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Making It

A Entrepreneurship , Business and Technology podcast

#28 in Entrepreneurship · 🇳🇬 #104 in Entrepreneurship · 🇵🇰
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About the show

Six days a week, we help top executives make sense of the Arab world’s companies and economies — and every Thursday, our editor-in-chief, Patrick, talks shop with the people who run them.  Making It is an hour where the founders, CEOs, investors, and policymakers making the biggest decisions in our region show their work and talk about what’s next.  From EnterpriseAM, the Arab world’s business daily.

Newest episodes

On financial freedom and growing Thndr with Ahmad Hammouda

1 hr 6 min

When does a startup stop being a startup and make its way over to the big leagues? On this episode of Making It, Ahmad Hammouda, the co-founder and CEO of Thndr, joins Patrick to break down the vision that turned Thndr into the financial heavyweight it is today. “We’re building a movement,” says Hammouda, one that rests on three pillars: flexibility, a 10X growth plan, and a happy customer who has options. Hammouda starts by mapping out what Thndr is today, walking us through the pivots that helped him reach profitability, all while staying focused on two things: nurturing a culture of investment, and proving that building and managing one’s own portfolio is a lot easier than it sounds. He also talks about India as a benchmark for scaling regionally, and weighs in on the push-pull between banks and NBFIs. Hammouda questions whether some investment instruments (CDs, for example) are outdated, and whether a society that embraces buy-now-pay-later tools to the hilt, as Egypt has, is, in a way, embracing a form of “modern slavery.” Sign up to our newsletter to get Making It in your inbox every Thursday. See omnystudio.com/listener for privacy information.

The human factor in AI with Prof. Sherif Kamel

51 min

What should we be teaching our kids in the age of AI? What should we be changing on the policy-level nationwide, and where do we start?  On this episode of Making It, Professor Sherif Kamel joins Patrick for another AI deep dive, zooming into how the technology is taking shape in our classrooms.  Sherif is the Dean of the Onsi Sawiris School of Business at the American University in Cairo (AUC). He sits on the board of the Central Bank of Egypt, and he's served on boards including CIB and the Egyptian American Enterprise Fund. As someone who’s witnessed and led Egypt’s adoption of the personal computer, the internet, and the mobile internet, Sherif has a unique outlook on the AI-fueled moment we’re living in. We discuss the acceleration of tech, how humans have always been central to its development, how AI is used in education today — particularly at AUC — and the trade-off we have to make when we adopt AI as a thinking tool.  He also shares his views on what governing AI on the state-level could look like, the affordability of these tools, and how, given everything, learning institutions should instill the future generation with the skills that will enhance their “complex problem-solving, ambition, curiosity, forward-thinking, communication.”  Sign up to our newsletter to get Making It in your inbox every Thursday. See omnystudio.com/listener for privacy information.

Gourmet’s Dalia Sultan built a one-of-a-kind kitchen, how does it work?

49 min

How do you help build a brand as successful as Gourmet without really knowing much about food? On this episode of Making It, Patrick talks shop with Dalia Sultan, Chief Innovation Officer at Gourmet Egypt, and the force behind the "Handcrafted by Gourmet” label. A banker by trade, Dalia was thrust into the business of food by chance. She starts off by talking about her early days at Gourmet, moving from marketing to product to ushering the company’s leap into manufacturing, alongside her brother Amgad. She speaks about where she gets inspiration for recipes, how ideas reach the shelf, what it takes to control quality, the struggle that comes with training a team that many in the industry want to poach, and how she sees robots in a not-so-distant kitchen. Dalia also opens up about the challenges of working with her partner for several years, how they overcame the hard stuff, and what the next steps are for both the company and her family. Sign up to our newsletter to get Making It in your inbox every Thursday. See omnystudio.com/listener for privacy information.

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All episodes

On financial freedom and growing Thndr with Ahmad Hammouda

1 hr 6 min

When does a startup stop being a startup and make its way over to the big leagues? On this episode of Making It, Ahmad Hammouda, the co-founder and CEO of Thndr, joins Patrick to break down the vision that turned Thndr into the financial heavyweight it is today. “We’re building a movement,” says Hammouda, one that rests on three pillars: flexibility, a 10X growth plan, and a happy customer who has options. Hammouda starts by mapping out what Thndr is today, walking us through the pivots that helped him reach profitability, all while staying focused on two things: nurturing a culture of investment, and proving that building and managing one’s own portfolio is a lot easier than it sounds. He also talks about India as a benchmark for scaling regionally, and weighs in on the push-pull between banks and NBFIs. Hammouda questions whether some investment instruments (CDs, for example) are outdated, and whether a society that embraces buy-now-pay-later tools to the hilt, as Egypt has, is, in a way, embracing a form of “modern slavery.” Sign up to our newsletter to get Making It in your inbox every Thursday. See omnystudio.com/listener for privacy information.

