Latest news with #BaselRahmy
CairoScene
a day ago
- Business
- CairoScene
MSMEDA Injects LE 2.2 Billion Into Alexandria Projects Since 2014
Egypt's enterprise agency has channelled LE 2.2 billion into Alexandria since 2014, backing micro, small, and medium-sized businesses, training programmes, and infrastructure upgrades. Jul 20, 2025 Egypt's Micro, Small and Medium Enterprises Development Agency (MSMEDA) has invested LE 2.2 billion in Alexandria since July 2014, supporting more than 51,000 projects and generating over 110,000 job opportunities. According to MSMEDA CEO Basel Rahmy, the funding included LE 102 million allocated to infrastructure, training programmes, and community development, resulting in 718,000 workdays across the governorate. The announcement came during a meeting with Alexandria Governor Ahmed Khaled to discuss strengthening industrial projects in areas such as Borg El Arab and Merghem. The agency also reviewed efforts to formalise unregistered businesses so they can benefit from new tax and regulatory incentives. These reforms include Law 6 of 2025, which introduced simplified tax rates starting at 0.4% of annual turnover, alongside exemptions from various duties to support MSME growth.
Zawya
4 days ago
- Business
- Zawya
Egypt's enterprise agency injects $44mln into Alexandria projects
Egypt's Micro, Small and Medium Enterprises Development Agency (MSMEDA) has injected EGP 2.2bn into 51,000 projects in the governorate of Alexandria since July 2014, its chief executive said. Basel Rahmy stated that the financing, provided between July 2014 and May 2025, has created more than 110,000 jobs. Of the total funding, 102 million pounds were allocated to infrastructure, community development, and training projects, providing 718,000 workdays, he added. Rahmy's comments came during a meeting with Alexandria's Governor, Ahmed Khaled, to discuss enhancing cooperation and support for small and medium-sized enterprises (SMEs), with a focus on industrial projects in areas like Borg El Arab and Merghem. The meeting aligns with directives from Prime Minister Mostafa Madbouly to increase financial, technical, and non-financial services for citizens, particularly youth, women, and recent graduates, and to support productive clusters, Rahmy said. He emphasized the agency's commitment to expanding access to financing for both existing and new projects, especiallyin the productive and industrial sectors, due to their importance to the national economy. Rahmy also noted the agency's efforts to educate project owners about supportive laws, including Law 6 of 2025, which offers significant tax benefits. These include a simplified tax rate starting at 0.4% of annual turnover for projects up to half a million pounds, rising to 1.5% for turnover between 10 million and 20 million pounds, along with exemptions from various other taxes and duties. For his part, Governor Khaled said that Alexandria possesses promising investment opportunities and is one of Egypt's most important industrial governorates. He added that the governorate is working to expand existing industrial activities and is cooperating effectively with MSMEDA to provide necessary financing and services to project owners. Khaled affirmed the continued cooperation with the agency, particularly in formalising informal projects to enable them to benefit from the advantages offered by Law 152 of 2020 on SME development. During the meeting, the governor and MSMEDA's chief executive presented direct lending cheques to five project owners and issued formalisation licenses and classification certificates to five others. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Daily News Egypt
06-07-2025
- Business
- Daily News Egypt
24,000 women-led projects financed since 2020 through MSMEDA–AFD partnership
Approximately 24,000 small and micro-enterprises led by women have been financed across Egypt since 2020 under the Women's Enterprise Support Programme, according to Basel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA). Implemented in partnership with the French Development Agency (AFD), the initiative has targeted both rural and urban areas, with a focus on Upper Egypt and the Nile Delta, creating around 60,000 job opportunities. Speaking on Rahmy's behalf at the programme's closing conference, Raafat Abbas, Deputy CEO of MSMEDA, noted that the funding was delivered through multiple channels—banks, finance companies, NGOs, and direct lending via MSMEDA's branch network. Rahmy emphasised MSMEDA's commitment to deepening partnerships with international development institutions that prioritise women's economic empowerment, adding that such collaboration helps Egypt benefit from global expertise in implementing inclusive programmes. Empowering Women across Productive Sectors The Women's Enterprise Support Programme, launched in January 2020, offered support across a range of productive sectors including food processing, garment manufacturing, and traditional tent-making (khayamiya). Women entrepreneurs benefited