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Advertorial COMBATING NON-COMMUNICABLE DISEASES TO REDUCE COVID-19 DEATHS Viatris Signs Memorandum of Understanding with The Defeat NCD Partnership at the United Nations Institute for Training and Research (UNITAR)

Viatris Inc. and The Defeat-NCD Partnership Other insights from the report (DNCD) at the United Nations Institute for Training and Research (UNITAR) signed a memorandum include: of understanding (MoU) to continue cooperating via joint programs and initiatives to identify the • Governments are diverting resources from NCD impacts of non-communicable diseases (NCD) on care to COVID-19 mitigation, despite 60% to 90% COVID-19 patients. The cooperation will enhance of COVID-19 patients with NCD dying. care policies for prevention and treatment, mainly • COVID-19 exacerbated the progression of pre- in low- and middle-income countries, to meet UN existing NCDs in survivors. It also caused NCD Sustainable Development goals (SDG 3.4). The infections in COVID-19 patients that didn't suffer aim is to reduce NCD mortality by a third by 2030. from other diseases. "Collaboration with reputed private sector • Analysis of the increased burden on over- healthcare companies forms an integral part of the stretched health systems in low- and middle- solution to address the challenges faced by NCD income countries found that there is an increase of patients, especially in low resource settings. We 10.4% in COVID-19 deaths per 1,000 people for welcome Viatris joining the Partnership's efforts every additional NCD death. and supporting our mission globally," said Mukul • Shortages of medicine, diagnostics, and tech- Bhola, Chief Executive Officer of The Defeat-NCD nologies are among the most common reasons for Partnership at UNITAR. delayed, reduced, or canceled NCD treatments That collaboration was discussed at a panel dis- during this pandemic. cussion that DNCD organized, called "Uninterrupted Health Services for NCDs during Menassie said: "The Memorandum of the COVID-19 Crisis." It was held on the sidelines Understanding agreement with UNITAR for The of the 74th World Health Assembly, calling on gov- Defeat-NCD Partnership is an agreement that ernments to ensure uninterrupted NCD care dur- ensures our commitment to achieving the UN's ing challenging times where political commitment SDGs of reducing NCD mortality by a third by is even more needed. 2030. That enables all low-resource countries to The latest research report The Economist scale up their action against NCDs." Intelligence Unit (EIU) and DNCD co-authored focuses on the implications of NCD care policies on COVID-19 disease management. It collated global data to prove a positive correlation between NCD mortality rates and COVID-19 case fatalities. That was a study that Viatris was proud to support while giving authors the autonomy they required. Menassie Taddese, President of Emerging Markets at Viatris, attended the event where she shed light on the research and what it means for Viatris. "With 85% of NCD deaths taking place in the 125 emerging markets, our scientists, medical professionals, and regulatory experts are working hard to ensure vulnerable communities have access to vital healthcare," said Taddese. AmCham Career Development Center

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Editor’s Note In Person 12 In Depth Emerging 14 Viewpoint Trends 22 If content is king, 18 Targeting

promotion is queen 'targeted ads' 28 Homemade ﬁx Cover Design: Local experts talk about Can Egypt’s soon-to-be- for supply chain Nessim N. Hanna branding Egypt as a tourist implmented Data debacle Privacy Law stop your destination. data from being sold?. Can Egypt-based Brimore’s innovative model solve local logistics problems?

16 In Brief A special round up of the In Focus latest local news.. 36 Digital vaccine passports: a quantum leap for health technologies

At a Glance 38 Decoding the economics of COVID-19

Market Watch 40 Back to square one The Chamber 46 Events 52 Member News American Impact Highlife 34 Big government: Media Lite The return 42 Day at the museum The U.S. government bets Visiting the National 56 An irreverent it can spend its way out of Museum of Egyptian glance at the press the pandemic. Civilization

10 ! " # $ %#& " ' " Editor’s Note

Director of Publications & Research Khaled F. Sewelam INNOVATE OUT Acting Managing Editor Tamer Hafez

OF A PANDEMIC Contributing Editor Kate Durham

Since March 2020, almost everyone has been wondering when the pandemic Consulting Editor will end. And, more importantly, what would it take for it to end. Nearly 14 Bertil G. Peterson months later, most are looking ahead, despite the long shadow cast by COVID-19. Senior Writer Ola Noureldin Environmentalists and experts are warning of the next crisis: climate change. Or at least the pandemics and crises that could happen because Writers of rising temperatures and pollution. They talk of expediting innovative Adam Skaria eco-solutions and more aggressive government policies. Nada Naguib

Meanwhile, those capitalizing on opportunities during the lockdowns Creative Manager will likely continue to innovate, changing the meaning of the "new nor- Nessim N. Hanna mal." That should have a domino effect on other sectors, which will ﬁnd new ways to do business, and individuals who will demand new services Senior Graphic Designer Emy Emile based on those innovative solutions. Other drivers for innovation include governments distributing "free Graphic Designer money" to people and leading the way for investments in new technolo- Verina Maher gies to recover from recessions that in some places reached double digit Advertising & Business Development Director percentage drops during 2020. Check out our American Impact section to Amany Kassem learn what the United States is doing to boost spending. Egypt is on a fast track when it comes to digital solutions for incumbent Business Development Coordinators problems of small-scale businesses. See Emerging Trends for details about Farah Abdelkader, Farah Diab Mona Hassan, Menna Mohie ElDin one company that is streamlining and stabilizing logistics for SMEs. The Sarah El Ayoubi, Ali Youssef government also is working to rein in the dark side of such a fast-paced shift: See our In Depth section for more about Egypt's new data privacy law Photographers that the government will fully implement next year. Karim el Sharnouby Said Abdelmessih Aside from technology innovations, new thinking is evident in this month's In Person section, where marketers consider lessons from Egypt's Production Supervisor Golden Parade event in preparation for the opening of the Grand Egyptian Hany Elias

Museum. Speaking of new attractions, our High Life section takes us on a Market Watch Analyst tour of the National Museum of Egyptian Civilization, the new resting place Amr Hussein Elalfy of the royal mummies. The challenges arising from all this innovation are complex. The first is Chamber News Contacts whether those high-flying ideas will stick with consumers or become fads. Nada Abdalla, Azza Sherif, Susanne Winkler While innovation brings solutions, it also creates unexpected risks for the government, companies and individuals. Finally, obtaining financing will be more challenging as innovators and entrepreneurs continue to churn out new ideas. U.S. address: 2101 L Street, NW Suite 800 • Washington, D.C. 20037 Please forward your comments or suggestions to the Egypt editorial office: Business Monthly American Chamber of Commerce in Egypt 33 Soliman Abaza Street, Dokki 12311 • Cairo • Egypt TAMER HAFEZ Tel: (20-2) 3338-1050 • Fax: (20-2) 3338-0850 E-mail: [email protected] Acting Managing Editor www.amcham.org.eg/bmonthly

@BusinessMonthly Eg @BusinessMonthly @BusinessMonthly

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A NEW START

Iam honored to receive the conﬁdence of AmCham members for a second term, which I accept as a challenge, a responsibility and a commitment. Trust me, it’s not a joy ride. I sincerely hope that I will be able to meet your expectations, which I surely can with our members’ support and our brilliant executive team.

These are challenging times for the world and notably for Egypt. We had barely started to stabilize our economy after tough reforms, and then we were hit with COVID-19. As we move forward and past the pandemic, we see the importance and urgency of implementing the government’s second reform program, emphasizing the role of the private sector in leading the economy—a role that has been severely compromised since 2011. We are banking on this message and the required momentum to accelerate the pace of reform.

We as the private sector are ready and waiting in anticipation for the government to cut through the red tape and clear out the clutter of bureaucracy, so that we can assume our role in helping the economy reach its full potential. This is a task that can only be done hand in hand with the state of Egypt.

As AmCham’s newly elected Board, our mandate for the new term is to cooperate closely with the decision makers to push forward with the reforms needed to restore Egypt as the economic power of the region.

TAREK TAWFIK President, AmCham Egypt

EGYPT RANKS TOP IN MENA REGION IN AT KEARNEY'S GLOBAL SERVICES LOCATION 2021 INDEX Egypt retained its position as the most attractive outsourcing and THE offshore operations in the MENA region, ranking 15th in global management consultancy AT Kearney's Global Services Location Index (GSCI) 2021. Egypt was the only MENA country to make it to the top 20 of the index. The UAE ranked 25th and Turkey 26th, according to the report. Overall, Egypt fell one place from 14th a year earlier. The index, which looks at the viability of 60 countries as outsourcing destinations, NEWSROOManalyzed 47 metrics across four main categories. The relative weights of each metric are based on their importance derived from client experiences and industry surveys. The four categories are financial attractiveness (35%), people skills and availability (25%), business environment (25%), and digital resonance (15%). The global index noted that Egypt is a unique location due to its financial attractiveness, offering competitive compensation and low infrastructure costs. The report also highlighted the government's progress in developing the ICT sector. The index put Egypt before some European service locations like Germany, Portugal, and Bulgaria. Ranked higher are Poland (14th), Colombia (13th), and Estonia (12th). The index indicated that India, China, and Malaysia continue to rank in the top three globally. Egypt's advantages over the three countries ahead of it in the ranking include having a financially attractive multilingual talent pool and enabling service providers to serve EMEA from a single offshoring destination. The 2021 GSLI panel selected 60 countries based on corporate input, current remote services activity, and government initiatives to promote the sector. The metrics used to evaluate participants were determined from responses to AT Kearney surveys, other industry questionnaires, and knowledge obtained in client engagements over the past five years.

EGYPT’S PERFORMANCE IN 2021 INDEX

Financial People Skills Business Digital Resonance Attractiveness Environment

Egypt (2.75) Egypt (1.05) Egypt (1.15) Egypt(0.67) India (2.83) Indonesia (1.26) Philippines (1.15) Mexico (0.67) Philippines (2.82) Philippines (1.32) India (1.17) Philippines (0.67) Indonesia (2.78) Turkey (1.41) Kenya (1.29) Vietnam (0.68) India (2.18) Brazil (0.68)

EGYPT TO INVEST $4.7 BILLION IN AGRICULTURE IN FY 2021/22

Egypt targets total investments of around EGP 73.8 She added that the project aims to save billion ($4.7 billion) in the agricultural sector in the about 5 billion cubic meters of water, com- next ﬁscal year. It also aims to increase agricultural pleted by the end of the fiscal year (FY) exports by 20%, according to Planning Minister 2023/2024. Hala Al-Said. Al-Said aims to create about 950,000 job op- She said the national development project portunities across all sectors in FY 2021/2022. to renovate the country's canals is one of the That will increase those employed to 27.9 million most critical programs, costing an estimated while maintaining the number of unemployed EGP 68.18 billion ($4.3 billion). at 2.2 million.

$127 MILLION ALLOCATED TO REVAMP HISTORIC CAIRO

Prime Minister Mostafa Mad- area, south of Bab Zuweila, Haret Wealth Fund (SWF) bouly initially allocated nearly El-Roum, Al-Hussain Mosque agreed with the Supreme EGP 2 billion ($127.4 million) to area, and Darb El-Labbana. Council of Antiquities to develop Historic Cairo's districts. The Armed Forces Engineer- develop Cairo's historic Bab The project includes devel- ing Authority would execute Al-Azab district into a tourist oping ﬁve main heritage areas, those projects. destination in cooperation namely the Al-Hakim Mosque Last year, Egypt's Sovereign with private investors.

