Business Today Egypt | October – November 2023, Special Edition
Business Today Egypt | October – November 2023, Special Edition
Business Today Egypt | October – November 2023, Special Edition
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October - November 2023
Vol 28 Issue 8-9 LE 30
A World of Entertainment—
And Potential
In This Issue
Vol. 28
No. 10
October/
November
2023
www.BusinessTodayEgypt.com
14
4
Editor’s Note
28
34
entertainment and its contributions to
Egypt’s cultural and economic landscape.
By Hanan Mohamed
Gaming
Inside Egypt’s Gaming Industry
A look at the promising sector which is
poised for transformative growth and
regional dominance.
By Hanan Mohamed
Theatre and Cinema
Egypt is the Hollywood of the East..
Does it Pay off
A look at the potential of the
entertainment industry in Egypt, most
specifically the film and theater industry,
8
12
14
22
In Brief
A World of Entertainment Insights into
Egypt’s industry.
By Hanan Mohamed
Tourism
Tourism Bounces Back
As the tourism sectors begins to recover,
Egypt is tapping into new industry
revenue streams.
By Nouran Allam
Sports
Egypt’s Sports Horizon: Economic
Impact and Growth
A look at the role of sports in
22
28
34
4 November 2023
www.BusinessTodayEgypt.com
In This Issue
46
40
and how it contributes to Egypt’s tourism
and economy.
By Nouran Allam
40
Streaming
Digital Streaming Platforms:
A New Revolution
How digital streaming platforms have
changed the entertainment industry and
content consumption in Egypt.
By Nouran Allam
54
46
54
58
66
Fashion
Positioning Egypt as a Fashion Hub
The ongoing rise of the fashion
industry contributes greatly to Egypt’s
entertainment industry.
By Nour El-Badawy
Advertising
The Evolution of Advertising Industry
How do advertisements contribute to
entertainment economy?
By Jehad El-Sayed
btscene
Last Word
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www.BusinessTodayEgypt.com November 2023
5
Editor’s Note
A World of
Entertainment—
And Potential
The entertainment industry has witnessed significant transformations
globally in the past few decades, especially with the COVID-19 lockdown
propelled the growth of gaming and digital streaming platforms,
among others. With the promise of lucrative financial profits, the booming
industry is attracting investors from all over the globe, and Egypt is poised to
cash in on the gains.
The worlds of cinema and theater, advertising and marketing, sports, fashion
and gaming are all strong, well-established industries in their own right,
but now Egypt’s government is bringing them together to consolidate revenue
streams under one umbrella: tourism.
As Deputy Editor Hanan Mohamed writes in the introductory piece to our
feature series on Egypt’s entertainment industry and its potential waiting to be
harnessed, “The concept of entertainment, initially confined to special occasions
such as holidays and vacations, has expanded over time and with the improvement
in economic conditions, is becoming a regular feature throughout
the year. The entertainment industry plays a pivotal role in stimulating economic
growth and fostering cultural development. Across various sectors such
as film, music, gaming, and live performances, it contributes to job creation,
revenue generation, and the overall enhancement of a country’s cultural identity.”
Estimates indicate the media and entertainment sector in the Middle East
and North Africa region is poised to achieve a compound annual growth rate
of 7.4% from 2021 to 2026, reaching $47 billion, Mohamed writes. “In Egypt,
the entertainment industry holds immense potential for bolstering the economy
and promoting cultural exchange. With a rich heritage in music, cinema
and art, Egypt has a strong foundation to build upon. By fostering an environment
conducive to creative expression and innovation, the country can attract
both local and international talents, supporting a thriving ecosystem of artists,
performers and creative professionals. The entertainment industry is also a catalyst
for tourism, drawing visitors from around the world to experience Egypt’s
diverse cultural offerings and entertainment events. This influx of tourists contributes
to increased consumer spending, thus creating a ripple effect across
various sectors, including hospitality, retail and transportation.”
And with a goal of attracting 30 million tourists annually by 2028, Egypt
is working on concerted efforts beyond the conventional principles of tourism
that it previously relied on for decades. By positioning itself as a vibrant
regional entertainment hub that encompasses various domains, including
tourism, gaming, digital streaming, live concerts, arts, advertising, marketing,
sports and more, Egypt can strategically invest in its development by nurturing
talent, promoting creativity, and establishing a robust ecosystem that contributes
to sustainable economic growth and cultural enrichment.
In our curated feature package this month we take an in-depth look at the
efforts Egypt is making in promoting its strategic cultural strengths in sectors
such as performance arts, digital streaming and gaming platforms as well as its
burgeoning fashion industry to position itself as a regional entertainment hub.
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In Brief Egypt
Egyptian external debt declines in Q4 FY2022/2023: CBE
The Central Bank of Egypt (CBE) revealed that Egypt’s
external debt reported a decline during the fourth quarter
of FY2022/2023, dropping to $164.73 billion from the
previous quarter’s $165.36 billion.
According to the report, these numbers include $136.58
billion in long-term debt and $28.15 billion in short-term
debt.
The debt-to-GDP ratio reached 40.3% in the fourth
quarter of FY2022/2023, the report explained.
The CBE pointed out that 50.65% of the external debt is
from the government, totaling $83.43 billion, with $29.48
billion in bonds and $53.95 billion in loans.
The central bank contributed to 26.48% of the external
debt, amounting to $43.62 billion, while banks in Egypt
represented 12.73% of the debt, registering $20.98 billion.
Egypt is obligated to make external debt service
payments of $29.23 billion in 2024, $19.43 billion in
2025, and $22.94 billion in 2026. The country is aiming
to generate $191 billion in annual US dollar revenues by
2026.
Family businesses represent nearly 80% of Egypt’s national income
Family businesses represent nearly 80% of Egypt’s
national income, and contribute to approximately
75% of the private sector’s activity in the country,
according to the executive director of the Egyptian
Center for Arbitration and Settlement of Non-
Banking Financial Disputes (ECAS), Marian Kaldas.
Kaldas highlighted during the ECAS’s inaugural
conference on family businesses that these entities
employ nearly 70% of the workforce in Egypt.
The conference, titled “Family Businesses:
Expansion and Continuity Opportunities,” aimed
to explore growth and sustainability prospects
for family businesses. It encompassed three main
themes: expansion opportunities, continuity
prospects, and an assessment of the effectiveness of
current legislation in supporting family businesses in
Egypt.
Kaldas pointed out that approximately 30% of
family businesses continue operations after the first
generation, and only 3% persist beyond the second
and third generations.”
She also announced that Egypt will participate in
the Dubai Arbitration Week for the first time this
year in a session scheduled for November 15.
The ECAS executive director revealed that the
center is preparing for a forum that will bring
together family business companies from across the
Middle East.
November 2023
8 www.BusinessTodayEgypt.com
In Brief Egypt
S&P upgrades Egypt’s outlook to stable,
lowers long-term credit rating
International ratings agency Standard & Poor’s (S&P) Global lowered
Egypt’s long-term sovereign credit rating from B to B-, citing concerns
over the country’s foreign currency shortage, delayed disbursements of
multilateral funding, and debt sustainability.
S&P’s report explained that the downgrade was due to the delayed
progress of Egypt’s structural reforms, as well as narrowed net foreign
assets and the IMF’s postponed reviews.
However, S&P upgraded its outlook for the Egyptian economy from
negative to stable and maintained its short-term B rating.
“Changing the outlook from negative to stable reflects structural
reforms that the Egyptian government undertook recently which
contributed to achieving financial discipline,” explained Minister of
Finance Mohamed Maait in an official statement.
The minister emphasized Egypt’s commitment to implementing
structural reforms and procedures, highlighting the government’s
recent initiatives to eliminate tax exemptions for state companies and
the privatization program’s progress.
S&P stated that it would raise the country’s ratings again once it
implements further reforms to push competitiveness, growth, and fiscal
outcomes, reducing net government debt levels and gross external
financing needs. “Under such a scenario, we would expect renewed
bilateral and multilateral financial support,” S&P explained.
Moody’s downgrades
Egypt’s rating from B3 to
Caa1, with stable outlook
Moody’s Rating Agency (Moody’s)
downgraded in October Egypt’s rating
from B3 to Caa1, with a stable outlook.
Moody’s attributed the downgrade to
the deterioration of the country’s ability
to bear debt and the ongoing shortage of
foreign currencies.
The agency said that the stable outlook is
due to Egypt’s continued access to financial
support from the International Monetary
Fund under an arrangement of $3 billion
over a period of 46 months.
Last May, Moody’s placed Egypt’s B3 long
term foreign-currency and local-currency
issuer ratings on review for downgrade.
Before this rating action, Egypt’s ratings
were B3 and the outlook was stable.
“The review period will focus on the
government’s ability to finalize the targeted
$2 billion in asset sales necessary to meet
the IMF program’s financing targets for
fiscal 2023 (ending June) and demonstrate
the viability of the program’s external
funding strategy that relies significantly
on asset sales,” the statement issued by
Moody’s read.
The rating agency is also placing the
review on the (P) B3 senior unsecured
MTN program rating of the Egyptian
Financial Corporation for Sovereign
Taskeek, Sukuk Company, and its B3 senior
unsecured rating.
www.BusinessTodayEgypt.com
November 2023
9
In Brief Egypt
IMF lowers Egypt’s 2023/2024 growth forecast to 3.6%, expects
4.2% for 2022/23
The International Monetary Fund (IMF) has revised its
growth expectations for the Egyptian economy for the fiscal
year 2022/2023, projecting a growth rate of 4.2% compared to
the previous estimate of 3.7% in the July report. However, it has
lowered its expectations for the current fiscal year 2023/2024 to
3.6%, down from the earlier projection of 4.1% in July.
According to the World Economic Outlook report, the IMF
anticipates that consumer prices in Egypt will increase from 13.2%
in the fiscal year ending in 2022 to 35.7% 2022/2023, followed by
a decrease to 25.9% in 2023/2024.
Egypt intends to issue
$500M in Samurai
bonds in November
Minister of Finance, Mohamed
Maait, said that Egypt will offer
“Samurai” bonds in Japanese yen
before the end of November, at a
value of $500 million.
Samurai bonds are bonds
denominated in Japanese yen, issued
by foreign borrowers on the Tokyo
Stock Exchange. In March 2022,
for the first time in its history, Egypt
issued international “Samurai” bonds
worth $500 million, which were then
equivalent to about 60 billion yen.
Maait’s talk with “Al-Sharq with
Bloomberg” comes after Egypt issued
“Panda” bonds earlier in October,
in the Chinese market in the yuan
currency, also worth $500 million.
The yields on the “Panda” bonds
issued by Egypt reached 3.5%
annually for a period of three years,
which Maait described at the time
as a “very low return in a financial
market that is new to us, and in
unfavorable conditions that include
many challenges.”
However, the yield on Egyptian
bonds is much higher than the average
yield on similar Japanese government
bonds of 0.116%, while the yield
on three-year Chinese government
bonds reaches 2.389%, according to
Al-Sharq with Bloomberg.
Egypt extends the car import initiative for
3 months
The House of Representatives of Egypt has given its approval to a bill that
extends the expat car import initiative for an additional three months. The
decision was made during the general session held in October, indicating
the government’s commitment to supporting this program.
Under the program, Egyptians residing abroad are allowed to import
cars without paying any taxes, with one condition: they must deposit an
equivalent amount in a five-year foreign currency certificate of deposit.
This requirement ensures that the country benefits from the influx of
hard currency, while also providing an opportunity for expats to bring in
vehicles without the burden of taxes.
During the session, it was announced that the second phase of the
initiative is projected to generate approximately $1.1 billion in hard
currency receipts. Moreover, the Cabinet has the authority to extend the
program for another three months if needed.
The bill encompasses the same conditions and regulations as Law No. 161
of 2022. According to these provisions, Egyptians seeking to take advantage
of the initiative must possess a valid legal residence abroad and should not
have previously utilized the benefits offered by the program. The specific
amount of foreign currency required for the transfer depends on the type
and model of the car being imported.
November 2023
10 www.BusinessTodayEgypt.com
In Brief Egypt
CBE eases restrictions on traveler’s credit card usage
The Central Bank of Egypt (CBE) has announced
that it is lifting restrictions on credit card usage
abroad for travelers to facilitate the use of credit cards
for foreign currency transactions and limit difficulties
facing bank users.
The central bank shared that it decided to ease
restrictions as part of its broader efforts to support the
Egyptian economy and its citizens, and crack down on
the misuse of credit cards.
The CBE’s release explains that travelers will be
able to use their credit cards abroad without any
restrictions, as long as they notify their bank of their
travel plans and provide proof of their travel within
90 days.
Credit card users in Egypt must now prove that
they used their cards while traveling abroad and
submit proof of travel, such as departure and arrival
stamps on their passport or proof of their continued
stay abroad, to their issuing bank within 90 days of
notifying the bank.
If they fail to do so, their bank will alert the Egyptian
Credit Bureau (I-Score), which will then place them
on its “negative list.” This means that the card user
will be prohibited from issuing new credit cards or
benefiting from certain banking services.
The CBE’s decision to blacklist credit card users
who misuse their cards is part of its efforts to support
the Egyptian economy and prevent foreign currency
shortages.
In a prior statement released earlier this month, the
central bank directed banks to curb foreign currency
credit card limits.
The CBE instructed banks to require credit card
users to submit documents to their bank in order to
be able to use their credit cards for foreign currency
transactions abroad, and was issued due to some users
misusing their cards and withdrawing cash abroad
despite not traveling.
Trade deficit down by 22.3% in August to $3.8B: CAPMAS
Egypt’s trade deficit shrank by 22.3% in August 2023
to record $3.88 billion, compared to $4.99 billion during
the same month in 2022, according to a new report by
the Central Agency for Public Mobilization and Statistics
(CAPMAS).
Exports from Egypt declined by 1.9% to reach $3.36
billion during August 2023, compared to $3.43 billion
reported in August of last year.
