3-92e6-b25ee5ff7eae\">here<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><strong>THE BIG STORY ABROAD-<\/strong> <strong>Highland Park Independence Day Parade shooting suspect in <\/strong><strong>custody:<\/strong> Law enforcement arrested a 22-year-old-man as a suspect in a deadly shooting on an Independence Day parade in the Chicago suburb of Highland Park that saw at least six killed and over 36 wounded, <a href=\"https:\/\/www.bbc.com\/news\/world-us-canada-62045932\">BBC<\/a> reports. Police apprehended the suspect, Robert E. Crimo III, yesterday in nearby Lake Forest after a brief chase.<\/p>\n<p><strong>** CATCH UP QUICK <\/strong>on the top stories from today\u2019s <strong>EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong>Gov\u2019t beats FY2021-2022 budget deficit target: <\/strong>The budget deficit <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/754262b4-f1df-4206-b9c2-f8bf1868c135\">narrowed<\/a>to 6.1% of GDP in FY2021-2022 from 7.4% the year before, coming in significantly below the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f10ef3d-eec0-4f11-a112-c1dee1ee9780\">6.7% target<\/a> in the state budget.<\/li>\n<li><strong>GASC in talks to purchase wheat directly from suppliers:<\/strong> GASC is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b147f438-4d58-454e-b045-87596df31d59\">looking to purchase<\/a> wheat directly from commodity traders outside the normal tender process, and is inviting offers from trading houses for an undisclosed amount of wheat for shipment in September and October.<\/li>\n<li><strong>Is climate change threatening our honey industry? <\/strong>Honey production <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ff94498e-7cd2-4b27-8aba-17a38a0d9451\">is on the decline<\/a> as changes in temperature \u2014 among other climate change woes \u2014 begin to affect honey bee activity.<\/li>\n<\/ul>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>FOR TOMORROW-<\/strong><\/p>\n<p><strong>The House goes on its summer recess tomorrow, <\/strong>with the legislature scrambling to get as many bills approved as possible today. The House gave a final approval to government-drafted amendments to the<strong> Consumer Finance Act<\/strong> aimed at providing greater fraud protections to consumers.<\/p>\n<p><strong>Anti-money Laundering Act given the nod: <\/strong>The House also gave final approval to government-drafted amendments to the 20-year old Anti-money Laundering Act<strong>.<\/strong> The changes would create an anti-money laundering unit at the central bank, handing it greater powers to investigate money laundering and terrorism financing. We\u2019ll have more ont he day\u2019s happenings in tomorrow\u2019s EnterpriseAM.<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>The fuel pricing committee<\/strong><strong> could meet this week to review fuel prices<\/strong> for the third quarter.<\/p>\n<p>Other news triggers to keep an eye on this month:<\/p>\n<ul>\n<li><strong>PMI:<\/strong> Data measuring activity in Egypt\u2019s non-oil private sector will drop tomorrow, Wednesday, 6 July.<\/li>\n<li><strong>Foreign reserves:<\/strong> Foreign reserves figures will be out sometime this week.<\/li>\n<li><strong>Inflation:<\/strong> Inflation data for June will likely land as early as this week.<\/li>\n<\/ul>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>Expect temperatures to rise to 39\u00b0C during the day tomorrow before falling to 23C at night, our favorite weather app tells us.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fy2022-2023-budget\/\">FY2022-2023 budget<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-tonight\/\">WHAT WE\u2019RE TRACKING TONIGHT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"551650\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"551650\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/551650\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551650\" class=\"content-area-description single-story post-551650 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/palmhillsdevelopments.com\/OurDevelopments\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/CLeo-enterprise-1600px-02-1.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"551651\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"551651\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">FOR YOUR COMMUTE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/bnaire-tears-are-sweet-solace-calories-vs-carbon\/\">\r\n                            Bn\u2019aire tears are sweet solace + Calories vs carbon                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/bnaire-tears-are-sweet-solace-calories-vs-carbon\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Jeff Bezos\u2019 fortune took a USD 63 bn tumble, but remains the second wealthiest person in the world.