• GAFI launches “Coffee and Capital” to promote direct communication with investors and the private sector.
• Unified electronic licensing platform streamlines procedures, reducing paperwork and simplifying investor interactions.
• Key changes in investment processes, including fewer required procedures and canceled unnecessary approvals, to save time.

Coffee and Capital

What happened? The General Authority for Investment and Free Zones (GAFI) launched a new initiative under the name “Coffee and Capital.”  The initiative aims to foster continuous and direct communication with investors and the private sector. 

Additionally, it aims to organize a series of regular meetings bringing together decision-makers, government officials, business leaders, and investors from various sectors. 

The initiative is in collaboration with the Egyptian Private Equity and Venture Capital Association, Eventful Plus for conference organization, and N Gage Consulting.

The first session Mr. Hossam Heiba, President of the GAFI participated in the first discussion session of ‘Coffee and Capital’. The session was also attended by representatives from 70 companies, private equity funds, banks, and major Egyptian and international companies.

Unified Electronic Platform

Dialogue with Investors Mr Heiba also clarified that Egypt places great important dialogue with investors in order to facilitate investment. One of which is the elimination of most of the documents required to establish or operate companies. Another is the digitization of investment services.

The Unified Electronic Platform This month, GAFI’s President announced the launch of the first version of the unified electronic licensing platform. The platform will connect the relevant authorities responsible for issuing approvals for investor license requests. It will also unify the point of contact for investors, and simplify and ease the procedures for obtaining all licenses. This is in implementation of the decisions of Prime Minister Dr. Mostafa Madbouly.

How will this work? Mr. Hossam Heiba explained that the Authority is cataloging all the approvals and licenses issued by different entities across all economic sectors.  It is also digitally supporting a number of investment entities involved to integrate into the unified system. 

Why does this matter? This represents a milestone in Egypt’s investment ecosystem. For instance, Mr Heiba clarified that for example, starting a project in the textile industry used to require 22 procedures. This has been reduced to 8 procedures, as different entities were requesting the same document from investors. 

Additionally, the government identified some approvals that were unnecessary to start a business and cancel them. In doing so, this saves investors’ time and effort.