Egypt: A Strategic Partner In Shaping The Future Of African Entrepreneurship

By Zahra Baitie-Boateng, Managing Director, Africa at Africa’s Business Heroes

This year, the Africa’s Business Heroes (ABH) Semi-Final in Cairo marked a watershed moment not only for the competing entrepreneurs but also for our broader community within Africa’s entrepreneurial ecosystem.

The gathering in the vibrant city of Cairo, coupled with a high level of participation, validated Egypt’s role as a dynamic hub for entrepreneurship and innovation and symbolized what is possible across the continent through initiatives like ABH.

The choice of Cairo as host to the 6th edition of the ABH Semi-Final was driven by a myriad of factors centered around our pan-African value.

Previous editions of the competition have given North African finalists a chance to visit Sub-Saharan Africa (SSA), often for the first time, resulting in collaborations that have enabled some of our Egyptian finalists to set up operations in SSA.

This year, we wanted to similarly give our finalists from SSA a chance to engage with the Egyptian ecosystem. As an initiative that aims to showcase the best of African entrepreneurship, including various ecosystems, this was the perfect opportunity to spotlight this dynamic entrepreneurial environment which is home to several of our finalists, including Grand Prize Winner Khadija El-Bedweihy of PraxiLabs, First Runner-Up Omar Sakr of Nawah Scientific and Second Runner-Up Ayman Bazaraa of Sprints.

For entrepreneurship to be a vehicle for real, lasting change in Africa, as we believe it can be, entrepreneurs from every corner of the continent must have access to opportunities for collaboration and market exposure.

The Semi-Final, therefore, brought together some of the continent’s best and brightest – our Top 20 finalists – many of whom were visiting North Africa for the first time.

They came not only to compete for grants but also to tap into a wealth of opportunities that could shape the future of their businesses and connect with other founders and business leaders from diverse sectors across the continent.

These 20 entrepreneurs represent 11 countries and span eight critical industries: from healthcare, agriculture, and education to financial services, ICT and logistics.

They brought diverse and innovative solutions to their pitches, addressing challenges that matter deeply to African communities and global markets. However, what is equally important is the ecosystem they stepped into in Cairo.

Egypt stands as a beacon of entrepreneurial excellence and plays a critical role in the African startup ecosystem. Over the years, right here at ABH, we have seen 34 Egyptian entrepreneurs, 11 of whom are remarkable women, rise through the competition as Top 50, Top 20 and Top 10 finalists.

Egypt’s high representation in the ABH Competition is a testament to how an enabling environment can spur the growth of transformative businesses and attract investment.

From venture capital firms like Flat6Labs, to world-class entrepreneurial events run by RiseUp Summit, the Egyptian ecosystem has embraced entrepreneurship and its enablers, and is creating spaces like Kamelizer and the wider District 5 enclave where ideas and enterprises can flourish.

In keeping with these ideals, we designed a series of activities at the Semi-Final focused on capacity building, skills development, mentorship, and network expansion.

This was crucial, as the future of African entrepreneurship extends beyond securing funding; it’s about providing entrepreneurs with the support systems necessary for long-term success.

Egypt, with its thriving entrepreneurial ecosystem, served as the perfect backdrop for executing this approach. By partnering with organizations such as The FutureList, Sand Technologies, ALX Ventures and convenors like RiseUp Summit, we ensured access to resources capable of significantly shaping the path of the Top 20 and other entrepreneurs in attendance.

We organized a series of practical workshops and training sessions with real-world relevance. One of the highlights was a keynote speech by Mohammed Abouelnaga Nagaty, CEO and Founder of Exits MENA, who offered invaluable insights on ‘Navigating the Investment Landscape during Macroeconomic Shocks’ – a topic directly tied to the financial and structural challenges entrepreneurs face today.

This was followed by a panel discussion on ‘Building Future-Proof Businesses,’ where experts shared strategies for long-term resilience, equipping participants with actionable advice for thriving in an unpredictable marketplace.

Amey Birje, Senior Trainer at Alibaba Cloud, also led a specialized training session on cloud technologies, empowering entrepreneurs with digital tools to scale their businesses.

Additionally, our accessibility and inclusion partner Helm hosted a blindfolded networking challenge, pushing participants to explore communication, collaboration, and problem-solving – key elements of entrepreneurship that mirror real-life business challenges.

These sessions not only honed the skills of participants but also ensured that they gained practical, hands-on experience relevant to the everyday realities of running a business.

Ultimately, staying true to our mission, the 2024 ABH Top 20 did more than pitch their ideas; they connected with a community that believes in the potential of African entrepreneurs to solve some of the continent’s most pressing challenges. And they did so in a city that exemplifies how an enabling environment can catalyze innovation and drive growth.

We firmly believe that entrepreneurship cannot thrive in isolation; it must be nurtured by ecosystems that cross borders. Egypt, in this sense, was not just a venue; it was a strategic partner in shaping the future of entrepreneurship across the continent.

The future of African entrepreneurship is bright, and Egypt’s rise as a hub for innovation and entrepreneurship remains a vital part of that story.

Looking back at the ABH Semi-Final, we are not only excited about the businesses progressing to the Grand Finale stage in Kigali, Rwanda, but also about the partnerships, collaborations, and innovations that arose from bringing the continent’s best entrepreneurs together in Cairo.

This was a meaningful step for the ABH community, one we hope will inspire lasting impact for the African entrepreneurs who attended and resonate across the ecosystem.

It’s African Time!