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Tuesday, 12 November 2019

Head of Egypt's Wafd Party to answer monopoly charges

Business tycoon and political operator El-Sayed El-Badawi is called on to answer accusations that his Sigma media company had unfairly monopolised TV ad production

Ahram Online, Wednesday 30 Jan 2013
Al-Sayed al-Badawi
Egypt's Liberal Wafd party chairman Al-Sayed al-Badawi (Photo: Reuters)
Views: 1099
Views: 1099

Egypt's Public Funds Prosecution on Wednesday summoned El-Sayed El-Badawi, head of the liberal Wafd Party, to answer charges that his Sigma media company had engaged in monopolistic practices regarding the production of advertisements aired on private television channels.

In October of last year, a lower court found El-Badawi guilty of fraudulent practices. He received a sentence of three years in jail, but posted bail set at LE10,000.

El-Badawi, a business tycoon, has been a leading member of the Wafd Party since 1989, serving as its secretary-general before being elected party chairman in 2010.

El-Badawi is also currently a leading figure in Egypt's National Salvation Front (NSF), an umbrella group that brings together a number of opposition parties and movements.

The Wafd Party represents Egypt's oldest liberal party. Since the 2011ouster of president Hosni Mubarak, the party has emerged as an influential player in Egypt's post-revolution political arena.

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