{"id":566260,"date":"2021-06-07T13:55:16","date_gmt":"2021-06-07T13:55:16","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/07\/tonight-openners-ahmed-elsherif-sits-down-with-enterprise-also-boe-deliberates-launch-of-digital-currency-chinas-consumption-recovery-staggers-along\/"},"modified":"2021-06-07T13:55:16","modified_gmt":"2021-06-07T13:55:16","slug":"tonight-openners-ahmed-elsherif-sits-down-with-enterprise-also-boe-deliberates-launch-of-digital-currency-chinas-consumption-recovery-staggers-along","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/07\/tonight-openners-ahmed-elsherif-sits-down-with-enterprise-also-boe-deliberates-launch-of-digital-currency-chinas-consumption-recovery-staggers-along\/","title":{"rendered":"TONIGHT: Openner\u2019s Ahmed Elsherif sits down with Enterprise. ALSO: BOE deliberates launch of digital currency + China\u2019s consumption recovery staggers along."},"content":{"rendered":"<p><strong>It\u2019s a capital markets-heavy issue today<\/strong>, ladies and gentlemen, with VCs and private equity news abound. We also have a touch of science fiction-comes-to-life stories as well.<\/p>\n<p><strong>THE BIG STORY TODAY- Why Egypt needs more venture builders: <\/strong>US-based VC firm Openner, which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a3e46fb5-4b89-4c54-a522-05bdf71f073a\">announced yesterday<\/a> a six-figure investment in <a href=\"http:\/\/tejarra.com\/\">tejarra.com<\/a>, is planning to make venture building a thing in Egypt. Don\u2019t know what that is? Look to our Spotlight interview with Egypt MD Ahmed Elsherif to find out.<\/p>\n<p><strong>** CATCH UP QUICK <\/strong>on the top stories from today\u2019s EnterpriseAM:<\/p>\n<ul>\n<li><strong>Made In Egypt Sinovac\u2122 coming 15 June:<\/strong> The first batch of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c1ca16c6-9177-455b-8d80-d7d57b1328db\">locally-manufactured Sinovac vaccines<\/a> will be ready two weeks earlier than expected, and will undergo a final analysis before being dispatched to clinics, Health Minister Hala Zayed said.<\/li>\n<li><strong>We\u2019re <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2205dce0-274d-4586-84a5-5a7e9c7c46d9\">going to pay 14% VAT<\/a><\/strong><strong> on online deliveries by restaurants and shops: <\/strong>All restaurants and businesses with more than EGP 500k in annual revenues will have to charge and remit VAT on online delivery services under an amendment to the VAT act.<\/li>\n<li><strong>Egypt Post\u2019s private equity arm could be heading to the EGX: <\/strong>Market conditions and appetite from foreign investors will determine the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3d3d431c-01c1-4b9a-9045-a157a38006dc\">timing and size of the offering<\/a>, while preparations for the IPO should wrap up by the end of this fiscal year.<\/li>\n<\/ul>\n<p><strong>THE BIG STORY ABROAD-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>The Bank of England (BOE) is warming up to the idea of rolling out a digital <\/strong><strong>currency<\/strong>, publishing a <a href=\"https:\/\/www.bankofengland.co.uk\/paper\/2021\/new-forms-of-digital-money\">discussion paper<\/a> that outlines the risks and benefits of launching a central bank digital currency (CBDC) and how to do it effectively, according to a <a href=\"https:\/\/www.bankofengland.co.uk\/news\/2021\/june\/new-forms-of-digital-money-discussion-paper-and-summary-of-responses-to-the-discussion-paper-on-cbdc\">press release<\/a>. The BOE is open to CBDC\u2019s in the event that they boost financial inclusion, create a competitive CBDC ecosystem, safeguard user privacy, and \u201cdo no harm\u201d to the Bank\u2019s ability to meet monetary and financial stability. The bank will be accepting feedback from stakeholders on the discussion paper till September, and responses will inform how it decides to move forward.<\/p>\n<p><strong>However, the BOE will still explore whether payment innovations could deliver the same <\/strong><strong>benefits<\/strong> <strong>of a digital currency: <\/strong>The bank has raised a number of concerns that are under consideration, including public confidence in the financial system, banking sector liquidity resilience, credit conditions, money market functioning, and the implementation and transmission of monetary policy. To mitigate these risks, the BOE suggests that a transition period would be necessary for a rollout of CBDC to limit the pace of migration. A number of countries worldwide are considering the introduction of digital currencies, including Egypt who back in April <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8e90d81-d066-495e-8a04-bb8af8c86a25\">changed regulations<\/a> to allow commercial banks to issue e-currencies. If you\u2019re still unsure what a digital currency could mean for the economy, check out our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/29b7691c-a906-4c7f-9886-28e8cc190d0a\">explainer<\/a> on the topic.