{"id":711146,"date":"2026-06-17T00:00:00","date_gmt":"2026-06-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=money-matters&#038;p=711146"},"modified":"2026-06-17T08:09:41","modified_gmt":"2026-06-17T08:09:41","slug":"the-next-chapter","status":"publish","type":"money-matters","link":"https:\/\/enterpriseam.com\/egypt\/money-matters\/the-next-chapter\/","title":{"rendered":"The next chapter"},"content":{"rendered":"<section id=\"711148\" 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=\"711148\">\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\">INTRO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/17\/welcome-to-the-final-issue-of-money-matters\/\">\r\n                            Welcome to the final issue of Money Matters                        <\/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\/06\/17\/welcome-to-the-final-issue-of-money-matters\/\" 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\/06\/17\/welcome-to-the-final-issue-of-money-matters\/')\">\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\/06\/17\/welcome-to-the-final-issue-of-money-matters\/\">\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=Welcome to the final issue of Money Matters&url=https:\/\/enterpriseam.com\/egypt\/2026\/06\/17\/welcome-to-the-final-issue-of-money-matters\/\">\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\/06\/17\/welcome-to-the-final-issue-of-money-matters\/&title=Welcome to the final issue of Money Matters\">\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=Welcome+to+the+final+issue+of+Money+Matters+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F06%2F17%2Fwelcome-to-the-final-issue-of-money-matters%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\/06\/17\/welcome-to-the-final-issue-of-money-matters\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-711148\" class=\"content-area-description single-story post-711148 post type-post status-publish format-standard hentry category-intro tag-intro tag-money-matters 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>Hello, ladies and gents, and welcome to the final issue of our signature series, Money Matters.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Retirement changes the financial conversation.<\/strong> The focus shifts from building wealth to living off it. How do you turn decades of savings into a reliable source of income? What role should pensions, dividend-paying stocks, and other investment products play in a retirement portfolio? How can families preserve businesses and wealth across generations? And what conversations should happen long before a founder or family patriarch steps aside?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In this issue of Money Matters<\/strong>, we look at some of the questions that become increasingly important as investors move from accumulation to decumulation, from generating retirement income and preserving purchasing power to succession planning, wealth transfer, and preparing the next generation to manage what has been built.<\/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\/intro\/\">INTRO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/money-matters\/\">Money Matters<\/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=\"711149\" 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=\"711149\">\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\">Coffee With<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/17\/granites-hisham-akram-on-why-pension-funds-could-be-egypts-next-big-investment-story\/\">\r\n                            Granite\u2019s Hisham Akram on why pension funds could be Egypt's next big investment story                        <\/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\/06\/17\/granites-hisham-akram-on-why-pension-funds-could-be-egypts-next-big-investment-story\/\" 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\/06\/17\/granites-hisham-akram-on-why-pension-funds-could-be-egypts-next-big-investment-story\/')\">\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\/06\/17\/granites-hisham-akram-on-why-pension-funds-could-be-egypts-next-big-investment-story\/\">\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=Granite\u2019s Hisham Akram on why pension funds could be Egypt's next big investment story&url=https:\/\/enterpriseam.com\/egypt\/2026\/06\/17\/granites-hisham-akram-on-why-pension-funds-could-be-egypts-next-big-investment-story\/\">\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\/06\/17\/granites-hisham-akram-on-why-pension-funds-could-be-egypts-next-big-investment-story\/&title=Granite\u2019s Hisham Akram on why pension funds could be Egypt's next big investment story\">\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=Granite%E2%80%99s+Hisham+Akram+on+why+pension+funds+could+be+Egypt%27s+next+big+investment+story+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F06%2F17%2Fgranites-hisham-akram-on-why-pension-funds-could-be-egypts-next-big-investment-story%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\/06\/17\/granites-hisham-akram-on-why-pension-funds-could-be-egypts-next-big-investment-story\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/960.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"711150\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/17\/granites-hisham-akram-on-why-pension-funds-could-be-egypts-next-big-investment-story\/960-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/960.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"960.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/960.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/960.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-711149\" class=\"content-area-description single-story post-711149 post type-post status-publish format-standard has-post-thumbnail hentry category-agreements-and-mous-totalling-eur-67-7-bn-inked-at-egypt-eu-investment-conference tag-coffee-with tag-granite tag-money-matters 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>Granite Financial Holding is aiming to launch at least one or two pension <\/strong><strong>funds before the end of the year<\/strong>, positioning itself among the first asset managers seeking to bring products to market under Egypt's updated framework for private pension funds. EnterpriseAM sat down with Granite Financial Holding founder and director <strong>Hisham Akram<\/strong> to discuss the company's plans for what could become some of Egypt's first pension funds under the new framework, the opportunity he sees in retirement investing, and why pension savings could eventually become a major source of long-term capital for the economy<strong>. <\/strong>Below are edited excerpts from our conversation:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM:<\/strong> You've been talking about pension funds as a major opportunity for the industry. Is Granite working on anything in that space?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Akram:<\/strong> <strong>We're currently working on what is effectively a supplementary pension system.<\/strong> The closest comparison would be products such as 401(k)s in the US or individual retirement accounts in the UK. The idea is to give people a way to build retirement savings alongside the state pension system through professionally managed investment portfolios.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We're working with regulators, legal advisers, and potential corporate partners to put the right structure in place.<\/strong> The legislation is largely in place, but there are still implementation details that need to be clarified, particularly around tax treatment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our objective is to launch at least one or two pension funds before the end of the year.<\/strong> We believe these products could help fill an important gap in Egypt's retirement savings landscape while also creating a new source of long-term capital for the economy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM:<\/strong> How would these funds work, and how do they differ from the retirement options currently available in Egypt?