<\/p>\n<p><strong>The worst of a bad bunch: <\/strong>Mark Zuckerberg lost more than half of his net worth, and dropped to the 17th spot on the wealth list with a USD 60 bn fortune.<\/p>\n<p><strong>Bn\u2019aires are likely looking for bargains to help cushion the blow,<\/strong> according to the President of Papamarkou Wellner Asset Management. We\u2019ve seen this happen in 1H2022, with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f5018b4b-ea8e-4953-89a5-58d74fcaa37b\">Musk attempting to buy Twitter<\/a> and Vladimir Potanin (Russia\u2019s richest man) <a href=\"https:\/\/www.google.com\/url?q=https:\/\/www.ft.com\/content\/681cbb78-95d5-428e-85b0-00abf2383e42&sa=D&source=docs&ust=1657030493644097&usg=AOvVaw2cR4EZaBjD9s0uMD7r1e7C\">acquiring<\/a> Societe Generale SA\u2019s entire stake in Rosbank PJSC.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Calories vs carbon: What would you give up if you knew the emissions it produces? <\/strong>With food production contributing around one third of global greenhouse gas, many consumers are now looking to shift towards more clean, sustainable eating habits, according to the <a href=\"https:\/\/ig.ft.com\/carbon-food-labelling\/\">Financial TImes<\/a>. A majority of consumers in the UK, US, and Europe were supportive of potentially introducing carbon labels on food items, according to a survey by <a href=\"https:\/\/www.carbontrust.com\/news-and-events\/news\/2020-consumer-research-shows-sustained-support-for-carbon-labelling-on\">Carbon Trust<\/a>.<\/p>\n<p><strong>Denmark could soon become one of the first countries to develop carbon labeling<\/strong>, earmarking USD 1.3 mn to come up with a suitable proposal by the end of the year. This means that we may soon start seeing emission information on the food we buy, next to the nutrition and calorie facts. Some companies have already started printing carbon labels on their products, such as Oat milk company Oatly and plant-based food group Quorn.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/for-your-commute\/\">FOR 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class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-gksyn9e\" data-v=\"4\" data-block-id=\"gksyn9e\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-gksyn9e-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-gksyn9e-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240936.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/cira.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27480.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Shaping the future of education in Egypt<\/span>\r\n   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   <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">ENTERPRISE RECOMMENDS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/when-life-gets-tough-for-bnaires-maya-rudolph-shines-in-new-comedy-loot\/\">\r\n                            When life gets tough for b\u2019naires: Maya Rudolph shines in new comedy Loot                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/when-life-gets-tough-for-bnaires-maya-rudolph-shines-in-new-comedy-loot\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/357.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"551655\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/when-life-gets-tough-for-bnaires-maya-rudolph-shines-in-new-comedy-loot\/357-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/357.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"357.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/357.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/357.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551654\" class=\"content-area-description single-story post-551654 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-recommends-2 tag-eat-this-tonight tag-enterprise-recommends tag-enterprisepm tag-on-the-tube-tonight wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT-<\/strong><br \/> (all times CLT)<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Is Apple trolling Jeff Bezos in <\/strong><strong><a href=\"https:\/\/tv.apple.com\/us\/show\/loot\/umc.cmc.5erbujil1mpazuerhr1udnk45\">Loot<\/a><\/strong><strong>?<\/strong> The new Apple TV+ comedy series centers around Molly (played by Maya Rudolph), a scorned wife embarking on a new chapter after her tech gazillionaire husband cheats on her (<a href=\"https:\/\/www.youtube.com\/watch?v=ktzAq7wjJgs\">watch, runtime 2:27<\/a>) The upside: Molly emerges from their divorce with USD 87 bn, giving us very Bezos-McKinzie divorce vibes. The first episode sets the extravagant scene by giving us a glimpse at the couple\u2019s ridiculously lavish lifestyle, including a spare swimming pool for their dogs, a full-time crepe chef, and a guest appearance by Seal. It then gives way to more sentimental antics when Molly discovers she owns a charity, where she takes the helm and starts learning how to give back.