{"id":565109,"date":"2021-03-21T13:45:53","date_gmt":"2021-03-21T13:45:53","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=565109"},"modified":"2025-12-16T04:50:03","modified_gmt":"2025-12-16T04:50:03","slug":"enterprise-egypt-fuels-2020-mena-e-commerce-boom","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-egypt-fuels-2020-mena-e-commerce-boom\/","title":{"rendered":"Enterprise Egypt fuels 2020 MENA e-commerce boom"},"content":{"rendered":"<section id=\"565111\" 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=\"565111\">\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\/2021\/03\/21\/what-were-tracking-tonight-on-21-march-2021\/\">\r\n                            What we\u2019re tracking tonight on 21 March 2021                        <\/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\/2021\/03\/21\/what-were-tracking-tonight-on-21-march-2021\/\" 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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Y\u2019all are amazing, and we hope all your loved ones \u2014 spawn and spouse alike \u2014 remembered to do something special for you today.<\/p>\n<p>(<strong>North American readers: Don\u2019t sweat it, you\u2019re cool.<\/strong> It\u2019s _Egyptian_ Mother\u2019s Day. Moms in Canada and the United States will be celebrated on Sunday, 9 May.)<\/p>\n<p><strong>HAPPENING NOW-<\/strong> <strong>The Senate is discussing tougher penalties for female genital <\/strong><strong>mutilation (FGM) in plenary sessions today and tomorrow.<\/strong> Lay persons caught performing the procedure could face up to seven years in prison if a victim is permanently disabled and a decade in the case of a death, according to <a href=\"http:\/\/bit.ly\/2OKHwqT\">Youm7<\/a>. Medical professionals found guilty of FGM would face between 10-15 years in prison and will be stripped of their medical license. You\u2019ll also face a term in prison if you\u2019re caught promoting or encouraging the practice. The Senate will also be discussing a draft law that would set up a standards and accreditation body for the education industry as well as another bill that regulates the handling of cotton crops, according to <a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/406438\/Egypt\/Politics-\/Egypts-Senate-to-discuss-toughening-penalties-on-f.aspx\">Ahram Online<\/a>.<\/p>\n<p><strong>CATCH UP QUICK<\/strong> on the top stories from this morning\u2019s edition of EnterpriseAM:<\/p>\n<ul>\n<li><strong>Eastern Company\u2019s monopoly on cigarettes could go up in smoke<\/strong>, but <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/37788807-9726-457b-9df0-f4fca702d0f2\">industry<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/37788807-9726-457b-9df0-f4fca702d0f2\">players aren\u2019t yet lining up to bid<\/a> on a new license that would require them to give a 24% stake to the state-owned outfit. (We have a followup in this afternoon\u2019s Speed Round, below.)<\/li>\n<li><strong>It\u2019s all vaccines, all the time:<\/strong> The first made-in-Egypt vaccine against covid-19 is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b5524763-ab2f-4eb3-a685-052091da22da\">about<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b5524763-ab2f-4eb3-a685-052091da22da\">to enter clinical trials<\/a>, some 250k people could be jabbed this week, and Europe has cleared AstraZeneca of accusations that it causes blood clots.<\/li>\n<li><strong>The central bank left interest rates on hold<\/strong> as we stare down the possibility of a commodities supercycle. The MPC noted that \u201cleading indicators are <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8aec33ff-7ac6-4c37-ac87-0e08f836cad9\">gradually recovering to their pre-pandemic levels<\/a>.\u201d<\/li>\n<\/ul>\n<p><strong>GLOBAL BUSINESS NEWS is quiet today<\/strong>, as is often the case on a Sunday afternoon. <a href=\"https:\/\/www.cnbc.com\/2021\/03\/21\/saudi-arabia-profit-drops-after-covid-battered-year-upholds-dividend.html\">CNBC<\/a> and <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-21\/saudi-aramco-sticks-to-75-billion-dividend-after-earnings-slump?srnd=premium-middle-east\">Bloomberg<\/a> are both leading with news that <strong>Saudi Aramco will push ahead with a USD 75 bn dividend<\/strong> despite an \u201cearnings rout\u201d that saw its bottom line slump 44%. The <a href=\"https:\/\/www.wsj.com\/articles\/as-blackstone-barrels-toward-trillion-dollar-asset-goal-growth-is-in-value-out-11616319002\">Wall Street Journal<\/a> is leading with news that <strong>Blackstone is going to shift its posture to invest in companies with \u201cbig growth prospects\u201d<\/strong> rather than its traditional focus on rooting out undervalued companies.<\/p>\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>The CIB PSA Black Ball Open 2021 men\u2019s squash is running until Thursday, <\/strong>following the completion of the women\u2019s league last Thursday. Some 48 men will compete for a USD 350k purse, evenly split with the women in what is the PSA World Tour\u2019s first event of 2021. You can stream the event live on <a href=\"https:\/\/psaworldtour.com\/accounts\/login?next=\/tv\/live\">SquashTV<\/a> or the official Facebook page of the <a href=\"https:\/\/www.facebook.com\/PSAworldtour\/\">PSA World Tour<\/a> (excluding Europe and Japan). You can also <a href=\"https:\/\/www.ticketsmarche.com\/cib-psa-black-ball-open-2021_se_2034.html\">snag tickets online<\/a> to attend in person at the Black Ball Sporting Club in New Cairo.<\/p>\n<p><strong>KUDOS- Egypt\u2019s Nour El Sherbini won the women\u2019s squash league<\/strong>, after <a href=\"https:\/\/psaworldtour.com\/tournaments\/view\/11508?tab=womens_results\">beating<\/a> USA\u2019s Amanda Sobhy on Thursday.<\/p>\n<p><strong>Prime Minister Mostafa Madbouly will be visiting Amman this Tuesday<\/strong> to attend a meeting of the Joint Jordanian-Egyptian Higher Committee, Jordan\u2019s news agency <a href=\"https:\/\/petra.gov.jo\/Include\/InnerPage.jsp?ID=58846&lang=ar&name=local_news\">Petra<\/a>reported.<\/p>\n<p><strong><a href=\"https:\/\/www.therealgate.com\/visit\/register-your-interest-to-visit\/\">The Real Gate real estate exhibition<\/a><\/strong><strong> will kick off on Thursday<\/strong> and run until Saturday at the Egyptian International Exhibition Center.<\/p>\n<p><strong>The Spring Flowers Exhibit (<\/strong><strong><a href=\"https:\/\/www.facebook.com\/alzehor\/\">Ma3rad El Zohoor<\/a><\/strong><strong>) is currently taking place <\/strong>at Orman Botanical Garden in Giza. More than 200 exhibitors have set up shop to sell flowers, plants, agricultural products, and gardening equipment. The exhibit runs through 13 April.