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Egypt 🇪🇬

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Fekretak Sherketak&#8217;s Fast Track initiative helps Egyptian entrepreneurs streamline startup processes. 
Licensing authorities are integrated into the platform, reducing the usual startup stress and paperwork. 
The centre offers advisory services, mentoring, legal advice, and co-working spaces for new businesses. 
This initiative supports startups in overcoming bureaucratic challenges common in Egypt. 
Fast Track aims to transform business ideas into thriving enterprises, enhancing Egypt&#8217;s economy.

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At the &#8216;She Can&#8217; conference, Dr Rania Al-Mashat highlighted initiatives to empower Egyptian women entrepreneurs. 
Significant investments in women&#8217;s education, healthcare, and employment are expected to reach 300 billion pounds. 
&#8216;She Trades Egypt&#8217; and &#8216;She Leads&#8217; projects aim to enhance market access for female entrepreneurs. 
The &#8216;Gender Gap Accelerator&#8217; project seeks to reduce economic inequalities between men and women. 
Online &#8216;Hafiz&#8217; platform connects private sector and startups with international funding and mentorship.

Orange Egypt launches its 15th annual Orange Social Venture Prize competition. 
Entrepreneurs can win up to €70,000 for socially impactful projects. 
Applications are open until 18 May 2025 on the official platform. 
Women&#8217;s initiatives get a special €20,000 prize to highlight their contributions. 
Orange emphasises innovation&#8217;s role in addressing societal challenges effectively.

e&amp; Egypt launches a new service for instant cross-border money transfers via e&amp; Cash app. 
Initially connecting Egypt with Saudi Arabia and UAE, expansion to more countries is expected soon. 
The service eliminates the traditional hassles of money transfers, offering immediate mobile cash access. 
Egypt&#8217;s fintech landscape is rapidly growing, with mobile wallets rising and fintech startups booming. 
This reflects Egypt&#8217;s quick adaptation to global trends for secure and easy financial access.

Intro Group acquires a stake in ADVEC, focusing on energy and AI technologies. 
This move aligns with Egypt&#8217;s sustainability goals and Vision 2030. 
Collaboration aims to enhance energy efficiency through AI and digital solutions. 
ADVEC&#8217;s expansion will target Gulf nations and Africa, improving regional energy security. 
The acquisition promises advanced infrastructure services to modernise government&#8217;s and industries&#8217; operations.

Fast-growing Egyptian startup Rabbit expands into Saudi Arabia, opening a new HQ in Riyadh. 
Rabbit aims to deliver 20 million items in Saudi Arabia by 2026, focusing on q-commerce. 
This move aligns with Saudi Vision 2030, driving digital transformation and inviting innovation. 
Rabbit&#8217;s strategy includes creating a localised brand, leveraging tech expertise and local partnerships. 
Their sustainable growth model and strong local supplier network bolster their ambitious expansion plans.

UAE-based Maseera Holding has acquired Egypt’s fintech platform ADVA, expanding into North Africa. 
ADVA will focus on Egypt’s consumer finance, easing credit access for underserved communities. 
Both firms aim to use AI and data analytics for tailored financial solutions. 
ADVA seeks Egypt&#8217;s first digital consumer financing licence, advancing financial inclusion and digital transformation. 
Maseera&#8217;s expansion supports Egypt’s fintech growth, aligning with national priorities.

Tech startup Stakpak secures $500,000 in funding, led by P1 Ventures. 
Investment boosts plans for US market expansion, strengthening teams in the US and Egypt. 
Stakpak’s AI-driven IDE promises to streamline software infrastructure development. 
Clients experience up to a fivefold improvement in project delivery times. 
Stakpak rides the wave of AI innovation excitement, aiming for substantial market impact.

The &#8220;Shaping Egypt AI Horizon&#8221; forum highlighted Egypt&#8217;s National AI Strategy running from 2025 to 2030. 
Minister Dr Amr Talaat emphasised collaboration between government, private businesses, and startups for AI growth. 
ITIDA is connecting startups, government, and investors to enhance Egypt’s tech scene. 
500 Global is boosting AI integration in startups to drive innovation. 
Egypt aims to train 30,000 AI specialists and increase public AI adoption by 36%.

Lobna Helal is the first woman to chair Telecom Egypt, marking a historic milestone. 
Helal&#8217;s extensive background includes deputy governor at Egypt&#8217;s Central Bank, showcasing her expertise. 
She aims to continue Telecom Egypt&#8217;s sustainable growth and build on Dr Osman&#8217;s strong foundation. 
Mohamed Nasr begins his second term as managing director and CEO, focusing on digital innovation. 
This leadership change promises significant advancements for Telecom Egypt and Egypt&#8217;s digital landscape.

