Elmenus, the Cairo-based food delivery platform, has appointed Walid El-Saadany as its new chief executive, replacing founder Amir Allam who steps down after 14 years. The move marks the latest in a series of high-profile leadership transitions within Egypt’s technology startup ecosystem, reflecting a sector grappling with the pressures of scaling, investor expectations, and intense competition.
Allam, who founded the company in 2011 with “$5,000, a laptop and two teammates,” described the journey as growing a brand that “impacted millions.” He stated that it is now the right time to “pass the baton” as Elmenus enters its next phase of growth.
The new CEO, El-Saadany, is a seasoned industry figure, having previously led Elmenus’ main competitor, Otlob (now Talabat), for five years from 2015 to 2020. His tenure there included navigating two major acquisitions, first by Foodpanda and subsequently by global giant Delivery Hero, giving him direct experience in scaling a food delivery business under corporate ownership.
“Elmenus is at an inflection point,” El-Saadany said in a statement. “We’re entering a new chapter, one rooted in local relevance and powered by world-class execution.”
The leadership change comes as Elmenus, which has raised $30 million to date from investors including Fawry, Luxor Capital, and Global Ventures, seeks to accelerate its expansion. The company, which began as a food discovery website, is the most prominent local challenger to the market leader Talabat, though it operates on a smaller scale.
Under El-Saadany, Elmenus plans to scale beyond its strongholds of Cairo, Giza, and Alexandria, aiming to onboard over 4,000 new restaurants in underserved cities. It currently lists 1,000 restaurant partners. The company also announced plans to enhance its app with AI-driven features for smarter discovery and faster delivery.
A Wider Trend of Recent Leadership Shuffles
The CEO change at Elmenus is not an isolated event. It is indicative of a broader maturation phase in the Egyptian startup scene, where founders are increasingly being replaced by experienced executives to steer companies through complex growth stages.
In February, Instabug, an Egyptian-founded mobile app observability platform, announced that co-founder Omar Gabr was stepping down as CEO after 13 years. The transition came two years after a significant $46 million Series B funding round led by Insight Partners. Gabr moved to the role of President, with seasoned technology executive Jim Douglas taking the CEO position to lead the company’s next scaling push.
Such planned transitions contrast sharply with more disruptive leadership changes. In late 2022, the board of B2B e-commerce startup Capiter removed its co-founders, Mahmoud and Ahmed Nouh, from their executive roles, citing a failure to fulfill “fiduciary duties.” The company, once a promising player in the market, subsequently collapsed, serving as a exemplary tale of how leadership disputes can prove fatal.
A Highly Competitive Market
The pressure for strategic evolution at Elmenus is amplified by the dominant performance of its main rival. Talabat, part of the Delivery Hero group, recently reported a near fourfold increase in net income to $103 million for the first quarter of 2025. The Dubai-headquartered company, which operates across eight MENA markets, saw its Gross Merchandise Value (GMV) — the total value of orders processed — climb 30% year-on-year to $2.1 billion.
This robust profitability and scale highlight the immense challenge facing local players like Elmenus, necessitating sharp strategic execution and experienced leadership to compete effectively.
However, investor confidence in Egypt’s food-tech sector remains. Swedish investment firm VNV Global recently reported that its stake in the online grocery startup Breadfast is now worth $30.2 million, nearly double its initial 2021 investment of $16.9 million. This implies a current valuation for Breadfast of approximately $382.3 million, signalling that there are still significant opportunities for well-managed local companies to thrive.