Introduction to Egypt’s Banking Sector
Egypt’s banking sector is experiencing a period of significant growth and transformation, driven by strong liquidity, rising deposits, and a wave of digital innovation. As of March 2025, domestic liquidity in the sector reached EGP 12.566 trillion, according to data by the Central Bank of Egypt (CBE). This reflects the confidence of households and businesses alike in the stability and resilience of Egypt’s financial institutions.
Standard Chartered’s Expansion in Egypt
Against this backdrop of sectoral strength and modernization, Standard Chartered’s entry and expansion in Egypt signal growing opportunities for both local and international investors. In a recent interview, Mohammed Gad, CEO of Standard Chartered Egypt, discussed the bank’s strategic priorities, its commitment to supporting key sectors and women entrepreneurs, and its vision for contributing to Egypt’s ongoing economic transformation.
Supporting Women-Led Startups
The Standard Chartered Foundation is playing a pivotal role in launching the Futuremakers Women in Tech Egypt accelerator. This initiative aims to address the critical barriers facing women-led startups in Egypt, including access to funding and non-financial support. The program provides mentorship, investment-readiness training, and access to global networks for selected entrepreneurs.
Tailored Support for Local Business Environment
Standard Chartered is committed to ensuring that participants in the Futuremakers Women in Tech Egypt accelerator receive tailored support that addresses the local business environment. The program is open to all business models, with a special focus on talented women working in the technology space. The top three winners will each receive equity-free funding of $10,000, and all participants will benefit from an intensive eight-week workshop designed to address the realities of the local business environment.
Economic Impact and Job Creation
The goal of the Women in Tech accelerator is to support 400 women entrepreneurs and enable over 1,200 jobs across the region. This initiative is expected to drive both job creation and economic inclusion, two goals that go hand in hand. By supporting female talent, which remains an underutilized resource in Egypt’s economy, the program aims to create a real and lasting impact across the country.
Empowering Women and Promoting Financial Inclusion
Beyond the accelerator, Standard Chartered is pursuing other initiatives and partnerships to empower women and promote financial inclusion in Egypt. The bank is committed to building on the success of the Futuremakers Women in Tech Egypt accelerator and creating a sustained platform that drives financial inclusion and empowers more women to lead and grow innovative businesses.
Strategic Priorities and Global Network
Standard Chartered’s expansion in Egypt is driven by its commitment to delivering the full suite of financial products and services offered by the Standard Chartered Group. The bank is focused on supporting the corporate sector, government entities, and financial institutions, playing an active role in advancing Egypt’s economic priorities. Standard Chartered’s global network enhances trade and investment opportunities for Egyptian companies, providing tailored financing solutions, connecting clients with potential investors, and facilitating cross-border trade and investment opportunities.
Financial Performance and Targets
Standard Chartered has reported strong financial results globally and regionally in recent quarters. In Egypt, the bank is focusing on several priority sectors, including the industrial sector, tourism, real estate development, banking services, and government financing. The recent interest rate cut is expected to help reduce the fiscal deficit in the state budget and stimulate broader economic activity, reinforcing the bank’s view that Egypt remains a high-potential market for growth.
Conclusion
In conclusion, Standard Chartered’s expansion in Egypt is a significant development for the country’s banking sector, offering new opportunities for local and international investors. The bank’s commitment to supporting women entrepreneurs, promoting financial inclusion, and driving economic growth is expected to have a lasting impact on the Egyptian economy. As the country continues to undergo significant transformation, Standard Chartered is well-positioned to play a leading role in advancing Egypt’s economic priorities and contributing to its ongoing development.
