The 19th Annual AVCA Summit, the largest Africa-focused private capital event in the world gathered movers and shakers of the industry at The GrEEK Campus Downtown on the 3rd of May to network and explore the possibilities within Egypt’s thriving entrepreneurship ecosystem.  

Attendees included private equity and venture capital firms, institutional investors, foundations and endowments, pension funds, international development finance institutions, professional service firms, academia, and other associations. 

 

Egypt among top 10 investment destinations in Africa. 

Egypt ranks among the four biggest economies in Africa at $404bn alongside Kenya and South Africa. "It's not a coincidence that we returned to Egypt for AVCA's annual summit. Egypt is a desirable investment destination and has consistently ranked high for deal volume and value in North Africa and across the entire continent.” Said Abi Mustapha-Maduakor, Chief Executive Officer, AVCA. 

The Egyptian market has been booming in the last ten years, with so many entrepreneurs and young thinkers coming up with tech-solutions for everyday challenges, most prominently money transfer and financial inclusion, and that is why the Egyptian fintech space has seen unprecedented disruption. Fintech led deal flow activity in Egypt, like it did across the Middle East and Africa. It accounted for 17% of all deals closed in the country. 

 

A new era of economic reforms boosting entrepreneurial activity. 

One of the main attractions of Egypt when it comes to absolutely anything is its geographical location. Blessed with amazing weather, and an aversion to any natural disasters and catastrophes, it has always been a top-notch location. This is followed by the fact that Egypt boasts a huge population, with a vast number of young, educated individuals (average age 25). 

It is also notable that the government has been welcoming those initiatives entering the market with its long-term strategy that started nearly ten years ago with monetary reforms and assistance from the IMF.  

 “Over the past decade, the Egyptian government has implemented progressive policies to improve the regulatory environment and stimulate investment to support ambitious businesses and generate jobs. We are excited to be in Cairo for the conference. This year's conference will provide a fantastic opportunity for our industry to connect, network, and share knowledge so that we can unlock more capital across Africa." Said Mustapha-Maduakor.  

Egypt has also signed many trade treaties in the past few years giving access to over 2.6 billion people including European, Eastern, and South African countries. This opened a lot of doors linking the Egyptian market and pretty much everywhere around the world.  

 

The status of venture investment in Egypt 

Funding secured by Nigeria, Egypt, South Africa, and Kenya has continually increased over the years: from a 79.4% share in 2018 to 87.5% in 2019 and then 89.2% in 2020 and is still going up.  

Last year, Egypt secured 24.4% of the total funding alone, and this is set to increase yearly as the records report that the number of investors financing Egyptian startups rose to the highest number ever (65%).  

Many incubators and accelerators take home at The GrEEK Campus, most prominently AfricInvest, Middle East Venture Partners, Egypt Ventures, Arzan VC and many more.  

“We’re very excited about Africa, it is one of the fastest-growing markets in the world. It is unique in terms of its young population, and the need for technology to resolve many of the challenges that we face on the continent. It makes a lot of sense for us also as an organization to be expanding south.” Said Ramez El-Serafy, CEO at Flat6labs, a sister company to The GrEEK Campus.  

The 19th Annual AVCA Summit showed us that Egypt is poised to play a significant role in shaping the future of African investment and beyond. With its booming young population, strategic location, and favorable government policies, it is not at all surprising that Egypt has become one of the top investment destinations in Africa.  

 

And it all starts here at The GrEEK Campus... 

Sign up for a visit and become a member of Egypt’s thriving startup ecosystem today.