{"id":551749,"date":"2022-07-19T13:31:12","date_gmt":"2022-07-19T13:31:12","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=551749"},"modified":"2025-12-15T23:30:23","modified_gmt":"2025-12-15T23:30:23","slug":"were-not-getting-another-long-weekend","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/were-not-getting-another-long-weekend\/","title":{"rendered":"We\u2019re not getting another long weekend"},"content":{"rendered":"<section id=\"551751\" 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=\"551751\">\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\/19\/this-evening-sodic-facing-a-dead-end-in-mnhd-acquisition-bid-plus-chimera-closes-in-on-beltone\/\">\r\n                            THIS EVENING: SODIC facing a dead end in MNHD acquisition bid? Plus: Chimera closes in on Beltone                        <\/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\/19\/this-evening-sodic-facing-a-dead-end-in-mnhd-acquisition-bid-plus-chimera-closes-in-on-beltone\/\" 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\/19\/this-evening-sodic-facing-a-dead-end-in-mnhd-acquisition-bid-plus-chimera-closes-in-on-beltone\/')\">\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\/19\/this-evening-sodic-facing-a-dead-end-in-mnhd-acquisition-bid-plus-chimera-closes-in-on-beltone\/\">\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=THIS EVENING: SODIC facing a dead end in MNHD acquisition bid? Plus: Chimera closes in on Beltone&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/19\/this-evening-sodic-facing-a-dead-end-in-mnhd-acquisition-bid-plus-chimera-closes-in-on-beltone\/\">\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\/19\/this-evening-sodic-facing-a-dead-end-in-mnhd-acquisition-bid-plus-chimera-closes-in-on-beltone\/&title=THIS EVENING: SODIC facing a dead end in MNHD acquisition bid? Plus: Chimera closes in on Beltone\">\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=THIS+EVENING%3A+SODIC+facing+a+dead+end+in+MNHD+acquisition+bid%3F+Plus%3A+Chimera+closes+in+on+Beltone+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F19%2Fthis-evening-sodic-facing-a-dead-end-in-mnhd-acquisition-bid-plus-chimera-closes-in-on-beltone%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\/19\/this-evening-sodic-facing-a-dead-end-in-mnhd-acquisition-bid-plus-chimera-closes-in-on-beltone\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551751\" class=\"content-area-description single-story post-551751 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-enterprisepm tag-european-central-bank tag-interest-rates tag-ma-watch tag-madinet-masr-for-housing-and-development tag-sodic 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>Happy hump day, friends.<\/strong> It\u2019s a relatively busy news day here on the home front, with that M&A boomlet we signposted this morning still keeping up pace.<\/p>\n<p><strong>PSA- <\/strong><strong>We\u2019re not getting (yet another) long weekend: <\/strong>Saturday will be a national holiday in observance of the 23 July Revolution, a<a href=\"https:\/\/tinyurl.com\/2yyhc6c3\">statement<\/a>by the Cabinet read. Both the public and private sector will be off, the statement said. Saturday is typically already a day off for many private sector workers, but the government will not push up the revolution observance day to Thursday, as is sometimes the case.<\/p>\n<p><strong>THE BIG STORIES TODAY<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Is SODIC\u2019s bid to acquire MNHD\u2019s hitting a dead end?<\/strong> SODIC said it will not revise the price it offered to acquire up to 100% of Madinet Nasr Housing and Development (MNHD) without conducting due diligence on the company in a <a href=\"https:\/\/ent.news\/2022\/7\/%D8%B3%D9%88%D8%AF%D9%8A%D9%83-%D8%A8%D9%8A%D8%A7%D9%86-19-07-2022.pdf\">disclosure to the EGX (pdf)<\/a>. This comes a few days after MNHD\u2019s board of directors said the price was too low as it stands, and recommended that the general assembly reject SODIC\u2019s request for due diligence during its scheduled meeting on 16 August unless SODIC bumps its offer price in a new bid.<\/p>\n<p><strong>One step closer to Chimera\u2019s acquisition of Beltone:<\/strong> Chimera Investments\u2019 bid to acquire up to 90% of Beltone Financial is poised to go through after getting the the Financial Regulatory Authority\u2019s (FRA) stamp of approval in a <a href=\"https:\/\/ent.news\/2022\/7\/%D8%A8%D9%84%D8%AA%D9%88%D9%86-%D8%B9%D8%B1%D8%B6-%D8%B4%D8%B1%D8%A7%D8%A1-19-7-2022.pdf\">disclosure to the EGX (pdf)<\/a> yesterday.