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A EGP 10 bn financing initiative targeting startups? The Finance Ministry is currently working with the Central Bank of Egypt (CBE) and other relevant ministries to launch a first-of-its-kind EGP 10 bn financing initiative targeting startups and entrepreneurs, a government source told EnterpriseAM.
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What’s on the table? The initiative aims to provide concessional funding to startups and entrepreneurs through the Micro, Small & Medium Enterprises Development Agency and the CBE, according to the source.
The initiative will also provide technical assistance and simplified procedures related to registration, documentation, and utilities. “This will help young people establish a large base of small projects and entrepreneurship activities on a sectoral basis, linked to the state’s plans to expand strategic industries and sectors,” our source added.
What about the rates? The Finance Ministry has not yet decided on the final interest rate on loans under the initiative, but our source confirmed that the rates will be favorable to incentivize the sector. We think the interest rate could stand at around 15%, similar to that offered under the EGP 90 bn financing initiative targeting industrial, agricultural, and renewable energy players.
The timeline: The government will likely launch the initiative in the first half of 2026, according to our source.
WHILE WE’RE ON THE TOPIC OF STARTUP FINANCE- The European Bank of Reconstruction and Development (EBRD) will extend a USD 200 mn loan to the National Bank of Egypt to on-lend to MSMEs, according to a project summary on the EBRD’s website. The total amount will be disbursed as a senior unsecured loan of USD 100 mn and a later, uncommitted tranche of the same amount. The funds, which will be channeled via the state-owned bank’s Al Ahly Leasing and Al Ahly Tamkeen Microfinance, will focus on women, young people, and projects outside Cairo and Alexandria.
