AMAN Holding, Bokra and Erada Finance have joined Scale It Forward, a GIZ Egypt and enpact initiative designed to expand access to venture debt for Egyptian scaleups.
The three financial institutions signed framework agreements with enpact at a launch ceremony in Cairo, becoming the programme’s first financial institution partners. They will explore and pilot venture debt products for high-growth businesses seeking alternatives to equity financing.
Venture debt can give scaleups access to growth capital without requiring them to give up ownership. Under the programme, GIZ Egypt will provide technical assistance to help participating institutions design and deploy products in a controlled pilot environment. The institutions will also receive access to a pipeline of selected scaleups.
As part of the pilot, financial institutions will identify potential borrowers, while selected businesses will receive tailored support to prepare for venture debt financing. Financing will start at the equivalent of €5,000 per business and will be matched by €5,000 in non-repayable support through the programme, according to the announcement.
Scale It Forward aims to build financial-sector capacity and establish venture debt as an additional financing option for growing businesses in Egypt.
Source: Wamda