<\/p>\n<p><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p><strong>The international business press is largely preoccupied this afternoon with the<\/strong><strong> possibility of Europe waving goodbye to its era of negative rates<\/strong> following the European Central Bank\u2019s monetary policy meeting this Thursday. The policy committee is expected to discuss potentially raising rates by 50 bps in a bid to tamp down soaring inflation and debt costs, while the eurozone also faces a stronger USD that has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/066021fc-c04f-49fa-9b81-1c393343803c\">now reached parity<\/a> with the EUR. The story is getting play in the <a href=\"https:\/\/www.ft.com\/content\/160e24da-946e-4652-a69c-369fa3b68172\">Financial Times<\/a> and <a href=\"https:\/\/www.reuters.com\/markets\/europe\/ecb-policymakers-discuss-50-bps-rate-hike-this-week-sources-say-2022-07-19\/\">Re<\/a><a href=\"https:\/\/www.reuters.com\/markets\/europe\/ecb-policymakers-discuss-50-bps-rate-hike-this-week-sources-say-2022-07-19\/\">uters<\/a>, among others.<\/p>\n<p><strong>HAPPENING NOW-<\/strong><\/p>\n<p><strong>The state\u2019s national dialogue meetings resume:<\/strong> The board overseeing the Sisi administration\u2019s national dialogue is holding its second meeting to set a schedule of debate, discuss the agenda, and form subcommittees.<\/p>\n<p><strong>Need a refresher on the national dialogue?<\/strong> We\u2019ve <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/618da10f-a3ed-44b3-92e6-b25ee5ff7eae\">got you covered.<\/a><\/p>\n<p><strong>The government\u2019s public consultations on its state ownership policy are also continuing today<\/strong> with representatives from the wholesale and retail sectors having their say. Sunday\u2019s session brought leather manufacturers together to discuss the state\u2019s privatization plans. Every Sunday, Tuesday and Thursday sees workshops on 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<hr class=\"grey-line\">\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong>Infinity + AFC just sealed Africa\u2019s largest-ever renewables acquisition:<\/strong> Our friends at renewables player Infinity Group and Africa Finance Corporation (AFC) have <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c636f569-fcd3-4997-87a2-f5c20bc5691a\">signed an agreement<\/a> to acquire 100% of Lekela Power in what is Africa\u2019s largest renewables acquisition.<\/li>\n<li><strong>Banque du Caire\u2019s IPO may have been kicked down the road once more:<\/strong> State-owned Banque du Caire <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/004a2209-c482-4067-af0e-5ba87566e2d4\">is postponing<\/a> its long-awaited IPO due to unfavorable market conditions.<\/li>\n<li><strong>SDX shareholder to block planned merger with Tenaz: <\/strong>A planned merger between UK-based, Egypt-focused SDX Energy with Canadian firm Tenaz Energy has been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0720823b-b738-4da8-ae54-08c2ffacf327\">thrown into doubt<\/a> after a group of shareholders said they would vote to block the transaction.<\/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>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>IDG to host cultural festival with sustainable waste in focus at Alamein:<\/strong> Our friends at Industrial Development Group (IDG) are hosting a cultural festival at their eco-sustainable industrial park, e2 Alamein, on the North Coast, according to <a href=\"https:\/\/ent.news\/2022\/7\/IDG-PR-Alamein-Industrial-Park-E-V1.docx-1.pdf\">a statement (pdf)<\/a>. The \u201cLocale\u201d festival, which IDG is hosting in partnership with Art d\u2019Egypte, will include showcase nine art installations made with recycled materials to raise \u201cawareness around waste management and<\/p>\n<p>encouraging waste prevention, reuse, and recycling behavior.\u201d The event launches this Thursday, 21 July, and runs through the summer.<\/p>\n<p><strong>Calling tech startups:<\/strong> Universities of Canada in Egypt-based incubator DMZ Cairo has opened applications for its second eight-month incubation program for tech startups, which begins in November, according to <a href=\"https:\/\/ent.news\/2022\/7\/PR-1-DMZ-Cairo-Cycle-2.pdf\">a statement (pdf)<\/a>. The incubator \u2014 which is backed by the Academy of Scientific Research and Technology and the National Technological Incubators Program \u2014 is accepting applications for the cycle until 29 September.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>The mercury is set to rise (although not significantly) tomorrow, reaching a high of 38\u00b0C before cooling to a low of 25\u00b0C in the evening.