Egypt: GAFI empowers entrepreneurs, startups in collaboration with African Development Bank

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Egypt - The General Authority for Investment and Free Zones (GAFI), in partnership with the African Development Bank, successfully concluded a programme aimed at enhancing the entrepreneurial ecosystem.

This initiative significantly bolstered the capabilities of entrepreneurs and startups across all regions of the country.

The closing ceremony, attended by key divs including Hossam Heiba, CEO of GAFI; Dalia El-Hawary, Deputy CEO of GAFI; and Jehan El-Sukkary, Senior Socioeconomic Expert at the African Development Bank in Egypt, marked the programme’s achievements.

Through the “Your Idea, Your Company” centre, funded by the African Development Bank, GAFI organized workshops and awareness sessions for nearly 600 entrepreneurs and youth in 17 governorates over a year. These sessions introduced participants to government policies supporting entrepreneurship and facilitated connections among stakeholders involved in startup initiatives. Additionally, leading consulting firms provided financial, tax, administrative, and technological consultancy services to 130 startups and entrepreneurs.

Heiba emphasized GAFI’s pivotal role in cultivating an entrepreneurial culture among youth and continually improving the business environment. He highlighted recent government efforts to support startups in Egypt, including the establishment of a permanent unit within the Cabinet dedicated to startup support and the launch of an electronic registration service. These initiatives demonstrate the government’s commitment to empowering startups and fostering development.

Jehan El-Sukkary praised the program’s alignment with the African Development Bank’s strategy, which focuses on youth employment and enhancing the business environment. The collaboration between the African Development Bank and GAFI has been instrumental in supporting Egypt’s investment landscape.

Dalia El-Hawary reaffirmed GAFI’s commitment to implementing supportive policies for entrepreneurship, streamlining procedures, and eliminating bureaucracy.

Ahmed Zuhair, the Executive Director responsible for the program, reviewed the programme’s successful tours across various governorates. He emphasized the importance of building robust support networks for entrepreneurship activities to achieve sustainable and comprehensive development throughout society.

Hossam Abdel Kader, Head of the Central Administration for Entrepreneurship “Your Idea, Your Company”, provided an overview of the services offered by the administration. As a specialized government centre supporting entrepreneurs in Egypt, it serves as a space for developing innovative ideas and transforming them into startup projects. The administration’s technical and consultancy services align with the state’s strategy to position Egypt as a regional hub for entrepreneurship activities in the Middle East.

Lastly, it’s worth noting that the Central Administration for Entrepreneurship’s team received the Innovation and Creativity Award in the Egypt Government Excellence Competition for the year 2020.

After the program, Dalia El-Hawary and Jehan El-Sukkary presented certificates of appreciation to the program’s staff, recognizing their dedication and success in achieving the programme’s objectives.