{"id":705363,"date":"2026-05-25T00:00:00","date_gmt":"2026-05-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=705363"},"modified":"2026-05-25T02:42:12","modified_gmt":"2026-05-25T02:42:12","slug":"kpmg-considers-ending-41-year-partnership-with-hazem-hassan","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/kpmg-considers-ending-41-year-partnership-with-hazem-hassan\/","title":{"rendered":"KPMG considers ending 41-year partnership with Hazem Hassan"},"content":{"rendered":"<section id=\"705365\" 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=\"705365\">\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 TODAY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/netherlands-based-rmbv-looks-to-establish-spac-in-egypt\/\">\r\n                            PE firm RMBV seeks FRA nod to launch SPAC on the EGX                        <\/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\/2026\/05\/25\/netherlands-based-rmbv-looks-to-establish-spac-in-egypt\/\" 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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The retail tranche ran hot at 10.6x oversubscribed with one session left.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>And we go behind the scenes of the CBE\u2019s recent NBFI tightening<\/strong>, speaking to analysts and insiders who see the move as a macroeconomic tool.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>** A QUICK PROGRAMMING NOTE- <\/strong>EnterpriseAM will be joining the rest of you in taking time off for Eid El Adha. We will be back in your inboxes next Monday morning at the same time.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>***<\/strong><\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong><a href=\"https:\/\/omny.fm\/shows\/enterpriseam-egypt\" target=\"_blank\" rel=\"noopener\">WISH THIS MORNING\u2019S ISSUE was a podcast? We\u2019ve got you. Tap or click here<\/a><\/strong> to listen to Morning Drive, a 10-minute version of today\u2019s issue crafted for you to enjoy with your morning coffee, while getting the kids ready for school, <strong>or while stomping around the house wondering where the [redacted] you left your [redacted] reading glasses.<\/strong><\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>***<\/strong><\/p>\n<p class=\"tag-border-left\">One more SPAC<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><a id=\"wwtt1\"><\/a> <strong>Netherlands-based private equity firm RMBV is looking to establish a special<\/strong><strong> purpose acquisition company (SPAC) here at home<\/strong>, submitting a request to the Financial Regulatory Authority for an EGX listing later this year, the <a href=\"https:\/\/asharqbusiness.com\/financial-markets\/133995\/rmbv-%D8%AA%D8%B3%D8%B9%D9%89-%D9%84%D8%AA%D8%A3%D8%B3%D9%8A%D8%B3-%D8%B4%D8%B1%D9%83%D8%A9-%D8%B4%D9%8A%D9%83-%D8%B9%D9%84%D9%89-%D8%A8%D9%8A%D8%A7%D8%B6-%D9%88%D8%B7%D8%B1%D8%AD%D9%87%D8%A7-%D9%81%D9%8A-%D8%A8%D9%88%D8%B1%D8%B5%D8%A9-%D9%85%D8%B5%D8%B1\/\" target=\"_blank\" rel=\"noopener\">Arabic press<\/a> reports. While the target fund size has not been finalized, the blank-check vehicle plans to acquire firms across the consumer goods, industrial, education, and financial services sectors.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Building on a developed footprint: <\/strong>The new SPAC expands RMBV\u2019s already extensive North African portfolio, which includes stakes in EGX-listed Taaleem and Cleopatra Hospitals Group, alongside Tunisia\u2019s Lilas and Algeria\u2019s Cipro. The firm recently deployed its North Africa Fund III to fully acquire grocery retailer <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/11\/19\/mid-market-investment-firm-rmbv-said-to-buy-spinneys-egypt-for-egp-2-5-bn\/\" target=\"_blank\" rel=\"noopener\">Spinneys Egypt<\/a> for roughly EGP 2.5 bn.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Egypt\u2019s blank-check market is slowly taking shape.<\/strong> RMBV\u2019s move follows the listing of impact investor <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/25\/egypts-first-spac-starts-trading-on-the-egx\/\" target=\"_blank\" rel=\"noopener\">Catalyst Partners Middle East<\/a>, which became the country\u2019s first active SPAC after hitting the trading floor following its temporary listing in late 2024. More recently, <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/21\/cbe-expected-to-hold-interest-rates-today-for-second-consecutive-meeting\/\" target=\"_blank\" rel=\"noopener\">OG Capital For Investments<\/a> secured a temporary main-market listing with an initial issued capital of EGP 10 mn. Check out what SPACs are and how they work in <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/22\/enterprise-explains-spacs\/\" target=\"_blank\" rel=\"noopener\">our explainer<\/a>.<\/p>\n<p class=\"tag-border-left\">A tight-knit strategy<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><a id=\"wwtt2\"><\/a> <strong>Oriental Weavers (OW) w<\/strong><strong>ants a bigger slice of its core subsidiaries to <\/strong><strong>maximize return on equity<\/strong>, it said in <a href=\"https:\/\/ent.news\/internal\/704600.pdf\" target=\"_blank\" rel=\"noopener\">a bourse filing (pdf)<\/a>. The carpet manufacturing giant is exploring several options to execute the transaction, primarily through share swaps. The targeted export-focused subsidiaries include Oriental Weavers International (where OW currently holds a 99.99% stake), the Egyptian Fibers Company (88.12%), Oriental Weavers USA (82.68%), Oriental Weavers Textiles (71.44%), and Mac Carpet (58.29%).<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Why it matters:<\/strong> The group already has 65% exposure to USD-denominated revenues, according to the company\u2019s <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/24\/palm-hills-and-oriental-weavers-post-their-1q-2026-earnings\/\" target=\"_blank\" rel=\"noopener\">latest earnings release<\/a>. By increasing its ownership in high-performing subsidiaries \u2014 without consuming banknotes or by monetizing underutilized assets \u2014 the company could further boost its USD inflows and boost return on equity.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Advisors:<\/strong> Oriental Weavers authorized EFG Hermes to study the alternatives and plans to appoint an independent financial advisor to determine fair values, alongside a legal advisor and a tax advisor.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>ALSO- <\/strong>The company\u2019s board signed off on an EGP 350 mn land purchase from Mac Carpet, in a transaction that covers a 32.7k sqm plot of land and its buildings in the 10th of Ramadan City\u2019s industrial zone and represents 4.4% of Oriental Weavers\u2019 total equity. The board also approved an asset disposal program worth EGP 700 mn \u2014 representing 8.8% of the company\u2019s equity \u2014 to liquidate nonproductive residential, commercial, and industrial real estate assets across the country, according to a separate <a href=\"https:\/\/ent.news\/2026\/5\/1443.pdf\" target=\"_blank\" rel=\"noopener\">filing (pdf)<\/a>.<\/p>\n<p class=\"tag-border-left\">Securing the harvest<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><a id=\"wwtt3\"><\/a> <strong>The government has procured 4 mn metric tons of local wheat since the <\/strong><strong>mid-April harvest began<\/strong>, putting it on track to hit its <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/15\/egypt-is-kicking-off-its-most-critical-wheat-harvest-in-years\/\" target=\"_blank\" rel=\"noopener\">5 mn ton target<\/a> before mid-August, <a href=\"https:\/\/www.reuters.com\/ar\/business\/UZCYKG7OCNKJVICJVCSEJFJLO4-2026-05-24\/\" target=\"_blank\" rel=\"noopener\">Reuters<\/a> reports, citing Ahmed Adam, head of the directorates, cooperatives, and training sector at the Agriculture Ministry. The strong intake \u2014 currently outpacing last year by 600k tons \u2014 was driven by offering EGP 2.5k per ardeb, up from last year\u2019s average prices of EGP 2.3k, with a commitment to pay farmers within 48 hours of any contract closing.