Standard Chartered unveils strategic push for women in Egyptian tech

Zawya

3 days ago

Arab Finance: Egypt's banking sector is undergoing a period of robust growth and transformation, underpinned by strong liquidity, rising deposits, and a wave of digital innovation. As of March 2025, domestic liquidity in the sector reached EGP 12.566 trillion, according to data by the Central Bank of Egypt (CBE). This reflects the confidence of households and businesses alike in the stability and resilience of Egypt's financial institutions.
Against this backdrop of sectoral strength and modernization, Standard Chartered's entry and expansion in Egypt signals growing opportunities for both local and international investors. In this interview, Mohammed Gad, CEO of Standard Chartered Egypt, discusses the bank's strategic priorities, its commitment to supporting key sectors and women entrepreneurs, and its vision for contributing to Egypt's ongoing economic transformation.
1-Standard Chartered Foundation is playing a pivotal role in launching the Futuremakers Women in Tech Egypt accelerator. From your perspective, what are the most critical barriers facing women-led startups in Egypt today?
There are two main challenges facing women-led startups in Egypt today. The first challenge is access to funding and the capital needed to bring their technology ventures to life. The second is the lack of non-financial support. This includes essential guidance on building sustainable business models, conducting feasibility studies, and marketing their products or services.
Through the Futuremakers Women in Tech Egypt accelerator, we aim to address both of these challenges, providing not only mentorship and technical support but also access to capital for those whose project ideas demonstrate strong potential.
2-The program promises mentorship, investment-readiness training, and access to global networks for selected entrepreneurs. How will Standard Chartered ensure that participants in Egypt receive tailored support that addresses the local business environment?
We are committed to ensuring that the support provided through this program is relevant and accessible to women across Egypt, regardless of their location. The accelerator is open to all business models, with a special focus on talented women working in the technology space.
Standard Chartered will provide both financial and non-financial support. The top three winners will each receive equity-free funding of $10,000. Beyond that, all participants will benefit from an intensive eight-week workshop designed to address the realities of the local business environment. This includes training on funding strategies, navigating Egypt's legal and regulatory landscape, and building effective marketing approaches.
Our aim is to equip participants with the tools and knowledge needed to grow their ventures within the Egyptian context.
3-With the goal of supporting 400 women entrepreneurs and enabling over 1,200 jobs across the region, what are your expectations for the impact of the Women in Tech accelerator in Egypt, both in terms of job creation and broader economic inclusion?
Our focus is on driving both job creation and economic inclusion, two goals that go hand in hand. What makes this program stand out is its emphasis on diversifying the workforce by supporting female talent, which remains an underutilized resource in Egypt's economy.
At the same time, we see this as a catalyst for long-term economic growth. The leading companies in Egypt 20 years from now may not be the ones dominating today. That is why we are committed to supporting startups and small to medium-sized enterprises as they represent the next wave of innovation and economic transformation. Through this accelerator, we aim to create a real and lasting impact across the country.
4-Beyond the accelerator, what other initiatives or partnerships is Standard Chartered pursuing to empower women and promote financial inclusion in Egypt?
This program marks one of the most significant initiatives we've launched in Egypt to date. While we have the capacity to introduce additional programs, our current focus is on supporting women in the technology sector, where we see immense potential for impact.
This is our first initiative of its kind in Egypt, and we are committed to building on its success in the years ahead. Our ambition is to create a sustained platform that drives financial inclusion and empowers more women to lead and grow innovative businesses.
5-Standard Chartered has recently expanded its presence in Egypt. Can you share the strategic priorities guiding this growth?
Our expansion in Egypt is driven by our commitment to delivering the full suite of financial products and services offered by the Standard Chartered Group, not only locally but also through our international capabilities.
We are focused on supporting the corporate sector, government entities, and financial institutions, playing an active role in advancing Egypt's economic priorities. This growth is underpinned by our belief in Egypt's potential and our commitment to deliver value across key segments of the Egyptian economy.
6-How does Standard Chartered's global network enhance trade and investment opportunities for Egyptian companies?
We support Egyptian companies, particularly those with regional or global ambitions, by leveraging our international network, which spans 53 markets. Through this global footprint, we provide tailored financing solutions, connect clients with potential investors, and facilitate cross-border trade and investment opportunities.
Our ability to operate seamlessly across key corridors allows us to help Egyptian businesses scale beyond their home market and navigate international expansion with confidence.
7-Standard Chartered has reported strong financial results globally and regionally in recent quarters. How has this growth trajectory been reflected in the Egyptian market? And what are your financial targets for Standard Chartered Egypt in the coming years?
We are focusing on several priority sectors in Egypt, including the industrial sector, tourism, real estate development, banking services, and government financing. One recent example is our participation in supporting the government's US dollar bond issuance last January, where we were among the banks assisting the Ministry of Finance.
We are also actively working to attract foreign investment into local debt instruments, a space that is showing strong momentum thanks to improving macroeconomic indicators such as falling inflation and steady growth. These trends create a favorable environment for investment and are aligned with our long-term commitment to supporting Egypt's financial development.
Furthermore, the recent interest rate cut is expected to help reduce the fiscal deficit in the state budget and stimulate broader economic activity. It also supports both direct and indirect investments, reinforcing our view that Egypt remains a high-potential market for growth.
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