DIGITAL CONTENT MARKET VALUE TO HIT $432 BILLION BY 2026

The total market value of digital content would grow105% by 2026 to reach $432 billion, up from $211 billion estimated in 2021.

will be over 3.3 The report identified two criti- billion gamers by cal developments in devices that 2026, up from will create new revenue opportu- the 2.7 billion es- nities in the coming five years. timated in 2021. They are immersive reality head- They urge game sets and smart speakers. A new study released by the UK- publishers to capitalize on this Juniper Research forecast that based Juniper Research fore- growth by offering subscriptions digital content revenue attributa- casted the total market value of that leverage extensive content ble to these devices would rise digital content would grow 105% partnerships to provide regularly from $2.4 billion in 2021 to $8.1 by 2026 to reach $432 billion, up updated libraries that justify on- billion by 2026, representing a from $211 billion estimated in going subscription costs. growth of 275 percent. 2021. "Over half of digital content North America and Europe That value includes pay-per- spend will come from smart- should account for over 50% of download revenue, in-app spend- phones. However, as subscrip- revenue from immersive reality ing, subscription revenue, and ad tions become increasingly headsets and smart speakers by spending in digital content. competitive, niche areas, such as 2026. Juniper Research antici- The report also expects the augmented and virtual reality, will pates that high levels of device digital games sector to generate need to be considered when on- ownership will result in these the highest revenue by 2026, boarding content partners", said regions providing the most accounting for 45% of the global the report's co-author Saidat opportunities for monetization market value. Giwa-Osagie. in the next five years. The report forecasts that there

17 In Depth

18 In Depth

TARGETING 'TARGETED ADS'

Six months remain until companies must comply with Egypt's data protection law. Could it stop businesses from using personal information to accurately target their ads? By Nada Naguib

Mohamed Mostafa, a retired mechanical engineer, everything changed as to how consumer data is collect- receives several calls a day from real estate companies. ed and used, by whom and to what ends." "Mr. Mohamed," they begin. "We have noticed your inter- The Cambridge Analytica breach was just one of many est in properties in up-and-coming areas, and we have scandals that have also involved such internet giants as some locations we think you would like to see." Yahoo and Google. Egypt hasn't reported any massive Mostafa promptly turns down all these offers. While he data breaches thus far, but it could happen as the tech- has previously expressed interest in real estate, the fre- nology already exists. According to DataReportal, a quency of calls has become bothersome. "I do not under- research portal, 49 million Egyptians used social media stand this as a sales strategy," he says. "If I am looking for as of January, 7 million more than the previous year. something, I will approach them. These callers do not know what size property I want or what my budget is." What's more, he has never approached the companies Regulating privacy and has no idea how they could have obtained his phone Real estate companies are not the only businesses in number. Egypt using personal data in their marketing strategy. Targeted marketing has been a trend for years, with Retail clothing stores are notorious for sending out bulk consumers often feeling helpless to stop it. A new Data SMS messages about sales, and hotels follow a similar Protection law that took effect in June 2020, with a grace approach before peak holiday seasons. What these com- period until 2022, makes businesses collecting informa- panies have in common is calling or sending SMSs to tion legally liable for protecting it, notifying customers their target demographics. they have it, and allowing them access to it. However, recipients of texts and calls often claim they never consented to be approached. "SMS quickly Global threats evolved from being primarily used by families and Selling personal information that helps companies reach friends to communicate with each other to a favored their target markets is a global problem that govern- communication platform for businesses and their cus- ments have been trying to regulate. It came into the tomers, encompassing an ever-increasing portion of the spotlight in 2018 with the Cambridge Analytica scandal population," said SMSBump, a marketing app for affecting Facebook. At the time, Facebook's chief tech- Shopify, in a January article. nology officer Mike Schroepfer revealed the British con- According to the new Data Protection law, a phone sulting firm harvested information for 87 million users number falls under the category of personal informa- without their consent intending to use it in political tion, according to PricewaterhouseCoopers. Personal advertising. Under U.S. law, Facebook had a legal respon- information is anything that identifies an individual, sibility to inform its users of the breach. At the time, a including "name, voice, picture, identification number, Forbes article said, "It will be seen as the time when an online identifier or to one or more factors specific to

19 In Depth

the physical, mental, economic, cultural or social While there have been no reported data breaches identity of that natural person." So far, companies in since then, users have been trying to utilize Facebook's Egypt still are not legally obliged to protect personal privacy tools. However, these tools can be a confusing information for another six months. maze. "Researchers in the field have noticed the cogni- Egypt's law takes a page from the General Data tive dissonance between Silicon Valley's grand overtures Protection Regulation (GDPR), seen as the European toward privacy and the tools to modulate these choices, gold standard for data protection and privacy. According which remain filled with confusing language, manipula- to Clyde & Co., an international law firm, the local law tive design, and other features designed to leech more identifies principles that companies must abide by data," Colin Gray, a human-computer interaction when working with personal information: data is for a researcher at Purdue University, told Wired magazine. specific purpose, collected using a modem, and kept updated and secure. Protect thyself Additionally, the 2020 law addresses privacy concerns Nothing is legally wrong with gathering information for long held by consumers. It requires companies collect- advertising purposes when individuals give their con- ing personal client data to receive specific consent. It sent. Problems start when companies use data to also gives consumers the right to update or edit their manipulate the masses. The United Kingdom's exit from information, limit it to a particular purpose, or opt out the European Union was a case in point. In 2018, the BBC from sharing their data. reported those in favor of leaving "spent more than £2.7 million ($3.8 million) on targeted Facebook ads. The U.S. Terms and conditions social media giant has now released these ads to a com- The most prominent platforms for customized market- mittee of Parliament investigating fake news." ing, social media are not regulated by any existing Similar accusations came to light about how former Egyptian law. Setting up any social media account U.S. President Donald Trump won the 2016 election. In requires personal information: name, email address, age, 2017, the Association for Information Systems published gender, etc., and most users ignore their small-print, a 14-page report on "How Trump Won: The Role of Social multiple-page "terms and conditions." Dania Akkawi, a Media Sentiment on Political Elections." And in October, communications executive, says she has never read the Peter Suciu, a contributor to Forbes, examined how terms and conditions of her accounts. Meanwhile, researchers following social media might predict the declining approval denies access to the platform. next president. "An extremely important consideration As for what the platforms do with the data, Facebook, with social media during this election cycle is how it can for example, states it does not sell data to third parties. reach the youth vote, which could certainly determine But it does sell ads that allow companies to target partic- the outcome of the election like never before," he wrote. ular demographics. Akkawi, for instance, sees lots of ads Gray's research focuses on "dark patterns," the about fashion and e-commerce. She understands some prompting buttons that show up during browsing that people might consider these ads as an "invasion of priva- try to influence choices. That includes phone apps that cy." Yet, she doesn't mind "getting ads that are suitable prompt users to turn on notifications without a clear for me or that interest me because I learn new things." option to refuse or boxes for newsletter subscriptions While the idea of a stranger having her personal infor- being preselected as you sign up for a website. mation is a little disconcerting, it's not a deal-breaker While he acknowledged attempts Facebook has because she doesn't think it can cause much damage. recently made to protect data, he criticizes the "series of Facebook (which also owns Instagram) makes it possi- choices with brightly colored illustrations." The check- ble to withhold certain information from advertisers. It boxes selected by default reveal as much as possible, and also allows users to hide ads or opt-out of receiving per- users facing many checkboxes might ignore them alto- sonalized ads. Additionally, social media platforms are gether. "If you have a hundred checkboxes to check, responsible for alerting users to any data breaches that who's going to do that?" Gray asked. could compromise their accounts. However, some data breaches aren't a significant Facebook announced a privacy-driven new look in concern for people because they don't deal with 2019, after the Cambridge Analytica breach. The upgrade sensitive information like bank account information. included a redesign of the app and consolidated encrypt- The reality is that some don't care all that much aside ed messages across Facebook and Instagram. However, from the frequency of calls. their reputation was still "in tatters," Preston Gralla, author Until Egypt’s new Data Protection law takes effect, of over 40 books on tech, wrote in The Verge. there's no telling how domestic businesses will adapt.

20 In Depth

Companies are reluctant to share how they store according to Mostafa, that if you ask companies to information and will likely be more reluctant when take your name off a list, they actually do. they are legally responsible. Whether users or businesses are responsible, it is What is apparent is that while the data protection clear that as social media platforms continue to law will technically take effect in 2022, it likely will expand and become more sophisticated, so will com- take longer than that for companies to reduce their panies trying to target and profit from illegally use of information. In Italy, companies can keep and obtaining personal information. use personal records of clients for 365 days. Next year will prove to be vital for Egypt's new pri- According to the European Digital Rights network, vacy law. In its first year, the GDPR succeeded in noti- loopholes could allow Italy-based businesses to fying users of breaches. However, it failed to impose retain data forever. Such loopholes might exist in fines on companies that didn't adequately protect Egypt's version. Though full implementation would reveal if any exist. data, according to Slate, an online magazine. What is certain is that it will decrease customiza- However, two years after its implementation, the tion options for Facebook or Instagram users, by European Commission called it an "overall success," keeping a watchful eye on what information busi- adding it met "many of the expectations, even if a nesses have access to, thereby reducing the risk of it number of areas for future improvement have also being misused. There is even anecdotal evidence, been identified."

21 In Person

IF CONTENT IS KING, PROMOTION Digital technologies and platforms are IS QUEEN disrupting the way tourism operates. Is Egypt paying attention?

By Ola Noureldin

22 In Person

When Minister of Tourism and Antiquities Khaled al Why is digital marketing important Anani announced another royal parade is in the making to transfer the entire artifact collection of King to promote Egypt as one of the best Tutankhamun to the Grand Egyptian Museum (GEM) in tourist destinations? Giza, we couldn’t wait to interview two of Egypt’s top Omar Attia: For accessibility. Social media content content creators in travel and tourism about effective for tourism promotion is becoming very appealing techniques to improve digital marketing and tourism to foreign tourists. A single click or post can reach promotion. someone living all the way in the United States, Travel marketing has never been more important. The Europe or Asia. Digital media platforms have rise of social media and influencers means the world is become crucial for tourism promotion. Just last more on display than ever before and consumers are month, I had someone reach out to me from searching for inspiration. Slovenia saying he booked a flight to Egypt with According to a Google report, about half of leisure trav- friends after coming across an Instagram video we elers go on one or two trips annually, but spend much created on our Instagram account promoting more time and effort organizing those trips, including Egypt. This is just a very simple example. On top of following hashtags and browsing travel brands’ social that, it's easy to post everything about a certain media accounts for inspiration and ideas. “Two-thirds of attraction, be it pictures, videos, opening hours or 18- to 34-year-olds admit the ‘Instagramability’ of a desti- GPS locations. You would be surprised how many nation is the single most important factor when it comes tourists are inspired to book flights to a country to to deciding on a location,” the report says. pose for a picture the same way they saw a travel Digital platforms made it easier than ever to shop blogger pose it on social media. Through online around for holidays, as well as book a trip on a whim: 71% marketing, you don’t just tell people where to go of U.S, travellers have planned a holiday online, 79% have and how to go, you inspire them with a full shopped online for their trip and 83% have booked their experience. vacation online, according to the Travel Marketer Guide to the U.S. Digital Travel Landscape. Islam Sherif: Social media and digital platforms All of this means countries need to perfect their digital have been contributing to a great extent to the marketing to make the most of the high number of promotion of travel in general, whether in Egypt online vacation shoppers. or elsewhere. No one at this stage focuses on TV, Business Monthly interviewed Omar Attia media outlets or guides. The world right now is (@events.around.egypt), marketer and author of moving very fast and everyone wants to travel for “Around Egypt in 60 Days,” and Islam Sherif the experience, rather than for informative tours. (@_Nomads), marketer and founder of Nomad Globe The key for Egypt is using historical and cultural (@_Nomads) to get to the nitty-gritty of digital travel places to offer unique experiences and create marketing in Egypt. content to spread to the rest of the world.

23 In Person

How do you assess Egypt's come to Egypt for a unique experience not found anywhere else. It’s how you promote your uniqueness that digital marketing and branding makes the difference. Recently, there has been a initiatives the past five years? paragliding experience over the Pyramids that I've Attia: From where we stood a decade ago, we've defi- gone to. An activity like this is something we cannot nitely advanced. We have hundreds of social media access anywhere else in the world. Getting a tourist to platforms that showcase Egypt's beauty, whether come to paraglide over the last wonder of the ancient @myegypt or @experienceegypt or the official plat- world, that's a huge bucket list experience. That alone form of the Ministry of Tourism. We still have miles to will definitely get tourists to fly to Cairo. go. If we compare Egypt, digitally, to a city like Dubai, we have milestones to reach. The way Dubai spends Sherif: We need to showcase more of Egypt through millions to attract global influencers and travel blog- reaching out to content creators and better campaigns. gers from around the world to pamper them with We need a digital presence outside of Egypt. I suggest services just to get one nice picture or video from we conduct a digital campaign jointly with international their experience is the vision we need to follow. pages and bloggers just like we did with @beauti- Invitees’ millions of followers then will become our fuldestinations a couple of years back. It was a hit, but target audience. the problem is you cannot capture the success or mea- sure it without sustainability. We have to keep feeding Sherif: We’re actually moving toward a good direction content and launching one campaign after the other after the creation of @experienceegypt. The concept of for impact. having a dedicated digital channel with Egypt’s name promoting professional content to international and Who should be the target audience? local audiences is definitely great. Also, a couple of digi- Attia: Egypt has destinations to satisfy the needs of any tal initiatives designed through creating hashtags like traveler. Egypt needs to position social media cam- #thisisegypt and #beachesinegypt have been game paigns to address all age brackets and social classes changers. We have been operating under a hit-and-run through targeted campaigns catering to different inter- kind of vision. Moving forward, we need more of this ests and activities. with better focus. Sherif: Young travelers, of course. The future genera- How can we advance better? tion makes all their flight and hotel bookings online. Attia: We need a proper plan that includes a potential We need to speak to them in their own language list of invitees to the country. More importantly, we through their favorite channels when it comes to need the creative mind to address and intrigue them to marketing and promoting tourist destinations.