The human factor in AI with Prof. Sherif Kamel

51 min

What should we be teaching our kids in the age of AI? What should we be changing on the policy-level nationwide, and where do we start?  On this episode of Making It, Professor Sherif Kamel joins Patrick for another AI deep dive, zooming into how the technology is taking shape in our classrooms.  Sherif is the Dean of the Onsi Sawiris School of Business at the American University in Cairo (AUC). He sits on the board of the Central Bank of Egypt, and he's served on boards including CIB and the Egyptian American Enterprise Fund. As someone who’s witnessed and led Egypt’s adoption of the personal computer, the internet, and the mobile internet, Sherif has a unique outlook on the AI-fueled moment we’re living in. We discuss the acceleration of tech, how humans have always been central to its development, how AI is used in education today — particularly at AUC — and the trade-off we have to make when we adopt AI as a thinking tool.  He also shares his views on what governing AI on the state-level could look like, the affordability of these tools, and how, given everything, learning institutions should instill the future generation with the skills that will enhance their “complex problem-solving, ambition, curiosity, forward-thinking, communication.”  Sign up to our newsletter to get Making It in your inbox every Thursday. See omnystudio.com/listener for privacy information.

Gourmet’s Dalia Sultan built a one-of-a-kind kitchen, how does it work?

49 min

How do you help build a brand as successful as Gourmet without really knowing much about food? On this episode of Making It, Patrick talks shop with Dalia Sultan, Chief Innovation Officer at Gourmet Egypt, and the force behind the "Handcrafted by Gourmet” label. A banker by trade, Dalia was thrust into the business of food by chance. She starts off by talking about her early days at Gourmet, moving from marketing to product to ushering the company’s leap into manufacturing, alongside her brother Amgad. She speaks about where she gets inspiration for recipes, how ideas reach the shelf, what it takes to control quality, the struggle that comes with training a team that many in the industry want to poach, and how she sees robots in a not-so-distant kitchen. Dalia also opens up about the challenges of working with her partner for several years, how they overcame the hard stuff, and what the next steps are for both the company and her family. Sign up to our newsletter to get Making It in your inbox every Thursday. See omnystudio.com/listener for privacy information.

The road to an IPO with BdC’s Hussein Abaza

56 min

Banque du Caire is going public in a landmark IPO.  On this episode of Making It, Hussein Abaza, the CEO of Banque du Caire, joins Patrick to take us through the strategy behind the sale. Hussein is a legend in the banking community; he’s the former CEO of CIB and has long been a spokesperson for Egypt among international investors. In the first half of the episode, Hussein tells us about how BdC moved away from the typical state-owned lender model to an institution that he believes now operates as a private bank. We then get into the IPO itself: why now, how it’s structured, his pitch to international investors, how BdC makes money, and the indispensable value of its nationwide network of 200+ branches. Abaza also makes the case for treating NBFIs as partners, not competitors. And finally, he offers sound insight into what the next generation of bankers should prioritize. Sign up to our newsletter to get Making It in your inbox every Thursday. See omnystudio.com/listener for privacy information.

A different kind of stamina: AI and law with Lamyaa Gadelhak

55 min

Will AI eventually replace lawyers? On this episode of Making It — the third installment in our AI series — Lamyaa Gadelhak joins Patrick to refute that claim. It will transform the industry, she explains, but it will not replace it. Lamyaa is Partner at Baker McKenzie and Chair of its Global Project Finance Group, based in Cairo. As one of the country’s best known corporate lawyers, Lamyaa speaks to Patrick about how she’s been using AI, personally and professionally. They discuss attorney-client privilege, the subtleties and cultural norms an AI agent cannot comprehend, and the keys to being a good lawyer in an age where data is the most valuable commodity. “As long as people are interacting, there is always the need, perhaps, for someone to advocate for you.” Lamyaa then weighs in on how future lawyers should navigate the field today, a field where accumulated human skills will trump one’s knowledge of the law by a wide margin. At least that’s Lamyaa’s bet. Toward the end of the conversation, her and Patrick delve into AI regulation, government policy and data sovereignty. Sign up to our newsletter to get Making It in your inbox every Thursday. See omnystudio.com/listener for privacy information.

On IPOs and the “Egypt discount”, with MNT-Halan’s Mounir Nakhla

49 min

MNT-Halan’s IPO has been the talk of the market for a few weeks. So on this episode of Making It, Mounir Nakhla, the founder and CEO of MNT-Halan, joins Patrick to talk about why his company is going public, and why now is the right time.  Mounir built MNT-Halan in about 17 years, and soon 20% of the Egypt side of the business will be up for grabs. In the first part of the episode, Mounir takes us through what motivated the decision. He makes the case for returning FDIs, that the so-called Egypt discount is over, and he tells Patrick what it would take for this IPO to “pop.” In the back half, we glimpse the day-to-day operations of MNT-Halan and how they journeyed to the top over the past decade. According to Mounir, distribution and retention are key. You need the right tech and the right team, sure, but the route to growth is simple: make yourself available to the customer. And of course, we ask him about AI and whether or not we might be in the early stages of a credit bubble. Sign up to our newsletter to get Making It in your inbox every Thursday. See omnystudio.com/listener for privacy information.

The future of engineering in the age of AI with Youssef Rizk

1 hr 4 min

What do you risk when you build your business on top of the world’s frontier AI models? Youssef Rizk says, “Look at Google’s graveyard.” Youssef is the CEO of Windfall and co-founder and CTO of Wondercraft, which is the company we rely on to produce our other show Morning Drive, using the AI voice of our very human executive editor. On this episode of Making It, we discuss the present moment in tech, and take a pause to ponder the future. We unpack AI at the application layer and then think through how it impacts how the work gets done, and who gets to do it. Does AI replace people? Or does it add more work? Sign up to our newsletter to get Making It in your inbox every Thursday. See omnystudio.com/listener for privacy information.