Imports fell by 14%, reaching $7.24 billion at the end
of August, compared to $8.42 billion recorded in August
2022.
www.BusinessTodayEgypt.com
November 2023
11
A World of
Entertainment
Insights into Egypt’s
industry
By Hanan Mohamed
concept of entertainment, initially confined to special occasions
such as holidays and vacations, has expanded over
Luxury, happiness, and entertainment are goals time and with the improvement in economic conditions, is
emphasized in the plans of governments worldwide.”
The entertainment industry has witnessed The entertainment industry plays a pivotal role in stimu-
becoming a regular feature throughout the year.
significant transformations globally in the past lating economic growth and fostering cultural development.
Across various sectors such as film, music, gaming,
few decades, especially with the COVID-19 lockdown that
helped in the growth of several entertainment industries and live performances, it contributes to job creation, revenue
generation, and the overall enhancement of a coun-
such as gaming and digital streaming. It no longer serves
solely as a source of revenue in the tourism sector, but is try’s cultural identity.
rather becoming an industry that attracts investors from Estimates indicate that the media and entertainment sector
in the Middle East and North Africa region is poised to
around the world due to its high financial returns.
This industry makes significant contributions to the achieve a compound annual growth rate of 7.4% from 2021
gross domestic product (GDP) of many countries, and to 2026, reaching $47 billion.
creates numerous job opportunities. It is expected that investments
12 September will flood 2023 this sector in the coming years. The its goals. There are difficult www.businesstodayegypt.com
economic conditions
However, there are challenges facing the sector and
result-
ing from prolonged geopolitical developments witnessed
worldwide, but they affect emerging economies the most.
The impact of these challenges varies from one country
to another in the region depending on its economic
capabilities. While efforts to develop and enhance the
sector continue in some countries, others struggle to allocate
more resources to promote the sector and achieve its
added value. Moreover, there is a varying audience interest
in various entertainment channels, with many families, especially
in lower-income countries, experiencing financial
constraints, leading them to reduce their expenses on nonessential
needs.
In Egypt, the entertainment industry holds immense potential
for bolstering the economy and promoting cultural
exchange. With a rich heritage in music, cinema and art,
Egypt has a strong foundation to build upon. By fostering
an environment conducive to creative expression and innovation,
the country can attract both local and international
talents, supporting a thriving ecosystem of artists,
performers and creative professionals.
The entertainment industry is also a catalyst for tourism,
drawing visitors from around the world to experience
Egypt’s diverse cultural offerings and entertainment
events. This influx of tourists contributes to increased consumer
spending, thus creating a ripple effect across various
sectors, including hospitality, retail and transportation.
Egypt has set a target to enhance tourism and attract 30
million tourists annually by 2028, according to the Minister
of Tourism and Antiquities, Ahmed Issa. To reach that
target, there needs to be concerted efforts beyond the conventional
principle of tourism that Egypt has relied on for
decades.
Investments in infrastructure and technological advancements
within the entertainment industry can further amplify
its impact on the economy. By leveraging digital platforms,
streaming services, and cutting-edge production
www.businesstodayegypt.com
facilities, Egypt can position itself as a regional and global
leader in the entertainment sector, attracting investment
and fostering innovation.
A recent report from the Central Bank of Egypt revealed
positive developments in the tourism sector. In
the fiscal year 2022/2023, Egypt’s tourism revenues witnessed
a remarkable growth of 26.8%, reaching $13.6 billion
compared to $10.7 billion in the previous fiscal year
(2021/2022). The report also highlighted a 35.6% increase
in the number of inbound tourists, totaling approximately
13.9 million visitors.
The number of nights spent by tourists in Egypt rose by
27.6% to a record of 146.1 million nights during the fiscal
year 2022/2023.
The entertainment industry also acts as a soft power
tool, showcasing the cultural richness and diversity of a
nation to a global audience. Through the export of cultural
products and content, Egypt can enhance its global
presence, fostering international collaborations and partnerships
that drive economic growth and cultural exchange.
By recognizing the multifaceted benefits of the entertainment
industry, Egypt can strategically invest in its development
by nurturing talent, promoting creativity, and
establishing a robust ecosystem that contributes to sustainable
economic growth and cultural enrichment.
Egypt’s entertainment industry has undergone a significant
transformation, emerging as a vibrant sector that encompasses
various domains, including tourism, gaming,
digital streaming, live concerts, arts, advertising, marketing,
sports and more.
Renowned for its rich cultural heritage and historical
significance, Egypt has evolved into a hub for diverse
entertainment experiences, attracting both domestic and
international audiences. In this issue delve into the multifaceted
dimensions of Egypt’s entertainment landscape,
highlighting the dynamic growth and potential opportunities
across its various sectors. September 2023
13
Tourism
Tourism
Bounces
Back
Photography by Kareem Abdel Aziz
14 November 2023
www.businesstodayegypt.com
As the tourism sectors
begins to recover, Egypt is
tapping into new industry
revenue streams.
www.businesstodayegypt.com November 2023
15
Tourism
By Nouran Allam
Egypt’s tourism industry is one of the
country’s leading economic sectors,
but many believe it is not even close
to bringing in the number of tourists
that could very well visit each year. Given
its potential comprising striking archeological
heritage, stunning coasts, and landscape, and
rich culture, Egypt is looking into novel ways of
showcasing the country’s wonders to the world.
Tourism in Egypt generated about 389 billion
EGP for the Gross Domestic Product (GDP) in
2018. The sector is also a major employer in the
country with a workforce of 2.16 million in 2021.
This is the case worldwide; the total contribution
of travel and tourism to the global economy
amounted to $7.71 trillion in 2022. This figure
was forecast to reach an estimated $9.5 trillion in
2023, according to Statista.
After a downturn during the COVID-19 pandemic
and the Russian-Ukrainian war, the Egyptian
tourism industry has been showing signs of
recovery. In the first seven months of 2023, the
number of tourists visiting Egypt increased by
40% compared to the corresponding period last
year. Fitch Solutions predicts a further 11.6%
annual rise in incoming tourists, with numbers
reaching 13.1 million in 2023 compared to 11.7
million in 2022. This growth will positively im-
Tapping into Toursim
Potential
Cultural and archeological tourism
Egypt is home to ancient wonders
such as the Great Pyramids of Giza,
the Sphinx, Luxor’s temples and
tombs, and the Valley of the Kings.
Historical and cultural tourism is
a major draw for visitors who are
interested in exploring Egypt’s
ancient civilization, archaeological
sites, and museums.
Adventure tourism
Egypt’s diverse landscapes provide
opportunities for adventure tourism
including ctivities such as hiking,
mountaineering, snorkeling, diving,
sandboarding, kite surfing, and safaris
are popular among adventure seekers.
Leisure and entertainment
tourism
Egypt has always been called
the “Hollywood of the Middle East”
and hosts various cultural events
and festivals throughout the year.
This includes the Cairo International
Film Festival and El-Gouna Film
Festival, both of which are attended
by international actors, producers
and filmmakers. Egypt also hosts
international artists to perform. Major
fashion houses also choose Egypt
as a destination for their shows and
collection launches.
16 November 2023
www.businesstodayegypt.com
Tourism
pact the nation’s tourism revenue, which is
projected to climb from $13 billion to approximately
$14.4 billion. Egypt aims to increase visitor
turnout by 25%-30% annually to reach 30
million tourists by 2028.
Cultural and archeological tourism, adventure
tourism, and leisure and entertainment tourism
have been identified by the Ministry of Tourism
and Antiquities as the most important tourism
products it is working to advance in the country.
New Alamein Means a New Approach
In late August, President Abdel-Fattah Al-Sisi,
Prime Minister Mostafa Madbouli, and Minister
of Tourism and Antiquities Ahmed Issa addressed
important goals related to Egypt’s tourism
industry. The primary objectives discussed
included creating an advantageous investment
environment in various tourist destinations, and
expanding the availability of hotel rooms.
The meeting focused on means to enhance
the growth of inbound tourism and to support
Egypt’s aspiration of attracting 30 million visitors
annually by 2028.
“Egypt presents El-Alamein City as a new
tourism product that allows Egypt to maintain
tourism throughout the year. The area on the
northern coast has one of the most beautiful
www.businesstodayegypt.com November 2023
17
Tourism
and purest ecological coasts and beaches in the
world,” Magdy Sadek, member of the Chamber
of Tourism, told Business Today.
“Egypt has also provided visa facilities for yacht
tourism, festivals, and conferences so that anyone
who comes to attend a party or event can obtain
a completely free visa,” Sadek commended
the new measure allowed by the government.
Rising from the shores of the Mediterranean,
New Alamein City is built over 48,000 acres with
investments of more than 40 billion EGP. Not
only is it a resort destination, but New Alamein is
also a fully operational year-round city and is positioned
as a second administrative capital with
headquarters for the cabinet. During the summer,
New Alamein City hosted an entertainment
festival with a wide range of music, cultural,
shopping and sports activities. The festival included
concerts by international, Egyptian and
Arab artists such as Russ and Disco Beirut and
also a fashion show by Michael Cinco.
Local media reported that the festival hosted
more than a million visitors to New Alamein,
in addition to cash flows registered at Alamein
Airport as a result of airline tickets booked by
expats.
Vice President of the New Alamein Authority
Mohamed Khalil proudly announced that the
occupancy rate in the city of El Alamein reached
100% during the Alamein Festival.
The Toursim Chamber’s Sadek also shed light
on Egypt’s recently introduced visa option that
facilitates travel for foreigners interested in visiting
the country. This new visa, known as the fiveyear
multiple entry visa, was announced by the
Egyptian Ministry of Interior on June 18. It offers
greater convenience and flexibility for travelers
by allowing them to enter Egypt multiple times
within a five-year period.
To obtain a five-year multiple entry visa, visitors
are required to pay a fee of $700 (equivalent
to approximately EGP 21,630). This fee covers
the cost of the visa and the associated administrative
processes. With the new visa, holders are
permitted to stay in Egypt for a maximum of 90
days per trip.
18 November 2023
www.businesstodayegypt.com
Tourism
Identifying Challenges
While Egypt possesses impressive tourist destinations
and great potential for growth, the industry
still faces several challenges that impact its
potential.
These challenges include security concerns
whereby one of the primary challenges for Egypt’s
tourism industry is security. Egypt has faced periodic
security issues and political instability, leading
to concerns among potential tourists about
their safety.
Infrastructure and services are another area of
concern where Egypt needs constant investment
and improvement in transportation networks,
including airports, roads, and public transportation.
When it comes to hotel occupancy, Egypt does
not have enough hotel rooms to accommodate
the growing number of tourists visiting the country.
This can lead to high hotel rates and difficulty
finding accommodation, especially during peak
tourist seasons.
“It is essential to grant tax and customs duty exemptions
to companies involved in hotel construction
in Egypt. This exemption should
be applicable for a minimum period of
five years, which aligns with the duration
required for hotel construction.
Then, we can effectively expand hotel
capacity to 500,000 rooms, ultimately
attracting 30 million tourists and
achieving an annual revenue of 30
billion,” Sadek suggested.
Solutions Ahead
By investing in marketing and promotion,
Egypt can do more to promote
its tourism industry to the world. This
could be done through targeted marketing
campaigns, social media, and public relations.
Egypt should still improve its infrastructure and
transportation system to make it easier for tourists
to get around the country. This could include
building new roads, airports, and public transportation
systems.
New tourism products and experiences need to
be developed to attract a wider range of visitors.
This could include developing ecotourism, adventure
tourism, and cultural tourism products.
Further improvement of the quality of services
offered to tourists is needed. This includes everything
from hotel accommodations to restaurant
food to tour guide services. This will help to create
a positive experience for visitors and encourage
them to return.
Egypt aims
to increase
visitor turnout
by 25%-
30% annually
to reach
30 million
tourists by
2028.
www.businesstodayegypt.com November 2023
19
Stop Watching, Start Living:
Mountain View’s Interactive
Venture, ALIVA, Unveils Itself with
Mo Salah as the Face of the Campaign
Building on its journey with the sole purpose of revolutionizing
the real estate industry by adopting a unique strategy
that stands on happiness and innovation, Mountain View
introduces its biggest real estate project, ALIVA, with a
campaign starring none other than the global Egyptian megastar, Mo
Salah, under the slogan “Stop Watching, Start Living.” ALIVA occupies
a paramount position within Mostakbal City, occupying the largest
developer land area and enjoying a strategic location that is directly
accessible from Eastern Ring Road, 10 minutes from Suez Road, 19
minutes from Mountain View 1, 17 minutes from MV Hyde Park, and
around 20 minutes from the AUC.
Being a forward-thinking real estate developer who is always setting
new trends and exceeding all expectations, ALIVA is a true depiction of
Mountain View’s vision of “Bringing Life to Land and Spreading Happiness
Around Us.” Spanning over 638 feddans in New Cairo, ALIVA
emerges as a vibrant urban utopia that thrives around the core concept
of being present in every moment. With an investment of approximately
EGP 140 billion and around 12,000 units, the project introduces
five innovative and engaging experiences across nine parks operated
by the Lighthouse (an experiential happiness destination and community
development hub) designed to cater to the diverse aspirations of
individuals for personal growth through a wide range of activities and
workshops.
Inspired by the very essence of the word “alive,” ALIVA catalyzes an
engaged community ethos, actively promoting participation and interaction
over passive spectating. This innovative approach creates a pervasive
ambiance of vitality and sociability across the exceptional nine
parks incorporated within the project: Fields Park, River Park, Lagoon
Beach Park, Club Park, Mountain View 5, Mountain View 5.1, Central
Park, HeartWork and WonderVille.
Mountain View has provided a glimpse of ALIVA’s philosophy and
how the city aspires to enable its community to step down from the
spectator’s seat and experience life firsthand in order to show its residents
what it means by “Stop Watching, Start Living,” employing a
remarkable AD campaign narrative featuring one of the era’s most
consequential figures, Mo Salah. The AD campaign was successful in
conveying a powerful message that demonstrates how ALIVA is the solution
to the modern real estate conundrum of offering real estate
projects that include both high-quality housing units with stunning
views yet, engaging family-friendly experiences.
