Egypt’s social, economical, and political situation posed obstacles for local businesses to grow and expand, but there was still an opportunity for them to showcase their creative solutions to solve Egypt’s most pressing developmental challenges. Even before 2011, Egypt’s economy had taken a downturn after the 2008 Global Financial Crisis, notably characterized by a hike in food prices. It took a harder hit after the 2011 revolution, when tourism, an important sector of Egyptian economy, plummeted. As a consequence, Egypt’s foreign exchange reserves fell from $36 billion in December 2010 to only $16.3 billion in January 2012. However, all hope was not gone for local businesses. According to the Central Bank, Egypt’s net foreign reserves reached $44.14 billion at the end of May; it also secured a $12 billion, three-year International Monetary Fund loan in 2016 as part of efforts to avert the collapse of the economy. Since then, import-dependent Egypt has been trying to woo foreign investors and revive its ailing economy. Although global Egyptian businesses were hit hard by the Egyptian currency devaluation resulting in a 6-year absence of Egyptian businesses from Forbes list of Global 2000, as…
