The Commercial International Bank – Egypt (CIB) has entered into a strategic sponsorship and cooperation agreement with the Chamber of Food Industries (CFI), under the Federation of Egyptian Industries. This partnership designates CIB as the chamber’s official banking partner for 2025, marking a significant collaboration to support the growth and competitiveness of Egypt’s food sector.
The announcement was made at the 3rd Annual Food Industries Conference, “Egypt’s Food,” held under the patronage of Kamel Al-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport.
A Strategic Collaboration to Boost Exports
This partnership is a key part of CIB’s broader commitment to supporting Egypt’s vital industries and fostering growth in key sectors of the economy. Specifically, the collaboration aims to facilitate export growth within the food and agriculture sectors, which are central to Egypt’s national plan to boost export revenues to $100 billion. The food sector alone accounted for $8.8 billion in exports in 2023, with projections of $10 billion by the end of 2024.
Through this partnership, CIB will provide CFI’s 24,000 member companies with critical financial solutions, including working capital financing, trade finance, and a suite of capacity-building programs designed to enhance export readiness, food safety compliance, and access to financing. The partnership’s primary goal is to strengthen the food industry’s ability to expand into international markets while promoting sustainable industry growth.
Empowering the Food Sector
Ashraf El-Gazairly, Chairperson of CFI, welcomed the partnership, emphasizing its crucial role in advancing sector sustainability and competitiveness. “This collaboration is key to ensuring that we meet international quality standards, enhance food safety systems, and empower SMEs, particularly women in agriculture and manufacturing. Our efforts have already led to annual export growth of 10-15%, and we are targeting $10 billion in exports by the end of 2024,” El-Gazairly said.
Amr El-Ganainy, Executive Vice President and Board Member of CIB, reaffirmed the bank’s dedication to supporting Egypt’s food industry. “By providing tailored financial and non-financial solutions, we empower SMEs to grow and access new export markets, which ultimately positions Egyptian products competitively on the global stage,” El-Ganainy stated.
Innovative Digital Tools for Seamless Trade
As part of its commitment to business growth, CIB will actively engage with food industry companies through workshops, meetings, and consultations to address their specific needs and explore opportunities for collaboration. Rashwan Hammadi, CEO of Retail Banking and Financial Inclusion at CIB, highlighted the importance of CIB’s Business Solutions program, which offers development resources in non-financial areas, fostering sustainable business growth.
Hani El-Deeb, Head of SME Banking at CIB, elaborated on the bank’s digital tools, including the GTB Trade Portal and CIB Business Online. These platforms simplify trade processes, facilitate online document management, and provide 24/7 access to banking services, thereby enhancing operational efficiency and making banking more accessible to businesses.
A Bright Future for Egypt’s Food Industry
The partnership between CIB and CFI represents a pivotal moment for Egypt’s food industry, offering innovative financial solutions and support systems that enable businesses to thrive in a competitive global market. As the food sector continues to expand, this collaboration positions Egypt’s food exports for continued growth, contributing to the country’s broader economic ambitions.