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>BUT-<\/strong> Despite the record local yield, the country still faces a projected 12.5 mn-ton import gap this year. To structurally reduce this reliance, the government is pushing forward with the New Delta project to add 2.2 mn feddans of arable land, according to Prime Minister Mostafa Madbouly\u2019s <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02wwYFzgehEULgF9WFgxG73RGaD3wFeV2sF2agTE6inzPfnVZ6Caya58DBQdGviC62l\" target=\"_blank\" rel=\"noopener\">remarks<\/a> on Saturday.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Looming global threats:<\/strong> While this year\u2019s harvest is secure, the near-total shutdown of the Strait of Hormuz has <a href=\"https:\/\/enterpriseam.com\/egypt\/inside_industry\/egypt-manages-dual-food-and-fertilizer-crisis-as-hormuz-storm-hits\/\" target=\"_blank\" rel=\"noopener\">choked off up to 45% of the<\/a><a href=\"https:\/\/enterpriseam.com\/egypt\/inside_industry\/egypt-manages-dual-food-and-fertilizer-crisis-as-hormuz-storm-hits\/\" target=\"_blank\" rel=\"noopener\">global seaborne fertilizer trade<\/a>. Surging nitrogen prices threaten to severely reduce future global wheat yields, potentially forcing Egypt to bridge its supply gap in a much tighter, more expensive international market next season.<\/p>\n<p class=\"tag-border-left\">PSA<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>WEATHER- It\u2019s another mild day in Cairo today<\/strong>, with a high of 31\u00b0C and a low of 19\u00b0C, according to our favorite weather app.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>It\u2019s chillier in Alexandria<\/strong>, with a high of 25\u00b0C and a low of 25\u00b0C.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>And over the holiday<\/strong>, expect to see moderate days in the capital (with a high of 30-32\u00b0C) and more springy conditions for our friends on the Mediterranean, with a high of 24-27\u00b0C.<\/p>\n<p class=\"tag-border-left\">The big story abroad<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Despite news of an incoming US-Iran truce<\/strong>, borrowing costs <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-05-24\/bond-strategists-warn-yields-to-stay-high-even-if-iran-war-ends?srnd=homepage-middle-east\" target=\"_blank\" rel=\"noopener\">are expected<\/a> to stay high amid high levels of US borrowing, the whopping debts incurred by the AI boom, and a return to monetary tightening. Even if the conflict resolves soon \u2014 and the inflation caused by costly oil prices subsides \u2014 there is reason to believe the recent spike in long-term yields will not fully abate.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Speaking of which: <\/strong>President Donald Trump <a href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/116629952973301768\" target=\"_blank\" rel=\"noopener\">ordered<\/a> negotiators not to rush into an agreement with Iran, emphasizing that the US naval blockade will \u201cremain in full force\u201d until such a pact is reached. Media affiliated with the Iranian regime <a href=\"https:\/\/www.reuters.com\/world\/us\/trump-says-iran-deal-largely-negotiated-dispute-over-strait-reopening-2026-05-24\/\" target=\"_blank\" rel=\"noopener\">has reported<\/a> that Washington is still obstructing aspects of a potential resolution.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Meanwhile, in outer space: <\/strong>China <a href=\"https:\/\/www.reuters.com\/science\/china-send-astronaut-year-long-space-mission-it-eyes-2030-moon-landing-2026-05-23\/\" target=\"_blank\" rel=\"noopener\">dispatched<\/a> the Shenzhou-23 crewed spaceflight mission yesterday, conveying three astronauts to its space station in efforts to better understand the physiological effects of prolonged periods in space. Beijing has set its sights on a crewed moon landing by 2030.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>ALSO- Is \u2018Gen Z\u2019 a misnomer?<\/strong> Financial Times Business Columnist Pilita Clark <a href=\"https:\/\/www.ft.com\/content\/ff49b595-b5ed-4be9-8cb1-1522b7086b28?syn-25a6b1a6=1\" target=\"_blank\" rel=\"noopener\">suggests<\/a> that our understanding of the so-called Gen Z demographic may be far from the reality. She relies on research, books, and articles to make her case and advise employers not to perpetuate misleading stereotypes about younger people, indicating that older demographics often exhibit similar problems, concerns, and behaviors.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2495.jpg?ssl=1\" \/><\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>In today\u2019s issue:<\/strong> We are unpacking a new OECD report that highlights the stark disconnect between Egypt\u2019s booming academic research output and a private sector that is failing to commercialize it.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food-security\/\">food security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment\/\">investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/spacs\/\">SPACs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/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=\"705366 advertiser\" class=\"issue-section enterprise-adv\">\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=\"705366\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/705366\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-705366\" class=\"content-area-description single-story post-705366 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1314.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:400;\">This Eid al-Adha, Somabay comes alive with sun-drenched days, vibrant beach moments, live music, seaside gatherings, and experiences made to be shared.<br><\/span><\/p>\n<p><span>From 27-31 May, the Spirit of Eid unfolds across the destination with a curated lineup of beach activations, sunset sessions, rooftop beats, family experiences, sports tournaments, workshops, and late-night entertainment set against the stunning backdrop of the Red Sea.<\/span><\/p>\n<\/div>\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=\"705367\" 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=\"705367\">\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\">The Big Story Today<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/kpmg-is-weighing-the-end-of-its-41-year-partnership-with-egyptian-affiliate-hazem-hassan-as-part-of-a-global-restructuring\/\">\r\n                            A 41-year split?                        <\/a>\r\n                    <\/h3>\r\n\r\n  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data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1447.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1447.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-705367\" class=\"content-area-description single-story post-705367 post type-post status-publish format-standard has-post-thumbnail hentry category-the-big-story-today tag-enterpriseam tag-tax tag-the-big-story-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>KPMG is considering restructuring operations in Egypt, in a move that could e<\/strong><strong>nd its 41-year partnership with local affiliate Hazem Hassan<\/strong>, three sources familiar with the matter tell EnterpriseAM. The potential split is part of a broader global restructuring at the Dutch-headquartered accounting and advisory network, the sources say.