Egypt sees entrepreneurship as national priority – MSMEDA chair

Egypt is positioning entrepreneurship and innovation as a core pillar of its economic strategy, Basel Rahmy, chief executive of Egypt’s Micro, Small and Medium Enterprise Development Agency (MSMEDA), said on Saturday, as Cairo prepares to host the 2026 edition of the Global Entrepreneurship Festival (GEF).

Speaking at a press conference announcing the event, scheduled for Nov. 6-8 in Cairo, Rahmy said the choice of the announcement date was deliberate, coinciding with the International Day of Micro, Small and Medium-sized Enterprises.

“We want to send a simple message to every entrepreneur and every dreamer: your ideas matter, your journey matters,” Rahmy said. “Great things can start with one idea.”

Rahmy said Egypt’s hosting of GEF 2026 reflected a broader national commitment to fostering innovation and supporting entrepreneurs, particularly young people, as part of the government’s development agenda.

“This is not just about hosting a global event,” he said. “It really reflects what we deeply believe and at the national level … that one innovative idea can create jobs, transform communities and make a difference … and a single entrepreneur can change the community,” Rahmy said.

The Egyptian government has increasingly promoted entrepreneurship as a tool to tackle unemployment and drive economic growth, with a focus on expanding access to finance, business support and training for startups and small businesses.

“The Egyptian government sees entrepreneurship and innovation as a national priority. Investing in people, supporting new ideas, and creating more opportunities for young entrepreneurs to grow and succeed.” MSMEDA CEO said.

Rahmy said Africa’s economic future was closely tied to its entrepreneurial potential, highlighting the need for stronger cooperation across the continent through knowledge-sharing and business partnerships.

“Across our continent, we see talented young people, bold ideas and incredible energy,” he said. “By working together, we can create more opportunities and shared prosperity.”

Established more than 35 years ago, MSMEDA has supported thousands of entrepreneurs across Egypt, helping them secure financing, build skills and access new markets, Rahmy said.

He described the festival as an opportunity to showcase Egypt’s entrepreneurial ecosystem to a global audience and underline the country’s belief in innovation as a driver of sustainable development.

“The Egyptian edition of GEF will be both productive and enjoyable, offering not only valuable professional engagement but also a glimpse into Egypt’s rich history and culture,” he said.

Rahmy also thanked organisers and international partners for what he said had been six months of intensive preparation for the event, which is expected to draw entrepreneurs, investors and policymakers from around the world.