As I reported to you, the Gulf countries that previously transferred billions of dollars to Egypt's coffers "turned off the tap". Yesterday an interesting statement by an Egyptian billionaire that does not bode well for the Egyptian president.
 
Sameh Sawiris, a prominent businessman, stated yesterday that he has stopped investing in the Egyptian market and directs his efforts to the Saudi market. He explained that the uncertainty in the Egyptian market as well as the difficulties that the government faces in front of the private sector led him to the decision.
 
Sisi's opponents "celebrate" this statement and claim that it indicates that the Egyptian business community is abandoning the president. Al-Sisi's supporters are severely attacking Sawiris.
 
This statement cannot be underestimated. Sameh belongs to the richest family in Africa with assets all over the world worth about 13 billion dollars. If indeed the family reduces its activities in Egypt, it is a severe blow to al-Sisi's efforts to get the economy out of the mud as it will signal to other investors to avoid the Egyptian market.