SANAD CO-HOST YE! AWARDS IN EGYPT
Nine of Egypt’s most promising young entrepreneurs were showcased at the Ye! Awards Egypt. More than 120 guests from across the country attended the event, organized by the SANAD Fund for MSME’s Technical Assistance Facility (TAF) and Child & Youth Finance International (CYFI) in collaboration NilePreneurs, the Central Bank of Egypt, and Nile University.
The Ye! Awards Egypt served to raise awareness of the unique needs of young entrepreneurs in Egypt and recognize the most outstanding new businesses in the country. Awards were presented for three categories:
- Ye! Superstar – For a registered enterprise with annual turnover of more than 50,000 USD. The winner of the Ye! Superstar Award was Amira El Gharib of Orcas. Orcas offers a safe and secure mobile application that connects parents to verified tutors and babysitters and in turn connects Egyptian youth to valuable employment opportunities.
- Ye! Rising Star – For a registered enterprise with annual turnover of less than USD 50,000. The winner of the Ye! Rising Star Award was Abdallah Hanbak of Freeziana. Freeziana is an e-commerce platform connecting rural artisans who specialize in providing handmade products to consumers around the globe.
- Ye! Stars to Watch – For a pre-revenue or unregistered enterprise with a strong business plan. The winner of the Ye! Stars to Watch Award was Tarek Mandour of Mazboot App. Mazboot is an easy-to-use mobile health application that allows diabetic patients and doctors to connect, share data, and monitor exercise and medications to stay on top of the disease.
In addition to the awards, two entrepreneurs received special recognition: Rania Ayman of Entreprenelle was named top female entrepreneur, and Ahmed El Rawy of ASKOVA Wind Energy was recognized for his entrepreneurship in green energy.
Ines Ebrecht, Chair of the SANAD TAF Committee, explained: “Access to finance is not an isolated constraint to the growth of small enterprises and the economy. We are therefore happy to have partnered with CYFI and the NilePreneurs program on making an important contribution to entrepreneurs’ ability to grow their business and network with one another through the Ye! Platform.”
Established in 2011, the SANAD Fund for MSMEs finances micro, small and medium enterprises and low-income households in the Middle East and North Africa via qualified local lenders. SANAD thereby fosters economic development and job creation – including youth employment – agriculture, affordable housing, and innovations in finance and financial technologies. SANAD’s investors include the KfW Development Bank and the European Union.