<\/p>\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\/european-central-bank\/\">European Central Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madinet-masr-for-housing-and-development\/\">Madinet Masr for Housing and Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sodic\/\">SODIC<\/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=\"551752\" 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=\"551752\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/19\/551752\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551752\" class=\"content-area-description single-story post-551752 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\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=\"551753\" 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=\"551753\">\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\/19\/how-climate-friendly-are-eco-tourism-spots-actually-peoples-money-stresses-ironically-make-them-worse-at-money-management\/\">\r\n                            How climate friendly are eco-tourism spots, actually? + People\u2019s money stresses ironically make them worse at money management                        <\/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\/19\/how-climate-friendly-are-eco-tourism-spots-actually-peoples-money-stresses-ironically-make-them-worse-at-money-management\/\" 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\/19\/how-climate-friendly-are-eco-tourism-spots-actually-peoples-money-stresses-ironically-make-them-worse-at-money-management\/')\">\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\/19\/how-climate-friendly-are-eco-tourism-spots-actually-peoples-money-stresses-ironically-make-them-worse-at-money-management\/\">\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=How climate friendly are eco-tourism spots, actually? 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Look more closely. <\/strong>Many hotels are advertising their supposed \u201cnet-zero\u201d status, but their carbon footprint is bigger than you\u2019d think, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-19\/embodied-carbon-is-dirty-secret-of-hotel-industry-greenwashing-eco-ratings?srnd=premium-middle-east#xj4y7vzkg\">Bloomberg<\/a> reports. When boasting about their shunning of plastic bottles and how they use renewable energy or reusable water, some hotels fail to disclose the impact of their embodied carbon \u2014 a term that refers to the harmful gasses emitting during construction of any building, citing architects and research scientists. So these eco-efficient mechanical systems in that five-star hotel? They were responsible for large amounts of emissions during their manufacturing, transportation, and installation. Embodied carbon in construction contributes to at least 21% of global emissions, according to <a href=\"https:\/\/brightworks.net\/\">Brightworks<\/a><a href=\"https:\/\/brightworks.net\/\">Sustainability<\/a>. A main problem lies in the fact that there is no actual regulation or an agreed-upon definition of what it means to be net-zero, leaving things loosely open to interpretation. And many tourists care, according to the <a href=\"https:\/\/globalnews.booking.com\/climate-community-and-choice-bookingcom-reveals-the-trends-shaping-sustainable-travel-in-2022\/\">Sustainable Travel Report 2022<\/a>released by Booking.com, which found that 81% of people consider sustainability a crucial factor when determining how to travel.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>The ironic vicious cycle of personal finance management:<\/strong> Rising stress about money management and savings is causing some people to lose control of their finances \u2014 including something as small as forgetting to pay bills, which ironically increases their financial burdens thanks to late-payment fees, the <a href=\"https:\/\/www.wsj.com\/articles\/people-have-money-but-theyre-forgetting-to-pay-bills-11658183114?mod=hp_featst_pos5\">Wall Street Journal<\/a> reports. During the first six months of the year, JPMorgan Chase said 1.05% of its credit-card customers were one month late on making their payments, which was slightly up from 1.01% during the same period last year. More people are behind on their auto loans and utility payments as well, according to figures cited by the Journal. Forgetting was listed as the top reason people are missing out their credit-card payments this year, followed by financial shortcomings, according to a recent survey by <a href=\"https:\/\/wallethub.com\/blog\/late-payments-survey\/58680\">WalletHub<\/a>.<\/p>\n<p><strong>There\u2019s a lot to be stressing about, when it comes to finances:<\/strong> Inflation, covid-19, and stock market turbulence are the main causes of money-related stress, according to financial advisors. \u201cClients are carrying a heavier mental load these days, built up in part by what feels like 50 years\u2019 worth of events happening in a single week. No wonder they\u2019re distracted,\u201d said financial planner Kelly Klingaman.