In the first appearance of Mahmoud Noah: I am in Dubai and I did not receive a notice of drawing

10:31 PM

Saturday 10 September 2022

Books – Hassan Morsi:

Mahmoud Noah, Chairman of the Board of Directors of Kapiter, said that he is in Dubai and the news of his escape outside Egypt is false and did not occur, adding: “I attended the board of directors meeting on Thursday before last, and I did not receive an official notification of any dismissal from the Board of Directors.”

Noah said, during a telephone interview with the media, Amr Adib, on the “Al-Hekaya” program, broadcast on the “mbc Egypt” satellite channel, this Saturday evening: We were exposed to a financial crisis as a result of global economic conditions, and the loan funds were spent on the company’s business and expansions.

Mahmoud Noah, Chairman of the Board of Directors of Kapiter Company, added: We want the company to complete even though the company’s obligations are more than its assets and there is turmoil from the companies dealing with us. Egypt is normal.

Mahmoud Noah confirmed that he did not escape the 33 million dollars outside Egypt, but this amount was from a financing round in September 2021, and it was spent on the company’s business, explaining: There is an Emirati company with 19 investors that owns Capiter, and he and his brother were among the founders of the company. .

For his part, Mohamed Nagati, an investor and entrepreneurial expert, commented on the crisis of the emerging Capiter, saying that the solution is for a foreign investor to enter to buy the company and solve all the problems related to it.

He pointed out, through an intervention with the media, Amr Adib, that Egypt is in the 17th or 18th year of entrepreneurship, pointing out that the entrepreneurship sector has entered investments worth 50 billion pounds in the last 10 years and now employs about one million people.

And the entrepreneurial expert continued: “From 10 to 15% of start-up companies can complete in the market, the rest die, and startups in Egypt move from the growth stage to the screening stage.”

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