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Egypt tops list of countries concluding financing deals for startups


Egypt tops the list of countries clinching financing deals for startups in the Middle East and North Africa with 27% of concluded deals and ranked second in terms of attracting investments to emerging companies in the technological domain, said Investment Minister Sahar Nasr on Sunday.

Egypt also jumped six places in the 2020 doing business report and 19 places in the enterprise startup index released by the World Bank, Sahar said during the sixth conference of bankers and businesspeople.

More than 600 CEOs of companies and banks in addition to businessmen are taking part in the conference.

Nasr noted that Egypt comes the first as an investment-magnet country in Africa for the second time in a row, according to the 2019 report by the Organisation for Economic Co-operation and Development.

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