Inside the NBFI firestorm with Hazem Moussa

46 min

For a few months, alarms have sounded across the board cautioning of an impending credit bubble. Are they warranted?  On this episode of Making It, Hazem Moussa joins Patrick to break down how a bubble in the credit industry actually forms, what regulators should watch out for, the risks on both sides, and the responsibility that lies on the client side — us, the consumers.    Hazem is the co-founder of Contact Financial Holding. He’s often credited as the architect of Egypt’s consumer finance industry.  In April, Hazem announced that he’s stepping down from Contact after a 25-year run. So we begin with him taking us through his final days at Contact, how he planned his exit all along, and the difficult choices he had to make along the way.  In the second half of the episode, he weighs in on the rapid expansion of NBFIs. On the one hand, the central bank has been tightening the screws on how banks fund non-bank institutions. And on the other hand, the lending train doesn’t seem to be slowing down. Hazem’s take is that there is no harm in being careful; as a community, we need to be cognizant of the risks, but regulators too need to respond by not “trying to control everything.” Hazem was a guest on Making It back in 2019. You can listen to the previous episode here.  Sign up to our newsletter to get Making It in your inbox every Thursday. See omnystudio.com/listener for privacy information.

Cairo Food Week’s Hoda El-Sherif on stories, flavors, and community

53 min

Is Egyptian food having a moment? And more importantly, is our cuisine finally claiming its seat at the global table?  Hoda El-Sherif says, “It’s coming.” Hoda is the co-founder and CEO of Flavor Republic, and the force behind Cairo Food Week. On this episode of Making It, Hoda argues that Egyptian food belongs on the same table as the great cuisines of the world. That’s the thesis behind Cairo Food Week, whose fourth edition runs between 24 September and 4 October.  Hoda and Patrick dive into our burgeoning food industry and how it’s changed over the last few years, chefs who are carving their spot on the global map, the gaps that still exist in the market, and the lessons Egypt can learn from countries that have championed their culinary narratives, making gastronomy tourism a matter of state policy. With a sprinkle of AI and its impact on the making and marketing of food, in true Making It fashion.  Check out Cairo Food Week’s full calendar of events. Listen to Morning Drive from Sunday to Thursday.  Sign up to our newsletter to get Making It in your inbox every Thursday. See omnystudio.com/listener for privacy information.

The mechanics of retail with Baraka’s Ahmed Ragab

48 min

After almost 50 years of competition, why would two companies choose to merge? Is it as simple as the big entity buying the smaller one, or is there more to the story?  On this episode of Making It, Ahmed Ragab joins Patrick to share how things actually played out for him.   Ragab is the CEO and Partner at Baraka Retail Group. This past May, Ragab sold control of Baraka Optics to Maghrabi, via a merger through acquisition, where Maghrabi bought 51% of his company. He chose not to walk away, even though he could have.  Baraka launched in 1979 as a wholesale business focusing on optics. Today, they operate in a number of industries: optics, fashion and e-commerce. Ragab explains the why behind the decision, and then breaks down the projected outcomes. He also shares his ethos as a manager, how he keeps up with trends “in a classic industry,” and how he thinks about the question of succession. Sign up to our newsletter to get Making It in your inbox every Thursday. See omnystudio.com/listener for privacy information.

Why Rep. Neveen El Tahri is optimistic

1 hr 8 min

Foreign investors see a lot of potential in Egypt. Their optimism, however, is not necessarily shared by many inside Egypt. So where does the gap lie? On this episode of Making It, Neveen El Tahri joins Patrick to make the case for optimism. Neveen is a legend in banking and finance. She is a serial entrepreneur, the first woman to sit on the board of the Egyptian Stock Exchange and the Egyptian Financial Supervisory Authority, and a member of parliament. Neveen was not always optimistic, but she recently saw the puzzle pieces come together. She dives into policy, privatization, the many opportunities ahead of Egypt, and her personal belief that changes on the policy level will eventually trickle down. Sign up to our newsletter to get Making It in your inbox every Thursday. See omnystudio.com/listener for privacy information.

The Chinese takeover with Ankush Arora

49 min

When Chinese cars first appeared in Egypt around a decade ago, they were met with backlash. Now, they’re everywhere. Why? And how? On this episode of Making It, Ankush Arora joins Patrick to break down how this happened, and why the pace of adoption is accelerating. Ankush is the CEO of Al Mansour Automotive Group, a leading Egyptian and regional automotive distributor. With both global and local industry knowledge, Ankush provides an insider’s perspective on the automotive industry in Egypt. Particularly on policy, development, and the bet Mansour is making on manufacturing. Sign up to our newsletter to get Making It in your inbox every Thursday. See omnystudio.com/listener for privacy information.

Decoding AI with Tarek Assaad

49 min

Past the doom and gloom, what the heck is actually going on with AI at the moment? On this episode of Making It, Tarek Assaad joins Patrick to decode the latest in AI. From one of the smartest people in business and tech, this is an episode for both the novice and the pro, about what we should make of the recent technological breakthroughs, and what we’re yet to find out. Tarek is Managing Partner at Algebra Ventures, one of Egypt’s leading venture capital firms. Algebra turned 10 in May 2026. So we also discuss the journey of backing Egyptian founders through three devaluations, a pandemic, the end of free money, and the hyper AI moment we're all living through. Tarek is the first guest we’ve invited on Making It twice. You can listen to the previous episode here.  Sign up to our newsletter to get Making It in your inbox every Thursday. See omnystudio.com/listener for privacy information.