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s accounting and audit sector is going through significant turbulence that is affecting several major international firms<\/strong>, former head of the Egyptian Tax Authority and current UN international tax advisor Mostafa Kader tells EnterpriseAM. The uncertainty is largely due to Egypt\u2019s continued delay in implementing the OECD\u2019s global minimum tax framework under Pillar Two, which sets a 15% minimum tax rate on multinational corporations, he says. The lack of a clear timeline for adopting the framework has increased uncertainty surrounding international tax treatment and multinational operations in Egypt, he adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>The OECD introduced the Pillar Two model rules in December 2021 as part of a broader initiative to address tax challenges arising from the digitalization of the global economy. Over 135 countries, representing around 90% of global GDP, have endorsed the framework, which establishes a 15% global minimum tax for multinational companies with annual consolidated revenues exceeding EUR 750 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s another reason: <\/strong>One sticking point which Hazem Hassan is taking issue with relates to KPMG\u2019s branding structure, which is reportedly shifting to a franchising model with multiple offices operating under the same trademark in certain markets, two sources close to discussions within Hazem Hassan tell us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KPMG\u2019s partnership with Hazem Hassan remains intact for now.<\/strong> Reports of a finalized exit by September are unfounded, as any separation would require a lengthy transition period to safeguard client relationships and continuity of audited financial statements and balance sheets, one of the Hazem Hassan sources tells us. Negotiations between the two firms are still ongoing in an attempt to preserve the decades-long partnership, the source adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hazem Hassan is already running contingency scenarios<\/strong>, both Hazem Hassan sources tell us. The firm is weighing several options to maintain client stability, including potential alliances with another Big Four firm or a new international franchise agreement, sources say. The priority is retaining multinational clients, many of which require an internationally affiliated audit firm for quarterly reporting and compliance purposes, but the sources say the separation could also create space to bring on new local clients.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The situation isn't confined to Hazem Hassan. <\/strong><strong>It extends to<\/strong><strong> the other three Big Four firms<\/strong> \u2014 Deloitte, PwC, and Ernst & Young, Kader says. The international tax framework now requires careful policy consideration to preserve stability within Egypt\u2019s accounting and advisory sector, he adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A complete redrawing of the map:<\/strong> \u201cThe coming period could see Egypt\u2019s international tax and consulting sector entirely reshaped,\u201d a source at one of the big four accounting firms tells us. \u201cThe market should expect to see clients and talent shifting between firms to meet the requirements of the next phase, alongside potential acquisitions and the creation of new entities that align with international tax controls under OECD rules,\u201d the source adds.<\/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\" 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   \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/korra-energi-private-placement-5-7x-covered-on-egx\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1438.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"705371\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/korra-energi-private-placement-5-7x-covered-on-egx\/1438-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1438.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1438.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1438.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1438.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-705370\" class=\"content-area-description single-story post-705370 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch-2 tag-egx tag-enterpriseam tag-ipo tag-ipo-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Korra Energi\u2019s private placement was 5.7x covered by the close of its subscription window yesterday<\/strong>, with investors placing orders for 845 mn shares against 148.5 mn shares on offer, offering manager Prime Holding\u2019s CEO Yasser Shahin tells EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Retail demand is also running hot.<\/strong> The retail tranche was roughly 10.6x oversubscribed by the end of yesterday\u2019s session, with retail investors booking some 1.04 bn shares for the 99 mn shares tranche. Subscription for the retail tranche is set to close today.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> Korra\u2019s IPO is the EGX\u2019s second private-sector main-market listing this year after <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/gourmet-shares-hit-40-regulatory-limit-in-egx-debut\/\" style=\"\">Gourmet\u2019s blockbuster offering<\/a>. The solid coverage figures signal that local institutions and retail investors are willing to back new listings despite the still uncertain macro and regional backdrop.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER<\/strong><strong>-<\/strong> Korra is <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/18\/korra-energi-opens-the-subscription-window-for-highly-anticipated-ipo\/\" style=\"\">floating 247.5 mn<\/a> existing shares \u2014 around 11% of its share capital \u2014 at EGP 2.97 apiece, putting the offering\u2019s target proceeds at up to EGP 735 mn. The founders scaled back the secondary sale from an initially planned 20%, retaining an 89% controlling stake to capture the company\u2019s anticipated future growth, Korra Energi Vice Chairman Heba Korra tells us. The offer is split 60% to institutional investors and 40% to retail investors. The EGP 2.97 offering price represents a discount compared to the EGP 3.20 fair value set by the independent financial advisor Baker Tilly.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Prime Holding is the offering manager, El Sherif Law Firm & Consultants is serving as counsel, and Baker Tilly is the independent financial advisor.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo\/\">IPO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/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=\"705372\" 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=\"705372\">\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\">NBFIS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/whats-behind-egypts-consumer-finance-crackdown\/\">\r\n                            The real target                        <\/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\/2026\/05\/25\/whats-behind-egypts-consumer-finance-crackdown\/\" 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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Parliament has since joined the fray, with lawmakers filing official briefing requests demanding urgent hearings on the \u201cunregulated expansion\u201d of consumer finance firms. Over the weekend, the Financial Regulatory Authority <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/24\/fra-names-and-shames-nbfi-violators\/\" style=\"\">moved to publicly name NBFI violators<\/a>, setting up a registry of individuals and companies that breach non-banking regulations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Competition or systemic risk?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While critics warn of a potential \u201ccredit bubble,\u201d there is a broader question:<\/strong> Are banking sector concerns truly driven by systemic risks, or by intensifying competition over the highly lucrative retail banking segment?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The numbers don\u2019t support the competition framing.