Minister of Planning and Economic Development Ahmed Rostom held talks with Afreximbank Executive Vice President Haytham El Maayergi on strengthening cooperation under the strategic partnership between Egypt and the African Export-Import Bank. The meeting, held in Cairo, was attended by Amr El-Abd, Adviser to the Prime Minister for Entrepreneurship; Heba Zaki, Director of the Egypt Entrepreneurship Center; Mohamed Metwally, Managing Director of NI Capital, the investment arm of the National Investment Bank; and senior ministry officials.
Rostom said that the partnership between Egypt and Afreximbank plays a pivotal role in promoting regional integration across Africa, supporting intra-African trade, expanding economic partnerships, and increasing investment in digital solutions and cross-border payment infrastructure.
He added that the government is keen to deepen cooperation with the bank in priority areas, particularly those related to supporting startups and entrepreneurship, developing small and medium-sized enterprises, and expanding the presence of Egyptian companies in African markets.
Rostom also highlighted ongoing coordination between Afreximbank and the Central Bank of Egypt to support development efforts, noting that the recent signing of a memorandum of understanding to establish a Gold Bank in Egypt represents a successful model that could be built upon to strengthen the continent's economic capabilities.
The talks also covered opportunities for cooperation in implementing Egypt's national entrepreneurship and innovation support framework, including support for startups, improving access to finance, facilitating business expansion and exit mechanisms, and strengthening policy coordination.
Rostom said the government is providing full support to the entrepreneurship ecosystem through the ministerial group for entrepreneurship. He stressed the importance of continued coordination to identify priority areas of cooperation and align them with national initiatives, while advancing plans to establish a fund of funds to finance entrepreneurship in Egypt and help startups expand regionally and internationally.
The discussions also addressed cooperation in venture capital investment, support for startup listings and initial public offerings, and the facilitation of regional expansion through more flexible regulatory and financial tools. The two sides further reviewed opportunities to utilize a fund dedicated to promising small and medium-sized enterprises in cooperation with NI Capital to support companies seeking to expand into external markets.
The meeting concluded with discussions on strengthening cooperation between the Egypt Entrepreneurship Center and Afreximbank to support the center's programs and initiatives as well as to enhance its capacity to accommodate the expected expansion of innovation-support activities.