Year: 2015

2 phases of Galleria project to be completed in 2015: Chairman

The Arabia Group for Development & Urban Progress is set to continue the Galleria Moon Valley project, which the company launched in 2013, Tarek Shoukry, the company’s Chairman told Daily News Egypt.

The project is planned to be constructed over seven stages, whereby it will include a total of 1,800 housing units, and will extend over an area of 71 acres.

Two phases were already launched last year (with 300 housing units each); two others are to be open for reservation this year, and the final three stages will start and be open for reservation in 2016.

All the units of the first phase of the project have been sold; whereas only half of the units in the second phase got sold.

According to Shoukry, only 150 units, or half the second phase, was offered for reservation, and the rest will be offered this year.

The units of the two new phases include regular and duplex apartments, with areas that range from 120 to 350 m².

Concerning the prices that were previously issued last January, Shoukry stated that they started at low rates, where they began their offering at EGP 5,000 per metre.

This year, however, prices have been raised to reach around EGP 8,000 per metre for apartments.

Shoukry said that prices for properties have generally increased in late 2014, due to a rise in the prices of building materials, as well as the high prices of lands offered in auctions.

Additionally, Ehab Galal, project manager at Sawa Company for real estate marketing, told Daily News Egypt that prices for apartments in New Cairo could range from EGP 4,500 to EGP 6,000 per metre.

He also noted that even higher prices are offered according to the location of the apartments and the services provided around them.

He further claimed that the prices of apartments have increased in 2014 by approximately 15%, and he expects them to rise in 2015 to reach around 25%.

He also said that with the price increase, demand was not negatively affected, and that it has even increased because the area is well planned and constructed. He added: “The state provided great attention to this zone.”

Moreover, Shoukry said that he expects the prices of properties to grow by 25-30% in 2015, saying: “If someone wants to invest in real estate, then today is better than tomorrow.”

Shoukry further noted that the units that have been reserved in 2014 will be received by buyers in 2016, while the ones that will be reserved this year will be provided to customers in 2017.

He further noted that the units that were reserved in 2014 will be provided a year earlier than the expected date, which was supposed to be 2017.

The Galleria project represents a new luxury community that pays special attention to fine art. Buildings at the residential community will display works of art by famous artists, with decorative art placed in school buildings located throughout the community.

Residents will have access to facilities and services, including six swimming pools, botanical gardens and children’s playgrounds, which cover around 45% of the compound, and the compound’s lighting system will be operated using solar energy.

A commercial mall that is also being constructed by the company is 95% complete, and is expected to open in the second quarter of 2015, Shoukry said.

The mall is located at Road 90 in New Cairo, with a total space of about 25,000 m².

Arabia Group has been in the market for 25 years, and is a property developer in Egypt, Austria and Dubai. The group has launched other luxury property projects including “Moon Valley 2” twin houses, as well as “Arabia” in New Cairo.

January 18, 2015
Families’ maximum income rose to EGP 3,000 per month in Mortgage Finance Law

Madbouly pointed out that the amendments will benefit the applicants for the 1m residential units project
(DNE Photo)

The cabinet has approved amendments of the executive regulations of the 148/2001 Mortgage Finance Law aims to modify the beneficiaries to the fund, Minister of Housing Mostafa Madbouly said Saturday.

Madbouly explained that the amendments modify the definition of low-income beneficiaries of the fund, to raise the maximum income of the family from EGP 2,500 per month to EGP 3,000.

Head of Mortgage Finance Fund (MFF), Mai Abdel Hamid, commented that the maximum income for those who are eligible to enter the programme was ratified in 2008, adding that it remained with no revision since then.

Abdel Hamid noted that the amendments will be reviewed by MFF’s board of directors in its next meeting, where they will discuss levels of income for individuals and families.

Furthermore, Madbouly pointed out that the amendment will benefit the applicants for the 1m residential units project (Social Housing Project). The project was initially announced during the 25 January Revolution, urging people to apply. This project is not related to President Al-Sisi’s 1m housing unit project, announced with Arabtec in March 2014.