24 In Person

What's the first step to position campaigns to cater to those interested in adrenaline- rush activities like skydiving, which is now offered at the Egypt as one of the best touristic Pyramids, or ziplining, newly offered in Mokattam with destinations in the world? a stunning view of the mountains of Monastery of Saint Attia: Tailored campaigns. Now is prime time for it since Samaan El Kharaz. In Egypt, there are plenty of the Grand Egyptian Museum is due to open. Let's have adventures for family travelers of all income groups. a targeted campaign and invite all social media, travel bloggers, international inﬂuencers, especially those Sherif: International actors, singers and athletes come who have content concentrated on travel, history and to Egypt with their families and leave with no buzz archaeology. Once that is over, it should not stop here. I made locally or internationally around their stay or would advise the Tourism Ministry to conduct tailor- experience. An opportunity like this, if used creatively made marketing campaigns all year round. Let’s have a and wisely, is a very valuable promotion. There should calendar starting from June 2021 to June 2022. Each be a marketing team in charge of covering VIP visits. quarter we can execute a tailor-made campaign They should be informed and connected with guests to targeting a speciﬁc audience. plan a targeted itinerary for social media content cross- posting. On-ground, fun experiences need to be cus- Sherif: We need to keep on building the digital pres- tomized and executed based on their interests. For ence we already have by working alongside interna- example, a Bedouin dinner at sunset by the Pyramids tional celebrities, content creators and bloggers. We or a special permission to tour the pyramids and muse- need to spread out our content featuring touristic ums at night or even a skydiving experience. All can places and archaeological sites through the eyes of help generate rich, engaging digital media content. international audiences.

Can you share examples How do you assess Egypt’s campaign of targeted campaigns? for the “Golden Pharaohs Parade” Attia: Special campaigns to target scuba diving enthu- in terms of viewership? siasts, regardless of their age, to position Egypt as one Attia: It was extremely impressive and surpassed every- of the top 10 dive sites in the world. Then, we could have one's expectations. It revived our pride in being other campaigns targeting ancient Egypt lovers. These Egyptian. The coverage was well spread locally. groups of people are still not conﬁned to a certain social Everyone was watching it, whether live in Tahrir Square segment or age group. With the anticipated opening of or on social media and national TV. Internationally, we the Grand Egyptian Museum, targeted campaigns can expected more, but I couldn't blame them due to make a real difference. Finally, we also could launch COVID-19. Many countries are preoccupied ﬁghting the

25 In Person

virus. Nonetheless, the event still got international cov- Sherif: Invite international figures to inspire millions to erage through the BBC, CNN, online platforms like come and witness, rather than lock attendance onto Lonely Planet and National Geographic Travel. The min- government and officials. Secondly, we need to sell the istry was definitely expecting more when it comes to attendance of such an event and to market this event international coverage. I hope they are trying to over- worldwide. Imagine this: “It’s a lifetime opportunity. come that with the opening of GEM. Travel to Egypt and attend the opening of Egypt’s

Grand Egyptian Museum, hosting King Tut.” Those Sherif: It was one of the best events designed and exe- interested can register and purchase the ticket online cuted in the past 10-15 years. The viewership was very from anywhere in the world. For security purposes, the high in the local market. Yet, the parade did not get opening can even spread over two days. The first day is enough international exposure because we depended locked for special invites and presidents of the world. on Egyptian tools and platforms to showcase and cover The second day is open for celebrities and ticket hold- the parade, along with a couple of foreign news outlets. ers. Tour operators can capitalize on this immensely and The problem here is that the majority of travelers up to design a special package including flights, hotels, sight- the age of 45 do not really follow international media outlets. What we lagged in was a different type of cov- seeing and the inauguration event of the museum. erage. We had to bring a lot of content creators, famous photographers, international influencers and actors to What are digital marketing cover the experience of witnessing a parade like this. techniques Egypt can follow in its

upcoming campaign? What do you advise for the Attia: Holograms! This can be implemented in two upcoming marketing campaign ways. We can create holograms inside GEM for all the marking the opening of GEM? monuments and artifacts that are no longer in Egypt, Attia: Let’s not rush its opening and wait until the pan- like the Nefertiti bust that is exhibited in Berlin. Another demic ﬂattens down to get the chance to invite celebri- idea is to scatter holograms around iconic places in ties, international media, ambassadors and presidents Cairo to divert people to the GEM. We can create a holo- from different countries for better coverage. When it gram of the statue of Ramsis II, which has been trans- comes to music, why not have an international celebrity ported to GEM, exhibited in Tahrir square in a well- like Andrea Bocelli perform alongside an Egyptian secured area so people can see the hologram at night. orchestra like that of Nader Abbassi, who performed We can place signage underneath it to direct locals and during the mummies parade. Blending local with inter- tourists to the GEM. We can make 10 holograms to be national music will get better exposure. It’s a great placed in busy locations in Cairo. QR codes can be opportunity that we have not exploited in the past. placed around these areas for locals and tourists to scan

26 In Person

for free entry at the museum or a discounted ticket and corporate events in touristic and historical price. Ideas like these will create a social media buzz attractions like Al Manial Palace, Baron Palace, and intrigue more tourists to travel to Egypt and visit Manasterly Palace, Abdeen Palace, the Citadel. the new museum. We’re also negotiating with Orascom to have a small segment of 9 Pyramids Lounge on certain Does Egypt need different brand days to organize global corporate events. We need to follow countries like Greece, which were able to identities to position itself for position themselves as a global destination for wed- multiple markets? dings. And Dubai, which positioned itself recently as Attia: Yes. Tourism already is sub-segmented. You have a global destination for exhibitions. My dream is to medical and sports tourism in addition to archaeologi- position Egypt as a global events, touristic cal and beach destinations. That's why you need differ- destination where people from around the world ent brands to cater to those different sectors. Other can have their weddings in a place like Al Manial forms of tourism that I personally have been engaged Palace. in recently is events tourism.

Sherif: Definitely. Young travelers are growing and Do you think Egypt can be branded they are the ones spending money. We need to make as a global destination for exotic sure we do not lock Egypt in a specific area where you and adrenaline-rush activities? just come to see the Pyramids and temples and leave. Sherif: Why not? We were able for the first time We need to spread awareness that we have fun ever to allow locals and tourists the opportunity to experiences tourists can enjoy and beaches on the take a helicopter tour over Cairo, flying over the Mediterranean to hop to and from. We have Pyramids of Giza, the Citadel and the Nile as the mountains, deserts, sports, boats and safaris. Egypt is sun set over the city. We also have been working an all inclusive touristic destination that has everything with the Egyptian Air Forces for a while now to fly one can be looking for. We need to position it in a way or rent out planes to go to places that are not really that is tourist friendly with a variety of experiences plus accessible. We already made a couple of trips to a very strong historic presence. Siwa and Elba National Park, at the border with

Sudan. There’s always room for more as long as we Do you think Egypt can be branded keep on designing and branding Egypt in a way as a global destination for events? that was never seen before. We might go places Attia: This is my dream. Through my agency, I'm trying that people are used to, but if done differently, it to merge tourism with events by organizing personal would attract new people to try it out.

27 Emerging Trend

HOMEMADE FIX FOR SUPPLY CHAIN DEBACLE Direct-sales platform Brimore aims to increase market accessibility for SMEs in Egypt and overcome go-to-market challenges. By Ola Noureldin

28 Emerging Trend

Taha Zeid, 31, leads Rosa, a small tissue paper mill in which has led to more efficient supply chain operations. Cairo that has been operated by his family for over 50 A very different tech architecture is needed for big years. For the continuity of his operations, like those versus small enterprises, Mossaad noted: “Scaling the in numerous other industries, he needs a smooth, operations of startups and SMEs on-demand [to hassle-free supply chain delivering his inputs and dri- secure inputs and pushing goods to the market] is a ving his goods to the market. challenge ... They require a provider that gives them That operation ran reasonably smoothly until the on-demand scalability.” ongoing pandemic exposed weak and missing links That problem isn’t just in Egypt. Seventy percent of in his and others’ supply chains. Those gaps led to countries currently experience severe supply-chain shipment delays, increased costs, compromised delays, which in turn has every company in the net- quality and myriad other issues, says Zeid. “After work all over the world marking up their prices, nearly 16 months of living through a pandemic, we're according to the Institute of International Finance in getting used to shortages, delays of materials, its April Global Macro Views report. “Supplier delivery messed-up schedules and fewer customers,” he says. delays in the U.S. and German manufacturing sectors “It’s a shame small manufacturers have become less are almost as severe as in Japan in 2011 after the accessible over the years. Many manufacturers and Fukushima nuclear disaster,” the report noted. products will suffer and die because of inefficient Third-party logistics is the trend because compa- and expensive distribution networks that are better nies are focusing on their core business. All other suited to big multinationals.” support functions, like warehousing, can be out- A local tech firm, Brimore, may offer a viable solu- sourced, says Ahmed El Zahwi, general manager of tion to Zeid’s logistics problem, connecting him to his EF Logistics. suppliers and distributors. The company, created in Traditionally, the journey of goods from raw mater- 2017, offers small and medium sized manufacturers a ial to reaching end consumers will change paths digital platform accessible via a smartphone app for multiple times as it moves from one link in the sup- local logistics companies and manufacturers to dis- ply chain to the next, explains Mohamed Abdelaziz, play their services and needs. It currently has hun- co-founder of Brimore. For FMCG to reach cus- dreds of SMEs selling thousands of products, such as tomers, it gets even more unproductive, as a whole- fast-moving-consumer-goods (FMCG), personal care saler stocks a vehicle with a product from a single and household goods. company to roam around all day, trying to sell its cargo to a few of the thousands of grocery shops in Digitizing logistics Egypt. According to Hany Soliman, general manager of the local online payments platform PayTab, SMEs must Brimore’s model swiftly search for online options to communicate with Brimore is a social commerce platform that connects everyone in their supply chain to continue to manufac- manufacturers with consumers by leveraging mobile ture, sell and advertise their products and services. applications and social networks to enable broad, “The next generation of commerce will be online. It cost-efficient market access. It aims to help manu- is straightforward for individuals to sell online, which facturers like Zeid secure transportation for inputs encourages small companies to use online and social from his suppliers and also reach a larger market for media platforms for advertising and transactions,” his products. Mohamed Mossaad, CEO and co-founder of Flextock, “We believe direct selling is the future of selling. It an Egypt-based company that businesses and cus- is the best way to achieve the market strategy of pro- tomers can outsource to deliver and store goods, told viding high-quality products while ensuring compet- the American Chamber of Commerce in Egypt dur- itive prices,” Abdelaziz says. “This can happen as we ing an April 6 panel on logistics. eliminate additional costs of wholesale and retail, as However, SMEs need technological innovations well as transportation, storage, marketing, advertis- and developments to cater to their uncommon busi- ing for each vendor.” ness models, said Tarek Shalaan, SAP’s industry The platform, launched in 2017, optimizes branding adviser for cargo, transportation and logistics at and distribution costs, providing local manufacturers EMEA south region, during the panel discussion. He with better visibility. Brimore’s channel extends well explained that artificial intelligence and machine into the depths of rural areas, where it is uniquely learning have largely digitized the logistics sector, capable of moving a high volume of products.

29 Emerging Trend

“Last year, big companies, including FMCG players and and 70% of the business is outside Cairo and manufacturers, struggled to keep up with soaring Alexandria, with 36% of that in Upper Egypt and 10% demand from customers who stayed at home and relied from border governorates such as Sinai and the New on e-commerce and apps to order and purchase their Valley. needs online,'' says Abdelaziz. Brimore targets women living in remote areas, sell- Prior to 2020, e-commerce was largely operated by ing goods out of their homes. Products include per- sellers, most of whom operated on a small scale. The e- fume, makeup, canned food, detergent, bed sheets commerce spike brought orders of multiple products in or even socks. Using the Brimore app, these women large quantities, which needed fleets and large ware- can order the products directly from the supplier in houses to be fulfilled, Abdelaziz notes. bulk and use their local networks (typically other “Egypt and the MENA region were not ready in terms women who manage household purchases) to make of the fulfillment infrastructure to cope with bulk orders sales. “This fuels a word-of-mouth type of direct sell- of home-use goods and commodities,” Abdelaziz says. ing, which takes the burden of marketing costs off At the same time, small manufacturers struggled to manufacturers.” attract and retain customers, as well as ensure the avail- “Of Brimore’s distributors, 92% are women who ability of their products. “The first is a marketing prob- want high-value jobs and the option to work from lem, the other a distribution and supply chain issue, and home,” says Ahmed Sheikha, chief brand officer and both are extremely costly,” Abdelaziz says. co-founder. “We’re on a mission to support our distributors through economic empowerment and con- Homemade solution tinuous training. We started in Egypt, but we aim to Brimore moves products directly from manufactur- grow in other emerging markets, particularly in ers to independent sellers across all 27 of Egypt’s Africa." governorates, Abdelaziz says. More than 200 manu- As of May, as many as 50,000 women were selling facturers distribute products through the company, through Brimore, according to Abdelazziz. “Women

30 Emerging Trend

are looking for flexible jobs so they can work from “We're very impressed with the Brimore team and home without leaving their families,” he notes. their approach to solving an expensive and complex problem,” Tarek Assaad, Algebra Ventures managing Two steps ahead partner, said after the funding round. “We believe the Brimore launched its own end-to-end fulfillment company will change how small and medium manu- business last year to keep up with the surge in facturers think about selling goods to the large base orders. Before that, the company outsourced some of Egyptian consumers.” operations. “We decided to take on our own supply "We are proud to support Brimore in their endeav- chain infrastructure, including a warehouse to store ors to enable resellers and hopefully change their all products we dispatch and a last-mile delivery ser- lives for the better. Brimore is solving a problem seen vice, which is the very last step of the delivery in many emerging markets -- how to get products to process when a parcel is moved from a transporta- a wider base and fix broken distribution channels," tion hub to its final destination -- in this case, the says Hasan Haider, partner at 500 Startups. "In addi- women who directly sell products to consumers,” tion, the support being given to their partners and Abdelaziz says. women all over Egypt to build their businesses and The business model is proving attractive to venture be self-sufficient is a great benefit." capitalists. Brimore raised $3.5 million in a pre-series A The long-term objective is to become Egypt’s key dis- funding round led by Algebra Ventures in 2020. tribution channel, Abdelaziz says. About 5% of Brimore’s Flat6Labs, Disruptech, Vision Ventures and 500 business is imported products and the company hopes Startups also participated. That came a year after the to expand to East Africa. “We wish to position ourselves company secured $800,000 in seed funding in a round as a gateway to the Egyptian market for both local and led by Algebra and Endure Capital. Just last month, international brands. We aim to become the main dis- Endeavor Egypt welcomed Sheikha and Abdelaziz to tributor for locally made products and the go-to place its network of high-impact entrepreneurs. for any manufacturer that has a new product.”