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Akram:<\/strong> <strong>Egypt's retirement system has traditionally been built around the state pension scheme.<\/strong> The challenge is that the pension someone receives is ultimately constrained by the limits of that system. If a person earns a relatively high income during their career, the pension they receive after retirement may represent only a small fraction of what they earned during their working years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The idea behind supplementary pension systems is to provide an additional layer of retirement savings.<\/strong> That's what you see in products such as 401(k)s in the US or individual retirement accounts in the UK. People save and invest throughout their careers while benefiting from a dedicated retirement framework.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Participants make regular contributions into an account that is invested on their behalf, and employers can also contribute depending on the structure.<\/strong> Unlike traditional defined-benefit systems, where retirement income is predetermined, these products operate on a defined-contribution basis. The outcome depends on how much someone contributes and how the portfolio performs over time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The money is professionally managed, and the investment strategy evolves as participants get older.<\/strong> Someone in their twenties can generally take more investment risk than someone approaching retirement, so the portfolio should evolve accordingly.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM:<\/strong> Private pension funds have existed in Egypt in one form or another for years. What's different now?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Akram:<\/strong> <strong>The framework has become much clearer and more structured than it was in the past.<\/strong> Private pension funds already existed, but the rules governing them were not always as clear as they needed to be.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The recent legislative amendments introduced stronger governance requirements and clearer oversight mechanisms.<\/strong> They also expanded the range of assets these funds can invest in, including equities, real estate funds, gold funds, and other investment vehicles.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another important change is the increased emphasis on professional management.<\/strong> Larger funds are now expected to be managed by qualified professionals rather than operating under older structures that were often less institutionalized.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM:<\/strong> Where does Granite stand today? How close are you to launching a product?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Akram:<\/strong> <strong>We're actively working with regulators, legal advisers, and potential corporate partners to build the right structure for these products.<\/strong> The legislation is largely in place, but there are still implementation details that need to be clarified before products can be launched at scale.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One of the biggest outstanding issues is tax treatment.<\/strong> Around the world, retirement systems rely heavily on tax incentives to encourage participation. If someone contributes part of their income into a retirement plan, they need certainty regarding how those contributions will be treated from a tax perspective.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That incentive is often what makes long-term retirement saving attractive.<\/strong> We are optimistic these issues will be resolved, and our objective is to launch at least one or two pension funds before the end of the year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM:<\/strong> Would these funds initially be offered directly to individuals, or through employers?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Akram:<\/strong> <strong>The most practical starting point is through employers.<\/strong> While the legislation allows broader structures, launching through companies is operationally simpler and easier to administer.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That effectively creates a B2B2C model.<\/strong> Contributions can be deducted directly through employers, administration becomes more efficient, and tax treatment can be handled more easily than in a purely direct-to-consumer structure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over time, the market may evolve beyond that.<\/strong> But for a country that is still developing its retirement savings ecosystem, starting through employers is likely to be the most logical path.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM:<\/strong> To your knowledge, would these be among the first products launched under the new framework?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Akram:<\/strong> <strong>To the best of my knowledge, no new funds have yet been established under the updated framework.<\/strong> There are already hundreds of private pension funds operating in Egypt, but most were established under older arrangements and are currently going through a process of regulatory alignment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we're building is different not only because of the updated framework but also because of the participant experience.<\/strong> We want contributors to have much greater visibility into their retirement savings and investment performance than is typically available today.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM:<\/strong> One thing you mentioned is transparency. What's missing from the current system?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Akram:<\/strong> <strong>People should be able to clearly understand where they stand at any given time.<\/strong> They should know how much they have contributed, whether their employer has contributed, how the portfolio has performed, and what benefits they have accumulated.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That level of transparency is standard in many developed pension systems.<\/strong> We believe it should become standard in Egypt as well. Participants should be able to monitor and understand their retirement savings rather than treating them as a black box.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM:<\/strong> Beyond helping people save for retirement, what would these funds mean for Egypt's financial system?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Akram:<\/strong> <strong>Because pension funds don't just create retirement income \u2014 they create long-term capital.<\/strong> Every month, participants contribute money that needs to be invested somewhere, whether in government securities, equities, real estate funds, gold funds, or other investment vehicles.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over time, pension funds become major institutional investors.<\/strong> They help deepen capital markets, improve liquidity, and create a more stable investment environment. One of the characteristics of more developed financial systems is the presence of large pools of long-term institutional capital, and pension funds play a major role in creating that capital.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>They also help increase national savings rates.<\/strong> Every month new contributions enter the financial system, creating a steady flow of capital that can be deployed across the economy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM:<\/strong> You see pension funds as more than just another investment product. Why?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Akram:<\/strong> <strong>Because the impact extends well beyond the funds themselves.<\/strong> Building a pension industry creates demand for custodians, administrators, auditors, lawyers, technology providers, cybersecurity firms, call centers, and a wide range of supporting services.