Latest news with #SheTradesEgypt
Daily News Egypt
29-07-2025
- Business
- Daily News Egypt
Supply minister discusses strengthening cooperation with ITFC
Sherif Farouk, Egypt's Minister of Supply and Internal Trade, held a meeting today with Adeeb Yousuf Al Aama, CEO of the International Islamic Trade Finance Corporation (ITFC), at the Ministry's office in Alamein. The meeting focused on expanding their partnership and exploring new opportunities for enhanced cooperation. During the discussion, Minister Farouk emphasized the long-standing and successful collaboration between Egypt's Ministry of Supply, represented by the General Authority for Supply Commodities, and the ITFC. He highlighted the corporation's significant role in financing the import of essential goods and bolstering the country's strategic stockpiles. Farouk also underscored the importance of building on this solid foundation and finding new ways to strengthen their partnership moving forward. In response, Adeeb Yousuf Al Aama praised the ITFC-Ministry collaboration, noting that the total trade finance extended to Egypt's supply sector has surpassed $37.5bn since the partnership began. This financial support has primarily facilitated the import of crucial food commodities. Al Aama also highlighted several key milestones in the partnership, including the signing of various country programs and annual agreements, most notably a $3bn agreement that significantly boosted Egypt's ability to secure essential goods. Furthermore, Al Aama pointed out that the ITFC's collaboration with Egypt extends beyond trade finance. The corporation has actively supported initiatives such as 'She Trades Egypt', a programme aimed at empowering women economically, and contributed to the AfTIAS initiative, which seeks to facilitate trade across Arab nations. These efforts reflect the ITFC's commitment to inclusive development and its broader mission of enhancing Egypt's trade and productive capacities. Both parties expressed optimism about the future of their partnership, with a shared focus on creating new avenues for collaboration that will benefit Egypt's economy and support its ongoing development goals.
See - Sada Elbalad
12-04-2025
- Business
- See - Sada Elbalad
Al-Mashat: EGP 300 Bln Invested in Women's Economic & Social Empowerment over Five Years
Nada Mustafa Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, participated in the 10th edition of the She Can Conference, hosted at the Egypt Digital Innovation Center in Giza. The annual event supports female entrepreneurs and aims to shape the future of the entrepreneurship and business landscape in Egypt. In her address, H.E. Dr. Al-Mashat emphasized that Egyptian women continue to demonstrate resilience and the capacity to excel across key strategic fields—including science, politics, and entrepreneurship. She highlighted their vital role in creating and capitalizing on opportunities and their proven ability to achieve inspiring milestones recognized both locally and globally. 'At the Ministry of Planning, Economic Development, and International Cooperation, women's empowerment is central to our strategy and project implementation,' she stated. 'We are committed to fostering a business ecosystem that supports women entrepreneurs, through financing, capacity-building programs, and improved access to markets, in collaboration with local and international partners.' She noted that investments in women-focused initiatives across education, healthcare, social protection, and employment have grown significantly between FY 2020/2021 and FY 2024/2025, totaling approximately EGP 300 billion over five years. These investments directly contribute to increasing the participation of women entrepreneurs in Egypt's development process. H.E. Dr. Al-Mashat also highlighted the SheTrades Egypt initiative, implemented in partnership with the National Council for Women, the Ministry of Trade and Industry, and the International Islamic Trade Finance Corporation (ITFC). The initiative seeks to enhance the competitiveness of women-led businesses and expand their access to both domestic and global markets. She also discussed the She Leads initiative, developed in collaboration with the National Council for Women, the Ministry of Education and Technical Education, and the Young Leaders Foundation. The program targets vocational school graduates, offering training and capacity-building for aspiring women entrepreneurs, and spotlighting outstanding success stories among them. Additionally, the Gender Gap Accelerator, launched in partnership with the World Economic Forum (WEF) and the private sector, aims to close the gender gap in economic participation, opportunity, empowerment, and wages. Egypt is one of the first countries in the Middle East and Africa to adopt this pioneering initiative. All of these programs and initiatives are available via the Hafiz Platform for financial and technical support to the private sector. The platform, launched by the Ministry, connects development partners with private-sector companies—including startups—enabling them to benefit from development financing, technical assistance, and advisory services from international development institutions. H.E. Dr. Al-Mashat further noted the Ministry's involvement in additional initiatives, such as the Equal Opportunities and Women's Empowerment Award, a category within the Egypt Government Excellence Award, and the Women Lead program, implemented in partnership with the National Training Academy. In the same context, and as part of broader efforts to support Egypt's entrepreneurship ecosystem, she referred to the establishment of the Ministerial Group for Entrepreneurship. The group focuses on supporting women-led startups, creating a conducive environment for investment, and coordinating cross-governmental policies to boost this vital sector. She added that the working groups under the Ministerial Group are currently developing a Startup Community Charter for Egypt, standardizing the definition of startups, and formulating streamlined procedures to support them—while also working to limit startup migration abroad. Efforts are underway to evaluate the assignment of a central authority to handle startup registration processes, in addition to examining incentive proposals to encourage larger corporations to invest in startups. On the sidelines of the conference, the final round of the Aurora Tech Award competition took place, with a judging panel that included Mr. Tamer Taha, Advisor to the Minister on Entrepreneurship and Innovation, and Head of the Private Sector Engagement Unit. 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