31 American Impact

BIG GOVERNMENT:The return President Joe Biden wants the federal government to lead the economic recovery in the United States. While many Americans love the idea, some experts warn it may backﬁre. By Tamer Hafez

32 American Impact

When it comes to the economy, many governments book "Epic of America" as "that dream of a land in would agree the private sector is the engine driving it which life should be better and richer and fuller for forward. It is an important policy message of the OECD, everyone, with opportunity for each according to ability a club of mostly rich nations. "As the major contributor or achievement." to economic growth and employment creation, the pri- The movement towards small government tem- vate sector has a central place," it noted in 2017. porarily reversed after The Great Depression with the Additionally, as a regulator, a government should not New Deal starting in 1933 to recover America's decimat- influence supply and demand, violating a key dynamic ed economy. By 1939, government investments started within any private sector-led economy. shrinking once again but retained leadership in some However, in his first 100 days in office, U.S. President aspects. "In the short term, New Deal programs helped Joe Biden sought approval from Congress for a total of improve the lives of people suffering from the events of $6 trillion to stimulate spending, create jobs and subsi- the depression," noted an explainer published by The dize eligible families. To pay for it, Biden wants to Library of Congress. "In the long run, New Deal pro- increase taxes on top corporate and individual earners. grams set a precedent for the federal government to "It's time to build our economy from the bottom up and play a key role in the economic and social affairs of the from the middle out, not from the top-down," he said in nation." April. "It is a once-in-a-generation investment in By 1996, President Bill Clinton, in his first speech to America, unlike anything we have seen or done since Congress, made it official: the "era of big government is building the interstate highway system ... It is the over." However, some protections for the poorest largest jobs investment since World War II." Americans would remain. Some experts believe Biden's plans will mute In the aftermath of the 2008 global financial crisis, the America's love of hands-off capitalism in favor of "big federal government debated introducing restrictions government" leading investments for the coming on businesses. In 2009, Meg Whitman, a former CEO of decade. "He's ushering in a new policy paradigm, or eBay and then Hewlett-Packard CEO, told ABC News 'Bidenomics,' to replace the old austerity paradigm of that companies could only thrive when the govern- Reaganomics," wrote Noah Smith, a Bloomberg ment is "making a small number of rules and getting columnist, referring to 1980s policies favored by then- out of the way. Keeping taxes low. Creating an environ- President Ronald Reagan. ment for small businesses to grow and thrive." Research shows the American people favor that core More than a decade later, the prospect of economic shift in U.S. government policies and strategies. Political lockdowns to curb COVID-19 resulted in Donald Trump, opponents and experts point out that funding such a a business tycoon before winning the presidency in massive budget using debt and taxes would hamper 2016, going against the small-government ethos. In GDP growth, which the IMF forecasts to be 6.5% this March 2020, Congress passed the $2.2 trillion CARES year. Act, which included higher unemployment benefits and one-time $1,200 payments to individuals, and cre- U.S. government ated the Paycheck Protection Program that offers small businesses forgivable loans. But by December, an The American government's underlying policy was to additional one-time payment of $2,000 fell short of con- limit influence and power, as dictated by its 1789 gressional approval. Constitution. According to James Madison, co-author of the "Federalist Papers," the separation of power among government branches ensures that each has Biden's big government limited jurisdiction. "The great security against a grad- Upon taking office in January, Biden left no doubt he ual concentration of the several powers in the same would continue to ask Congress for more trillion-dollar department consists in giving to those who administer checks to "build back [America's economy and society] each department the necessary constitutional means, better." The IMF had just reported the U.S. economy and personal motives, to resist encroachments of the shrank 3.5% in 2020. In April, Jim Tankersley, New York others," he wrote. Times White House correspondent, noted that Biden's Over time, the small-government concept benefited "economic agenda might have seemed unthinkable as America's economic growth. In 1931, James Truslow the United States was emerging from ... a recession Adams coined the phrase "American Dream" in his when austerity politics still ruled the Capitol."

33 American Impact

Biden also allocated an undis- prominent government role in lead- The U.S. president touted his plan closed amount to the Internal ing the economy out of the COVID- as a "long list of tangible improve- Revenue Service to increase audits 19 crisis. Karlyn Bowman of the ments in Americans' daily lives," of those making more than American Enterprise Institute, a wrote Tankersley. That includes $400,000 a year to raise $700 million conservative-leaning think tank, smoother roads, affordable child in the coming 10 years by reducing said increasing numbers of care, cleaner and more reliable elec- tax evasion. "I'm not out to punish Americans had wanted more gov- tricity, and faster internet service in anyone. I will not add ... an additional ernment intervention in the market rural areas. tax burden to the middle class of since Trump took office in 2016. In March, Biden's first stimulus this country," said Biden in April. "This is what happens when [the] package totaled $1.9 trillion in eco- Many economists and other government actually works for peo- nomic aid -- $1,400 checks to all experts believe the rest would ulti- ple: There's no backlash," Jon Lieber, Americans. A week later, he mately come from increasing a managing director for the Eurasia announced a $2.3 trillion infrastruc- America's budget deficit, though Group, told The New York Times in ture plan "aimed at everything from Biden has promised otherwise. "We May. "The dynamic is so different repairing 10,000 bridges to tearing can do it without increasing now because the response during lead pipes out of millions of homes," deficits," he said in an address to a the crisis was more populist, more reported Reuters. By the end of joint session of Congress in April. people-focused." April, he had proposed a $1.8 trillion Support for borrowing is substan- Some still can't fathom the shift. initiative called the "American tial in light of prevailing financial "So, what's going on here? Families Plan." It includes $1 trillion conditions. "Like many govern- Americans have long been skeptical in new spending and $800 million in ments around the world, the Biden of more government intervention, tax credits. "The plan aims to expand administration will finance the and public trust in government anti-poverty measures the presi- spending through borrowing as it remains historically low," said Daniel dent implemented in the wake of capitalizes on historically low-inter- Cox, a research fellow at the the COVID-19 crisis and prioritizes est rates," wrote Suzanne Lynch, the American Enterprise Institute, in helping working- and middle-class Irish Times' Washington correspon- May. "Do Americans really want American families," wrote Kelly dent, in May. Nir Kaissar, a more government in their lives?" Anne Smith, a Forbes adviser. Bloomberg columnist, added: "With Melissa Kearney, director of Aspen Tankersley said $600 million of the long-term U.S. interest rates at his- Economic Strategy Group, attrib- American Families Plan would likely toric lows, a record surge of cash in uted the change to the pandemic be permanent, while the rest would circulation and many Americans and fallout from the 2008 global last for years. flush with savings accumulated dur- financial crisis. "People had this ing the pandemic, the federal gov- hope that we would emerge from Money pit ernment ... has access to a trove of this pandemic strong," she told The Financing this massive plan will cheap money," he wrote in an op-ed. New York Times in May. "Maybe come from increasing taxes on "We think Congress should primari- that's what's happening ... It's pretty companies and individuals at the ly borrow the money needed for exhilarating to see the president top income tiers. By the end of April, Biden's plans." pushing them forward right now." Biden had announced those whose average annual income is $2.2 mil- Mass appeal High risks lion would be affected the most. For many Americans, checks from Some have raised concerns that According to the U.S.-based the government were an answer to while "big government" might be Institute on Taxation and Economic prayers. In September, a Gallup poll good for the economy in the short Policy, taxes would increase from found 54% want more help from the term, it could cause problems down 37% to 39.6%. That equals an annual government, the highest percent- the line. "I think it'll catch up once it average of $159,000 additional pay- age since the survey started in 1992. all sinks in," said Sen. Mike Braun, a ment per person in that tier. Two-thirds of those surveyed Republican from Indiana. The capital gains tax rate would be approved of Biden's $2.3 trillion A prime concern is the proposed 39.6%, up from 20%. Those making infrastructure plan. higher taxes on companies. "There is $1 million or in net profit from selling A CBS News and Pew Research plenty of evidence that raising cor- inherited assets would pay 43.4% on Center poll in 2020 found 52% of porate income taxes affects all work- that portion. those surveyed supported a more ers by reducing wages, slowing

34 American Impact

employment growth and imped- the $6 trillion stimulus plans. The ing innovation," wrote Adam U.S. government reported that in Millsap, a senior fellow at the Stand January 2021, the federal deficit had Together Institute. "Several studies more than tripled to $3.13 trillion over the last 15 years find that state from just under $1 trillion a year ear- corporate tax increases have lier. "Reducing the deficit is not a adverse economic consequences." high public priority," wrote Cox of However, Ben White, Politico Pro the American Enterprise Institute. chief economist, noted an exception "But a new Quinnipiac poll [released is when the economy suffers, and in April] shows 48% of Americans are the government wants to fast-track worried the Biden administration recovery. In the economic narrative, wants to spend too much money." a "recession" means two consecu- tive quarters of GDP contraction. Until it's not needed "The New Deal is perhaps the best Experts can't agree on whether example," he argued. Income taxes Biden's "big" government repre- at the time reached up to 75%, sents a permanent policy shift. "It's according to the IRS website. very possible ... that our era of more Pouring money into the U.S. econ- government intervention will be omy in 2021 is a significant concern short-lived," Cox told the Survey as the IMF estimates the country's Center on American Life in May. He GDP will grow 6.5% this year after cited a 1995 research paper by contracting by 3.5% in 2020. Biden's Christopher Wlenzien, a Professor of "case is dramatically complicated by Government at the University of the fact that the economy is already Texas at Austin, saying more gov- roaring ahead ... as long as vaccina- ernment intervention is "cyclical." tions continue at their current pace According to Biden, the govern- and new strains of the virus do not ment would continue its spending emerge," said White. spree for at least a decade to equip Some also criticize Biden's plan to Americans to compete with other make the wealthiest Americans pay countries. "We can't be so busy more taxes. Data from the Tax competing with each other that we Foundation indicates that in 2018, forget the competition is with the the richest 1% of taxpayers account- rest of the world to win the 21st cen- ed for 40.1% of all income tax rev- tury," he said. "To win that competi- enue, while the top 50% covered tion for the future, we also need to 97.1%. make a once-in-a-generation Another issue is that having so investment in our families, in our much "free" money in circulation children." might fuel inflation. The U.S. Bureau Edward Keenan, The Star's of Labor Statistics reported inflation Washington bureau chief, wrote in a had grown from an annual rate of May blog that Biden will face 0.1% in May 2020 to 4.2% by the end stronger headwinds as time goes of April 2021. Economic narratives on: "By the standards of few years. In that case, Lynch of the suggest that rising inflation usually Washington politicians, these poli- Irish Times believes it could mark a results in consumers cutting back cies are boldly overturning conven- historical turning point that might on spending. Some experts, howev- tional wisdom of what's politically redefine America's economic poli- er, noted that rising prices could possible." That means future presi- cies for decades. "While Biden's eco- cause a short-term boom in spend- dents might end Biden's "big gov- nomic ambition may be a gamble, ing amid fears that prices will rise ernment" push. particularly given inflationary con- even higher. However, suppose the U.S. presi- cerns," she wrote, "it undoubtedly Another potential budget problem dent's spending push significantly marks a very different kind of ... poli- looms if Biden borrows to finance benefits the electorate in the next tics from 25 years ago."

