Egyptian fintech companies AMAN Holding, Bokra and Erada Finance have joined Scale It Forward, an initiative launched by GIZ Egypt and enpact to advance the adoption of Venture Debt in Egypt.
The Scale It Forward programme brings together financial institutions and high-growth scaleups with the aim of expanding access to non-dilutive financing, building the financial sector’s capacity to design and deliver venture debt products, and creating a structured pathway for the adoption of Venture Debt within Egypt’s entrepreneurial ecosystem.
The three financial institutions signed framework agreements with enpact during a launch ceremony in Cairo, becoming the programme’s first financial institution partners and marking their commitment to exploring and piloting venture debt solutions designed to support high-growth businesses seeking alternative financing options.
Under the programme, GIZ Egypt will provide participating financial institutions with technical assistance to support the design and deployment of venture debt products within a controlled pilot environment. AMAN Holding, Bokra and Erada Finance will also gain access to a pipeline of selected scaleups.
As part of the pilot, they will also identify promising scaleups from the programme pipeline, while selected businesses will receive tailored support to prepare for Venture Debt financing. Financial institutions will provide venture debt financing starting from the equivalent of EUR5,000 (US$5,800) per business, matched by EUR5,000 in non-repayable financial support provided through the programme.
“Today’s signing event represents the official launch of the Scale It Forward programme. By bringing together three forward-looking financial institutions, AMAN, Erada Finance, and Bokra, we are taking a significant step towards establishing venture debt as a practical and scalable financing solution that enables ambitious scaleups in the Egyptian market to scale their businesses, create jobs, and grow without sacrificing equity,” said Rawan Bassam, country manager of enpact in Egypt.