Making It: A preview

2 min

Six days a week, we help top executives make sense of the Arab world’s companies and economies — and every Thursday, our editor-in-chief, Patrick, talks shop with the people who run them.  Making It is an hour where the founders, CEOs, investors, and policymakers making the biggest decisions in our region show their work and talk about what’s next.  From EnterpriseAM, the Arab world’s business daily. See omnystudio.com/listener for privacy information.

A note from Patrick

10 min

In this special feed drop, Patrick shares an episode of EnterpriseAM’s new show, Morning Drive. It's a 10-minute rundown of the biggest business stories that will shape your day. To get new episodes straight in your feed every morning, follow EnterpriseAM | Egypt wherever you're listening right now. We’ll be back with a new season of Making It soon, so stay tuned. See omnystudio.com/listener for privacy information.

Special: Doing it differently | Marakez Exec Vice Chairman Dasha Badrawi

1 hr 4 min

For the last few decades, Sahel has cemented its place as a go-to summer destination for many. Clear waters. Crisp weather. Buzzing nightlife.  Last year, the Ras El-Hekma deal swung the spotlight on the potential of Sahel as a regional investment hub. But what exactly are we building up there?   In this special episode of Making It, we speak to Marakez Executive Vice Chairman Dasha Badrawi.  Dasha stumbled onto the real estate industry in the mid-2000s, and he has been at its forefront ever since. Having been brought up in the UK, his ties to Egypt remained unwavering, and so did his penchant for creation. For the last decade, he has been at the helm of Marakez. Ushering in iconic projects like Mall of Arabia and District 5, Dasha has pushed forward a philosophy that centers innovation, team effort and homegrown partnerships. In conversation with Patrick, Dasha opens up about his early years as a lawyer and entrepreneur, the challenges posed by Egypt’s unique real estate financing model, the way buyers should assess developers, and how favoring recurring revenue through retail and commercial properties was key to Marakez’s success. They speak at length about the changes taking place along Egypt's North Coast, the ethos and architecture of Marakez’s Ramla, and what his team has in store this summer.  This episode was produced as a part of our four-part special Destination Sahel.  In case you missed it, check out these two episodes from our archive: How Gourmet Egypt survived the float of the EGP  How Karim Awad has grown EFG Hermes from a regional giant into a global player Learn more about how you can advertise with EnterpriseAM by emailing Moustafa Taalab mtaalab@enterprisemea.com See omnystudio.com/listener for privacy information.

Special: Building an innovative bank — and how to lead it — with Mashreq Group CEO Ahmed Abdelaal

42 min

After more than five years at Mashreq’s helm, Group CEO Ahmed Abdelaal is a well-known face in the regional banking industry and beyond. Ahmed has led the bank through an ambitious expansion strategy that has seen it recently open Mashreq Oman, in addition to Mashreq Neo in Egypt, as well as its digital banking platform for corporate clients in Bahrain, Kuwait, and Qatar.  We recently sat down in Dubai with Ahmed to speak at length about how he and his team see the road ahead. Resilience and adaptability, he thinks, will be key in a year that’s filled with uncertainty about everything from interest rates to what the new US administration means for trade, finance, and the world order. We get into whether Arab business leaders pay enough attention to India, banking as a service, innovation in financial services, and a lot more. As with every episode of Making It, this isn’t just a show for industry nerds: It’s part of our masterclass on leadership. We go deep into why Ahmed invites the entire bank to “scru my strategy,” how he gets his leadership team on the same page (while avoiding groupthink), as well as how he makes decisions, decides what to work on himself, and structures his org chart.  What does the year ahead look like? In a nutshell, Ahmed tells us that 2025 is “the year where we will be delivering on some of Mashreq’s key strategic objectives.” That includes “continuous innovation, regional expansion, and building state-of-the-art client experiences.” Already a major player in the corridors linking MENA to Asia, the United States, and Europe, Ahmed aims to make the bank the dominant digital player in our region, talking openly about “banking as a service” as concepts including open finance and embedded finance move toward center stage in the so-called platform economy.  However it plays out, you can be sure that client experience is at the heart of everything Mashreq has planned. “Focusing on driving client experience — and client excellence — is key,”...

How to fundraise with Actis Partner Hossam Abou Moussa

40 min

In 20 years of working in private equity, Hossam Abou Moussa has seen the makings of great businesses across industries in Egypt and other emerging markets. At Actis, he is a partner in the private equity business, as well as chief operating officer of the unit. Actis is one of the leading investors in emerging markets, and currently operates roughly USD 10 bn under management. In Egypt, they have invested in some of Egypt’s biggest companies, including CIB, Edita, International Diagnostics Holding, and Fawry. In our last episode of the season and the year, Abou Moussa outlines the three fundamental aspects investors look for in a business and how to leverage them for fundraising, as well as how to choose a business partner or investor, and when to choose private equity as an option. ** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.news. Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories. The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.You can learn about Actis here: https://www.act.is/ See omnystudio.com/listener for privacy information.