<\/p>\n<p><strong>The International Exhibition of Materials and Technologies for Finishing and <\/strong><strong>Construction (<\/strong><strong><a href=\"https:\/\/turnkeyexhibition.com\/\">Turnkey Expo<\/a><\/strong><strong>)<\/strong> is taking place from 17-20 June at the Cairo International Conference Center. The second edition of the expo will feature 48 exhibitors and 172 brands from across the region.<\/p>\n<p><strong>AUC Press\u2019s <\/strong><strong><a href=\"http:\/\/bit.ly\/3rl944d\">Mad March<\/a><\/strong><strong> book sale will be ongoing for the rest of the month. <\/strong>The sale is open to the general public every day from 10am\u20136pm CLT at AUC Tahrir Bookstore & Garden.<\/p>\n<p>? <strong>FOR YOUR COMMUTE-<\/strong><\/p>\n<p><strong>Are you a watch nerd? Or want to dip your toes in that pool?<\/strong> Go check out <a href=\"https:\/\/www.arun.is\/blog\/apple-watch-faces\/\">The iconic<\/a><a href=\"https:\/\/www.arun.is\/blog\/apple-watch-faces\/\">watches that inspired Apple Watch faces<\/a>. <strong>It\u2019s a super-nerdy dive that\u2019s still accessible to newbies<\/strong> who don\u2019t know the difference between a Submariner, a Blancpain and a Speedmaster. Bonus: It has plenty of links if you want to go further down the rabbit hole.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong><a href=\"https:\/\/www.nytimes.com\/interactive\/2021\/03\/18\/magazine\/facial-recognition-clearview-ai.html?referringSource=articleShare\">Your face is not your own:<\/a><\/strong> Remember how the UAE is piloting a program that lets you land in the Emirates armed with nothing more than your face (provided you\u2019re registered in a bunch of local databases? That\u2019s just the tip of the iceberg \u2014 and at least it\u2019s based on informed consent. Then there\u2019s a company called Clearview, which has <strong>scraped the internet for images you\u2019ve put on Facebook, LinkedIn Instagram, Twitter and elsewhere to create a massive database of human faces \u2014 including yours and your family\u2019s. <\/strong>It\u2019s already being used by US law enforcement and intelligence agencies. And it wins in a number of upcoming court battles, the stakes are nothing less than \u201c<strong>giving companies the ability to track us as pervasively in the real world as they already do online.<\/strong>\u201d<\/p>\n<p><strong>Yaphet Kotto has died.<\/strong> The iconic actor is known for his turn as bad guy Dr. Kananga \/ Mr. Big in the James Bond film Live and Let Die as well as for his turn in Alien. But if you\u2019ve never seen him play Lt. Al Giardello on the crime drama <a href=\"https:\/\/www.youtube.com\/watch?v=AkGfJbLZtLU\">Homicide: Life on the Street<\/a>? You\u2019re missing out on one of the best performances (alongside Andre Braugher) in one of the late 20th century\u2019s best television shows of any genre. <a href=\"https:\/\/www.nytimes.com\/2021\/03\/16\/arts\/yaphet-kotto-dead.html\">The New York Times\u2019 obit is solid.<\/a><\/p>\n<p><strong>Supply chain woes are getting worse<\/strong>, with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bed29180-626f-4962-a8a6-77280417aa38\">Samsung<\/a> ringing the bell last week, Toyota and Honda saying they <a href=\"https:\/\/www.wsj.com\/articles\/everywhere-you-look-the-global-supply-chain-is-a-mess-11616019081?mod=hp_lead_pos1\">would halt production<\/a> at plants in North America, and a fire at Japanese semiconductor giant <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-21\/automotive-chip-supplies-to-be-hurt-by-renesas-fire-ceo-says?sref=mmeFTDW1\">Renesas Electronics<\/a> stalling production for at least one month. Other than the global chip gap, the world is also experiencing shortages in petrochemicals and manufacturing, alongside pandemic-related problems and crippling weather in places like the US. The disruptions highlight how several forces are coming together to squeeze the world\u2019s supply chains and ultimately cause cost increases and delays for numerous industries.<\/p>\n<p><strong>Fortune magazine agrees with us: <\/strong><strong><a href=\"https:\/\/fortune.com\/2021\/03\/19\/covid-vaccine-passports-coming-soon-airport-near-you\/\">Like it or not, vaccine passports are coming soon<\/a><\/strong><a href=\"https:\/\/fortune.com\/2021\/03\/19\/covid-vaccine-passports-coming-soon-airport-near-you\/\">to an<\/a><a href=\"https:\/\/fortune.com\/2021\/03\/19\/covid-vaccine-passports-coming-soon-airport-near-you\/\">airport near you<\/a>. Canada is mulling it, Europe could launch them as early as this summer, and China and Singapore are ahead of everyone else. Fortune talked with a consultant who\u2019s advising Asian governments and businesses on \u201cvaccine passports and other digital health solutions.\u201d<\/p>\n<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT-<\/strong><\/p>\n<p>(All times in CLT)<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>The ultimate Mother\u2019s Day film for today: <\/strong><a href=\"https:\/\/www.imdb.com\/title\/tt4180560\/?ref_=ttpl_pl_tt\">Otherhood<\/a> on Netflix follows longtime friends Carol (Angela Bassett), Gillian (Patricia Arquette) and Helen (Felicity Huffman) who feel forgotten on Mother\u2019s Day and embark on a roadtrip to reconnect with their adult sons. The film perfectly depicts a mother\u2019s love and how they often have to redefine their relationships with their children, friends, spouses, and themselves as the years pass by.<\/p>\n<p><strong>Other classics you can watch on Netflix tonight: <\/strong>Make it a throwback movie night today with films including <a href=\"https:\/\/www.imdb.com\/title\/tt3783958\/\">La La Land<\/a>, <a href=\"https:\/\/www.imdb.com\/title\/tt0125439\/\">Notting Hill<\/a>, or <a href=\"https:\/\/www.imdb.com\/title\/tt3281548\/\">Little Women<\/a>.<\/p>\n<p><strong>The English Premier League\u2019s gameweek 29 is coming to a close today<\/strong>, with West Ham set to play Arsenal at 5pm while Aston Villa will go head-to-head against the Spurs tonight at 9:30pm.<\/p>\n<p><strong>La Liga has a couple of reasonably anticipated matches on today,<\/strong> the most important of which are Atletico Madrid against Alaves at 7:30pm and Real Sociedad against Barcelona at 10pm. That last one is the pair\u2019s fifth match against each other as they try to catch up to Atletico at the top.