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>The Entering African Markets exporter training program is ongoing<\/strong> <strong>till 10 June<\/strong> to strengthen and enhance the capacity of Egyptian exporters, according to a <a href=\"https:\/\/ent.news\/2021\/6\/AATB-Program-ITFC-and-EDA-Launch-First-Training-Program-for-Exporters-Entering-African-Markets-in-Cairo.pdf\">press release (pdf)<\/a><sup><\/sup>. The program was launched by the International Islamic Trade Finance Corporation in cooperation with the Egyptian Export Development Authority.<\/p>\n<p><strong>Egypt is hosting the first forum of the heads of African investment promotion <\/strong><strong>agencies from 11-14 June<\/strong> in Sharm El Sheikh under the theme \u201cIntegration for Growth,\u201d according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/151259670377795\">cabinet statement<\/a>. Ministers and heads of investment agencies from 34 African countries are expected to attend in efforts to boost coordination and integration among the continent\u2019s investment bodies and support foreign direct investment.<\/p>\n<p><strong>Entrepreneurs in the tourism sector have until 20 June to apply for the six-month <\/strong><strong>Tourism Recovery Program<\/strong> launched by <a href=\"https:\/\/enpact.org\/#\/\">enpact<\/a> and the <a href=\"https:\/\/www.tuicarefoundation.com\/en\">TUI Care Foundation<\/a> and supported by <a href=\"https:\/\/www.giz.de\/en\/html\/index.html\">GIZ<\/a>, according to a <a href=\"https:\/\/ent.news\/2021\/6\/070621_Egypt-Press-Release_ENG.pdf\">press release (pdf)<\/a>. Under the program, 100 tourism startups will be chosen to receive dedicated mentoring, training, and direct financial support of up to EUR 9k per business. The program also aims to create an international network of tourism business to expand cooperation between Egypt, Germany, and other European countries. You can apply for the program using <a href=\"https:\/\/enpact.org\/open-applications\/tourism-recovery-programme\/#\/\">this link<\/a>.<\/p>\n<p>? <strong>FOR YOUR COMMUTE-<\/strong><\/p>\n<p><strong>The consumption bounceback in China has fallen short of expectations <\/strong>despite the economy having long reopened, hinting at a subdued recovery for other countries that have recently reopened, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-06\/china-s-cautious-consumers-offer-clues-for-post-pandemic-world?srnd=premium-middle-east\">Bloomberg<\/a>. Economists attribute the lack of a V-shaped recovery to an unequal distribution of savings from the pandemic as well as lingering virus worries prompting conservative spending habits, especially on services. But as vaccine rollouts pick up steam and uncertainty in the future begins to subside, China\u2019s consumption is expected to pick up, with Bloomberg forecasting boosted spending levels by the end of 2021.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Google will pay a USD 270 mn settlement fee to French regulators<\/strong> <strong>in an antitrust <\/strong><strong>case <\/strong>that alleged the tech company had abused its leading role in the digital advertising sector, the <a href=\"https:\/\/www.wsj.com\/articles\/french-regulator-fines-google-268-million-in-antitrust-settlement-11623054737?mod=hp_lead_pos1\">Wall Street Journal<\/a> reports. Google also pledged to make it easier for competitors to use its online advertising tools, a commitment that will be legally binding in France for three years. Google could look to take a similar approach to settling other legislative battles, such as an ongoing <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/96fac44d-23ee-4009-98e8-f5851dfb1b80\">antitrust probe in Germany<\/a>.