Egyptian Minister of Planning and Economic Development Dr. Ahmed Rustom participated in a high-level panel discussion titled "Entrepreneurship in Africa: Opportunities and Challenges" at the first edition of the "El Alamein-Africa" Business Forum, held in El Alamein from October 2-4, 2026. The forum brought together leaders from the business community and financial institutions from across the continent. Dr. Rustom emphasized the importance of developing an innovative environment in Egypt, highlighting that supporting start-ups is no longer an option but a main driver for economic transformation.
Dr. Rustom showcased Egypt's vision for developing an innovation ecosystem, focusing on creating a comprehensive system that ensures the continuity and expansion of start-ups, linking them to vital sectors such as manufacturing, artificial intelligence, green industries, and financial technology. He stressed that Egypt's vision goes beyond merely increasing the number of start-ups. The minister also highlighted that structural reforms have enabled the Egyptian economy to withstand regional and international challenges, achieving a growth rate of 5.1% during the 2025/2026 fiscal year.
The minister emphasized the significance of decentralization in the entrepreneurship environment, stressing that innovation should not be limited to Cairo but should extend to other governorates, including Upper Egypt, the Delta, and the Suez Canal region. He also called for facilitating access to finance and business incubators for young people in various governorates. Furthermore, Dr. Rustom pointed out that Africa represents a top strategic priority for Egypt, urging a shift from the traditional view of the continent as merely an export market to a comprehensive economic system.
Dr. Rustom proposed an initiative to develop a "joint innovation" model between Egyptian and African entrepreneurs, relying on technology exchange and building cross-border regional value chains. He added that achieving this integration and activating the African Continental Free Trade Area (AfCFTA) agreement requires providing "more patient capital" and expanding the role of venture capital capable of withstanding investment challenges in the continent. This, he believes, will turn Egypt into a strong launchpad for African start-ups towards global markets.
The panel discussion, moderated by Dina Sharif, director of the Kauffman Shaperber Center for Prosperity and Entrepreneurship at the Massachusetts Institute of Technology (MIT), witnessed active participation from entrepreneurs and investors, including Bilal Al-Magrabel, co-founder and CEO of MaxAB; Linda Olagunju, founder and CEO of DLO Energy Resources; and Dr. Dutton Olubuko, managing partner at Ventures Platform Fund.
The "El Alamein-Africa" forum is being held in conjunction with a summit of the founding countries of the African Union Development Agency (NEPAD), organized jointly by Egypt, the African Export-Import Bank (Afreximbank), and the African Union Commission, with the participation of around 1,500 business leaders and financial institutions from across the continent.
The Egyptian government's efforts aim to enhance economic cooperation and innovation with African nations. The "El Alamein-Africa" forum provides a platform for dialogue and collaboration between African countries, focusing on entrepreneurship, innovation, and economic development. The forum's discussions and outcomes are expected to contribute to the growth of African economies and strengthen partnerships between nations.
Key points
- Egypt's Minister of Planning and Economic Development Dr. Ahmed Rustom calls for a cross-border "joint innovation" model with African countries to drive economic growth and entrepreneurship.
