🔗 Cigarette manufacturing license tender criticized for preserving monopoly of state-controlled Eastern Tobacco
Eastern Tobacco, in which the government owns the majority 55 percent stake, has long held a legal monopoly on cigarette production in Egypt, allowing it to achieve major profits for state coffers. The company’s net profits have grown significantly in recent years, rising from LE908 million in 2014 to more than LE4 billion in 2018.