<\/p>\n<p><strong>Juventus will hit the field against Benevento soon in Serie A<\/strong>, with the match to start at 4pm. Meanwhile, you can also catch Fiorentina vs. Milan tonight at 7pm and Roma vs. Napoli at 9:45pm.<\/p>\n<p><strong>Chelsea and Sheffield United have just about started their match in the FA Cup<\/strong> and will be followed by Leicester City and Man United at 7pm.<\/p>\n<p><strong>? EAT THIS TONIGHT- <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Mother\u2019s Day dinners you can take mama to today: <\/strong>If you hurry you can still catch <strong><a href=\"https:\/\/fb.me\/e\/1joVodsGM\">Eish and<\/a><\/strong><strong><a href=\"https:\/\/fb.me\/e\/1joVodsGM\">Malh<\/a><\/strong>\u2019s Mother\u2019s Day Dinner with live music, starting at 5pm. Meanwhile, <strong><a href=\"https:\/\/www.facebook.com\/events\/2869462603327011\/\">Piazzini<\/a><\/strong> in New Cairo is hosting a Mother\u2019s Day dinner complete with classic Egyptian songs played live while you eat. Dinner service starts at 8pm today and we recommend you treat your mom to their lasagna. At the <strong><a href=\"https:\/\/www.instagram.com\/p\/CMcTRMGn-_Z\/?igshid=1v2ade8w6ny3b\">Hilton Zamalek<\/a><\/strong>, Mom eats tonight without charge at any of the hotel\u2019s restaurants as long as she\u2019s accompanied by three or more people. <strong><a href=\"https:\/\/www.facebook.com\/216642161734702\/posts\/3933855403346674\/?d=n\">Kempinski Nile Hotel<\/a><\/strong> has a similar offer for two adult guests taking their mama out for lunch or dinner at the Blue Restaurant. <strong><a href=\"https:\/\/www.instagram.com\/p\/CMRd_l1ALwV\/?igshid=6i4k8q61pw03\">Crave<\/a><\/strong> is also offering a photoshoot for mothers and their loved ones at City Centre Almaza, The Waterway, Arkan Plaza, Mall of Arabia, and The Park MOA today.<\/p>\n<p>?<strong> OUT AND ABOUT-<\/strong><\/p>\n<p>(All times in CLT)<\/p>\n<p><strong>The French Institute in Cairo has launched <\/strong><strong><a href=\"https:\/\/www.ifegypte.com\/accueil\/mediatheques\/micro-folie\/\">Micro-Folie<\/a><\/strong>, a gallery showing around 500 art pieces from major French and international institutions. Visitors to the gallery will be given tablets synchronized with the art displays to explain the details of the work \u2014 and allow visitors to interact with the work in the case of digital art. You can drop in for a visit on Fridays and Sundays from 2-4pm and Wednesdays from 4-6pm.<\/p>\n<p><strong>AUC theatre performance <\/strong><strong><a href=\"https:\/\/www.aucegypt.edu\/speakup\/msh-zanbek-theatre-performance\">Msh Zanbek<\/a><\/strong><strong> is hitting the stage starting tomorrow<\/strong> with the plays exploring the issue of [redacted] harassment from multiple perspectives: family and couple, bystander, victim and perpetrator, male and female, power and incapacity. Msh Zanbek will show at AUC New Cairo tomorrow, Tuesday, and Wednesday at 5pm as well as at AUC Tahrir next Tuesday and Wednesday (30-31 March) at 5pm. The play features over 50 AUC students and alumni working as directors, playwrights, actors, designers and managers.<\/p>\n<hr class=\"grey-line\">\n<p><strong>? <\/strong><strong>TOMORROW\u2019S WEATHER- <\/strong>You can expect dry, hot and dust-laden weather to stay with us until Tuesday, the <a href=\"http:\/\/bit.ly\/2QtFMTr\">national weather service<\/a> says. We\u2019re looking at daytime highs of 35\u00b0C and nighttime \u201clows\u201d of 25\u00b0C tomorrow with a 30% chance of rain in the capital city, our favorite weather app forecasts.<\/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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fgm\/\">FGM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mostafa-madbouly\/\">Mostafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/senate\/\">Senate<\/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=\"565112\" 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 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<a draggable=\"false\" href=\"https:\/\/www.beltoneholding.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27484.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Where disruption meets success<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-ui645zg\" data-v=\"4\" data-block-id=\"ui645zg\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ui645zg-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ui645zg-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                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" 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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=\"565113\" 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=\"565113\">\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\">SPEED ROUND: COMPETITION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/21\/eastern-company-confirms-ongoing-tender-that-would-kind-of-end-its-tobacco-monopoly\/\">\r\n                            Eastern Company confirms ongoing tender that would (kind of) end its tobacco monopoly                        <\/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\/2021\/03\/21\/eastern-company-confirms-ongoing-tender-that-would-kind-of-end-its-tobacco-monopoly\/\" 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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monopoly&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/21\/eastern-company-confirms-ongoing-tender-that-would-kind-of-end-its-tobacco-monopoly\/\">\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\/2021\/03\/21\/eastern-company-confirms-ongoing-tender-that-would-kind-of-end-its-tobacco-monopoly\/&title=Eastern Company confirms ongoing tender that would (kind of) end its tobacco monopoly\">\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=Eastern+Company+confirms+ongoing+tender+that+would+%28kind+of%29+end+its+tobacco+monopoly+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F21%2Feastern-company-confirms-ongoing-tender-that-would-kind-of-end-its-tobacco-monopoly%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\/2021\/03\/21\/eastern-company-confirms-ongoing-tender-that-would-kind-of-end-its-tobacco-monopoly\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/507.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"565114\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/21\/eastern-company-confirms-ongoing-tender-that-would-kind-of-end-its-tobacco-monopoly\/507-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/507.