Press release:

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 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.

Scale It Forward was co-developed by GIZ Egypt and enpact to introduce Venture Debt as an alternative financing instrument for Egyptian scaleups seeking growth capital without equity dilution. The 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.

Egypt’s startup ecosystem has continued to evolve, increasing demand for a wider range of financing instruments to support businesses beyond the early stages of growth. While equity financing remains an important source of growth capital, Venture Debt can provide scaleups with an additional financing option that allows them to raise capital while maintaining ownership.

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. The institutions will also gain access to a pipeline of selected scaleups.

As part of the pilot, participating Financial Institutions will 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 €5,000 per business, matched by €5,000 in non-repayable financial support provided through the programme.

By combining support for scaleups with financial sector capacity building, Scale It Forward aims to demonstrate how Venture Debt can complement existing equity financing options and provide founders with greater flexibility as they scale.

“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.

Sherif Younis, Head of Project Job Partnerships and SME Promotion in Egypt (JP-SME) at GIZ Egypt, added: “Securing these partnerships is a pivotal milestone in our mission to support sustainable growth for Egyptian businesses. By working alongside committed financial institutions, we are not only expanding access to Venture Debt for scaleups seeking growth capital, but also strengthening the financial sector’s capacity to develop and deploy this financing instrument in a structured and sustainable way, contributing to long-term economic growth.”

Scale It Forward is co-developed and implemented by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH in Egypt and enpact, under the patronage of Invest for Jobs – the Special Initiative “Decent Work for a Just Transition”, on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ).