98% of women entrepreneurs in Egypt optimistic about revenue growth

The research is part of Mastercard's broader initiative across Eastern Europe, the Middle East, and Africa (EEMEA). 

“Our research highlights the remarkable entrepreneurial spirit among women across the EEMEA region. While progress has been made, challenges remain, reinforcing the need for stronger support," said Selin Bahadirli, executive vice president for Mastercard in the EEMEA region.

"At Mastercard, we are dedicated to nurturing the next generation of small business leaders and equipping them with the tools they need to grow and thrive,” she added.

Entrepreneurial landscape in Egypt
 

The report indicates that 38 percent of women in Egypt identify as entrepreneurs, and 77 percent are considering starting or running their own businesses.

This figure rises to 83 percent among Gen Z women, although more than half (56 percent) have yet to take the plunge.

Additionally, many Egyptian women are engaged in side hustles, with 50 percent reporting efforts to generate income outside their main jobs.

Key motivations for pursuing entrepreneurship include earning more money (60 percent), saving for specific goals (52 percent), and achieving financial independence (45 percent).

Women founders primarily cite the desire to pursue their dreams (48 percent) and the need to see a brilliant idea come to life (39 percent) as reasons for starting their businesses.

The sectors that interest women entrepreneurs the most include education (24 percent), cosmetics (20 percent), and marketing/advertising (17 percent).

Encouragingly, 98 percent of women business owners in Egypt are optimistic about revenue growth over the next five years, surpassing the EEMEA average of 89 percent.

Challenges ahead
 

Despite the enthusiasm for entrepreneurship, the report highlights significant challenges women face.

The top concerns include the risk of failure (30 percent) and the difficulty of securing startup capital (25 percent).

Furthermore, women are more likely than men to perceive a lack of confidence as a barrier (eight percent versus six percent).

Meanwhile, business owners' challenges include assessing essential digital infrastructure (37 percent) and securing funding (35 percent). A notable 26 percent express uncertainty about building a sustainable business.

Therefore, training in business planning (38 percent), access to artificial intelligence (AI) tools (34 percent), and having a business partner (33 percent) could boost women’s confidence in starting their ventures.

The report shows that Egyptian women are more open to advanced technologies than their male counterparts, with 73 percent of all founders regularly using AI in their businesses.

The research findings underscore that while Egyptian women possess the ambition to drive economic progress, they require support and resources to overcome existing hurdles.