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During the panel session titled "From Local Capital to Fintech Growth: Mobilizing Key Investors to Support Financial Innovation" at the PAFAX exhibition—held alongside the Cairo ICT 2026 conference and exhibition—speakers highlighted the role of seasoned local capital and national institutions in funding startups, enhancing their sustainability, and empowering them to deliver innovative financial solutions.

National Bank of Egypt: Investing via Specialized Entities Overcomes Governance Hurdles

Ahmed El-Sayed, Chief Investment Officer at the National Bank of Egypt (NBE), stated that major state-owned banking institutions go beyond traditional banking activities to advance national development goals and technological support. He pointed out that NBE faced challenges regarding direct investment or equity partnerships in early-stage startups due to strict regulatory and governance requirements. Consequently, the bank adopted a strategy of investing through specialized investment vehicles in collaboration with other national banks, such as Banque Misr, marking a new milestone in NBE’s history.

eFinance: Infrastructure Partnerships and Open APIs Support Local Capital Resilience

Ahmed Sobhy, Vice CEO of eFinance Investment Group, explained that unifying the efforts of banks of all sizes with financial infrastructure companies (such as eFinance and EBC) aims to build an integrated ecosystem powered by Open APIs. He emphasized that local investors possess a deep understanding of foreign exchange and interest rate fluctuations, allowing them to demonstrate greater patience and flexibility compared to foreign investments, which may exit rapidly during economic shifts.

Camel Ventures: A National Investment Ecosystem Acts as a Safety Net for Entrepreneurs

Mona El-Sayed, Chairperson and CEO of Camel Ventures, stated that the decision to establish a specialized local fintech investment fund stemmed from the need to serve the Egyptian market and provide flexible, sustainable funding. She added that local and regional investors have a stronger connection to the market and a higher capacity to absorb economic shocks, supporting entrepreneurs with expertise and market access without imposing rigid terms often seen in international funding rounds.

Etisalat: Access to Large User Bases Cuts Customer Acquisition Costs for Fintechs

Osama Abbas, Vice President of Fintech at Etisalat, highlighted the telecom sector’s role in supporting startups’ financial sustainability (P&L) by lowering Customer Acquisition Costs (CAC). He cited the successful partnership with a medical discount card provider that leveraged e&’s multi-million user base to scale from a limited user pool to nearly two million users in just a few years.