I was as surprised – correction, shocked – as everyone else last Thursday when the central bank of Egypt announced yet another raise of benchmark interest rates by 200 basis points for the second time in a matter of months. My initial reaction was one of deep concern. How could they do this, again?

As we were all fixated on the clearing, cleaning and gentrification of our streets last week in preparation for the much anticipated arrival of Pope Francis, another more inconspicuous but no less miraculous event was taking place. A mystical story of rebirth. The return of a legend. Enter, stage right the man himself, the father of the modern Egyptian economy – Talaat Pasha Harb.  

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Aly El Shalakany

 

is a Senior Partner at Shalakany, a corporate law firm in Egypt, which he joined from Linklaters in London. Aly is a noted specialist in finance, projects and mergers and acquisitions. Aly is also the Chairman of the Cairo Angels, one of the leading angel investment groups in the Middle East and Africa.

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