<\/p>\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\/for-your-commute\/\">FOR YOUR COMMUTE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/going-green\/\">going green<\/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=\"551755\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px 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256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"551756\" 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=\"551756\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <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\/19\/the-man-from-toronto-a-nightmarish-case-of-mistaken-identity-jareds-still-reigns-supreme-as-cairos-bagel-master\/\">\r\n                            The Man From Toronto: A (nightmarish) case of mistaken identity + Jared\u2019s still reigns supreme as Cairo\u2019s bagel master                        <\/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\/19\/the-man-from-toronto-a-nightmarish-case-of-mistaken-identity-jareds-still-reigns-supreme-as-cairos-bagel-master\/\" target=\"_blank\">\n            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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/19\/the-man-from-toronto-a-nightmarish-case-of-mistaken-identity-jareds-still-reigns-supreme-as-cairos-bagel-master\/390-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/390.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"390.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/390.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/390.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551756\" class=\"content-area-description single-story post-551756 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-05\"><\/a> <strong>A mistaken identity action-comedy makes for easy viewing in <\/strong><strong><a href=\"https:\/\/www.netflix.com\/tudum\/the-man-from-toronto\">The Man from Toronto<\/a><\/strong><strong>: <\/strong>The movie follows a failed New York salesman (Kevin Hart) whose identity is mistaken with a notoriously-deadly assassin (Woody Harrelson), and the ensuing hilarity is what kept us watching. How does the faux-pas happen? An Airbnb mix up, after Teddy\u2019s printer rendered the rental\u2019s address unreadable. With two likable actors in the leading roles, the movie is perfect for non-complicated viewing after a long day. Fun fact: The movie was inspired by real events \u2014 producer Jason Blumenthal got inspiration for the film after experiencing a (far-less deadly) Airbnb mix-up himself.<\/p>\n<p>\u26bd <strong>No football today, good people.<\/strong><\/p>\n<p><strong>?EAT THIS TONIGHT- <\/strong><\/p>\n<p><strong>Pick up breakfast from the long-reigning king of bagels \u2014 <\/strong><strong><a href=\"https:\/\/www.jaredsbagels.com\/\">Jared\u2019s Bagels<\/a><\/strong><strong> in Maadi: <\/strong>It\u2019s not easy to find a good bagel in Cairo, but Jared\u2019s Bagels brings one of the best doughnut-shaped yeast-leavened rolls we\u2019ve ever had. With just the right amount of fluffiness, it almost feels like you picked them up from a New York City deli \u2014 even our former NYC-dwellers were impressed. We recommend their smoked salmon and cream cheese bagels, and you can\u2019t go wrong with their egg omelet, turkey and cheddar bagel for breakfast (or lunch\u2026 or dinner). Their coffee is pretty good as well, and their staff are always super friendly, which makes for an overall wonderful foodie experience.<\/p>\n<p>? <strong>OUT AND ABOUT-<\/strong><br \/> (all times CLT)<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Beat the post-vacation blues at Cairo Jazz Club 610\u2019s <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/575300403972910\/\">#TuesdayMidweekParty<\/a><\/strong><strong> tonight:<\/strong> Dance the night away with a masterful melodic and deep house set from Heavy Pins at 8pm, followed by Mohasseb\u2019s signature beats.<\/p>\n<p><strong>If you\u2019re heading up to Sahel this weekend, catch John Legend\u2019s concert<\/strong> at the Playa resort on Friday at 5pm. The concert will be the first performance in Egypt for the singer \u2014 who has the highly-coveted EGOT status from earning an Emmy, Grammy, Oscar, and and Tony awards.Tickets are available through <a href=\"https:\/\/ticketegypt.com\/events\/625d4384e2bf88002b58c43e\/625d4384e2bf88002b58c44a\/tickets\">Ticket Egypt here<\/a>.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Two video game developers look for love IRL in <\/strong><strong><a href=\"https:\/\/www.amazon.com\/Tomorrow-novel-Random-House-Large\/dp\/059360783X\">Tomorrow, and Tomorrow, and<\/a><\/strong><strong><a href=\"https:\/\/www.amazon.com\/Tomorrow-novel-Random-House-Large\/dp\/059360783X\">Tomorrow<\/a><\/strong><strong>: <\/strong>When Sam and Sadie first met as teenagers in a hospital, they immediately bonded over their shared love of gaming. Years later, the duo are reunited in Boston \u2014 when Sam goes to Harvard and Sadie attends MIT \u2014 and they collaborate on creating a video game that launches them into the gaming industry. But make no mistake, while this new novel by Gabrielle Zevin centers around game designers and love, it has very little to do with gaming and romance. It is, however, about the complexities of what it means to be human, and the relationships, friendships, and connections that can bring joy through a digital world, away from the messiness of the real world.