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Back from the brink: How Gourmet Egypt survived the float of the EGP
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.com See omnystudio.com/listener for privacy information.
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