Author: Ola Noureldin

Aleya Serag El-Din, executive director at Ghabbour Foundation, was astonished by the number of private school graduates applying for vocational training. “This is a measure of how society’s perception is starting to change,” she says. “Vocational education does not mean students are less worthy or less skilled. It’s actually the opposite.” In a bid to address a chronic shortage of key job skills, Egypt’s Education Ministry (METE) is asking the private sector to help develop a more robust vocational education system. Egypt is setting up a program to attract private sector investment in establishing 100 vocational schools by 2030. The…

A recent Colliers International research shows that social infrastructure — open spaces, retail, restaurants, healthcare, education and other commercial activities — has a tangible positive impact on real estate demand. In Cairo and across the region, schools remain a key catalyst for increasing sale prices and rental rates of residential properties. According to the Centre for Economic Performance at the London School of Economics, academically strong schools boost neighborhood property prices by as much as 12%. Cairo communities can achieve a 15% premium by offering quality private schools, with tuition and fees in line with local income levels. Egypt has…

“I want my 7-year-old daughter to look up to me and know that regardless of her number on the scale, she will still be beautiful,” says Hala Hassan, a former sales executive at a hotel booking agency for expos in the United States and Europe. Hassan, 27, lost her job in June due to the pandemic, paving the way for her ultimate passion: an online size-inclusive clothing business. “I aim to meet the needs of all plus-size girls and women in Egypt, for my platform to feel like a home for them,” Hassan says. “Most importantly, to keep them on…

Egypt is home to an emerging microinsurance market of 27 million people, representing 39 percent of the working population, according to Atlas Magazine. Earning $5-15 a day, the vast majority of this segment is unbanked and unfamiliar with insurance products, but new regulations are encouraging insurance companies to expand their services. Microinsurance is one of the major tools of microfinance, according to a report by Japan’s International Cooperation Agency (JICA). The International Association of Insurance Supervisors defines microinsurance as accessible by low-income people “run in accordance with generally accepted insurance practices.” In Egypt, there is a strong potential for growth…

Surfing TV channels or scrolling through social media, consumers have been hit with one message since the beginning of the year: Stay home, stay safe. As much as that piece of advice was essential for containing COVID-19, it has hurt the global hospitality industry. Since March, Orascom Hotels Management, Four Seasons Hotels and Resorts, the Ramses Hilton, and other Egyptian properties have seen occupancy rates and revenues collapse. That has forced management to rethink strategies. According to Colliers International’s MENA Hotels Quarterly, occupancy rates in Cairo have nosedived 67 percent year-on-year in 2020. Hurghada rates are down 57 percent, Sharm…

For 15 years, Nasr City resident Ali Rizkallah, 35, has used several banking instruments and made digital transactions at grocery stores and malls. Mohamed Dawoud, 42, who lives on the same street, relies solely on cash transactions. Dawoud is not alone: 67 percent of Egypt’s population is unbanked, according to the World Bank. In a country where state employees knock on doors to collect cash for gas and electricity bills, the government wants to change that. The Central Bank of Egypt (CBE) has pushed lenders to offer universal access to digital payments, mobile wallets, and other financial services. Of the…

As one of the seven wonders of the ancient world, the Giza Pyramids have fascinated visitors for millennia. But as the coronavirus pandemic laid waste to Egypt’s tourism industry and millions of people’s livelihoods, the monuments and surrounding area resembled a ghost town. This year was supposed to be a blockbuster for tourism. The Grand Egyptian Museum (GEM) was to open after nearly two decades in the making.  With the introduction of e-visas, the opening of a new airport in Giza and new domestic flights between Sharm El Sheikh and Luxor, it’s easier than ever to get around the country.…

Bothaina Adham, 28, normally spends early September buying notebooks and take-home folders to plan English lessons for her 100-plus high school students at an international school in eastern Cairo. This year, Adham neither stocked up on supplies nor had time to prepare lesson plans. Instead, she spent her time becoming more tech-savvy to adapt to a new virtual teaching environment. Education Minister Tarek Shawki released guidelines for reopening public and national private schools on October 17, leaving it to school administrators to decide what the hybrid academic year would look like. International schools were allowed to start earlier if they…

While the human cost and economic disruptions of the COVID-19 have created shock waves around the world, pharma industry executives have focused on maintaining a steady supply of vital medicines and innovation. Other sectors have been more threatened financially, but the business challenges facing pharma are urgent, such as ensuring that supply chains function so patients can get prescriptions filled and remain on critical therapies. As the coronavirus accelerates worldwide, passing 21 million infections on August 17, several countries started to reimpose lockdown measures over concerns about the second wave of infections. Egyptians are no less worried. Figures from August…

The Sovereign Fund of Egypt (SFE) is in talks with unidentified investors from Senegal and Uganda with an appetite for fintech services, fund CEO Ayman Soliman said at a June 8 virtual press conference. The fund is finding renewed interest in sectors that would enhance financial inclusion in Egypt. “Investments in financial technology (fintech) are no longer a luxury,” said Soliman, adding the fund has adjusted its investment priorities to include food, pharmaceuticals, healthcare, and financial inclusion services. Healthcare, in particular, will require “significant investment” going forward, he said. The SFE, established in 2018, will create four subfunds covering the…