BEBA: The Voice of the Private Sector - Building Trust, Expanding Horizons
Updated 4/9/2024 8:00:00 AM
Arab Finance: Since 1996, the British Egyptian Business Association (BEBA) has driven economic cooperation and growth between Britain and Egypt.
In this exclusive interview with Nadia Lamloum, CEO of BEBA, we delve into BEBA's vision, its role in propelling British-Egyptian business, and its strategies for empowering small- and medium-sized enterprises (SMEs) and fostering a sustainable future.
We also explore the dynamic landscape of business collaboration and BEBA’s future aspirations in enhancing economic ties between these two nations.
1-Since taking the helm at BEBA, what has been your vision for the organization? And how has that translated into your overall strategy?
My vision was for BEBA to become one of the most successful business organizations in Egypt. Implementing this strategy has paid off, with BEBA now recognized as the voice of the private sector.
By building trust and enhancing personalized communications with our members, main stakeholders, government officials, and the UK Embassy, we have opened doors, expanded the horizons, and maintained a strongly engaged membership.
2-BEBA has witnessed significant growth in membership since its inception. What factors do you attribute to this success? And how do you plan to maintain this momentum?
As mentioned before, the secret to a successful membership engagement strategy is to provide more value than the cost our members are paying.
Members are our main assets; therefore, it is important to listen to their needs and engage them in brainstorming sessions, discussing activities, etc.
3-BEBA offers a diverse range of services to its members. Can you elaborate on some of the most successful initiatives undertaken by BEBA to support British and Egyptian businesses?
I believe that conducting regular business missions to the UK provides a unique platform that brings together key government officials and key players in different sectors to openly discuss challenges, opportunities, and ways forward.
The mission also facilitates valuable networking opportunities and bilateral meetings and delivers a strong message that Egypt is open for business.
4-Advocacy and lobbying are crucial aspects of BEBA's work. Can you share some recent examples of your successful interventions at the government level on behalf of its members?
BEBA, as a door opener and a catalyst for change, has developed a strong relationship with government officials and the Prime Minister’s office.
Having said that, we regularly present to the government the main challenges that are hindering our members’ business and investment opportunities.
Furthermore, we facilitate one-on-one meetings for our members with ministers and key government officials.
5-How does BEBA assist and empower SMEs within the British-Egyptian business community?
We organize focused roundtables and seminars with key stakeholders to assist and support SMEs.
Additionally, BEBA offers networking opportunities, serves as a platform for strategic business interactions, supports the development of business opportunities, and acts as a catalyst in addressing business challenges.
Through these services, BEBA helps SMEs in the British-Egyptian business community to connect, grow, and thrive.
6-How is BEBA promoting sustainable business practices among its members?
BEBA organizes awareness events that highlight the importance of the private sector in achieving the Sustainable Development Goals (SDGs).
We have recently organized a panel discussing the role of various stakeholders, particularly the private sector, in driving positive change and addressing global challenges.
Among the speakers were Vodafone, PricewaterhouseCoopers (PWC), representatives from the United Nations Development Programs (UNDP), and the Arab League.
7-Does BEBA collaborate with other business chambers or organizations to further its mission? If so, can you elaborate on some of these partnerships?
BEBA has a strong network with business organizations in both Egypt and the UK. In Egypt, we share our mutual events, discuss business-related issues, etc.
As for the UK, we have a strong business relationship with a number of UK business chambers, such as the Egyptian British Chamber of Commerce, the Arab Bankers Association, the Arab British Chamber of Commerce, the London Chamber of Commerce, etc.
8-Can you elaborate on the workshops and seminars organized by BEBA to address current key business issues, for example, the issue of dollar availability? And how do these events contribute to the business community's knowledge and growth?
We have recently organized a panel discussion entitled "In Search of Dollars: Exporting Real Estate to Support Egypt's Hard Currency Reserves."
Its objective was to explore unconventional approaches to generate much-needed dollars. We also organize awareness webinars to attract and encourage British businesspeople to participate and engage in the Q&A session.
9-How does BEBA organize trade missions between the UK and Egypt? And what benefits do these missions bring to participating companies?
As mentioned before, the business mission to the UK provides a unique opportunity to interact with Egyptian officials and C-level executives to discuss business and investment opportunities between both countries.
10-Looking ahead, what are the future goals and aspirations of BEBA in further enhancing economic cooperation between Britain and Egypt? And how do you plan to achieve them?
Our aim is to strengthen the message that Egypt is open for business. With the recent deal of Ras El Hekma development and the upcoming deal regarding Ras Gamila, the course of the Egyptian economy has changed.
The Egyptian government has overcome its current challenges, which is a significant step forward.
The increase in Egypt’s foreign currency reserves will help stabilize the pound exchange rate. Furthermore, this deal will create millions of job opportunities, stimulate economic growth, and attract more tourists to the country.
Having said that, this deal has sent positive signals to investors, boosted the confidence of regional investors and developers, and kept the confidence of traditional investors in the oil and gas sectors (BP, Shell, etc.), even though the payment of the receivable has slowed down.
In addition, four memoranda of understanding (MoUs) have been recently signed in the green hydrogen sector.
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