Last Updated on November 30, 2023 by Safiya K
Three Egyptian women entrepreneurs have been awarded $10,000 grants from Visa and CIB Egypt’s She’s Next program to help grow their businesses. The winners – Hadeer Shalaby of Green Fashion, Salma Tammam of Reme-D, and Nihal Ali of Fincart – were selected from over 4,000 applicants across Egypt.
The She’s Next grant program aims to support women-owned small businesses in Egypt with funding, coaching, and resources to help them succeed. This year’s winners stood out for their entrepreneurial drive, robust business metrics, digital presence, and problem-solving ability.
In addition to the grants, the winners will receive a year of business coaching from USAID along with educational resources and training from Visa and CIB. There was also a People’s Favorite award voted online by the public, which went to Fincart founder Nihal Ali.
Visa launched the She’s Next program in Egypt to help women entrepreneurs transition to digital, cashless businesses. Research shows that 68% of women entrepreneurs in Egypt want to move away from cash. However, 35% find it difficult to secure funding.
The program addresses barriers like access to capital and technology that hold women entrepreneurs back from reaching their full potential. By participating in She’s Next, these business owners gain valuable insights and support to boost their strategies.
“We are honoured to empower these inspiring Egyptian women entrepreneurs,” said Leila Serhan, Visa’s SVP and Group Country Manager for North Africa. “This initiative fosters an environment where they can thrive through funding, mentoring, and technology.”
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