Growing a diagnostics powerhouse with Integrated Diagnostics Holding CEO Hend El Sherbini

42 min

Hend El Sherbini took over her mother’s testing facility MK Lab in Egypt and rebranded it to Al Mokhtabar in 2004, with the intention of providing affordable and quality testing beyond Cairo.  16 years later, El Sherbini sits atop Integrated Diagnostics Holding, a merger of Al Mokhtabar and Al Borg.  IDH is the first Egyptian company to list on the London Stock Exchange, and has since become a regional player with over 450 facilities across Egypt, Sudan, Nigeria and Jordan. El Sherbini speaks to the merits of institutionalizing her family business and highlights the role consolidation plays in enabling affordable healthcare. ** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.news. Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories. The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt. You can check out IDH here: idhcorp.com See omnystudio.com/listener for privacy information.

Playing moneyball with Arqam FC CEO Ali ElFakharany

41 min

Ali ElFakharany got hooked on sports data as a university student, and the blog he started to analyze the Egyptian Premier League blossomed into a company in 2017. But the local market was not ready for Arqam’s services, and so Ali turned to Europe. In 2019, Arqam was acquired by UK-based Statsbomb in a share swap agreement that retained Arqam’s team and Ali leading the data product.  Today, Arqam’s data collection center in Egypt has become an essential service to 42 European and US clubs, including teams from the English Premier League, Germany’s Bundesliga, and the MLS, providing data analytics services to every level of a sports franchise. We discuss the ups and downs of going from a local luxury to a global essential service and how owning the value chain of data collection and analysis made Arqam FC a viable investment for Statsbomb. ** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.news. Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories. The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt. You can check out Arqam FC here: arqamfc.com See omnystudio.com/listener for privacy information.

Transforming security with MagicCube co-founders Hisham Shawki and Nancy Zayed

42 min

Hisham Shawki and Nancy Zayed launched MagicCube in 2014 with the intention of eliminating the redundancy of hardware-based security currently used in mobile and IoT devices. The primary target of their technology is the USD 48 bn POS hardware market, a strategy that attracted investments from Visa and CIB’s VC arm CVentures. Beyond financial services, the security platform has major applications in industrial machinery, medical devices, and autonomous vehicles. The implications on emerging markets looking to improve financial inclusion are undeniable. By removing costly barriers to entry caused by manufacturing and deployment of hardware components, the technology can help bring a greater portion of the informal economy into the system.  Hisham and Nancy take us back to how they went from building software in Egypt to working at tech companies that arguably changed the world, and share with us their favorite stories about meeting Steve Jobs. ** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.news. Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories. The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt. You can check out MagicCube here: magiccube.co See omnystudio.com/listener for privacy information.

Debating bricks or clicks with Majid Al Futtaim Properties CEO Ahmed Galal Ismail

42 min

With brick and mortar retail seeing declining growth in developed markets fueled by competition from e-commerce, Majid Al Futtaim tells a story that might look a little different in emerging markets. Malls here still see growing popularity and Majid Al Futtaim’s retail brands are household names in Egypt and the region. Ahmed Galal Ismail led Majid Al Futtaim Ventures for 10 years prior to his current role. Today, Ismail leads Majid Al Futtaim Properties, the arm responsible for malls, hotels, communities and project management within the conglomerate. His tenure managing the fashion, cinema and entertainment arms of the business equipped him with a critical ethos - solving for experience and not function.  ** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.news. Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories. The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt. You can check out Majid Al Futtaim here: majidalfuttaim.com See omnystudio.com/listener for privacy information.

Building a “people” business with Dr. Bahaa Alieldean, of the Alieldean Weshahi & Partners law firm

43 min

If your business sells time — yours or your team’s or both — then this week’s episode is for you.  Lawyering is perhaps the world’s second-oldest profession — and the source of endless jokes, the vast majority of them (pleasantly?) tasteless.  Today’s episode features a lawyer — and an awfully nice one, at that — but think of him as a stand-in for every business in the service industry, from ad agencies to engineering consultants, PR types and accountants.  From attracting and retaining talent, to creating culture and monetization, Bahaa Alieldean discusses the similarities and universal challenges facing law firms as well as other service providers. We explore creating corporate structure and how micromanagement prevents founders from transitioning away from day-to-day operations into traditionally accepted CEO responsibilities. Bahaa is a law professor and practising corporate lawyer specializing in capital markets, banking transactions and dispute resolution. He established his law firm ALC Alieldean, Weshahi & Partners in 2003 favoring a model of collective practice with specialization groups over the traditional office of a solo practitioner. ** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.news. Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt.You can check out Alieldean, Weshahi & Partners here: http://www.alc.law/ See omnystudio.com/listener for privacy information.

Kickstarting an industry with Fawry CEO Ashraf Sabry

42 min

The majority of Egypt’s population are unbanked and have no access to financial services. Thanks to fintech players like Fawry, this is changing quickly — and for the better. When Ashraf Sabry founded Fawry in 2008, he knew he wanted to leverage his experience and technology in a business that had recurring revenue. Flash forward and, a decade later, Fawry is now a payments platform that connects over 29 mn customers through 166K service points across the country, and can be used for over 850 services ranging from utility bills and school tuition, to traffic fines and insurance.  Ashraf talked to us about building the platform from the idea stage to becoming a major listed company on the EGX with international shareholders. He told us how the company was built with local talent, the company’s early stage challenges, and what’s next for Fawry. ** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.news. Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories. The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt. You can check out Fawry here: www.fawry.com See omnystudio.com/listener for privacy information.

