{"id":639838,"date":"2024-08-15T00:00:00","date_gmt":"2024-08-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/15\/my-morning-routine-karim-shehata-ceo-of-basata-holding\/"},"modified":"2024-08-15T00:00:00","modified_gmt":"2024-08-15T00:00:00","slug":"my-morning-routine-karim-shehata-ceo-of-basata-holding","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/15\/my-morning-routine-karim-shehata-ceo-of-basata-holding\/","title":{"rendered":"My Morning Routine: Karim Shehata, CEO of Basata Holding"},"content":{"rendered":"

Karim Shehata, CEO of Basata Holding: <\/strong>Each week, My Morning Routine looks at how a successful member of the community starts their day \u2014 and then throws in a couple of random business questions just for fun. Speaking to us this week is Karim Shehata (LinkedIn<\/a>), CEO of Basata<\/a>Holding<\/a>.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

My name is Karim Shehata.<\/strong> I\u2019ve been working since I was 15, so I\u2019m almost 30 years into corporate life. I\u2019m currently working as the CEO of Basata, but I\u2019ve moved between four or five businesses over the last 20 years. I also have two amazing kids \u2014 so my life is a balance between the corporate guy, the family guy, and an Egyptian heart and soul.<\/p>\n

Basata means simple in Arabic<\/strong> \u2014 and simplicity is a big part of what we try to do. We\u2019re in the business of financial inclusion, moving money into the digital world, building tech for businesses, merchants, and consumers to enable them to do their jobs better. My part is the easiest part of all, I think, because my part is just looking for good people to work in the business and trying to make their life as comfortable and as effective as possible. We\u2019re trying to grow in the Egyptian market, and we\u2019re growing regionally beyond Egypt as well. <\/p>\n

My day-to-day responsibilities can be divided into two parts:<\/strong> There\u2019s the regular operational part, where I check on our figures, our teams, how our sales performed the previous day \u2014 just making sure that everything is on the right track. Then the other part is about looking ahead into the future, and where we could do better. That doesn\u2019t happen on a daily basis, but we try to consistently look at the bigger picture and overall market by holding talks with our colleagues and partners. We try to see what we can learn and where we can add value. <\/p>\n

Basata is the result of two different types of investors coming together to create a fintech <\/strong>firm. <\/strong>The founders of the business are divided into the MM Group for Industry and International Trade<\/a> \u2014 one of the largest distributors in Egypt. They distribute and manage everything from top up and recharge cards to Maseratis and Range Rovers. On the other side, the second largest investors in Basata are private equity firms and financial investors. The two sides met around 10 years back and decided to bundle everything together. So it became a mix between distribution and financial understanding to create fintech companies. That\u2019s how Basata was created. <\/p>\n

It was first formed as an acquisition vehicle for other businesses.<\/strong> So it started as a holding company, acquiring Bee<\/a> and then another stake in a company called Masary<\/a> and scaling them up. The next step was moving into the regional market \u2014 we're looking into Jordan and other markets as well, Oman, Saudi, and the GCC. All of this came as a result of two businessmen and friends meeting to bring distribution and fintech together. And here we are, under the umbrella of Basata \u2014 which has a 30% share of the Egyptian market, growing rapidly in a few years in a market that is very dynamic and exciting.<\/p>\n

It\u2019s been very interesting to see how quickly Egyptians have adapted to tech.<\/strong> I\u2019ve worked in different industries including telecom, banking, aviation, and there\u2019s always the question of whether people will adapt to new technologies. When I worked at Visa, for instance, the question was \u2014 would Egyptians use their card at any point of time to pay for anything? Now, we\u2019re seeing the adoption of cashless payments at a rapid rate. The embrace of cashless transactions and payments has been magnificent, and it happened at a phenomenal rate. <\/p>\n

There\u2019s also a general awareness of financial services, products, and non-banking <\/strong>financial services that wasn\u2019t quite there a few years back.<\/strong> The average Egyptian is now aware of NBFS and of payment in installments and how they work. I would say it\u2019s also growing really quickly and positively. This can be attributed to the government. The amount of policies and financial flexibility that the government has shown in that sector specifically has been very interesting to see. They opened up a lot of possibilities for agent banking, prepaid cards, Instapay, all these kinds of excellent products in the market.<\/p>\n

