Achieving the UN Sustainable Development Goals by 2030 will require Africa to be innovative to help unlock the potential of its young entrepreneurs, especially in a challenging global economic environment.
The project supporting entrepreneurship in Egypt, Tanmia wa Tatweer: Egypt's Entrepreneurship Development Project, is a prime example. By supporting more than 500 start-ups in the country, it has positively impacted the people and the environment. It has empowered the youth and women, particularly in Upper Egypt and remote areas. It has created at least 8,400 jobs and supported innovative, clean, green start-ups.
Funded by the Danish-Arab Partnership Program, it was designed and supported by the African Development Bank and implemented by Egypt's Academy for Scientific Research and Technology (ASRT). Tanmia wa Tatweer is backed by a Ꞓ4 million grant to nurture start-ups and improve the quality of their products and services. The scheme is part of a larger regional initiative across North Africa called Souk Ettanmia. The initiative started in Tunis in 2013 and after its success, was replicated to cover Morocco and Egypt with some modifications to suit the individual country contexts.
According to Gehane El-Sokkary, Principle Socio-Economist at the African Development Bank in Egypt, Tanmia wa Tatweer is premised on the Bank's "Jobs for Youth" strategy and aligns with the Gender Strategy as well as the "High 5" strategic priority to improve the quality of life for the people of Africa.
The project is the first to introduce entrepreneurship incubation programs in the New Valley Governorate in southwest Egypt. It offers existing and potential entrepreneurs training, financing and networking opportunities in agribusiness, clean and green, and creative industries.
"It was very gratifying to see the enthusiasm of the entrepreneurs when new horizons were opened to them," El-Sokkary said. She thanked the President of ASRT, the Governor of New Valley, and other stakeholders such as the Micro, Small and Medium Enterprise Development Agency, Nasser Social Bank, the National Bank of Egypt, and public and private sector service providers for their support.
Tanmia wa Tatweer's Project Director, Shaimaa Helal, said the project focuses on youth and women in Upper Egypt and the New Valley.
"We had 12 programs in these two regions and a program in Cairo," she said. "We provided 529 start-ups with technical support in business, technology and marketing, as well as legal and financial services. We helped them create their prototypes and provided financial assistance through grants and seed funds ranging from Ꞓ2,500 to Ꞓ51,000."
She added that women lead 66% of these start-ups. In addition, the project plans to launch Arabized online courses in entrepreneurship development so that many more can access these trainings at their own pace.
In Tunisia and Morocco, the program facilitates financing and supports the creation of micro, small and medium enterprises. It has helped cut unemployment, promotes equality between women and men, and prioritizes preserving the environment.
Tanmia wa Tatweer has helped integrate informal enterprises into the formal economy, which is a major objective of the African Development Bank. "We have helped over 90 start-ups to register formally and move into the formal economy. This is very important for us, and it makes the difference with other equivalent programs," said Helal. The success of Tanmia wa Tatweer is such that the Academy for Scientific Research and Technology will be adopting it as one of its programs and will be financing it.
The African Development Bank plays a significant role in supporting the private sector, entrepreneurship and small and micro projects across Africa, including Egypt.
