Egypt prepares new initiative to help startups expand abroad: GAFI

Egypt’s General Authority for Investment and Free Zones (GAFI) is developing a new initiative designed to help startups access foreign markets and secure improved financing opportunities, CEO Hossam Heiba said on Wednesday.

Speaking at Techne Summit 2025 in Cairo, which brought together entrepreneurs and investors from more than 70 countries, Heiba said the move aims to strengthen Egypt’s role as a hub for startup activity in Africa and the Middle East.

He stressed the importance of innovation and entrepreneurship in boosting Egypt’s economic competitiveness, adding that platforms like Techne Summit provide startups with access to funding and investment while helping young entrepreneurs turn ideas into sustainable projects.

GAFI has already set up a permanent unit dedicated to startups and entrepreneurship, Heiba said, to coordinate with stakeholders, apply global best practices, and facilitate international expansion for Egyptian firms.

The initiative aligns with Egypt’s Vision 2030 strategy, which prioritises innovation, export promotion, job creation, and technology-driven growth, he added.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser