HSBC announces 1 billion EGP in loans for tech entrepreneurs

HSBC announces 1 billion EGP in loans for tech entrepreneurs

HSBC Egypt announced a 1 billion EGP Technology Entrepreneurs Lending programme for high growth tech entrepreneurs looking for a global banking partner to scale up and connect with international opportunities.

The program is open to technology companies looking to scale up within Egypt’s growing digital economy. The business sectors being targeted include FinTech, e-commerce, retail and mobility, health, education and software. In light of COP27, the bank stated that companies with sustainable development embedded in their business plans would be prioritised.

“HSBC is committed to supporting the growth of internationally-minded businesses in Egypt. This is the third SME-focused growth initiative we have launched in recent months, following our Female Entrepreneur Lending Fund and Foras Trade Fund, and demonstrates our commitment to supporting entrepreneurs on their global growth journeys,” Ali Taqi, Head of Commercial Banking at HSBC Egypt, said.

The HSBC Technology Entrepreneurs Lending programme will focus primarily on companies with differentiated B2B business models, revenue traction and funding from credible investors. The startups enrolled will be supported with relationship managers, mentors and tech banking experts.

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