Breaking baladi bread with Zooba CEO Chris Khalifa

44 min

Zooba sells taamiya, not falafel. When Chris Khalifa launched Zooba in 2012, the goal was to elevate Egyptian street food from cheap, delicious, everyday sustenance to a global brand. By 2020, Zooba’s value proposition had already shaped a loyal following at home and abroad with branches in Egypt, a franchise agreement in the GCC, and a New York outpost — opened just before covid-19 hit.  Chris talks to us about what it takes to change people’s perception on how much street food should cost through the power of a strong brand. We discuss introducing new food to foreign markets, teaching Westerners how to say Taamiya, and how Zooba survives economic crises. ** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.news. Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt. You can check out Zooba here: www.zoobaeats.com See omnystudio.com/listener for privacy information.

A peek behind the curtain: How Trella is bringing supply chains into the digital age

42 min

Omar Hagrass, CEO of Trella On this week’s episode of Making It, we remotely sit down with Omar Hagrass, the CEO and co-founder of Trella, a digital trucking marketplace. The company’s application acts as a hub for shippers and carriers, eliminating the time-consuming and inefficient manual process of using brokers. Trella is a relatively new company, raising an impressive USD 600k pre-seed round led by Algebra Ventures in 2019. They joined and graduated the Y Combinator program shortly after,  acquired their Egyptian rival Trukto to become the largest trucking marketplace in the country, before expanding to Saudi Arabia.  As the Covid-19 pandemic presented challenges and disruptions to supply chains across the world, Trella’s technology allows shippers to gain valuable insight over their resources during a time when optimization is desperately needed. Hagrass offers advice to entrepreneurs on the intricacies of disruption and growth, and details why Trella has the potential to become the country’s first unicorn. Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt. ** Subscribe to Making it here https://bit.ly/35lugvb. ** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.  You can check out Trella here: trella.app  See omnystudio.com/listener for privacy information.

Triple Digit Growth: How SAP created a digital safety net for businesses

37 min

Hoda Mansour, Managing Director of SAP Egypt and Frontier Markets Hoda Mansour was twice recognized by Forbes as one of the most influential businesswomen in the Middle East for her work in SAP in the UAE, Oman, and Egypt. SAP’s Enterprise Resource Planning (ERP) software is among the most widely used across the world, at a time when the livelihood of many businesses hinges on establishing a digital presence. She details the reasons multinationals find Egypt attractive, and outlines how to prepare for the mass adoption of automation services and its impact on the workforce.   Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt. ** Subscribe to Making it here https://kite.link/making-it. ** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.  You can check out SAP here: www.sap.com/mena/index See omnystudio.com/listener for privacy information.

Investing in digital disruption: How Algebra Ventures became synonymous with tech startups

40 min

Algebra Ventures Managing Partners Tarek Assaad and Karim Hussein From a background of senior positions at multinationals, Algebra Ventures Managing Partners Tarek Assaad and Karim Hussein are driven by a belief that tech and entrepreneurship can enable tangible change in a region where basic services can often be major inconveniences. Established in 2015, Algebra Ventures is a USD 54 mn venture capital fund that invests in early stage tech startups in the MENA region. The fund is the largest of its kind in Egypt. Assaad and Hussein outline the most important features they look for in startups, including tackling big markets and possessing a strong management team, as well as the red flags they avoid at all costs. Our host, Patrick, sat down with Assaad and Hussein in December, before Covid-19 put us all on work from home. DISCLAIMER: Algebra Ventures Managing Partner Ziad Mokhtar could not join us for this interview. Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt. ** Subscribe to Making it here https://bit.ly/35lugvb. ** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.  You can check out Algebra Ventures here: algebraventures.com See omnystudio.com/listener for privacy information.

Where preparation meets opportunity: How TPay Mobile put Egypt on the Fintech map

30 min

Sahar Salama, Founder and CEO of TPay Mobile In a country with low banking penetration and high mobile adoption, Sahar Salama saw a business opportunity in creating a payment solution through telecom operators. She used her experience at Link Development to create a direct operator billing model and launched TPay Mobile in 2014.  Launched in Egypt, Saudi Arabia and the UAE simultaneously, they now operate in over 18 markets across MENA covering almost 51 mn transactions a day.  The company made headlines in 2017 by making the first wholesale acquisition of a fintech company in Egypt when they acquired their primary competitors DCBEgypt. In 2018, they became the region’s first Dragon, when A15 sold its 76% stake to Helios Investment. Salama talks to our host, Patrick, about conception, the challenges of scaling, the importance of finding the right partners, and her future plans to make TPay what she considers a great business. Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt. ** Subscribe to Making it here https://bit.ly/35lugvb. ** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.  You can check out TPay at: tpaymobile.com See omnystudio.com/listener for privacy information.

Amro Abouesh, CEO and Managing Director of Tanmeyah

38 min

Having served as Executive Advisor for Microsofinance at Banque du Caire and then as head of the microfinance and SMEs division at the Bank of Alexandria, Amro Abouesh believed in private sector financing as a means to enable social mobility within the low income sector of society. By founding Tanmeyah in 2009, Amro effectively launched private microfinance in Egypt and helped bring in Egypt’s leading private equity, commercial and investment banks. Today Tanmeyah sits at the top of the industry with over 270 branches across the country and an EGP 3.5 bn portfolio. Abouesh walks us through the risk assessment process and his experience navigating policy and legislation to establish Tanmeyah and private microfinance. Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories. The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt. ** Subscribe to Making it here https://bit.ly/35lugvb. ** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.  You can check out Tanmeyah at tanmeyah.com/en See omnystudio.com/listener for privacy information.