<\/strong> The largest consumer finance company in the market \u2014 which accounts for roughly a quarter of the sector \u2014 generated around EGP 760 mn in profits last year, head of research at Al Ahly Pharos Hany Genena tells EnterpriseAM. CIB posted nearly EGP 82 bn in profits over the same period. \u201cConsumer finance companies are competing aggressively among themselves and with fintech firms, but comparing these companies to major banks is like comparing a cargo ship to a motorcycle in terms of scale,\u201d he says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s total non-bank consumer finance portfolio stood at around EGP 96 bn by end-2025<\/strong> \u2014 up more than fivefold since 2021 \u2014 while CIB alone held an EGP 18 bn credit card portfolio, against roughly EGP 28 bn for the aggregate credit card portfolios of all banks operating in the market, financial analyst Ahmed Ezz El Din tells us. The total number of credit cards issued by all Egyptian banks stood at 6.3 mn by end-2024, according to the CBE.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Different customer bases: <\/strong>\u201cThe non-bank financial sector is serving a completely different customer base that banks had not been reaching in the first place,\u201d Ezz El Din says \u2014 pointing not to competition, but complementarity. \u201cBanks serve customers with stronger [assurances] and higher financial solvency, while non-bank finance companies cater to a broader and smaller-income segment that previously had little or no access to formal financing channels,\u201d he explains.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Factoring in the sector\u2019s guardrails<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Official data suggest that while the non-bank credit footprint is expanding rapidly, it operates under stringent regulatory oversight. <\/strong>The sector comprises roughly 48 licensed companies, 10 of which are directly owned by commercial banks. Others are EGX-listed (such as Valu) or are subsidiaries of listed holding groups, putting them under corporate governance and transparency mandates comparable to banking disclosures. NBFIs are also barred from securing bank lines without prior FRA approval.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Credit breakdown:<\/strong> Total consumer finance extended by NBFIs reached EGP 96.3 bn in 2025, serving more than 10.8 mn customers. By contrast, commercial bank lending to the household sector surged to EGP 1.4 tn, up from EGP 1.14 tn in 2024 \u2014 a structural increase in consumer credit demand as households leverage personal loans and durable-goods financing to buffer inflationary pressure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Delinquency is contained.<\/strong> Non-performing loans across companies and associations under FRA supervision do not exceed 3%, below the globally accepted threshold of around 5%. All consumer finance companies operate within the iScore credit information system, meaning risks are systematically tracked, Ezz El Din says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The regulatory floor has been rising since 2020<\/strong>, with tighter Know-Your-Customer protocols, mandatory iScore registry, and consumer-protection disclosure rules requiring clients to sign off on all fees and interest costs. Unverified lending practices are now concentrated in the informal market. The FRA also requires Basel III compliance across four pillars: capital adequacy and solvency, risk management and provisioning, customer protection and transparency, and ongoing supervision and governance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Why is the CBE acting now?<\/p>\n<p><strong>Genena argues the CBE's move is primarily a macroeconomic tool aimed at controlling inflation and managing liquidity \u2014 not a response to imminent credit distress.<\/strong> \u201cThe central bank is fundamentally trying to control consumer spending because this spending ultimately pressures both the balance of payments and inflation,\u201d he tells us. \u201cConsumer finance is largely concentrated in durable goods, and even locally manufactured products contain a high imported component. The more consumer finance expands, the greater the indirect demand for imports, which increases pressure on the balance of payments at a time when the central bank is trying to preserve exchange rate stability.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Controlling demand without hiking rates:<\/strong> \u201cThe central bank has two tools to control consumption,\u201d Genena says. \u201cThe first is raising interest rates, but that is a non-discriminatory instrument that impacts everyone \u2014 the government, companies, and consumers alike. What is happening now is tighter regulatory oversight on consumer finance companies\u2026 aimed at slowing credit growth and limiting inflationary pressures without resorting to interest rate hikes.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next: <\/strong>Genena expects the regulatory squeeze to extend into the banking sector itself \u2014 potentially through tighter retail lending conditions \u2014 as macroprudential regulation becomes a preferred tool for managing inflation and easing pressure on the balance of payments.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nbfis\/\">NBFIs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nbpl\/\">NBPL<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"705374 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"705374\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/705374\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-705374\" class=\"content-area-description single-story post-705374 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/app2.efghermesone.com\/\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/1133.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"705375\" 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=\"705375\">\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\">A MESSAGE FROM AUC ONSI SAWIRIS SCHOOL OF BUSINESS EXECUTIVE EDUCATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/healthcare-management-in-the-region-from-heroic-effort-to-reliable-systems\/\">\r\n                            Healthcare management in the region: From heroic effort to reliable systems                        <\/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\/2026\/05\/25\/healthcare-management-in-the-region-from-heroic-effort-to-reliable-systems\/\" 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\/2026\/05\/25\/healthcare-management-in-the-region-from-heroic-effort-to-reliable-systems\/')\">\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\/2026\/05\/25\/healthcare-management-in-the-region-from-heroic-effort-to-reliable-systems\/\">\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=Healthcare management in the region: From heroic effort to reliable systems&url=https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/healthcare-management-in-the-region-from-heroic-effort-to-reliable-systems\/\">\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\/2026\/05\/25\/healthcare-management-in-the-region-from-heroic-effort-to-reliable-systems\/&title=Healthcare management in the region: From heroic effort to reliable systems\">\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=Healthcare+management+in+the+region%3A+From+heroic+effort+to+reliable+systems+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F05%2F25%2Fhealthcare-management-in-the-region-from-heroic-effort-to-reliable-systems%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\/2026\/05\/25\/healthcare-management-in-the-region-from-heroic-effort-to-reliable-systems\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1432.