Latest news with #MSMEDA
See - Sada Elbalad
9 hours ago
- Business
- See - Sada Elbalad
Egypt Eyes Chinese Market Opportunities as Guest of Honour at Guangzhou SME Expo
Ahmed Emam Egypt is looking to strengthen economic ties and carve out a greater presence in the Chinese market as it takes center stage as Guest of Honour at the International Small and Medium Enterprises (SMEs) Expo in Guangzhou, running from June 27 to 30. Leading the Egyptian delegation, Basil Rahmy, CEO of Egypt's Micro, Small and Medium Enterprise Development Agency (MSMEDA), and Essam El-Naggar, Commercial Minister Plenipotentiary and Chairman of the General Organization for Exhibitions and Fairs, held a series of high-level meetings with Chinese officials and business leaders on the sidelines of the expo. The talks focused on deepening cooperation between the two countries, with Egypt hoping to tap into China's renowned expertise in building a robust SME sector—a cornerstone of China's economic rise that has created millions of jobs and fueled industrial growth. 'We're exploring how Egypt can benefit from China's successful model, particularly in industrial and manufacturing projects,' Rahmy said, noting that Egypt's government is prioritizing the development of the SME sector as a key driver of economic growth, job creation, and reduced reliance on imports. This focus aligns with directives from Prime Minister Mostafa Madbouly to harness the potential of Egypt's SMEs in boosting investment opportunities, localizing industries, securing supply chains, and raising product quality to global standards—efforts that could enhance Egypt's competitiveness both domestically and in export markets. El-Naggar underscored that Egypt's participation as Guest of Honour reflects the growing depth of economic relations between Cairo and Beijing. 'Trade ties between our countries are continuously evolving. Egypt is keen to attract more Chinese investment and identify new paths for Egyptian products to enter the Chinese market,' he said. He noted that Egypt's presence at the expo—which hosts hundreds of companies from around the world—provides valuable exposure and opportunities for Egyptian enterprises to build partnerships and expand their footprint. 'There's significant potential for Egyptian small businesses to supply goods and services to the Chinese market. This would not only give these businesses access to one of the world's largest economies but also help them innovate, develop new products, and scale up production,' he said. He praised the support provided by Egypt's Ministry of Investment and Foreign Trade, which has worked closely with MSMEDA to enable Egyptian companies to participate in major international trade events. 'Participation in global expos is critical for opening new markets and showcasing the high quality and diversity of Egyptian products,' Rahmy asserted. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
Zawya
3 days ago
- Business
- Zawya
Egypt: MSMEDA pens $3mln microfinance contracts with Alexandria Business Association
Arab Finance: The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has signed two new contracts worth a combined EGP 181 million with the Alexandria Business Association (ABA) to support microfinance initiatives across Egypt, as per a statement. The signing, attended by MSMEDA CEO Basil Rahmy and ABA Chairman Mohamed Hano, marks the launch of two projects: an EGP 100 million microfinance initiative and an EGP 81 million agricultural investment and livelihood support program. The agreements are part of MSMEDA's broader plan to expand its microfinance portfolio by working with a growing number of intermediary and development partners. These funds will help finance around 3,600 projects across the commercial, agricultural, service, livestock, and industrial sectors, with financing up to EGP 200,000 per project. Rahmy emphasized that the agency remains committed to expanding partnerships with development entities to support the microenterprise sector, a key pillar of the national economy. He noted that the new contracts target sectors with high employment potential, including handicrafts and agricultural projects, both of which meet local market needs and hold promise for global market access. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Daily News Egypt
4 days ago
- Business
- Daily News Egypt
MSMEDA signs EGP 181m microfinance agreements with Alexandria Businessmen Association
