Tensions rise between Sisi and business sector
The relationship between President Abdel Fattah al-Sisi and Egypt's business community might be undergoing tensions after Sisi declared that businesspeople should donate funds to the state to support the country's economy.
The relationship between Egyptian President Abdel Fattah al-Sisi and Egyptian business leaders remains ambiguous, but there are indicators that suggest tensions between the two or the likelihood of their developing as Egypt works through a period of transition.
As a presidential candidate, Sisi held a May 8 meeting with business leaders at which, according to some media outlets, he asked them to donate 100 billion Egyptian pounds ($13.9 billion) to the state “to support the Egyptian economy.” In a later television appearance on May 18, Sisi confirmed that he had indeed done so. After he was elected, Sisi renewed his call, urging businesspeople to donate to what he called the Long Live Egypt Fund. According to some news sites, including Veto and Wadymasr, the fund has thus far received 9 billion pounds ($1.25 billion), while Sisi has set a target of 100 billion pounds ($13.9 billion).