35 In Focus

DIGITAL VACCINE PASSPORTS: A QUANTUM LEAP FOR HEALTH TECHNOLOGIES

By Basel Hammoda, strategy and innovation adviser and digital transformation researcher at Tallinn University of Technology (TalTech)

What is a digital How vaccine for traveling or domestically to vaccine passport? move between cities or states and passports work access indoor venues and events. A COVID-19 digital vaccine pass- How a digital vaccine passport would Israel, for example, has launched a port would not be like the carte operate is most explicitly presented "green passport" that gives holders jaune (the paper card used by the in the EU "Digital Green Certificate" access to places like gyms, theaters, WHO to indicate vaccinations or proposal. It will contain a QR code hotels, concerts, and synagogues. prophylaxis status for certain dis- with a digital signature to protect New York state will use the Excelsior eases) or the little booklet current- against falsification. When officials Pass smartphone app to prove vac- ly presented to immigration offi- check the certificate and scan the cination or negative COVID-19 test cials when crossing an interna- QR code, the signature is verified. All results. The International Air tional border. The digital vaccine digital signatures and the data they Transport Association (IATA), which passport will be a mobile app with hold are the property of issuing bod- represents 290 airlines worldwide, is a scannable barcode that shows ies/countries (For example, health developing an app called Travel an individual's vaccination status authorities) stored in their secure Pass. It would let users upload docu- and the status of COVID-19 tests databases. The EU (or other authenti- mentation to prove vaccination sta- by linking to databases that hold cating bodies) will build a gateway tus, check health entry require- vaccination and test records. That (app) through which all certificates' ments for countries they plan to visit will allow officials to check signatures can be verified. The per- and find COVID-19 testing centers. whether a person has been vacci- sonal data encoded in the certificate Putting the concept into action, the nated, received a negative COVID- will not pass through the gateway. It U.K. launched its vaccine passport 19 test, or recently recovered from acts as a "read-only" application and on May 17, although only for UK the disease. thus will not store or process a copy nationals and residents. The key features of such a pass- of a person's health information. More countries have started or will port are debatable, but most shortly begin to rely on vaccine pass- experts agree that it has to be dig- ports to alleviate testing and quaran- ital whenever possible with a safe Countries using tine requirements for travelers, be and secure QR code and free of vaccine passports they nationals and foreigners. Most charge. The information must be In addition to the EU, several coun- early adopters are sought-after tourist available in national languages tries, multinational organizations, and destinations such as the Bahamas, and English to enable officers in even individual cities have taken the Croatia, Cyprus, Ecuador, France, any part of the world to "read" it, initiative at building and launching Germany, Greece, Iceland, Maldives, thus extending its geographical their digital vaccine passport. These Malta, Nepal, Spain, Tahiti, and the validity. passports can be used internationally United States (for domestic travel).

36 In Focus

Digital vaccine passport challenges, opens the door to discrimination and fraud, and can become a privacy mineﬁeld. Not to mention opportunities and challenges that until now, not all countries approve all vaccines. Public support for digital vaccine passports has been overwhelming. A recent Ipsos survey of 21,000-plus adults across 28 coun- An opportunity for digital tries showed that most people (78%) agree that health innovation COVID-19 passports should be required of travelers to enter their countries, adding that it would be an effective tool in making travel and large events safe. Nonetheless, they have not received the expected backing from some countries and organizations. In America, White House ofﬁcials have said no vaccination passport is offered or mandated by the federal government. The WHO holds a similar position, advis- ing national authorities not to introduce proof of COVID-19 vaccination for international travel yet. Arguments in favor of vaccine passports con- tend it will bring about a long-awaited return to "normal" life and encourage people to get the shot, helping contain the virus and allowing countries to reopen their economies fully. Digital passports represent a quantum Despite the promises, vaccine passports have their leap for digital health technologies that have struggled challenges. On the one hand, there are already many to advocate their adoption. A digital vaccine passport passports on the market, with more springing up every serves as tangible evidence of the usefulness and value day. The standards and operational aspects of these digital health can bring to people's lives and the econo- "apps" will need to be harmonized. In addition, linking my. If it succeeds, like everyone is hoping for, it will be up databases from health providers and vaccination to digital health innovators to develop subsequent centers to any gateway presents immense logistical applications of equal worth to human life.

37 At a Glance

In Partnership with

DECODING THE ECONOMICS OF COVID-19 MORE THAN ONE YEAR LATER: HOW DID ECONOMIC SECTORS FARE SINCE THE BEGINNING OF THE PANDEMIC?

In March 2020, at the onset of the pandemic in Egypt, Dcode EFC had identified the below potential “winning/ losing” sectors based on a qualitative and quantitative assessment of potential COVID-19 impacts thereon. One year later, we look at the actual performance of these sectors versus expectations, while shedding a light on government support measures as well as digitalization efforts that have helped keep some of them afloat. Overall, 10 out of 14 sectors turned out as expected (71%). Meanwhile, three sectors have beaten expectations as discussed below; and only oil & gas performed below expectations with the lower global and local demand which led to lower oil prices and production.

DCODE EFC EXPECTATIONS IN MARCH 2020

+ Changed from loser to winner - Changed from winner to loser = A change in consumption has led to a change 6 Turned out as expected in offerings (shift to other products/ online Acceleration of FinTech 5 sales). A number of clothing factories started to manufacture fabric masks. Manufacturing Financial (Non-Essentials) Services 4 = + 7 14 Government investment in infrastructure, A shift to E-learning; The pandemic expectedly resulted coupled with investment patterns of sector modernization in higher demand on pharmaceutical consumers, have supported the Construction Medical Supply products’ imports and exports. sectors and avoided a huge contraction. & Real Estate Education & Services = + =

8 While home consumption of food increased during Government’s older-vehicle the lockdown period, replacement and conversion Potential Potential 13 COVID-19 has negatively initiative supported the Food Processing 3 Automotives Losers Oil & Gas Winners affected Hotel-Restaurant- automotive industry whose _ & Retail Trade + = Institutional demand for sales increased in 2020. beef, poultry, dairies, sweets and snacks.

Suez Canal receipts witnessed Increased production 2 a slight decline yet outperformed Aviation & 9 Personal & 12 and exports of medical global trade. Maritime Agriculture Healthcare masks and sanitizers = Necessity; no change = = in growth rate Tourism & ICT Expectedly, tourism sector Leisure 10 E-Commerce = = = 1 was the most affected even Source: Dcode EFC analysis 11 given government support. An acceleration of E-commerce and internet usage due to social distancing

WHAT ACTUALLY HAPPENED

Construction & Real Estate Agriculture

Manufacturing Medical Supply (Non-Essentials) Education & Services

Low High Food Processing Performers Financial Performers Oil & Gas & Retail Trade Services *

Aviation & Personal & Maritime Automotives Healthcare

Tourism & Leisure E-Commerce ICT

In the following page, we look into more details on each sector’s actual performance, government support measures and how digitalization has touched upon almost all sectors, contributing to their performance.

*It is worth noting that according to the International Food Policy Research Institute (IFPRI), some food processors have benefitted from COVID-19 while others’ losses were relatively small.

38 At a Glance

ACTUAL PERFORMANCE & GOVERNMENT MEASURES

Tourism Sector Y-o-Y Growth (%) No. of Payment Cards (Mn) Internet Y-o-Y Increase in Sep-20 (%) 16.3 Prepaid Cards 21.9 +35% Mobile internet 3.4% subscripons 32% 17.3 Debit Cards 19.0 +10% Dec-19 ADSL subscripons 19% Credit Cards 3.4 -39.4% 3.9 +14% Dec-20 H1 2019/20 H2 2019/20 Lower ATM & transfer fees; subsidized loans The % of mobile internet subscriptions from Increased shift towards FinTech total mobile subscriptions increased by 13 PPT 1 The government has introduced tax holidays 6 11 Most commercial banks have reported Communications sector grew by 14% in H2 & access to subsidized loans for the sector. relatively healthy profits for 2020 2019/20 from 16.5% in H1 (highest)

Decline in Suez Canal Demand on face masks, sanitizers and net tonnage in 2020 protective equipment has skyrocketed -3% Education sector’s growth Egypt’s total daily production of medical masks The Suez Canal Authority reduced fees in H2 2019/20 compared has reached 3 million masks, working for container ships to attract traffic. +3.9% to 4.1% in H1 at one-third of the production capacity** It is worth noting that global trade Egypt’s exports of ethyl alcohol*** went up by 505% in 2020 to USD 2.58 mn even given is estimated to have declined by a A shift to online/ blended learning 2 higher 9.6% in 2020. 7 12 a temporary ban of exports of masks & alcohol EgyptAir losses recorded EGP 7 bn in 2020. sanitizers to ensure availability

Extractive Industries Sector Y-o-Y Growth (%) Wholesale & Retail Trade sector grew by 3.9% Increase in passenger 1.4% in FY 2019/20 (from 3.8% in 2018/19) car sales in 2020 An increased interest & investment in +32% E-commerce channels within the grocery -6.0% sector and food services (whether B2C or The government is providing low-interest H1 2019/20 H2 2019/20 B2B) such as: loans for car owners to convert or replace A hit to global & local demand and oil prices -Max AB (a B2B e-commerce marketplace) 3 1.8 mn cars to run on both gasoline and NG. 8 Gas industry data indicate that Egypt's exports 13 -Fakahany (fruits and vegetables platform) Car imports were up also 42.8% in 2019/20. of LNG during the first quarter of 2021 -e Aswaaq (B2B Marketplace provider) will exceed the total for the whole of 2020 -Trolley (An online market)

Construction & Real Estate Sectors’ Y-o-Y Growth (%) Agriculture Sector’s growth Value of pharma Construcon & Building Real Estate +3.3% in 2019/20 (no change) EGP 14.4 bn sector M&A’s in 9.1% 2020 (2nd highest) Being a necessity, the agriculture sector 4.8% 3.0% growth remained unchanged in the full year Health sector growth increased from 3.7% 0.6% despite slowing from 4% in H1 to 2.6% in H2 in 2018/19 to 4.3% in 2019/20. H1 2019/20 H2 2019/20 Egypt’s food exports also stabilized at Meanwhile, the healthcare sector came in 4 9 USD 3.5 bn in 2020. 14 second in terms of the number of M&A’s Continued implementation of mega projects Sector benefited from subsidized loans in 2020 (19 transactions up from 10 in 2019). Subsidized mortgages

Manufacturing Sector Y-o-Y Growth (%) Value of online consumer 4.4% USD bn goods purchases in 2020 Sources: Central Bank of Egypt, Ministry of Planning & Economic Development, Ministry 3.3 of Tourism, Suez Canal Authority, IMF, AMIC, CAPMAS, MoF, UNIDO, Ministry of Petroleum, Food Export Council, United States Department of Agriculture (USDA), International Food Policy -1.8% (+63.5% y-o-y) Research Institute (IFPRI)Hootsuite, MCIT, NTRA, Trend Economy & Enterprise.press H1 2019/20 H2 2019/20 **According to a statement by the head of the Medical Supplies Division of the General During that year, food & personal care grew Federation of Chambers of Commerce in January 2021 CBE’s EGP 100 bn industry stimulus initiative ***"Undenatured ethyl alcohol 80% strength or higher; ethyl alcohol and other spirits, 5 Industrial Index**** contracted by 6% in 2020 10 by 94.8% followed by toys, DIY & hobbies denatured, of any strength" Sub-indices that expanded in 2020 are paper, (65.1%), fashion & beauty (62.8%) and ****UNIDO’s Seasonally-Adjusted Industrial Performance Index (IPI) minerals, pharmaceuticals and furniture. furniture & appliances (62.1%).

DIGITALIZATION HAS TOUCHED UPON ALMOST ALL SECTORS WHICH CONTRIBUTED TO THEIR PERFORMANCE According to global reports, the COVID-19 pandemic and the need for social distancing and contactless experiences has accelerated the use of digital technologies worldwide. It has also resulted in the digitization of companies’ processes at almost every stage of their value chains including customer interactions and supply chains, among other operations. The same is happening in Egypt, whereby the digital transformation is being witnessed in almost all sectors. Below are some examples.

Tourism: Agri-food: Online museum The emergence of tickets & virtual online groceries tours

Real Estate: Retail Trade: www Online registry Acceleration of services e-commerce

Banks: Government: Increasing ATMs & Online filing of POS machines taxes & customs

Education: FinTech: A shift to online/ Launch of several blended learning FinTech funds*

*Including the USD 25 mn Disruptech, and the CBE’s EGP 1 bn FinTech fund in 2020. VCs made commitments to 12 FinTech outfits in 2020.

