District Egypt organised the Xpand Financial Summit for the first time in Egypt on 25-27 February, drawing the attention of many small- and medium-sized enterprises (SMEs). District Egypt is a co-working space for youth entrepreneurs and freelancers. The Xpand Summit brought together more than 200 businesses and financial-solution providers for the two-day event, according to Mazen Helmy, 27, the founder and CEO of District Egypt. The event was held at the Cairo Convention Centre and included a line-up of top speakers and match-making modules. The summit was held in advance of the national economic summit, to be held in Sharm El-Sheikh from 13 to 15 March, in order to capitalise on the momentum created by the national summit. “The main goal behind Xpand was to shed light on SMEs in Egypt, a sector that makes up more than 90 per cent of the Egyptian economy,” said Helmy. “We wanted to use the upcoming national economic summit as a way to activate and create real opportunities for businesses, investors and financial institutions to meet, interact and grow their businesses in a dynamic set-up.” Helmy has been invited by Prime Minister Ibrahim Mehleb to speak at the Sharm El-Sheikh Summit, and he expressed his excitement at the prospect. Said Helmy, “I am honoured to be speaking at the Sharm El-Sheikh Summit as a representative of the young business scene in Egypt, connecting Xpand's goal of scaling up SMEs with the larger economic environment.” Xpand is a platform to fast-track businesses in a dynamic environment, where interactions, knowledge and best practices are key, attracting banks, investors, private equity, leasing and factoring companies, together with SME owners and executives. It was designed to take entrepreneurs on a journey through the Egyptian market. Using a focussed approach, Xpand aims to deepen understanding, facilitate case-study discussions and bring businesses and the financial sector together. The writer is a freelance journalist.
