Builders of egypt igg3/29/2023 ![]() The governor will face very difficult choices to be made in a constantly changing political environment. ![]() Well-designed city will greatly improve economic efficiency which may convert into city income. The most important aspect is the skillful management of urban planning by shaping the grid of streets, placing buildings and their mutual relation. ![]() The story starts in a little-known protodynastic period in which you will be able to observe the birth of the Old Egypt and finished with the death of Cleopatra VII. We’re looking at a full-fledged bank there.Builders of Egypt: Prologue is an economic type of city-building taking place in the valley of the Nile. “That will be a completely different proposition as things settle down. This expansion plan doesn’t stop here either, with #Ethiopia, being a target as well.Įthiopia, “is still opening up its markets to foreign banks, so having first mover advantage would be great,” Abaza says. “East Africa, because of proximity, because of language,” Abaza says, “is a much more natural starting point for us, compared to the West African giants.”Īt this stage, he did not provide any hard numbers or firm timelines on how much capital CIB will invest in Mayfair CIB Bank Ltd to grow it beyond its current 5 branches, and 0.26% market share by end December 2022. Next door, Elsewedy Electric & Arab Contractors built the 2.1 GW Julius Nyerere hydropower plant in #Tanzania in around 2 years. Egypt exported goods worth nearly $ 440 M to Kenya in the same year. The country’s a huge buyer of Kenyan #tea, for one, with nearly $ 150 Million of it exported in 2020. Egyptian firms are trading more with other countries on the continent. “That’s the question I’ve been asked by my board and investors, several hundred times,” Hussein Abaza, CEO of CIB Egypt told me when we spoke on February 6. If you’re a bank with around $ 20 Billion in assets, and over $ 400 M in net earnings over the first 9-months of 2022, what makes the smallest bank in #Kenya a sensible takeover target? ![]() Incredible team! Incredible investors including Y Combinator have put their money where their mouths are. The Nash (YC W22) team, led by Anthony Wagacha, George M, Abdul Gaba, and assisted by Mohamed Mohamed is solving this pain. This is a nightmare for any business at scale. This leads to redundancies including multiple rote tasks by the finance and other teams, obscurity on the real financial health and overall state of a business, and downstream disruptions. There are as many systems as there are silos in finance departments today. Where no silos exist, paper safes and shelves rule - looking at you SACCOs, Pension Admins and Insurers □ Finance teams have ended up with inadequate and fragmented workflows to enable seamless data and financial flows. Innovating in silos for finance teams has created a huge challenge for businesses. Payroll and HR Management platforms such as Workpay exist to solve yet another challenge for these growing businesses - employee management. ![]() Glovo, Uber Eats and others help with selling online by aggregating orders.Ĥ. Stripe and its equivalents in Africa such as Pesapal, Flutterwave, and Cellulant help with collections. As businesses digitize and start selling online - all manner of #fintechs have popped up to help businesses sell and collect money online. Subsequently, accounting systems such as Sage, SAP, Oracle, and QuickBooks Online Professional have been created to address this bottleneck for finance teams.ģ. As a business grows, there is a need to create, store and trace accounting records. Because a business needs a separate bank account from that of its owners, banks created business bank accounts for finance teams.Ģ. When you think about how innovation has occurred in finance teams for any business, it started with a tiny premise: enabling operational efficiency for the business by removing any bottlenecks for finance teams. So:-ġ. Yesterday I met a team that is building the future of Finance in Africa. A different type of #FinTech. ![]()
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