Innovative entrepreneurship is considered an alternative solution to unemployment problems in Africa. With the services it facilitates, it is also a major wealth-creator with strong potential. In Egypt, the government wants to capitalize on its potential and reach its 2030 development goals. 

In Egypt, President Abdel Fattah al-Sissi instructed a set of measures to facilitate the creation and operation of startups in the country. The top government official instructed the measures during a meeting, Sunday (May 15), with Prime Minister Mostafa Madbouly and ICT Minister Amr Talaat.

To remove obstacles to the creation of startups and companies, the President ordered Amr Talaat to facilitate the creation of companies through a dedicated digital platform. The ICT Minister was also asked to take measures to allow the creation of virtual companies so that entrepreneurs can save creation costs since they will no longer be bound by the requirement to have a physical headquarters. Facilitations are also planned for virtual companies in Egypt. 

The other instructions given by President Abdel Fattah al-Sissi are aimed at easing the creation of one-person companies, expanding the establishment of free investment technological zones, and tax exemptions for start-ups. The activation of the whitelists of specialized firms authorized to import electronic components was also instructed. 

The national development strategy, Egypt Vision 2030, makes entrepreneurship an alternative solution for youth unemployment. In that regard, the country is taking measures to revive the entrepreneurship drive. Even universities are mobilized to reach that goal. In its report "The Egyptian Startup Ecosystem Report 2021," the Information Technology Industry Development Agency (ITIDA) and Disrupt Africa estimated the number of startups active in Egypt to be 562 in 2021. With the new measures, this number will surely rise exponentially. 

Muriel Edjo