from vocational training, marketing assistance, and the opportunity to participate in exhibitions. Rahmy stressed that MSMEDA's strategy reflects a clear national vision to empower women economically and position them as key contributors to the Egyptian economy. This vision, he added, aligns closely with the priorities of AFD and Egypt's Sustainable Development Goals (SDGs). He also praised the strong partnership between MSMEDA and AFD and acknowledged the support of the Ministry of Planning and Economic Development and the National Council for Women, whose coordination helped ensure the programme's effectiveness. Tailored Support and Community Impact Abbas explained that the programme began with a comprehensive market assessment of the status of women's entrepreneurship in Egypt. The resulting studies helped shape customised financial products and credit solutions to support women-led businesses and promote sustainable employment. In addition to financial support, the programme provided non-financial services and capacity-building workshops in areas such as Ezbet Khairallah (Cairo), El-Desmi (Giza), and Old Cairo. These activities included training in business planning, marketing, and management, as well as assistance in accessing trade exhibitions. AFD: Programme Exceeded Expectations Representing the French Development Agency, Andrew Hanna, Director of Sustainable Development Projects, commended the programme's strong results, particularly given its launch amid the global disruption of the COVID-19 pandemic. Elsa Favre, Director of the Sustainable Development Sector at AFD, reiterated the importance of the initiative to both the agency and the Egyptian government, praising its lasting contribution to women's empowerment and inclusive growth. The closing conference concluded with the honouring of participating NGOs and outstanding women entrepreneurs, and a mini-exhibition showcasing products created by beneficiaries from across the programme's supported communities.
Middle East
14-05-2025
- Business
- Middle East
OPEN// 13th edition of "Buy Egyptian Art" Exhibition held under patronage of FM
CAIRO, May 14 (MENA) - The National Coordinating Committee for Combating and Preventing Illegal Migration and Human Trafficking organized Wednesday the 13th edition of the "Buy Egyptian Art" Exhibition under the auspices of the Minister of Foreign Affairs Emigration and Egyptian Expatriates and in cooperation with the Micro, Small and Medium Enterprise Development Agency (MSMEDA). The exhibition is being organized within the framework of support provided by the ministry to the National Committee for Combating and Preventing Illegal Migration and Human Trafficking (NCCPIM) - of which the ministry is a member. Assistant Minister of Foreign Affairs for Cultural Relations ambassador Yasser Shaaban participated in the opening of the exhibition, on behalf of the minister of foreign affairs, along with CEO of MSMEDA Basel Rahmy, NCCPIM's Chairperson ambassador Naila Gabr, Chief of Mission of the International Organization for Migration (IOM) in Egypt Carlos Oliver and Ihab Leheita, Vice President of Gezira Club. The "Buy Egyptian Art" series aims to contribute to reducing illegal emigration and human trafficking by supporting owners of craft and heritage projects helping them expand their clientele within the Egyptian and foreign diplomatic community, thus contributing to establishing ongoing, long-term cooperation that creates ongoing marketing opportunities for project owners. (MENA) S A S
Egypt Independent
14-05-2025
- Business
- Egypt Independent
13th Edition of 'Buy Egyptian Art' Exhibition held under patronage of FM
The National Coordinating Committee for Combating and Preventing Illegal Migration and Human Trafficking organized on Wednesday 14/5/2025 the 13th edition of the 'Buy Egyptian Art' Exhibition under the auspices of the Minister of Foreign Affairs Emigration and Egyptian Expatriates and in cooperation with the Micro, Small and Medium Enterprise Development Agency (MSMEDA). The exhibition is being organized within the framework of support provided by the ministry to the National Committee for Combating and Preventing Illegal Migration and Human Trafficking (NCCPIM) – of which the ministry is a member. Assistant Minister of Foreign Affairs for Cultural Relations ambassador Yasser Shaaban participated in the opening of the exhibition, on behalf of the minister of foreign affairs, along with CEO of MSMEDA Basel Rahmy, NCCPIM's Chairperson ambassador Naila Gabr, Chief of Mission of the International Organization for Migration (IOM) in Egypt Carlos Oliverand Ihab Leheita, Vice President of Gezira Club. The 'Buy Egyptian Art' series aims to contribute to reducing illegal emigration and human trafficking by supporting owners of craft and heritage projects helping them expand their clientele within the Egyptian and foreign diplomatic community, thus contributing to establishing ongoing, long-term cooperation that creates ongoing marketing opportunities for project owners.