During my mornings, I usually pray, get a small bite, get some coffee, then I check <\/strong>Enterprise online to see what\u2019s new in the market.<\/strong> During weekdays, I\u2019m usually doing calls and checking on the business, which generally starts very early in my day. I also use all the possible apps to check on my kids, using everything from texting to Snapchat to make sure I get a reply! <\/p>\n

One of my mentors told me that I need to always have a point of reflection during my day.<\/strong> I\u2019d say that\u2019s my one constant every day \u2014 to just take five minutes in the middle of the day to assess how the day\u2019s going, how things are moving, and what\u2019s still pending. I ask if I\u2019m generally on the right track in terms of getting things done at work or if I\u2019m checking on my family enough. It\u2019s a way for me to stay focused in the middle of all the chaos.<\/p>\n

I\u2019m not an organized person, so I generally get a lot of help from my personal assistants <\/strong>and the people around me as well.<\/strong> They help me keep everything intact and be on top of my meetings and obligations. Prayer times also help me organize my day, and give me little reflection points throughout the day so I can be on top of things.<\/p>\n

What\u2019s next for me?<\/strong> During Covid, I picked up painting as something I do regularly. It had been a hobby that I had started 10 years back but had never properly pursued until then. It\u2019s something I want to keep doing, study it a bit more, maybe travel to different parts of the world to try to improve at it. On the family side, things are thankfully as good as can be. I couldn\u2019t ask for more.<\/p>\n

I try my best to keep a healthy balance between working and seeing my family.<\/strong> Both my kids are football players, so I try to spend some quality time with them and watch them play on the field, and discuss their future plans in sports and everything else. It\u2019s been a bit more challenging to keep up with hobbies like painting, but I try to devote at least a few hours per week to getting that done. My personal time is something I really value, and it\u2019s something that adds a bit of balance to the tension of the workweek. <\/p>\n

I also really like podcasts.<\/strong> I listen to podcasts about everything from nutrition, health, sports, technology, and everything else. I\u2019d really recommend the Mindvalley Show with Vishen Lakhiani. As for books, I\u2019d recommend Atomic Habits, Usual Suspects, and The Monk Who Sold His Ferrari. <\/p>\n

On the professional side, it\u2019s a bit trickier.<\/strong> Basata currently feels like a job I want to do forever. I have a really exciting role, and the whole fintech and payments ecosystem in Egypt and our region is really exciting as well. In addition to that, what I'm seeing from the team and the people around me, developing their skills and flourishing in the business \u2014 all of it has been really rewarding. So professionally, I don\u2019t see things changing much in the near future. <\/p>\n

The best piece of advice I\u2019ve been given is that we\u2019re here for a short time, and then it <\/strong>stops. <\/strong>Although it may sound dark, there\u2019s also an uplifting side to it, in terms of making the most of what we have and telling people we love that we love them, and keeping up with spirituality and being close to God as well. My friend just said it to me casually one day, but it\u2019s something that stuck with me. <\/p>\n","protected":false},"excerpt":{"rendered":"

My life is a balance between the corporate guy, the family guy, and an Egyptian heart and soul<\/p>\n","protected":false},"author":1,"featured_media":639839,"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":[7156],"tags":[8368,72,8746,387],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-639838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-my-morning-routine","tag-basata","tag-enterpriseam","tag-karim-shehata","tag-my-morning-routine","wpautop","entry"],"acf":{"mongo_id":"81b94e07-c7eb-4dd7-8db4-9bad737ac957","order":"14","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/1367.jpg","photo_position":"above","homepage_title":"Karim Shehata, CEO of Basata Holding","full_issue_title":"My Morning Routine: Karim Shehata, CEO of Basata Holding","related_issue":[639813],"teaser":"My life is a balance between the corporate guy, the family guy, and an Egyptian heart and soul","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.f2f0e957-b119-4c6c-8878-b6146ec1560e.mp3"},"yoast_head":"\nMy Morning Routine: Karim Shehata, CEO of Basata Holding - 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The two will assume their new positions this April. Abdullah joined Vodafone in 1998 upon his graduation with a BA in\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":569328,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/20\/chambers-global-names-top-egyptian-arbitration-litigators\/","url_meta":{"origin":639838,"position":2},"title":"Chambers Global names top Egyptian arbitration litigators","author":"enterpriseam admin","date":"20 February 2020","format":false,"excerpt":"Chambers Global names top Egyptian arbitration litigators: Chambers and Partners, one of the top global directories of legal practitioners, has released its 2020 list of top-ranked Egyptian arbitration firms and lawyers. 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