Orange Egypt Invests US$53 Million To Boost African Startups
The initiative will back approximately 40 African companies, with Egypt receiving the largest share of the funding.
Orange Egypt has earmarked EUR50 million (US$52.71 million) to support youth-driven innovation startups in Africa. The initiative aims to support approximately 40 companies, with those in Egypt receiving the largest share of the funding.
The announcement was made at the 28th edition of the International Telecom, Information Technology and Media Trade Fair and Forum (Cairo ICT) being held in Egypt from November 17 to 20.
An article on Waya noted that the CEO and managing director of Orange Egypt Yasser Shaker announced plans to expand the firm’s support for young professionals through the Orange Center for Digital Development in Cairo, which trains around 1,000 individuals annually in digital skills.
A new center has recently opened in Aswan Governorate, broadening access to training opportunities in southern Egypt.
Beyond telecommunications, Orange Egypt operates the Orange Business sector, which employs over 3,000 engineers, and Orange Labs, a programming hub with about 100 engineers working outside of Egypt.
