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







Editor’s Note



entertainment and its contributions to

Egypt’s cultural and economic landscape.

By Hanan Mohamed


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,





In Brief

A World of Entertainment Insights into

Egypt’s industry.

By Hanan Mohamed


Tourism Bounces Back

As the tourism sectors begins to recover,

Egypt is tapping into new industry

revenue streams.

By Nouran Allam


Egypt’s Sports Horizon: Economic

Impact and Growth

A look at the role of sports in




4 November 2023


In This Issue



and how it contributes to Egypt’s tourism

and economy.

By Nouran Allam



Digital Streaming Platforms:

A New Revolution

How digital streaming platforms have

changed the entertainment industry and

content consumption in Egypt.

By Nouran Allam







Positioning Egypt as a Fashion Hub

The ongoing rise of the fashion

industry contributes greatly to Egypt’s

entertainment industry.

By Nour El-Badawy


The Evolution of Advertising Industry

How do advertisements contribute to

entertainment economy?

By Jehad El-Sayed


Last Word


EGYPT 2023. All rights reserved. No

part of this magazine may be reproduced

without the written consent

of the publisher. Printed in Egypt at

Ahram Printing House. Business Today

Egypt, founded in 1995, is published

monthly by International Business Associates

Group, Cayman Islands. US

Office: Business Today Egypt, P.O. Box

2191, Austin, TX 78768. Representative

Office: 6 Wezaret el Zeraa, Mohandiseen.

Tel: +2 (02) 2755-5000. Manuscripts,

reports and other material submitted

must be accompanied by a stamped,

self-addressed envelope. However, Business

Today Egypt cannot be responsible

for unsolicited material. Advertising

camera-ready copy deadlines are the

10th of the month preceding publication;

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every month. SUBSCRIPTIONS: Rates

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in the US: Please send address

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Today Egypt, P.O. Box 2191, Austin,

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also available from the same department

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design by



www.BusinessTodayEgypt.com November 2023


Editor’s Note

A World of


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.

Founder William Harrison


Executive Editor-in-Chief

Mohamed Abdel Baky

Managing Editor

Noha Mohammed

Deputy Editor

Hanan Mohamed

Copy Editors

Hanan Fayed

Riham El-Shaer

Staff Writers

Nourhan Magdi

Noha El Tawil

Christine Salzmann

Jehad El-Sayed

Nouran Allam

Aya Aglan

Nour El Badawi

Art Director

Heba Mekky

Creative Designer

Nada Ezzat


Yara Tarek Tabl

Business Development Director

Sherif Anis

Senior Sales Manager

Sayed Abo El Magd

For advertising inquiries

please contact




Business Today Egypt, founded in 1995, is

published monthly by International

Business Associates Group,

Cayman Islands.

US Office: Business Today, P.O. Box 2191,

Austin, TX 78768. Tel: + 1 (512) 743-6279.

Camera-ready advertising copy

deadlines are the 10th of the month

preceding publication; reservations,

cancellations and changes must be

made by the 20th of every month.

Editorial, Sales & Subscription Offices

6 Wezaret El-Zeraa, Mohandiseen,

Arab Republic of Egypt.

Tel: (02) 2773331 / 27704596 / 25772545




CTP & printing: Al Ahram Commercial Press



November 2023


A Legacy of Success

Over 28 Years of

Publishing Excellence

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


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


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


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.


November 2023


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


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


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



November 2023


A World of


Insights into Egypt’s


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


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


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


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


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






Photography by Kareem Abdel Aziz

14 November 2023


As the tourism sectors

begins to recover, Egypt is

tapping into new industry

revenue streams.

www.businesstodayegypt.com November 2023



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


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


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



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



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


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



Identifying Challenges

While Egypt possesses impressive tourist destinations

and great potential for growth, the industry

still faces several challenges that impact its


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


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


www.businesstodayegypt.com November 2023


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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


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.






Impact and


22 November 2023



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


November 2023



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


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


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


November 2023



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 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.


November 2023



Inside Egypt’s



A look at the promising sector which is poised for transformative

growth and regional dominance.

28 November 2023


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.


November 2023



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


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


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


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


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


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.


November 2023



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,


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


Amin also suggests

engaging the country’s

workforce through government-owned


considering the substantial

number of professionals collaborat-

32 November 2023 www.businesstodayegypt.com


ing with external companies. He believes that

this strategic approach could further propel

the industry’s growth trajectory and economic


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



November 2023



Egypt is the


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


www.businesstodayegypt.com September 2023



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 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


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-


November 2023


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


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


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


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.”


November 2023



40 September 2023





A New


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


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.


September 2023



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


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


According to Gad, “WATCH IT has been a cata-

42 November 2023 www.businesstodayegypt.com


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.


November 2023



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


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


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.



have even

become a


source of



for countries.”


November 2023




Egypt as



The ongoing rise of the fashion

industry contributes greatly to

Egypt’s entertainment industry.

46 November 2023


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


November 2023


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


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


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


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-


November 2023


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


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


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.




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


“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.


November 2023


Advertising Industry


The Evolution


How do advertisements contribute to entertainment economy?

54 www.businesstodayegypt.com

November 2023


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


“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.


November 2023



“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


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


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


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


Further, brands associate themselves with

popular events to enhance their image and engage

with the audience in a live and experiential


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



November 2023


BT Scene

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


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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


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


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


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


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.


– electrifying the Mercedes-Benz performance


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


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


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“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


Last Word

“Launching the Major Development Operation in

North Sinai with Investments Exceeding EGP 400


— The Prime Minister, Mostafa Madbouly.

66 November 2023


A Legacy of Success





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Sherif Anis


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