Egypt Targets $5 Billion Investment in Entrepreneurial Sector
The Egyptian government has revealed plans to boost entrepreneurship with strategic investments.
The Egyptian government has set a target to increase investment in the country’s entrepreneurship sector from $500 million to $5 billion, aiming to drive economic growth and foster innovation.
This goal was announced by Prime Minister Mostafa Madbouly during a recent meeting with leaders from ten of Egypt's most prominent entrepreneurial firms. Recognizing the importance of supporting entrepreneurship, especially given Egypt’s large and youthful population, the government is launching strategic efforts to stimulate the sector.
To facilitate this goal, a special ministerial committee has been established under the leadership of the Minister of Planning and Economic Development. The committee will work to eliminate obstacles and provide support for entrepreneurs. Additionally, Amr El-Abd has been appointed as an advisor to the Prime Minister, responsible for monitoring and ensuring progress in the entrepreneurship field.
The 10 companies represented at the meeting, which span sectors such as financial technology, healthcare, real estate financing, stock exchange, consumer goods distribution and retail financial services, rank among the fastest-growing in the region and have collectively attracted significant investment and revenue. Together, these companies are valued at $3 billion, have brought in $1.4 billion in investments, generated $900 million in revenue, and created around 45,000 jobs.
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