{"id":578797,"date":"2023-01-15T04:11:16","date_gmt":"2023-01-15T04:11:16","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/15\/of-warehouse-raids-wheat-prices-and-shop-licensing-laws\/"},"modified":"2023-01-15T04:11:16","modified_gmt":"2023-01-15T04:11:16","slug":"of-warehouse-raids-wheat-prices-and-shop-licensing-laws","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/15\/of-warehouse-raids-wheat-prices-and-shop-licensing-laws\/","title":{"rendered":"Of warehouse raids, wheat prices, and shop licensing laws"},"content":{"rendered":"

It was a mixed bag on the talk shows over the weekend:<\/strong> Commodities was something of a theme as the pundits took a look at what went down at one of ecommerce startup MaxAB\u2019s warehouses over the weekend, as well as getting into the nitty gritty of newly implemented shop licensing laws and an expected bump to the state\u2019s local wheat purchase price.<\/p>\n

<\/a> Goods seized at the MaxAB warehouse in Qalyubia: <\/strong>The governor of Qalyubia and other \u201crelevant authorities\u201d ordered the seizure of tons of commodities at the warehouse of ecommerce outfit MaxAB because of a mistaken belief that the company was hoarding both subsidized and unsubsidized products, MaxAB CEO and co-founder Belal El Megharbel told El Hekaya (watch, runtime: 9:05<\/a>). MaxAB will be providing receipts to the government to get back its goods, El Megharbel said. MaxAB<\/a> raised a USD 40 mn round to fund its expansion in 2022.<\/p>\n

Shop owners aren\u2019t jumping to get licensed: <\/strong>Only 2.7k of the 4 mn unlicensed shops in the country have so far applied for licenses under the newly-introduced Public Shops Law<\/a>, Rep. Mohamed Al Fayoumi told Al Hekaya\u2019s Amr Adeeb in a phone call (watch, runtime: 5:32<\/a>.) Licenses cost between EGP 1k and EGP 100k depending on the location and size of the shop, Al Fayoumi told Al Hadath Al Youm in a phone call (watch, runtime: 6:36<\/a>.) Only shops operating in 34 specific activities \u2014 rather than all shops \u2014 need to obtain security clearances to get a license, Al Fayoumi told Sada El Balad (watch, runtime: 3:02<\/a>). Owners of unlicensed shops have one year from the law\u2019s implementation last December to apply to obtain licenses, which should be issued within 90 days.<\/p>\n

A 25-35% increase in the state\u2019s wheat purchase price? <\/strong>Ala Mas\u2019ouleety\u2019s Ahmed Moussa speculated that the price per ardeb of wheat<\/a> that the state offers to local farmers could rise to EGP 1.25k-1.35k from last year\u2019s EGP 1k (watch, runtime: 3:25<\/a>). The cabinet will announce its final price for the 2023 season following its weekly meeting on Wednesday, according to Saad (watch, runtime: 10:26<\/a>.)<\/p>\n

AND- Prime Minister Moustafa Madbouly\u2019s trip to North Sinai with several government <\/strong>ministers <\/strong>to follow up on development projects got airtime on Masaa DMC (watch, runtime: 1:39<\/a>), Al Hayah Al Youm (watch, runtime: 5:36<\/a>), and Kelma Akheera (watch, runtime: 4:32<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"

It was a mixed bag on the talk shows over the weekend: Commodities was something of a theme as the pundits took a look at what went down at one of ecommerce startup MaxAB\u2019s warehouses over the weekend, as well as getting into the nitty gritty of newly implemented shop licensing laws and an expected […]<\/p>\n","protected":false},"author":1,"featured_media":578798,"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":[7232],"tags":[317,72,106,180,2182,6441,95,563],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-578797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-last-nights-talk-shows","tag-commodities","tag-enterpriseam","tag-last-nights-talk-shows","tag-legislation","tag-maxab","tag-public-shops-law","tag-startup-watch","tag-wheat","wpautop","entry"],"acf":{"mongo_id":"9a48281c-00e1-41fa-8ab4-33588a043835","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/1\/223.jpg","photo_position":"above","related_issue":[578782],"teaser":"","voice_url":""},"yoast_head":"\nOf warehouse raids, wheat prices, and shop licensing laws - 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The new investment takes the company\u2019s total series A funding to USD 55 mn, enabling it to expand\u2026","rel":"","context":"In "SPEED ROUND: STARTUP WATCH"","block_context":{"text":"SPEED ROUND: STARTUP WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/523.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":665544,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/maxab-wasoko-acquires-fatura\/","url_meta":{"origin":578797,"position":1},"title":"MaxAB-Wasoko acquires Fatura","author":"enterpriseam admin","date":"20 May 2025","format":false,"excerpt":"EFG Finance will become a significant shareholder in MaxAB-Wasoko","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1610.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":633512,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/16\/e-commerce-platforms-maxab-and-wasoko-to-merge-within-weeks-report\/","url_meta":{"origin":578797,"position":2},"title":"E-commerce platforms MaxAB and Wasoko to merge within weeks -report","author":"enterpriseam admin","date":"16 July 2024","format":false,"excerpt":"Maxoko\u2019s annual operations are projected to hit USD 500 mn.","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1182.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595455,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/26\/egyptian-e-commerce-startup-maxab-raises-usd-6-2-mn-in-seed-investment\/","url_meta":{"origin":578797,"position":3},"title":"Egyptian e-commerce startup MaxAB raises USD 6.2 mn in seed investment","author":"enterpriseam admin","date":"26 September 2019","format":false,"excerpt":"STARTUP WATCH- Cairo-based e-commerce startup MaxAB has raised USD 6.2 mn in one of the MENA region\u2019s largest-ever seed rounds, it said ina statement (pdf). The round was co-led by Beco Capital, 4DX Ventures, and Endure Capital, while 500 Startups, Outlierz Ventures, and other local investors participated. The company expects\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/9\/2576.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":612496,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/24\/maxab-to-merge-with-kenyan-b2b-e-commerce-player-wasoko\/","url_meta":{"origin":578797,"position":4},"title":"MaxAB to merge with Kenyan B2B e-commerce player Wasoko","author":"enterpriseam admin","date":"24 December 2023","format":false,"excerpt":"The merged entity will sell to more than 450k merchants in eight African countries","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1517.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566641,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/05\/maxab-closes-landmark-funding-in-fresh-round-led-by-ahmed-badreldins-rmbv\/","url_meta":{"origin":578797,"position":5},"title":"MaxAB closes landmark funding in fresh round led by Ahmed Badreldin\u2019s RMBV","author":"enterpriseam admin","date":"5 July 2021","format":false,"excerpt":"MaxAB has raised USD 40 mn in a series A round led by impact investor RMBV, bringing the amount invested in the company since its record USD 6.2 mn seed round in 2019 to just north of USD 46 mn, according to a MaxAB statement (pdf). 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