World Bank Supports Job Creation for Youths and Women in Egypt through $200 Million Investment

By Rinchi

The World Bank supports youth and women entrepreneurship in Egypt through a $200 million investment. This investment will go to youth and women-led startups and increase their financial access.

The project is called Catalyzing Entrepreneurship for Job Creation and will channel US$245 million through non-bank financial institutions which will offer loans to small businesses led by youths and women in the country.

Besides youth and women businesses, it also targets first-time borrowers and small businesses in the underserved regions across the country. The project also uncovers coaching opportunities to help them build the necessary skills and capacity to strive for success.

Dr. Sahar Nasr, Egypt’s Minister of Investment and International Cooperation: “Our partnership with the World Bank Group aims to empower Egyptian women and youth to become successful entrepreneurs. This is an investment that offers many opportunities to improve the livelihoods of Egyptians through job creation and contributing a solid foundation for the country’s economy.”

The World Bank’s project investment in Egypt aims at increasing the supply of seed, early-stage, and venture capital for startups and SMEs with high potential for growth and job creation.

The project succeeds the ongoing “Promoting Innovation for Inclusive Financial Access” which support SMEs by providing access to finance and promoting job creation in the country’s private sector. Today, the project has created approximately 300,000 jobs and around 70,000 women and 56,000 youths are benefited from it.

Source Tech In Africa

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Egypt: Wounded Ahly seeking some solace in Egyptian league

Ahly, licking their wounds following a humiliating 5-0 African Champions League defeat, are seeking some solace in the Egyptian Premier League as they meet Maqassa on Wednesday.

The Red Devils suffered their worst ever defeat in an African competition after being embarrassed in Pretoria as South Africa’s Mamelodi Sundowns put one foot in the Champions League semis.

Barring a miraculous comeback in Saturday’s second leg, Ahly, who lost in the final of the previous two Champions League editions, will exit the prestigious competition that they last won in 2013.

That will leave them with only two domestic titles to fight for, including the league where they are locked in a tight battle with bitter Cairo rivals Zamalek.

With only two points separating them from leaders Zamalek, Ahly are aware they can ill-afford to drop any points at this crucial stage of the season.

They will move top, at least temporarily, should they beat Maqassa on Wednesday. Zamalek meet Masry one day later.

“I’m responsible for the result against Sundowns and I’m determined to change that situation as soon as possible,” Ahly coach Martin Lasarte said on the club’s official website.

“All of us, including me and the players, will do our best to make up for this cruel defeat,” the Uruguayan added.

Maqassa, who lie fifth in the table with 42 points from 26 matches, drew three of their past five games, winning twice.

Lasarte opted to leave Marwan Mohsen and playmaker Nasser Maher out of Ahly’s squad for the game. Key left-back Ali Maaloul and Angolan winger Geraldo are also out due to automatic suspension.

Ahly comfortably won the reverse league fixture 3-0 in January.

Source Abram Online

Nigeria: Junior Ajayi signs Al Ahly extension


By Tolu Olasoji


The former CS Sfaxien marksman has penned a new deal that runs through till 2022

Junior Ajayi has signed a new three-year contract with Al Ahly.

In the summer of 2016, the Nigeria striker joined the Egyptian giants for a reported fee of $2million from Tunisian side CS Sfaxien.

Ajayi helped the Red Devils to two consecutive Egyptian Premier League titles in the 2016-17 and 2017-18 campaigns.

This season, the former Nigeria youth international missed the first five months of the season due to a knee ligament injury against Township Rollers on July 28 and returned in a Caf Champions League game against JS Saoura.

He has since played eight games across all competitions, finding the back of the net thrice.

Al Ahly, placed third in the Egyptian top-flight log, play El Daklyeh in a league game on Wednesday and Ajayi will be expected to play a crucial role.


Source Goal