<\/p>\n<p><strong>Loot is just self-aware enough<\/strong> to make Molly\u2019s attempts to become a better b\u2019naire funny rather than gross. And we\u2019ve been here for everything Maya Rudolph since the good old days of <a href=\"https:\/\/www.imdb.com\/title\/tt1478338\/\">Bridesmaids<\/a> \u2014 plus this comes to us from <a href=\"https:\/\/screenrant.com\/loot-season-1-alan-yang-matt-hubbard-interview\/\">two of the geniuses<\/a> who made Parks and Recreation.<\/p>\n<p>\u26bd <strong>Gouna faces Al Ahly <\/strong>in the Egyptian League at 9 pm today, and Smouha will play against Kafr El-Sheikh at 6pm in the Cup\u2019s round of 16.<\/p>\n<p><strong>?EAT THIS TONIGHT- <\/strong><\/p>\n<p><strong><a href=\"https:\/\/www.instagram.com\/twospoonsegypt\/?hl=en\">Two Spoons<\/a><\/strong><strong> brings shareable comfort food to New Cairo: <\/strong>This casual diner in Cloud Nine Mall in New Cairo is offering warmth and comfort \u2014 not to mention a whole lot of carbs. Open from 8am-1am, the menu spans every meal of the day \u2014 but it\u2019s the homemade bakeries and in particular the bagels that will reel you in. If you\u2019re doing some morning shopping, be sure to try their signature smoked salmon benedict or the veggie omelet avocado tray. For a fresh and filling lunch, the classic combination of soup and salad always does the trick \u2014 we recommend the hearty potato soup and the fresh, colorful cobb salad. Or if you haven\u2019t had your fill of carbs, try creating your own deli sandwich with your choice of house-baked bread, fillings, topping, and dressing\u2026 and top it all off with some Nutella pancakes. Not in the mood for food? The coffee\u2019s pretty good, too.<\/p>\n<p>? <strong>OUT AND ABOUT-<\/strong><br \/> (all times CLT)<\/p>\n<p><strong>Warm up your vocal chords tonight at <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/826962501527229\/979649076258570\/\">Room Garden City<\/a><\/strong><strong>:<\/strong> Karaoke night is back at Room Art Space and Cafe from 8pm to 10pm, this Tuesday and every Tuesday.<\/p>\n<p><strong>If you\u2019re not keen on singing yourself, <\/strong>catch the Nouran Band of heritage singers at a concert organized by the Bibliotheca Alexandrina at <a href=\"https:\/\/www.facebook.com\/events\/546748833822914\/\">Bayt Al Sinnari cultural center<\/a> in Sayeda Zainab. The band keeps the tradition of mawawil and muwashahat singing alive. Entry is without charge on a first-come, first-served basis, and the concert starts at 7pm.<\/p>\n<p><strong>In more of an Oud mood? <\/strong>Instrumentalist composer and Oud player Aly Eissa is creating his signature \u201cversatile and twisted meditative atmospheres\u201d at <a href=\"https:\/\/www.facebook.com\/events\/732496077803241\/?context\">Rawabet Art Space<\/a> in Downtown Cairo from 8pm tonight. He\u2019ll be followed by Yunis, who will perform three of his music and dance creations that draw on spirituality and ritual. And then it\u2019s your turn to dance. <a href=\"https:\/\/bit.ly\/3bPoYRg\">Tickets<\/a> are EGP 150.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Things are better than you think in <\/strong><strong><a href=\"https:\/\/www.amazon.com\/Factfulness-Reasons-World-Things-Better-ebook\/dp\/B0756J1LLV\/ref=cm_cr_arp_d_product_top?ie=UTF8\">Factfulness<\/a><\/strong><strong>:<\/strong> We\u2019re constantly bombarded with news of wars, terrorism, famine and overpopulation \u2014 so it\u2019s no wonder a lot of us hold a gloomy perception of the world, says Factfulness author Hans Rosling. His book seeks to set the record straight with some surprisingly positive facts on economic development, education, public health, and population growth \u2014 and to do away with the notion of the \u201cdeveloping\u201d world, which he says elides big differences in quality of life both within and across low-income countries. Rosling claims that some 80% of respondents on his quiz about how bad the state of the world is scored worse than chimps that randomly filled in the answers, because humans consistently underestimate progress.<\/p>\n<p><strong>Bill Gates is a fan:<\/strong> \u201cFactfulness is one of the most educational books I\u2019ve ever read,\u201d he says in his <a href=\"https:\/\/www.gatesnotes.com\/books\/factfulness\">review<\/a>. Personal taste will dictate whether praise from Gates makes you want to read it more or less.