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"705376\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/healthcare-management-in-the-region-from-heroic-effort-to-reliable-systems\/1432-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1432.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1432.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1432.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1432.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-705375\" class=\"content-area-description single-story post-705375 post type-post status-publish format-standard has-post-thumbnail hentry category-a-message-from-auc-onsi-sawiris-school-of-business-executive-education tag-a-message-from-auc-onsi-sawiris-school-of-business-executive-education tag-auc tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Healthcare leadership across Egypt and the region is moving from heroic,<\/strong><strong> personality-driven models toward system-led management.<\/strong> For years, hospitals have relied on individuals who carry out operations, solve problems in real time, and compensate for structural gaps. This approach works until it doesn\u2019t. A system built around one person\u2019s capacity has a ceiling.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That ceiling becomes clearer as hospitals handle rising demand, tighter resources, and<\/strong><strong> more complex patient journeys.<\/strong> Across public and private sectors, reliance on \u201cheroic leadership\u201d creates variability, operational bottlenecks, and limits scalability. What resolves daily crises does not deliver consistent performance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The move toward system-based management is now playing out in day-to-day<\/strong><strong> operations.<\/strong> Structured workflows, clearer accountability, and standardized processes are helping hospitals reduce congestion, improve patient flow, and optimize bed utilization. These gains are not driven by individual effort, but by design, enabling consistency and resilience.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This same logic becomes measurable when supported by the right data.<\/strong> By tracking patient outcomes, resource utilization, and key metrics such as length of stay and throughput, organizations can anticipate challenges, align staffing, and enhance safety and quality. Data becomes a management tool, not just a reporting function.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Reliable healthcare systems require managers who can design for consistency, not just<\/strong><strong> respond to pressure.<\/strong> That means building capabilities in operational excellence, systems thinking, and performance management.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That is where executive education becomes practical. <\/strong>Through programs such as the <a target=\"_blank\" href=\"https:\/\/business.aucegypt.edu\/execed\/individual-programs\/healthcare\/hospital-management-operational-excellence-diploma\" style=\"\">Hospital Management and Operational Excellence Diploma<\/a>, the <a target=\"_blank\" href=\"https:\/\/business.aucegypt.edu\/execed\/individual-programs\/healthcare\/healthcare-executive-leadership\" style=\"\">Healthcare Executive Leadership Program<\/a>, and the <a target=\"_blank\" href=\"https:\/\/business.aucegypt.edu\/execed\/individual-programs\/healthcare\/polyclinic\" style=\"\">Polyclinic Executive Edge<\/a>, AUC Onsi Sawiris School of Business Executive Education helps healthcare leaders build capabilities in governance, workflow optimization, and operational resilience.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The transition from individual effort to system performance is no longer optional.<\/strong> It is what determines whether healthcare organizations can scale, sustain quality, and deliver consistent outcomes.<\/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\/a-message-from-auc-onsi-sawiris-school-of-business-executive-education\/\">A MESSAGE FROM AUC ONSI SAWIRIS SCHOOL OF BUSINESS EXECUTIVE EDUCATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/auc\/\">AUC<\/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=\"705377\" 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=\"705377\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/contact-financial-and-mopco-report-1q-earnings\/\">\r\n                            Earnings are in from Contact Financial + Mopco                        <\/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\/2026\/05\/25\/contact-financial-and-mopco-report-1q-earnings\/\" 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\/2026\/05\/25\/contact-financial-and-mopco-report-1q-earnings\/')\">\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\/2026\/05\/25\/contact-financial-and-mopco-report-1q-earnings\/\">\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=Contact Financial and Mopco report 1Q earnings&url=https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/contact-financial-and-mopco-report-1q-earnings\/\">\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\/2026\/05\/25\/contact-financial-and-mopco-report-1q-earnings\/&title=Contact Financial and Mopco report 1Q earnings\">\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=Contact+Financial+and+Mopco+report+1Q+earnings+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F05%2F25%2Fcontact-financial-and-mopco-report-1q-earnings%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\/2026\/05\/25\/contact-financial-and-mopco-report-1q-earnings\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/4.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"705378\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/contact-financial-and-mopco-report-1q-earnings\/4-jpg-57\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/4.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"4.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/4.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/4.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-705377\" class=\"content-area-description single-story post-705377 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-contact-financial tag-earnings tag-earnings-watch tag-enterpriseam tag-mopco wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Contact Financial Holding<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Contact Financial Holding\u2019s net income rose 12% y-o-y <\/strong><strong>in 1Q 2026 to EGP 66<\/strong><strong> mn<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/705274.pdf\" style=\"\">earnings release (pdf)<\/a>. Total operating income climbed 27% y-o-y during the quarter to reach EGP 642 mn, buoyed by a strong showing from its financing business that helped offset losses incurred by its ins. division. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown: <\/strong>The financing division\u2019s operating income jumped 46% y-o-y to EGP 542 mn, despite a 5% contraction in its total portfolio size. The growth was driven by a strategic pivot toward higher-yield products, gains from portfolio transfers, and expanding digital financing volumes. This translated into a 170% y-o-y jump in the division\u2019s net income to EGP 72 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the ins. front: <\/strong>The company\u2019s ins. arm saw revenues climb 42% y-o-y to EGP 881 mn on the back of a 29% y-o-y increase in gross written premiums to EGP 1.4 bn. While top-line growth was supported by new product rollouts and cross-selling, the division\u2019s bottom line was squeezed by a spike in medical claims carried over from 2025 and rising expansion costs, resulting in a net loss of EGP 3 mn for the quarter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Misr Fertilizers Production<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Misr Fertilizers Production\u2019s (Mopco) net income rose 88% y-o-y to <\/strong><strong>EGP 5.3 bn in 1Q 2026<\/strong>, according to the fertilizer giant\u2019s latest <a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/705314.pdf\" style=\"\">earnings release (pdf)<\/a>. Sales grew 29% y-o-y to EGP 8.2 bn, driven by stable natural gas supplies and production volumes that exceeded initial plans.