<\/p>\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=\"551758\" 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=\"551758\">\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\/19\/the-market-on-19-july-2022\/\">\r\n                            The market on 19 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\/19\/the-market-on-19-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\/19\/the-market-on-19-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\/19\/the-market-on-19-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 19 July 2022&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/19\/the-market-on-19-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\/19\/the-market-on-19-july-2022\/&title=The market on 19 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+19+July+2022+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F19%2Fthe-market-on-19-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\/19\/the-market-on-19-july-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551758\" class=\"content-area-description single-story post-551758 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 rose 1.9% at today\u2019s close<\/strong> on turnover of EGP 1.2 bn (31.7% above the 90-day average). Local investors were net buyers. The index is down 24.4% YTD.<\/p>\n<p><strong>In the green: <\/strong>CIRA (+10.3%), Orascom Development Egypt (+4.8%) and GB Auto (+4.4%).<\/p>\n<p><strong>In the red: <\/strong>Cleopatra Hospitals (-5.1%), Madinet Nasr Housing (-3.5%) and Sidi Kerir Petrochemicals (-1.0%).<\/p>\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=\"551759\" 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=\"551759\">\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\/19\/meet-our-founder-of-the-week-khaznas-ahmed-wagueeh\/\">\r\n                            Meet our founder of the week: Khazna\u2019s Ahmed Wagueeh                        <\/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\/19\/meet-our-founder-of-the-week-khaznas-ahmed-wagueeh\/\" 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\/19\/meet-our-founder-of-the-week-khaznas-ahmed-wagueeh\/')\">\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\/19\/meet-our-founder-of-the-week-khaznas-ahmed-wagueeh\/\">\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: Khazna\u2019s Ahmed Wagueeh&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/19\/meet-our-founder-of-the-week-khaznas-ahmed-wagueeh\/\">\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\/19\/meet-our-founder-of-the-week-khaznas-ahmed-wagueeh\/&title=Meet our founder of the week: Khazna\u2019s Ahmed Wagueeh\">\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+Khazna%E2%80%99s+Ahmed+Wagueeh+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F19%2Fmeet-our-founder-of-the-week-khaznas-ahmed-wagueeh%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\/19\/meet-our-founder-of-the-week-khaznas-ahmed-wagueeh\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/391.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"551760\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/19\/meet-our-founder-of-the-week-khaznas-ahmed-wagueeh\/391-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/391.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"391.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/391.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/391.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551759\" class=\"content-area-description single-story post-551759 post type-post status-publish format-standard has-post-thumbnail hentry category-founder-of-the-week tag-ahmed-wagueeh tag-enterprisepm tag-financial-inclusion tag-fintech tag-founder-of-the-week tag-khazna 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-03\"><\/a> <strong>OUR FOUNDER OF THE WEEK-<\/strong> Ahmed Wagueeh, co-founder and CTO of Khazna (<a href=\"https:\/\/eg.linkedin.com\/in\/wagueeh\">LinkedIn<\/a>).<\/p>\n<p><strong>My name is Ahmed Wagueeh, and I\u2019m the chief technology officer and co-founder of Khazna. <\/strong>I studied computer engineering at Cairo University, and prior to co-founding Khazna, I worked with multinational corporations like Intel, Valeo, and IBM.<\/p>\n<p><strong>Khazna, launched in 2019, targets the middle and lower economic classes of the Egyptian population. <\/strong>Khazna caters to around 53% of Egyptians who are underbanked and lack access to formal financial services. The branch-based model, given its high costs, does not adequately serve the needs of low-income segments of the population, and we aim to tackle this problem. Khazna currently offers general purpose credit, buy now, pay later (BNPL), and bill payment services.<\/p>\n<p><strong>The fact that Egypt has the highest number of smartphone users in the region opened our eyes to the potential of our business model<\/strong>. We knew we could provide financial services digitally to our users and provide them with a platform that integrates them within the formal financial system.