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It creates an entire ecosystem.<\/strong> If Egypt wants to continue developing its asset management industry and broader financial sector, retirement investing has the potential to become one of the most important growth areas over the next decade.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cMoney market funds were one of the big stories of the past few years.\u201d<\/strong> Pension funds could become one of the big stories of the next ten years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM:<\/strong> A lot of people approaching retirement today are more comfortable with bank certificates than digital investment platforms. How are you thinking about that challenge?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Akram:<\/strong> <strong>That's one of the challenges we're actively thinking about.<\/strong> Our platform was built as a digital-first experience, but many people approaching retirement today are not necessarily comfortable with fully digital onboarding and account management.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We've seen that firsthand.<\/strong> Some customers encounter challenges with face recognition, digital verification, or simply navigating a fully digital process. Others still prefer some level of human interaction before committing their savings.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We're exploring ways to bridge that gap.<\/strong> The objective is to preserve the efficiency of a digital platform while providing additional support for people who may need assistance during onboarding or account management.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM: If someone comes to you at 60 and says they're about to retire but don't really have a plan, what's the first thing you tell them?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Akram:<\/strong> <strong>The most important objective is preserving purchasing power. <\/strong>Many retirees may spend twenty or thirty years in retirement, which means inflation becomes one of the biggest risks they face.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Retirement planning isn't simply about generating income.<\/strong> It's about making sure savings continue to retain their real value over time. That requires a careful balance between safety, liquidity, and growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt also needs more retirement-income products.<\/strong> In many markets, retirees can convert accumulated savings into predictable income streams through products such as annuities. Those types of solutions are still underdeveloped in Egypt and represent an important opportunity going forward.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM:<\/strong> Beyond pension funds, what else is on Granite's roadmap?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Akram:<\/strong> <strong>Our immediate focus is improving the experience around the money market account<\/strong> and expanding the services available to both individuals and corporate clients. We're working on additional payment capabilities and services that make the platform more useful in day-to-day financial activity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>At the same time, pensions remain one of our biggest priorities.<\/strong> Just as money market accounts helped create a new category in the market, we believe pension products have the potential to make a similarly significant impact over the years ahead.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We're also studying additional services, including payment cards.<\/strong> The broader objective is to continue building products that make investing and managing money easier, while helping people save and plan more effectively for the future.<\/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\/coffee-with\/\">Coffee With<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/granite\/\">GRANITE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/money-matters\/\">Money Matters<\/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=\"711151\" 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=\"711151\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/17\/the-best-investment-decision-i-ever-made-magda-habib-and-pakinam-kafafi\/\">\r\n                            The best investment decision I ever made: Magda Habib and Pakinam Kafafi                        <\/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\/06\/17\/the-best-investment-decision-i-ever-made-magda-habib-and-pakinam-kafafi\/\" 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\/06\/17\/the-best-investment-decision-i-ever-made-magda-habib-and-pakinam-kafafi\/')\">\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\/06\/17\/the-best-investment-decision-i-ever-made-magda-habib-and-pakinam-kafafi\/\">\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 best investment decision I ever made: Magda Habib and Pakinam Kafafi&url=https:\/\/enterpriseam.com\/egypt\/2026\/06\/17\/the-best-investment-decision-i-ever-made-magda-habib-and-pakinam-kafafi\/\">\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\/06\/17\/the-best-investment-decision-i-ever-made-magda-habib-and-pakinam-kafafi\/&title=The best investment decision I ever made: Magda Habib and Pakinam Kafafi\">\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+best+investment+decision+I+ever+made%3A+Magda+Habib+and+Pakinam+Kafafi+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F06%2F17%2Fthe-best-investment-decision-i-ever-made-magda-habib-and-pakinam-kafafi%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\/06\/17\/the-best-investment-decision-i-ever-made-magda-habib-and-pakinam-kafafi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/1001.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"711152\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/17\/the-best-investment-decision-i-ever-made-magda-habib-and-pakinam-kafafi\/1001-jpg-28\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/1001.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1001.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/1001.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/1001.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-711151\" class=\"content-area-description single-story post-711151 post type-post status-publish format-standard has-post-thumbnail hentry category-investment tag-investment tag-money-matters 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;text-align: left\"><strong>In each issue of Money Matters we ask senior members of our community for investment advice based on personal experience.<\/strong> Speaking to us this week are Magda Habib, Vice Chair, Dawi Clinics and Co-Founder Fawry, and Pakinam Kafifi, CEO TAQA Arabia.<\/p>\n<p class=\"tag-border-left\">Magda Habib<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The best investment decisions I ever made were investing in real estate in Maadi and not cashing out my stock options when I left Fawry. <\/strong>My husband and I stretched ourselves early on to buy real estate in installments. That forced us to put aside money each month and not overspend. Once you get into that habit the ball starts rolling. I never flipped real estate. It was just about pushing myself to save a little bit more and invest in rental property that can provide income for retirement.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>I don\u2019t consider myself a savvy investor in companies or in the stock market. It\u2019s not my cup of tea, I\u2019m not good at it, and it doesn\u2019t fit my risk appetite.<\/strong> I\u2019m old school. There was a time when I was very active with Cairo Angels but I have to admit, I didn\u2019t make the best choices. I put some early stage money in several companies, none of them worked out. I attended the pitches of some of the companies that flew but unfortunately I didn\u2019t invest in them.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>In my own business and on a personal level it was always just a mindset of savings.