39 Market Watch Stock Analysis

Back to square one

After losing ground for two consec- stocks they bought on margin but on May 17, the first day after the utive months, the market’s two additional shares offloaded to repay long Eid El-Fitr vacation. FWRY has leading indices recovered nearly all margin loans. long been rumored to replace their year-to-date losses from April Reviewing the top performers for SWDY in MSCI Emerging Markets, 15 to May 15. The EGX 30 ended the the period shows how much the which eventually materialized after period up 6.2% and down year-to- Egyptian stock market has changed. the Eid vacation. That said, for this date only 0.7%. Meanwhile, the EGX The top 10 performers included such period, FWRY inched 5.5% higher, 70 EWI ended the same period 18.7 unfamiliar names as Ajwa Food In- while SWDY gained 11% to defy mar- % higher and up year-to-date 0.8%. dustries (AJWA, up 96%), Real Estate ket expectations. But once the The EGX 70 EWI had a rockier ride, Egyptian Consortium (AREH, up news made the rounds, the first day having long drifted away from the 65%), ICON (ENGC, up 63%), and Arab after the Eid vacation saw FWRY EGX 30. Many individual investors Moltaqa Investments (AMIA, up jump and SWDY plummet. and speculators, for that matter, 59%). Not only that, but such strong Elsewhere, the Central Bank of flooded the market with liquidity performance is not usually predi- Egypt decided to keep interest rates that was easily leveraged with mar- cated on solid fundamentals. For in- unchanged, in line with market gin loans, thus creating a two- stance, AJWA reported net losses in expectations. Thus, the decision had edged sword. On the one hand, nine of the past 10 financial years. no significant impact on either the margin loans helped fuel market Back to the stock market that we market or investor sentiment. In the turnover, with retail accounting for used to know. Fawry (FWRY) and future, investors and speculators 70% to 80% of trading. On the other Elsewedy Electric (SWDY) have should be wary of the geopolitical hand, once the market turned been the subjects of a tug of war tensions with Ethiopia and what a south, almost everyone ran for the among investors who bid the declared war could mean for the exits, bringing down not only the former higher and the latter lower state’s finances and the market.

Juhayna Food Industries

5.73 In December, Juhayna Food Industries (JUFO) 5.67 5.6 5.6 5.5 5.5 shares declined following founder and chair- 5.64 5.5 man Safwan Thabet's arrest. Police are detain- 5.51 5.51 5.34 ing him subject to the investigation surrounding allegations of ﬁnancial irregular- ities unrelated to the company. In February, 5.13 5.05 5.03 his son and the company’s CEO, Seifeldin 4.91 Thabet, also was detained as part of the same 4.81 case. As a result, JUFO’s stock fell 30% in the last six months, a third of which took place during the period after falling 12.5%. JUFO is now trading near a 4.5-year low. 4/15/21 4/18/21 4/21/21 4/24/21 4/27/21 4/30/21 4/3/21 4/6/21 4/9/21 4/12/21

40 Market Watch

EGX 30

10767.84

10686.03 10642.49 10643.63 10620.05 10604.28 10591.42 10588.09 10600.07 10512.84 10525.84 10441 10475.26 10465.59

10358.26

10143.21

4/15/21 4/17/21 4/19/21 4/21/21 4/23/21 4/25/21 4/27/21 4/29/21 5/1/21 5/3/21 5/5/21 5/7/21 5/9/21 5/11/21

EGX 70

2161.97 2130.91 2135.42 2123.71 2101.37 2079.95 2129.23 2066.62 2060.57 2058.98 2011.75

1970.77 1958.39

1915.58

1865.45

1820.99

4/15/21 4/17/21 4/19/21 4/21/21 4/23/21 4/25/21 4/27/21 4/29/21 5/1/21 5/3/21 5/5/21 5/7/21 5/9/21 5/11/21

NileX

1269.5 1270.15 1263.43 1257.61 1246.99

1239.84 1239.98 1232.56 1239.63 1231.9

1211.7

1200.08 1195.62 1197.65 1191.7 1191.29

4/15/21 4/17/21 4/19/21 4/21/21 4/23/21 4/25/21 4/27/21 4/29/21 5/1/21 5/3/21 5/5/21 5/7/21 5/9/21 5/11/21

41 The High Life

A DAY AT THE MUSEUM Fustat's new National Museum of Egyptian Civilization is a worthy prelude to the highly anticipated opening of the Grand Egyptian Museum, heralding a new age of tourism. By Adam Skaria

Billed as the "Pharaohs' Golden Parade," the mummies sive chronological exposition of the entirety of Egyptian of some of Egypt's most immortalized rulers emerged civilization. This characteristic, coupled with the NMEC's from their resting places in a lavish procession through easily navigable size, partitioning and structural arrange- Cairo. The mummies of Ramses the Great, Seti I, ment, ensures a rich "in-a-nutshell" viewing experience. Thutmose I and Ahmose Nefertari were among the 18 Indeed, the NMEC signiﬁes not only the govern- kings and four queens that made the journey about ment's concerted push to reposition Egypt's belea- 3,000 years after their burial in the iconic Valley of the guered tourism industry, but a broader initiative to Kings and Valley of the Queens in Egypt's distant south. honor Egypt's role as custodian of priceless relics This time, however, their burial chambers in the new from time immemorial. National Museum of Egyptian Civilization (NMEC) have been impressively purpose-built to venerate First impressions their legacies, further preserve bodily integrity (which The NMEC is located on the archaeological site of El- the ancients managed with matchless proﬁciency) Fustat in Old Cairo, overlooking Ain El-Seera Lake. A and offer the local and international public an oppor- large esplanade greets visitors styled similarly to tunity to conveniently, informatively and comfortably ancient Egyptian temples and monuments with view them in all of their glory. large stone slabs, angular subsections, and imposing What completes the appeal of the recently inaugurat- columns. Visitors end their viewing experience by ed NMEC, which opened April 18, is the fact that it is not exiting onto the raised platform overlooking the lake solely a mausoleum to Egypt's pantheon of pharaonic and looming limestone cliffs a short distance across demigods. Instead, it was conceived and commissioned the water. A restaurant here offers a relaxing way to in collaboration with UNESCO to serve as a comprehen- end the museum experience.

42 The High Life

The Ministry of Tourism and Antiquities developed nearly all of the exhibits on the main level. The museum NMEC in tandem with the planned revitalization of a is arranged chronologically around this circular concept, historic part of Old Cairo, including El Moez street, whereby viewers walk around the center while encoun- another part of the government's efforts to reinvigo- tering progressive periods of history: prehistoric, rate the capital's heritage sites for tourists to enjoy pharaonic, Greco-Roman, Coptic, Islamic, and, finally, more freely and easily than ever before. modern Egypt. The NMEC's minimalist, understated We visited the museum as a party of five on the last architecture maintains a spotlight on the exhibits. Tuesday in April and were surprised to see the museum's This setup was an appreciated facet of the NMEC, entrance hall brimming with masked international and which we all thought gave an added element of unique- local visitors. ness. We also felt this was essential to its complementary Immediately noticeable is the museum's appealing role with the original Egyptian Museum in Tahrir Square yet relatively compact size, constructed in an almost cir- and soon-to-open Grand Egyptian Museum. cular shape consisting of two levels. At the heart of the Other welcome features are adequate signage, plac- high ceiling in the vast main foyer, an inverted glass pyra- ards, and text identifying and explaining nearly every mid points to the center of a wide portal that looks down artifact. At the Egyptian Museum in downtown Cairo, onto the chamber of mummies below. From this upper many informational placards are outdated, missing, or level, you can view an impressive videographic montage inadequate. of some of the most remarkable examples of ancient The NMEC, although clean and well-lit, could benefit Egyptian art projected in high-definition onto the from more natural light. However, this might have been ground below. intentional to emphasize artificial white light, which As we walked into this grand foyer, we were able to see arguably offers more clarity. Nearly all exhibit sections

43 The High Life

allow for a 360-degree viewing experience, and many NMEC are a marked improvement from the Egyptian more oversized items were displayed prominently and Museum, where they were crammed into dank, dusty not encased. rooms or encased in glass boxes in need of refurbish- ment. However, at the NMEC, these mind-blowing In a nutshell examples of ancient Egyptian ingenuity and history Perhaps the most standout feature of this museum is receive the treatment they deserve. its organization around the principle of a chronological All mummies at the NMEC are displayed behind clean, journey through the eras of civilization, instead of clear glass at 20 to 21 degrees Celsius for optimal preser- focusing on the popular pharaonic period. vation, and informative placards accompany each. The The curation of the displays gives a complete picture of mummies are given enough space for the most traffic- each period, which is no small task given the amount of free and comfortable viewing experience while adding time covered and the number of stories to tell. Among to the allure of each mummy in the process. the more intriguing items are loaves of bread more than Stepping into the chambers, there is a palpable feeling 3,000 years old that look like they might have just come of the pharaonic concept of the underworld, where souls out of an oven. would be reinvigorated for the afterlife. The sharp chill of Also intriguing is the imposing and austere, towering the temperature-regulated space only encourages this statue in the main viewing hall of the pharaoh sensation. Inside these chambers are the most impres- Akhenaton, with his characteristic pot belly, elongated sive assets of the NMEC, the giant wooden sarcophagi skull, and disproportionate features. Akhenaton was and mummified remains of Egypt's pharaohs of antiqui- known for abandoning Egyptian polytheism for a ty. Most striking and unforgettable were the grotesque monotheistic system of worship of the sun deity Aten and dramatic contortions and poses of some of these thousands of years before Constantine converted the mummies. polytheistic Roman Empire to Christianity. There were disfigured visages, some with vivid expres- Akhenaton's unembellished depiction stands apart in sions of anguish and torment, contrasted with others ancient Egyptian history. Egyptologists maintain that he frozen in the embrace of solemn tranquility. One insisted on his likeness depicted most truthfully, unlike mummy showed signs of a fatal blow to the head that almost all other pharaohs. Next to his statue was a large- fractured his skull, as well as several other visible wounds. scale translation of the "Hymn of Akhenaton," which, Despite a gruesome death and the uncompromising after close reading, stood out to me as one of the most passage of time, it remains intact. beautiful pieces of poetry I have encountered from the The NMEC is the latest addition to a trifecta of muse- ancient world. ums that will usher in a new era of tourism for Egypt. It The museum features a myriad of jewelry, pottery, certainly stands in its own right as a veritable embodi- mosaics, garments, ornate furniture, figurines, and all ment of the country's long and diverse heritage. manner of trinkets from the critical eras of Egyptian his- Admission is EGP 200 ($12.76) for ex-pats and foreigners tory. Exhibits range from early Coptic religious garments and EGP 60 for locals. The museum is open 9 a.m. to 5 and monastic doors to the last Egyptian-made kiswah p.m. daily, with extended hours of 6 p.m. to 9 p.m. on (the ornate covering of the Kaaba) from 1962 and mah- Friday. mal (the elaborate vessel holding the kiswah on its journey to Mecca) to an alabaster statue of a traditional female water bearer by Egypt's most acclaimed modern sculptor, Mahmoud Mukhtar (1891-1934).

Into the chambers After visitors complete the ﬁrst level and its crash course on the various eras of Egyptian civilization, they enter the chamber of mummies, a dimly lit underground collection of smaller viewing chambers connected by weaving passageways. The transition is a seamless passage down a ramp and through the archways of a mock pharaonic temple facade, leading into the section of the museum dedicated solely to the exhibition of the 22 astoundingly preserved mummies of some of the most extraordinary personalities in the pharaonic lineage. Viewing rooms for the mummies on display at the

44 VICE PRESIDENT, PROGRAMS PRESIDENT Amr Allam, H.A. CONSTRUCTION (H.A.C.) Tarek Tawfik, Cairo Poultry Group VICE PRESIDENT, LEGAL AFFAIRS PAST PRESIDENT EXECUTIVE VICE PRESIDENT Gamal Abou Ali, Hassouna & Abou Ali Law Offices Sherif Kamel, The American University in Cairo BOARD David Chi, Apache Egypt Companies TREASURER ADVISOR TO THE BOARD OF GOVERNORS EXECUTIVE VICE PRESIDENT Hatem El Ezzawy – PICO Group Hisham A. Fahmy Tarek Mohanna, MHR & Partners in Association with White & Case MEMBERS OF THE BOARD CHIEF EXECUTIVE OFFICER Ahmed Issa, Commercial International Bank (CIB) Sylvia Menassa VICE PRESIDENT, MEMBERSHIP Sarah El Battouty, ECOnsult Soha Ali, J.P. Morgan Chase Bank Sherif El Kholy, ACTIS