The post-revolution government announced the project’s implementation in July 2012. The national project is expected to provide 1m residential units. Construction was projected to last five years, from fiscal year (FY) 2012/13 to FY 2016/17, with an average of 200,000 units expected to be constructed per year.

A study by the Egyptian Initiative for Personal Rights, issued in December, has criticised the project, particularly the fact that after three years of adopting the project, some details remained undefined. These include: the number of units that will be established in each governorate; how many units will be established each year; the percentage of implementation; and the specifications of the units.

The fourth phase of applying for the programme will be launched in February, Madbouly said.

According to the study, the project’s implementation is going “at a very slow rate”, highlighted by the fact that only 57 units of the project have been handed to citizens. This is out of 13,000 units that should have been handed over as the first phase of the project.

The budget allocation for the project in the FY 2014/15 state budget amounts to EGP 9.5bn in total.

January 18, 2015
Arabtec to start building 120,000 residential units February

President Abdel Fattah Al-Sisi met with Arabtec Construction CEO Hasan Abdullah Ismaik on March 9 2014 in Cairo.
(Photo courtesy of the Egyptian Cabinet)

UAE Minister of State Sultan Al-Jaber has told President Abdel Fattah Al-Sisi, during the latter’s visit to United Arab Emirates, that Arabtec’s 1m residential-unit project will commence with 120,000 units next month.

Chairman of Egyptian Steel Ahmed Abo Hashima, who attended Al-Sisi’s meeting with businessmen in UAE on Sunday, told state-run Al-Ahram that UAE stressed it will fully fund the project.

Arabtec earlier announced that it will commence with the first phase of its project before the end of 2014.

In March 2014, the Armed Forces, in cooperation with Arabtec, announced plans to construct 1m residential units for low-income youth on land provided by the Armed Forces. The contract marks one of the largest construction initiatives in the Arab region in the past three years.

The project, announced by Al-Sisi, then the defence minister, falls under the umbrella of the “For Egyptian Youth” initiative. The initiative, which Al-Sisi launched prior to announcing his presidential campaign, aims to address a shortage of low-income housing for young people.

The project will be implemented in four stages over the next five years. The $40bn project will be built at 13 locations across Egypt, with the first homes to be delivered in early 2017.

Arabtec will provide the New Urban Communities Authority (NUCA) with the housing units and public services. The ownership of the project will then transfer to the concerned authorities upon completion.

January 18, 2015
Egypt enters Guinness record with the world’s largest Koshary plate

Preparations of making the world’s biggest plate koshary plate took 4 hours .
(Photo from Experience Egypt Facebook Page)

Colours of the rainbow filling in the roads around the park, the sound of some people’s laughing while they’re impatiently anticipating the unveiling of the huge plate everyone is waiting for. Others are looking between the varieties of restaurant booths to decide what they’re going to eat, and all trying to resist the mouth tasty smell of koshary.

When Egypt tried to get in the Guinness Book of Records, it wasn’t through a new invention or even beating an old one. It was, instead, by making the world biggest plate of koshary at the Koshary Festival.

Koshary is a traditional Egyptian dish dating to the 19^th century in which rice, pasta and lentils are mixed together in one plate with a topping of spicey tomato sauce and some crispy fried onions.

With a huge plate of koshary measuring 10 metres long and in width and of 1.2 metres in height, the plate weighed 7 tonnes, or about 7,000 kg. About 6,000 attendees turned up to the festival, earning it a place in the world record books.

The festival was about launching a new food mobile application called “Engezni”, where people can review food or even order online.

“We wanted to launch the application in a remarkable way, a way that leaves people connected to it,” said Ahmed El-Shenawy, co-founder of “Engezni”. “What’s a better way than entering the Guinness World record with a meal that has a unique print in every Egyptian home.”

The application, which is the work of five American University in Cairo (AUC) students, won the second best mobile application at the University Mobile Challenge, am annual competition part of the Mobile World Congress, the largest international conference and exhibition for mobile technology.

It launched on Saturday on Google play, Android online store, and will soon be launched on Apple’s IOS online appstore.

