Egypt’s private sector attracts $10.3b investments in 4 years

Egypt has facilitated $10.3 billion in funding and investments for the private sector over the past four years, Minister of International Cooperation Rania Al-Mashat announced on Sunday during the 11th edition of Rise Up Summit.

Al-Mashat highlighted the government’s commitment to supporting startups and entrepreneurship, with international development partners contributing more than 42 per cent of risk capital fund investments in Egyptian startups.

The ministry is also working on various programmes to connect startups at different growth stages with international investors and development partners.

The efforts include initiatives like Orange Corners Upper Egypt, which facilitated the graduation of more than 116 startups, and the Climate Finance Accelerator implemented in cooperation with Flat6Labs and the British Embassy.

The ministry’s ongoing portfolio includes 36 projects in innovation, digitisation, and entrepreneurship across various sectors, valued at about $1 billion.