Key priorities included accelerating reforms, expanding regional trade, deploying innovative financing, and deepening development partnerships to support inclusive growth across Egypt and the continent.
“We support the right sponsor, no matter the nationality,” said Cheick-Oumar Sylla, IFC’s Regional Director for North Africa, pushing back against perceptions that the institution favours foreign firms.
The IFC, the private-sector arm of the World Bank Group, will mark 50 years of operations in Egypt next year.
With nearly 120 staff in-country, it maintains one of its largest regional footprints, serving Egypt and broader North Africa.
The IFC currently holds a $2.5 billion portfolio in Egypt, with recent annual commitments nearing $1 billion—investments span ports, manufacturing, tourism, and more—targeting local and foreign companies.
“Our goal is to add value and mobilize resources,” Sylla said, noting that $1 billion in IFC support can attract as much as $4 billion in total project financing. “We’re here to finance, de-risk, and help build a resilient private sector.”
As part of its 2030 strategy, the IFC aims to scale up equity investments and mobilize more patient capital to fuel innovation and elevate homegrown champions.
Beyond financing, the corporation advises both government and business on shaping a more investor-friendly environment.
Speaking at the forum, World Bank Country Director for Egypt, Yemen, and Djibouti, Stéphane Guimbert, called on Egypt to accelerate structural reforms that boost investment and private-sector growth.
“Over the past 20 years, Egypt’s growth per capita has averaged around two percent—half the rate of comparable middle-income countries,” Guimbert noted.
To move faster, he said, Egypt must transition from a non-tradable, consumption-driven model to one led by exports and private investment.
Guimbert laid out three priorities: attracting foreign direct investment, reforming state-owned enterprises to level the playing field, and supporting small and medium enterprises (SMEs) through regulatory streamlining and improved access to finance.
Private investment in Egypt, he said, remains low—only about six percent of GDP, one-fourth the level seen in peer economies.
He also stressed the importance of a consistent economic policy framework, improved transparency, and strengthened public-private trust.
Reforms to taxation and governance and the recent creation of a sovereign-backed “fund of funds” to expand SME equity financing were cited as promising steps.
Guimbert argued that Egypt’s female labour force is a significant untapped resource. “With only 18 percent participation, there’s enormous potential here—and finance has a critical role to play.”
Haytham El-Maayergi, Executive Vice President of the Global Trade Bank at Afreximbank, urged Egypt’s private sector to take advantage of the African Continental Free Trade Area (AfCFTA) and expand across the continent.
“Afreximbank is a $40 billion multilateral bank with a mandate to enhance both intra-African and extra-African trade and investment,” El-Maayergi said, noting that the bank provides a unique gateway for Egyptian private sector companies to scale up and access new markets.
Citing a recent $2 billion fertilizer plant deal in Angola, El Maayergi highlighted how Egypt can play a central role in industrializing Africa.
“We’re helping Angola go from being a net importer to a net exporter, and we’re looking at similar industrial projects within Egypt to serve African demand,” he said.
“Africa’s demand is there, and Egypt has the know-how,” he said.
El Maayergi emphasized two key strategies: growing Egyptian exports and encouraging firms to expand into African markets.
“Pharmaceuticals, infrastructure, food security—these are sectors where Egypt has the edge.”
He underscored the role of Afreximbank’s support tools, including its Pan-African Payment and Settlement System (PAPSS), which allows businesses to trade in local currencies. “A Kenyan buyer can pay in shillings; the Egyptian exporter receives pounds.”
The bank has backed Egyptian firms across the continent, including through nine newly developed industrial zones. “Africa trades very little within itself—just 15 percent, compared to 70 percent in Europe. Egypt is strategically placed to be a regional export hub.”
He encouraged large Egyptian companies to partner with local banks and leverage Afreximbank’s resources to scale beyond borders: “If you have a competitive product or service and the intention to expand, we can help you take it further”.
Jorge Rubio Nava, Global Head of Social Finance at Citi, stressed the value of deeper collaboration between private investors and development finance institutions (DFIs).
“Without the foundational work of multilaterals, we couldn’t structure transactions at scale for underserved communities,” he said.
Citi’s Social Finance team, launched two decades ago, has evolved from focusing solely on financial inclusion to addressing broader social outcomes.
With operations in 96 countries — more than half of which are emerging markets — the bank leverages local teams and currency capabilities to support high-impact projects through intermediaries like financial institutions and fintech platforms.
In 2021, the bank committed $1 trillion over a decade to sustainable finance, half of which is earmarked for social goals.
Additionally, 2024 saw Citi issue a $3 billion social bond focused on emerging markets, including Egypt.
Rubio Nava pointed to Egypt’s growing fintech scene as a model for inclusive innovation. “These entrepreneurs and tech platforms are transforming access to finance,” he said. “They are digitizing mom-and-pop shops and expanding SME lending in efficient and scalable ways.”
“Our framework aligns capital from our Treasury with social impact goals,” Nava added. “Last year alone, we mobilized $5 billion through our financial institution clients. This is how we connect global investors with grassroots development.”
Nava concluded by stressing that digital access, particularly in Egypt, presents one of the most promising frontiers for scalable, inclusive growth. “Digital financial services are no longer optional; they are essential. We see Egypt as a hub of innovation in this space, with ambitions to expand into other markets.”
With mounting macroeconomic challenges, participants agreed that Egypt’s future growth depends on empowering the private sector, expanding regional ties, and investing in homegrown innovation.
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