<\/strong> Throughout our lives, my husband and I had a very solid principle to not spend more than we earned. We live well but never go into debt. I use my credit card like a debit card.That commitment makes you eventually grow your wealth slowly. We don\u2019t need more than that.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>When I left Fawry, I had stock options that I held on to because I could afford not to sell and they appreciated very nicely.<\/strong> I still have them so as long as the company is doing well I\u2019m keeping them. I haven\u2019t made huge amounts of money through investments. The fact that we are able to live well and retire well is largely because we had good careers.<\/p>\n<p class=\"tag-border-left\">Pakinam Kafafi<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The best investment decisions I ever made were investing in real estate inside and outside Egypt, followed by a small amount of money that I put into gold (I wish it was more). <\/strong>The real estate that I purchased in the early 2000\u2019s in Cairo and the North Coast is what has increased in value the most.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>I made money on real estate investments outside Egypt not because the value of the properties went up but because of the exchange rate.<\/strong> I earn my income in Egyptian pounds. In order to buy real estate abroad I was forced to convert the pounds into sterling at a much more favorable exchange rate than we have today, so in that sense it was a good investment.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>I don\u2019t recommend buying real estate today unless you plan to live in it or you plan to use it to generate rental income.<\/strong> So either invest in commercial real estate to rent, or residential real estate for short-term rentals like Airbnb. Otherwise it doesn\u2019t make sense because prices are high, maintenance costs are skyrocketing and real estate tax rates are increasing.<\/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\/investment\/\">investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/money-matters\/\">Money Matters<\/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=\"711153\" 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=\"711153\">\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\">A MESSAGE FROM CIB EGYPT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/17\/cib-private-metal-world-elite-smoother-travel-smarter-spending-more-time-back\/\">\r\n                            CIB Private Metal World Elite: Smoother travel, smarter spending, more time back                        <\/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\/06\/17\/cib-private-metal-world-elite-smoother-travel-smarter-spending-more-time-back\/\" 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\/06\/17\/cib-private-metal-world-elite-smoother-travel-smarter-spending-more-time-back\/')\">\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\/06\/17\/cib-private-metal-world-elite-smoother-travel-smarter-spending-more-time-back\/\">\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=CIB Private Metal World Elite: Smoother travel, smarter spending, more time back&url=https:\/\/enterpriseam.com\/egypt\/2026\/06\/17\/cib-private-metal-world-elite-smoother-travel-smarter-spending-more-time-back\/\">\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\/06\/17\/cib-private-metal-world-elite-smoother-travel-smarter-spending-more-time-back\/&title=CIB Private Metal World Elite: Smoother travel, smarter spending, more time back\">\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=CIB+Private+Metal+World+Elite%3A+Smoother+travel%2C+smarter+spending%2C+more+time+back+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F06%2F17%2Fcib-private-metal-world-elite-smoother-travel-smarter-spending-more-time-back%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\/06\/17\/cib-private-metal-world-elite-smoother-travel-smarter-spending-more-time-back\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/986.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"711154\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/17\/cib-private-metal-world-elite-smoother-travel-smarter-spending-more-time-back\/986-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/986.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"986.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/986.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/986.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-711153\" class=\"content-area-description single-story post-711153 post type-post status-publish format-standard has-post-thumbnail hentry category-a-message-from-cib-egypt tag-a-message-from-cib-egypt tag-money-matters 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>In the world of high finance and global business, efficiency has become a luxury in its own right. <\/strong>For the modern executive, a financial tool should signal success, buy back time, and reduce the friction of a demanding schedule. That is the exact philosophy behind the CIB Private Metal World Elite Credit Card, a first-of-its-kind proposition in Egypt engineered to streamline daily operations and travel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The card earns its keep first on spend. <\/strong>As CIB\u2019s most premium card, it blends elite utility with tactical financial value, offering standout partner offers and leading reward rates. Everyday domestic spending\u2014whether on fashion, premium tech, or business dinners\u2014earns five EXPLORE points for every EGP spent locally, while spending abroad or on travel-related expenses earns 10 points per EGP.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The welcome incentives give that spend a head start. <\/strong>New cardholders can receive up to 1 mn EXPLORE points, worth EGP 5k, upon reaching a specific spend threshold within the first three months. Regular annual spend thresholds can also unlock a complimentary annual flight ticket valued at up to EGP 50k.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Redemption is where the points leave the spreadsheet.<\/strong> Through the exclusive CIB EXPLORE Program, points can be redeemed across more than 600 airlines and 200k hotels \u2014 entirely in points, in EGP, or through a mix of both \u2014 while eligible bookings also include complimentary extra luggage.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The luxury begins long before wheels up.<\/strong> Within the broader CIB Private experience, clients have access to a 24\/7 global concierge service powered by Quintessentially, which can coordinate the card's built-in travel perks, including complimentary London Cab transfers straight to the terminal.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>At the airport, time is the real perk.<\/strong> At Cairo International Airport, cardholders can move more smoothly with VIP Meet & Greet services, dedicated golf car assistance through check-in, security, and immigration, and domestic Fast Track access via ALLWAYS across Terminals 1, 2, and 3. The card also offers unlimited access to over 1.2k airport lounges for cardholders and up to three guests, alongside fast-track perks at 70+ international airports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>After landing, the card moves from logistics to hospitality. <\/strong>Automatic GHA DISCOVERY Titanium status unlocks room upgrades and late check-outs across premier hotel groups, including IHG, Kempinski, and Accor. All benefits, features, and partner offers are subject to change.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A metal card earns its place when it fits naturally into a client\u2019s daily flow.<\/strong> For entrepreneurs and frequent flyers, the CIB Private Metal World Elite Credit Card helps turn everyday and travel spending into rewards, access, and time saved \u2014 leaving more room for the priorities that need their attention.