Through the AD, Mountain View unveiled two of its recently
launched new experiences: Fields Park and River Park. Fields Park will
indulge Mountain View families to partake in an authentic gardening
and agricultural experience at the project’s core, culminating in
a genuine farm-to-table gastronomic dining experience. River Park,
which takes its cues from the Canal of Amsterdam, offers a diverse
range of lively and engaging experiences. Some of those vibrant experiences
are kayaking, which can be used for training as well as an
environment-friendly means of transportation within the park; cycling;
yoga sessions on a wooden deck, and portrait sketching on the
parks’ iconic bridges to elevate the overall canal-centric experience
within the community. Through such mesmerising activities, River
Park brings the waterfront living experience to the heart of the city.
What is more interesting is that ALIVA fosters a 100-step forwardthinking
administrative hub, “Heartwork,” built on the revolutionary
concept of the four pillars of happiness: heart, mind, body, and soul,
for an integrated, lively experience. Furthermore, the fully integrated
city has a wide range of amenities, including mosques, “Wonderville,”
the experiential retail zone, in addition to an exquisite club dedicated
specially for watersports activities, as well as MV Club, which is
distinguished by its vibrant courts and play zones, emphasizing the
principle of “Everyone Plays.” These trailblazing products, with their
innovative concepts, are seamlessly integrated into the ALIVA project
venture to achieve meaningful happiness and promote the development
of healthy and happy communities.
With an illustrious presence in the real estate realm spanning 18
years, Mountain View embarked on its mission to reshape the Egyptian
real estate landscape. ALIVA, the latest jewel in its crown, builds
upon the immense success of its iCity project, underscoring Mountain
View’s unwavering commitment to introducing new real estate
concepts that transform the real estate market. Mountain View managed
to achieve this transformation by applying the Science of Happiness
and leveraging cutting-edge technologies and bespoke experiential
offerings tailored to serve the evolving demands of its customers.
Sports
Egypt’s
Sports
Horizon:
Economic
Impact and
Growth
22 November 2023
www.businesstodayegypt.com
Sports
A look at the role of
sports in entertainment
and its contributions
to Egypt’s cultural and
economic landscape.
By Hanan Mohamed
Photography by Kareem Abdel Aziz /
Mohamed El Hosary / Amr Mostafa
Sports play a crucial role in the entertainment
industry, contributing significantly
to the overall cultural and economic
landscape of a country. They
offer a diverse range of events, tournaments,
and competitions that capture the attention
of a global audience.
Countries can benefit from sports in ways such
as economic growth, infrastructure development,
cultural exchange, national branding and
promotion, social cohesion and well-being.
“Sports represent a strong industry worldwide,
with economic and social dimensions in people’s
lives,” Minister of Youth and Sports Ashraf Sobhy
has said. He noted that the size of investments
in the sports industry globally was estimated at
around $840 billion annually in 2020, compared
to $700 billion in 2017.
The minister added that the contribution of
sports to the national income comes right after
the cinema and automotive industries. It equals
the size of the construction-related businesses
sevenfold in some countries.
According to the newly set national sports strategy,
Egypt has supported sports to contribute
to comprehensive development underway in
the country. Multiple sports facilities and entire
sports cities have been established to host
international competitions. Egyptian champions
are given the required attention to
qualify for international competitions at
the African, world, and Olympic levels.
Additionally, investments have
been made in social and service
projects in youth centers and
sports clubs.
Sobhy explained that the total
investments in the sports market
in Egypt amounted to EGP 28 billion, with the
private sector accounting for about EGP 6 billion
over 4 years, primarily in the construction, real
estate development, and contracting sectors.
For its part, the government focused its investments
on financial resources to achieve the desired
goals. Hence, the government invested in
asset management and other aspects to encourage
the private sector and attract investments.
In support of the social and service aspects, the
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November 2023
23
Sports
Youth Bodies Law has been amended to expand
partnership projects through the Build-Operate-
Transfer (B.O.T) system for youth centers.
According to the sports minister, the total private
sector investments for the development of
youth centers and sports facilities has
reached EGP 2.8 billion, while retaining
state-owned assets without
any privatization. Meanwhile, investments
in small and service projects
over the past 4 years amounted to EGP
2.4 billion, whereby 100 swimming
pools were constructed compared to
44 swimming pools built over 30 whole
years.
The ministry launched a project to
renovate youth centers in collaboration
with government banks with investments estimated
at EGP 3 billion under the usufruct
system. In sports clubs, the value reached EGP
3.2 billion.
Economic Considerations
“Official interest in sports is primarily attributed
to both short-term and long-term economic
considerations. This interest is fueled
by Egypt’s Vision 2030 strategy, which seeks
alternative resources to finance the Egyptian
treasury in lieu of declining traditional sources
of national income. This vision relies on sports
as a central and sustainable axis for funding
the Egyptian treasury,” researcher and writer
Nouran Sayed wrote in a report.
She said that the government policy seeks
to attract foreign investment to the Egyptian
sports market, encouraging other
categories of investment to take similar
steps. This policy sees opportunities provided
by Egypt’s large youthful demographic, which
implies a significant pool of potential talents.
Each talent becomes a project for investment,
surrounded by numerous job opportunities, investment
contracts, and local agents.
According to Sayed, these competitive advantages
aim to transform Egypt into a major sports
hub in Africa and the Middle East in terms of
technical expertise, sports investments, innovation,
and sports decision-making.
“Egypt aims to seize the lion’s share in reaching
these goals by enhancing sports cooperation
with African countries, where Egypt establishes
sports infrastructure in these countries or supplies
relevant industries and services,” she noted.
The intended internal political impact remains
to provide employment opportunities for wide
segments of Egyptians through local and foreign
sports investors, contributing to improving the
social and economic conditions of many people
linked to the sports machine individually and autonomously,
she continued.
24 November 2023 www.businesstodayegypt.com
Sports
Opportunities for Growth
Hosting sports events can attract a large influx
of tourists, leading to increased spending on accommodations,
transportation, and local businesses.
This surge in economic activity contributes
to the growth of various sectors, including
hospitality, retail, and transportation.
In recent years, Egypt has hosted numerous
championships. In 2018 alone, it hosted the Arab
and African BMX Cycling Championship at the
Armed Forces Stadium in the City of the Future,
the Arab and African Duathlon (Running - Cycling)
Championship in Luxor, and the Arab and
African Triathlon Championship in Sharm El-
Sheikh. It also hosted the 14th African Rhythmic
Gymnastics and Trampoline Championship at
Cairo Stadium and the 16th World Finswimming
Championship for Juniors in Sharm El-Sheikh.
In 2019, Egypt hosted several important championships,
notably the African Cup of Nations, in
which Egypt saved the day after the tournament
was withdrawn from Cameroon due to the failure
to complete the tournament’s facilities and Morocco’s
apology. Egypt was assigned the tournament
just six months earlier, and Ramadan was
one of those months. However, with the Egyptian
efforts and the strong support of the government,
all stadiums were prepared in the latest style, and
the championship was successfully held in Egypt.
Egypt hosted the African Cup of Nations for
Under-23, qualifying for the Tokyo Olympics, the
African Women’s Volleyball Championship, the
African Women’s Basketball Championship, and
the African Weightlifting Championship at Cairo
Stadium. Moreover, it hosted the Modern Pentathlon
World Cup in the Fifth Settlement and
the African Youth Canoe and Kayak Championship
in Alamein.
Despite the COVID-19 pandemic, Egypt succeeded
in hosting numerous championships
in 2020 and 2021, including the World Youth
Pentathlon Championships under 17 - 18 - 21
in Alexandria, the World Junior Cycling Championships,
and the Arab and African Triathlon
Championships in Sharm El-Sheikh.
Other championships include the African Sailing
Championship in Alexandria, the African
U-20 Athletics Championship, the African Karate
Championship at Cairo Stadium, and the Arab
Speedball Championship in Sharm El-Sheikh.
In October 2020, Sharm El-Sheikh International
Camel Championship was held, and a
month later in November 2020, the African
Men’s and Junior
Basketball Championship
was held. Egypt
continued to host the Golden
Cleopatra International Chess
Championship in January 2021, the World
Handball Championship in January 2021, the
sixth Arab Rugby Championship for men
and the first for women in February
2021, and the International Professional
Squash Championship for
men and women in March 2021.
Further, Egypt organized the
World Shooting Cup Championship
from February to March
2021, the African Track and Field
Championship at Cairo Stadium
in March 2021, and the World
Weapons Championship (youth and
www.businesstodayegypt.com
November 2023
25
Sports
junior) in April 2021.
These championships reveal that Egypt not
only focuses on popular sports but also individual
ones where champions are achieving more
medals daily. Recently, Egypt has made remarkable
progress in individual sports, securing a
significant number of medals. Notably, Egyptian
champions clinched 6 Olympic
medals for the first time in
the country’s sports history,
including one gold, one silver,
and four bronzes. Additionally,
in the Paralympic Games, Egyptian
challengers secured 7 medals, comprising
5 silvers and 2 bronzes, with the potential
for even more success if not for some instances
of ill fortune. Egyptian squash has consistently
dominated the World Squash Championships
for both men and women, culminating in an
all-Egyptian face-off in the finals of the most
recent edition.
The Egyptian Minister of Youth and
Sports, Ashraf Sobhy, simultaneously announced
the details of athletes’ rewards
in various individual and team sports, aiming
to address the recent trend of Egyptian
players leaving the country and competing
for other teams. The sponsorship program
for Olympic champions includes
a monthly salary, allowances, support
for participation in camps and international
championships, and the provision of clothing
and sports equipment. As part of the new recognition
and increased rewards program, winners
of gold medals in the Olympic and Paralympic
Games receive EGP 2 million, while silver medalists
receive one and a half million pounds,
and bronze medalists receive EGP 1 million.
The fourth-place finisher is treated the same as
the third-place finisher in the event of sharing
the bronze medal. These measures were implemented
in response to a recent wave of Egyptian
athletes fleeing the country, many of whom
cited inadequate salaries and services, despite
their success in global and continental competitions
representing Egypt.
National championships are the main source
of income for the continental federations.
The host country receives 20% of all revenues
garnered by the African Union from the tournament,
including tickets, television returns,
advertisements on the pitch, and all yields the
federation gains.
This would be reflected in Egypt as a surge
in tourism revenues, hotel occupations, trade,
industry, and of course the unemployment rate
would decline during this period owing to seasonal
jobs and crafts.
Moreover, preparing for major sports events
often necessitates the development of modern
26 November 2023 www.businesstodayegypt.com
Sports
sports facilities, stadiums, and transportation networks.
These infrastructural improvements not
only enhance the overall sporting experience but
also leave a lasting legacy for the host country,
promoting future tourism and economic activities.
Sports events provide a platform for cultural
exchange and international collaboration. They
bring together athletes, teams, and spectators
from diverse backgrounds, fostering a sense of
camaraderie and promoting cultural understanding
and diplomacy. Successful sports events
can elevate a country’s global profile, serving as a
means to showcase its cultural heritage, hospitality,
and organizational capabilities. Effective promotion
of national values and identity through
sports can enhance a country’s reputation and
influence on the international stage.
Indeed, sports promote social cohesion and
a sense of national pride, fostering unity and
solidarity among people. Needless to say, they
encourage physical activity and healthy competition,
contributing to the overall well-being and
mental health of individuals.
By strategically investing in sports infrastructure,
fostering a culture of sports participation,
and hosting international sports events, countries
can leverage the power of sports to boost
their economies, enhance their global image,
and foster social development and well-being.
Investment Potential
A paper titled “Obstacles to Investment
in the Sports in Egypt” provided recommendations
to strengthen sports investment
in Egypt. It emphasized a comprehensive national
strategy and long-term planning, creating
a clear roadmap for sports investment, focusing
on previous commercial interests, and
training programs for individuals involved in
the sports industry.
The recommendations also underscore
establishing a robust database, facilitating
legal and financial provisions, and streamlining
licensing procedures. They highlight
clear dispute resolution mechanisms
and inter-ministerial coordination to support
the growth of the sports investment
in Egypt.
www.businesstodayegypt.com
November 2023
27
Gaming
Inside Egypt’s
Gaming
Industry
A look at the promising sector which is poised for transformative
growth and regional dominance.
28 November 2023
www.businesstodayegypt.com
By Hanan Mohamed
Amidst the fervor surrounding the highly
anticipated Esports World Cup in Saudi
Arabia, attention turns to Egypt’s gaming
industry and its potential for transformative
growth. With a growing number of
local game developers, a burgeoning market of
gaming enthusiasts, and a conducive environment
for technological advancements, Egypt is poised
to solidify its status as a significant player in the
global gaming market.
The country’s potential to cater for a diverse
range of gaming preferences and interests, coupled
with its strategic geographic location, positions
it favorably to emerge as a key hub for gaming,
innovation and development in the Middle
East and North Africa region and beyond.
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November 2023
29
Gaming
The gaming industry is a diverse and dynamic
sector encompassing the creation, dissemination
and sale of video games and interactive
entertainment across various platforms, including
consoles, personal computers and mobile
devices.
Egypt has hosted the Insomnia Gaming Festival
since 2018, representing a significant step
forward for the gaming industry in Egypt and
the MENA region as a whole. The festival allows
gamers to try out the latest video games,
compete in Esports tournaments, take part in
contests and more.
According to a Adel Abdel-Sadek, an expert
at the International Relations Unit at the
Al-Ahram Center for Political and Strategic
Studies, the gaming sector has a direct impact
on the economy by boosting investment in game
production, promoting trade and consumption,
opening up markets, and increasing revenue.
Abdel-Sadek added in a report that there is also
an indirect impact, as technological and service
innovations developed from games transfer to
other sectors and non-entertainment applications.
This fosters the exchange of knowledge
related to game development, contributing to
the creation of new applications and ideas that
attract more consumers and increase capital accumulation.
Additionally, the electronic gaming
industry helps create job opportunities with
high incomes.
