22 January 2019 08:40 AM

Speech by his Excellency President El Sisi in African Entrepreneurs session

Monday، 18 December 2017 - 12:42 PM

Ladies and Gentlemen

My dear entrepreneurs, you are the present and the future of our precious continent, the most precious treasure we have and the main source of endless energy.

I am quite sure that you are capable of becoming the basic motive for economic activities and could contribute effectively to providing job opportunities and achieving comprehensive sustainable development that all peoples around this continent are seeking.

The advanced and the developing economics are interested in supporting creativity, entrepreneurs and youth as they have positive contributions in economic development. We witness how they establish and grow ventures that become in a short time international establishments with a market value exceeding the total local production of some states.  

Here I would like to confirm my confidence in the capacities and the promising potentialities of our youth specially that youth under 25 years of age in Africa represents 60% of Africa total population. Also, the African market will be expanded to reach 2.4 billion in 2050 which necessitates the enhancement of cooperation between the government and the private sector for  mobilizing our resources and developing entrepreneurship in Africa.

I strongly stress the importance of coinciding with the latest technological development on the international scale and benefiting from the available opportunities so that Africa could join the fourth industrial revolution. Hence I previously announced during the World Youth Forum last November in Sharm El Sheikh the establishment of the first regional Center for entrepreneurs in Africa to become a platform for cooperation and exchange of experience to support entrepreneurs in this continent.

Supporting entrepreneurs  is our priority specially those who present creative solutions for confronting challenges that the continent is facing in all fields e.g. education, health and basic services that should be available for all segments of society at low  cost and in conformity with high quality standards.

In Egypt we are doing our best to support entrepreneurs, the rising companies, the small and medium enterprises and the young investors. We carried out a number of programs and initiatives, the most important of which:

First: Driving entrepreneurship through education and scientific research, developing curriculum to grow creativity, innovation and self-development within students to coincide with the latest international development, and also supporting universities and research centers to turn all researches and studies into investment opportunities.

Secondly: Providing entrepreneurs and young investors with fund and capacity building programs, creating a business environment that enables them to establish fast growing companies through the Central Bank of Egypt initiative that promotes the small and medium enterprises offering easy financing; and Egypt program that provides the new rising companies with financial and technical support sharing all risks with the youth. The largest business embracement in Africa is established through this initiative.

Thirdly: Improving the legislative environment and providing institutional support, as for the first time the new investment law includes the state’s support for the new rising companies and the small and medium enterprises to empower the youth and small investors and encourage entrepreneurships. Moreover new laws and legislations are issued to coincide with the latest economic developments e.g. Industrial license, e-payment service; and the enterprises law is amended to contribute to the flourishment of the business environment in Egypt. Also entrepreneurs service centers are established around the Egyptian governorates to help the rising companies, providing them with services on the establishment of enterprises and other governmental services in addition to the training programs, workshops, legal and technical support and information on the various sources of funding and means to get fund.

Africa’s promising youth,

You are the future of the continent and its competitive excellence .. you are the real source of its treasure and its prospect for a better tomorrow. We confirm our support for you and highly depend on you to fulfill our future dreams which we hope for our dear continent .

Ladies and Gentlemen
Thank you very much

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