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eat-this-tonight\/\">Eat This Tonight<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-recommends\/\">Enterprise Recommends<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/on-the-tube-tonight\/\">On The Tube Tonight<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"551656\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"551656\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">GO WITH THE FLOW<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/the-market-on-5-july-2022\/\">\r\n                            The market on 5 July, 2022                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/the-market-on-5-july-2022\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/the-market-on-5-july-2022\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/the-market-on-5-july-2022\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The market on 5 July, 2022&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/the-market-on-5-july-2022\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/the-market-on-5-july-2022\/&title=The market on 5 July, 2022\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+market+on+5+July%2C+2022+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F05%2Fthe-market-on-5-july-2022%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/the-market-on-5-july-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551656\" class=\"content-area-description single-story post-551656 post type-post status-publish format-standard hentry category-go-with-the-flow tag-egx tag-enterprisepm tag-go-with-the-flow wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The EGX30 fell 0.33% at today\u2019s close<\/strong> on turnover of EGP 953.9 mn (13.4% above the 90-day average). Local investors were net buyers. The index is down 27.6% YTD.<\/p>\n<p><strong>In the green: <\/strong>Medinet Nasr Housing (+8.0%), MM Group (+5.2%) and Orascom Construction (+5.1%).<\/p>\n<p><strong>In the red: <\/strong>Fawry (-7.8%), Ibnsina Pharma (-6.5%) and Cleopatra Hospitals (-5%).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/go-with-the-flow\/\">Go with the Flow<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"551657\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"551657\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Founder of the Week<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/meet-our-founder-of-the-week-moneyfellows-founder-and-ceo-ahmed-wadi\/\">\r\n                            Meet our founder of the week: MoneyFellows founder and CEO Ahmed Wadi                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/meet-our-founder-of-the-week-moneyfellows-founder-and-ceo-ahmed-wadi\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/meet-our-founder-of-the-week-moneyfellows-founder-and-ceo-ahmed-wadi\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/meet-our-founder-of-the-week-moneyfellows-founder-and-ceo-ahmed-wadi\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Meet our founder of the week: MoneyFellows founder and CEO Ahmed Wadi&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/meet-our-founder-of-the-week-moneyfellows-founder-and-ceo-ahmed-wadi\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/meet-our-founder-of-the-week-moneyfellows-founder-and-ceo-ahmed-wadi\/&title=Meet our founder of the week: MoneyFellows founder and CEO Ahmed Wadi\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Meet+our+founder+of+the+week%3A+MoneyFellows+founder+and+CEO+Ahmed+Wadi+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F05%2Fmeet-our-founder-of-the-week-moneyfellows-founder-and-ceo-ahmed-wadi%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/meet-our-founder-of-the-week-moneyfellows-founder-and-ceo-ahmed-wadi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/358.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"551658\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/meet-our-founder-of-the-week-moneyfellows-founder-and-ceo-ahmed-wadi\/358-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/358.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"358.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/358.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/358.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551657\" class=\"content-area-description single-story post-551657 post type-post status-publish format-standard has-post-thumbnail hentry category-founder-of-the-week tag-ahmed-wadi tag-enterprisepm tag-founder-of-the-week tag-moneyfellows tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>OUR FOUNDER OF THE WEEK <\/strong>- Ahmed Wadi, founder and CEO of MoneyFellows (<a href=\"https:\/\/www.linkedin.com\/in\/ahmadwadi\/\">LinkedIn<\/a>).