Egypt’s Deputy PM says Africa’s economic future hinges on innovation, entrepreneurship

Africa’s economic future will depend on innovation, entrepreneurship, and digital transformation, Egypt’s Deputy Prime Minister for Economic Affairs Hussein Eissa said on Saturday, as Cairo prepares to host the 2026 Global Entrepreneurship Festival.

Speaking at a press conference announcing the event, Eissa said startups and small businesses were becoming increasingly central to economic growth and job creation across the continent, particularly as African economies face shared development challenges.

He said entrepreneurship had become one of the world’s most important drivers of growth by transforming knowledge into economic value and innovative ideas into scalable businesses.

“Africa’s future rests on innovation, entrepreneurship, digital transformation and a knowledge-based economy,” Eissa said, adding that young entrepreneurs would be the main force behind the continent’s next stage of growth.

Eissa said Egypt’s hosting of the festival reflected international confidence in its economy and its growing role as a regional gateway connecting Africa with global markets.

The event, scheduled for 6-8 November 2026, will bring together entrepreneurs, investors, policymakers and financial institutions to build partnerships, expand investment opportunities and accelerate startup growth across Africa.

He added that Egypt’s improving investment climate, infrastructure development and startup reforms had positioned Cairo to play a larger role in shaping the continent’s entrepreneurial ecosystem.