Legacy of Resilience: The Entrepreneurial Journey of Mahmoud El-Araby
First Bank
Mahmoud El-Araby, nicknamed Shahbandar Al-Tujar (Merchant Shahbandar), is one of the prominent resilient businessmen. He embarked on his journey from scratch, rising to become a key figure in trade, industry, and the economy. Most Egyptians admire him, whether through getting to know his authentic Egyptian personality up close or using products from his companies.
Born in Al-Monufia Governorate, he faced challenges early in life, losing his father at a young age and receiving no formal education beyond primary school. Mahmoud El-Araby started his business life early, using a corner of his home as his first store, selling simple children’s toys during holidays. Over time, he saved money from sales and profits to buy more toys. Later, he worked in Cairo as a seller in various shops, striving for independence in trade.
Facing the challenge of starting his own business, Mahmoud and a friend decided to collaborate with a wealthy individual. Their contribution would be their effort, while the third party would provide the capital. With a project capital of 5,000 Egyptian pounds, he established his first store in the “Al-Moski” area in Cairo, a store he still owns to this day.
His friend fell ill just three days after starting their new venture, during which Mahmoud single-handedly managed the store. His business quickly thrived, surpassing the profits of 10 combined stores. Al Araby became known for his honesty, a key factor in his unparalleled success.
The partnership lasted two years, marked by disagreements over the withdrawal of the sick partner. Mahmoud opposed this, leading to the dissolution of the company. He and his partner bought another store, and the former partners offered him their store again. Consequently, he owned two stores instead of one, along with his partner’s sick son. Later, his brothers joined him as his business expanded, turning the company into a joint-stock corporation.
Initially focusing on office and school supplies, the government’s decision to provide school supplies to students for free in the 1960s led him to shift his business entirely to electrical appliances in the mid-1970s. With the economic openness policy, he sought a dealership with a global company. A Japanese acquaintance studying at the American University in Cairo recommended him to Toshiba, leading to him securing the dealership.
Visiting Japan, he saw the company’s factories and requested the establishment of a factory in Egypt. This became a reality, with local production reaching 95%. Toshiba Al-Araby Company was established in 1978.
He was elected to the board of directors of the Cairo Chamber of Commerce in 1980, serving as its secretary. In 1995, he was elected president of the Federation of Chambers of Commerce.
Toshiba Al-Araby received the highest Japanese honor, the Order of the Rising Sun, personally awarded by the Japanese Emperor. This recognition was for his role in supporting Egyptian-Japanese relations.
Toshiba Al-Araby passed away in 2021 at the age of 89. His journey of struggle and determination remains an inspiration for generations, emphasizing the value of hard work and diligence as the only path to success.