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"507.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/507.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/507.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-565113\" class=\"content-area-description single-story post-565113 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-competition-watch tag-competition-watch tag-eastern-company tag-enterprisepm tag-manufacturing 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-01\"><\/a> <strong>Tobacco monopoly Eastern Company has confirmed we\u2019re about to see a <\/strong><strong>new <\/strong><strong>competitor: <\/strong>Several companies were invited to bid to become Egypt\u2019s second major tobacco company in a tender issued by the Industrial Development Authority (IDA), state-owned cigarette manufacturer Eastern Company said in <a href=\"https:\/\/ent.news\/2021\/3\/Eastern-Co-EN-21-03-2021.pdf\">a filing to the EGX (pdf)<\/a>. The statement confirms local press <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/37788807-9726-457b-9df0-f4fca702d0f2\">reports over the weekend<\/a> that the government is looking to potentially end Eastern\u2019s decades-long grip over the industry by issuing a license to a competitor.<\/p>\n<p><strong>Terms and conditions of the tender protect Eastern\u2019s market share<\/strong> by preventing the new player from producing cigarettes in the Cleopatra brand mass price category, which accounts for 98% of Eastern\u2019s revenues, reads the EGX disclosure. \u201cAccordingly, this will guarantee that there is no competitive threat,\u201d it adds.<\/p>\n<p><strong>Under the terms of the tender, Eastern will also end up owning 24% of the planned company<\/strong>, and the new company would be forced to price its popular brands 50% higher than Eastern\u2019s, the statement confirmed.<\/p>\n<p><strong>Giving their client-turned-competitor a chance to leap-frog into new products such as e-cigarettes appears to be what Eastern fears most, <\/strong>according to the statement. None of Eastern\u2019s existing manufacturing agreements cover next-generation tobacco products, which the new license will cover, meaning its clients could opt to manufacture non-traditional products like e-cigarettes and the like at the competitor\u2019s facility. Those manufacturing agreements are important, Eastern\u2019s CEO Hany Aman told Enterprise, despite a series of \u201coperational efficiency improvements\u201d that have made it less dependent on contract manufacturers.<\/p>\n<p><strong>Eastern is touting the benefits of a duopoly. <\/strong>\u201cCompetition is always in the consumer's benefit, and at the international level it raises Egypt's rating [from investment rating agencies],\u201d the company said. As we noted this morning, the tender\u2019s conditions were criticized by major tobacco distributors who would like to get the chance to manufacture. They argue that, because only one license is up for grabs, the winning company would gain an unfair advantage.<\/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\/competition-watch\/\">competition watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eastern-company\/\">Eastern Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/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=\"565115\" 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=\"565115\">\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\">SPEED ROUND: E-COMMERCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/21\/egypt-fuels-2020-mena-e-commerce-boom\/\">\r\n                            Egypt fuels 2020 MENA e-commerce boom                        <\/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\/2021\/03\/21\/egypt-fuels-2020-mena-e-commerce-boom\/\" 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\/2021\/03\/21\/egypt-fuels-2020-mena-e-commerce-boom\/')\">\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\/2021\/03\/21\/egypt-fuels-2020-mena-e-commerce-boom\/\">\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=Egypt fuels 2020 MENA e-commerce boom&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/21\/egypt-fuels-2020-mena-e-commerce-boom\/\">\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\/2021\/03\/21\/egypt-fuels-2020-mena-e-commerce-boom\/&title=Egypt fuels 2020 MENA e-commerce boom\">\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=Egypt+fuels+2020+MENA+e-commerce+boom+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F21%2Fegypt-fuels-2020-mena-e-commerce-boom%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\/2021\/03\/21\/egypt-fuels-2020-mena-e-commerce-boom\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/508.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"565116\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/21\/egypt-fuels-2020-mena-e-commerce-boom\/508-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/508.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"508.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/508.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/508.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-565115\" class=\"content-area-description single-story post-565115 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-e-commerce tag-digitization tag-e-commerce tag-enterprisepm tag-fintech tag-mena tag-mit tag-saudi-arabia tag-uae tag-wamda 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-02\"><\/a> <strong>Egypt, Saudi Arabia and the UAE led a boom in e-commerce in the MENA region <\/strong><strong>last year<\/strong>, as the covid-19 pandemic forced consumers online, according to <a href=\"https:\/\/www.wamda.com\/research\">a new study<\/a> published last week. The value of the region\u2019s e-commerce sector surged 52% to reach USD 22 bn by the end of 2020 \u2014 80% of which came from Egypt, Saudi Arabia and the UAE, Wamda and MIT\u2019s Legatum Center for Development and Entrepreneurship found.<\/p>\n<p><strong>Amazon\u2019s Souq and online marketplace Noon dominated the sector<\/strong>, accounting for more than 50% of the market share in MENA. The two companies, alongside smaller operators such as Talabat (previously Otlob), built the digital and physical infrastructure necessary to operate in the region, boosting investor confidence in regional e-commerce and marketplace startups, the report said.