GAFI and African Development Bank empower entrepreneurs in Egypt

GAFI and African Development Bank empower entrepreneurs in Egypt

The General Authority for Investment and Free Zones (GAFI) of Egypt, in cooperation with the African Development Bank (AFDB), recently concluded the program “Enhancing the Entrepreneurial Ecosystem,” which contributed to supporting the capabilities of entrepreneurs and startups in the country.

Hossam Heiba, GAFI CEO, Dr Dahlia El-Hawary, Deputy GAFI CEO, and Ms Gehan El-Sokkary, Principal Socio-Economist at AFDB in Egypt, attended the event.

Through “Fekretak Sherketak” funded by AFDB, GAFI provided workshops and awareness sessions for approximately 600 entrepreneurs and youth in 17 governorates over the course of a year, introducing them to government policies supporting entrepreneurship. The workshops helped create a system connecting all relevant entities involved in entrepreneurship in each governorate to enhance their efforts in supporting startups.

Additionally, leading consultancy firms provided financial, tax, administrative, and technological consulting services to 130 startup companies and entrepreneurs.

Hossam Heiba expressed his gratitude to the program participants and emphasized the role of GAFI in promoting entrepreneurship culture among youth and continuously improving the business environment, as it is entrusted with encouraging investment in Egypt. He highlighted the government’s latest efforts to support startups in Egypt, especially establishing a permanent unit within the Council of Ministers to support startups and entrepreneurship, as well as the launch of Electronic Incorporation Services. He affirmed the government’s openness to proposals, empowering startups to contribute to development efforts.

Ms Gehan El-Sokkary stated that the program aligns with AFDB’s strategy of supporting youth employment and enhancing the business environment, commending cooperation with GAFI on various initiatives supporting the investment environment.

Dr. Dalia El-Hawary stated that GAFI would continue implementing its supportive policies for entrepreneurship, streamlining procedures, and eliminating bureaucracy.

Dr. Ahmed Zuhair, Executive Director responsible for the program, highlighted the key results of the “Enhancing the Entrepreneurial Ecosystem” program’s rounds in various governorates, emphasizing the need to continue building support networks for entrepreneurship activities in governorates to achieve sustainable and comprehensive development for society.

Hossam Abdel Kader, Head of Central Department of Entrepreneurship “Fekretak Sherketak”, provided an overview of the services offered by the Department to entrepreneurs and startups as a specialized government center supporting entrepreneurship in Egypt.


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