<\/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-cib-egypt\/\">A MESSAGE FROM CIB Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/money-matters\/\">Money Matters<\/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=\"711155\" 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=\"711155\">\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\">WEALTH MANAGEMENT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/17\/beltone-to-launch-wealth-management-app-targeting-a-broader-investor-base\/\">\r\n                            Beltone to launch wealth management app targeting a broader investor base                        <\/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\/06\/17\/beltone-to-launch-wealth-management-app-targeting-a-broader-investor-base\/\" 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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EnterpriseAM sat down with Beltone CEO for Local and Regional Markets<strong> Khalil El Bawab<\/strong> to discuss how investment strategies should evolve from the wealth accumulation years through retirement, the most common mistakes investors make, and why retirees still need some exposure to growth assets.<\/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\">Wealth management goes mainstream<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asset allocation should evolve with age.<\/strong> For investors in their twenties and thirties, El Bawab favors a growth-oriented allocation with around 60% invested in small- and mid-cap exposure through an EGX70 tracker and 40% in actively managed equity funds. For investors in their forties and fifties, he prefers roughly 30% in small- and mid-cap equities, 40% in lower-volatility equity exposure, and 30% in fixed income. \u201cThe higher your age, the lower your exposure to equities and the higher your exposure to fixed income,\u201d he says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The wealth management industry is increasingly targeting retail investors rather than focusing exclusively on wealthy clients.<\/strong> \u201cHistorically advisory has been for the high-net-worth ultra-high-net-worth clients,\u201d El Bawab notes. \u201cOur goal is to democratize advisory.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The opportunity is growing rapidly.<\/strong> New entrants to capital markets surpassed 300k during the first five months of the year, while the mutual fund industry grew from EGP 156 bn at the end of 2024 to around EGP 411 bn by 1Q 2026, El Bawab notes. Digital onboarding, fintech licenses, and instant payment infrastructure have dramatically reduced barriers to entry and made investing more accessible.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Beltone's upcoming wealth management app forms part of that shift.<\/strong> The platform will ask users to answer questions about their risk appetite, goals, and liquidity needs before helping them determine an appropriate investment structure. Users will also be able to access portfolio valuations and customized reporting tools.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe call to action now is a press of a button,\u201d El Bawab says.<\/strong> As investing becomes more accessible, the focus is shifting from buying individual products to building portfolios that evolve alongside investors throughout their lives.<\/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\">Retirement changes the objective<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Retirement changes what a portfolio is designed to do.<\/strong> Younger investors focus on building wealth, while retirees need income, capital preservation, liquidity, and protection against inflation. As life expectancy rises and retirement periods grow longer, investors may spend decades outside the workforce. \u201cI wouldn't suggest 100% in fixed income because you're not protected for inflation,\u201d El Bawab explains.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201c55 is different from 60 and 65,\u201d El Bawab notes.<\/strong> Investors approaching retirement can generally maintain greater exposure to growth assets, while retirees tend to prioritize income and capital preservation. Under Egypt's phased increase in the retirement age, retirement will gradually rise from 61 for those born in 1971 to 65 for those born in 1975 and later.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>His preferred framework combines income generation with inflation protection.<\/strong> For investors approaching retirement, El Bawab suggests allocating roughly 70% to fixed income, 10-15% to inflation hedges such as gold, and 10-20% to growth investments. Once investors retire, he favors increasing fixed-income exposure to around 80-85% while maintaining some exposure to lower-volatility equities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not all inflation hedges serve the same purpose.<\/strong> \u201cGold and silver are medium- to long-term investments... it's not income generating,\u201d El Bawab adds. Retirees therefore need exposure to income-producing assets such as fixed income and dividend-paying equities.<\/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 growth still matters<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Moving into retirement does not mean abandoning growth assets altogether.<\/strong> According to El Bawab, treasury bills generated returns of around 270% over the past decade, compared with roughly 1,100% for the EGX100 and approximately 2,000% for gold. While past performance does not guarantee future returns, the figures illustrate why retirees still need some exposure to assets capable of outpacing inflation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThere is no one product that fits all. There is no one product that fits all your needs,\u201d El Bawab says.<\/strong> Investors often have multiple objectives at the same time. \u201cYou can be saving to buy a mobile phone while also having an investment plan for your retirement,\u201d he says. That is why wealth management increasingly focuses on asset allocation rather than product selection.<\/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\">The biggest mistakes<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Concentrating too much wealth in a single asset is one of the most common mistakes retirees make.<\/strong> \u201cThe biggest mistake is putting everything into one illiquid asset. Like real estate,\u201d he notes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cReal estate has proven over the years to be a great inflation protection. But at the end of the day it's illiquid,\u201d he argues.<\/strong> Retirees facing healthcare costs or other unexpected expenses need liquidity alongside inflation protection.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Holding excessive cash creates the opposite problem.<\/strong> Inflation steadily erodes purchasing power if money sits idle. \u201cLiquidity has a price,\u201d he adds. \u201cYou need to diversify at every age. That's a rule of thumb for all seasons and all ages.\u201d<\/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\">Invest first and spend later<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cMy number one advice is start spending after you invest and save.<\/strong> Invest first, save first, and then spend,\u201d El Bawab says. \u201cEverybody makes the mistake of saving and investing the leftover of their income.\u201d Building wealth is a journey. Ideally this journey is planned or targeted from a very young age,\u201d he argues.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The impact of starting early can be dramatic.<\/strong> According to El Bawab, someone investing EGP 1k a month over the past 15 years would have contributed around EGP 180k in total. That amount would have grown to roughly EGP 635k in treasury bills, EGP 780k in the EGX30, EGP 1.46 mn in the EGX100, and about EGP 2.1 mn in local gold.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Those figures highlight the value of time.