Surviving the end of a trend: going beyond cupcakes with NOLA

38 min

Laila Sedky and Adel Sedky, Founder and CEO of NOLA As Founder and CEO of one of the most recognizable brands in the confectionary business, Laila and Adel understand the business of selling happiness. Their tenure at Nola saw them grow the brand beyond the flagship store in Zamalek to a confectionary giant with 25 stores across 7 cities. From leading the local cupcake craze to making pivotal decisions on the sustainability of their brand and the subsequent reorienting of their customers, all while dishing out fresh and exciting takes on classic Egyptian desserts, Laila and Adel are experts at marketing and operations, looking beyond trends, and separating between work and family. Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt. ** Subscribe to Making it here https://bit.ly/35lugvb. ** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.news.  You can check out NOLA’ extensive range of products on their website or instagram. www.nolabakery.com https://www.instagram.com/nolacupcakes See omnystudio.com/listener for privacy information.

We don't need no education...in the classroom

47 min

Mohamed El Kalla, CEO of Cairo for Investment and Real Estate (CIRA).  As the head of one of the largest private sector education operators, El Kalla is someone who understands the business of education. He has seen the seismic shifts in the industry over the past few decades: from family-owned businesses to corporations, from Cairo and Alex to the other governorates, from the super wealthy to the middle class, from individual shareholders to IPOs and private equity, and from the classroom to your home. CIRA has even led the way on a number of these trends. His tenure saw him lead the company through a successful relisting on the EGX in 2018, which fueled a massive expansion. The company has 19 K-12 schools, one university, and over 30k students under their belt. Their lineup of brands now includes Futures, Maverick schools, British Columbia schools, and Badr University, among others.  His active investment in education tech startups has kept him abreast of all the exciting new developments in e-learning and education platforms.  And this was all before covid-19, where the millenia-old tradition of the classroom was rendered archaic in a span of a few months. The impact this transformation has had on our lives cannot be understated. School children now have to act like online grad school students and parents have had to become teaching assistants. Yet despite this transformation, the transition has appeared almost seamless. Having been on the frontline of that transformation, El Kalla gave us a first hand account of how hard it was to get us here.  This is also the first podcast interview we’ve done entirely from home, making it the most appropriate episode to kick off what we hope is an exciting new season.  ** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.news.  Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CE...

Bringing art to the masses: How TAM is trying to democratize the art scene

29 min

TAM Gallery, formerly Arts Mart, started off as an online gallery that aimed to give new artists a chance to break into the Egyptian art world. Fast forward less than a decade later, TAM has three arms each aiming to give new artists and entry into the commercial world — and to bring new potential buyers into the market. The online gallery is still going strong, but is now complimented by a physical art space in 6th of October City as well as TAM Corporate that integrates art into public spaces.  Lina Mowafy, the cofounder of TAM Gallery, started the business when, as a budding artist, she was unable to convince a gallery to exhibit her works. A comiseratory coffee with her childhood friend led the two to decide to create their own platform for displaying artwork. And so they did, launching amid the events of 2011 and creating an institution that’s transformed the country’s art scene. ** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.news Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt. EFG Hermes, the leading financial services corporation in frontier emerging markets helping businesses realize their full growth potential. Links: * TAM Gallery: arts-mart.com * Enterprise: Enterprise.news * Inktank: Inktankcommunications.com See omnystudio.com/listener for privacy information.

Eat your heart out, Willy Wonka: How Edita beat out global household names to become the leading snack food producer in Egypt

36 min

If you’ve ever been starving in Egypt without a kitchen anywhere in sight, it’s likely that you’ve tried a snack by Edita. Since its founding in 1996, the maker of such brands as Todo, Molto, Bake Rolz and Twinkies, expanded its product offering, grown its manufacturing capacity, and has even launched a factory in Morocco. It did this during the economic storm that came with the EGP float and 2016 and the high interest rate environment that has only just begun to subside. Today, Edita has done more than hold its own against some of the biggest global fast moving consumer goods brands. The company holds a leading market share in each of its five segments that span the Egyptian snack food market, including cakes, croissants, rusks (baked wheat), wafers, and candy. While some of its local competitors were bought out, they launched a successful IPO back in 2015 that generated EGP 24.2 bn, emerging as one of the most successful FMCG plays of the past decade in Egypt. Company founder and industry veteran Hani Berzi sat down with us to walk through the ups of developing and marketing new brands, the lows of struggling through a challenging microclimate and the highs of its ambitions to become an Egyptian multinational. Hani also gives us a nuanced perspective on the Egyptian food market, in his capacity as founder, chairman and CEO of the company and as the chairman of the Food Export Council. ** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.news.  Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt. EFG Hermes, the leading financial services corporation in frontier emerging markets helping...

Meet Sarwa Capital: the 20-year-old startup quietly building the infrastructure of consumer finance

32 min

Hazem Moussa will forgive you if you’ve never heard of Sarwa Capital, because unless you’re a finance geek (like us), Sarwa is hardly a company whose name you’ll hear every day — even though there’s a reasonable chance Sarwa has been involved in your financial life one way or another.  They own Contact Cars (the website and the car finance business). They sell insurance, mortgages and leasing solutions— as well as white label finance for car dealers.  Oh, and they invented the notion of securitized bond offerings in Egypt.  The son of a prominent diplomat, Hazem is a former investment banker and one of three co-founders. He talked with us about raising money for the business before venture capital was a thing in Egypt. About life after going public on the EGX in a controversial IPO in 2018. And about how he resists micromanaging while still keeping his finger on the pulse of his business. ** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.news.  Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt. EFG Hermes, the leading financial services corporation in frontier emerging markets helping businesses realize their full growth potential. Links: * Sarwa Capital: Sarwa.capital * Enterprise: Enterprise.news * Inktank: Inktankcommunications.com See omnystudio.com/listener for privacy information.

One ring to rule them all: How the Azza Fahmy brand became a precious heirloom that was nourished into a global luxury powerhouse

29 min

After taking over the helm at Azza Fahmy back in 2006, Fatma Ghali, along with her sister Amina, built on the legacy of their mother, spearheading the expansion of the brand outside of Egypt and added a contemporary perspective to the company’s designs. They established a foothold in the European market through collaborations with leading fashion designers such as Julien MacDonald and Mathew Williamson and fashion houses such as Preen. They also popularized their brands with exhibits at the British Museum. In today’s episode, Fatma Ghali talks to us about the challenges of taking on a 50-year legacy is branching out of its historical field of jewelry design and is moving into all aspects of design, including architecture, having designed KarmSolar’s Sahl Hasheesh campus. Azza Fahmy branded products are currently being sold in the company's 16 stores, located in six different countries and across four continents, in addition to the most widely used online and e-commerce sites.  ** Subscribe to Enterprise, our 6am briefing on business, finance, and economics in Egypt (also free) at www.enterprise.news.  Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories The United States Agency for International Development, which has a 40-year history of inspiring Egyptian success in partnership with the Government and people of Egypt. EFG Hermes, the leading financial services corporation in frontier emerging markets helping businesses realize their full growth potential. Links: * Azza Fahmy: azzafahmy.com * Enterprise: Enterprise.news * Inktank: Inktankcommunications.com See omnystudio.com/listener for privacy information.

The team player: How Karim Awad has grown EFG Hermes from a regional giant into a global player

34 min

Karim Awad started at EFG Hermes as an analyst and rose to become the head of EFG’s high-profile investment banking unit — a job he held until he was tapped to run the firm as Group CEO in 2013. In an industry known for its outsized egos, Karim is Scottie Pippen, the consummate team player from the 1990s Chicago Bulls.  In this week’s episode, Karim talks about the firm’s unique culture and how it helped him transform EFG into not just an Egyptian multinational, but a top-30 player in the global IPO market and a non-bank financial services powerhouse here at home. ** Subscribe to Making it here for https://bit.ly/35lugvb. ** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press.  Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt. EFG Hermes, the leading financial services corporation in frontier emerging markets helping businesses realize their full growth potential. Links: * EFG Hermes: EFGHermes.com * Enterprise: Enterprise.news * Inktank: Inktankcommunications.com See omnystudio.com/listener for privacy information.

Mr and Mrs Claus: The couple behind the killer concierge app Elves

29 min

Seeing the rapid growth of digital assistants, Abeer El Sisi and Karim El Sahy co-founded Elves in 2016, along with Ahmed Kassem. They looked at the deficiencies in current digital assistants and realized the human element was still needed. By efficiently connecting people with human assistants, Elves’ AI platform learns from these interactions and in turn becomes more efficient and better adept at connecting users with services.  In today’s episode, Abeer and Karim talk to us about the challenges of being a married couple with the lofty aim of creating the best AI-based digital concierge service provider there is. Today, Elves has over 650,000 users and is looking to close another seed round, after having broken Egypt’s seed funding record with USD 2 mn in 2017.  ** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.news.  Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt. EFG Hermes, the leading financial services corporation in frontier emerging markets helping businesses realize their full growth potential. Links: * Elves: elvesapp.com * Enterprise: Enterprise.news * Inktank: Inktankcommunications.com See omnystudio.com/listener for privacy information.

Back from the brink: How Gourmet Egypt survived the float of the EGP

26 min

After a ten-year run leading a high-end retailer of imported food in Egypt, Jalal Abu Gazaleh nearly fell off a cliff when the devaluation of the EGP saw prices skyrocket, inflation go through the roof — and an effective ban on imports put in place.  In today’s episode, Jalal talks with us about how he built the business from a one-desk meat importer into a retail powerhouse and an early pioneer of e-commerce — and saved his business by becoming a food manufacturer. Today, his private-equity backed business is growing nationally, looking at regional expansion and mulling prospects for an IPO sometime down the road. ** Subscribe to Enterprise, our 6am briefing on business, finance, and economics in Egypt (also free) at www.enterprise.news.  Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories. The United States Agency for International Development, which has a 40-year history of inspiring Egyptian success in partnership with the Government and people of Egypt. EFG Hermes, the leading financial services corporation in frontier emerging markets helping businesses realize their full growth potential. Links: * Gourmet: GourmetEgypt.com * Enterprise: Enterprise.news * Inktank: Inktankcommunications.com See omnystudio.com/listener for privacy information.

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