The festival contained many booths selling different kinds of products other than just food.
(Photo from Experience Egypt Facebook Page)

Earlier this year, its Facebook page reached over 100,00 loyal followers, in which they share everything about food and restaurants in Egypt.

“It’s not just a mobile application, it’s a food social network, where people get to communicate and talk about everything related to food,” said El-Menshawy. “It starts with the taste, quality and prizes of a certain restaurant and even covers online ordering.”

The festival gathered several restaurants in one place, with “over 80 booths selling different kinds of foods to visitors and 20 booths selling several different products”.

“This is one of the biggest gatherings of people sharing common interests, it’s a good opportunity for us to market our work and brand,” said Mahmoud Moustafa, co-founder of Bubblzz Startup , a natural handmade cosmetics brand. “We attended several bazaars and exhibitions and this festival is a great opportunity to directly communicate with as much people as possible.”

The festival started at 11am and lasted till 11pm, ending with a fireworks show and a concert by the Cairookee Band as a celebration of accomplishing the mission.

After distributing the koshary to attendees, The Food Bank took the remaining koshary to distribute to those in need – which ended in up to 8,000 koshary boxes being distributed.

“Koshary is one of the things that makes Egypt unique, so having an event like this would prettify the image of Egypt outside the country,” said Amaa’ Samir, one of the attendees, “tourists always come to try koshary in Egypt, it’s one of the things we know how to do the best.”

Photo from Experience Egypt Facebook Page

Moreover, Nagham Allam finds that having the biggest koshary plate is not only for the Guinness Book of World Records. She sees that it is not just a food, it’s more likely a state of mind and emotion, as “koshary is the one meal the people adore in Egypt” she says with a wide smile.

“It’s a part of the process of our growing up; it’s always connected to family gatherings and happiness. No one eats a plate of koshary by himself in Egypt, it is a remarkable sign for people to gather around it while eating,” she added.

On the other hand, a lot of attendees showed disappointment at the lack of organisation and what many called a waste of money.

After getting in an hour and a half past the scheduled time, they faced the fact that there were no places to sit during the whole event, with the food also sold well over the price it was originally sold at in outside restaurants.

Moreover, there was no one to ask about more details or information about the delay or whether the service equals the price they paid for the tickets, which were sold at EGP 70.

“Even though the idea was originally great, the event was a pure disaster,” said Mohammed Nassar, one of the attendees, “The place was left like a dumpster due to lack of trash baskets and the band was two hours late and no one explained the reason behind.”

Nassar added that even the process of distribution the koshary to the attendees needed more organising, continuing: “The event is for encouraging food tourism; it could have been better selling just Egyptian oriental food instead of all kinds of western food.”

January 18, 2015
Al-Wafd Party aims to compete with former PM in parliamentary elections

Nineteen political parties met at the headquarters of Al-Wafd Party Saturday to prepare a joint list of candidates who will run for the parliamentary elections, scheduled to start in March.
(AFP File Photo)

Nineteen political parties met at the headquarters of Al-Wafd Party Saturday to prepare a joint list of candidates who will run for the parliamentary elections, scheduled to start in March.

“We invited 24 political parties, of which 19 responded,” said Al-Wafd Party’s chairman El-Sayed El-Badawi in a video-statement available on Al-Wafd newspaper’s website. According to El-Badawi, the coalition should represent a “political harmony”.

The meeting comes after President Abdel Fattah Al-Sisi demanded to meet with party leaders ahead of the elections last week, during which he reportedly encouraged parties to form a united coalition, which he would support.

Al-Wafd Party took the lead in calling for an electoral union described by the party’s press statements on their official Facebook page as “a response to Al-Sisi’s suggestion”.

“Let’s clarify the president’s talk about the one-list coalition, as those statements came within a particular context where politicians asked Al-Sisi if he was to support the list of former prime minister Kamal El-Ganzoury, which he denied and said instead he was willing to support a list where all political forces are grouped,” Mohamed Abul-Ghar, chairman of the Egyptian Social Democratic Party (ESDP), said in a televised interview last Wednesday.

