Hub for Advisory, Finance and Investment for Enterprises (HAFIZ)

This information was sourced from "Hub for Advisory, Finance and Investment for Enterprises" by Observatory of Public Sector Innovation (OECD), https://oecd-opsi.org/innovations/hub-for-advisory-finance-and-investment-for-enterprises/. Licensed under Creative Commons Attribution-ShareAlike 3.0 IGO (CC BY-SA 3.0 IGO).

Innovation Overview

Egypt's private sector, despite its potential, faced limited access to the resources and support offered by international development partners. This ended up hindering the growth and overall economic development of Egypt's firms. Specifically, some problems can be identified:

• Information Overload: Businesses are bombarded with a large number of offerings from development partners, making it difficult to identify the most relevant support.
• Time-Consuming Process: Sifting through complex information and navigating bureaucratic procedures can be incredibly time- and resource consuming for businesses which drains their resources.
• Language Barriers: Many resources are only available in English and few are available in Arabic, creating a significant hurdle for businesses less comfortable with the language.
• Gap in Information: Many private sector companies remain unaware of the services available to them from development partners, further limiting their growth.

In the Egyptian Economic Conference 2022, the need for enhanced private sector engagement and the crucial role of development partners was highlighted. Hafiz serves as a concrete realisation of these recommendations. The "Private Sector Engagement Unit" at the Ministry of International Cooperation was created with task to connect the private sector with development partners. The first step was to create a portal for private sector engagement. The portal – Hafiz – fulfils this need by providing a central, user-friendly platform for private sector companies to access information and resources.

The platform's comprehensive database of financial and technical support services was built through extensive collaboration with development partners, who listed their offerings and ensured their accuracy. Further, to truly understand the challenges faced by businesses, we actively engaged with representatives from various sectors of the private sector. These invaluable insights shaped the platform's design and ensured it catered to their specific needs. A dynamic design sprint workshop brought together stakeholders from across the government, development partners, and the private sector. Through a collaborative brainstorming process, they shaped the platform's features and functionalities.

The Hafiz platform is an innovative one-stop-shop solution brought forth by the Egyptian government, which bridges the gap between the private sector and development partners. It provides a comprehensive and user-friendly interface for businesses of all sizes and sectors.

What Makes Your Project Innovative?

• AI-powered matching: Utilising advanced technology, Hafiz accurately connects businesses with the most relevant development partner services, significantly reducing time and effort needed.
• User-friendly interface: Hafiz features a streamlined and accessible interface that caters to users of all technical backgrounds and information is presented clearly and concisely, with no complex menus or technical jargon.
• Multilingual accessibility: Hafiz offers content in both Arabic and English, ensuring that all segments of the private sector can access and understand the available resources.
• Verified and current information: Hafiz sources its data directly from development partners, guaranteeing up-to-date and accurate information regarding their services and offerings.
• Multi-channel communication: Hafiz provides businesses with various communication channels, including an AI chatbot, contact forms, email, and phone calls, to ensure they can readily access support and guidance.

What is the current status of your innovation?

Launched in December 2023, The Hub has rapidly made its mark. Over 75 financial and technical support services from 20 development partners are now readily accessible to private sector companies, with thousands exploring the platform within the last month alone. The AI-powered matchmaker has connected businesses with relevant resources, saving valuable time and effort. We're currently in a crucial phase of expansion, actively onboarding new development partners and integrating their offerings.

Collaborations & Partnerships

• Government: The MoIC spearheaded Hafiz as a bridge between development partners and the private sector. We steered stakeholder engagement and secured buy-in from various partners.
• Development Partners: 45+ international development partners actively contributed their service offerings and expertise, enriching the platform's content and ensuring its relevance to diverse business needs.
• Private Sector: Businesses provided feedback during consultations and design workshops.

Users, Stakeholders & Beneficiaries

• Private Sector: Businesses of all sizes as well as private sector support associations gain access to a wealth of financial and technical support, unlocking opportunities for growth and innovation. SMEs, in particular, benefit from the simplified interface and targeted matching to overcome resource constraints.
• Development Partners: Increased visibility and efficient access with potential beneficiaries leading to more impactful projects and resource utilisation.

Results, Outcomes & Impacts

Hafiz, within its first month, received numerous inquiries from a diverse range of businesses, demonstrating its broad appeal. This surge signals the platform's potential to reach a wide audience, including entrepreneurs, startups, SMEs, and larger corporations. Thousands of businesses explored the platform, highlighting its capacity for meaningful connections. National, regional, and international media coverage underscores public interest in bridging the gap between the private sector and development partners. A dedicated Relationship Management database efficiently captures and tracks user interactions, providing valuable insights for evidence-based policymaking by the Ministry.

Challenges and Failures

In response to the surging user base on Hafiz, the platform is proactively addressing challenges. Regular user experience audits and iterative updates enhance the interface, ensuring user engagement remains seamless. The introduction of an advanced project management system streamlines diverse initiatives, while stringent cybersecurity measures safeguard sensitive data. Community-building initiatives foster collaboration among users, promoting a vibrant knowledge-sharing community. These strategic responses aim to enhance Hafiz's effectiveness and user satisfaction amidst its rapid growth.

Conditions for Success

• Adaptation: Continuous improvements based on user feedback and evolving needs ensure the platform’s relevance and responsiveness to market needs.
• Active Partnership: Continuous engagement with development partners, and the private sector will drive regional collaboration and development on a larger scale.

Replication

While Hafiz is still new, its potential for replication is already observable:

• Internal Expansion: Within the Egyptian government, other ministries and agencies have expressed interest in integrating the Hub’s model, showcasing its potential to streamline resource access across sectors.
• Development Partner Collaboration: Several development partners are exploring possibilities for interlinking Hafiz with their own platforms, aiming to create a global network of support for the private sector.
• South-South Cooperation: the Ministry of International Cooperation envisions HAFIZ as a regional portal as many online visitors are from other countries

Lessons Learned

• User-Centric Design for High Adoption: Shaped by user research and collaborative sprints, Hafiz prioritizes innovation tools and user-centric design to address beneficiaries' challenges, resulting in a high adoption rate.
• Efficient Resource Allocation with AI: Hafiz's AI-powered search tool reduces businesses' time and effort in identifying support by 60%, enhancing access and streamlining processes, showcasing the transformative power of technology in resource allocation.
• Impactful Collaboration: Hafiz's success hinges on robust partnerships integrating government officials, development partners, and the private sector, presenting a collaborative model for future initiatives driving positive change through collective action.

Budget: Not disclosed