Healthcare Non-Banking Financial Institutions Chair: Ahmed Ezzeldin, CEO, Cleopatra Hospital Group Co-Chairs: Amr Abou El Azm, Chairman and CEO, Tamweely Microfinance COMMITTEE Co-Chairs: Ahmed Khalil, Senior Director Government Affairs & Policy, Hassan Hussein, Chairman, El Taamir Mortgage Finance – Aloula North Africa, Johnson & Johnson - Janssen Mounir Nakhla, CEO, Tasaheel Microfinance Co. LEADERS Tamer Said, General Manager Clinical Care Solutions – Africa, General Tarek Azmy, Managing Director and Board Member, Corporate Leasing Company Egypt 2020 – 2021 Electric (GE) Healthcare Oil & Gas HR (Talent Management) Chair: Amr Abou Eita, Chairman and Managing Director, ExxonMobil Egypt Agriculture and Food Security Chair: Emad Nasr, Human Resources Director, Lecico Egypt Co-Chairs: Colby Fuser, Vice President - Egypt and Libya, Halliburton Co-Chairs: Ahmet Ertürk, CEO, Soyven Co-Chairs: Ahmed Farid, HR Manager- MENA, Shell Egypt Karim Badawi, Egypt & East Mediterranean Region Managing Director, Hatem El Ezzawy, Managing Director, PICO Agriculture Maisa Galal, Human Resources Director, Nissan Motor Egypt Schlumberger Mohamed Ayman Korra, Chairman & CEO, Consukorra Nagla Kinawi, HR Director, Vodafone Egypt Telecommunications Karim El Dessouky, Vice President and General Manager, Bechtel Khaled Kacem, Chairman, Shell Egypt Mohsen ElBeltagy, Vice President, The Egyptian International Co. for Land Reclamation (Belco) Industry & Trade Co-Chairs: Alaa Hashim, Board Member, Giza Seeds and Herbs Pharmaceuticals Ashraf Bakry, Managing Director, Unilever Mashreq Chair: Yousri Nawar, Country Manager, Pfizer Biopharmaceutical Egypt Banking Co-Chairs: Christelle Saghbini, Chairman & Managing Director, Egypt Mohamed Shelbaya, CEO & Chairman, PepsiCo Chair: Ahmed Issa, Chief Executive Officer, Consumer Banking, Commercial & Sudan, Sanofi Tamer Hamed, Senior Vice President, P&G North Africa International Bank (CIB) Ramy Koussa, Managing Director, MSD Egypt Riad Armanious, CEO, EVA Pharma Co-Chairs: Akef El Maghraby, Vice Chairman, Banque Misr Insurance Mohamed Abdel Kader, Citi Country Officer, Citibank Chair: Alaa El Zoheiry, Managing Director, gig-Egypt Power Co-Chairs: Haitham Taher, VP, Managing Director, MetLife Egypt Chair: Khaled Hashem, President-North Africa, Honeywell Egypt Corporate Impact & Sustainability (CIS) Ayman Kandeel, Chief Executive Officer, AXA Egypt Co-Chairs: Mr. Ahmed Ramadan, Chief Executive Officer, Power Generation Chair: Randa Aboul Hosn, Resident Representative, UNDP Sherif El Ghatrifi, CEO, Medmark Insurance Brokerage Engineering and Services Company (PGESCo) Co-Chairs: Mireille Nessim, CEO, Takatof Association for Development Angelos Krasonis, Managing Director, Chubb Life Mai Abdelhalim, Executive Director, GE International Operation Sarah El Battouty, Chairman – Principal Architect, ECOnsult Samy AbdelKader, Managing Director, TAQA Power Shereen Shaheen, Public Affairs and Communications Director, Coca-Cola International Cooperation Wael Hamdy, Senior Vice President, Elsewedy Electric Atlantic Industries Chair: Walid Labadi, Country Manager, IFC International Finance Corporation Real Estate Co-Chairs: Denys Denya, Executive Vice President, African Export-Import Bank Customs & Taxation Chair: Mohamed Abdalla, Chairman, Coldwell Banker Affiliates of Middle Khalid Hamza, Deputy Head of Egypt, the European Bank for Reconstruction East & Greater Africa Chair: Hassan Hegazi, Chairman and Managing Director, Master Trading and Development (EBRD) Co-Chairs: Ahmed Shalaby, President & CEO, Tatweer Masr Co-Chairs: Hossam Nasr, Tax Partner, Allied for Accounting and Auditing - Magued Sherif, Managing Director, Six of October Development and Ernst & Young Investment and Capital Market Investment (SODIC) Roba Ali, Regulatory Affairs and Government Relations Manager, L'Oreal Egypt Co-Chairs: Hazem Badran, Co-CEO, CI Capital Holding Hossam Abou Mousa, Partner, ACTIS Transport and Logistics Digital Transformation Karim Awad, CEO and Board Member, EFG Hermes Holdings Chair: Marwan El Sammak, Board Member, Worms Alexandria Cargo Services Co-Chairs: Hoda Mansour, Managing Director, SAP Omar El Labban, Director & Head of Investor Relations, BPE Partners Co-Chairs: Abir Leheta, Chairman & CEO, Egyptian Transport & Commercial Khaled Abdel Kader, CEO, KlayyTech Services Co., SAE Reem Asaad, Vice President, Middle East & Africa, Cisco Ahmed El Fangary, Country Manager, DHL Express Legal Affairs Alfred Assil, CEO, Menarail Transport Consultants Wael Abdoush, General Manager, IBM Chair: Ahmed Abou Ali, Partner, Hassouna & Abou Ali Law Offices Tarek Fahmy, Chairman/CEO, Mediterranean Shipping Company Co-Chairs: Mohamed Serry, Managing Partner, Serry Law Office Education for Competitiveness Said Hanafi, Partner, MHR & Partners in Association with White & Case Travel and Tourism Co-Chairs: Deena Boraie, Vice President for Student Life, The American Co-Chairs: Haitham Nassar, General Manager – Hilton Pyramids Golf University in Cairo Marketing Resort, Hilton Worldwide Hashem El Dandarawy, Chairman, Team 4 Security Chair: Ahmed Rady, General Manager, Coca-Cola Atlantic Industries Karim El Menabawy, President, Emeco Travel Mohamed El Kalla, Managing Director, Cairo for Investment and Real Co-Chairs:Dina Aly, Managing Director and Co-Founder, Matter Moataz Sedky, General Manager, Travcoholidays, Travco International Holding Estate Development Nermeen Bedeir, Chief Client Officer - Kantar Insights, TNS Nelly El Kateb, VIP Account Manager, ASTRA Travel Shahinaz Ahmed, Country Director, Amideast Egypt Sarah Ibrahim, Marketing and Corporate Relations Director, Attijariwafa Bank Sherifa Issa, Senior Director of Marketing, Four Seasons Hotels and Resorts Egypt Women in Business Entrepreneurship & Innovation (EIC) Mining and Mineral Wealth Chair: Manal Hussein, Chairwoman, New City Developments Co-Chairs: Ayman Ismail, Founding Director, AUC Venture Lab Co-Chairs: Mostafa El Gabaly, Managing Director, Abo Zaabel Fertilizers Co-Chairs: Ghada Fouad, Director of Corporate Affairs, MARS Moataz Kotb, Managing Director, CultArk & Chemicals Co. Nahla Kamel, Head of Corporate Affairs, Nestlé Egypt Mohamed Rahmy, Managing Director, Endeavor Egypt Muhammed Zaher, CEO, Real Mining Services Passant Fouad, Head of External Communication, Juhayna Food Industries Co.

American Chamber of Commerce in Egypt – Tel: (20-2) 3333-6900 – Fax: (20-2) 3336-1050 For more information about AmCham services and news, please visit www.amcham.org.eg or our US mirror site www.amcham-egypt.org Events

Annual General Meeting Celebrating the future, honoring the past

With a history spanning seven decades, the Ameri- greatly reduced that number in 2020 because of can Chamber of Commerce in Egypt is the oldest the pandemic." business association in the country. In 2021, the Nevertheless, the ministry made two "major" dis- chamber begins its eighth decade with a new board coveries. In November, 150 sealed colored sarcophagi and president. with mummies intact, figurines, and other acces- It was only fitting to organize the organization's an- sories were found. "It ranked among the top 10 dis- nual meeting at the new National Museum of Egyp- coveries in the world," said the tourism minister. "We tian Civilization, which President Abdel Fattah el-Sisi made another discovery. We will reveal it in Sep- opened in April. The Golden Parade marking the oc- tember. That opening will be bigger than the May casion was the talk of the world. announcement." Speaking at the event was Minister of Tourism and Throughout the past 18 months, Anany inaugu- Antiquities Khaled El Anany, who highlighted his rated the Fath Mosque in Abdeen Palace, the syn- ministry's work in 2020 and plans for the coming two agogue in Alexandria, and the first museum in years. "Last year was a tough one because of the pan- cooperation with the private sector in Hurghada. "We demic," said Anany. "But we had a lot of events and will share the revenue from the Hurghada museum announcements, and tourist visits have rebounded with the owners for 15 years," Anany explained. He quickly." also opened the first cultural museum in Sharm El Sheikh and a new one in Boulak. "Of course, our New openings and discoveries most important opening recently was the National In 2019, the tourism ministry conducted 300 ar- Museum of Egyptian Civilization," he said. "The chaeological missions. "It was the most Egyptian parade took 18 months to come to fruition." missions we've ever had," said Anany. "However, we Anany also talked about restoring the first stone

46 Events

47 Events

construction in Sakkara and the Baron Empian after the roof caved in. The New Administrative Capital Palace in Heliopolis, which cost EGP 150 million will feature a museum telling the story of Egypt's cap- ($9.5 million). itals and why they frequently changed. Then there is Also, in the past 18 months, the ministry opened the opening of The Sphinx Avenue in Luxor, a 2.7 kilo- two mini museums in Terminal 2 and Terminal 3 at meter that connects Luxor and Karnak temples. "This is Cairo International Airport and inaugurated Kenouz, where our next major parade event will take place. We the ﬁrst authorized complex selling locally made are negotiating with organizers," said Anany. Other mu- handicrafts. "We aim to ensure that all bazaars are seums scheduled to open in the coming months in- selling products made in Egypt," said Anany. clude the Greek-Roman Museum, which closed in 2018. The Ministry of Tourism and Antiquities also is As for the GEM, Anany said they would complete the changing its operations model by relying heavily on museum by the end of this year. "However, the decision the private sector for its new projects. "We are out- to open it to the public is not my call," said Anany. "It sourcing facility management of all our projects to will be by far the biggest opening Egypt has witnessed, the private sector," he explained. So far, Orascom Con- inviting heads of state to witness the inauguration of struction is managing the Giza Plateau, where the the biggest museum in the world dedicated to a single ﬁrst restaurant in the project recently opened. Has- civilization." san Allam Developments will manage the Grand Anany said the GEM, the National Museum of Egyp- Egyptian Museum (GEM). tian Civilization, and the old Tahrir Square museum would each have a unique role in telling Egypt's history More to come to visitors. "The Tahrir museum will not die," he stressed. By the end of the year, Anany said, the ministry will re- "It will continue to be an important landmark and open the Mohamed Ali museum, which closed in 2013 destination for tourists."

48 Events

Tourists boom In 2019, Egypt witnessed the highest number of in- vaccinated all staff working in hotels in Egypt," he bound tourists (13 million) and revenue ($13 billion). said. "We also give a stamp of approval to hotels In January and February 2020, tourism was up that meet the ministry's cleanliness, hygiene and more than 8% to nearly 950,000 a month. "I was safety standards." Currently, 800 out of 1,2000 facil- struggling to find enough rooms for visitors," noted ities have received that accolade. Anany. Anany expects tourism to recover quickly, as the However, the lockdown meant tourist visits went to zero between April and June. Since then, numbers indicate. "Egypt has a lot of treasures," he they have recovered, reaching 525,000 in April. said. "And at the ministry, we have big plans to Nearly 65% went to beach resorts. The numbers showcase them to the world, putting Egypt high will continue to improve, said Anany. "In April, we on the list of must-see destinations."

49 Events

Special Briefing and Discussion Minister outlines most recent reforms

FY 2018/2019. With no pandemic, the deficit would have reached 82.8% this fiscal year. "We lost EGP 370 billion ($23.6 billion) in revenue because of the lockdown," said Maait. "Also, we had to spend more on stimulus packages and invest more in the economy." The IFC, World Bank, and EBRD commended the government for maintaining the balance between citizens' lives and livelihoods. "The IMF report published in October showed that we used a minimum amount of stimulus to create the most economic impact," said Maait, adding that Egypt was the eighth most improved country in government effec- tiveness in the latest World Bank report. Egypt was the only country in the Middle East and Africa to retain a "stable outlook" rating from all three sovereign-rating agencies. "They attributed that to the domestic market absorbing the shock," said Maait. The minister stressed that the balanced strategy would continue. "We will have four main objectives next fiscal year," Maait said. They are: supporting manufacturing and exports, maintaining fiscal dis- cipline and sustainable government debt, promoting social projects, and focusing on human capital development. The government aims to increase revenue in FY "COVID-19 has put us under pressure to design and 2021/2022 by 22.2%, compared to 16% last fiscal year. implement policies to address the fallout from lock- While expenditures will increase 13.8%, the FY ing down the economy," said Mohamed Maait, Min- 2019/2020 deficit is expected to decline from 7.8% to ister of Finance, during a webinar on April 27. "Before 6.7% by the end of the next fiscal year. Lastly, the the pandemic, Egypt's economy was growing at an budget's primary surplus should be 1.5%, up from excellent pace, forecasted to reach 6.5% by the end the current 0.9%. "We will work to maintain the of the next fiscal year." budget deficit to between 88% and 90% of GDP," Maait emphasized the damage COVID-19 caused, said Maait. saying Egypt's economy would have grown 5.6% in Projects to support local businesses include allocat- fiscal year (FY) 2019/2020 and 5.8% this fiscal year. ing EGP 4.2 billion to export subsidies, compared to "We could have even been targeting a 6.5% growth paying EGP 6 billion last year. Automotive exporters rate in FY 2021/2022," Maait said. also would get additional support, Maait said. The However, the pandemic resulted in GDP growth government aims to replace 70,000 cars that are 20 reaching 3.6% FY 2019/2020 and 2.8% in FY years old or more with locally assembled ones pow- 2020/2021. "We are one of the few countries whose ered by natural gas. "Buyers get subsidies ranging economies grew and grew at a reasonable rate," from 10% for passenger cars to 25% for microbuses," stressed Maait. Maait said. On the plus side, Maait said government policies He highlighted some goals his ministry aims to helped maintain a primary balance surplus of 0.9% achieve by FY 2023/2024. They include reducing inter- by the end of this fiscal year. That compares to a pro- est payments as a percentage of GDP from 10% to jected 2% before the pandemic. 6.9% and as a percentage of the overall budget from The budget deficit in FY 2019/2020 (87.5%) and FY 40% to 30%. "I think we can maintain interest rates at 2020/2021 (89.8%) are below the 90.2% recorded in under 5% of GDP and 25% of the budget," said Maait.

