Enterprise spoke with investors at the two-day Egypt VC Summit at the Sofitel Cairo Downtown Nile, which concluded yesterday, 5 February. Trade and Logistics were featured in the conversation, as did AI and tech. Hosted by the Egyptian Private Equity And Venture Capital Association and the German Development Agency (GIZ), the event brought together global and regional investors to attend talks, network, and participate in panels.

The inside scoop: Egypt-based VC fund Flat6Labs’ Chief Investment Officer Dina El-Shenoufy (LinkedIn) gave us her two cents on how the firm expects Egypt’s logistics scene and the wider start-up ecosystem to develop over the next year.

The sector is ripe for growth: There is room for “enhancement” in the logistics sector, from transportation to moving goods to infrastructure, Shenoufy told EnterpriseAM Logistics, pointing as well to recent initiatives in Africa improving roadworks and connectivities involving North and Sub-Saharan Africa. This improved connectivity in the continent and tech logistics are some areas that could see Flat6Labs’ funds capitalize on in terms of interest, Shenoufy told us.

REMEMBER- Flat6Labs plugged investments into Egyptian AI-driven delivery startup Roboost, Saudi-based shipping management platform Oto, and Saudi e-commerce logistics startup Yamm. It also has invested in mid-in-line delivery company Illa, Shenoufy told EnterpriseAM.

What’s next for Flat6Labs? The fund is planning to close its USD 85 mn Africa seed fund before the beginning of 2H this year, with about 10 to 20 investments planned for deployment, Shenoufy said.

The targeted sectors: The VC is targeting sectors it believes will “contribute the most in terms of impact on the continent,” as well as those holding the most promise in terms of scalability, Shenoufy added. This includes health and education tech, financial inclusion, climate, and logistics. Agritech is also another sector the company is looking at.

ALSO- Disruptech Ventures has its eyes on logistics startups that have embedded finance elements integrated into them, as well as firms that can leverage AI to optimize their operations regardless of what sector they operate in, the company’s Senior Investment Analyst at Disruptech Ventures Fouad Rakha (LinkedIn) told EnterpriseAM Logistics. “We are focused on the startups that are able to leverage AI to create what they already do, even when they don’t necessarily brand themselves as an AI company,” Rakha said. Export-focused start-ups are also on the VC company’s radar.

OTHER UPDATES FROM THE SUMMIT-

Egypt has big trade ambitions…: Egypt is looking to become a top 20 player in terms of trade competitiveness by 2030, Investment and Foreign Trade Minister Hassan Khatib said. One key initiative that the country is working on aims to cut the time and cost of releasing goods and services through the border by 75%, targeting a reduction in the time needed to achieve customs clearance to reach two days this year, he added.

… and the World Bank is all in on it: Improving “competitiveness in trade and logistics” is a key initiative the World Bank (WB) is working on with Egyptian authorities, the World Bank’s Country Director for Egypt, Yemen, and Djibouti Stephane Guimbert said. The multilateral financial institution is also supporting Egypt in boosting the influx of FDIs, developing an industrial development policy, and establishing a systematic framework to broaden the private sector’s participation, Guimbert added.

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