Egyptian startup InfiniLink raised $10 million to enhance its optical connectivity chips for AI data centres. 
Contributors include MediaTek, Sukna Ventures, Egypt Ventures, and M Empire Angels. 
InfiniLink&#8217;s iOTC chips aim to improve speed without increasing power consumption in data centres. 
The technology promises faster AI-driven centres that use less energy, benefiting both users and the environment. 
Funding will advance their mixed-signal analogue and photonics tech, boosting efficiency.

Orascom Construction plans to reduce Egyptian projects to a third by 2026. 
The focus shifts to international projects, seeking foreign currency-backed and economically stable opportunities. 
Delayed payments from Egyptian authorities are improving but remain a challenge. 
Domestic construction challenges prompt a shift, with international ventures in UAE and Saudi Arabia. 
Orascom aims for stability and growth by diversifying in Middle Eastern markets.

The Egyptian Arab Land Bank plans to exit Jordan, selling its 16 branches there. 
Central banks of Jordan and Egypt approved the sale, spurring local banks&#8217; interest. 
Regulatory hurdles, not profitability, drive the decision, needing 20 million dinar capital increase. 
Stringent capital requirements in Jordan challenge the bank’s continued operation. 
The development highlights the pressure on smaller banks from tight regulations globally.

Enza, a UAE-based fintech startup, secured $6,75 million in its latest seed funding round. 
The funding was led by Algebra Ventures and Quona Capital to boost operations across Africa. 
Enza develops cutting-edge payment solutions, aiding banks and fintech firms in seamless transactions. 
Currently operating in Egypt, Nigeria, and South Africa, Enza targets Africa&#8217;s booming fintech sector. 
Founded in 2022, Enza aims to shape modern African payment infrastructure with strong investor backing.

Egypt&#8217;s MSMEDA invested LE 11,9 billion in small businesses across Minya, Fayoum, and Beni Suef. 
This funding supported 574,349 projects and created 826,300 permanent jobs in Upper Egypt. 
MSMEDA helped 21,000 small businesses obtain licences, boosting access to developmental benefits. 
Collaboration with international partners improved infrastructure, creating 7,9 million employment days. 
The strategy mirrors a regional trend, empowering small businesses for economic revival.

Egyptian fintech Fawry partners with Contact Financial to expand digital payments in Egypt. 
Fawry&#8217;s network will now offer &#8216;Buy Now, Pay Later&#8217; options across 370,000 points-of-sale. 
The collaboration aims to simplify bill payments, electronic transactions, and financial services. 
This initiative aligns with Egypt&#8217;s digital transformation strategy for financial inclusion. 
Government efforts like MSMEDA&#8217;s investments have significantly impacted job creation and community development.

Emirates NBD is exploring a deal to acquire Egypt&#8217;s Banque du Caire. 
The Egyptian government is waiting on a fair valuation before deciding on a stake sale. 
Market speculation suggests the bank&#8217;s value lies between 1 and 1,5 billion US dollars. 
Exchange rate changes since 2008 affect the current bank valuation significantly. 
If expectations aren&#8217;t met, Egypt might list the bank on the stock exchange instead.

Tech companies often see their market value drop right after going public. 
Before IPO, investor optimism overshadows scrutiny, which hits hard once companies go public. 
Public market demands reveal financial weaknesses, challenging prior inflated valuations. 
Broader economic factors and inflated pre-IPO valuations often dampen initial enthusiasm. 
Post-IPO, strong fundamentals and sustainable growth are crucial for long-term success.

Egypt&#8217;s Financial Regulatory Authority licenses Telda, Beltone, and Thndr as digital stock brokers. 
These fintechs will offer fully online services, including digital verification and onboarding. 
The move aligns with Egypt&#8217;s digitalisation drive and aims to simplify online investing. 
Expected benefits include lower costs, quicker processes, and improved accessibility for investors. 
Investment activity in the MENA region is booming, with significant funds raised by startups.

Egypt&#8217;s new mobile app &#8220;Investor Support&#8221; eases investor communication with government authorities. 
Currently on Android, the iOS version of the app is set to launch soon. 
The app allows investors to submit complaints and receive responses from the ministry. 
The initiative aligns with Egypt&#8217;s digital transformation goals to streamline business processes. 
Initial responses to the app are positive, but its real-world effectiveness remains to be seen.

Grinta acquires City Clinic, gaining access to over 150,000 patients in Egypt. 
The acquisition follows strategic funding from Beltone Venture Capital and Raed Ventures. 
Grinta plans to expand into East Africa, including launching its pharmacy chain in Tanzania. 
Both investors express enthusiasm for Grinta&#8217;s innovative approach and market adaptability. 
Their journey offers valuable insights for start-ups in healthcare and pharmaceuticals.