Speaking at an IFC-hosted panel in Cairo on Wednesday, ahead of the Africa Financial Summit (AFIS), Kont said MSMEs account for nearly 90 percent of jobs in most economies, despite the visibility of large corporations.
“Our goal is to create more employment in every jurisdiction we operate,” Kont told Ahram Online when asked about the IFC and other financial institutions' role in attaining the targets of Egypt’s Narrative for Economic Development, especially regarding job creation. “While corporates may dominate headlines, MSMEs are the backbone of job creation.”
Kont said the IFC’s role is not to compete with banks or the private sector, but to act as a catalyst. Technical assistance and partnerships with the IFC, he added, often serve as a “seal of approval” that boosts investor confidence and attracts regional and global capital.
Capital market strategy
Addressing Egypt’s capital-market potential, Kont highlighted a new IFC programme targeting non-bank financial institutions (NBFIs).
“We will invest more in long maturities, particularly in leasing and microfinance companies, and some of this will be in local currency,” he said.
He explained to Ahram Online that the programme is designed to mobilize wider investment flows. “If I put in one dollar, I aim to bring in four more,” he said. “In Egypt, if I invest EGP 100, I expect to mobilize EGP 400 through a group of investors.”
Kont noted that while banks are relatively sophisticated, NBFIs serve critical segments of the economy and require alternative funding channels. The initiative aims to deepen market participation and expand access to finance for underserved sectors.
Egypt's regional role
The Africa Financial Summit, co-hosted by the IFC and Jeune Afrique Media Groupe, will take place on 3–4 November in Casablanca, Morocco, focusing on how Africa’s financial sector can advance sustainable development.
Responding to an Ahram Online question about what the summit could mean for Egypt, Kont said it would raise the country’s regional profile and create new opportunities for trade and financial integration, particularly in sectors where Egypt already holds an advantage.
He cited construction as one such area. “Egyptian contractors are among the best on the continent. They’re gaining attention not only for executing major projects but also for building partnerships with financial institutions across the region,” Kont stated.
He added that regional trade between Egypt, the Levant, Maghreb, and sub-Saharan Africa must continue to grow. AFIS, he added, offers a platform to mobilize more capital, attract investor confidence, and strengthen Egypt’s role in Africa’s financial and development landscape.
Investment pipeline
Kont revealed that the IFC plans to support the issuance of EGP-denominated bonds during the current 2025/26 fiscal year to support small businesses.
He described Egypt as “a cornerstone of IFC’s regional investment strategy.”
“Our investment portfolio has already reached $1.5 billion, and we plan to exceed $2 billion this year,” he said, noting that nearly $1 billion has gone toward climate finance in Egypt.
Much of that support falls under IFC’s 30 by 30 Zero Advisory Programme, which partners with financial institutions to raise climate-related lending to 30 percent by 2030 while phasing out coal exposure. The initiative also works to develop domestic markets for green finance and improve regulatory frameworks for sustainable investment.
Kont cited several milestones in Egypt, including the country’s first green bond, issued with the Commercial International Bank (CIB), and IFC’s lead participation in a $500 million sustainability bond by Arab International Bank (AIB), Africa’s largest such issue by a private bank.
IFC contributed $300 million to the bond, which finances industrial energy efficiency, small-scale renewables, and green building projects.
Gender and inclusion
Expanding access to finance for women entrepreneurs is also a priority.
“Sixty percent of our regional projects last year included financing directed to women and women-owned enterprises,” Kont said.
In Morocco, IFC has made equity investments in banking and insurance to support smaller businesses and agribusinesses, particularly those led by women.
Local partnerships
In Egypt, IFC currently works with 10 financial institutions, mostly banks, and aims to reach 15 clients within the next year.
Kont said diversifying partnerships to include leasing and microfinance firms is key. A new capital-markets programme will offer long-maturity, local-currency financing, including securitizations and debt issuances.
“We want to different profile of investors; pension funds, insurance companies, and asset managers who hold significant liquidity in Egyptian pounds,” he said. “Our goal is to play a catalytic role in expanding the investor base and making the process more sustainable.”
The IFC has also signed risk-sharing facilities and guarantees with several Egyptian banks and plans to scale them up.
Kont reaffirmed the organization’s commitment to job creation through MSME finance, agribusiness investment, and capital-market development, integrating climate, digital, and gender priorities across Egypt’s financial sector.
“We are proud to co-sponsor AFIS again this year, and several Egyptian banks and companies have registered for the event,” Kont said. “Egypt is a large, dynamic economy with strong banks and young human capital. It will continue to lead private-sector development across the continent.”
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