However, Abul-Ghar did not attend the meeting. “We believe the list is going to be weak in the face of El-Ganzoury’s; on the other hand we are thinking of collaborating with his rival politician and member of the committee that wrote the constitution passed in 2014, Abdul Gelil Mostafa,” he said.

On the other hand, Shady El-Ghazaly Harb, a member of the Coalition for the Revolutionary Youth, stated during the meeting that Al-Wafd, as a well established party, will be able to group the most renowned politicians, adding that the Al-Wafd alliance could actually be stronger than El-Ganzoury’s list.

Al-Wafd gathered some party leaders, politicians and public figures to form several committees to propose and select candidates that will make the common list. On one hand, there will be a committee in charge establishing a joint memorandum of understanding.

El-Badawi announced that the committee is composed of Samir Ghattas, vice-president of Homat Al-Watan Party (Guards of the Homeland); Ahmed El-Borei, former minister of solidarity and member of Al-Dostour Party, Amr El-Shobaky, Secretary-General of Al-Wafd Coalition and Nabil Zaki, member of Al-Tagammu Party.

Al-Wafd then chose Sameh Ashour, the head of the Lawyers’ Syndicate and chairman of the Nasserist Party, to be responsible for setting the standards of candidates’ selection.

A second committee should decide on the standards to abide by in choosing representative candidates of the coalition, and includes Hossam El-Khouly, Al-Wafd’s Deputy Secretary-General; Amin Rady, Secretary-General of the Conference Party; Mohamed Sami, chairman of Al-Karamah Party; Mohamed Badran, president of Mostakbal Watan Party and Tamer Waguih, president of Al-Reyada Party under foundation.

The electoral list is composed of 120 candidates, on which people vote as a whole, meaning that voting for a list is equal to choosing the 120 members on it. The elected members are to be distributed according to the geographical division of constituencies.

The distribution according to the law divides the list into two 45-name lists and two 15-name lists covering the entire country. Besides those 120 elected candidates, 420 others run as individual candidates, either as part of a political party or independently.

As negotiations continue between various political forces to join efforts and candidates in order to ensure their best representation in a number of parliamentary seats, the Free Egyptians Party headed by Naguib Sawiris remains the only political party determined to stay out of the coalitions.

Furthermore, most electoral coalitions rejected Al-Nour Party, representing the major Islamist force in the upcoming elections, despite the invitation of its chairman Younis Makhioun to Al-Sisi’s meeting.

January 18, 2015
Revolutionary figures angered by media claims of opposition government in Germany

Khaled Ali was named as Minister of Labour in the parallel Muslim Brotherhood government in Berlin, according to the disputed report
(Hassan Ibrahim / DNE File Photo)

An article in popular daily newspaper Al-Masry Al-Youm Saturday claimed a number of revolutionary figures have established an oppositional government in Germany with the Muslim Brotherhood.

The accusations, however, have been widely refuted by many of those named.

The article claimed several prominent leaders and activists are “calling for unity of all the current revolutionary forces in Egypt under the slogan ‘We are the solution’”, as an answer to the crisis between different opposition forces in Egypt.

It stated that as part of the initiative, allegedly announced on Friday, the unified forces have set up an oppositional shadow government in Germany, based on challenging Egypt’s current government and a “return to the constitution of 2012”.

The new “government” is allegedly headed by liberal politician Ayman Nour and lists approximately 40 other names, including famous footballer Mohammed Abu Trika as sports minister, Islamist politician Essam Sultan as interior minister and activist Wael Ghonim.

The article was published on the same day Minister of Interior Mohammed Ibrahim announced that the Brotherhood was attempting to encourage groups to riot on the upcoming anniversary of the 25 January Revolution. Ibrahim claimed these attempts were like a “spreading cancer” to destabilise the nation. On Friday, the Ministry of Religious Endowments issued a similar warning that the group was working in the interests of the “Zionist enemy”.

However, many of the figures named in the Al-Masry Al-Youm article have outright denied the newspaper’s accusations and any affiliation with the Islamist movement.