<\/p>\n<p><strong>The e-commerce boom created a ripple effect across logistics and fintech: <\/strong>The increase in online shopping caused growth in the delivery and online payments sectors, with investments in fintech across the region more than doubling to USD 78 mn during the year. The spread of Egypt\u2019s Fawry \u2014 which became the first Egyptian company to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bacf711c-ba11-4aa2-9977-3d254e2683f5\">achieve a market cap of USD 1 bn<\/a> last year \u2014 has enabled the unbanked population to more easily make online transactions, while the last-mile delivery sector grew in tandem to satisfy increased demand, accelerating the adoption of new technologies to improve logistical infrastructure.<\/p>\n<p><strong>The e-commerce space had already been on the rise pre-pandemic: <\/strong>Some <a href=\"https:\/\/magnitt.com\/research\/2019-mena-e-commerce-venture-investment-report-50698\">USD 665 mn was invested in e-commerce startups in MENA<\/a> from 2016-2019, accounting for almost 20% of the total amount invested in startups during this period.<\/p>\n<p><strong>Today, 80% of young Arabs shop online frequently, compared to 71% in 2019<\/strong>, with half of MENA\u2019s youth population saying their online shopping became more frequent after the pandemic, the Wamda report said.<\/p>\n<p><strong>The trend is set to continue this year:<\/strong> MENA e-commerce is poised to grow by 35% y-o-y in 2021 to reach around USD 30 bn \u2014 double its value in 2019. Some 47% of consumers in the region expect to shop online more frequently in 2021, with almost 40% of Egyptian consumers saying the same.<\/p>\n<p><strong>A new normal: <\/strong>Accelerating e-commerce growth in the region should take place in a way that can \u201cencourage and strengthen regional cooperation and further develop government policies for online purchases and supply,\u201d the report said. Countries should implement policies that enable more digital payment solutions in cross-border transactions and reinforce trust between consumers and firms, as well as supporting startups through credit facilities and incentives. The region should also aim to set up a unified customs market that will provide startups with a larger capacity to scale while promoting investor confidence.<\/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\/digitization\/\">digitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-commerce\/\">e-commerce<\/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\/mena\/\">MENA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mit\/\">MIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wamda\/\">Wamda<\/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=\"565117\" 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=\"565117\">\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\">SPEED ROUND: MACRO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/21\/recovery-may-not-trickle-down-to-ems-imf\/\">\r\n                            Recovery may not trickle down to EMs -IMF                        <\/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\/2021\/03\/21\/recovery-may-not-trickle-down-to-ems-imf\/\" 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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Okamoto appears to be co-signing on the Biden administration\u2019s USD 1.9 tn covid-19 stimulus, hinting that the upgrade would in part happen because of the move.<\/p>\n<p><strong>What\u2019s the WEO? <\/strong>The IMF\u2019s World Economic Outlook is released in <a href=\"https:\/\/www.imf.org\/en\/Publications\/WEO\/Issues\/2020\/04\/14\/weo-april-2020\">April<\/a> and <a href=\"https:\/\/www.imf.org\/en\/Publications\/WEO\/Issues\/2020\/09\/30\/world-economic-outlook-october-2020\">October<\/a> with occasional updates in between. It\u2019s the most closely watched barometer of what to expect from global growth and the macro trends that drive economies. <strong>The next WEO is due out in April.<\/strong><\/p>\n<p><strong>But it\u2019s not looking good for EMs,<\/strong> with Okamoto warning of \u201cworrying signs\u201d of a widening gap between advanced economies and emerging markets.The fund projects that cumulative income per capita will be 22% lower in developing countries (excluding China) between 2020 and 2022 compared to expected levels had there not been a pandemic due to these risks, Okamoto added.<\/p>\n<p><strong>A large part of it is vaccine diplomacy:<\/strong> Among the biggest risks Okamoto highlighted in his speech is the lack of access to vaccines in developing countries compared to advanced economies. \u201cIt was unclear how long the pandemic would last and access to vaccines remained very uneven, across both advanced and emerging economies,\u201d he says.<\/p>\n<p><strong>Fiscal spending in 2021 would be constrained in these countries as a resul<\/strong>t, he warned, with some countries having little scope to boost spending to mitigate the pandemic\u2019s economic impact, especially low-income countries with high debt levels. \u201cTighter financial conditions could exacerbate vulnerabilities in countries with high public and private debt,\u201d he said, citing recent increases in bond yields garnered by market expectations of an earlier withdrawal of monetary stimulus.<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-round-macro\/\">SPEED ROUND: MACRO<\/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=\"565118\" 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=\"565118\">\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\">GO WITH THE FLOW<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/21\/who-are-the-foreign-buyers-in-the-egx-then-vs-now\/\">\r\n                            Who are the foreign buyers in the EGX? Then vs now.                        <\/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\/2021\/03\/21\/who-are-the-foreign-buyers-in-the-egx-then-vs-now\/\" 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\/2021\/03\/21\/who-are-the-foreign-buyers-in-the-egx-then-vs-now\/')\">\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\/2021\/03\/21\/who-are-the-foreign-buyers-in-the-egx-then-vs-now\/\">\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=Who are the foreign buyers in the EGX? Then vs now.&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/21\/who-are-the-foreign-buyers-in-the-egx-then-vs-now\/\">\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\/2021\/03\/21\/who-are-the-foreign-buyers-in-the-egx-then-vs-now\/&title=Who are the foreign buyers in the EGX? Then vs now.