The Central Bank of Egypt (CBE) has released new data on its Nilepreneurs initiative, revealing the program’s substantial impact on the country’s startup and SME ecosystem since its launch in February 2019. The initiative, a partnership with Nile University and other local and international bodies, has become a key driver in providing both financial and strategic support to Egyptian businesses.
Quick Facts
- EGP 19 billion in financing facilitated for businesses.
- Supported nearly 14,000 clients across Egypt.
- Helped companies increase revenues by EGP 3 billion.
Beyond Financial Access
According to the CBE report, the Nilepreneurs initiative has facilitated access to EGP 19 billion in financing for approximately 14,000 clients, directly addressing one of the primary hurdles for early-stage and small businesses.
The program’s impact extends beyond capital. A network of 132 business development service centers across 25 governorates has delivered over 1.16 million non-financial services. These services, which range from mentorship to operational support, have reached around 502,000 clients and projects. Notably, women represented 42% of the beneficiaries, indicating a strong focus on inclusive growth.
Nurturing Egypt’s Next Wave of Startups
The initiative’s specialized entrepreneurship programs have directly supported 500 startups and entrepreneurs through pre-incubation, incubation, and accelerator tracks.
Furthermore, 832 small and medium-sized enterprises have received technical support and digital transformation guidance to enhance their market competitiveness. The direct result of this comprehensive support is a collective EGP 3 billion increase in revenue for the participating companies.
The initiative has also invested in human capital, with training and learning programs reaching 38,000 individuals, solidifying its role in developing a skilled workforce for Egypt’s evolving economy.
About Nilepreneurs
Launched in February 2019 by the Central Bank of Egypt in collaboration with Nile University, Nilepreneurs is a national initiative designed to support and empower entrepreneurs, startups, and small and medium-sized enterprises (SMEs) in Egypt. It provides a comprehensive suite of services, including access to finance, business development support, incubation, and acceleration programs to foster innovation and contribute to the national economy.
Source: Aswaq Information
