Latest news with #MinisterialGroupforEntrepreneurship
CairoScene
11-06-2025
- Business
- CairoScene
WATCH: Egyptian Startups Secure $228M in First Five Months of 2025
In total, 16 deals were recorded during the period, with 11 of them publicly disclosing investment of $156 million altogether. Jun 11, 2025 Egyptian startups have attracted $228 million in venture capital and debt financing from January to May 2025, according to a statement from the Ministerial Group for Entrepreneurship. The figures mark a 130% year-on-year increase in disclosed investment volume, reflecting continued growth in Egypt's startup ecosystem despite ongoing economic challenges. In total, 16 deals were recorded during the period, with 11 of them publicly disclosing investment amounts that collectively reached $156 million. In addition to equity investments, two notable debt financing deals were secured: proptech platform Nawy raised $23 million, while fintech firm MNT-Halan secured $49 million.
Egypt Independent
03-06-2025
- Business
- Egypt Independent
PM: Egypt's role in global entrepreneurship community spotlighted
Prime Minister Mostafa Madbouly underscored the pivotal role played by the Ministerial Group for Entrepreneurship in developing a well-structured approach toward startups and entrepreneurs based on the best global experiments. The move aims to achieve sustainable economic growth and spotlight Egypt's role as a key player in the global entrepreneurship community in order to enhance entrepreneurs' confidence and attract more investors and investments into the Egyptian market, he added. Madbouly's remarks came while chairing a meeting of the Ministerial Group for Entrepreneurship on Monday, June 2nd, 2025. The meeting was attended by Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, Amr Talaat, Minister of Communications and Information Technology, Ayman Ashour, Minister of Higher Education and Scientific Research, Ahmed Kouchouk, Minister of Finance, Sherif Farouk, Minister of Supply and Internal Trade, Hassan El-Khatib, Minister of Investment and Foreign Trade along with a number of senior state officials. During the meeting, Mashat, presented a report highlighting positive indicators in many startups in Egypt. She noted significant progress in the first five months of this year, with startups attracting approximately $228 million in funding through 16 deals—11 of which totaled $156 million. This marks a 130% increase, compared to the same period in 2024. The minister also outlined the key points of Egypt's forthcoming Startup Charter, which will be launched soon. The Charter aims to build trust between startups and the government by clearly committing to the system's priorities as well as coordinating efforts by different government bodies to create a more efficient, transparent, and innovation-friendly environment in a move meant to serve entrepreneurship, she added.
Middle East
02-06-2025
- Business
- Middle East
OPEN// PM: Egypt's role in global entrepreneurship community spotlighted
CAIRO, June 2 (MENA) - Prime Minister Mostafa Madbouly underscored the pivotal role played by the Ministerial Group for Entrepreneurship in developing a well-structured approach toward startups and entrepreneurs based on the best global experiments. The move aims to achieve sustainable economic growth and spotlight Egypt's role as a key player in the global entrepreneurship community in order to enhance entrepreneurs' confidence and attract more investors and investments into the Egyptian market, he added. The premier's remarks came while chairing a meeting of the Ministerial Group for Entrepreneurship on Monday. The meeting was attended by Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, Amr Talaat, Minister of Communications and Information Technology, Ayman Ashour, Minister of Higher Education and Scientific Research, Ahmed Kouchouk, Minister of Finance, Sherif Farouk, Minister of Supply and Internal Trade, Hassan El-Khatib, Minister of Investment and Foreign Trade along with a number of senior state officials. During the meeting, Mashat, presented a report highlighting positive indicators in many startups in Egypt. She noted significant progress in the first five months of this year, with startups attracting approximately $228 million in funding through 16 deals—11 of which totaled $156 million. This marks a 130% increase, compared to the same period in 2024. The minister also outlined the key points of Egypt's forthcoming Startup Charter, which will be launched soon. The Charter aims to build trust between startups and the government by clearly committing to the system's priorities as well as coordinating efforts by different government bodies to create a more efficient, transparent, and innovation-friendly environment in a move meant to serve entrepreneurship, she added. (MENA) Y R E/R E E
CairoScene
02-06-2025
- Business
- CairoScene
Egyptian Startups Secure $228 Million in First Five Months of 2025
Egyptian Startups Secure $228 Million in First Five Months of 2025 Egyptian startups have attracted $228 million in venture capital and debt financing from January to May 2025, according to a statement from the Ministerial Group for Entrepreneurship. The figures mark a 130% year-on-year increase in disclosed investment volume, reflecting continued growth in Egypt's startup ecosystem despite ongoing economic challenges. In total, 16 deals were recorded during the period, with 11 of them publicly disclosing investment amounts that collectively reached $156 million. In addition to equity investments, two notable debt financing deals were secured: proptech platform Nawy raised $23 million, while fintech firm MNT-Halan secured $49 million. The proptech sector led in terms of total investment volume, accounting for 33% of all capital raised, while fintech topped the charts in deal count, with five transactions comprising 32% of total investment value. H.E. Dr. Rania Al-Mashat, Egypt's Minister of Planning, Economic Development and International Cooperation and head of the Ministerial Group for Entrepreneurship, stated that the funding growth reflects continued momentum in Egypt's startup market. Dr. Al-Mashat attributed this progress to government-led efforts to improve the business climate and support private sector growth through targeted structural reforms. Dr. Al-Mashat confirmed that work is currently underway on a national Startup Charter, alongside a range of funding initiatives and financial incentives to promote investment, including tax benefits for startups with annual revenues under EGP 20 million. In addition to new funding, the local startup ecosystem saw a number of key acquisition deals. These included Dubizzle's acquisition of used car marketplace Hatla2ee, as well as the acquisition of digital payments platform Fatora by MaxAB-Wasoko. The Ministerial Group for Entrepreneurship was launched by the Egyptian government to coordinate startup policy across relevant ministries and to develop initiatives that foster an enabling ecosystem for entrepreneurship. As part of this mandate, the group aims to promote Egypt's visibility on the global startup map while supporting sustainable and inclusive economic growth.
Egypt Today
01-06-2025
- Business
- Egypt Today
Egypt's Startup Ecosystem Accelerates with $228M during 2025
CAIRO – 1 June 2025: Egypt's entrepreneurial landscape is experiencing a powerful surge, with startups attracting $228 million in venture capital and debt financing during the first five months of 2025. This upward momentum, announced by the Ministerial Group for Entrepreneurship, signals renewed confidence among investors and growing resilience in the Egyptian innovation economy. Between January and May 2025, 16 investment deals were closed, of which 11 were publicly disclosed, amounting to $156 million—a 130 percent increase over the same period last year. Alongside equity injections, top startups such as Nawy and MNT-Halan secured notable debt financing rounds worth $23 million and $49 million, respectively. Speaking on the occasion, Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, and Chair of the Ministerial Group, underscored the government's unwavering commitment to fostering a robust and inclusive startup ecosystem. She emphasized that this support is driven by a clear national vision, led by President Abdel Fattah El-Sisi, to position Egypt as a competitive regional hub for innovation. Dr. Al-Mashat also revealed that the Ministerial Group is nearing the completion of the Startup Charter, which will set the groundwork for a more enabling environment. Complementary funding mechanisms and support facilities are being developed to attract further capital and support early-stage growth. In parallel, the government has rolled out tax incentives for startups with annual revenues under EGP 20 million, aiming to ease operational pressures and accelerate scalability. Beyond financial incentives, the Group's strategy focuses on empowering youth and enhancing Egypt's global entrepreneurial standing. The approach is not only economic but also strategic, emphasizing competitiveness, knowledge-based development, and sustainable growth. The first five months of the year also saw pivotal movements in Egypt's startup market, particularly in the area of exits and acquisitions. Among the standout deals were Dubizzle's acquisition of Hatla2ee, a key player in online car sales, and the acquisition of Fatora, a digital invoicing platform, by MaxAB-Wasoko. These developments point to a maturing market, where consolidation and strategic scaling are becoming more prevalent. Sector-wise, PropTech led in capital attracted, drawing 33 percent of total venture investment, while FinTech dominated by deal count, with five transactions accounting for 32 percent of the funding activity. These figures underline the diversity and sectoral dynamism of Egypt's startup environment, offering promising signals for sustained growth and innovation in the months ahead.
