CAIRO: “From what I have seen over the past year I have come to the conclusion that there is a great opportunity for us all, particularly in Egypt,” said Hany Mwafy, head of the Middle East London Business Forum, Thursday, in a press conference announcing the launch of the forum next February in Cairo.
The London Business Forum Middle East will take place on February 15-16, 2011.
Mwafy said that the event will provide business professionals with a new approach necessary to understand the future, make a difference and succeed in the 21st century, presenting opportunities for the exchange of thoughts, experiences and knowledge with some of the world’s most renowned speakers and practitioners.
Mwafy explained what the forum would bring to Egypt and the region in particular in terms of a new business strategy under the title, “Building the Great.”
He said that the 21st century gave us examples to use as inspiration. Facebook, he said, has grown to 500 million users, becoming bigger than most countries, and Google has brought free knowledge and information to anyone with a click of the mouse.
Facebook was started by a 26-year-old which shows that anyone with just an internet connection and a business idea can have a significant influence on businesses, the community, national economies or even the world scale, he said.
Identifying what Egypt lacks to nurture successful businesses like Google and Facebook, Mwafy said that Egypt has nothing missing in terms of knowledge.
“What Egypt lacks is entrepreneurial spirit and openness to the knowledge economy,” he said adding that Egypt needs to develop a work ethic like that of the east and the entrepreneurial spirit of the west.
According to Mwafy, Egypt’s business leaders also have a lack of “thought leadership.”
“We, as managers, always think of doing something more efficiently or better than the past or than our competitors, which is a good thing but this does not take into account the significance of trends and future expectations,” he said.
“Only the businesses that innovate will get ahead, and we see businesses from America, Japan, England, Germany and particularly India coming up with extraordinary products. In Egypt we are currently looking to increase our economy by 8 percent but India are growing 10 percent and Qatar by 18 percent,” he continued.
When discussing who to invite to speak at the forum, Mwafy said they had gaps in Egypt’s business environment in mind and it led them to recognize three major areas, understanding the future, innovation, and persistence.
The lineup will include experts in those fields, including Richard Scace, one of the world’s leading business forecasters, motivational speaker Steve McDermott and the first Egyptian to climb to the summit of Mount Everest, Omar Samra.
All sessions will be broadcast live through simulcasts at Smart Village and the American University in Cairo over two days thus making engagement accessible to junior and middle level executives and students who are unable to attend the event.
“It’s not just going to be about talking, or telling people what to do, it’s about building, ‘building the great,’ so we thought of making the talks more practical and applicable, empowering the business community and creating building blocks for business,” he added.
Mwafy concluded by stressing the importance of a solid business platform on the road to Egypt becoming part of the world knowledge economy, saying that the London Business Forum coming to Cairo is a step in that process.
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Omar Samra.
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Motivational speaker Steve McDermott.
