Egypt’s Commercial International Bank (CIB), one of the country's leading private sector banks, has announced a new strategic partnership with Lantern Ventures, a Cairo-based venture studio. This collaboration aims to deliver both financial and non-financial support to Egypt’s small and medium-sized enterprises (SMEs), widely considered a vital engine for the country’s economic development. By combining CIB’s banking capabilities with Lantern Ventures’ hands-on business expertise, the partnership seeks to accelerate sustainable growth across the SME landscape.
Reinforcing Egypt’s Economic Backbone
SMEs represent a significant share of Egypt’s private sector and are critical to job creation and innovation. However, many of these businesses continue to face financial and operational challenges that hinder their full potential. The CIB–Lantern alliance is poised to address these issues through customized financial products and strategic advisory services designed to help SMEs thrive.
A Dual-Faceted Support System
Unlike traditional financing initiatives, this partnership offers a holistic approach. CIB will provide tailored financial services, while Lantern Ventures will complement this with hands-on support, including legal counsel, HR advisory, IT infrastructure, and business development resources. Together, they aim to provide SMEs not only with access to capital but also with the tools and strategies needed for long-term sustainability.
Leadership Voices Support for Change
Yasser Abdella, Deputy Chief Retail & Commercial Banking Executive at CIB, emphasized the bank’s commitment to supporting entrepreneurship. “CIB recognizes how SMEs positively contribute to Egypt’s economic growth,” he said, adding that the initiative will accelerate sustainable, long-term development across the sector. The statement underscores the bank’s vision of inclusive growth and its role in strengthening the economic ecosystem.
Lantern Ventures’ Strategic Value-Add
Lantern Ventures, known for its work with entrepreneurs featured on Shark Tank Egypt, brings a strong track record in operational excellence and entrepreneurial mentorship. Its involvement will ensure that SMEs don’t just receive funding, but also expert guidance to overcome structural and strategic challenges. The studio’s model is built around de-risking businesses through comprehensive oversight and tailored support.
Restoring Trust Between Banks and Startups
For Lantern Ventures, the collaboration is also about reshaping the relationship between traditional finance and the startup world. “Through this initiative, our aim is to rebuild trust between the banking sector and small businesses,” said Mohamed Farouk, Chairman of Lantern Ventures. He noted that Lantern’s role will include acting as a strategic oversight partner to ensure that funding is used efficiently and sustainably.
Driving Accessible and Responsible Financing
A key component of the initiative is making credit more accessible and fair for SMEs, a demographic that often finds it difficult to secure funding on reasonable terms. By leveraging CIB’s financial infrastructure and Lantern’s operational insights, the program aims to promote responsible lending and transparent use of capital. This approach is expected to yield more resilient and scalable businesses across various sectors.
With this new partnership, CIB and Lantern Ventures are charting a more supportive and strategic path forward for Egypt’s SMEs. Their joint efforts represent a move away from transactional banking toward relationship-based growth, where financial and operational guidance go hand in hand. As Egypt continues to focus on inclusive economic development, initiatives like this are set to play a central role in unlocking the potential of its entrepreneurial base.