In 2022, Egypt emerged as a leading player
in the MENA region, boasting the highest percentage
of gamers with an impressive share of
58.2%, according to Statista. Data projects that
the number of gamers in the MENA region is
expected to grow substantially, with estimates
suggesting that the figure will reach approximately
87 million by 2026.
Despite the enormous number of users, the
value of revenues from electronic games and
the spending on them in Egypt is relatively low.
According to a study by global research company
Niko Partners, the revenues from electronic
games in Egypt in 2021 were $172.5 million,
accounting for no more than 9.8% of the total
revenues from Saudi Arabia, the United Arab
Emirates, and Egypt, which amounted to $1.76
billion.
While the study expects the revenues from
electronic games in Egypt, Saudi Arabia and
the UAE to reach $3.14 billion by 2025, the
share of the Egyptian market revenues is expected
to remain low in the absence of government
support.
Meanwhile, the governments of Saudi Arabia
and the UAE support the electronic gaming
sector and have launched policies to encourage
the localization of games and the development
of local games.
However, statistics from Statista have predicted
that revenues in the electronic gaming
sector in Egypt will reach $681.3 million by the
end of 2022, continuing to rise to $815.5 million
by 2027.
The video game industry in Egypt, South Af-
30 November 2023 www.businesstodayegypt.com
Gaming
rica and Nigeria is approaching the $2 billion
mark by the end of 2023, according to data
from Statista. Looking at revenue expectations
for each country individually, the video game
industry’s revenues in Egypt are projected to
reach $983.8 million by the end of 2023, accompanied
by an estimated annual growth rate of
8.85%. Smartphone games dominate in Egypt,
comprising the largest sector with a market size
of $665.4 million in 2023.
Egypt’s Position in the Gaming Industry
“It is about to launch! Attempts to kick start
the industry have been around for about a decade
now since the surge of free engines,” says
Ahmed Refae, co-founder of Senet Interactive
and Rocketman Game Designer. “This provided
a solid foundation which can be built upon:
a mixture of experience and an abundance
of young emerging talents all over the place,
thanks to the efforts of educational institutes
and the passion of younger ambitious talents.”
Ahmed Abdel-Aal, founder & CEO of 3BL Esports,
believes that the state of the electronic
gaming industry is “very good” given the attention
of manufacturing companies, and the
abundance of professional teams
in Egypt and foreign investors in
the local community of professional
teams. He anticipates further advancements in
the coming years, emphasizing that the pace of
progress in this field surpasses that in any other
investment field.
Abdel-Aal also highlighta that the Egyptian
community excels in all electronic games, and
they constitute the majority of players in all
professional teams, be they Egyptian teams or
otherwise.
Esports host Ahmed Zakareya points out that
Egypt is the Arab country with the most gaming
activity and consumption, with a tremendous
number of players, professionals, strong teams
and influential figures in most tournaments.
He notes that players in Egypt vary between
casual players of different games, competitive
gamers, and professionals in teams. This
diversity is one of the key strengths. “Despite
Egypt’s infrastructure and network services being
weaker than those of other Arab countries,
Egyptians record excellent sales and figures
year after year, and the industry is flourishing
by the day,” he adds.
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31
Gaming
Strengths and Weaknesses
Abdel-Aal believes that Egypt’s strength lies
in the large community passionate about following
electronic sports, which is the largest
community in the entire Arab world. He provides
examples of Egypt hosting finals of highlevel
competitions, such as Super Doom and
Anusmia, as well as the League of Legends Arab
Championship. Regarding weaknesses, Abdel-
Aal points to the lack of support from the Egyptian
Esports Union compared to other countries,
which support professional teams and
facilitate many procedures for their players.
He attributes this to a lack of awareness about
the field’s potential in Egyptian investment and
the potential profits that the union or the state
could earn by exploiting the strengths of the
Egyptian community and its impact in this field.
Mohamed Ashraf, country manager at
GeekayEsports, agrees that Egypt has a large
human resource base that is passionate about
gaming and E-sports in its various specializations
and areas. He also highlights the scarcity
of specialized companies to guide interested
youth in working in this field, resulting in limited
innovative ideas and funding opportunities.
A Powerhouse for the Gaming Industry
Ashraf also recommends focusing on
infrastructure support and a database,
along with allocating suitable places for
training and activity practice
to achieve fair competition.
He also underscores
the importance of
encouraging investors to
provide financial support,
and motivating publishing
companies and small companies
in this field.
He suggests that the
government establish
training centers and
specialized companies,
organize
competitions for
talents, and allocate
a dedicated
residential and administrative
area with
qualified infrastructure for
programmers and players tailored
to the requirements of this field.
Esports host Zakareya emphasizes
the need for events, platforms, and
an Arab and Egyptian market that
serves the region and understands its requirements
to support Egypt as a purchasing power
and a market that has understood and appreciated
games for years. He added that the availability
of tournaments and partnerships with
regional and international organizations would
significantly help place Egypt on the world map
and support the region with players and professionals.
For his part, Refae highlights Egypt’s cultural
and artistic heritage and its potential in
the gaming industry. He underscored the interdisciplinary
nature of the field and the importance
of understanding the dynamics and
trends within the gaming industry.
“Financial support is needed to further drive
Egypt’s efforts,” he said, encouraging aspiring
individuals to maintain a playful spirit while developing
games and to seek mentors to nurture
their talents and spark creativity.
What’s Next?
Experts highlight the need for increased
support in the gaming industry, emphasizing
the importance of talent development and the
establishment of more organizations and tournaments,
in addition to capitalizing on Egypt’s
growing momentum in the gaming industry,
citing successful collaborations with international
gaming companies and organizations.
Anas Amin, project/community manager at
Riot Games, emphasizes that support is crucial
for increasing the output of the gaming industry,
highlighting the need for places for talent
development and the importance of establishing
more organizations and tournaments.
Amin states that if Egypt can effectively
cater for the demands of the audience,
it stands to gain significant
economic benefits,
leveraging its strong
purchasing power
within the region.
To foster the growth
of the gaming industry,
he suggests
establishing partnerships
and hosting
cultural conferences
that promote industry
development.
Amin also suggests
engaging the country’s
workforce through government-owned
enterprises,
considering the substantial
number of professionals collaborat-
32 November 2023 www.businesstodayegypt.com
Gaming
ing with external companies. He believes that
this strategic approach could further propel
the industry’s growth trajectory and economic
contributions.
At GeekayEsports, Ashraf highlights that
Egypt’s gaming industry is gaining momentum,
supported by initiatives like the Information
Technology Industry Development Agency (IT-
IDA) providing free training in application and
game programming for youth. He also stresses
the benefits of collaborating with international
gaming companies or organizations, citing successful
partnerships with companies like Tamatem
from Jordan, Spoilz from Saudi Arabia and
the Savvy Group.
In April 2022, the Egyptian Esports Federation
signed a partnership agreement with both
ITIDA and the Academy of Scientific Research
to establish the first incubator for startups specializing
in designing electronic games, with
the incubator’s investment reaching EGP 5 million.
The Ministry of Communications and Information
Technology aims to provide a stimulating
environment for creativity in the digital
gaming industry by investing in technical training
for youth. The Education and Communications
Committee of the Senate emphasized
the need to contribute to the development of
electronic games and support companies and
developers working in this field in 2022.
Ashraf notes that further investment in the
gaming industry in Egypt could yield substantial
economic benefits, considering the projected
global value of the electronic gaming sector,
which is expected to reach $339.95 billion by
2027, with the Middle East and North Africa
contributing $6 billion.
He outlines strategies for promoting gaming
culture and community involvement, including
partnering with specialized companies and investors
to host conferences and competitions,
establishing academies and specialized centers
to train youth, and leveraging successful experiences
and experiments.
Despite the current shortfalls in the local
gaming industry, he expresses optimism about
the significant growth of the gaming field in
Egypt, driven by the country’s diverse experiences
and expertise, which could attract a surge
of investors.
Meanwhile, Refae emphasizes proactive
engagement with current trends and global
benchmarks for young individuals in the gaming
industry. He highlights the significance of
teamwork and interdisciplinary collaboration,
as every discipline contributes to the final player
experience.
www.businesstodayegypt.com
November 2023
33
Cinema
Egypt is the
Hollywood
of the East
Does it
Pay off?
A look at the potential of the entertainment industry in Egypt,
most specifically the film and theater industry, and how it
contributes to Egypt’s tourism and economy.
34 September 2023
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www.businesstodayegypt.com September 2023
35
Cinema
By Nouran Allam
The Egyptian entertainment industry
encompasses various forms of media,
including film, cinema, theater,
music, television and radio. Those
play a significant role in shaping the cultural
landscape of Egypt and in spreading ideas and
promoting the nation’s culture. Not only does
the soft power shape the way Egypt’s culture
is protrayed to the world, it also contributes
significantly to its economy.
Known as the “Hollywood of the Middle
East,” Egypt’s cinema industry is one of the
oldest and largest in the Arab world. According
to the Golden Globe Awards website, Egyptian
cinema was born in 1896 when the Lumière
Brothers screened a short film in Alexandria,
only a year after its premiere in France. Since
then, over 4,000 films have been produced in
Egypt.
“Egypt has been used as a film location for
major international productions, thanks to its
unparalleled historic heritage sites, including
the Pyramids of Giza, the Great Sphinx, the
Valley of the Kings, and the Tombs of the Nobles.
Among international blockbusters filmed
in Egypt are Transformers: Revenge of the
Fallen and Malcolm X,” UNESCO’s book The
African Film Industry: trends, challenges, and
opportunities, reveals.
Hence, it is no surprise that the entertainment
industry in Egypt contributes significantly
to the economy. Film revenues in the
2023 summer season exceeded EGP 282 million
from more than 10 Egyptian and foreign
films at about 500 movie theaters. Local media
reports also showed that in 2022, the entertainment
industry contributed an estimated
EGP 36 billion to the Egyptian economy, accounting
for around 1% of the gross domestic
product (GDP).
UNESCO’s book reports that the film and
audiovisual industry in Africa has the potential
to create over 20 million jobs and generate
$20 billion in revenues per
year.
The Egyptian theater
is also an in-
36 November 2023 www.businesstodayegypt.com
tegral part of Egypt’s entertainment and arts
arena with many plays that left a great impact
across generations. Traditional Egyptian theater
includes various performance arts such as
puppetry and folkloric performances in addition
to iconic plays. Modern theater in Egypt
emerged during the early 20th century, and
has since evolved to encompass a diverse range
of styles and genres.
Another form of entertainment that has recently
gained momentum in Egypt is stand-up
comedy. Egypt hosts stand-up comedy shows
and events and has a vibrant comedy scene,
with venues like El-Sawy Culture wheel, The
Room, and Cairo Jazz Club hosting regular
comedy nights. These venues provide platforms
for both established and emerging comedians
to showcase their talent and connect
with audiences.
The rise of stand-up comedy in Egypt has created
career opportunities for comedians, writers,
producers and event organizers. Comedi-
www.businesstodayegypt.com
November 2023
37
ans can earn a living through performances,
TV appearances, corporate and conference
gigs, and online content. The growth of the
industry also contributes to the entertainment
sector’s overall economic impact, including
revenue generation, job creation and tourism
promotion. A lot of these rising standup comedians,
such as The Elite and HelmyMan Events,
have taken their shows to countries like Jordan
and the UAE, which helps in boosting both
Egypt’s tourism and entertainment industries.
“Stand-up comedy is not a trend, it has been
underground for almost 12 years now. In the
past 2 to 3 years, we started seeing stand-up comedians
act in movies, create advertisements
and popular online content, so it has finally
come into the spotlight,” Mina Selim, a standup
comedian, tells Business Today.
Impact on Egypt’s Economy
The cinema and theater industry contributes
heavily to the Egyptian economy through
job creation, cultural and tourism promotion,
and basic revenue generation from film production,
box office, and theater ticket sales.
Both industries offer employment opportunities
for many people, including actors,
directors, producers, technicians, set designers,
sound engineers, video editors, makeup
artists, and stylists among many other roles. It
supports a vast network of professionals who
work both on and off-screen, which contributes
to the overall job market and employment
rates.
Egyptian films and theater productions play
a crucial role in promoting Egyptian culture
and attracting tourists. It is a soft power that
shapes the image and reputation of Egypt
across the world. Many international visitors
are drawn to visit Egypt to explore its history
and get to know its culture, which indirectly
boosts tourism revenue.
“Egypt should utilize the filming locations of
iconic movies and open them for tourists to
visit. This is a great experience that could generate
money for Egypt and contribute to boosting
tourism,” Haitham Abdelatey, an Egyptian
filmmaker, tells Business Today. “Such experiences
have been successfully implemented
abroad in countries like Turkey, and people
from around the world come to see where their
favorite series or movies have been filmed.”
Building a Stronger Industry
The entertainment industry in Egypt faces
several challenges, including the lack of investment
and diverse ideas, piracy, and bureaucracy.
UNESCO also stated that practitioners estimate
Egypt loses 50 to 75% of its film and
audiovisual revenue due to piracy. The book
also states that “funding is a big challenge for
Egyptian producers, especially due to everincreasing
labor and technical costs, and the
star culture, which means that popular actors
command exceedingly high rates.”
“Egypt’s current economic state impacts the
theater and cinema industry; people are more
reluctant to pay money to go to cinemas and
theaters especially with the existence of digital
streaming services and online pirated movies
websites,” Abdelatey adds.
“There has to be continuous
competition between in-
38 November 2023 www.businesstodayegypt.com
Cinema
dustry players. This is what makes people creative
and strengthens the industry with innovative
ideas. Egypt should also have innovative
solutions to encourage more people to come
and film their productions here as part of the
government’s efforts to boost tourism,” Abdelatey
notes.
While Egypt is famous for its archeological
locations, it’s also renown for its red tape
procedures that deprive the country of many
opportunities to shoot international movies
across its breahtaking locations. Egyptian
Hollywood-based director Mohamed Diab
has said that the 2022 Moon Knight, a Marvel
comics-based miniseries about mainly ancient
Egyptian gods, could not be filmed in Egypt
because “permits were late.”