Speaking to Daily News Egypt, journalist Shahira Amin, named as minister of information, said: “I really want to reject these claims. I have no idea where this story or the names has come from, I only found out about it from the press.”

“First of all, I am against information ministers, one of the demands of the revolution was to do away with this propaganda position,” Amin said. “Secondly, I have absolutely no contact with the Muslim Brotherhood, I am an independent journalist and am not with any regime or political group.”

“This is a very serious charge, to accuse someone of treason so I am really concerned by this. What’s more is that the list is incoherent, many of the people named are in prison,” she told Daily News Egypt. In online comments, Amin added that it was a ploy to “tarnish the image of government critics” and that she intended to file a legal complaint.

The article also described the creation of a shadow ‘National Council for Human Rights’ comprised of prominent activists including imprisoned Alaa Abdel Fattah, Mona Seif, Maieinour Al-Massry, and Wael Abbas.

Daily News Egypt contacted the author of the Al-Masry Al-Youm piece, Bassam Ramadan, who responded that the information used was taken from the Muslim Brotherhood website. However, neither the Arabic or English websites of the banned Islamist movement carry any statements that support Ramadan’s allegations, besides a call for unity and action against the government on the 25 January Revolution anniversary.

A request for comment to the Muslim Brotherhood Press Office based in London on the issue was left unanswered at the time of publication.

Revolutionary activist and lawyer Khaled Ali, named as minister of labour in the article, also took to the internet to comment: “First: I reject the initiative altogether. Secondly, I reject all attempts to put my name in any political initiative without consulting me… Third, I appeal to the media to pursue accuracy in this regard.”

Activist and head of the liberal Al-Dostour Party Hala Shukrallah took to Facebook to comment on the “strange news”. Shukrallah said that if the initiative did come from the Brotherhood then “they are always a century late with their projects, they are far from logical…it is too little too late.”

In December, over a year after the July 2013 regime change, a group designating itself “Egypt’s legitimate parliamentarians” gathered in Turkey under the title of the Egyptian Revolutionary Council.

The Muslim Brotherhood-led figures announced themselves as “those who were elected in free and fair elections, those who true reflect the legitimate voice of the Egyptian people”. However since then there has been little information from the council and it is unclear whether there is deemed to be any relation with the report of an oppositional government in Germany.

January 18, 2015
Al-Sisi in Abu Dhabi for high-stakes energy summit

Egypt’s President Abdel Fattah Al-Sisi alongside Mohammed bin Zayed bin Sultan Al-Nayhan, Crown Prince of Abu Dhabi and deputy supreme commander of the UAE Armed Forces
(Photo from Presidential Spokesman )

By Abdel Razek Al-Shuwekhi and Marina Makary

President Abdel Fattah Al-Sisi arrived in Abu Dhabi on Sunday to attend the 2015 World Future Energy Summit (WFES), an annual event held under the auspices of the Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan.

Al-Sisi’s visits to the UAE comes ahead of the Sharm El-Sheikh Economic Summit, which will be held in March to support Egypt’s economic development

“This visit holds great importance,” said Yomna Hamaqy, a professor of economics at Ain Shams University. Hamaqy believes that Al-Sisi’s participation in the Abu Dhabi summit will help Egypt benefit from the Emirati experience in the field of new and renewable energy, and at the same time will offer the president an opportunity to meet with major global companies operating in the field.

WFES is one of the Middle East’s largest gatherings on the future of energy. More than 30,000 leaders in government, industry, technology, and finance are expected to attend the event, which is scheduled to run between 19 and 22 January, according to the WFES website.

According to an economic report issued by the Emirati Embassy, the UAE has allocated more than $10bn in development aid to Egypt in 2014. A total of $1.5bn was allocated to build 50,000 housing units and 100 schools, renovate and build 25 silos with a capacity of 1.5 million tonnes, and provide electricity generated from solar power to 62,000 homes.

Alongside the UAE, Saudi Arabia and Kuwait became some of the biggest supporters of the Egyptian economy after the ouster of President Mohamed Morsi in July 2013.

Hamaqy explained that one of the main challenges facing Egypt is that the investment law remains under fire for its alleged lack of vision. Investment Minister Ashraf Salman announced in press statements that the government will complete the unified investment law before March.

