Egypt’s Minister of Planning and Economic Development Ahmed Rustum met with African Export-Import Bank (Afreximbank) Vice President Haytham El-Maayergi to discuss expanding co-operation in supporting startups, entrepreneurship and broader economic development, the ministry said on Sunday.
The meeting focused on strengthening the long-standing partnership between Egypt and the pan-African lender, with discussions covering regional integration, intra-African trade, digital payments infrastructure and investment.
Rustum said Egypt values its strategic partnership with Afreximbank in advancing African economic integration, boosting trade among African countries and expanding investments in digital payment systems.
He said the government is seeking a new phase of co-operationwith the bank to support innovation and entrepreneurship, adding that startups are a key priority as Egypt works to increase their access to African markets.
The minister said discussions included coordination on establishing a “fund of funds” to finance entrepreneurship in Egypt, as well as exploring co-operation with NI Capital, an investment arm of the National Investment Bank, to support promising startups and small and medium-sized enterprises with regional and international growth potential.
The meeting was attended by Prime Minister’s Adviser for Entrepreneurship Amr El-Abd, Egypt Entrepreneurship Center Director Heba Zaki, NI Capital Managing Director Mohamed Metwally and other ministry officials.
Rostom also highlighted ongoing co-operation between Afreximbank and the Central Bank of Egypt, including a recently signed memorandum of understanding to establish a gold bank in Egypt, describing it as an example of successful collaboration that could be expanded.
The two sides discussed opportunities to improve the financing environment for startups, facilitate business expansion and exits, encourage venture capital investment and support initial public offerings by emerging companies.
They also probed potential co-operation between the Egypt Entrepreneurship Center and Afreximbank to strengthen the center’s programmes and expand support for innovation and entrepreneurship.