Meanwhile, young generations are more difficult
to appeal to with a movie in a cinema, no
matter how dramatic or comedic.
“The game has changed. People don’t want
to see the same things, they are more into platforms,”
explains Selim. “You have to have new
authentic ideas, get out of the box and get new
writers. We need more genres and ideas because
the new generation is more exposed to
productions of platforms from here and there.
If they don’t find something that is well-executed
and is innovative, they simply
won’t watch it.”
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November 2023
39
Streaming
40 September 2023
www.businesstodayegypt.com
Digital
Streaming
Platforms:
A New
Revolution
How digital streaming platforms have changed
the entertainment industry and
content consumption in Egypt.
By Nouran Allam
The global entertainment industry
has witnessed a shift
towards digital streaming
platforms. In the Middle
East, video streaming services are also
gaining momentum, with an expected
12.27 million subscriptions across 13
Arab countries by 2025, up from 4.13
million in 2019, according to the Middle
East and North Africa SVOD Forecasts
report.
The global video streaming market
size was valued at $89.03 billion in
2022, and is expected to grow at a compound
annual growth rate (CAGR) of
21.5% from 2023 to 2030, according to
data by Grand View Research.
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September 2023
41
Streaming
With the increasing availability of high-speed
internet and the growing popularity of smartphones,
Egyptians have embraced the convenience
and accessibility offered by digital streaming
services. According to a report by the Ministry
of Communications, the total number of internet
users in Egypt reached about 85.8 million in May,
and almost 94% of the Egyptian population owns
a smartphone.
According to a 2023 Statista survey, 93% of
Egyptian respondents identified digital video content
as the most used media service, both in terms
of downloading and streaming.
To fully leverage the potential of the digital
streaming platform industry, it is essential for Egypt
to invest in digital infrastructure, promote digital
literacy, and create a favorable regulatory environment
that encourages growth and innovation.
“The promotion of digital platforms in Egypt
is influenced by several key factors such as the
rapid expansion of internet accessibility and the
widespread adoption of smartphones. With a
larger portion of the population connected online,
digital platforms have gained a broader user
base, making their services more accessible to
the public. The on-demand content and crossdevice
compatibility have resonated with users
seeking flexibility and control over their content
consumption,” a WATCH IT representative tells
Business Today.
The Digital Transformation of Entertainment
WATCH IT is an Egyptian digital streaming
entertainment service founded in 2019 to give its
subscribers access to Arabic TV shows, movies and
programs “with a wide-selection of genres and
languages in a library that is home to the biggest
selection of Arabic content in the world,” according
to their website.
In a panel session titled “The Entertainment Industry,
Creativity, and Culture in a Pandemic Era”
held at the World Youth Forum (WYF), Chairperson
and Managing Director of WATCH IT Nashwa
Gad explained the factors that contributed to
the promotion of digital platforms, including the
many young people who resorted to digital platforms
after the closure of cinemas and theaters
during the pandemic.
“These platforms have become the new theaters
for young people, provided new opportunities for
creators and producers, and have even become a
new source of economic income for countries,”
Gad added.
“It is a dream for any actor to work in a WATCH
IT production and it is very fortunate for all rising
actors that WATCH IT supports and constantly
looks for young and rising talent to give them the
space to shine,” says up-and-coming actor Ahmed
Fadell.
WATCH IT customizes its productions and offerings
to the Egyptian audience’s tastes and preferences.
The platform prioritizes local content
and capitalizes on Egyptians’ content consumption
during peak seasons such as the holy month
of Ramadan.
WATCH IT has also invested in producing original
content, which not only allowed it to draw different
segments of audience, but to also nurture
local talent and provide a platform for creative
expression, as Gad stated during the WYF panel
discussion.
According to Gad, “WATCH IT has been a cata-
42 November 2023 www.businesstodayegypt.com
Streaming
lyst for reshaping the entertainment industry and
content consumption in Egypt and has brought
about severeal notable changes.
WATCH IT has been a driving force in diversifying
the content available to Egyptian audiences.
It has curated a wide range of content, including
an impressive selection of TV shows, programs,
plays, and movies. This diversity reflects the eclectic
tastes of our viewers and supports the growth
of content creators in Egypt and beyond.
When it comes to digital accessibility, the platform
has impacted the way content is consumed
in Egypt. It offers unparalleled accessibility,
whether viewers are at home, on their daily commute,
or anywhere else. This enhanced
accessibility has played a
pivotal role in reducing piracy,
and further securing the rights
of content creators.
WATCH IT has also invested
in the creation of original,
high-quality content with rising
talents. These productions
have enriched its content library
and empowered the creative
industry in Egypt. This
investment has spurred innovation,
and provided opportunities
for emerging talents
to shine.
With its user-centric features
WATCH IT is committed
to delivering a superior
viewer experience.
The platform employs
cutting-edge technology to
provide personalized recommendations, interactive
features and opportunities for the community
to connect and engage. This approach has
enhanced content consumption, and created a
sense of belonging among our users.
“The impact of WATCH IT extends beyond entertainment
by collaborating with local production
companies and investing in technological
advancements,” Gad sums up.
Impact on the Entertainment Landscape
The rise of digital platforms and streaming services
has revolutionized the way Egyptians consume
entertainment. Popular platforms like WATCH IT
have not only provided a convenient way to access
different types of content, but have also opened
doors for local talents to showcase their work.
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November 2023
43
Streaming
This digital revolution has amplified the reach
and impact of Egyptian entertainment, and presented
new avenues for revenue generation and
business opportunities.
In many ways digital streaming services can
disrupt the Egyptian entertainment industry and
contribute to its economic growth. Digital streaming
platforms bring entertainment directly to
people’s fingertips. Users can conveniently access
content on these platforms, eliminating the need
to adhere to traditional broadcasting schedules.
They can consume content that is specifically ca-
Source: A Paper entitled “The development of video streaming industry in Egypt:
examining its market environment and business model” (2020)
44 November 2023 www.businesstodayegypt.com
Streaming
tered to their watch history and preferences. This
can be easily capitalized upon and monetized as
people are more likely to pay for personalized entertainment.
Digital platforms’ emphasis on original content
opens up new avenues for Egyptian filmmakers,
directors, producers and actors. These platforms
are more likely to support local talent, encourage
creativity and provide opportunities for aspiring
artists to showcase their work to a wide audience.
These platforms are updated regularly with
content as people consume and use these platforms
almost daily. According to DataReportal, in
2022 Egyptian internet users aged 16 to 64 spent
on a daily basis 2 hours and 29 minutes using social
media, 3 hours and 30 minutes viewing TV
programs (broadcast and streaming), and 1 hour
and 34 minutes using a gaming consoles.
“As we’ve seen with previous originals produced
by WATCH IT, fresh faces have been given the
opportunity and the steps to be stars, especially
with the good scripts that WATCH IT produces,”
says Fadell. “A good script gives the opportunity
to the crew and cast to realize their full potential.
I personally can vouch for all the above as I’ve
worked as an actor in the series Rivo and can say
that it has been one of the best experiences I’ve
had in the industry.”
Enhanced revenue streams represent another
major change. Digital streaming platforms like
WATCH IT have introduced alternative revenue
streams for content creators. By monetizing subscriptions
and advertising, these platforms generate
income that can be reinvested into producing
high-quality content. This revenue model also offers
a sustainable source of income for the Egyptian
entertainment industry.
WATCH IT’s focus on local content has played
a pivotal role in preserving Egyptian culture and
heritage. A Lot of old Egyptian movies are not
owned by Egypt so WATCH IT helped in creating
an archive of Egyptian movies. Local digital
platforms can also give Egyptian filmmakers, directors,
producers and actors the opportunity to
showcase Egyptian culture, set the narrative and
compete with or combat stereotypes that could be
portrayed in international productions.
“We have had the privilege of taking Egyptian
content to international audiences. Through strategic
collaborations and partnerships, we have
facilitated cross-cultural exchanges, like Om El-
Donya [a documentary on Egyptian history],
that have been beneficial for Egypt’s media industry,
as well as for the global viewers who have
discovered the richness of Egyptian storytelling,”
WATCH IT shares.
Contribution to the Egyptian Economy
The rise of digital streaming and entertainment
services can contribute heavily to the Egyptian
economy. This can happen in several ways and
not only through the direct revenue generation
that comes from subscription fees, advertising
and content licensing that directly contribute to
the country’s GDP.
“WATCH IT makes contributions to Egypt’s
economy on several fronts. Firstly, it fosters partnerships
and collaborations with local content
creators, production companies and rising artists.
This, in turn, creates opportunities in the industry.
We are quite committed to producing original
content and supporting emerging talents,”
WATCH IT representative said.
“Secondly, the digital platform industry has a
direct impact on advertising and marketing in
Egypt. As a thriving platform, we provide segmented
advertising opportunities to businesses
looking to reach our large and engaged user base
through Advertising Video on Demand (AVOD).
Additionally, the data-driven nature of digital
platforms allows for precise targeting and measuring
of advertising campaigns, maximizing the
return on investment for businesses and helping
them grow.”
Other ways include the creation of jobs. The
launch and growth of digital streaming platforms
can create job opportunities and reduce unemployment
rates.
These platforms require a range of professionals,
including software developers, content creators,
digital marketers, customer support staff
and administrative personnel.
Digital streaming platforms can provide a global
platform for Egypt’s cultural content, including
movies, TV shows and music. By featuring Egyptian
content, these platforms promote Egyptian
culture and attract international audiences. This
exposure can lead to increased interest in Egyptian
culture, tourism and exports of cultural products,
contributing to the economy.
By featuring travel shows, documentaries or
virtual tours, these platforms promote Egypt as a
tourist destination. Om El Donya, which is broadcast
on WATCH IT, is a prime example of this.
It is a documentary series that narrates the tale
of the Egyptian civilization from the beginning of
history to the present and also tours different governorates
across Egypt.
The future holds many opportunities for
streaming services. The more ordinary people
have access to showcase their talents, the more
aspects there are to entertainment. WATCH IT
and other offer the right matchmaking platforms
between entertainers and entertainment seekers,
creating a wider horizon for creativity and competition.
“These
platforms
have even
become a
new
source of
economic
income
for countries.”
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November 2023
45
Fashion
Positioning
Egypt as
a
Hub
The ongoing rise of the fashion
industry contributes greatly to
Egypt’s entertainment industry.
46 November 2023
Fashion
By Nour El-Badawy
Egyptian fashion has always been prominent
throughout the ages, and can be
traced back to Ancient Egypt, whose
choice of clothes and colors are up to
modern-day styles. Today, Egypt is repositioning
itself as a regional fashion hub through multiple
initiatives and hosting of related events.
The ongoing rise of the fashion industry contributes
greatly to the entertainment industry.
Not only does it help the rise of brands and
fashion trends, but also it involves fashion shows
and events. The fashion industry is an indirect
contributor to the Egyptian economy, encouraging
tourism and increasing the flow of foreign
currency.
November 2023
47
Egypt: An Open Fashion Show
Egypt’s rich history, grand architecture and
vibrant colors position it as a favorable location
for haute-couture brands to come and showcase
their latest collections. In the past few months,
Egypt hosted different global fashion shows, enriching
the international portfolio of the Egyptian
tourism sector.
In October 2022, Italian fashion guru Stefano
Ricci celebrated his brand’s 50th anniversary in
front of the fascinating Hatshepsut Temple in
Deir el-Bahari, Luxor. More than 1,000 guests,
including celebrities and public figures, attended
the event. The event’s high-end organization,
international participation, and the fact
that it was live streamed brought about free publicity
through the promotional show.
The snowball effect of the Stefano Ricci show
resulted in similar events. Later in December,
Christian Dior hosted its 75th anniversary
in front of the Giza Pyramids to reveal their fall
collection. The jaw-dropping event had over
800 guests, along with foreign media, celebrities,
and both Egyptian and foreign public figures.
For months to follow, global social media
platforms buzzed with footage and commentary
posts from the Dior event in the iconic location
of the Giza plateau.
Choosing Egypt as a destination for big fashion
names to showcase their collections encouraged
other brand names, celebrities, and artists
to follow suit. On August 10, 2023, renowned
Filipino fashion designer Michael Cinco made
his Egypt debut in the New Alamein Festival.
Cinco’s collection, “The Impalpable Dream of
Egypt,” was heavily inspired by Ancient Egyptian
designs and historical illustrations. Much like
the other shows, it hosted multiple national and
international public figures and garnered mass
media coverage.
These marketing campaigns leveraged Egypt’s
capability to host such events, and the social me-
48 November 2023 www.businesstodayegypt.com
Fashion
dia buzz motivated tourists to visit the mesmerizing
historical destinations and explore different
tourist attractions in Egypt.
“Tourism diversity is one of the pillars of the
republic,” says Mahmoud El-Kot, secretary of
the Senate Committee of Culture, Tourism, and
Antiquities, and member of the Coordination
Committee of Youth Parties and Politicians.
In his interview with Business Today Egypt,
El-Kot said Egypt has been focusing since 2015
on developing the infrastructure of the different
facilities and sectors to make up for the long
years of negligence. This includes the thorough
restructuring of the transportation and energy
sectors. The government has also been following
a holistic plan to reform the monumental
and historic sites to be more suitable for international
events.
This highlights Egypt’s potential to bring in a
bigger segment of tourists, allowing the North
African country to gain distinction as a highprofile
tourist attraction in the region. As explained
by El-Kot, fashion events illustrate the
government’s efforts in developing Egypt’s facilities
and boosting the tourism sector, which is
one of the major contributors to the economy.
Egyptian fashion designer Sohayla Ali©, a
graduate of Esmod Paris and owner of Sohayla
Ali Couture, tells Business Today that Egypt’s
prosperous textile industry since the time of
Ancient Egyptians as well as its historical destinations
make it a favorable host for the events
of high-end brands. “In fact, Egypt adds value
to their brands because Egypt has it all,” she
explains. Ali also notes that it is very important
that Egypt’s identity is highlighted in its clothing
industry.