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown: <\/strong>Export markets accounted for the lion\u2019s share of revenues at 78.5% of total sales (with urea making up 94% of exports, and ammonia 6%). Domestic sales made up the remaining 21.5% as the company maintained its commitment to supply allocated urea quotas to the Agriculture Ministry.<\/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\/contact-financial\/\">Contact Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mopco\/\">Mopco<\/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=\"705379 advertiser\" class=\"issue-section enterprise-adv\">\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=\"705379\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/705379\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-705379\" class=\"content-area-description single-story post-705379 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/1089.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"705380\" 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=\"705380\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/b-investments-preps-el-ezaby-pharmacy-for-egx-debut\/\">\r\n                            El Ezaby is still IPO-bound                        <\/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\/2026\/05\/25\/b-investments-preps-el-ezaby-pharmacy-for-egx-debut\/\" 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\/2026\/05\/25\/b-investments-preps-el-ezaby-pharmacy-for-egx-debut\/')\">\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\/2026\/05\/25\/b-investments-preps-el-ezaby-pharmacy-for-egx-debut\/\">\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=B Investments preps El Ezaby pharmacy for EGX debut&url=https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/b-investments-preps-el-ezaby-pharmacy-for-egx-debut\/\">\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\/2026\/05\/25\/b-investments-preps-el-ezaby-pharmacy-for-egx-debut\/&title=B Investments preps El Ezaby pharmacy for EGX debut\">\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=B+Investments+preps+El+Ezaby+pharmacy+for+EGX+debut+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F05%2F25%2Fb-investments-preps-el-ezaby-pharmacy-for-egx-debut%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\/2026\/05\/25\/b-investments-preps-el-ezaby-pharmacy-for-egx-debut\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1445.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"705381\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/b-investments-preps-el-ezaby-pharmacy-for-egx-debut\/1445-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1445.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1445.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1445.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1445.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-705380\" class=\"content-area-description single-story post-705380 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-critical-minerals tag-enterpriseam tag-ipo tag-ipo-watch tag-mining wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Private equity firm B Investments is preparing pharmacy chain El Ezaby for <\/strong><strong>an initial public offering (IPO) on the EGX<\/strong>, Chairman Hazem Barakat told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2026\/05\/23\/1969547\" style=\"\">Al Borsa<\/a> without referring to a projected timeline. The push to list follows B Investments\u2019 recent successful partial exit from <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/gourmet-shares-hit-40-regulatory-limit-in-egx-debut\/\" style=\"\">Gourmet<\/a> on the EGX, which Barakat highlighted as a positive indicator of market appetite.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> Barakat said <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/gourmet-shares-hit-40-regulatory-limit-in-egx-debut\/\" style=\"\">in February<\/a> that the pharmacy chain could make its EGX debut as early as next year, though the offer size and manager had not been decided. The Sovereign Fund of Egypt <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/09\/sfe-buys-49-of-el-ezaby-launches-pharma-logistics-firm-with-b-investments\/\" style=\"\">acquired a 49%<\/a> stake in El Ezaby in May 2023, later partnering with B Investments and MTI to launch an <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/07\/31\/b-investments-mti-invest-egp-500-mn-in-ez-international\/\" style=\"\">EGP 505 mn<\/a> logistics joint venture, EZ International.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Infinity Solar exit + healthcare expansion:<\/strong> B Investments also plans to divest its stake in Infinity Energy Solar by year-end. The capital will be repositioned to fund B Investments Healthcare.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Mapping mineral wealth<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Mineral Resources and Mining Industries Authority is launching the country\u2019s first comprehensive airborne national mineral survey in <\/strong><strong>42<\/strong><strong> years<\/strong>, tapping Spain\u2019s Xcalibur to map untapped resources across six major geographic zones, including the Eastern and Western deserts, Sinai, Bahariya Oasis, and Abu Tartour, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/1BA9fGsNsN\/\" style=\"\">statement<\/a> from the Oil Ministry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> This project is long overdue and a critical de-risking tool for mining companies. By providing a high-resolution geological database, the government helps slash the upfront exploration costs that have historically deterred fresh investments. The move is the first major dividend of recent legislative reforms that transformed the mineral resources authority into an <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/04\/30\/mps-approve-criminal-procedures-law-green-light-changes-to-mining-authority-nat-assets\/\" style=\"\">independent economic entity<\/a>, giving it greater flexibility.<\/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\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/critical-minerals\/\">critical minerals<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo\/\">IPO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mining\/\">mining<\/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=\"705382\" class=\"issue-section markets\">\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=\"705382\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/\">\r\n                            What Kevin Warsh\u2019s \u201creform-oriented\u201d Fed means for us                        <\/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\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/\" 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\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/')\">\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\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/\">\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 Powell playbook ended Friday. The next one hasn\u2019t been written&url=https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/\">\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\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/&title=The Powell playbook ended Friday. The next one hasn\u2019t been written\">\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+Powell+playbook+ended+Friday.+The+next+one+hasn%E2%80%99t+been+written+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F05%2F25%2Fthe-powell-playbook-ended-friday-the-next-one-hasnt-been-written%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\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1440.