\">\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=Who+are+the+foreign+buyers+in+the+EGX%3F+Then+vs+now.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F21%2Fwho-are-the-foreign-buyers-in-the-egx-then-vs-now%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\/2021\/03\/21\/who-are-the-foreign-buyers-in-the-egx-then-vs-now\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-565118\" class=\"content-area-description single-story post-565118 post type-post status-publish format-standard hentry category-go-with-the-flow tag-economy tag-emerging-markets tag-enterprisepm tag-frontier-markets tag-go-with-the-flow tag-renaissance-capital 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-04\"><\/a> <strong>Who are the foreign buyers in the EGX? Then vs now:<\/strong> In the great <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7a867c5b-e75b-4e7a-a096-4ac71c6f9a07\">March selloff of 2020<\/a>, the EGX saw the sharpest single-day decline since 2012, falling 9.3% to catch up with global equity markets, which tumbled the previous week as the covid-19 pandemic put travel bans and lockdowns into effect across the globe. Foreign institutional investors have largely been sitting on the sidelines of the market ever since, leaving the market to be dominated by retail investors.<\/p>\n<p><strong>IN THE HOT SEAT TODAY<\/strong>- Renaissance Capital\u2019s head of MENA research <strong>Ahmed Hafez<\/strong>, Beltone Securities\u2019 senior VP of institutional sales <strong>Mohammad A. Waked.<\/strong><\/p>\n<p> <strong>Historically, the biggest buyers of Egyptian equity stories are the frontier market funds<\/strong>, which \u201cat one point in time had 10-11% invested in Egypt, which is sizable for an off-benchmark market,\u201d says RenCap\u2019s Hafez. This reflects the \u201csqueeze\u201d that\u2019s happening to frontier markets as more are upgraded to emerging market status \u2014 and the limited investment opportunities for frontier fund managers, he adds.<\/p>\n<p><strong>But even the frontier market funds were among the biggest to exit in the March selloff<\/strong>, sending their exposure to Egypt down to lows of 7-8%, he says. It\u2019s natural in a risk-off.<\/p>\n<p><strong>A pre-covid lull made worse: <\/strong>\u201cMost foreign investors were not increasing their positions in 2019,\u201d says Hafez. By the end of 2020, based on a trend indicator of the net international investment position number against the percentage of total market cap, \u201cwe were looking at 5-6 year lows of foreign ownership in the market.\u201d But take this with a grain of salt, he says, \u201cas it\u2019s not a proxy of the actual overall ownership in the market, as it doesn\u2019t take into account GDRs, and ownership past a certain threshold are calculated as foreign direct investment.\u201d<\/p>\n<p><strong>\u201cThe foreigners who didn\u2019t exit last March are not currently active,\u201d <\/strong>says Beltone\u2019s Waked. \u201cWhen they take positions now, they hold them for shorter periods of time,\u201d he adds. \u201cWe had captured decent inflows for Ibnsina Pharma, but they immediately cut their losses during the issues over 3elagi,\u201d he adds, citing the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/70200699-99db-4429-9c60-bb8426702b15\">Pharmacist Syndicate boycott of Ibnsina Pharma<\/a> in November over <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce1c5ed4-2fb9-4921-9ab6-fdd84a8c875a\">its acquisition<\/a> of a 75% stake in the pharma app.<\/p>\n<p><strong>Egypt is on the fringe of global emerging-market funds<\/strong>, says Hafez, by virtue of Egypt\u2019s 0.1% weight in the MSCI EM index. And many investors who do take positions in Egypt are simply buying CIB as a proxy for the wider market, he adds.<\/p>\n<p><strong>Appetite for commodity-based names improved only relatively in 1Q2021, but primarily among local investors<\/strong>, and to a lesser extent in GCC institutions, says Waked. Foreign appetite for two of the sector\u2019s biggest names has been muted: ElSewedy Electric could be bumped from the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8c76fb81-6f1e-470c-a318-81ad04ed305a\">MSCI EMs index<\/a> by Fawry, while Abu Qir Fertilizers isn\u2019t about to offer another stake soon as it looks to get a new <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1654e4fd-450b-4ecd-b4e8-5f63968bf970\">new fair value<\/a> report.<\/p>\n<p><strong>\u201cThe consumer and traditional banking sectors are seeing less enthusiasm in favor of the penetration story,\u201d <\/strong>says Hafez, citing fintech, education, and healthcare among the underserved industries.<\/p>\n<p><strong>That said, \u201cearly signs are positive\u201d that the foreigners are coming back,<\/strong> based on the low level of ownership, the high valuation gap between MSCI EM and Egypt, and inflows early in the year, says Hafez, who argues this could spill over to regional investors as well.<\/p>\n<p><strong>African funds, even in most dire times, maintained \u201csignificant\u201d exposure to Egypt<\/strong>, he adds, citing Egypt\u2019s attractiveness relative to other African markets, despite any economic issues Egypt was facing pre-EGP float. What\u2019s more, sizeable South African funds have a mandate to make minimum commitments to African equities outside South Africa, effectively channeling AUM to Cairo, Nairobi and Lagos.<\/p>\n<p><strong>Ultimately, only a wave of IPOs will change the stocks foreign investors are looking at<\/strong>, says Beltone\u2019s Waked. \u201cFor the big players, the issue remains a lack of investment options that qualify for mandates from a liquidity perspective,\u201d says RenCap\u2019s Hafez.<\/p>\n<hr class=\"grey-line\">\n<p><strong>The EGX30 fell 1.1% at today\u2019s close<\/strong> on turnover of EGP 696 mn (52.8% below the 90-day average). Regional investors were net sellers. The index is down 0.4% YTD.<\/p>\n<p><strong>In the green: <\/strong>Eastern Co. (+2.0%), Orascom Investment (+1.6%) and Orascom Financial (+1.0%).<\/p>\n<p><strong>In the red: <\/strong>GB Auto (-5.2%), Ibnsina Pharma (-4.7%) and Heliopolis Housing (-4.2%).<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/frontier-markets\/\">frontier markets<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renaissance-capital\/\">Renaissance Capital<\/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=\"565119\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"565120\" 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=\"565120\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON THE HORIZON<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/21\/what-to-expect-from-the-wtos-new-director-general\/\">\r\n                            What to expect from the WTO\u2019s new director-general                        <\/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\/2021\/03\/21\/what-to-expect-from-the-wtos-new-director-general\/\" 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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Many have questioned whether the organization can remain effective amid a rise in protectionism (most recently manifested in the <a href=\"https:\/\/www.economist.com\/graphic-detail\/2021\/02\/01\/vaccine-protectionism-endangers-the-global-fight-against-covid-19\">vaccine protectionism<\/a> hampering global rollouts) and the increasing weaponization of trade by the world\u2019s two most powerful countries. Created in 1995 to oversee trade rules among nations, the WTO suffered a crisis of leadership after its director-general, Roberto Azavedo, <a href=\"https:\/\/www.reuters.com\/article\/us-trade-wto\/damaged-wto-now-leaderless-as-chief-azevedo-steps-down-idUKKBN25R170?edition-redirect=uk\">stepped down last year<\/a>, leaving the organization leaderless \u2014 until <a href=\"https:\/\/www.bbc.com\/news\/business-55958682\">the election of Joe Biden to the US presidency paved the way<\/a> for the appointment of Nigerian economist Ngozi Okonjo-Iweala in <a href=\"https:\/\/www.wto.org\/english\/thewto_e\/dg_e\/dg_e.htm\">February<\/a>.<\/p>\n<p><strong>New face, new life?<\/strong> Okonjo-Iweala is the first woman, and first African, to head the WTO, and her appointment was heralded by some as a chance to breathe new life into the organization. With all eyes on her as she takes the helm, key issues she is expected to move on include:<\/p>\n<p><strong>#1 - Getting the <\/strong><strong><a href=\"https:\/\/www.wto.org\/english\/tratop_e\/dispu_e\/appellate_body_e.htm\">appellate body<\/a><\/strong><strong> back on track:<\/strong> The WTO\u2019s dispute settlement system has been paralyzed since the <a href=\"https:\/\/www.cambridge.org\/core\/journals\/american-journal-of-international-law\/article\/united-states-continues-to-block-new-appellate-body-members-for-the-world-trade-organization-risking-the-collapse-of-the-appellate-process\/EF3F564A66D3CDE698A9DFFF8FAEF77C\">Trump administration vetoed<\/a> the appointment of new members to its vacant seats, claiming that the seven-member body\u2019s rulings are <a href=\"https:\/\/www.piie.com\/blogs\/trade-and-investment-policy-watch\/us-china-trade-disputes-wto-usually-sides-united-states\">routinely harmful to US interests.<\/a> \u201cA refreshed WTO must find solutions to the stalemate on disputes settlement,\u201d Okonjo-Iweala <a href=\"https:\/\/currentthoughtsontrade.com\/2021\/02\/08\/dr-ngozi-okonjo-iweala-a-review-of-her-statements-on-important-issues-before-the-wto-ahead-of-her-being-confirmed-as-the-director-general\/\">said during a speech at a conference before her appointment<\/a>.<\/p>\n<p><strong>A key goal will be appointing new adjudicators so it can accept new appeals and issue legally binding decisions on international trade disputes.<\/strong> Though Trump\u2019s is not the only US administration, historically speaking, to have blocked appointments to the appellate body, the Biden administration may prove more amenable to a compromise. Okonjo-Iweala has also referenced \u201cupdating the rulebook\u201d for the body, which may imply that she intends to change the mechanism whereby one country can block the functioning of the dispute settlement process altogether.<\/p>\n<p><strong>#2- Holding China to account: <\/strong>China\u2019s refusal to adhere to some requirements of the WTO (which it joined in 2001) has been a sore spot for members, particularly the US, whose representatives have claimed the WTO has let China <a href=\"https:\/\/www.bbc.co.uk\/news\/business-54168419\">get away with intellectual property theft<\/a> when it comes to US tech. China\u2019s <a href=\"https:\/\/www.brookings.edu\/testimonies\/issues-in-chinas-wto-accession\/\">high tariffs and other non-tariff barriers<\/a> have meant that some sectors of the economy are still insulated from international trade and competition, contravening WTO rules.<\/p>\n<p><strong>Okonjo-Iweala has implied that she will be taking a softer approach than some would hope on China\u2019s non-compliance<\/strong>, saying that she will ensure all members feel their balance of rights and obligations are fair, implying she doesn\u2019t plan to push very hard on China to adhere to the WTO\u2019s policies. On curbing sanctions between the US and China, Okonjo-Iweala said, \u201cit is very clear that both the US and China have been helped by the multilateral trading system in the past,\u201d and that her approach will involve <a href=\"https:\/\/nairametrics.com\/2020\/08\/12\/wto-job-okonjo-iweala-reveals-how-to-resolve-the-rift-between-us-and-china\/\">reminding both sides of shared trade benefits<\/a> and listening to China\u2019s grievances.<\/p>\n<p><strong>#3- Ensuring the unhindered movement of vaccines and medicines: <\/strong>As the former chairperson of vaccine alliance Gavi, ensuring the movement of vaccines and medicines will be one of Okonjo-Iweala\u2019s top priorities. \u201cIn the longer term we have to make sure we have an open, flexible trading system that allows imports or exports of these medicines and medical supplies and vaccines to countries that cannot manufacture them,\u201d she said. In another sense, helping economies bounce back from the effects of covid-19 by using trade as an instrument of economic recovery is also on Okonjo-Iweala\u2019s roster.<\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ngozi-okonjo-iweala\/\">Ngozi Okonjo-Iweala<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/on-the-horizon\/\">ON THE HORIZON<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-trade-organization\/\">World Trade Organization<\/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=\"565122\" 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\/2021\/03\/21\/your-essential-business-calendar-on-21-march-2021-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-565122\" class=\"content-area-description single-story post-565122 post type-post status-publish format-standard hentry category-calendar tag-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>March: Potential visit to Cairo by Russian President Vladimir Putin.<\/p>\n<p>23 March (Tuesday): The second edition of the <a href=\"https:\/\/tinyurl.com\/vf98kbgf\">Egypt Retail Summit<\/a> takes place at the Nile Ritz Carlton hotel.<\/p>\n<p>23 March (Tuesday): The British-Egyptian Business Association (BEBA) virtual conference on sustainable manufacturing in Africa.<\/p>\n<p>23 March (Tuesday): AUC Women on Boards Observatory event to launch 2020 annual monitoring report.<\/p>\n<p>25-27 March (Thursday-Saturday): <a href=\"https:\/\/www.therealgate.com\/visit\/register-your-interest-to-visit\/\">The Real Gate real estate exhibition<\/a>, Egyptian International Exhibition Center, Cairo.<\/p>\n<p>29-30 March (Monday-Tuesday): <a href=\"https:\/\/arab-exchanges.org\/conference\/\">Arab Federation of Exchanges Annual Conference<\/a> 2021.<\/p>\n<p>31 March (Wednesday): Deadline to visit the moroor and get an RFID sticker affixed to your car\u2019s windshield \u2014 or run afoul of the Traffic Police.<\/p>\n<p>31 March (Wednesday): Income tax deadline for individuals. Real estate tax deadline.<\/p>\n<p>1-3 April (Thursday-Saturday): <a href=\"http:\/\/hvacregypt.com\/\">HVAC-R Egypt Expo<\/a>.<\/p>\n<p>6 April (Tuesday): French Chamber of Commerce and Industry in Egypt working breakfast with Sovereign Fund of Egypt CEO Ayman Soliman.<\/p>\n<p>7 April (Wednesday): British-Egyptian Business Association (BEBA) webinar on digital banking and fintech.<\/p>\n<p>8-10 April (Thursday-Saturday): The TriFactory\u2019s Endurance Festival at Somabay.<\/p>\n<p>13 April (Monday): First day of Ramadan (TBC).<\/p>\n<p>25 April (Sunday): Sinai Liberation Day.<\/p>\n<p>29 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC),<\/p>\n<p>29 April (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>1 May (Saturday): Labor Day (national holiday).<\/p>\n<p>2 May (Sunday): Easter Sunday.<\/p>\n<p>3 May (Monday): Sham El Nessim.<\/p>\n<p>13-15 May (Thursday-Saturday): Eid El Fitr (TBC).<\/p>\n<p>25-28 May (Tuesday-Friday): The World Economic Forum annual meeting, Singapore.<\/p>\n<p>1 June (Tuesday): The IMF will conduct a second review of targets set under the USD 5.2 bn standby loan approved in June 2020 (proposed date).<\/p>\n<p>7-9 June (Monday-Wednesday): <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show<\/a>, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>17 June (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>17-20 June (Thursday-Sunday) : The International Exhibition of Materials and Technologies for Finishing and Construction (<a href=\"https:\/\/turnkeyexhibition.com\/\">Turnkey Expo<\/a>), Cairo International Conference Center.<\/p>\n<p>24 June (Thursday): End of the 2020-2021 academic year (public schools).<\/p>\n<p>26-29 June (Saturday-Tuesday): <a href=\"https:\/\/www.thebig5constructegypt.com\/?utm_source=Adestra&utm_medium=email&CID=003D000002UIHn4IAH&utm_campaign=Egyp%5Bt%20postponement%20generic%20exp%20visp&utm_term&utm_content=7014G000001cG3zQAE&CNAME=Enterprise\">The Big 5 Construct Egypt<\/a>, Cairo International Convention Center, Cairo, Egypt.<\/p>\n<p>30 June (Wednesday): 30 June Revolution Day.<\/p>\n<p>30 June- 15 July: National Book Fair.<\/p>\n<p>1 July: (Thursday): National holiday in observance of 30 June Revolution.<\/p>\n<p>1 July (Thursday): Large taxpayers that have not yet signed on on to the e-invoicing platform <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/61c78b1b-ec60-46e8-9760-c995c81f34b9\">will suffer a host of penalties<\/a>, including removal from large taxpayer classification, losing access to government services and business, and losing subsidies.<\/p>\n<p>19 July (Monday): Arafat Day (national holiday).<\/p>\n<p>20-23 July (Tuesday-Friday): Eid Al Adha (national holiday)<\/p>\n<p>23 July (Friday): Revolution Day (national holiday).<\/p>\n<p>5 August (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>9 August (Monday): Islamic New Year.<\/p>\n<p>12 August (Thursday): National holiday in observance of the Islamic New Year.<\/p>\n<p>16 September (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>30 September-2 October (Thursday-Saturday): <a href=\"https:\/\/www.egypt-projects.com\/\">Egypt Projects 2021<\/a> expo, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>1 October (Friday): <a href=\"https:\/\/www.expo2020dubai.com\">Expo 2020 Dubai<\/a> opens.<\/p>\n<p>6 October (Wednesday): Armed Forces Day.<\/p>\n<p>7 October (Thursday): National holiday in observance of Armed Forces Day.<\/p>\n<p>18 October (Monday): Prophet\u2019s Birthday.<\/p>\n<p>21 October (Thursday): National holiday in observance of the Prophet\u2019s Birthday.<\/p>\n<p>28 October (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>1-12 November (Monday-Friday): <a href=\"https:\/\/ukcop26.org\/\">2021 United Nations Climate Change Conference<\/a> (COP26), Glasgow, United Kingdom.<\/p>\n<p>13-17 December: <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/396604\/Egypt\/Politics-\/Egypt-to-host-UN-anticorruption-conference-in-.aspx\">United Nations Convention against Corruption<\/a>, Sharm El Sheikh, Egypt.<\/p>\n<p>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>27 June - 3 July 2022 (Monday-Sunday): <a href=\"https:\/\/www.insidethegames.biz\/articles\/1103867\/fisu-world-university-squash-new-giza\">World University Squash Championships<\/a>, New Giza.<\/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 below 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":565110,"template":"","categories":[],"tags":[],"class_list":["post-565109","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"5755fe5e-248d-4884-89e3-6df85d9cf864","teaser":"","photo_url":"https:\/\/ent.news\/2021\/3\/505.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>Enterprise Egypt fuels 2020 MENA e-commerce boom - 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\/enterprise-egypt-fuels-2020-mena-e-commerce-boom\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enterprise Egypt fuels 2020 MENA e-commerce boom\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-egypt-fuels-2020-mena-e-commerce-boom\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T04:50:03+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/505.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\/enterprise-egypt-fuels-2020-mena-e-commerce-boom\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-egypt-fuels-2020-mena-e-commerce-boom\/\",\"name\":\"Enterprise Egypt fuels 2020 MENA e-commerce boom - 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