COP 27: Egypt Attracting More Investors Ahead Of Climate Summit


As climate change descends on Egyptian farmers, a growing number of local tech startups are launching smartphone-based services to help them manage unpredictable weather and squeeze more profit from their diminishing crops.

 Egypt hosts the second-biggest startup market on the African continent after Nigeria, drawing $446 million in venture capital in 2021, according to the industry journal Disrupt Africa.

Quartz Africa publication revealed that, even though agriculture-related apps accounted for less than 2% of the $446 funding, the looming threats of climate change, food insecurity and the hype surrounding the COP27 climate summit, are causing more investors to take a closer look, according to Duaa Nassef, manager of a startup incubator at Nile University.

 “Agri-tech is becoming a very promising sector to invest in,” she said. “There are so many of the problems farmers here face that you can easily tackle with tech.”

 The  Egyptian city of Sharm El Sheikh will host the world for the 27th Conference Of Parties (COP27)  from November 6 to November 18, 2022.


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