BII reaffirms climate partnership with Egypt, reveals ambition to invest $100m in Egyptian startups
UK development finance institution (DFI) British International Investment (BII) has announced plans to invest $100-million in Egyptian startups over its current strategy period.
The DFI, which was formerly known as CDC Group, also reaffirmed its commitment to strengthen its partnership with Egypt and increase climate finance to support the country’s green growth.
"Egypt is one of BII’s priority markets, given the growth potential this country has to offer. BII’s investment deals, whether in financial services, health or clean energy, illustrate the strength of the UK–Egypt trade and green partnership. I wish the UK’s DFI every success, as it supports Egypt’s green transformation ahead of COP27 in November," says British Ambassador to Egypt Gareth Bayley.
As part of BII’s ambition to bolster Egyptian venture capital (VC), the DFI announced new commitments to two local VC firms Algebra Ventures and Endure Capital.
Algebra and Endure support and partner with early-stage businesses to build transformative companies across sectors such as fintech, agritech, edtech, logistics and healthcare.
The capital will support Algebra’s second fund following the success of Fund I, which included market-leading companies such as Khazna, Mozare3 and Shift EV.
BII also anchors Endure’s most recent fund Endure21, which has backed high-impact companies such as Brimore, Pylon and Cassbana.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation















