Egypt Launches Startup Charter; Remittances Surge 28% to $29.4 Billion in Eight Months

Egypt's Deputy Prime Minister Hussein Issa formally activated the Startup Charter program, designed to streamline regulatory frameworks for early-stage companies and attract venture capital investment. Investment Minister Mohamed Farid separately stated that Egypt's monetary policy — following the pound's stabilization and IMF-backed reforms — is now a key competitive advantage for attracting foreign investors. The launch comes as Egypt posted strong remittance data: Egyptians abroad sent $29.4 billion in the first eight months of fiscal year 2025/26 (July 2025–February 2026), a 28% surge year-on-year and a major buffer for the external account. Annualized, the pace suggests FY2025/26 remittances could approach or exceed $44 billion, up sharply from $22 billion in FY2023/24 — reflecting improved confidence in the Egyptian banking system following the pound's liberalization.