MSMEDA injects EGP 17.4bn into 900k women-led enterprises over past decade: CEO

Daily News Egypt

7 days ago

Bassel Rahmy, CEO of the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), announced that the agency has allocated EGP 17.4bn over the past 10 years to support women-led micro and small enterprises across Egypt. This funding has empowered around 900,000 projects and contributed to the creation of approximately 1.2 million job opportunities.
Rahmy highlighted that 54% of the total funding—equivalent to EGP 9.4 billion—was channelled into projects located in Upper Egypt, border governorates, and other underserved areas most in need of development. He emphasised the agency's determination to double this financing in the coming period, in line with government efforts to enhance women's economic participation and unlock their potential as drivers of national growth.
The announcement was made during the 'Women in SMEs' Conference, organised by the Women Entrepreneurs Club under the patronage of MSMEDA. The event gathered representatives from leading financial institutions, entrepreneurship support organisations, ambassadors, and distinguished female leaders from across various economic sectors.
In his remarks, Rahmy reiterated MSMEDA's commitment to working in close coordination with government bodies, civil society organisations, and development partners to further empower women economically. He stressed the importance of supporting women not only in launching new enterprises, but also in expanding and developing existing ones across industrial and service-based sectors. This approach, he noted, aims to cultivate a new generation of pioneering women entrepreneurs who can contribute meaningfully to Egypt's economic transformation.
Rahmy also underlined the significance of the agency's participation in such conferences, as they serve as platforms to exchange expertise, share successful models, and align with international best practices—particularly in relation to the SME sector and women's empowerment. These efforts, he said, are central to Egypt's development agenda and are fully aligned with Egypt Vision 2030 and the United Nations Sustainable Development Goals.
During the event, Rahmy presented the full range of services MSMEDA offers to support entrepreneurs, including both financial and non-financial assistance. He noted the agency's ongoing efforts to expand the accessibility of its services across the country, especially for women and young people, by leveraging digital transformation tools and platforms.
Mona Mourad, Founder and CEO of the Women Entrepreneurs Club, affirmed the Club's commitment to enhancing the capabilities of Egyptian women and enabling them to take the lead in medium and large-scale enterprises. She pointed to the conference's collaboration with the American University in Cairo's Centre for Entrepreneurship and Innovation and Alcatel-Lucent as a prime example of how public-private-academic partnerships can accelerate women's leadership in digital transformation and institutional growth.
Mourad commended MSMEDA for its pivotal role in building the capacities of women across various economic activities, particularly by supporting productive, sustainable projects. She added that the agency's presence at the event reflects the growing synergy between state institutions and development actors, both local and international, in creating a thriving ecosystem for female entrepreneurship.
In recognition of their success, Rahmy honoured several women who have built notable businesses with MSMEDA's support. Among them was Yasmin El-Sweifi, who owns a thriving restaurant chain in Cairo; Mona Sami, who founded a business producing educational and interactive toys; and Sherine Saleh, who established a manufacturing project for medical and cosmetic supplies. Their achievements, Rahmy said, are a testament to the transformative impact of targeted support and inclusive development policies.