Green Growth Summit Set to Accelerate the Green Transition in Egypt and Beyond

Cairo 12 May 2024:

As part of its efforts to promote a just green transition in the MENA region, the international cooperation organization Hivos will organize the Green Growth Summit in Cairo on May 14th. The exclusive, invitation-only summit in Cairo, which follows a successful Green Growth Summit in Tunisia held on April 30, will bring together business support organizations, private sector representatives, investors, donors, financial institution representatives, policymakers, and more to advance efforts to support a just green transition in Egypt and in the region.

The summit will focus on five tracks: Green Exports, De-risking Green Investment, Green Jobs, Cluster Champions, and (Green) Impact Investing.

In Cairo, the Green Growth Summit will explore innovative strategies, best practices, and partnerships for sustainable development through four panels which serve as a platform for sharing knowledge and inspiring collaborative action:

• The Green Economy Unlocked: The Business Case for Green – This panel delves into the dynamic landscape of new business opportunities, cutting-edge trends in green, and exciting job prospects for young people. Discussions will include how entrepreneurship is driving innovation in green sectors like renewable energy, sustainable agriculture, waste management, and more, igniting excitement for a greener, more prosperous future
• Greening the Workforce: Supporting the Next Generation of Green Companies and Green Jobs, sponsored by Pathfinder International/USAID WESEP – This panel will explore the rising trend of green jobs and their far-reaching benefits for companies and communities. Groundbreaking supporters of green job creation and green company cultivation will present strategies for catalyzing the green economy’s proven capacity to create sustainable employment, especially for women and young people, across Egypt and the region.
• From Risk to Resilience: Financing Egypt`s Just Green Transition – This panel focuses on innovative strategies such as blended finance and the transformative potential of partnerships between donors, financial institutions, and investors to unlock green sector investments and mitigate investment risks. This panel will also feature emerging insights into rapidly evolving green financing tools tailored to the region’s unique needs and opportunities.
• Investing in Green: Egypt’s New Competitive Advantage – This panel will feature new and emerging avenues for green investment, from local initiatives to potential exports opportunities. This panel will also explore impact investing’s twin potential for unlocking the Egyptian (and regional) economy while simultaneously driving sustainable development.

The  Green Growth Summit in Cairo will also provide opportunities for the key actors driving Egypt’s green transition to collaborate together to produce strategies, commitments, and other tangible outcomes during the event itself. To this end, the afternoon is dedicated to several work sessions, covering topics ranging from collaborations between startups and corporations in the green sector, advancing green company acceleration in Upper Egypt, developing green certification standards for small and medium-sized businesses (SMEs), and enabling financial models for sustainable and green supply chains, among other topics.

In parallel, several investor-only deal rooms will present  4  leading Egyptian companies —Hydrofarms, KarmSolar, Sandbase, and Mozare3—providing tangible, actionable investment opportunities to banks, venture capital investors, private equity investors, and development finance institutions (DFIs) and building investor partnerships to fund and support these promising ventures.

“By bringing together key stakeholders in the region, the Green Growth Summit aims to foster collaboration and generate tangible results on pressing issues such as climate change and unemployment. As these issues  disproportionately impact the MENA region, we cannot afford to ignore the enormous untapped potential of green businesses”, states Noha El Sebaie, Programme Manager for MENA green employability and entrepreneurship programs at Hivos.

“Our goal surpasses job creation and enterprise support in the green sector; it extends to creating a green ecosystem by continually sharing the learnings and findings we have collected throughout our programs and experience in the region.”

El Sebaie adds that Hivos is committed to supporting MENA region countries to engage in a just, green transition, including supporting strategies to derisk investments in green businesses in order to facilitate their growth and positive impacts on the region.

“This Summit is a first step towards forging a brighter, greener future for Egypt and the region. By uniting key stakeholders, sharing insights, and fostering collaboration, we are laying the foundation for sustainable growth and impactful change. Together, we embark on a journey towards a more resilient, equitable, and prosperous tomorrow.”

The Green Growth Summit in Egypt is organized by Hivos and generously supported by core sponsors FMO: Dutch Bank for Entrepreneurial Development and Pathfinder International/USAID WESEP. The summit is also supported by the Ministry of Foreign Affairs of the Netherlands, the Challenge Fund for Youth Employment, Impact Europe, and the European Union, with the green impact investment track sponsored by USAID’s Business Egypt Program. The summit is implemented by New Silk Roads and Changelabs.