– You have been working in Egypt for several years now, and today your business shows excellent results there. But obviously, the beginning was not easy. How did it all start?

– I was ready to pay for the “entrance ticket” to the Egyptian market. That ticket cost me millions of dollars. Mistakes and failures – that was what our start looked like. But step by step, we built relationships with local authorities, with producers of pasta, animal feed, and bakery products. Now we no longer count losses, we generate income.
For us, there was no way back: the war had begun in Ukraine, trading had to be saved. In addition, you see what is happening now with business in Ukraine – the tax authorities are literally destroying it: delays with VAT refunds, constant new rules for customs clearance. We realized in time that nothing good would happen in the near future and decided we would fight for other markets.

Was there a moment when you felt that without external support the company would not survive?
– There would be no success story in Egypt at all if one of the largest Swiss funds had not given us a shoulder to lean on. They provided us with a financial cushion of 30 million dollars. This allowed us to continue working, and moreover, in a country where there are no military risks. That’s how we began developing business in Egypt while at the same time repaying our old debt. This fund was the first to hear our signal: without new funds, the assets would disappear and creditors would get nothing. But if you give the company a chance to work – it will repay everything gradually. That’s exactly what happened: today Prometey repays the principal of the old loan and services the interest on the new one. This is an example of healthy financial logic during wartime: a creditor who does not act by template ultimately gains more.

What was the turning point in the development of your business in Egypt?
– Probably when we realized that we had finally “joined” the Egyptian business family. I say “family” because that’s how it works there: you are either accepted or not. To achieve this, you need to meet many criteria, not only price. My Eastern roots helped me – I understand the mentality of Egyptians well. Another serious step forward was renting a terminal in Alexandria.
Now we have excellent relations with the state and have reached the mark of 800 thousand tons of grain sold. We trade wheat, corn, oil, sunflower and soybean meal, and even sorghum.

How did you manage to get a state contract from Egypt?
– In fact, they approached us themselves. We demonstrated professionalism and financial reliability. They trusted us, we trusted them. And a contract was signed. But I always emphasize: a strong business, like a real man, must have a plan “B.” And we always have one.

The first years in Egypt were full of challenges. What do you remember the most?
– There were many losses. We trusted people who let us down, invested in dubious instruments, suffered from currency fluctuations. The greatest tragedy was the sinking of a ship carrying our industrial salt – 13 crew members died. It was both a financial and a moral blow.
But I am not the kind of person who gives up. It was my idea, and I fought to the end. And now we have a stable business and a good reputation in Egypt.

If you compare Ukraine and Egypt, where is it easier to do business?
– These are completely different worlds. In Ukraine, before the war, we had excellent conditions for business development, and it was working successfully. But the war changed everything. Four of our elevators ended up under occupation. The “Voznesensk” facility was shelled with cluster munitions, “Snihurivka” was practically leveled to the ground. The Zolochiv facility was hit by rockets four times. The elevator in Velyka Oleksandrivka, in Kherson region, was almost completely destroyed. And already this year, in early June, an aerial bomb destroyed the “Haichur” elevator. In total, five of our enterprises ended up in the “gray zone.” Nearly 200 thousand tons of grain were lost.
Due to severe drought, we did not open another five elevators. We could have stopped. But I decided to move forward. I want the Ukrainian authorities to finally understand: businessmen who remain working in Ukraine are the people who must be protected. Destroying them is easy, bringing them back to Ukraine – almost impossible.

What would you like to change in the attitude of the state toward business in Ukraine?
– I would like the Ukrainian authorities to finally change their attitude toward entrepreneurs. For example, in Egypt the state has radically changed its approach to business – here it is literally “carried in their hands.” In three years of working here, I still don’t even know where their tax office is. We don’t even have a full-time accountant, because the services of an auditing company are enough, and it costs us relatively little.
For a long time, I was looking for a catch, trying to understand why it is so easy to work with taxes here. It turned out to be simple: for transparent business, the tax authorities only need, in case of inspection, to request information from the bank. Income and expenses are immediately visible. The most important thing here is to pay 1% of turnover. And that’s all. But if you don’t do this – the problems will be serious. However, the conditions are transparent and clear.

Why, in your opinion, did Egypt’s business climate turn out to be more favorable than Ukraine’s?
– Just a few years ago, the business climate in Egypt was worse than in Ukraine. But now the situation is the opposite. Because in our country, the VAT refund process is literally political. If you are resourceful, if you can “manage things,” you will get the VAT refund. But if you are honest and act strictly according to the law – you are a victim. In Egypt, however, VAT practically does not exist. If a small amount does accumulate, it can be used to pay other taxes.

Did your experience working in the Middle East change you personally?
– Yes. Egypt taught me to be more patient and cautious. And I also became much stronger. The war almost destroyed my business and should have destroyed me as a businessman, but it didn’t happen – I simply couldn’t allow it. And I am sure that in a few years I will again be financially at the same level as before the war, and even higher. Thank God everyone is alive and healthy, and my many years of business experience are bearing fruit.

What are your further plans? Will you expand business in Egypt?
– In Egypt we are not planning to build infrastructure. That is “long money,” and right now we are very cautious about such decisions. We are thinking about investing in agricultural production, namely: growing corn, wheat, soybeans. We already have several projects in progress. Trading, however, brings quicker results. That’s why today we are taking the first steps in other East African countries. We’ll see where this takes us.

What advice would you give to young Ukrainian traders who are just starting out?
– Think strategically. Infrastructure is the key. Without elevators, trucks, land, offices, and a strong team you won’t get far. Look at transnational companies – Louis Dreyfus, Bunge, Cargill. They have offices and representatives all over the world. All over the world they do real trading, trading in the “local market.” That’s why they can stay afloat and earn money. Without a full cycle, infrastructure, and offices in other countries, pure “buy-sell” trading is impossible, it will not work. Let me reveal a secret: only fraudsters work like that – they build up their name as traders, and then leave the market together with farmers’ money. My advice is simple: build systems, not random deals. Only then will you have a future.

What is your greatest personal motivation?
– Faith drives me. Faith in the idea, in my team, in the fact that even in the darkest times something strong can be created. I am not one of those who gives up.