“We will work to solve investors’ problems and eliminate bureaucracy,” Al-Sisi said in relation to the law.

According to Finance Minister Hany Kadry Dimian, Egypt obtained support from the three countries worth EGP 95bn, most of which was in-kind petroleum assistance.

The price of oil dropped in global markets to less than $47 per barrel this week, according to former Vice President of the Egyptian General Petroleum Authority (EGPC) Medhat Youssef, who feels that this will affect Gulf support, especially the UAE’s support, to Egypt in the near future.

“Relations between Egypt and the UAE do not have to be limited to receiving aid, as political relations are strong,” Youssef said.

President Al-Sisi’s visit is a positive message for investors in the new and renewable energy sector, according to former Vice President of the Egyptian Gas Holding Company (EGAS) Hamed Qarqar.

Qarqar feels that the UAE has injected a high volume of investments, in addition to petroleum aid to Egypt in recent times.

Egypt is currently suffering the effects of increasing electrical loads due to a growth in private power consumption in the summer months, and as a result the Ministry of Electricity aims to generate an additional 3600 MW of electricity next summer.

Al-Sisi has stated that solving Egypt’s electricity crisis requires $12-13bn.

The Abu Dhabi summit could also result in improved ties between Egypt and Qatar, according to Mohamed Ezz El-Arab, an analyst at the Al-Ahram Center for Political and Strategic Studies.”A possible meeting between Al-Sisi and Qatari Emir Tamim bin Hamad Al-Thani might strengthen the ties between Egypt and Qatar, based on several conditions,” he said.

Ezz El-Arab believes that a complete reconciliation process will only take place if Qatar changes its media policy and ends its support for the Muslim Brotherhood.

He added that Al-Thani should also put an end to what he referred to as the “Turkish-Qatari coalition” that “threatens Egyptian national security”.

Tensions between Qatar and Egypt have eased in recent months, after several senior Muslim Brotherhood figures left Doha. In a further sign of improving ties, Al-Sisi met the Qatari Emir’s special envoy Sheikh Mohammad bin Abdel Rahman Al-Thani last month in Saudi Arabia.

Al-Sisi’s participation in the Abu Dhabi summit represents his first trip to UAE as president of Egypt. Upon his arrival on Sunday, he was received at the Presidential Flight Airport by the crown prince. Later in the day, he attended official welcome ceremony in Al Mushrif Palace in Abu Dhabi. Al-Sisi is expected to deliver a speech at the WFES 2015, at the invitation of the crown prince.

January 18, 2015
Faten Hamama’s shining star fades away

Faten Hamama’s shining star fades away

To grow up in Egypt means having a part of their childhood spent watching Faten Hamama’s films and series’. Back in the 1950s, she was the one who taught girls the meaning of class and beauty, and gave boys an image of the girl they love the most. Her love story with the famous actor Omar Sherif was the Egyptian version of Romeo and Juliet, and to watch an interview of hers on TV was a big event.

Hamama closed her eyes for the last time last on Saturday at the age of 84, leaving behind millions of beloved and loyal fans crying for their loss.

The star icon remained a fashion model and an idol of modernism and morality her whole life, and left a treasure trove of over 94 films in which she appeared.

Hamama was known as “the lady of the Arabic screen”, and was one of Egypt’s most prominent actresses from the 1950s to early ’70s.

Prayers over the prominint actress
(Photo by Bora S.KAMEL)

She was born in a small village near Daqhaleya, northwest Egypt in 1931. She started her path on the silver screen in 1940 when she was just nine-years-old, appearing in the film “Nhar Saeed” (“A Happy Day”).

She met the famous Egyptian actor Omar Sherif when they were shooting the film “Seraa’ Fel-Wady” (“A Conflict in the Valley”) together, and they fell deeply in love. So much so that Omar Sherif converted to Islam to marry her.

Hamama was known to discuss social problems in her work, such as in the famous film “Embratoreyet Mem” (“The M Empire”). In this, she played the role of a single mother caring for six children of varying ages, whilst also trying to live a life separate from her responsibility towards them.

