The General Authority for Investment and Free Zones (GAFI) has convened its Advisory Council for the first time, marking a significant step in its support for entrepreneurs and startups. The milestone event, led by GAFI CEO Hossam Heiba and the Central Administration for Entrepreneurship’s Hossam Abdel Qader, brought together influential private sector leaders from Egypt’s burgeoning entrepreneurial landscape.
Chaired by Mohamed Fahmy of Logic Consulting Group, the council includes notable figures such as Sameer Al-Ali, Chairperson of the Business Angels Association and Chairperson of Invista Capital Group for Financial Investments; Ahmed Tarek, Chairperson of Allianz; Hany El Sonbaty, Managing Partner at Sawari Ventures and co-founder of Flat6Labs; Hanan Abdel Meguid, Founder and Executive Partner at Kamelizer Technology; Omar El Metwally, CEO of Sigma Fit; Ahmed El Sherif, CEO of Averroes Ventures; Abdel Hameed Sharara, Founder and CEO of RiseUp; Mohamed Ezzat, Founder of Bosta; Amr El Abd, CEO of Endeavor Egypt; Mohamed Ehab, Executive Director of Entlaq for entrepreneurship support; Louay El Shawarby, Head of Shawarby Law Firm; Haitham Abu Al Nasr, Board Member at M Strategy Global; and Ziad Wafik, Founder of Project 2043.
Following the launch of the Entrepreneurship and Startup Unit and its digital platform last month, GAFI’s latest initiative aims to collaborate with entrepreneurs, address their challenges, and incorporate their insights to foster a conducive business environment. The advisory council, representing the private sector’s voice, will play a pivotal role in guiding the unit in crafting policies and regulations to nurture startup growth in Egypt.
According to Mohamed Fahmy, an action plan that aligns with the “Egypt Vision 2030” strategy and is aimed at refining the entrepreneurial ecosystem is already in progress. This strategic move will undoubtedly have a positive impact on the country’s economic growth and development.
Hossam Heiba also emphasized GAFI’s dedication to working closely with the council to instil an entrepreneurial spirit within governmental frameworks, streamline processes for startups, and forge international partnerships. Additionally, GAFI has plans to expand the Entrepreneurship Support Unit’s presence across its free zones, starting with new locations in Nasr City and Alexandria.
The formation of this Advisory Council marks an important stride towards propelling Egypt’s entrepreneurial landscape forward, and signifies a concerted effort to create a business-friendly environment that is conducive to innovation and growth. As the council continues to work on collaborative strategies, it is poised to bring about positive changes that will benefit entrepreneurs and startups across the country.