Despite pro-business talk, Egypt’s army grabs whatever it wants
Save time by listening to our audio articles as you multitaskJuhayna’s troubles began when the Egyptian state decided to take it over. After its founder, Safwan Thabet, refused to hand over a controlling stake, he was thrown into a prison notorious for torture. When his son, Seif, refused the same deal, he joined his father in jail.
The Thabets were once part of the establishment. Safwan was chummy with Egypt’s previous autocrat, Hosni Mubarak. He flew abroad with state delegations to woo investors and advised ministers. After Mr Sisi became president in 2014, the older Thabet donated 50m Egyptian pounds to the Long Live Egypt fund for development projects. Mr Sisi happily took cash from members of the Thabet family, despite their supposed links to terrorism.
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