Also, there was the film “Afwah w Araneb” where she discussed the problem of birth control in the country side.

January 18, 2015
Dollar value rises to EGP 7.19, further 5% devaluation expected

The value of the US dollar rose against the Egyptian pound in the official market to register EGP 7.19, compared to the EGP 7.14 rate that lasted over the past six months.
(AFP photo)

The value of the US dollar rose against the Egyptian pound in the official market to register EGP 7.19, compared to the EGP 7.14 rate that lasted over the past six months.

In December, the Central Bank of Egypt raised the number of weekly bids for the dollar (known as the FX auction) from three to four tenders.

The CBE then stated that it will raise bids of $40m four times a week, to supply a total of $160m, instead of $120m.

After this announcement the value of the dollar versus the Egyptian pound ranged between EGP 7.70 to EGP 7.75 in the unofficial market, Pharos Holding indicated in an official statement.

“We expect the CBE to administer an orderly devaluation before March 2015,” Pharos Holding said Sunday.

A recent report issued by HSBC stated that further devaluation in the Egyptian pound is expected in 2015 and 2016. The bank highlighted that the dollar will reach EGP 7.50 in 2015, and rise to EGP 8 in 2016.

Managing director of Pharos Holding Hany Genena expected that the government will face pressure “to put an end to the parallel market [black market]” prior to the Economic Summit, which is expected to take place mid March.

Ending the black market will help Egypt avoid losing the investors’ interest, which could occur due to concerns over currency risks and policy effectiveness.

“Based on the above, we see a 5% devaluation versus the US dollar as imminent,” Genena said.

January 18, 2015
UN Population Fund, Egyptian government to ‘re-energise reproductive health, youth policies’

The UN official also announced a new collaboration with the Egyptian government featuring policies aimed at reproductive health, family planning, and social economic development.
(AFP Photo)

Reproductive health, youth policies and development are in need of re-energising according to Dr Babatunde Osotimehin, Under Secretary General of the United Nations and Executive Director of the United Nations Population Fund (UNFPA). Osotimehin, who was speaking in Cairo, in collaboration with the Ministry of Planning, also said that female empowerment is also critical.

The UN official also announced a new collaboration with the Egyptian government featuring policies aimed at reproductive health, family planning, and social economic development.

The strategy, set out by Egypt’s Ministry of Planning, would stretch over a 15-year period, from 2015 to 2030. It would be divided into 12 major focal points including: access to education, social justice, transparency, efficiency of government intuitions, urban development, culture, and public health.

Osotemehin emphasised the importance of passing adequate information to young people as they grow from infancy to adulthood, “teaching young people to take responsibility for life skills development and teaching young people to take responsibilities for their decisions”.

He added that it was necessary to train people to deliver information on family planning supplies, because “30% of women would remove family planning commodities after a year”.

The UNFPA offers assistance to developing countries for population assistance, HIV and AIDS prevention, gender equality promotion, emergency assistance, and adolescent and youth support. However, Ostemhin did mention that a hurdle would be obtaining adequate resources for the new strategy.

“To make sure services could be offered free of charge, along with social protection, there would be the need for human resources, a proper chain management system for health supplies, and a good management system for money services,” he said. “Women must have access credit capital family planning.”

To coordinate efforts, he held a series of meetings over a two-day period with high officials, ambassadors, representatives from the international community, civil society organisations, the private sector and representatives of national institution. The meetings were to “discuss ways to mobilise this political platform for addressing the different challenges and needs in the Arab States region, explore best means of advancing the population agenda, and strengthen humanitarian response efforts in the region,” a UNFPA statement said.

The meetings included dialogues with Prime Minister Ibrahim Mehleb, Minister of Health Adel El-Adawi, Minister of Planning Ashraf El-Araby, and business tycoon Naguib Sawiris.

Osotimehin also added that an outreach programme must be conscious of the cultural context working in different areas and the UNFPA would be working with civil society and religious leaders also.

“We have to work with every stake holder so girls go to school,” he said.

January 18, 2015