Egypt’s history and economy have always centered around the Nile’s fresh water and fertile mud. In 2024, the country was the world’s largest exporter of oranges and fresh strawberries. It was the third-largest global exporter of dried onions, fifth for potatoes, and seventh for fresh onions, frozen strawberries, and garlic, according to World’s Top Exports, a data aggregator. It was also the top exporter of mangoes in the Arab world and second in Africa. Other noteworthy exports include pomegranates and sweet potatoes. In fiscal year (FY) 2023/2024, the value of exported agricultural products accounted for 14% of Egypt’s total non-oil…
Author: Tamer Hafez
For business leaders, having a harmonious workplace where everyone can perform to their maximum potential is a long-standing ambition. One way to achieve that goal is to build a dignity-first business environment. “Our universal yearning for dignity drives our species and defines us as human beings,” Donna Hicks said in her book, “Leading With Dignity.” “It’s our highest common denominator.” Despite its importance, “we know so little about it,” Hicks stressed. “Although we are all born with dignity, we are not born knowing how to act in accordance with this truth. Learning how to honor dignity doesn’t come naturally; it…
Health security is a massively critical topic for African governments, as the continent “has 24% of the world’s disease burden,” according to African Mission Healthcare, an NGO. Jean Kaseya, director general of the Africa Centers for Disease Control, told the IFC that promoting local pharmaceutical manufacturing represents “the second independence of Africa.” The first was liberation from colonial occupation. That disease burden stems from Africa being the poorest continent, and that “many sub-Saharan countries rely heavily on imported pharmaceuticals, which can be prohibitively expensive … meaning that many people cannot access the treatments they need,” noted Africa Mission Healthcare. Additionally,…
For Egypt-based pharmaceutical producers, the global pharma market and supply chains are crucial for the industry’s future. From 2020 to 2024, the local pharmaceutical trade value (imports plus exports) increased by nearly 25%, according to Central Bank data, reaching almost $5 billion. That trade volume will increase significantly by 2030 as the government aims to raise exports from $811 million in 2024 to $1.2 billion in 2025, $1.4 billion in 2026, and $3 billion by 2030. That will inevitably lead to more imports, as Egypt has been importing five to seven times more than it exports since 2020 (excluding 2021,…
Pharmaceutical availability has long been an essential part of governments’ attempts to ensure health security. The Middle East is proving a “new epicenter of growth, a powerful engine driving the future of global health,” noted Drug Patent Watch, a research platform, in July. For Egypt, where locally produced medicines exceed domestic demand (The country enjoys over 91% medicine self-sufficiency, based on government data), there is a significant opportunity to export to the six GCC countries. The big markets are Saudi Arabia, the UAE, and Kuwait, noted a report from Ardent Advisory, a financial advice firm specializing in mergers and acquisitions.…
Egypt’s pharmaceutical industry is in flux. In 2024, revenue increased 42% compared to 2023, according to IQVIA, a medical think tank. Most of those sales were locally made products that accounted for 91% of local demand, according to government data. That increase in sales revenue is a result of pharma companies raising prices after receiving government approval rather than volume growth. According to IQVIA, units sold fell 3% in 2024. For 2025 and beyond, new factors will come into play thanks to the government’s commitment to creating a friendly business environment for pharmaceutical producers. “Egypt is already one of the…
Almost 17 years later, the 2008 global financial crisis remains a warning of what can happen when investors, banks, and regulators overlook the risks of a game-changing advantage. Back then, it was that house prices would continue rising, fueled by the expectation the global economy would grow indefinitely. In 2025, it’s the expectation that artificial intelligence (AI) and generative AI (GenAI) will bring never-ending significant benefits to the financial sector. “In the dynamic world of financial services, AI [and] GenAI [have] become a linchpin of transformative change, redefining the operation and strategic horizons of the banking sector,” Kostis Chlouverakis, EY…
As Microsoft co-founder Bill Gates framed it in 2010: “The Internet is becoming the town square of the global village of tomorrow.” By extension, social media platforms, including Facebook, Instagram, and TikTok, are the hangout spots surrounding that “town square.” That image is starting to come apart as countries follow the EU, the United States, and China in introducing laws limiting digital data exchange between local companies and residents with the outside world. Those policies and accompanying narratives refer to “digital sovereignty.” “Over the past decade, the notion of digital sovereignty has emerged as a central theme in policy discussions…
Scaling up a local startup to ensure its survival and success can be nearly impossible. According to Egypt Innovate, a think tank owned by the Ministry of Communication and Information Technology, “[The] grim reality [is that] eventually, 90% of startups bite the dust, and 51% of all businesses [that survived] die off within five years.” Verne Harnish, a serial entrepreneur, in his book “Scaling Up: How a Few Companies Make It … and Why the Rest Don’t,” explores the “paradox of growth” and challenges facing entrepreneurs. Growth fundamentals Scaling up a startup begins with changing the mindset of senior leaders.…
Since its commercial availability in 2009, underpinning Bitcoin, blockchain technology has become increasingly vital in a growing range of domestic and cross-border transactions, providing safety, speed, transparency, and (for better or worse) a means to bypass government regulations. “Its design reduces the risk of fraud and errors, making it especially valuable in industries where secure transactions are critical,” said IBM’s blurb on blockchain technologies. “Additionally, blockchain helps businesses improve efficiency and reduce costs by streamlining processes and enhancing accountability.” Egypt adopts a split stance on blockchain technology. While the law strictly prohibits using it for cryptocurrencies like Bitcoins, it mentions…