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"705383\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/1440-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1440.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1440.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1440.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1440.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-705382\" class=\"content-area-description single-story post-705382 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Kevin Warsh\u2019s response to being sworn in as the new Chairman of the Federal <\/strong><strong>Reserve on Friday was direct.<\/strong> He will lead a <a target=\"_blank\" href=\"https:\/\/www.cnn.com\/2026\/05\/22\/economy\/kevin-warsh-sworn-in-fed-chair\" style=\"\">reform-oriented Federal Reserve<\/a> \u201cescaping static frameworks and models.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What does this mean for our neck of the woods?<\/strong> Whatever framework Warsh constructs over his first 90 days will be the framework GCC monetary authorities operate within, irrespective of regional fiscal needs. Saudi Arabia, the UAE, Qatar, Bahrain, and Oman peg their currencies to the greenback, which means SAMA, CBUAE, QCB, CBB, and CBO will import Warsh\u2019s policy stance with no domestic mediation.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A complicated starting point:<\/strong> Warsh has explicitly told the market the set of assumptions made during Jerome Powell\u2019s Fed are about to change, and the starting conditions complicate everything. April CPI came in at 3.8% \u2014 a three-year high. Mortgage rates climbed to a nine-month high. JPMorgan now forecasts rates will likely <a target=\"_blank\" href=\"https:\/\/www.cnn.com\/2026\/05\/22\/economy\/kevin-warsh-sworn-in-fed-chair\" style=\"\">remain unchanged until mid-2027<\/a>, with hikes more likely than cuts. Bank of America has pushed its first-cut forecast to 2H 2027.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The tension was visible in the East Room on Friday:<\/strong> Trump pressed a growth-first policy, and Warsh invoked central bank independence and price stability in the same set of remarks. A \u201creform-oriented\u201d Warsh Fed could move policy faster in either direction than Powell\u2019s framework allowed, which means EM importer treasuries and external financing teams all need to rebuild their 18-24 month assumptions around a framework that hasn\u2019t been disclosed yet.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For GCC sovereign funds, the equation runs differently. <\/strong>PIF cut its international allocation target from 30% to 20% in April specifically to reduce exposure to US monetary policy transmission. The Warsh transition vindicates that swing, but only if the framework shift produces tighter conditions.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A different playbook:<\/strong> If Warsh delivers what Trump wants and rates start moving, GCC SWFs that pulled capital home over the last six months will be reading a different playbook than the one they positioned for Aramco and Adnoc\u2019s war windfalls compound under tight rates. The non-oil credit cycle needed for UAE and Saudi industrial diversification requires the opposite.<\/p><p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Asia-Pacific markets are up in early trading this morning, led by Japan\u2019s Nikkei, which soared to record highs as a potential end to the regional war reignited investor appetite. South Korea and Hong Kong are closed today. US markets, too, will be closed today in observance of Memorial Day. <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">52,861<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.5% (YTD: +26.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 52.25<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 52.38<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB<\/strong><strong>) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 52.25<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 52.35<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19.00% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.00% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,028<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +5.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,658<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +3.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,693<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: -5.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">7,473<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +9.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,466<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +5.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6,019<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.0% (YTD: +3.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 103.54<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.91<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-3.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 4,556<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 76,613<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: -12.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P Egypt Sovereign Bond Index<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,047<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1%% (YTD: +5.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P MENA Bond &amp; Sukuk<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">150.44<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: -1.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>VIX (Volatility Index)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">16.70<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +11.7%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose<\/strong><strong> 1.5% at <\/strong><strong>yesterday\u2019s<\/strong><strong> close<\/strong> on turnover of EGP 7.3 bn (8.8% below the 90-day average). International investors were the sole net buyers. The index is up 26.4% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Raya Holding (+7.6%), ADIB (+4.0%), and Palm Hills Developments (+4.0%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Valmore Holding -EGP (-3.1%), Qalaa Holdings (-2.1%), and Abu Qir Fertilizers (-2.1%).<\/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\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/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<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"705384\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">9<\/div>\r\n\r\n                        <p 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href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/egypt-has-built-a-research-base-that-beats-most-ems-but-our-private-sector-doesnt-know-what-to-do-with-it\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1475.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"705385\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/egypt-has-built-a-research-base-that-beats-most-ems-but-our-private-sector-doesnt-know-what-to-do-with-it\/1475-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1475.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1475.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1475.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1475.