Suez Canal Bank Sponsors Shark Tank – Egypt Season 4 to support innovation and entrepreneurship
Suez Canal Bank announced its sponsorship of Season 4 of Shark Tank- Egypt, one of the leading programs dedicated to supporting entrepreneurship and innovation. This sponsorship comes as part of the bank’s keenness to strengthening Egypt’s entrepreneurship ecosystem, supporting startups and SMEs, empowering them financially to become a key driver of sustainable economic growth and fostering a dynamic business environment capable of competing regionally and globally.
The partnership between Suez Canal Bank and Shark Tank - Egypt reflects the bank’s ongoing efforts to promote a culture of innovation and provide both financial and non-financial banking solutions tailored to meet the diverse needs of entrepreneurs, opening new opportunities for startups to access financing and transform their ideas into successful ventures.
Suez Canal Bank places SMEs and entrepreneurship at the core of its strategy, recognizing their vital role as key engines driving sustainable development. The bank actively participates in the CBE’s initiatives such as the 5% initiative for financing small enterprises.
The bank also operates Business Development Services Hubs (BDS) that aim to improve the working environment for SMEs, help young innovators turn creative ideas into viable projects, and support aspiring entrepreneurs in choosing suitable ventures that match their capabilities, while enhancing their financial and banking literacy.
In this context, Mr. Akef El Maghraby, CEO and Managing Director of Suez Canal Bank, stated that the partnership with Shark Tank Egypt comes as an extension of the bank’s ongoing efforts to support and empower SMEs and startups, helping them expand their operations, in line with the directives of the Central Bank of Egypt and Egypt’s Vision 2030 to accelerate economic growth.
Mr. El Maghraby added that this collaboration represents a shared commitment to empowering the entrepreneurial community, giving innovative minds the opportunity to grow and expand through access to financial and non-financial support and services.
From his side, Mr. Ahmed Luxor, Founder and CEO of Innovative Media Productions, the producing company of Shark Tank Egypt, emphasized the significance of the partnership with Suez Canal Bank, describing it as a true example of the positive role the banking sector plays in building a more dynamic, knowledge-based, and opportunity-driven economy.
He further noted that Shark Tank Egypt serves as a bridge between entrepreneurial ideas and real investment opportunities, enabling startups to showcase their projects to a distinguished group of investors, creating real chances to turn ideas into successful businesses.
About Suez Canal Bank:
Suez Canal Bank is an Egyptian joint stock company established in 1978, as a commercial bank providing customers with the financial products and services, with a paid-up and issued capital of EGP 6.5 billion, 650 million shares, and an authorized capital of EGP 10 billion.
The Bank provides a diverse package of banking solutions, financial products, and services to its institutional and individual customers, through 54 branches and representative offices in Tripoli, Libya, including a branch dedicated to Islamic transactions, in addition to a network of ATMs spread across all Egypt, and a network of correspondent banks worldwide.
About Shark Tank Egypt:
Shark Tank Egypt is the local version of the globally renowned Shark Tank show, one of the most successful entrepreneurship programs in the world, broadcast in more than 50 countries. The program allows entrepreneurs and startup founders to present their business ideas to leading Egyptian investors to secure real investments that help them grow and scale. Shark Tank Egypt promotes innovation and supports the national entrepreneurship ecosystem in line with Egypt’s Vision 2030, which aims to empower youth and build a knowledge-driven economy. The show airs on CBC and Watch It and is produced by Innovative Media Productions (IMP) in partnership with Sony Pictures Television