<\/strong> \u201cEvery single one of us is at a different age bracket, different investment goals, different needs, different risk profiles and different liquidity needs,\u201d he notes. The objective is not to maximize returns at all costs, but to build portfolios that reflect individual circumstances.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/money-matters\/\">Money Matters<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wealth-management\/\">wealth management<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"711157 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"711157\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/17\/711157\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-711157\" class=\"content-area-description single-story post-711157 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.granite.eg\/\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/990.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"711158\" 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=\"711158\">\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\">MANAGEMENT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/17\/the-succession-planning-conversation-you-should-have-before-retirement\/\">\r\n                            The succession planning conversation you should have before retirement                        <\/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\/06\/17\/the-succession-planning-conversation-you-should-have-before-retirement\/\" 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\/06\/17\/the-succession-planning-conversation-you-should-have-before-retirement\/')\">\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\/06\/17\/the-succession-planning-conversation-you-should-have-before-retirement\/\">\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 succession planning conversation you should have before retirement&url=https:\/\/enterpriseam.com\/egypt\/2026\/06\/17\/the-succession-planning-conversation-you-should-have-before-retirement\/\">\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\/06\/17\/the-succession-planning-conversation-you-should-have-before-retirement\/&title=The succession planning conversation you should have before retirement\">\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+succession+planning+conversation+you+should+have+before+retirement+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F06%2F17%2Fthe-succession-planning-conversation-you-should-have-before-retirement%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\/06\/17\/the-succession-planning-conversation-you-should-have-before-retirement\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/958.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"711159\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/17\/the-succession-planning-conversation-you-should-have-before-retirement\/958-jpg-24\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/958.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"958.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/958.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/958.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-711158\" class=\"content-area-description single-story post-711158 post type-post status-publish format-standard has-post-thumbnail hentry category-management tag-management tag-money-matters 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>Succession planning should begin long before a founder steps aside: <\/strong>Families that delay difficult conversations risk conflict, fragmentation, and even the loss of business value, <strong>Lamyaa Gadelhak<\/strong>, at Baker McKenzie Cairo (Helmy, Hamza & Partners) focusing on Wealth Management offerings in the Middle East, <strong>Phyllis Townsend<\/strong>, partner in Baker McKenzie\u2019s Wealth Management practice in London and EMEA Wealth Management practice group lead, and <strong>Sagui Hamed<\/strong>, founder and managing partner of Square Capital Group, tell EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Don\u2019t wait for a trigger:<\/strong> Succession planning should begin \u201cas soon as possible,\u201d Townsend says. Founders often focus on building their businesses and leave succession planning until later, but she describes it as a \u201cmissing piece of the puzzle\u201d that is best considered while the business is still growing rather than waiting for a liquidity event or another trigger. Hamed takes an even broader view, arguing that founders should think about continuity from the moment they start a business. \u201cThe minute you step into a business, you have to think of continuity and succession,\u201d she says. Bringing the next generation into the conversation early can also reduce the risk of future disputes by ensuring family members understand where they fit within both the family and the business.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A business should be able to survive its founder:<\/strong> \u201cI think not planning at all is the biggest mistake you can make,\u201d Townsend says. Gadelhak notes that many businesses across the Middle East and Africa have been divided after a founder\u2019s death because succession was never properly addressed, damaging both family relationships and business continuity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Avoid copy-paste solutions:<\/strong> Families should not assume that a structure adopted by another family will work for them, Gadelhak says. The right solution depends on the assets involved, family dynamics, and long-term objectives.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Build continuity into the business itself:<\/strong> Founders should focus on ensuring a business can continue operating without them through strong management teams, governance structures, and clear processes, Hamed says. \u201cThe business has to continue anyway whether I am part of it or not.\u201d<\/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\">Preserving businesses and wealth<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Preserving value is often more important than dividing assets equally:<\/strong> Allowing ownership to become fragmented can make it more difficult to preserve both businesses and wealth, Townsend says. Gadelhak notes that there is no universal answer to whether assets should be divided among heirs because the right approach depends on both the nature of the asset and the family itself.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some assets lose value when fragmented:<\/strong> \u201cSome assets, if fragmented, lose their value, and then it will be a loss for everyone,\u201d Gadelhak says. Families must also consider who is capable of continuing a business, whether there is a natural successor, and how responsibilities will be managed in the future.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Have difficult conversations while the founder is still alive:<\/strong> Founders often have the clearest understanding of both the family and the business and usually have a vision for how the business should continue after them, Gadelhak says. If disagreements are unavoidable, it is generally better for them to happen while the founder is still alive, Townsend says. \u201cOnce the founder has gone then the family can descend into infighting and litigation.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Manage expectations early:<\/strong> Families that successfully preserve wealth across generations tend to communicate openly and manage expectations early, Townsend says. \u201cMost disputes arise when the expectations of certain family members are not met.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Start financial conversations young:<\/strong> Hamed argues that conversations about saving, investing, and stewardship should begin from a young age so future generations understand both the opportunities and responsibilities that come with inherited wealth.