Sisi's recommendations to entrepreneurs in Africa

CAIRO – 9 December 2018: “The African continent is the future of the global economy,” said Egyptian President Abdel Fatah al Sisi Saturday during his speech at the Young African entrepreneurs’ session on the sidelines of the Africa 2018 Forum, held in Sharm El Sheikh Resort city.

Al Sisi said that Egypt is keen to carry out several procedures to support young entrepreneurs, asserting that Egypt adopts encouraging methods towards the youth.

Here is Sisi’s speech during the session:

“It makes me glad to join you at this important event seen as one of the communication and channels and strengthening relations between the states of our African continent, It represents our determination to our vision for the young people in Egypt and in other African countries, and our trust in their minds and abilities.

We fully assure that you are our most precious wealth – besides, we believe that your innovative ideas are the primary incentive to realize economic growth and comprehensive sustainable development. You are the energy capable of making a brighter future for our young continent.

The challenges witnessed by the global economy obligate us to continue cooperation between governments and the private sector to encourage and develop entrepreneurship in Africa, and unify efforts seeking to enable young people in our continent, providing them with the possibilities that unleash their abilities in creation.

Accordingly, we send the whole world a clear message that Africa is the future of the global economy and the entrepreneurship, it acquires all the needed elements that make it capable of realizing an economic boom where entrepreneurship projects will strongly contribute.

As part of our vision to support and enable the youth especially in the field of entrepreneurship, Egypt has decided to take the following procedures.

First, All the State’s institutions have been directed to unify their efforts to establish the first regional center for entrepreneurship in Egypt in order to present all the support for startup companies in Egypt and the region – besides, launching training programs to qualify the youth before entering the world of entrepreneurship.

Second, a call has been made to establish the Arabic/ African Fund to support entrepreneurship in both the African and the Arabic world.

Third, an initiative has been launched to train 10 thousand Egyptian and African young people to design electronic games and applications over the next three years.

Fourth, New laws have been passed to support young projects, such as the law to decorate land transport service using Information technology, and allowing the establishment of one- individual company.

Fifth, establishment of “Fekretak Sherketak”, a nationwide initiative that aims to support and accelerate the growth of entrepreneurs to develop innovate businesses in today’s competitive economy. The first state-sponsored initiative provided more than 450 sessions of assistance to young business owners.

Sixth, around 50 start-ups have been established and funded, under Fekretak Sherketak’s flagship program -- Falak Startups.

Seventh, a competition is launched in cooperation with World Bank’s International Finance Corporation between 100 African Startups, which takes place from 8-9 December and is organized in cooperation with Egypt’s Ministry of Investment and International Cooperation.

The competition will choose 20 of the 100 promising startups from across the continent and connect them with business leaders, international investors, and financial institutions.

My sons and daughters of the continent, we believe in you and your dreams. You are our hope and future. I ask you for hard work, thinking out of the box, and confidence in yourself to turn your ideas into reality.”