Dr. Ahmed Rustom, Egypt's Minister of Planning and Economic Development, recently participated in a high-level discussion titled "Entrepreneurship in Africa: Opportunities and Challenges" at the first edition of the "El Alamein - Africa" Business Forum. The event took place in El Alamein from October 2 to 4, 2026. During the session, Dr. Rustom presented Egypt's vision for developing an innovation ecosystem, emphasizing that supporting start-ups is no longer optional but a primary driver for the economy's structural transformation.
According to Dr. Rustom, Egypt's vision extends beyond merely increasing the number of start-ups to building a comprehensive system that ensures their continuity, expansion, and connection to vital sectors such as manufacturing, artificial intelligence, green industries, and financial technology. He noted that the ongoing 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.
Dr. Rustom stressed the importance of decentralization in the entrepreneurship environment, insisting that innovation should not be limited to Cairo but should also encompass other governorates, including Upper Egypt, the Delta, and the Suez Canal region. He emphasized the need to facilitate access to financing and business incubators for young people in various governorates. Furthermore, Dr. Rustom highlighted Africa as a top strategic priority, calling for a shift from the traditional view of the continent as merely an export market.
The Minister proposed an initiative to develop a "joint innovation" model between Egyptian and African entrepreneurs, focusing on technology exchange and the creation of 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 addressing the challenges of investing in the continent.
Dr. Rustom suggested that this approach could turn Egypt into a strong launchpad for African start-ups to access global markets. The session, moderated by Dina Sharif, Director of the Kauffman Shaperber Center for Prosperity and Entrepreneurship at the Massachusetts Institute of Technology (MIT), featured active participation from entrepreneurs and investors, including Bilal Al-Magrabel, Co-Founder and CEO of MaxAB, and Linda Olagunju, Founder and CEO of DLO Energy Resources.
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. The event has attracted around 1500 business leaders and financial institution representatives from across the continent.
The discussions at the forum highlighted the potential for entrepreneurship to drive economic growth and integration in Africa. With the right support and investment, African start-ups can become a major force in the global economy. The Egyptian government's efforts to promote entrepreneurship and innovation are seen as a key step towards achieving this goal.
Key points
- Egyptian Minister of Planning and Economic Development Dr. Ahmed Rustom emphasizes the importance of entrepreneurship in driving the country's structural transformation and deeper African integration.
- Dr. Rustom proposes a "joint innovation" model between Egyptian and African entrepreneurs to develop cross-border regional value chains.
- The "El Alamein - Africa" Business Forum brings together around 1500 business leaders and financial institution representatives to discuss opportunities and challenges in African entrepreneurship.
