Egypt graduates 12 green businesses at GreenShift Summit
The GreenShift Programme supported 12 scaleups in Greater Cairo and the Delta with EGP 57.5m in investment.
Nahdet El Mahrousa hosted the GreenShift Summit on Tuesday, October 27, in Egypt, bringing together over 150 industry leaders and entrepreneurs. The summit celebrated the graduation of 12 green scaleups from Greater Cairo and the Delta that received acceleration support and EGP 57.5m in investment through the GreenShift Programme.
The programme, a partnership between Nahdet El Mahrousa and GIZ, co-funded by the European Union and the German Federal Government, aims to help green enterprises commercialise their solutions. Mostafa Ashraf, private sector adviser at GIZ, noted that access to equipment financing is a key challenge for scaling businesses, a challenge the programme addresses by financing machinery.
The graduating scaleups operate in sectors including climate action, the circular economy, and waste management. Tarek Makram, founder of Extractor Co., credited the GreenShift Programme with providing financial support and expert guidance to overcome challenges in establishing his factory. The programme received 1,353 applications and trained 46 fellows.
Why it matters12 Egyptian green businesses received investment and support to scale their operations in sectors like waste management and the circular economy.