<\/p>\n<p><strong>Providing a seamless user experience is a top priority for us; everything you need is just 2 or 3 clicks away<\/strong>, without lengthy processes that bore users. We also focus on providing top-notch customer support and onboarding processes.<\/p>\n<p><strong>The most important KPIs we focus on include our outstanding loan book<\/strong>, which enables us to track the number of loans and services utilized by our users. Increasing numbers are indicative of the fact that current users are utilizing more of our services, which would in turn mean that we are acquiring more users through referrals. We also focus on the number of our monthly active users; these are the northstars that guide us on a weekly basis.<\/p>\n<p><strong>Our customer acquisition strategy is twofold: <\/strong>We partner with employers to validate the data and credit score of their employees, so we can establish a logical, multipurpose credit line based on the information provided to us. Users can utilize their credit line in several ways, whether it be withdrawing funds in cash or using it for BNPL services through any one of the top 100 merchants we partner with, or for bill payment services. We also acquire users through traditional marketing channels.<\/p>\n<p><strong>We also recently acquired a license to issue a card of our own, Khazna Card.<\/strong> We were the first fintech app in Egypt that launched such an offering. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3d67b6a4-6a2f-4645-b7a5-3f553e013b15\">Khazna card<\/a>, a Meeza prepaid card launched in partnership with the Abu Dhabi Islamic Bank (ADIB), provides our unbanked users access to a wide range of financial services. It also enables us to facilitate a unique service: instant disbursement of cashflow through our app, regardless of banks\u2019 working days and national holidays.<\/p>\n<p><strong>So far Khazna raised a total of USD 47 mn. <\/strong>We raised USD 9 mn during our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0493b21d-3ffe-4fdb-a457-43366129efd2\">seed<\/a> and pre-seed rounds. The main investors for these two initial rounds were Algebra Ventures and Accion Venture Lab<strong>. <\/strong>We raised USD 38 mn in equity and debt during our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53b52ec5-1a0b-49c0-be83-a299f554c1da\">series A round<\/a>, with the equity investment led by Quona Capital with the participation of Speedinvest, Nclude, Khawarizmi Ventures, Algebra Ventures, Accion Venture Lab, Disruptech, AB Accelerator by Arab Bank, and CVentures, among others. The debt financing was backed by Lendable.<\/p>\n<p><strong>Being backed by <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/51710abc-abe2-41fc-a5bf-465d12117001\">Nclude<\/a><\/strong><strong> was historic for us. <\/strong>The fact that top tier banks are backing us, a fintech startup, is a testament to our impact and gave us an enormous boost of confidence. It is a milestone for us, because we became even closer to regulators and the formal banking sector.<\/p>\n<p><strong>I think bootstrapping your startup entirely can be problematic. <\/strong>You need investors to challenge you, and validate your business model and approach. Bootstrapping can create an echo chamber that isolates you from opposing views, and can leave you unprepared for the challenges you\u2019ll face in the real world, ultimately compromising your survival.<\/p>\n<p><strong>If I had to do it all over again, I would still partner with investors.<\/strong> We always partner with VCs that have similar startups in their portfolio because they can help us grow and navigate challenges. I believe that bringing in the right partners accelerates the business on so many levels. Investors obviously bring capital to the table, but they also bring strategic advice, market insights, help you form meaningful connections with startups that face similar challenges, and can help you expand into new markets.<\/p>\n<p><strong>The best part of the job is seeing our hard work come to fruition:<\/strong> Reaching 1 mn transactions, and getting the approval to launch our Khazna card were both milestones that made us equally ecstatic and proud. Apart from milestones, I truly love my job; I\u2019ve been passionate about software development since I was eight years old, so I consider my job a hobby and a passion project. The fact that our business is impactful and helps better the lives of our users is truly fulfilling.<\/p>\n<p><strong>In another life, I would have been a film critic. <\/strong>I\u2019m a complete movie buff. Movies like Fight Club, Pulp Fiction, and The Green Mile are outstanding and I never get bored of them, even after watching them for the 30th time [laughs]. I\u2019m a sucker for great dialogue and captivating stories.<\/p>\n<p><strong>The last great thing I watched was <\/strong><strong><a href=\"https:\/\/www.imdb.com\/title\/tt0412142\/\">House<\/a><\/strong><strong>.