<\/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\">The legal complexities<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cross-border wealth can complicate succession:<\/strong> Families with assets spread across multiple countries must navigate different legal systems, reporting requirements, disclosure obligations, and operational considerations, Gadelhak says. Real estate is generally subject to the laws of the jurisdiction in which it is located, while financial assets may sometimes be held through structures such as trusts, Townsend notes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Poor planning can leave heirs facing unexpected challenges:<\/strong> Without proper documentation and structuring, heirs may have to trace assets across multiple jurisdictions and, in some cases, may not even be aware that certain assets exist. Without proper planning across key jurisdictions, families may have to wait for one legal process to conclude before another can begin, and winding up an estate can sometimes take decades, Townsend says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Trusts remain one of the most powerful succession planning tools:<\/strong> Trusts centralize ownership while separating it from beneficial interests, allowing family members to benefit from assets without directly owning them, Townsend says. This can reduce fragmentation after a founder\u2019s death and help preserve businesses and wealth across generations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The concept has deeper roots than many realize:<\/strong> While trusts are most commonly associated today with common law jurisdictions, Gadelhak notes that the concept has historical roots in the Islamic institution of waqf. \u201cFunnily enough, a fun fact is that the trust historically comes from the Islamic structure of waqf,\u201d she says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Modern trusts and waqf serve different purposes:<\/strong> While Egypt still recognizes waqf, it is regulated through a different framework and does not function as a modern succession-planning tool in the same way trusts do.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Trusts are not a one-size-fits-all solution:<\/strong> Egypt, among other jurisdictions, does not recognize trusts under domestic law, meaning families typically rely on offshore structures where appropriate, Gadelhak says. The right structure depends on the nature of the assets, ownership restrictions, tax considerations, and the family\u2019s objectives.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Careful structuring is essential:<\/strong> \u201cIt\u2019s not as simple as \u2018creating a trust that in turn owns the assets, or automatically moving assets into the trust,\u2019\u201d Gadelhak says. \u201cIt\u2019s an exercise that requires specific and elaborate legal advice, requires tax assessment because it needs to be tax-efficient as well, particularly when it involves multiple jurisdictions.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Awareness is growing, but implementation remains slow:<\/strong> Awareness of succession planning among Egyptian and Middle Eastern family businesses has increased significantly over the past decade, according to Gadelhak. However, implementation often lags because succession planning is a complex legal, tax, and structuring exercise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Global families require ongoing reviews:<\/strong> The challenge is becoming more pronounced as more family members live, study, and work abroad. Townsend says she has seen families revisit succession plans after relatives moved to the US, requiring structures to be reconsidered and updated.<\/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\/management\/\">MANAGEMENT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/money-matters\/\">Money Matters<\/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=\"711160\" 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=\"711160\">\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\">Enterprise explains<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/17\/can-dividend-stocks-help-protect-against-inflation\/\">\r\n                            Living off dividends                        <\/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\/06\/17\/can-dividend-stocks-help-protect-against-inflation\/\" 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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Here's how they work and what investors should know before buying them.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dividend stocks pay shareholders a portion of a company's profits.<\/strong> Their attractiveness is often measured by dividend yield, which compares the annual dividend to the stock's market price. A company paying EGP 5 per share annually with a share price of EGP 100 would have a dividend yield of 5%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investors should also keep taxes in mind:<\/strong> Cash dividends from EGX-listed companies are generally subject to a 5% withholding tax, which is usually deducted automatically before the payment reaches the investor's brokerage account.<\/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\">The EGX's dividend payers<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Many of the EGX's most established companies have long records of paying dividends.<\/strong> Investors often look at names such as CIB, Credit Agricole Egypt, Alexandria Container & Cargo Handling, Abu Qir Fertilizers, Eastern Company, and Alexandria Mineral Oils Company (AMOC), all of which have distributed profits to shareholders in recent years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dividend yields can vary significantly from year to year.<\/strong> The size of the payout depends on profitability, cash flow generation, investment requirements, and board decisions. While some companies may occasionally offer double-digit yields, dividends are never guaranteed.<\/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\">Cash dividends vs bonus shares<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not all shareholder distributions come in cash.<\/strong> Companies sometimes issue bonus shares by converting retained earnings into share capital and distributing additional shares to existing investors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bonus shares do not immediately increase the value of a portfolio.<\/strong> The share price adjusts to reflect the larger number of shares in circulation. However, investors end up owning more shares, which can increase future dividend income if the company continues to grow and distribute profits.<\/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\">Looking beyond the yield<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yield is only part of the story.<\/strong> When evaluating a dividend stock, investors should consider the company's profitability, financial strength, cash generation, and track record of maintaining payouts. A high yield may be attractive, but it is not always sustainable.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Income should not be viewed in isolation.<\/strong> When a company distributes cash to shareholders, that money leaves the business. Investors therefore need to focus on total return \u2014 the combination of dividend income and share-price performance \u2014 rather than yield alone.<\/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\">Cash today or growth tomorrow?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dividend investors often face a trade-off between current income and future growth.<\/strong> Mature companies typically distribute a larger share of their profits, while faster-growing businesses tend to reinvest earnings to fund expansion.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Neither approach is inherently better.<\/strong> Investors seeking immediate income may favor established dividend payers, while those with longer time horizons may benefit from companies that prioritize growth and gradually increase payouts over time.