<\/p>\n<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT-<\/strong><\/p>\n<p><strong>Another Netflix doc on the complexities of being human: <\/strong><strong><a href=\"https:\/\/www.netflix.com\/eg-en\/title\/81139212\">Human: The World Within<\/a><\/strong> explains the biological systems that define us as a species and influence every individual\u2019s life, passions and goals. The six episodes focus on the nervous system, the heart, food and eating, adaptation, our senses, and the birth process. The documentary uses real people and situations to illustrate the scientific information it conveys, making the episodes more relatable. For the episode on food and eating, the documentary introduces us to a distance runner preparing for a trek who explains how different foods will affect him. In the adaptation episode on the other hand, a woman who lives in the desert explains how her immune system has adapted to the harsh environment. <a href=\"https:\/\/readysteadycut.com\/2021\/06\/04\/human-the-world-within-netflix-review\/\">Ready Steady Cut<\/a> are out with a review.<\/p>\n<p>?<strong> OUT AND ABOUT-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a><strong> Don\u2019t miss out on a Abdel Halim Hafez concert (you heard right):<\/strong> After 2Pac made a posthumous hologram cameo at Coachella (<a href=\"https:\/\/www.youtube.com\/watch?v=TGbrFmPBV0Y\">watch, runtime: 5:00<\/a>) a couple of years back, Egyptian singing legend Abdel Halim Hafez will be making his hologram debut concert later this month: The 90-minute concerts will be held on 17 and 18 June and you can buy tickets through <a href=\"https:\/\/www.ticketsmarche.com\/tickets\/buy-tickets-abdelhalim-hafez-hologram-concert.html\">TicketsMarche<\/a>.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><strong>How to navigate the technological world with the least amount of stress: <\/strong><a href=\"https:\/\/www.amazon.com\/Digital-Minimalism-Choosing-Focused-Noisy-ebook\/dp\/B07DBRBP7G\/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=&sr=\">Digital<\/a><a href=\"https:\/\/www.amazon.com\/Digital-Minimalism-Choosing-Focused-Noisy-ebook\/dp\/B07DBRBP7G\/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=&sr=\">Minimalism<\/a> by Cal Newport introduces a 30-day moratorium on digital noise and instructs readers on how to conduct a \u201cdigital declutter\u201d to combat the overuse of technology. The book is filled with anecdotes on how getting off screens can allow for new passions and goals to emerge. While a lot of Newport\u2019s arguments against technology-filled days have been said time and again, it's the approach he takes to changing the new normal, and the steps he outlines to getting there, that make it easier to accomplish.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>Expect daytime highs of 38\u00b0C and nighttime lows of 21\u00b0C tomorrow, our favorite weather app says.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s a capital markets-heavy issue today, ladies and gentlemen, with VCs and private equity news abound. We also have a touch of science fiction-comes-to-life stories as well. THE BIG STORY TODAY- Why Egypt needs more venture builders: US-based VC firm Openner, which announced yesterday a six-figure investment in tejarra.com, is planning to make venture building [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7213],"tags":[2383,2494,116,518,957,633,3700,491,8591,1143,845,238,4242,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566260","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-tonight","tag-antitrust","tag-bank-of-england","tag-china","tag-digital-currency","tag-dispute-watch","tag-enterprisepm","tag-export-development-authority","tag-france","tag-giz","tag-google","tag-international-islamic-trade-finance-corporation","tag-tourism","tag-tui-care-foundation","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"f6d5d5c0-4d02-4b0c-93c6-252c92705004","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[566258],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>TONIGHT: Openner\u2019s Ahmed Elsherif sits down with Enterprise. ALSO: BOE deliberates launch of digital currency + China\u2019s consumption recovery staggers along. - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/07\/tonight-openners-ahmed-elsherif-sits-down-with-enterprise-also-boe-deliberates-launch-of-digital-currency-chinas-consumption-recovery-staggers-along\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TONIGHT: Openner\u2019s Ahmed Elsherif sits down with Enterprise. ALSO: BOE deliberates launch of digital currency + China\u2019s consumption recovery staggers along.\" \/>\n<meta property=\"og:description\" content=\"It\u2019s a capital markets-heavy issue today, ladies and gentlemen, with VCs and private equity news abound. 