Egypt, Afreximbank Deepen Partnership to Support Startups, Regional Expansion

Egypt's Minister of Planning and Economic Development, Ahmed Rostom, has held talks with the African Export-Import Bank (Afreximbank) to strengthen cooperation on supporting startups, expanding access to finance and helping Egyptian businesses scale across African and international markets.

The meeting with Afreximbank Executive Vice President Haytham El Maayergi focused on broadening the strategic partnership between Egypt and the pan-African financial institution, with discussions covering entrepreneurship, regional trade, investment and financial innovation.

Senior government officials and representatives from Egypt's entrepreneurship ecosystem attended the meeting, including Prime Minister's Adviser for Entrepreneurship Amr El-Abd, Egypt Entrepreneurship Center Director Heba Zaki and NI Capital Managing Director Mohamed Metwally.

According to a government statement, Rostom described Afreximbank as a key partner in advancing regional economic integration, facilitating intra-African trade and expanding investment opportunities across the continent. He said the collaboration also supports the development of digital financial solutions and cross-border payment infrastructure that can strengthen economic connectivity among African countries.

The minister reaffirmed the government's commitment to expanding cooperation with the bank in priority sectors, particularly initiatives aimed at supporting startups, promoting entrepreneurship, strengthening small and medium-sized enterprises (SMEs) and increasing the presence of Egyptian companies in African markets.

Rostom also welcomed the ongoing coordination between Afreximbank and the Central Bank of Egypt, highlighting the recently signed memorandum of understanding to establish a Gold Bank in Egypt as an example of successful collaboration that could serve broader continental development objectives.

The discussions also focused on implementing Egypt's national entrepreneurship and innovation strategy, including measures to improve startup financing, streamline investment and exit mechanisms and enhance policy coordination. Rostom said the government remains committed to supporting the entrepreneurial ecosystem through the ministerial group dedicated to entrepreneurship.

As part of these efforts, the minister highlighted plans to establish a Fund of Funds for venture capital financing, which is expected to strengthen the country's startup ecosystem by providing greater access to investment capital and supporting companies seeking regional and international expansion.

The two sides also explored opportunities to cooperate on equity investment, facilitate future public listings for high-growth startups and develop more flexible financial and regulatory frameworks to accelerate cross-border expansion. Discussions included potential collaboration with NI Capital to support promising small and medium-sized enterprises with export potential and international growth ambitions.

The meeting concluded with talks on expanding cooperation between the Egypt Entrepreneurship Center and Afreximbank to support innovation programs and strengthen the center's capacity as demand for entrepreneurship support services continues to grow.