EBA was founded in 1975 and ratified in 1979 under the law 32/1964. EBA is a non-governmental, non-for-profit organization that seeks to unify the efforts of private Egyptian interests in contributing to the productivity and efficient national economic and social development of Egypt. In order to carry out these duties, EBA had to be in the first place a lobbying power on behalf of the Egyptian business community to protect its interests and enhance the private sector existence
Presently, the Egyptian economy does not act under planned forces but rather under the free market forces. With all these privatization programs and the growing private sector share in the GDP together with the globalization process.