<\/p>\n<p><strong>My name is Ahmed Wadi, and I\u2019m the CEO and founder of <\/strong><strong><a href=\"https:\/\/moneyfellows.com\/\">MoneyFellows<\/a><\/strong><strong>. <\/strong><\/p>\n<p><strong>The idea of MoneyFellows came to me back in 2016<\/strong>, when I was in Germany and trying to save money and get access to credit. This wasn\u2019t easy as I wasn\u2019t born in Germany and I struggled to find ROSCAs (rotating savings and credit associations). This made me think: Why can't I modernize and digitize this very ancient and traditional money saving model that I\u2019ve always seen back home \u2014 gameya \u2014 and give people all around the world the chance to partake in ROSCAs together.<\/p>\n<p><strong>ROSCAs have always been an alternative solution. <\/strong>More people are relying on gameyat and ROSCAs informally to reach their financial goals and needs versus those who actually do it formally through financial institutions. It\u2019s a huge market, providing a very big opportunity. ROSCAs are more social, more culturally favorable, and more affordable to many.<\/p>\n<p><strong>The model has been there for hundreds of years and it hasn't died yet<\/strong>. It's still just as common years after the formation of the modern financial system. I think this is where the opportunity comes in, especially if we modernize it and ensure this model is done in a more efficient, more scalable, and more secure way.<\/p>\n<p><strong>We care about acquiring customers but we care more about retaining them<\/strong>. We do this through things like tracking their NPS, doing the right surveys and ensuring payout on time.<\/p>\n<p><strong>We want to ask less and grant more <\/strong>while ensuring that we\u2019re also granting people the right limits. Using MoneyFellows is becoming significantly more seamless: the app now sets its new users\u2019 credit limit based on the mobile they own and where they live. The app acquires this information either from questions the user answers or fetching the data directly from the user.<\/p>\n<p><strong>Building credibility takes a lot of time<\/strong> but I think we're doing a very good job. We need the right product, the right technology, and the right communication to ensure we're on track to lead different functions.<\/p>\n<p><strong>Offering a financial product that can handle sensitive user data <\/strong>means being cautious about cybersecurity. So we're ensuring we offer the right security and comply with the regulations, which comes with a lot of KPIs that we need to be cautious of and track contingencies.<\/p>\n<p><strong>MoneyFellows has so far raised a combined USD 11.5 mn <\/strong>and we\u2019re days away from closing a series B round. Our biggest investors are <a href=\"https:\/\/partechpartners.com\/\">Partech<\/a> and <a href=\"https:\/\/sawariventures.com\/\">Sawari Ventures<\/a>. We\u2019ve also received investments from <a href=\"https:\/\/www.4dxventures.com\/\">4DX<\/a>, <a href=\"https:\/\/500.co\/\">500 Startups<\/a>, <a href=\"https:\/\/www.p1.ventures\/\">P1 Ventures<\/a>, <a href=\"https:\/\/www.sangocapital.com\/\">Sango Capital<\/a> and some angel investors.<\/p>\n<p><strong>We\u2019re also about to launch four new products that we will announce very soon <\/strong>and we\u2019re also looking at expanding into different countries, which will be our main focus over the next six months. We\u2019re studying a few different countries in different regions, but mainly we\u2019re looking into Asia, Africa and the GCC.<\/p>\n<p><strong>The local market is attractive, international investors just don\u2019t see it. <\/strong>We need to attract more international investors, educate them and reassure them about Egypt. We\u2019ve been through a lot of talks with international investors, including those that never looked into Egypt or invested in the country. The talks are usually centered around convincing them to invest in Egypt, not just MoneyFellows.<\/p>\n<p><strong>Naturally the founder's journey was lonely. <\/strong>I had to build my own support system, get the right advisors, and choose the right investors and chase.them for their support.<\/p>\n<p><strong>This is actually my third startup. <\/strong>I\u2019ve done things in the proptech space, an online supermarket back in Germany, object tracking software and then MoneyFellows.<\/p>\n<p><strong>90% of what I do is usually revolving around the company<\/strong>, but to be honest, I'm enjoying it. If you really put a lot of effort and work hard towards achieving a certain goal and that goal is achieved, I think that's really what makes it all worth it.