Identity through Fashion
Fashion constitutes an important aspect of a
country’s identity as it embodies the culture and
uniqueness of a community. Fashion advance-
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November 2023
49
ment and evolving trends reflect a country’s capability
to embrace international brands. And
expanding this industry can be an important
pillar of a country’s economy.
“Turathna” is one of the top government-endorsed
initiatives in Egypt. The two-day annual
exhibition is usually held in the fall to showcase
the different handicrafts of Egypt’s governorates.
Turathna is not just a cultural initiative
that educates people about the different heritage
of each governorate, but it is also a promotional
tool for the Egyptian cultural identity.
Turathna’s success over the past few years has
encouraged the participation of multiple small
business owners.
Further, the initiative aims to foster inclusivity,
promoting cooperation with national and
Arab businesses alike, which directly boosts
tourism and trade trends within the Arab world.
A Growing Local Industry
Egypt’s fashion industry is witnessing a major
breakthrough with the emergence of globaltrendy
high-end local brands.
Local names such as Okhtein, Temraza, Nu-
50 www.businesstodayegypt.com
Fashion
niz, Yasmine Yeya, and Azza Fahmy already have
their indisputable international imprint, and
are now the choice of international celebrities.
Queen Rania was spotted wearing Nuniz bags,
Kourtney Kardashian wearing Okhtein, Julia
Roberts in Azza Fahmy jewelry, and the list goes
on.
This trend has also created a snowball effect,
resulting in an increasing interest and trust in
the Egyptian fashion industry.
Sohayla Ali tells BT that the growing interest
in fashion design and trends has given Egyptian
designers the confidence to start their own
design houses. On the global fashion radar, international
buyers are seeking Egyptian-made
items, be they clothes, shoes, jewelry, or bags,
because the price and quality of locally manufactured
products are “more desirable,” she says.
The Fashion and Design Center (FDC) is a
state-sponsored organization established in 2001
in Cairo and Alexandria. FDC is administered
by the Technology and Industrial Innovation
Center, moderated by the Ministry of Trade and
Industry in collaboration with Instituto Di Moda
Burgo Milan, Italy. The center offers programs
to equip students with the required design skills,
supported by technical consultations for textile
companies. Their certificates are accredited by
the Trade and Industry Ministry.
FDC provides many services that go along
with their mission and vision, which is “seeking
to keep pace with the international fashion standards
through providing international accredited
training courses.”
Cairo Fashion Week (CFW) is also a new fashion
forum that was first launched earlier in 2023
by Media Hatem Salem. It is a fashion trade
event that aims to bring together advocates of
the fashion world in one forum. CFW is organized
according to International Fashion Week
standards, and aims to become a nationally
grown platform to provide markets, networking,
marketing, and trade opportunities for both regional
and global designers. Further, CFW is an
opportunity to showcase designers’ work to potential
investors, buyers and the public.
FDC and CFW are both important initiatives
contributing to the revival of the fashion industry
in Egypt. They highlight the public’s interest
in fashion, as well as the government and private
sector’s readiness to create a globally competitive
fashion hub in Egypt.
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51
Fashion
Egypt Fashion Awards (EFA) is another initiative
moderated by SS Consulting and Marakez,
in partnership with the FDC and the British
Council. EFA was established as an annual event
and contest that promotes talented young and
emerging fashion and jewelry designers. The
winners are granted fully paid opportunities
to be able to showcase their designs in international
exhibitions. The winners of the second
edition, which was held September 2023, will
exhibit their designs in the largest trade show in
the UK, Pure London 2024 edition. EFA’s hosts
and judges are stringently selected and include
esteemed ambassadors who share the same vision
and passion for the Egyptian fashion industry.
Such initiatives contribute to the repositioning
of Egypt as a fashion market. Hosting events
and increasing fashion-driven initiatives revive
the fashion industry, adding to the country’s
trade portfolio.
52 November 2023 www.businesstodayegypt.com
Fashion
“We have it all. Egypt is a treasure for design,”
says Sohayla Ali, adding that the growth of the
industry is notable, yet needs more recognition
and the “right marketing on the right track” for
high-end Egyptian couture houses to make it to
the global fashion market, not just to public figures.
Her vision for the future is to establish a highend
hub that gathers all growing fashion designers,
and to create a brick-and-mortar platform
for them to showcase their designs.
Competition in the Region
The UAE and Saudi Arabia account for almost
half of the fashion revenues in the MENA
region. This is evident in consumer behavior
changes, especially in Saudi Arabia. The regional
market is becoming more attractive, resulting
in the booming of the fashion industry and the
entertainment sector as a whole.
The UAE and Saudi Arabia are now experiencing
a new rise of fashion trends combining
the traditional Arab style with international
styles, and causing a rise in the consumer buying
behavior of fashion wear. The Gulf region
has for so long considered luxury brands and
fashion high-end brands as signs of high status;
this is expected to continue to be on the rise,
causing the international market in the region
to thrive.
While international luxury brands are on the
lookout for growth in the region, the rise of local
brands, however, is questionable. Most local
brands in the region are targeting women by
presenting modest traditional garments that are
fit for all.
The Gulf Region is now also home to many
local and international fashion events. The Arab
Fashion Week takes place four times a year in
Dubai; October and March for womenswear,
and January and June for menswear. The event
is coordinated by the Arab Fashion Council, a
non-profit working with Dubai Design District
to promote rising Arab designers globally.
The MENA region is experiencing a new rise
in the entertainment sector, especially in the
fashion industry, and increasing support, fashion
events and councils and helping to position
many local designers.
Egypt still needs to put in a lot of work to be
able to compete on the international and regional
levels as a fashion hub, but the nation has
already taken its first market-aware steps to unveil
the potential of its fashion industry and its
possible, very positive, impact on the economy.
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53
Advertising Industry
Advertising
The Evolution
of
How do advertisements contribute to entertainment economy?
54 www.businesstodayegypt.com
November 2023
Advertising
By Jehad El-Sayed
Egypt’s advertising industry has evolved
over the years from traditional billboards
on main commuter routes to
a huge hub of entertainment with
countless innovative strategies and approaches.
Today advertisements create memorable content
that entertains consumers and achieves
high revenues.
Intertwining advertising with entertainment
has generated the “entertainment marketing”
concept, which engages the larger
audience drawn by an entertaining advertisement,
thus leveraging the popularity of the
advertised products and generating higher revenues.
Business Today spoke with Mohamed
El-Chime, professor of economy at Helwan
University, about the new entertainment marketing
strategies and their contributions to
economy.
“Entertainment marketing approaches,
whether product placement, celebrity endorsements,
or brand integration and so on—have
trumped traditional advertising techniques
among millennials in recent years,” El-Chime
says. “In recent years, many Egyptian brands
prefer to pay to have their products displayed
in a prominent show or used by its characters
rather than paying for a traditional billboard
in the street.”
“Think of movies you’ve seen. If the lead actor
is drinking a clearly labeled soft drink, or
using a clearly labeled cell phone, this is called
product placement,” El-Chime elaborates,
adding that these placements can be subtle or
more overt, depending on the agreement between
the brand and the TV production company.
There is no statistical data on the size of rev-
enues of product placement in Egypt; however,
according to statista, product placement revenues
worldwide will amount to an estimated
$29 billion in 2023, up from approximately
$25.8 billion a year earlier—a growth of over
12%. The annual figure is projected to continue
to expand, surpassing $40 billion by 2026.
“Celebrity endorsement is another main entertainment
marketing approach, where popular
actors, singers or influencers are appointed
as brand ambassadors to endorse products or
services,” El-Chime says.
Telecommunication companies always compete
to partner with popular musicians to release
limited-edition albums or videos exclusive
to the company’s customers. These collaborations
not only promote the company’s services,
but also enhance the reach and popularity of
the music videos and the artists involved.
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November 2023
55
Advertising
“For instance, the Egyptian pop star Amr
Diab was featured in the advertisement of one
mobile operator, which has garnered more
than 16 million views on YouTube, increasing
brand visibility and recognition,” El-Chime
elaborates.
Diab’s partnership with the mobile company
has allowed fans to subscribe to an SMS service
—Amr Diab World—that provides exclusive
news, songs and more content from the superstar.
By associating brands with well-known personalities,
advertisers can tap into the emotional
connection and exploit the fan loyalty
that audiences have for celebrities. This form
of advertising helps build trust and credibility,
influencing consumer behavior and leading to
increased brand recognition and sales.
“Television shows, movies, music videos and
other forms of entertainment currently rely on
sponsorship and advertising revenue to cover
production costs and generate profit. Entertainment
content is a major source of revenue
for Egypt’s economy in direct and indirect,” El-
Chime says of the entertainment marketing’s
contributions on the economy.
In 2022, the World Tourism Organization
stated that entertainment contributed 9.1% to
the Egyptian gross domestic product, offering
more than 2.7% of the job opportunities.
“For its part, the government collects more
than EGP 5 million from the entertainment
sector yearly, according to the economy professor,”
El-Chime adds.
These are not exclusive approaches, as some
brands may choose to sponsor a TV series or a
movie according to their marketing strategies
and objectives, and some partner with studios
to launch joint marketing campaigns that leverage
the popularity of upcoming movies.
El-Chime notes that generally advertising
provides financial support for production
and generates revenue for entertainment
platforms. It also enables targeted marketing,
56 November 2023 www.businesstodayegypt.com
Advertising
enhances brand visibility, facilitates cross-promotion,
and contributes to the overall sustainability
of the production industry.
What do advertising agencies say?
“Although advertising agencies have grown
in number and the advertising giants of Tarek
Nour’s reign have changed, very few companies
still control the advertising market, especially
video production, which in some way is
a monopoly,” says Amr Ragab, CEO of Class7
Advertising Agency.
He says that brands now resort to product
placement to escape traditional ad breaks that
take up too much of the audience’s time.
“Five or seven minutes an hour are taken
from each series to show a flood of repeated
ads. Series and ads have become inseparable,”
he says.
Bakr Mohamed, a marketing specialist at
Smart Media Advertising Agency, tells Business
Today that the holy month of Ramadan
is the high season of entertainment marketing,
emphasizing that meeting the audience’s high
expectations for Ramadan is one of the biggest
challenges marketing agencies deal
with.
Ramadan boasts numerous series
and shows that leave lots of room
for advertisements, but also lots of
room for competition between these
advertisements and even between the
advertisements and the shows they interrupt.
However, the success of an entertainment
marketing campaign cannot be
easily measured by fixed standards. Each campaign
differs according to the key objectives
driving the sales and revenue, and its success
will have its unique standards.
Mohamed explains that brands track the
campaign’s impact on sales by analyzing changes
in sales volume, revenue, or market share
during and after the campaign period. This
can be achieved through sales data analysis.
“To measure the success of a marketing
campaign, we always recommend
brands assess the return of investment of
their co-marketing initiatives by comparing
the costs incurred with the outcomes
achieved. This includes evaluating the financial
impact, such as incremental sales or
revenue generated, and comparing it to the
marketing campaign cost,” Mohamed adds.
He also notes that some brands sponsor live
events and festivals that pay huge amounts of
money to gain visibility through branding opportunities,
on-site activations and promotional
campaigns, but they end up losing a lot of
money if the festival fails for any reason.
“These events often rely on advertising sponsorship
to ensure their success,” Mohamed
clarifies.
Further, brands associate themselves with
popular events to enhance their image and engage
with the audience in a live and experiential
setting.
Entertainment marketing has given companies
options greater than ever before, which
gives them the freedom to be creative and to
cater to specific consumer they want. Despite
the pressure on product and service providers
due to the competition in entertainment marketing,
companies still choose entertainment
as the best medium to reach the consumer they
need.
www.businesstodayegypt.com
November 2023
57
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European Parliamentary Forum Unveils MENA Contraception Policy Atlas at the
Global Congress on Population, Health, and Development
The European Parliamentary Forum for Sexual and Reproductive
Rights (EPF) showcased the inaugural Middle East & North
Africa Contraception Policy Atlas at the Global Congress on Population,
Health and Development (PHDC’23) in Cairo. Findings from
this unparalleled advocacy and policy tool, which provides essential
information on the status of contraception in the region, were
unveiled by Neil Datta, EPF’s Executive Director, during the panel
session “Reproductive Health for All”.
The MENA Contraception Policy Atlas offers a comprehensive
analysis of 21 countries on aspects such as political leadership,
access to contraceptives, national and international policies, and
funding. The Atlas reveals that while most countries have taken
concrete steps at the policy level to ensure access to reproductive
health for everyone, more needs to be done to further strengthen
the mechanisms in place. This launch holds particular significance
as, per the United Nations Population Fund (UNFPA), 60.5% of
married Arab women aspire to avoid short-term pregnancies, yet
40% of them do not use safe and effective family planning methods.
Key MENA Highlights
•52% of countries have initiated policy measures to guarantee
universal access to contraception. However, barriers, including
misinformation and financial constraints, persist.
•14% provide governmental websites on contraception.
•62% have made pledges to family planning through global organizations
and networks.
•A mere 6 out of 21 countries recognise the right to determine
family size, timing, and spacing of children.
Egypt scores “good” and is positioned in the light green category
with 53.1%. It has an official political plan related to contraception,
awareness campaigns at a national level and public funds allocated
to contraceptive procurement.
Dr. Abla El Alfy, the founder and chairman of the Egyptian
Members Association of RCPCH (Royal College of Paediatrics and
Child Health), remarked, “The Atlas is not just a collection of data;
it’s a call to action. It underscores the pressing need for nations
to prioritize reproductive health rights. We must bridge the gap
between policy and practice to ensure that women everywhere are
empowered to make the right choices for their reproductive health,
ensuring a brighter and healthier future for all.”
