Mohammed Okasha, chairman of the board of directors and founding partner of the disruptec fund, unveiled the expected amount of funds to be invested in Egypt by foreign private African and Gulf Investment Funds at USD 220 million over the next two years, according to international reports
Okasha added, during his speech at the “communication, technology and opportunities to attract foreign investments session”, which was held during the activities of the ninth annual conference of CEOs on the opportunities for investors and startups in the Egyptian market, explaining most notably that investing during difficult times is the best time to invest, which is the best time to invest, especially with the support of the Egyptian state for digital transformation projects and the trend towards universal financial inclusion in all sectors, in addition to the absence of foreign investors at the current stage to invest in local startups is a great opportunity for local investors and gives an opportunity for Egyptian investors to inject funds without Overvaluation of companies
The founding partner of the disruptec Fund stressed the need to prepare Egyptian startups during this stage, which is sometimes slowing down by rearranging the house from the inside and preparing to receive new funds, which can be considered an opportunity to enter it at the moment, calling for the need to move towards opening new export markets and not being content with the local market, especially since there are Gulf and European markets waiting for Egyptian products that are designed with trained and distinguished human minds in new fields such as
He stressed that Egypt is one of the three countries in Africa, one of the best countries to invest after South Africa and Nigeria, especially in light of its population, 75% of which are young people under the age of 40, in addition to the availability of telecommunications infrastructure and cheap internet prices
Okasha attributed the reason for the decline in the investment market in venture capital companies due to high inflation rates around the world as a result of the corona pandemic in 2020, and then the Russian-Ukrainian war, which turned the central banks to raise interest and push investors to invest in new sectors from which they get a steady return, pointing out that the re-pricing of major companies in the market affected all existing entities