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ahmed-wadi\/\">Ahmed Wadi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/founder-of-the-week\/\">FOUNDER OF THE WEEK<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moneyfellows\/\">MoneyFellows<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"551659\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/551659\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551659\" class=\"content-area-description single-story post-551659 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>OUR CALENDAR APPEARS in two sections: <\/strong><\/p>\n<ul>\n<li><strong>Events with specific dates or months <\/strong>are right here up top<\/li>\n<li><strong>Events happening in a quarter or other range of time <\/strong>with no specific date \/ month appear at the bottom of the calendar.<\/li>\n<\/ul>\n<p><strong>JULY<\/strong><\/p>\n<p>July: A law governing ins. for seasonal contractors will come into effect.<\/p>\n<p>July: Actis\u2019 expected sale of its majority stake in Lekela to Infinity and Masdar\u2019s Infinity Power.<\/p>\n<p>First week of July: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p>First week of July: The national dialogue called for by President Abdel Fattah El Sisi kicks off.<\/p>\n<p>8 July (Friday): Arafat Day.<\/p>\n<p>9-13 July (Saturday-Wednesday): Eid Al Adha, national holiday.<\/p>\n<p>21 July (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>26-27 July (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>30 July (Saturday): Islamic New Year.<\/p>\n<p>Late July-14 August: 2Q2022 earnings season.<\/p>\n<p><strong>AUGUST<\/strong><\/p>\n<p>August: Work to extend the capacity of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a67dcca-de16-4313-b330-60fc1a21e6db\">Egypt-Sudan electricity interconnection<\/a> to 600 MW to be completed.<\/p>\n<p>August: Sharm El Sheikh will host the African Sumo Championship.<\/p>\n<p>18 August (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>SEPTEMBER<\/strong><\/p>\n<p>September: Egypt will display its first naval exhibition, <a href=\"https:\/\/bit.ly\/3lshDZX\">Naval Power<\/a>.<\/p>\n<p>September: Estate Waves Egypt <a href=\"https:\/\/bit.ly\/3zH4mEK\">real estate exhibition<\/a> through metaverse technology.<\/p>\n<p>September: Central Bank of Egypt\u2019s Innovation and Financial Technology Center to launch incubator for 25 fintech startups.<\/p>\n<p>September: The sixth session of the <a href=\"https:\/\/www.facebook.com\/mift.media\/posts\/pfbid034CjQppGScajHW83ktsmyHavSTQRys9Ezbp9KXCNfPg61XwgzSvHVYi7RfHWxsTESl\">Egyptian-German Joint Economic Committee<\/a>.<\/p>\n<p>September: A delegation from Germany\u2019s Aldi will visit Egypt to look at potential investments.<\/p>\n<p>6-9 September (Tuesday-Friday): Gate Travel Expo 2022, El Kobba Palace, Cairo.<\/p>\n<p>8 September (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>18 September (Sunday): Deadline for brokerage firms, asset managers and financial advisors <a href=\"https:\/\/alborsaanews.com\/2022\/04\/06\/1527896\">to register<\/a> with the Egyptian Securities Federation.<\/p>\n<p>20-21 September (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>22 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>26\u201327 September (Monday-Tuesday): The <a href=\"https:\/\/www.awieforum.org\/\">Africa Women Innovation and Entrepreneurship Forum (AWIEF)<\/a> at the Cairo Marriott Hotel.<\/p>\n<p><strong>OCTOBER<\/strong><\/p>\n<p>October: Air Sphinx, EgyptAir\u2019s low-cost subsidiary to <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=25062022&id=06c1fc4b-9551-4f6c-a782-70bdec4b30f0\">commence operations<\/a>.<\/p>\n<p>October: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p>October: The finals of the IEEE\u2019s <a href=\"https:\/\/www.zawya.com\/en\/press-release\/events-and-conferences\/ieee-announces-the-launch-of-arab-iot-and-ai-challenge-in-11-arab-countries-wnf45bg1\">Arab IoT & AI Challenge<\/a> will be held during GITEX Technology Week in Dubai next October, with participants from 11 Arab countries.<\/p>\n<p>1 October (Saturday): Use of Nafeza <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/381373340699759\">becomes compulsory<\/a> for air freight.<\/p>\n<p>6 October (Thursday): Armed Forces Day, national holiday.<\/p>\n<p>8 October (Saturday): Prophet Muhammad\u2019s birthday, national holiday.<\/p>\n<p>10-16 October (Monday-Sunday): <a href=\"https:\/\/www.imf.org\/en\/About\/Factsheets\/Annual-Spring-Meetings\">World Bank and IMF annual meetings<\/a> chaired by CBE Governor Tarek Amer, Washington, DC.<\/p>\n<p>18-20 October (Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p>27 October (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>Late October-14 November: 3Q2022 earnings season.<\/p>\n<p><strong>NOVEMBER<\/strong><\/p>\n<p>November: Cairo Water Week 2022.