Sawari Ventures, a Cairo-based venture capital firm, has announced plans to create a $150 million investment fund to promote Egyptian companies. According to Hani Al Sanbati, CEO and co-founder of the North Africa-focused investment firm, the fund will be allocated to various sectors across the country, including education, healthcare, fintech, green tech solutions, and deep tech initiatives.

This fund is amied at promoting long-term growth in the startup ecosystem. Since its creation in 2010, the organization claims to have supported about 500 startups, including 19 early and growth-stage companies in Egypt, Tunisia, and Morocco. Fintech makes up approximately 35% of the firm’s portfolio, with an emphasis on digitizing the Egyptian economy and increasing regional financial inclusion.

In a statement made by the North African investment business, Al Sanbati expressed confidence in the current economic conditions, stating that they are ideal for further investment in innovative firms. He also indicated that any previous obstacles faced by technology companies would have no meaningful impact on their overall growth trajectory.

Based on all indications, Egyptian firms backed by Sawari Ventures could receive investments ranging from $350 million to $500 million over the next five years. Al Sanbati noted that this move reflects the investment firm’s larger goal of making Egypt a top global investment hub.

The CEO emphasized the company’s dedication to assisting Arab entrepreneurs and their inventions, stating that Sawari Ventures’ operational architecture is specifically built to catalyze investments while positioning startups for future funding opportunities. He also reiterated departing as an important component of the investment firm’s strategy for funding future innovative ventures.

Given the projected reduction in funding for the African digital sector in 2024, this planned $150 million investment in Egypt’s tech firms is appropriate. In 2024, new and existing players reiterated their commitment to Africa’s tech industry. For example, several Egyptian digital businesses, including FriendyM, Zeal, Bosta, DXwand, Yodawy, and Roboost, announced investments in January.

The same month, Seedstars Africa Ventures got a $30 million financial commitment from EIB Global, a division of the European Investment Bank, to help African firms. A week later, the African Development Bank (AfDB) pledged an extra $10.5 million to Seedstars.

Gabriel Eleojo Umoru
Gabriel Eleojo Umoru
I'm Gabriel Eleojo Umoru, a graduate of Mass Communication from Prince Abubakar Audu University (formerly Kogi State University Anyigba, Kogi State). My hobbies include writing, surfing the internet and listening to music. I'm into voice editing and project management. I also help people out in their research projects.

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