Orange Egypt, a subsidiary of the global telecommunications giant Orange Group, has announced a groundbreaking initiative to invest €50 million ($52 million) in African startups, focusing on driving entrepreneurship and innovation across the continent in the coming year. This fund, which will prioritize digital transformation and youth-led ventures, is part of a broader strategy by Orange to cement its role as a leader in Africa’s growing tech ecosystem.
Eng. Yasser Shaker, CEO and Managing Director of Orange Egypt, revealed the ambitious plan during a press briefing. He highlighted that the initiative will target approximately 40 startups, with Egyptian enterprises poised to receive the lion’s share. “Egypt is one of the three strongest countries in Africa in the field of entrepreneurship. We aim to strengthen its position as a central hub for launching into other parts of the continent,” Shaker stated.
The investment underscores Orange Egypt’s commitment to leveraging its local expertise and regional presence to create a ripple effect across Africa. By identifying and nurturing high-potential startups, the company aims to bolster innovation in sectors ranging from financial technology (fintech) to digital services.
Orange Egypt’s contribution to entrepreneurship goes beyond financial investments. The company operates Orange Labs, a cutting-edge research and development hub with 100 engineers specializing in software and programming, and Orange Business, which employs over 3,000 engineers. These initiatives align with the broader Orange Group strategy of fostering collaboration between its corporate ecosystem and emerging startups.
In addition, the company plans to showcase its initiatives at the upcoming Cairo ICT exhibition, running from November 17 to 20. The event will highlight Orange Egypt’s technological capabilities and ongoing efforts to drive digital literacy through programs like the Orange Digital Development Center. The center trains over 1,000 individuals annually in digital skills and recently expanded its reach by establishing a new branch in Aswan Governorate.
A Legacy of Venture Capital through Orange Ventures
Orange Egypt’s new initiative builds on the foundations of Orange Ventures, the €350 million corporate venture fund launched in 2021. Orange Ventures, under the leadership of Jérôme Berger, aims to invest in promising startups globally, with a strong focus on Europe and Africa.
As Berger outlined, the fund combines Orange’s commercial expertise with the agility of traditional venture capital to back high-potential businesses. “Our goal is to balance the best of both worlds: Orange’s extensive market knowledge with the flexibility and precision of venture capital decision-making,” he remarked.
Of the total €350 million Orange Ventures fund, €50 million has been earmarked specifically for Africa. The rationale is clear: the continent’s startup ecosystem is burgeoning, with innovative solutions emerging in areas like mobile payments, agritech, and digital health.
“In Africa, innovation is less segmented and more widespread,” Berger explained. “We invest in the broader digitalization of the economy, focusing on diverse sectors ranging from fintech to renewable energy.”
Orange Ventures has already invested in 10 African startups and aims to support 100 by 2025. Its multi-country investment strategy emphasizes local ecosystems, with hubs in Cairo and Paris driving regional collaboration.
With Egypt at the heart of its African strategy, Orange Egypt is positioning itself as a key player in the continent’s digital transformation. By channeling resources into entrepreneurial ventures and fostering collaboration between startups and Orange’s business units, the company seeks to create a mutually beneficial ecosystem.
The €50 million fund is not just a financial commitment but also a testament to Orange Egypt’s confidence in Africa’s untapped potential. As regional governments and private sector players rally to support startups, initiatives like this could define the next wave of growth in Africa’s digital economy.