Tanweer

Tanweer is Citadel Capital’s investment vehicle in the media and retail sector. It owns a number of investments in leading regional companies, namely the publishing house Dar El-Shorouk, book retailer Diwan and Al-Mal newspaper.

Founded in 1968, Dar El-Shorouk is one of the most prominent publishing houses in the Arab world. It owns copyrights to more than 4,500 titles and is the most award winning publisher in the region.
The publishing house has the exclusive Arab world rights to best-selling authors including the works of Egyptian Nobel laureates Naguib Mahfouz and Ahmed Zewail. It also owns the license to print and publish Oxford Educational books. In addition, Dar El-Shorouk owns 10 retail bookstores, a TV production arm and has recently expanded into production of television programs and series.

Diwan has emerged as Egypt’s premiere chain of boutique bookstores since it opened in 2002. Today, the company has eight branches, mostly in Cairo and Alexandria and has plans for both national and regional expansion as it forges partnerships with writers, publishers and cultural centers. Diwan also has distribution rights to five international music labels and distributes music CDs to local retailers.
Al-Mal newspaper is a specialized newspaper with in-depth coverage of local banking, financial markets, and several industrial and commercial businesses.

OPERATIONAL UPDATE

In 2010 El Shorouk expanded their visual production to include sitcoms and TV series; their first production Ayza Atgawez achieved a very high viewership rate during last Ramadan. Management intends to grow that line of business further over the coming period.

Diwan applied a successful cost-cutting plan that touched on all aspects of the business and focused on improving its overall team efficiency and productivity. The initiative undertaken by Diwan’s management yielded very positive financial results.

On a similar note, Al Mal implemented an ambitious restructuring plan during 2009, and 2010 saw it become a profitable operation.