Egypt’s $14B Export Potential Fuels Agritech Growth Push

BREAKING NEWSNovember 5, 2024 at 12:38 PM UTC

TLDR

Entlaq report forecasts $14 billion in Egyptian agricultural exports by 2030, emphasizing tech-driven growth to address water scarcity and labor challenges.
Anticipated creation of 50,000 new agritech jobs by 2030 as Egypt aims to boost wheat self-sufficiency from 47% to 70%.
Egypt's emphasis on digital transformation and sustainability attracts venture capital, solidifying its position as a key player in agritech innovation.

Egypt’s agritech sector is gaining momentum as Entlaq’s inaugural report reveals a path toward $14 billion in agricultural exports by 2030.

The report details a strategic vision to leverage technology for growth, tackling critical challenges like water scarcity and informal labor while driving agricultural productivity and food security.

Entlaq’s report also projects over 50,000 new agritech jobs by 2030 as Egypt seeks to increase wheat self-sufficiency to 70% from 47% in 2021. This focus on digital transformation and sustainability is expected to attract further venture capital, enhancing Egypt’s standing as a regional leader in agritech innovation.

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Key Takeaways

Agriculture remains a cornerstone of Egypt’s economy, contributing 11.6% to GDP and employing nearly a fifth of the workforce. With government investment in the sector set to exceed EGP 116.6 billion this fiscal year, Egypt is targeting a 20% increase in agricultural output, driven by innovative solutions like precision irrigation, IoT, and AI-powered platforms. Startups such as Mahaseel Masr are leading efforts, with tools like the Qamhawey app enabling farmers to monitor crops and directly access markets.

Egypt

Economy

Agriculture

Startups

Agritech

Entlaq

Technology

Venture Capital