{"id":650599,"date":"2017-03-28T04:01:09","date_gmt":"2017-03-28T04:01:09","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/28\/retailers-bullish-on-egypt-maf-doubling-down-on-egypt\/"},"modified":"2017-03-28T04:01:09","modified_gmt":"2017-03-28T04:01:09","slug":"retailers-bullish-on-egypt-maf-doubling-down-on-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/28\/retailers-bullish-on-egypt-maf-doubling-down-on-egypt\/","title":{"rendered":"Retailers bullish on Egypt, MAF doubling down on Egypt"},"content":{"rendered":"

<\/a> Retailers remain bullish on Egypt:<\/strong>Majid Al Futtaim (MAF) is doubling down on investments in Egypt, Tamim Elyan writes for Bloomberg<\/a>. \u201cI\u2019m not worried about falling disposable income because for a number of years Egypt has had an official economy that was sustained by a gray one \u2026 The current situation is beginning to look positive compared to where things were,\u201d MAF CEO Alain Bejjani tells Elyan. The under-served population creates a chance for exponential growth<\/strong>, Yasser Abdul Malak, CEO of Nestle\u2019s Northeast Africa unit, adds. Bejjani suggests that the \u201cofficial numbers\u201d might not always match \u201creality;\u201d he says \u201cthe Egyptian market is deep. We have seen a lot of conversion into the official economy and this has helped the market to sustain itself<\/strong>.\" Data from Fawaz Alhokair\u2019s Egyptian unit, Marakez, supports that. The unit\u2019s CEO (and friend of Enterprise), Ahmed Badrawi<\/a>, told Elyan that \u201cthe first two months sales figures of our retailers are better than last year; this is positive because you could potentially expect sales to fall to the ground \u2026 This is a period of adjustment and people are adapting<\/strong>.\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Retailers remain bullish on Egypt:Majid Al Futtaim (MAF) is doubling down on investments in Egypt, Tamim Elyan writes for Bloomberg. \u201cI\u2019m not worried about falling disposable income because for a number of years Egypt has had an official economy that was sustained by a gray one \u2026 The current situation is beginning to look positive […]<\/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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-650599","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"035d8089-b801-45a5-a779-6c7ea882e43e","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[650591],"teaser":"","voice_url":""},"yoast_head":"\nRetailers bullish on Egypt, MAF doubling down on Egypt - 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