The GreenShift Summit, hosted by Nahdet El Mahrousa (NM) on October 27, brought together over 150 industry leaders, policymakers, investors, and entrepreneurs to discuss scaling up green businesses. The summit highlighted the journeys of 12 green scaleups in Greater Cairo and the Delta that received acceleration support and EGP 57.5m in investment through the GreenShift Programme. This programme supports green enterprises in commercialising their solutions and expanding their impact.
The GreenShift Programme was implemented by NM in partnership with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH and co-funded by the European Union and the German Federal Government. Mona Shehab, Director of the National Solid Waste Management Programme, emphasized the importance of startups in building a stronger, more sustainable national economy. She noted that innovative ideas and new opportunities generated by startups contribute to economic growth and help advance the country's future development plans.
Mostafa Ashraf, private sector adviser at GIZ, highlighted access to equipment financing as a main challenge facing businesses seeking to scale up. He stated that the high upfront cost of equipment is a significant obstacle, and the GreenShift programme helps address this challenge by financing machinery. This enables companies to continue developing their operations and improve their production processes, ultimately supporting their growth and expansion.
The 12 graduating scaleups operate across several sectors, including climate action, the circular economy, waste management, and recycling. Egyptian startups are advancing the circular economy by transforming plastic, organic, and agricultural waste into building materials, consumer products, and sustainable alternatives. Other enterprises focus on recycling, upcycled electronics, handmade crafts, and Nile clean-up initiatives, demonstrating the diversity of green businesses in Egypt.
Tarek Makram, founder of Extractor Co., discussed the challenges of establishing his company's factory, from sourcing equipment and managing high costs to finding solutions for the waste generated during oil extraction. He credited the GreenShift Programme with helping his company overcome these challenges through financial support, practical guidance on resource allocation, and continued expert consultations. Makram noted that the programme's comprehensive approach was instrumental in turning his vision into a reality.
The GreenShift Programme received 1,353 applications and trained 46 fellows through approximately 160 hours of training, consultations, and a retreat. It also provided EGP 1.3m in productive assets to 18 fellows and supported eight of the 12 funded scaleups in licensing and formalising their businesses. This demonstrates the programme's capacity to provide extensive support to green businesses, from training to financing and formalisation.
The GreenShift Summit and Programme demonstrate the growing focus on green businesses and sustainable development in Egypt. With the support of partners like GIZ, Nahdet El Mahrousa, and the European Union, Egyptian startups are driving innovation and growth in the green economy. The programme's success is evident in the 12 graduating scaleups, which are poised to make a significant impact in their respective sectors and contribute to a more sustainable future.
Key points
- 12 Egyptian green businesses graduate from GreenShift Programme, receive EGP 57.5m investment
- GreenShift Programme supports green enterprises in commercialising their solutions and expanding their impact
- Programme received 1,353 applications, trained 46 fellows, and provided EGP 1.3m in productive assets
