National Bank of Egypt Celebrates 3 Winning Youth Startups in 'Shabab Shamel' Program

Efforts to support entrepreneurship are no longer just about providing funding. Banking institutions are now building a complete system that starts with spreading financial literacy and developing skills. This is exactly the approach the National Bank of Egypt has taken with its 'Shabab Shamel' initiative, which aims to prepare young people and connect their ideas with real opportunities for execution and growth. In this spirit, the National Bank of Egypt, working with the Ministry of Youth and Sports and under the sponsorship of the Central Bank of Egypt, announced the selection of the best projects submitted as part of the 'Shabab Shamel' initiative. This program is all about boosting financial awareness among young people, growing their skills in entrepreneurship, and introducing them to banking solutions and services that can help their projects thrive. The initiative is part of a bigger push to strengthen the banking sector's role in supporting small and emerging businesses. It does this by offering services that go beyond just direct funding, including training, qualification, and consultations. This helps new projects become more sustainable and boosts their ability to grow in the market. The initiative's activities, which took place at several clubs in Cairo Governorate, featured a judging panel. This panel included Mustafa Mounir, General Manager of SMEs at the Central Bank of Egypt; Saad Nadim, Head of the Financial Inclusion Unit at the Ministry of Youth and Sports; and Chantal Sabbagh, Head of Business Development and Non-Financial Services for SMEs at the National Bank of Egypt. Also on the panel were Mohamed Fathy Helal, General Manager of Investments, and Tamer Mostafa, Deputy General Manager of Business Technology and Performance Testing at the National Bank of Egypt. 'Shabab Shamel' activities also included setting up a special booth at several clubs in Cairo Governorate for six days last April. The initiative offered financial literacy sessions for various groups, with a special focus on young people. It also provided hands-on workshops about starting and managing projects, along with specialized seminars on innovation and entrepreneurship. What's more, the initiative gave participants a chance to learn about the banking products and services offered by the National Bank of Egypt, as well as its programs that support small and medium-sized enterprises. These include both financial solutions and non-financial services, with the 'Nile Pioneers' initiative being a key example, aimed at supporting individuals with great ideas and emerging projects. The initiative saw a fantastic turnout from young people, with over 50 ideas and projects submitted by participants. All submissions went through a careful evaluation process based on specific criteria to measure innovation, feasibility, and growth potential, before the top 12 projects were chosen, leading to the final three winners. The winning projects received a total financial support of 450,000 EGP. The first-place winner received 250,000 EGP, second place got 150,000 EGP, and third place received 50,000 EGP. This really shows how the initiative aims to turn entrepreneurial ideas into practical projects that benefit from both financial and non-financial support. The 'Shabab Shamel' initiative truly highlights how important it is for the banking sector and government institutions to work together to create a supportive environment for entrepreneurship. It's all about preparing a new generation of young people with the financial know-how and skills needed to launch their own projects, which in turn boosts the contribution of small projects to the economy and supports our sustainable development goals.