Egypt’s Ayady and NI Capital are directing direct investments toward startups, with a particular focus on financial services, according to a statement by Planning and Economic Development Minister Ahmed Rostom.
Rostom made the remarks during a meeting with Egyptian startup founders and entrepreneurs based in the UAE, held on the sidelines of the 15th AIM Investment Summit. The meeting was also attended by Mohamed Awad, CEO of the General Authority for Investment and Free Zones, and Hossam Hussein, Egypt’s consul general in Dubai.
Discussions focused on supporting Egyptian startups operating from abroad and making it easier for them to expand into Egypt while bringing market experience back to the local ecosystem.
Rostom said the government’s entrepreneurship committee is working to address operational and financing challenges facing startups. He also highlighted the role of the National Investment Bank and its investment arms, including Ayady and NI Capital, in channeling direct capital into startups and financial services companies.
Entrepreneurs at the meeting represented sectors including fintech, accounting and company formation, SME finance, digital payments and digital media. They shared challenges affecting their plans to operate in Egypt, with their concerns referred to relevant government bodies for review.
Source: Fintech Gate
