- Accion and Quona Capital express interest in exploring investment opportunities in the Egyptian market
- Accion is a global organization dedicated to advancing financial inclusion and impact investing, with decades of experience in expanding access to financial services.
- Quona Capital is one of the largest venture capital funds specializing in fintech for emerging markets.
Dr. Mohamed Farid:
- MIFT is working to launch a unified digital platform to enhance foreign trade and increase market access.
- Investments should be directed toward companies that deepen industrial value and strengthen export capacity in line with development priorities.
Michael Schlein (Accion CEO):
- The Egyptian Market is a top priority in our financial inclusion and regional expansion plans.
Monica Brand (Co-Founder of Quona Capital):
- Quona Capital’s decision to invest in Egypt underscores its strong confidence in the market’s dynamism.
Dr. Mohamed Farid, Minister of Investment and Foreign Trade (MIFT Minister), met with leaders of Accion, headed by CEO Michael Schlein and Chief Investment Officer John Fischer, alongside Monica Brand, Co-Founder of Quona Capital, at the Egyptian Embassy in Washington to discuss ways to enhance investment in fintech solutions linked to international trade.
During the meeting, MIFT Minister revealed MIFT’s strategy to launch a unified digital foreign trade platform aimed at digitizing all services related to the export and import ecosystem through a single interface. The platform will simplify procedures and reduce transaction times, emphasizing that the platform relies on data integration to enhance the readiness of Egyptian companies to access global markets.
Moreover, Dr. Farid highlighted the project to launch a regulatory TradeTech Sandbox and Innovation Center, designed as the first of its kind to provide a flexible testing environment for adopting technological solutions that support export and foreign trade systems. He emphasized the importance of directing investments toward companies that integrate finance and trade.
Michael Schlein, Accion CEO, noted that the Egyptian market is a priority within Accion’s plans, particularly in financial inclusion and fintech, given the strong growth and expansion opportunities available.
He noted the growing interest in embedded finance models, which integrate financial services into companies’ operational activities, helping facilitate cross-border trade and enhance SMEs’ access to international markets.
On her part, Monica Brand, Co-founder of Quona Capital, emphasized that Quona Capital’s focus on investing in Egypt reflects its confidence in the market’s dynamism, noting Quona’s commitment to supporting companies offering innovative solutions to financing and trade challenges while connecting regional markets.
The meeting also highlighted Khazna as a successful example of joint investment in Egypt, demonstrating the ability of Egyptian startups to scale and deliver innovative financial inclusion solutions that attract international capital.
MIFT Minister concluded by stressing MIFT’s commitment to strengthening partnerships with major international institutions to position Egypt as a regional hub for TradeTech, contributing directly to increased exports and the attraction of high-quality investments that support the digital economy.