“The Egyptian government is steadfastly committed to enhancing
the well-being of women and girls nationwide. Through the
recent initiation of the ‘Thousand Golden Days for Developing the
Egyptian Family’ program, we anticipate witnessing Egypt ascend
to a ‘very good’ ranking in the forthcoming edition of the Atlas,
reflecting the tangible progress and positive transformations underway
in the realm of reproductive health and rights,” added Neil
Datta, European Parliamentary Forum for Sexual and Reproductive
Rights Executive Director.
The Broader Impact
Lack of access to family planning and contraception methods is
a significant barrier to achieving gender equality, as outlined in the
UN Sustainable Development Goals. It not only affects women’s
health but also hinders their socio-economic empowerment. When
women can’t control their reproductive rights, they often face challenges
in pursuing education, entering the workforce, and contributing
to the economy. This lack of access also has ripple effects on
economic productivity, as nations miss out on the potential contributions
of half their population.
The Atlas is designed to influence healthcare policies by actively
engaging stakeholders, including policymakers, civil society,
media, and the public. It underscores the tangible impact of policies,
urging nations to enhance SRHR services for the betterment
of their citizens.
The global launch of the Contraception Policy Atlas 2023 took
place at the Women Deliver Conference in Kigali, Rwanda, on 18
July 2023. More regional and national launches are planned to further
disseminate Atlas’s essential insights. The interactive website
can be found here: https://www.srhrpolicyhub.org/
* This initiative is powered by the European Parliamentary
Forum for Sexual and Reproductive Rights (EPF) in partnership
with the Arab Institute for Women (AiW), who vetted the data.
The Atlas was produced in partnership with a group of experts in
sexual and reproductive health and rights (see Atlas front page)
who helped design the questions and structures. EPF benefitted
from the financial support of Organon to undertake original and
independent research which is presented in the Atlas. The scope
and the content of the Atlas is the sole responsibility of EPF. Data
was collected at the beginning of 2022 and validated by the AiW. In
May 2023, a consultative process among key stakeholders ensured
the inclusion of national views from the partners and contributed
towards the improvement and ownership of outcomes.
58 November 2023
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Alameda Healthcare Group and Siemens
Healthineers Forge Transformative 7-Year
Partnership to Elevate Egyptian Healthcare
Alameda Healthcare Group, Egypt’s leading private healthcare service
provider, and Siemens Healthineers, the global medical technology
leader, have signed a groundbreaking seven-year strategic partnership
agreement. As part of this landmark collaboration, the companies have
agreed to a technology roadmap that will see Siemens Healthineers
install, replace, and maintain its state-of-the-art medical technology systems
and equipment across Alameda’s medical facilities ensuring that
patients receive world-class care and access to the latest advancements
in medical technology. This partnership builds upon the foundational
Memorandum of Understanding (MoU) inked at Siemens Healthineers’
headquarters in October 2021, and marks a significant milestone in the
companies’ shared commitment to delivering superior medical outcomes
and patient experiences.
Under the agreement, the companies will also leverage Teamplay,
Siemens Healthineers’ data-driven platform, to enhance clinical effectiveness
and optimize asset performance. In parallel, a joint training program
will be rolled out to provide Alameda’s medical professionals with
the latest knowledge and skills in the field of medical technology. Meanwhile,
Alameda’s As-Salam International Hospital in Maadi will serve as
the established reference site for Siemens Healthineers in Africa. It will
showcase cutting-edge technology and educational excellence, setting
the standard for healthcare quality and delivery across Egypt and the
wider African continent.
“As a leading healthcare provider in the country our mission is to ensure
that patients in Egypt have access to top-tier healthcare and to the
latest solutions and technologies that the industry has to offer. Through
this landmark partnership, we will not only enhance the quality of care
we deliver, but also boost efficiencies and overall patient satisfaction,”
stated Dr. Fahad Khater, Chairman of Alameda Healthcare Group. “This
agreement sees us further cement our leading position in Egypt’s
healthcare landscape, and further reinforces our commitment to being a
driver of innovation and advancement in the local industry.”
“We are thrilled to continue our strategic partnership with Alameda
Healthcare Group,” said Amro Kandil, Managing Director Siemens
Healthineers, Egypt. “By combining our technological expertise and
Alameda’s visionary approach, we aim to transform the healthcare landscape
in Egypt and create a model for healthcare excellence that extends
beyond borders.”
“Alameda Healthcare Group is a beacon of innovation in health-lifestyle
integration in Egypt. With our experience in executing complex and
large-scale innovative projects worldwide coupled with our state-of-theart
technology and blended education programs, we will work towards
optimizing, expanding, and advancing healthcare delivery in the short,
medium, and long term. With this partnership we are committed to
making a profound and lasting impact on patients’ lives,” Kandil added.
The Magdi Yacoub Heart Foundation
Receives Donation from Centro for
Complimentary Call Center Services
The Magdi Yacoub Heart Foundation announced a
partnership with Centro, a global company, to provide
free call center services for the foundation for a period
of one year. The collaboration aims to facilitate access
to information and donation opportunities for individuals
in Egypt interested in supporting the construction of
the new Magdi Yacoub Global Heart Centre in October
Gardens. The Call Center services provide donors with
an outlet to obtain comprehensive information about
the foundation, inquire about donation methods, and
even arrange for door-to-door donation pick-up services
through dedicated representatives.
This partnership reflects the foundation’s commitment
to strengthening communication with those willing
to support the foundation and the patients receiving
treatment at the Aswan Heart Centre, addressing
donation-related inquiries, and encouraging citizens
to contribute. The goal is to get donations to expedite
the completion of the Magdi Yacoub Global Heart Centre
in West Cairo, expand the base of beneficiaries of
healthcare services, and enhance the training of medical
personnel, ultimately ensuring high-quality healthcare
for individuals, families, and the community.
“We are thrilled and grateful for Centro’s support
through the donation of the call center services. This
contribution significantly aids in achieving the foundation’s
fundraising goals for the completion of the new
heart centre in Cairo to increase the number of patients
benefiting from our services.” Said Zeina Tawakol, Executive
Director of the Magdi Yacoub Heart Foundation.
For his part, Hesham Farag, CEO of Centro, said, “We
are pleased to support the Magdi Yacoub Heart Foundation’s
call center as part of our social responsibility,
and we look forward to helping achieve the Foundation’s
noble goals of providing health care to children
in Egypt. The world needs more people who give back.
They are the ones who turn challenges into opportunities,
and they find strength through helping others. The
Magdi Yacoub Heart Foundation is a great example of
an organization that constantly does this.”
The Magdi Yacoub Heart Foundation has made significant
progress in the construction of the new heart
centre in October Gardens, spanning 35 acres and
housing 304 beds to serve 120,000 patients annually.
The centre will also perform 12,000 annual surgeries,
with 60% allocated for children, and provide practical
medical training to over 1,500 doctors and surgeons.
The new donations will aid the foundation in completing
the necessary preparations to begin offering services in
the near future.
www.BusinessTodayEgypt.com November 2023
59
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Palm Hills Developments awards Dorra Contracting the construction
works of three commercial buildings in Palmet New Cairo.
Palm Hills Developments (“PHD” or “the Company”)
announces that Dorra Contracting has been awarded the
construction works of a total of three buildings spanning an
area of c. 30,000 sqm in the company East Cairo’s flagship
commercial project Palmet in Palm Hills New Cairo.
Spanning a massive 100 acres, Palmet New Cairo is an
extraordinary mixed-use destination in New Cairo. Boasting
an array of offerings that will captivate and inspire, Palmet
New Cairo presents an unparalleled range of possibilities.
From the prestigious Admin Park and Headquarter Building
to the vibrant Retail Center, luxurious 5-Star Hotel, and
exquisite Serviced Apartments, Palmet New Cairo offers a
diverse selection of amenities.
Admin Park encompasses eight mixed-use commercial
buildings, creating an architectural marvel that spans a total
sellable built-up area (BUA) of 105,000 sqm. This expansive
environment fosters growth, innovation, and success for
businesses.
Commenting on this partnership, Yasseen Mansour, PHD’s
Chairman & Group CEO, said: “We are pleased to once again
be partnering with well-established, and proven track record
name like Dorra Contracting in our 500-feddan project
-Palm Hills New Cairo- which marks key milestone for PHD
in the east side. This collaboration is part of our strategy to
accelerate the pace of construction and development across
all our projects portfolio and highlight our commitment to
deliver mature communities to our clients”.
Mohamed Dorra, vice-chairman of Dorra Contracting,
commented stating “this agreement will open a new page
in our shared history with PHD and enable the company
to further strengthen its position as a leading real estate
developer, capitalizing on our long-standing relationship.
I am delighted with our partnership with PHD, whose
expertise and dedication have been instrumental in bringing
all its projects to life and we look forward to offering an
exceptional admin park to PHD’s clients”.
Palm Hills New Cairo, spanning 500 acres, is Palm Hills
Developments’ flagship project in East Cairo, developed in
partnership with the New Urban Communities Authority.
The project stands out with its unique universal design,
featuring residential units elevated at a high land altitude of
330m above sea level, providing breathtaking views of natural
landscapes. The project is developed by Chapman Taylor, a
globally recognized practice of award-winning architects,
master planners, and interior designers. Chapman Taylor
has received over 300 design awards worldwide and has
successfully delivered more than 3,000 major projects across
five continents and over 100 countries.
The project encompasses approximately 4,500 units of
various types, including residential apartments of different
sizes, townhouses, twin houses, and standalone villas.
Strategically located near multiple axes and key highways, it
is situated across the Middle Ring Road near 90th Street, a
mere 10-minute drive from the New Administrative Capital
and 15 minutes from the American University in Cairo (AUC).
Since its launch, the project has generated significant sales
in East Cairo.
60 November 2023
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GV Investments Partakes in the World Construction Championship III in St. Petersburg
Russia
GV Investments, one of the leading real estate developers, announces
its participation in the Third World Construction Championship,
which took place in the Russian city of St. Petersburg
under the patronage of the Russian President, Vladimir Putin, and
the Russian Ministries of Industry and Trade, and Construction,
Housing and Utilities.
This participation aligns with GV Investments’ vision, which aims
to achieve sustainable economic and social development, enhance
economic relations between Egypt and other countries, and reaffirm
the company’s commitment to industrial development and
attracting investments. Eng. Sherif Hamouda, Founder and Vice
Chairman of the Board of Directors at GV Investments participated
in an open dialogue session in the presence of the Deputy Governor
of St. Petersburg, heads of several Russian banks, the Deputy
Prime Minister of Russian Industry and Trade, and some heads of
companies specializing in modern industrial technology from Russia
and Asia.
Commenting on GV Investments’ participation in this championship,
Eng. Sherif Hamouda, Founder and Vice Chairman of the
Board of Directors at GV Investments, said, “We are pleased to
participate in this global championship, which included major
construction and building companies from around the world, especially
under the esteemed patronage of the Russian President
and various Russian ministries. It provided us with an important
opportunity to showcase the advantages of Tarboul Industrial
City, one of the largest and most comprehensive industrial
cities in Egypt and the region. At the same time, the championship
served as a pivotal interactive platform that featured
discussions and future insights regarding the construction and
building industry worldwide. This participation is part of a series
of successful engagements for our company at international
conferences and exhibitions, underscoring our unwavering
commitment to promoting international dialogue and achieving
Egypt’s sustainable development in line with Egypt Vision
2030.”
Tarboul City, the largest smart industrial city in Egypt, is strategically
located in the Giza Governorate on a vast 109 million
square meter expanse. Its strategic positioning near the primary
road network allows for easy access to and from various
governorates across the country, making it an appealing
investment destination. The goal of this city is to connect Upper
Egypt with the economic centers in the Delta region, and it is
anticipated to serve as a thriving hub for industry and investment.
Eng. Hamouda received an invitation to participate in an open
dialogue session titled “New Era Technologies: The Future of
Construction.” It is worth noting that this is not the first time
he has visited Russia. Eng. Hamouda previously signed a
memorandum of understanding with Russia’s industrial cluster
in Tatarstan with the goal of enhancing economic cooperation
between Egypt and the Republic of Tatarstan, a republic of
the Russian Federation, and several African countries, aiming
to establish new mechanisms for enhancing cooperation and
knowledge exchange in various fields in line with the country’s
directions. GV Investments was the only Egyptian participant
in the Russia-Africa Conference, which was held in Russia last
July.
A New Era of Real
Estate Excellence
and Expansion: RED-
CON for Offices and
Commercial Centres
Transforms into RED-
CON Properties
REDCON Group announced the rebranding of its real estate development company,
and changing its name to REDCON Properties instead of REDCON for Offices
and Commercial Centres. This change aims to expand the Company’s scope to
encompass all categories of real estate developments and strengthen its strategic
position as a pioneer in the development of sustainable communities within the real
estate sector.
“With this expansion, we are starting a new chapter in its growth in the real estate
development field,” said Eng. Tarek El-Gamal, Chairman of REDCON Properties.
“This comes after our significant success in creating administrative and commercial
centres, as we aspire to shape future communities with innovative sustainability at
heart, living up to the group’s history in the Egyptian market.”
Ahmed Abdullah, Vice Chairman of REDCON Properties, commented: “We aim to
contribute to the advancement of green building, aligning with the sustainable development
goals of Egypt’s 2030 Vision.”
REDCON Properties seeks to shape future communities and be a catalyst for
sustainable change in the real estate sector, by raising awareness of the benefits of
sustainability and implementing technological solutions in all aspects of its projects.
www.BusinessTodayEgypt.com November 2023
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“Defining Class since 1886” – Mercedes-Benz at IAA Mobility 2023
Since the invention of the automobile by Carl Benz 137 years
ago, Mercedes-Benz has consistently set the benchmark. From A-
Class to S-Class and beyond, the company’s uncompromising vision
continues to shape the development of the automobile like no
other vehicle manufacturer. At this year’s IAA Mobility, Mercedes-
Benz is underpinning this pioneering spirit. In addition to the Concept
CLA Class, other show cars and the latest range of electric
and electrified vehicles are on display. The “Defining Class since
1886” theme forms the backbone of a global marketing campaign
brand film, which has been launched at IAA Mobility in Munich and
then rolled out around the world.
The new Concept CLA Class
Mercedes-Benz Group AG CEO Ola Källenius unveiled the
forerunner to a whole new model family at the Mercedes-Benz
Pavilion on Apothekenhof at the Munich Residence in the centre
of the city. In the age of electric and digital innovation, this
concept CLA defines the company’s vision to elevate the vehicle
portfolio at the gateway to the brand. Based on the new
Mercedes-Benz Modular Architecture (MMA), it makes its mark
through long-range efficiency, pioneering innovation, a beautiful
and extraordinary aesthetic, sustainable materials and an
entirely new operating system, MB.OS. The Concept CLA Class
was revealed at a special Pre-Night event at the Mercedes-Benz
Pavilion, complete with an appearance by tennis legend Roger
Federer, a kinetic light show and a live music performance from
French pianist Sofiane Pamart.
World premiere – E-Class All-Terrain
Mercedes-Benz is proud to present the world premiere of the
E-Class All-Terrain – the latest member of the new E-Class family.
As the most versatile E-Class variant, the All-Terrain combines
stand-out looks with the impressive functionality of the Estate
and the wide-ranging innovations of the new E-Class generation.
The All-Terrain “all-rounder” ushers in a range of modifications
over the standard model: more ground clearance, larger wheels,
switchable off-road modes, plus 4MATIC all-wheel drive, the E-
Class All-Terrain is engineered to make light work of dirt roads
and gravel tracks.
Striking, efficient and intelligent – quartet of new
EVs revealed
Alongside the new Concept CLA Class and the E-Class All-Terrain
are three all-electric models making their IAA Mobility debuts
– the EQA, EQB and EQV people carrier. Each new model benefits
from a host of upgrades that align with the brand’s luxury strategy:
More distinctive design details, technology updates including the
latest generation of MBUX, additional comfort and functionality,
and more intelligent driver-assistance systems designed to make
everyday life easier and less stressful.
Mercedes-AMG GT Concept E PERFORMANCE
– electrifying the Mercedes-Benz performance
brand
At this year’s IAA Mobility, Mercedes-AMG revealed the Mercedes-AMG
GT Concept E PERFORMANCE. Using technology
transfer from the Mercedes-AMG PETRONAS F1 Team, the hybrid
system combines the qualities of a powerful V8 petrol engine with
those of an Electric Drive Unit on the rear axle, delivering more
than 800 hp.
62 November 2023
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Nurturing Hope and Health: The Egyptian
Food Bank launches Orphan Feeding
Program across Egypt
The Egyptian Food Bank has launched Orphan Feeding Program
with the primary objectives of feeding the highest possible number
of orphaned individuals, enhancing their quality of life, protecting
them from malnutrition, and promoting awareness of the critical role
of nutrition in orphanages.
The program caters to orphans aged from one day to 18 years,
with a total of 3,388 orphans, including 1,074 cancer patients and
children with disabilities Egyptian Food Bank is dedicated to serving
126,000 meals monthly to address the nutritional needs of
these children in various orphanages contributing to their growth,
development, and enhancement of their mental and physical abilities.
This helps improve their quality of life and prepares them for better
opportunities in the future.
“Our comprehensive strategy incorporates the protection pillar,
which includes Orphan Feeding Program. Our aim is to protect the
most vulnerable segments of society from food insecurity by delivering
a consistent supply of nutritious components to meet their
monthly needs,” stated Mohsen Sarhan, CEO of Egyptian Food Bank.
“The Orphan Feeding Program is singularly focused on protecting
orphans from malnutrition, broadening the scope of nutritional initiatives,
and ensuring that these orphans receive nourishing food components
to foster their physical well-being and cognitive development.
This endeavour equips them for a brighter future, enhancing
their employability prospects by enriching their cognitive abilities and
providing essential nutrients vital for their entire growth.”
In pursuit of its diversified approach to support a range of beneficiaries,
Egyptian Food Bank initiated its advocacy for orphan welfare
in Egypt back in 2006. This strategic shift encompassed the inclusion
of orphanages within the eligible recipients of the monthly food program,
administered under the umbrella of our protection pillar. The
Food Bank’s commitment extends to safeguarding the well-being of
children through various avenues, including school nutrition and infant
nutrition for mothers with a particular emphasis on orphanages
to mitigate the risk of malnutrition.
To fulfil this mission, Egyptian Food Bank extends monthly food
assistance to registered orphanages, which are affiliated with us and
dispersed across 14 governorates throughout the country. These
governorates include Cairo, Giza, Qalyubia, Asyut, Alexandria, Luxor,
Beheira, Dakahlia, Sharqia, Fayoum, Menoufia, Minya, Beni Suef, and
Kafr El-Sheikh. The provision of meals to orphaned children incurs
a cost of EGP25 per meal, and we offer several support options to
our valued donors, including the ability to sustain an orphan’s nutrition
for one month at EGP750, for six months at EGP4,500, or for an
entire year at EGP9,000.
King’s School the Crown Adopts
Globally-renowned Early Learning
Platform, Arc Pathway
King’s School the Crown, a prestigious school situated
in the heart of Palm Hills Developments’ 6th October,
announced its adoption of globally-renowned, Arc
Pathway as the primary platform for its Early Learning
School, becoming the first school to use it in Egypt.
This forward-thinking move underscores King’s School
the Crown’s commitment to providing parents with a
comprehensive and user-friendly tool, which will allow
them to stay closely connected with their child’s development.
Arc Pathway was carefully chosen due to its exceptional
capabilities that align perfectly with King’s School
the Crown’s mission to offer the highest quality education
and communication experience to parents and students
alike. It also highlights the school’s dedication to
staying at the forefront of educational technology and
ensuring parents are actively engaged in their child’s
learning journey.
Commenting on the adoption of Arc Pathway, Mr.
Joel Worrall, Executive Head of King’s School the
Crown, stated, “We are proud to partner with Arc Pathway
to enhance the educational experience for our students
and their families. This platform aligns perfectly
with our commitment to innovation, transparency, and
meaningful parent engagement. With Arc Pathway,
we are not only streamlining communication but also
creating a more enriching and personalized learning
experience for our youngest learners.”
Arc Pathway revolutionises communication by
seamlessly connecting parents with their child’s progress
through its mobile application, fostering unprecedented
accessibility between educators and families.
Additionally, Arc Pathway distinguishes itself with its
comprehensive array of features, consolidating vital
components like observations, baselines, personalised
goals, assessments, a care diary, and messaging capabilities
into a user-friendly interface. This empowering
platform actively involves parents in their child’s educational
journey, enabling them to share their insights,
labelled as ‘Special Moments,’ maximising the collaborative
and holistic learning experience.
www.BusinessTodayEgypt.com November 2023
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Tarek Al-Gamal: B20 Summit
highlighted the Importance of
building resilient Global Value
Chains
Eng. Tarek ElGamal, Chairman of REDCON Group, emphasized
the importance of the discussions organized as part of
the Business Leaders’ Summit “B20,” especially the recommendations
put forth by the attending policymakers, economic
experts, and business leaders from around the world.
This comes following ElGamal’s participation in the B20
Summit in New Delhi, India, representing the African Business
Leaders Coalition “ABLC”, which is affiliated with the United Nations
Global Compact initiative.
ElGamal commented that the B20 Summit’s activities represent
a pivotal step in deepening private sector engagement
in sustainable development, with over 1,500 business leaders
and 172 policymakers participating under the supervision of 10
world leaders, contributing to accelerating sustainable development
across various sectors within the framework of the G20
most significant supporting events, to which Egypt was invited.
“The future of the global economic growth will depend on
Africa and India, as projections indicate that Africa’s population
is expected to double by 2050, currently standing at 1.3 billion
people,” said ElGamal. “That’s why we have to focus on accelerating
African economic integration, by supporting continental
trade, investing in human capital to foster innovation, and enhancing
sustainable development across all sectors.”
ElGamal also highlighted the importance of international efforts
to build sustainable partnerships with Africa, aiming to support
global value chain diversification as one of the proposed solutions
to avoid the current global economic crises faced by all countries.
ElGamal drew attention to the recommendations presented
by the B20 to the G20 Summit leaders, which should be implemented
to accelerate global economic recovery and achieve
sustainable development. These recommendations include the
establishment of a Global Sustainable Development Acceleration
Fund (GSAF) aimed at financing recovery efforts, enabling
African countries to achieve the goals of comprehensive agricultural
development in the continenet, and respond to the impacts
of climate change. Additionally, increasing private sector
participation to achieve global financial inclusion, applying the
principles of circular economy, along with funding sustainable
and resilient infrastructures, with a focus on healthcare,
energy, and digital infrastructures. This also involves setting a
global standard for green data centers.
On the sidelines of the summit, ElGamal met with a group
of representatives from Egyptian and international organizing
bodies and associations, which included talks with Eng. Tarek
Tawfik, Vice Chairman of the Federation of Egyptian Industries
(FEI), member of the Board of Directors of the FEI Food Industries
Chamber at the Federation of Industries, and the President
of the American Chamber of Commerce in Cairo.
ElGamal also met with Mr. Natarajan Chandrasekaran, President
of the B20 Summit and CEO of Tata Sons, and Mr. Bernard
Looney, CEO of British Petroleum (BP), and Mr. Mark Carney,
the UN Special Envoy on Climate Action and Finance, and the
President of Brookfield Asset Management.
This edition of the B20 Business Summit was held under the
theme “R.A.I.S.E,” which stands for “Responsible, Accelerated,
Innovative, Sustainable, and Equitable Business.”
64 November 2023
www.BusinessTodayEgypt.com
bt scene
“Sky Abu Dhabi Developments” Pavilion Shines Bright with Astounding Turnout
at Cityscape 2023
SKY AD. Developments, the leading real estate subsidiary of
the Emirati Diamond Group in Egypt recorded high sales during
the 12th edition of the CityScape exhibition that took place from
20 to 23 September. SKY AD. soared to new heights during the
four-day exhibition, boasting an impressive sales record of 80
units and an astounding total value of EGP 600 million.
At “Cityscape 2023” SKY AD. witnessed a large turnout of the
exhibition’s visitors, excited to learn about the available units
open for reservation at its projects: Capital Avenue, One Residence,
and Bluetree. The company provided competitive offers
for unit installment plans that match the current purchasing
power of citizens and guarantee Investment return for real estate
projects compared to different real-estate destinations.
Taking the Cityscape experience to a whole new level, SKY AD.
launched its latest project “One Residence,” the latest phase of its
Capital Avenue project located at the New Administrative Capital,
to capitalize on its vision and endeavors to present projects
that satisfy customers’ aspirations. The new phase includes 50
distinctive residential units with various sizes ranging from 70 to
130 square meters, complete with high-quality finishes designed
by Eklego Design, one of the leading design houses in Egypt.
One Residence offers unparalleled advantages compared to
other residential projects in the New Administrative Capital. It
boasts a prime geographical location at the heart of the New
Capital, close to major services, green spaces, and a variety of
unit sizes to cater to a wide range of customers, from students
studying at the New Capital’s universities to executives in major
banks and companies that have recently moved to the capital. The
Company plans to deliver these units with luxurious finishes to facilitate
immediate occupancy; in addition to providing remarkable
concierge services, with units scheduled for delivery in 2027.
This complements the success of Capital Avenue, one of the
largest commercial projects in the R8 area of the New Administrative
Capital, which won the prestigious African Property
Award for 2022. Capital Avenue spans an area exceeding 21,000
m2 in space, where it will embody the essence of premium living
in one of the quietest and most competitive locations in the New
Administrative Capital, overlooking the diplomatic area from the
east, and the Green River from the south near the city center.
The state-of-the-art design of the project provides mixed-use
buildings suitable for F&B, clinics, retail, and administrative offices
to meet the clients’ needs. In addition, the project has water
features, a central promenade, and an outdoor café area, to provide
an exceptional shopping and entertainment experience to the
New Capital residents and visitors. The first units are set to be
delivered in the third quarter of 2025.
In the 2023 CityScape version, SKY AD. was keen on introducing
a special offer on the Bluetree project, which was recently
awarded the prestigious African Property Awards, as the best
residential project for 2023 under the category of Residential
Development 20 Plus Units, SKY AD. Developments are offering
Cityscape visitors a remarkable payment program for those interested
in acquiring units in the project. Furthermore, Bluetree has
achieved remarkable success exceeding EGP2bn in sales within 6
months since its launching earlier this year, making it one of the
most successful projects in East Cairo in terms of sales.
Bluetree’s success is attributed to the trust customers place
in SKY AD. Developments’ commitment to delivering the best.
The project is located in a vast 50-acre area in the prime location
of Golden Square in New Cairo and offers a comfortable avantgarde
living experience where all its buildings are constructed on
a ground-floor and four floors, with various units occupying just
19% of the total area, ensuring a healthy environment and adhering
to environmental standards to conserve the climate and natural
resources. The project includes 1,300 diverse units, both residential
and commercial, and units are set to be delivered in 2027.
Bluetree provides a luxurious yet cozy living experience, varying
between luxury and duplex apartments varying between 115
to 300 square meters, with distinctive commercial and administrative
spaces that meet all customer needs. Moreover, the project
includes a clubhouse, central garden, kids’ area, and cycling
tracks for practicing various sports, entertainment, social, and
artistic activities besides a wide range of smart services.
This comes as solid proof of SKY AD.’s success in creating
an unparalleled portfolio of real estate projects in record times;
while selecting the best available locations with easy access to
nearby roads, axes, and essential services; and maintaining the
best project designs that meet customer needs and add values
to the Egyptian real estate market. This also reflects SKY AD.’s
a successful management vision in participating in major local
and foreign real estate exhibitions to reach the largest segment
of customers.
www.BusinessTodayEgypt.com November 2023
65
Last Word
“Launching the Major Development Operation in
North Sinai with Investments Exceeding EGP 400
billion.”
— The Prime Minister, Mostafa Madbouly.
66 November 2023
www.BusinessTodayEgypt.com
A Legacy of Success
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