<\/p>\n<p>1-2 November (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>3 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>3-5 November (Thursday-Saturday): Egypt Fashion Week.<\/p>\n<p>4-6 November (Friday-Sunday): The <a href=\"https:\/\/www.autotechegypt.com\/en\/home.html\">Autotech<\/a> auto exhibition kicks off at the Cairo International Exhibition and Convention Center.<\/p>\n<p>6-18 November (Sunday-Friday): Egypt will host <a href=\"https:\/\/cop27.eg\/\">COP27<\/a> in Sharm El Sheikh.<\/p>\n<p>7-13 November (Mon-Sun): The International University Sports Federation (FISU) <a href=\"https:\/\/www.worldsquash.org\/2022-fisu-world-university-championship-squash-to-take-place-in-egypt\/\">World University<\/a> Squash Championships, New Giza.<\/p>\n<p>21 November-18 December (Monday-Sunday): 2022 Fifa World Cup, Qatar.<\/p>\n<p>13-14 December (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>15 December (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p><strong>DECEMBER<\/strong><\/p>\n<p>22 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>December: The Sixth of October dry port <a href=\"https:\/\/bit.ly\/3u3uB4u\">will begin operations<\/a>.<\/p>\n<p><strong>JANUARY 2023<\/strong><\/p>\n<p>January EGX-listed companies and non-bank lenders will submit ESG reports for the first time.<\/p>\n<p>January: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p><strong>MAY 2023<\/strong><\/p>\n<p>22-26 May (Monday-Friday): Egypt <a href=\"https:\/\/www.afdb.org\/en\/news-and-events\/press-releases\/african-development-bank-group-concludes-annual-meetings-governors-endorse-banks-vision-next-10-years-51974#:~:text=The%20new%20Board%20of%20Governors,from%2022%2D26%20May%202023.\">will host<\/a> the African Development Bank (AfDB) annual meetings in Sharm El Sheikh.<\/p>\n<p><strong>EVENTS WITH NO SET DATE <\/strong><\/p>\n<p>2Q2022: The Sovereign Fund of Egypt will invest in two companies in the financial inclusion and non-banking financial services sectors.<\/p>\n<p>End of 2Q2022: The Financial Regulatory Authority\u2019s new Ins. Act should be approved.<\/p>\n<p>End of 2Q2022: Door for bidding for the contract to redevelop the site of the former National Democratic Party HQ to close.<\/p>\n<p>1H2022: Target date for IDH to close its acquisition of 50% of Islamabad Diagnostic Center.<\/p>\n<p>1H2022: The government will respond to private companies\u2019 bids to build desalination plants.<\/p>\n<p>1H2022: Egypt\u2019s second corporate green bond issuance expected to be announced.<\/p>\n<p>End of 1H2022: Emirati industrial company M Glory Holding and the Military Production Ministry will begin the mass production of dual fuel pickup trucks that can run on natural gas.<\/p>\n<p>2H2022: The inauguration of the Grand Egyptian Museum.<\/p>\n<p>2H2022: <a href=\"https:\/\/www.ief.org\/news\/egypt-to-host-8th-ief-igu-ministerial-gas-forum-in-2022\">IEF-IGU Ministerial Gas Forum<\/a>, Egypt. Date + location TBA.<\/p>\n<p>2H2022: The government will have vaccinated 70% of the population.<\/p>\n<p>3Q2022: Ayady\u2019s consumer financing arm, The Egyptian Company for Consumer Finance Services, to release its first financing product.<\/p>\n<p>End of 2022: e-Aswaaq\u2019s tourism platform will complete the roll out of its ticketing and online booking portal across Egypt.<\/p>\n<p>2023: Egypt <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/380561820780911\">will host<\/a> the Asian Infrastructure Investment Bank\u2019s Annual Meeting of the Board of Governors in 2023.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish above between the actual holiday and its observance.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":551648,"template":"","categories":[],"tags":[],"class_list":["post-551647","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"3effda48-9d38-4605-8390-6e2800478cfb","teaser":"","photo_url":"https:\/\/ent.news\/2022\/7\/47.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>It\u2019s official: We\u2019re all getting one week off. - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/its-official-were-all-getting-one-week-off\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"It\u2019s official: We\u2019re all getting one week off.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/its-official-were-all-getting-one-week-off\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T23:28:10+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/47.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/its-official-were-all-getting-one-week-off\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/its-official-were-all-getting-one-week-off\/\",\"name\":\"It\u2019s official: We\u2019re all getting one week off. - 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