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-705384\" class=\"content-area-description post-705384 blackboard type-blackboard status-publish has-post-thumbnail hentry category-blackboard tag-blackboard tag-education tag-enterprise-blackboard tag-enterpriseam tag-higher-education wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Egyptian universities are now publishing in the world\u2019s top-cited journals at <\/strong><strong>rates that beat the OECD average. <\/strong>Research output has grown fivefold since 2009, the university count has doubled in five years, and only 3% of large Egyptian firms collaborate with academia on innovation activities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The gap between a globally credible research base and a private sector that isn\u2019t quite sure what to do with it is the binding constraint on our knowledge economy<\/strong>, a recent <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/5\/951.pdf\" style=\"\">OECD Innovation Policy Review (pdf)<\/a> finds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The number of universities jumped from 53 in 2018 to 100 as of 2023, and research spending crossed 1% of GDP. <\/strong>The share of Egyptian publications appearing in the world\u2019s top 10% most-cited journals rose from 6.6% in 2014 to 11% in 2022 \u2014 above the OECD average. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On paper, this is what the foundations of a knowledge economy are supposed to look like.<\/strong> But the demand side hasn\u2019t kept pace. Egyptian businesses spend 0.2% of GDP on R&D \u2014 a fraction of OECD levels. Only 7% of innovation-active SMEs and 3% of large firms collaborate with universities on innovation activities. Employment of PhD holders in industry is, in OECD words, \u201cvery low.\u201d Many firms still operate on legacy products and show limited interest in engaging research institutions at all.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Patent activity is low and stagnant despite the surge in publications. <\/strong>The structural reason is two economies operating side by side. One is the startup ecosystem \u2014 one of the largest in the region, with strong fintech depth and several scale-stage companies that absorb researchers and commercialize university work. The other is a much larger base of traditional firms in agriculture, basic manufacturing, and rent-generating sectors. These firms face limited competitive pressure to modernize and have little reason to invest in research.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is what the OECD calls a \u201cscience-push\u201d model <\/strong>\u2014 universities and researchers trying to push innovations into the market after the fact, rather than building products and research agendas with industry from the start.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The result? <\/strong>The country produces increasingly sophisticated human capital and globally credible research, yet much of that knowledge stays within academia because the surrounding economy lacks the absorptive capacity to use it. Graduate unemployment runs at roughly twice the national average. Publication numbers go up; patents and commercialization don\u2019t.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some institutions are working to close the gap. <\/strong>AUC\u2019s Innovation Hub embeds corporates, startups, and researchers in the same ecosystem to co-develop solutions and shorten the distance between research and deployment. The recently launched <a target=\"_blank\" href=\"https:\/\/sis.gov.eg\/en\/projects-initiatives\/initiatives\/alliance-and-development-initiative\/\" style=\"\">Alliance and Development Initiative<\/a> by the Ministry of Higher Education aims to link universities, research centers, industry, and investors through regional clusters.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The OECD\u2019s argument is that these kinds of co-creation models <\/strong>\u2014 rather than isolated academic research \u2014 are what produce meaningful technology transfer. Egypt has spent the past decade building the supply side of a knowledge economy. The harder work now is to build an economy that can use what those universities and labs are producing.<\/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\/blackboard\/\">Blackboard<\/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\/higher-education\/\">higher education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"705386\" 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\/2026\/05\/25\/705386\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-705386\" class=\"content-area-description single-story post-705386 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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26-31 May (Tuesday-Sunday): Eid El Adha.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 June (Tuesday): June 30 Revolution.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">9 July (Thursday): Monetary Policy Committee\u2019s fourth meeting of 2026.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 July (Thursday): Revolution Day (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 August (Thursday): Monetary Policy Committee\u2019s fifth meeting of 2026.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 August (Wednesday): Prophet Muhammad\u2019s birthday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 September (Tuesday): IMF to hold its eighth review of Egypt\u2019s USD 8 bn EFF arrangement.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">24 September (Thursday): Monetary Policy Committee\u2019s sixth meeting of 2026. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>27-29 September (Sunday-Tuesday): Global Conference on Population, Health, and Human Development.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 October (Tuesday): Armed Forces Day. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29 October (Thursday): Monetary Policy Committee\u2019s seventh meeting of 2026.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17 December (Thursday): Monetary Policy Committee\u2019s eighth meeting of 2026.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2026: Trial operations for the Ain Sokhna-Sixth of October section of Egypt\u2019s first high-speed rail line scheduled to begin.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">May 2026: End of extension for developers on 15% interest rates for land installment payments.<br \/><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">July 2026: British Prime Minister Keir Starmer set to visit Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2H 2026: Operations at Deli Glass Co\u2019s new USD 70 mn glassware factory kick off.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2026: The Egyptian-American Economic Forum.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 January-7 February: Egypt to host the African Games.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>April 2027: Tenth of Ramadan <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8320d4df-e1a7-405e-be07-08e6590aff0e\/\" style=\"\">dry port and logistics hub<\/a><\/span><span style=\"font-weight:400;\"> to begin operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2027: Egypt to host EBRD\u2019s annual meetings.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2027: Egypt-EU Summit 2027.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">September 2028: First unit of the Dabaa nuclear power plant begins operations.<\/span><\/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":"<p>Korra Energi IPO covered | Behind the NBFIs crackdown | RMBV looks to establish SPAC in Egypt<\/p>\n","protected":false},"featured_media":705364,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-705363","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"06ebb375-0721-4d66-a3ff-61c1a212d8f2","teaser":"Korra Energi IPO covered | Behind the NBFIs crackdown | RMBV looks to establish SPAC in Egypt","photo_url":"https:\/\/ent.news\/2026\/5\/1448.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>KPMG considers ending 41-year partnership with Hazem Hassan - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, 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