Ashraf AboArafe
Nine exciting Egyptian businesses have today graduated from the UK-funded Climate Finance Accelerator (CFA) programme. The projects were celebrated at an event hosted by the British Ambassador Gareth Bayley and attended by Dr. Mohamed Farid, (Chairman of the Board of Directors, Financial Regulatory Authority), and Mahmoud Mohieldin (UN Climate Change High-level Champion for Egypt).
Each business has received three months of capacity building training from financial, technical and gender equality and social inclusion experts. Today entrepreneurs have met with investors who have provided detailed advice and feedback on their projects. The entrepreneurs then gave a final presentation to investors and had the opportunity to network and hold discussions with interested financial institutions.
The projects from Agrisolar, Egrobots, EGYMAG Biotechnology, HNE Futures, Loop Micromobility, MEDEX Smart Solutions, Plstka and Plug ‘n’ Grow have the potential to benefit communities across Egypt. They aim to reduce pollution, provide employment, support food and farm security, generate clean energy, provide green transport and deliver effective waste management.
British Ambassador to Egypt, Gareth Bayley, said:
“I’m proud to witness the graduation ceremony of nine innovative projects from the second cohort of the UK-funded CFA programme. Following on from the UK-Egypt Green Partnership, our new government has renewed its commitment to work closely with Egypt to combat climate change through the CFA programme. This is an excellent programme that not only supports sustainable business initiatives and green infrastructure, but also backs Egypt’s transition to a greener economy. These projects demonstrate the tangible progress being made, and I look forward to seeing the positive impact they will have in reducing emissions and building a more environmentally-friendly future for Egypt.”
Yehia Houry, Chief Programme Officer of Flat6Labs said:
“The successful completion of the CFA program’s second cohort in Egypt demonstrates the immense potential of the Egyptian private sector to drive climate action. By working closely with the 9 projects and all the partners, we have helped these innovative projects take a significant step towards securing investment and reducing carbon emissions.
We are proud to have played a pivotal role in supporting Egypt’s climate ambitions and contributing to a more sustainable future.”