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THE BIG STORY TODAY- Why Egypt needs more venture builders: US-based VC firm Openner, which announced yesterday a six-figure investment in tejarra.com, is planning to make venture building [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/07\/tonight-openners-ahmed-elsherif-sits-down-with-enterprise-also-boe-deliberates-launch-of-digital-currency-chinas-consumption-recovery-staggers-along\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2021-06-07T13:55:16+00:00","author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/07\/tonight-openners-ahmed-elsherif-sits-down-with-enterprise-also-boe-deliberates-launch-of-digital-currency-chinas-consumption-recovery-staggers-along\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/07\/tonight-openners-ahmed-elsherif-sits-down-with-enterprise-also-boe-deliberates-launch-of-digital-currency-chinas-consumption-recovery-staggers-along\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"TONIGHT: Openner\u2019s Ahmed Elsherif sits down with Enterprise. 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Openner will provide technical support, expertise, and other resources to help \u201cthe platform\u2019s marketing and sales operations as well as its market success and positioning\u201d through a so-called\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/92.jpeg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":645859,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/30\/aibank-rebrands-to-bank-nxt\/","url_meta":{"origin":566260,"position":2},"title":"aiBank rebrands to Bank NXT","author":"enterpriseam admin","date":"30 September 2024","format":false,"excerpt":"Good afternoon, folks, and welcome to the last day of September.THE BIG STORY TODAY aiBank is now Bank NXT: EFG Holding\u2019s commercial bank arm, aiBank, has announced today that it is rebranding to Bank NXT to embark on a new phase of \u201cgrowth, digital innovation, and customer-centric solutions,\u201d the bank\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2269.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":675415,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/23-digital-services-companies-to-use-egypt-as-their-main-base-of-operations\/","url_meta":{"origin":566260,"position":3},"title":"23 digital services companies to use Egypt as their main base of operations","author":"enterpriseam admin","date":"12 November 2025","format":false,"excerpt":"Good afternoon, friends, and welcome to the almost-weekend. A relaxed week in the news cycle is coming to a close, with a few main stories continuing to dominate the headlines.THE BIG STORY TODAY- ?The country\u2019s efforts to boost its outsourcing industry are bearing fruit, with 23 global digital services companies\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1412.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559200,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/a-new-boss-in-the-house\/","url_meta":{"origin":566260,"position":4},"title":"A new boss in the House","author":"enterpriseam admin","date":"13 January 2021","format":false,"excerpt":"Meet your new House speaker: Hanafi Gebali. Judge and former president of the Supreme Constitutional Court Hanafi Gebali was elected as the speaker of the House of Representatives in yesterday\u2019s inaugural session of the new parliament, succeeding Ali Abdel Aal who didn\u2019t stand for reelection, Al Masry Al Youm reported.\u2026","rel":"","context":"In &quot;Politics&quot;","block_context":{"text":"Politics","link":"https:\/\/enterpriseam.com\/egypt\/category\/_newspack_politics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/1\/143.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":558007,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/tonight-alameda-to-invest-egp-5-bn-over-3-5-years-amazon-talks-to-enterprise-about-the-new-launch-also-our-picks-for-the-emmys-on-the-tube-tonight\/","url_meta":{"origin":566260,"position":5},"title":"TONIGHT: Alameda to invest EGP 5 bn over 3-5 years + Amazon talks to Enterprise about the new launch ALSO: Our picks for the Emmys on the tube tonight","author":"enterpriseam admin","date":"19 September 2021","format":false,"excerpt":"It\u2019s a busy start to the work week, ladies and gentlemen, with new investment pledges, regulatory changes to the EGX and the UN General assembly dominating local headlines this morning. 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