<\/strong> The series is mesmerizing; it captures the brilliance and madness of the antisocial protagonist, Dr. Gregory House, who is played by Hugh Laurie, and is rife with brilliant dialogue and plot twists.<\/p>\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-wagueeh\/\">Ahmed Wagueeh<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-inclusion\/\">financial inclusion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/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\/khazna\/\">Khazna<\/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=\"551761\" 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\/19\/551761\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551761\" class=\"content-area-description single-story post-551761 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>18-19 July (Monday-Tuesday): <a href=\"https:\/\/climatenetwork.org\/can-event\/pcd13\/\">Petersberg Climate Dialogue<\/a>, Berlin.<\/p>\n<p>19 July (Tuesday): The government hosts public consultations on its state ownership policy document with wholesale and retail players.<\/p>\n<p>19 July (Tuesday): The national dialogue\u2019s board to <a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/471198\/Egypt\/Politics-\/UPDATED-Egypt%E2%80%99s-national-dialogue-board-of-trustee.aspx\">reconvene<\/a>.<\/p>\n<p>21 July (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>21 July (Thursday): The government hosts public consultations on its state ownership policy document with medical device manufacturers.<\/p>\n<p>21 July (Thursday): Launch event for IDG and Art d\u2019Egypte\u2019s Locale cultural festival, e2 Alamein park, Egypt.<\/p>\n<p>21-22 July (Thursday-Friday): The Arab Organisation for Human Rights (AOHR) and Supreme Standing Committee for Human Rights (SSCHR) <a href=\"https:\/\/english.ahram.org.eg\/News\/471632.aspx\">human rights conference<\/a>.<\/p>\n<p>24 July (Sunday): The government hosts public consultations on its state ownership policy document with healthcare players.<\/p>\n<p>26 July (Tuesday): The government hosts public consultations on its state ownership policy document with pharma players.<\/p>\n<p>26-27 July (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>28 July (Thursday): The government hosts public consultations on its state ownership policy document with experts and think tanks.<\/p>\n<p>29 July (Friday): Aleph Commodities shareholder meeting to vote on potential merger with Tenaz Energy Corp.<\/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>14 August (Sunday): Conference of Egyptian entities abroad.<\/p>\n<p>16 August (Tuesday): MNHD\u2019s general assembly meeting to decide whether to allow SODIC to go ahead with due diligence on its takeover bid.<\/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: <a href=\"https:\/\/bit.ly\/3lshDZX\">Naval Power<\/a>, Egypt\u2019s first naval defense expo<\/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: <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>September: Government to launch an <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0QKmVCxurac4PGgrxGiVR7LN5BgQi5aCPpHahEzKda36Q1obcfw1w2P3M7eVm4Tujl\">international promotional campaign<\/a> for Egyptian tourism.<\/p>\n<p>6-9 September (Tuesday-Friday): Gate Travel Expo 2022, El Kobba Palace, Cairo.<\/p>\n<p>7-9 September (Wednesday-Friday): African Finance Ministers to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid034TbdNfjuu5yHr2NAycih1ggLyA8CPUgnE4AB8MF3SD1Zpv5rTvBmitm7sb4GyiqDl\">meet in Cairo<\/a> to coordinate an African-led position during COP27.<\/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>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.<\/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): <a href=\"https:\/\/www.autotechegypt.com\/en\/home.html\">Autotech<\/a> auto exhibition, 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>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\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":551750,"template":"","categories":[],"tags":[],"class_list":["post-551749","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"7fe3ded8-72d8-4df9-9431-3e78a72d12a4","teaser":"","photo_url":"https:\/\/ent.news\/2022\/7\/57.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>We\u2019re not getting another long weekend - 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\/were-not-getting-another-long-weekend\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"We\u2019re not getting another long weekend\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/were-not-getting-another-long-weekend\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T23:30:23+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\/57.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\/were-not-getting-another-long-weekend\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/were-not-getting-another-long-weekend\/\",\"name\":\"We\u2019re not getting another long weekend - 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