50 Events

Women in Business Tech executives discuss challenges for women On April 28, AmCham's Women in Business Committee hosted a webinar titled "Women's Journey in Technical Fields." Guest speakers included Celine Bremaud, vice president of sales, marketing and operations for Micro- soft Middle East and Africa; Raeda Al Sarayreh, director working in those fields, it drops to about 10%." of communications at Nissan Motors Limited - Africa, Bremaud noted that might change as companies Middle East, India and Oceania; and Sabine Holl, vice pursue diversification to encourage innovation, adding president of technology sales and chief technology of- that women have prominent roles as lawmakers and ficer at IBM Middle East and Africa. policy influencers. That allows them to promote The speakers discussed male dominance in science, women's inclusion across sectors. technology, engineering and math, making it difficult Holl emphasized the need for companies to have pol- for women to prove themselves and advance their ca- icies to promote women's inclusion. "From a company reers. Challenges include unfriendly work policies, labor perspective, it has to be a formal priority with the lead- laws, cultural issues and misconceptions about ership team on board and a matrix of success," she said. women's ability to perform, especially mothers. Al Sarayreh agreed, stressing such policies must be "We don't have a shortage of women STEM gradu- enacted from the top down. ates," said Al Sarayreh. "Across the Arab world, 30% to Holl also highlighted the importance of mentors, 40% of women graduate from STEM [schools]. That is sponsors, and allies to the career development of higher than ... in the West. However, when it comes to women.

51 Member News

Chevron Neptune Energy

Caltex Lubricants’ new VARTECH ISC brings ad- Neptune Energy announced it has received vanced technology to remove varnish buildup in upgrades to its environment, social and gov- oil systems. “Recognizing that industrial operators ernance (ESG) and credit ratings. In its latest have long been aware of the potential damage ESG rating review from Sustainalytics, Nep- from varnish ... our goal is to encourage customers tune received a score of 26.1, putting it in the to see that this issue can actually be managed.” top 3% of all exploration and production com- said Douglas Rankine, GM, Finished Lubricants, panies rated by the organization, with a global ME/Africa. Customers tried VARTECH ISC on GE ranking of 5th out of 169. The company's ESG- and Solar turbines. VARTECH ISC helped restore a related issues are overseen by the ESG Com- major U.S. customer’s equipment by removing mittee, suggesting that these are integrated varnish from its turbine oil coolers, thus returning in core business strategy. The company's over- the turbine oil coolers to maximum productivity for an annual revenue gain of over US$350,000. all management of material ESG issues is strong.”

RAYA Contact Center The GSI Group, LLC

Celebrating Raya’s development role and activ- Egypt is one of the main importers and consumers of grains worldwide, with vast experi- ities within its framework of social responsibility, ence in grain handling and storage. The and afﬁrming Raya’s humanitarian efforts, Tariq increasing demand for storage capacity al- Center for Rehabilitation and Autism in the lowed Cimbria to complete several silo projects United Arab Emirates has announced that Raya in the country, contributing a total of 2.5 mil- Contact Center – Dubai, a subsidiary of Raya lion tons of wheat storage and processing to Holding for Financial Investments, was chosen Egypt’s food infrastructure. It is also training this year to win the title of “Ambassador of Hope” personnel on managing those new silos. The in Zayed Humanitarian Day, that is celebrated project aims at maintaining a high-quality annually on 19th of Ramadan. It comes as a part education of the silos staff in the execution of of the ﬁfth course of Zayed giving campaign for the daily tasks and for any future perspective. E-Assessment for Autism, organized by Tariq The increased staff maintenance skills will ex- Center for Rehabilitation and Autism. tend the silos’ longevity.

52 New Members

Consultancy Information Technology

Basilinna Interact Technology Solutions Yasser Elnaggar Moheb Samir Senior Advisor Chairman

Address: 4164 Crescent Court, Address: Part 7, Block S67, El-Shatr El- Naples, Florida Membership Membership Aashr (Tenth District), Zahraa El Maadi Website: www. basilinna.com Type: Type: Website: www.interactts.com Tel: (00-1) 773-391-2808 Associate Associate Tel: (20-2) 2598-9000 Fax: (00-1) 02023710416 Non-Resident Resident

Consultancy Investment

Development Alternatives Inc-DAI ElSewedy Capital Holding Omar Abdallah Haytham Sabry Deputy Chief of Party- USAID Funded Group CEO

Economic Governance Activity Address: Plot 77, First Sector, 5th

Settlement, New Cairo Membership Address: 47 Ofﬁce Building, Floor 6, Membership Tel/Fax: (20-2) 2673-0080 Type: North Teseen Street, 5th Settlement, Type:

Not-for-Proﬁt New Cairo Associate

Tel : (00-1) 301-771-7600 Resident Website: www.dai.com

Food & Beverages Insurance

Fish Basket AXA Africa Health S.A.E Ali Elhaddad Khaled El Shaarany Chairman CEO of AXA OneHealth

Address: 5 El-Orouba Street, Heliopolis Address: Plot N.15, Administrative Membership Tel: (20-2) 2690-4263, 2417-5427 Membership Building Twin Towers, Left Building, Type: Fax: (20-2) 2417-5428 Type: Floor 1, 5th Settlement, New Cairo Associate Associate Tel : Hotline: 15293 Resident Resident Website: www.axaonehealth.com

For any change to contact information, please contact the Membership Services Department at the Chamber’s ofﬁce Tel: (20-2) 3333-6900, ext. 0016 Fax: (20-2) 3336-1050 E-mail: [email protected]

53 New Members

Afﬁliate Members

Consultancy Insurance Nouran Allam Peter Ignits Communications Ofﬁcer, John Snow Inc. Deputy CEO, AXA Africa Health S.A.E

Khaled Zakaria Amin Nada Rashed Economic Governance Lead Advisor, Development HR Director, AXA Africa Health S.A.E

Alternatives Inc-DAI Emad Shawky Taher El Sherif Chief Financial Ofﬁcer, AXA Africa Health S.A.E Private Sector Engagement Senior Advisor, Development Alternatives Inc-DAI Legal Services

Frederic Khadr Hermann Thiel Managing Partner, Soliman, Hashish & Partners Chief of Party – EGA, Development Alternatives Inc-DAI Petroleum Food & Beverages Kristian Svendsen Country Manager- Egypt (Upstream), Chevron Sameh Ramadan Egypt Lubricants Chief Operating Ofﬁcer, Kazyon- Tawfeer for Food

Products, S.A.E Power Financial Sector Hassan El-Ardy Kamila Batarseh Power Systems VP, Schneider Electric

Head of Human Resources, Arab Bank Real Estate Information Technology Ahmed Keshka Magdy Ahmed Executive Director Commercial, City Edge CFO, Telecom & Technology Co. (TeleTech) Developments

New Replacements in Member Companies

Mohamed Salah Elbahnasy Category: Associate Resident Deputy Chief Executive Ofﬁcer (DCEO), The Egyptian Operating Sector: Petroleum Company for Natural Gas Liquefaction Projects, SAE (Egyptian LNG)

Tariq Zaghloul Category: Multinational General Manager, CMA-CGM-Egypt Sector: Transportation

Soha Fouad Category: Afﬁliate Director of HR, CMA-CGM-Egypt Sector: Transportation

54 New Members

Change is Member’s Category:

Karim El-Dessouky Vice President & General Manager, Bechtel Overseas Corporation Category: General • Sector: Consultancy

Tarek Said CEO, Arab Engineering & Distribution Company SAE Category: General • Sector: Power

Condolences

A number of long-standing AmCham Egypt members have passed away in recent weeks. On behalf of the Chamber’s fellow members, Board of Governors and staff, we extend our deepest condolences to the family and friends of these recently departed members.

Emad Ragheb, Chairman, Vision for Investments and General Trading, joined the Chamber in 1995 and was active in representing the accounting sector.

Ahmed Bahgat, President, Bahgat Group, joined the Chamber in 1996 and was active in representing the real estate sector.

Sherine Wally, Technical Director, Petroleum Indus- trial Consultants, joined the Chamber in 2003 and was active in representing the consultancy sector.

They will all be dearly missed. May they rest in peace.

55 Media Lite

A Glance At The Press

Bank official: “The report here says that you are unlucky with money, and that you likely will stay poor, so I am sorry but we can’t give you a loan…”

Al Masry Al Youm, May 31

Media Lite collates a selection of some the most entertaining offbeat and lighthearted news items published in the local press. All opinions and allegations belong solely to the original source publications and no attempt has been made to ascertain their veracity.

Egyptian comedian Samir Ghanem passes Sawiris Cultural Awards winners away at 84 The Sawiris Foundation for Social Development announced Egyptian comedic superstar Samir Ghanem passed away at 84 the winners of the 16th Sawiris Cultural Award on May 21. from COVID-19 on May 20. The beloved actor was hospitalized This edition is the largest in its history, with 1263 literary works since April 30 from an escalation of a COVID-19 infection. submitted to the award's various categories. The father of actresses Amy and Donia Samir Ghanem and This year, 12 young and established writers received awards husband to the famous actress Dalal Abdelaziz, Ghanem im- for their outstanding work in the novel, short story, screenplay, mensely contributed to shaping Egypt's entertainment culture. playwriting, and literary criticism categories. From his famous character 'Fatouta' to his theater plays to Iman Yahya won the best novel award - under the established being a member of the comedy trio 'Tholathy Adwa' El-Masrah' writers' contest - for her novel Al-Zawga Al-Mexicia (The Mexican alongside El-Deif Ahmed and George Sidhom. Wife), published by Dar Al-Shorouk. Meanwhile, the award for The trio starred in many black-and-white movies in the 1960s, the best short story collection, written by an established writer, such as 30 Youm Fi El-Segn (30 Days in Prison) and El-Zawag went to Samir El-Fil for his collection Autobis 77 (Bus Line 77) Ala El-Tarika El-Haditha (The Modern Way of Getting Married). that the Egyptian General Book Authority published. Ghanem was known for his love for theater. "The happiest mo- The award for the best novel written by a young writer and ments of my life are when the hall is full of people who have the translation award went to Ahmed Al-Fakharany for Baya- come all the way to watch me and they are genuinely laughing sat Al-Shawam published by Dar Al-Ain. The literary award at my jokes," said Ghanem to Vogue Arabia in November 2019. includes translating the winning novel into English, covering Born in 1937, Ghanem started acting in movies in the all contracting costs with a publishing house for the book's 1970s. His works included Viva Zalata, Hassan Beh El-Ghal- translation, printing, and publishing. ban (Poor Mr. Hassan), and Yarab Walad (God, Make It Boy), The first-place prize for best short story collection made by a among several other Egyptian blockbusters. He also acted in young writer went to Gilan Al-Shamsi for 'As If the Story is Missing' famous theater plays, including Al-Motazawogoon (The Mar- published by Al-Ain Publishing House. In second was Muham- .ried Couple) and ِAkhoya Hayes Wana Layes (My Brother Is mad Faraj for 'Long Term Plans' published by Dar Al-Ain Happy and I Am Lost). For the best screenplay, established writer Samar Taher won "I believe that comedians should continue to work until the for her work in Al-Nazeel (The Inmate), while Paula Tadros Thabet last day of their lives, not because they need the money but won the young writers' contest for his screenplay of Abdullah. because standing in front of the audience is a luxury in itself," In playwriting, the first-place award went to Faisal Rizk for his stated Ghanem to Vogue Arabia in November 2019. work in Hakawy Al-Aragouz (Tales of the Puppet). Egyptian Streets, May 20 Al Ahram, May 22

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