Egyptian Investment and Foreign Trade Minister Mohamed Farid said stronger financing tools, flexible regulations and better market access are essential for helping African startups grow and compete regionally and internationally.
Speaking during a ministerial session at the El Alamein Africa Forum, Farid said Africa has a growing base of entrepreneurs and technological capabilities. He argued that startup support should extend beyond company formation to include funding, customer access and support through later growth stages.
According to the announcement, Egypt is updating the executive regulations of its Companies Law to clarify rules for financing instruments that can convert into equity. The work also covers preferred shares, voting rights, capital increases, company valuation, shareholder agreements, mergers and acquisitions, and changes to companies’ legal structures.
The ministry is also working to digitize post-incorporation services, connect government databases and reduce repeated document submissions, with the aim of shortening the time needed to secure financing and complete transactions.
Farid highlighted Egypt’s TradeTech Sandbox as a way for startups to test solutions related to digital trade documents, customs procedures, compliance, logistics and export market access. He also said foreign investment could help local technology companies become suppliers or technology partners, supporting technology transfer and the development of domestic value chains.
Source: Twasl News
