Egypt is rewriting the playbook for entrepreneurship. Long hampered by financing hurdles and information gaps, startups and small businesses have often struggled to gain traction in a risk-averse market. But the tide is turning. At the U.S.-Egypt Policy Leaders Forum, held May 25–26 in Cairo under the patronage of President Abdel Fattah El-Sisi, policymakers, private sector leaders, and global financial institutions gathered to signal a pivotal shift: Egypt is no longer playing gatekeeper. It’s stepping into the role of enabler.
The Forum—organized by AmCham Egypt and the Egypt-U.S. Business Council in partnership with the U.S. Chamber of Commerce—opened with a bold focus: activating private capital through inclusive, growth-oriented public-private partnerships.
Private capital mobilization at scale
Cheick-Oumar Sylla, Regional Director for North Africa at the International Finance Corporation (IFC), underscored the organization’s deep and growing commitment to Egypt’s private sector. Speaking at the U.S.-Egypt Policy Leaders Forum, Sylla detailed the IFC’s $2.5 billion portfolio in the country, spanning critical sectors such as finance, manufacturing, tourism, and infrastructure.
“We invest in providing de-risking tools,” Sylla noted. “Our $1 billion commitment could represent $3 to $4 billion in actual project value,” emphasizing the IFC’s catalytic role in mobilizing capital without displacing local investors.
Looking ahead, Sylla pointed to the IFC 2030 agenda, which aims to quadruple capital mobilization by expanding the use of patient capital and increasing equity investments in local champions. Flagship initiatives such as the Benban Solar Park and Egypt’s first public-private partnership (PPP) waste treatment facility are not only transforming local infrastructure but are also setting benchmarks for investment frameworks across Africa.
State-owned enterprise reform and gender inclusion
Stephane Guimbert, Country Director for Egypt, Yemen, and Djibouti at the World Bank Group, emphasized that reforming Egypt’s more than 700 state-owned enterprises (SOEs) is critical to fostering private sector growth. He cited governance and transparency as essential for creating a level playing field.
Guimbert also called attention to Egypt’s low female labor force participation rate—just 18%—labeling it a major missed opportunity. “There is strong potential to mobilize much more women participation in the labor force,” he said, highlighting the importance of financial inclusion and credit access. He praised the Ministry of Finance’s tax reforms and the launch of a “fund-of-funds” strategy aimed at boosting equity financing for high-potential startups.
Financing the middle mile
Jorge Rubio Nava, Global Head of Social Finance at Citi, spotlighted the rise of gender-lens investing, noting the success of a Citi-issued bond that drew interest from family offices and global NGOs traditionally outside commercial markets. The move reflects investors’ increasing appetite for impact-driven opportunities.
Rubio Nava also detailed Citi’s blended finance programs in Egypt, developed in partnership with the U.S. International Development Finance Corporation (DFC) and the Ford Foundation. These initiatives focus on “middle-mile” firms—businesses that have outgrown seed funding but remain below the threshold for traditional banking—by offering local currency financing and selective equity support to help them scale.
Egypt as Africa’s gateway
Haitham Elmaayergi, President of Global Trade Bank at African Export-Import Bank (Afreximbank), framed Egypt as a launchpad for private sector expansion across Africa. “Our mandate is taking private sector, either grow it to expose into Africa, or take it to expand into Africa,” he said. He identified pharmaceuticals, food security, and infrastructure as sectors ripe for regional influence.
Elmaayergi also noted that Afreximbank’s support goes beyond financing. The bank facilitates project preparation, syndication, and export credit agency engagement to ensure bankability and attract global partners.
Government as platform, not bottleneck
Tamer Taha, Advisor to the Minister and Head of the Private Sector Participation Unit at the Ministry of Planning, Economic Development and International Cooperation, described Egypt’s evolving role in the entrepreneurial ecosystem. A key tool is HIFIS (Helping Enterprises Find Investment Solutions), a digital platform that consolidates investment data from over 50 development finance institutions and provides customized funding pathways in both Arabic and English.
Taha also highlighted a forthcoming startup and investor charter, developed through more than 40 stakeholder workshops. The charter will define regulatory frameworks, key terms, and incentive structures, giving startups and investors greater clarity. “In the past five months alone, startups in Egypt attracted $200 million from VCs and DFIs,” he noted, a sign of growing ecosystem traction.
He also underscored the significance of Egypt’s demographic shift. By 2030, Gen Z will account for 44%of the workforce. “This tech-savvy, youthful population,” combined with Egypt’s geographic position linking Asia, Africa, and Europe, makes the country uniquely positioned to become a regional innovation hub—not just in trade, but in digital connectivity.
The takeaway: finance alone is not enough
Throughout the session, a common theme emerged: capital is crucial, but it’s not sufficient. Policy predictability, institutional transparency, and trust-building must accompany financial tools to drive sustainable growth.
As Cheick-Oumar Sylla of the IFC aptly concluded, “You cannot wait to have everything ready and perfect… We have to be actors of change.” The Forum’s opening session set the tone for Egypt’s next chapter—defined by collaboration, reform, and inclusive economic transformation.