<\/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\">The retirement question<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The real attraction of dividend stocks is the potential for income growth.<\/strong> Unlike certificates or other fixed-income products that pay a predetermined rate, successful companies can increase their dividends as profits rise. That can be particularly valuable in Egypt, where inflation can erode purchasing power over a retirement that may last decades.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investors must also understand how dividend dates work.<\/strong> To receive a dividend, an investor must own the stock before the ex-dividend date, which is the first trading day on which new buyers are no longer entitled to the upcoming distribution. Investors typically need to purchase the stock before the last day with dividend rights attached. Once the stock begins trading ex-dividend, its share price often declines by roughly the value of the dividend, reflecting the cash that is about to leave the company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dividend announcements and payment schedules can be tracked through brokerage platforms, company disclosures, and the EGX's corporate actions calendar.<\/strong> Missing the relevant eligibility date can mean missing the entire payout cycle.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Most retirees do not rely exclusively on dividend stocks.<\/strong> Instead, they combine them with T bills, certificates of deposit, rental income, and pension payments. The goal is not simply to maximize yield, but to build a diversified portfolio capable of generating income under different economic conditions.<\/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\/enterprise-explains\/\">Enterprise Explains<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/money-matters\/\">Money Matters<\/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=\"711162\" 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=\"711162\">\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\">ENTERPRISE RECOMMENDS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/17\/from-building-wealth-to-living-off-it\/\">\r\n                            The decumulation dilemma                        <\/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\/06\/17\/from-building-wealth-to-living-off-it\/\" 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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It requires a plan for how money will support the next chapter of life.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Money needs a purpose:<\/strong> In Retirement Is Not a Math Problem (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=iGiT7Yjz3vU\" style=\"\">listen, runtime 39:13<\/a>), Whitney argues that people often spend years preparing financially for retirement while giving far less thought to what retirement itself will look like. He describes retirement as a change of seasons rather than a binary event triggered by leaving work. Instead of making money the center of retirement planning, he encourages retirees to focus on four non-financial pillars: energy, mindset, passions, and relationships. The role of money is to support those priorities, not become an end in itself.<\/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\">From accumulation to decumulation<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One of the biggest adjustments retirees face is moving from accumulation to decumulation.<\/strong> For decades, the goal is simple: save, invest, and grow wealth. Retirement introduces a different challenge: deciding how much to spend and when to spend it.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Whitney describes this transition as a \u201ccrisis of confidence.\u201d<\/strong> People who spend decades building wealth often become so focused on protecting it that they struggle to use it. The result can be unnecessary sacrifice, from delaying retirement and skipping experiences to limiting support for family members or charitable causes out of fear of running out of money.<\/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\">The longevity question<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Much of that anxiety stems from uncertainty about how long retirement will last.<\/strong> In How Long Will You Live After Retirement? (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=kIHrNfPTzrs\" style=\"\">listen, runtime: 57:48<\/a>), Whitney and physician Dr. Bobby Dubo argue that many retirement plans rely on highly conservative assumptions, often projecting that men will live to 92 and women to 94. While those assumptions provide a margin of safety, they can also distort decision-making.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Whitney notes that a typical 55-year-old American can expect to live to around 79 for men and 83 for women, well below the ages often used in conservative retirement plans.<\/strong> The difference matters because planning for a retirement that lasts until age 90 requires a nest egg roughly 40% larger than one designed to last until age 79. Whitney warns that overly conservative assumptions can lead retirees to underspend, work longer than necessary, and leave meaningful experiences on the table.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rather than relying on generic assumptions,<\/strong> the discussion encourages retirees to use longevity tools that account for personal factors such as family history, cardiovascular health, and cognitive risks. The goal is not to predict the future perfectly, but to make decisions using a more realistic view of the years ahead.<\/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\">Making your money last<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The same themes run through How to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/en\/book\/show\/23492720-how-to-make-your-money-last\" style=\"\">Make Your Money Last<\/a><\/strong><strong> by Jane Bryant Quinn.<\/strong> Rather than focusing on wealth creation, the book examines how retirees can make informed decisions with the assets they already have.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Quinn explores issues that become more important later in life,<\/strong> including generating dependable income, managing healthcare costs, and determining how aggressively to invest after retirement. Her central message is that successful retirement outcomes often depend less on exceptional investment returns than on consistently sound decisions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One of the book\u2019s strengths is its ability to translate complex financial concepts into practical guidance.<\/strong> Whether discussing withdrawal strategies, insurance, or long-term care planning, Quinn focuses on the trade-offs retirees face and the consequences those choices can have over a retirement that may span decades.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The book also echoes Whitney\u2019s concept of agile retirement management.<\/strong> Rather than creating a lengthy financial plan and rarely revisiting it, he advocates establishing a plan of record and adjusting it through regular conversations as circumstances, priorities, and risks evolve. The underlying lesson is that retirement planning is not a one-time event but a continuous process of balancing financial security with living a meaningful life.<\/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\/enterprise-recommends\/\">Enterprise Recommends<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/money-matters\/\">Money Matters<\/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","protected":false},"featured_media":711147,"template":"","categories":[],"tags":[],"class_list":["post-711146","money-matters","type-money-matters","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"3f628b9f-7e5c-4e74-be6c-5ca406f80da7","teaser":"","photo_url":"https:\/\/ent.news\/2026\/3\/733.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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