Back from the brink: How Gourmet Egypt survived the float of the EGP (Ep 1)

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 Making It here for free: 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: * Gourmet: GourmetEgypt.com * Enterprise: Enterprise.press * Inktank: Inktankcommunications.comSee omnystudio.com/listener for privacy information.

Om Podcasten

Making It is a show about building great businesses in Egypt, produced by Enterprise, the daily brief on all matters business, finance, and economics. Each episode brings you a one-on-one sit-down with a CEO or founder at the top of their game. They are leaders at the helm of businesses going through different stages of growth and they discuss with us the issues they face, the challenges they have to overcome, and what it takes to “Make it.”