The Micro, Small and Medium Enterprise Development Agency (MSMEDA) has signed two new microfinance contracts with the Alexandria Businessmen Association, totalling EGP 181m, to support thousands of microenterprises across Egypt. The agreements were signed by Nevine Badr El-Din, Head of the Central Sector for Microfinance at MSMEDA, and Sherif Shoman, Executive Director of the Small Enterprise and Handicraft Development Project at the Association. The signing ceremony was attended by MSMEDA CEO Bassel Rahmy, Association Chairperson Mohamed Henou, and MSMEDA Deputy CEO Mohamed Medhat. The two contracts include a microfinance project valued at EGP 100m and an agricultural investment and livelihoods support project worth EGP 81m. Speaking at the event, Rahmy reiterated MSMEDA's commitment to expanding cooperation with development partners nationwide to bolster the microenterprise sector, a key driver of job creation and local market development. He stressed that enhanced financing plays a vital role in supporting the state's strategy to empower youth and women, foster self-employment, and reduce unemployment—particularly in underserved and rural areas. Rahmy noted that the latest funding agreements prioritise sectors with high growth potential, such as agriculture and handicrafts, which meet domestic demand and offer significant export opportunities. The initiative also aims to help microenterprises become more competitive and sustainable, thereby improving the livelihoods of targeted social groups. Mohamed Henou, Chairperson of the Alexandria Businessmen Association, said the new agreements mark the continuation of a long-standing partnership with MSMEDA. He pointed out that two previous contracts had already been signed, and these represent the third and fourth agreements between the two parties. Henou highlighted the Association's strong support for small and micro enterprises as a foundation for sustainable development, noting that it currently provides around 70,000 loans monthly, valued at nearly EGP 1bn. Nevine Badr El-Din confirmed that the new contracts fall within MSMEDA's strategic plan to expand its network of intermediary institutions and development partners, thereby facilitating faster and broader outreach to target groups. She emphasised that the funding will support the establishment, expansion, and sustainability of microenterprises, with financing available for working capital, machinery, and equipment. She added that the agreements are expected to finance approximately 3,600 projects across diverse sectors—including commercial, agricultural, service, livestock, and industrial activities—with loans reaching up to EGP 200,000 per project. The projects will be re-lent through non-profit associations to young graduates and experienced entrepreneurs seeking to expand existing businesses or launch new ventures, contributing to broader economic inclusion and sustainable local development.
Zawya
4 days ago
- Business
- Zawya
Egypt: MSMEDA signs $592,829 financing deal with Flend to support SMEs
Arab Finance: The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has signed a new EGP 30 million financing contract with Flend, as per a statement. The contract, funded under the World Bank's Catalyzing Entrepreneurship for Job Creation Project, aims at expanding support for small and medium enterprises (SMEs) across Egypt through advanced technological solutions. It was signed by Osama Bakri, Head of the Central Sector for SMEs Finance at MSMEDA, and Ahmed Zaki, Managing Director of Flend. CEO of MSMEDA Basil Rahmy affirmed that the agreement reflects the agency's broader strategy to boost financing for SMEs in all governorates, particularly in industrial and production sectors. He stated that the agency is committed to facilitating access to finance either directly or through intermediaries, with a focus on diversifying financing channels to meet the needs of business owners nationwide. The new contract aims to support existing SMEs in expanding, upgrading, and increasing their production capacity, Rahmy said, noting that financing will range from a minimum of EGP 100,000 to a maximum of EGP 5 million, depending on project requirements. He added that this step is expected to enhance the stability of SMEs and contribute to job creation, especially for women, youth, and graduates. For his part, Zaki said that Flend plans to inject EGP 1 billion in financing during its first year of operations, primarily through short-term lending solutions.
Daily News Egypt
5 days ago
- Business
- Daily News Egypt
Sixth Edition of Decision-Makers Conference Kicks Off in Cairo June 24
Egypt's economic and investment community is gearing up for the sixth edition of the Decision-Makers Conference, set to take place on June 24 at the St. Regis Hotel in Cairo, under the patronage of the Ministry of Finance, in collaboration with the General Authority for Investment and Free Zones (GAFI), the Egyptian Stock Exchange, and the Micro, Small, and Medium Enterprises Development Agency (MSMEDA). Themed 'The Repercussions of International Business Developments Among Major Powers and Their Impact on Global Economic Conditions, with a Focus on Egypt,' the conference will bring together an elite group of investors, bankers, corporate executives, policymakers, academics, and media professionals to explore Egypt's position in a rapidly shifting global landscape. Engineer Samir Farag, CEO of the organizing company Sun & Sam, emphasized the importance of the event in light of ongoing global economic upheavals, policy realignments, and evolving trade dynamics. 'This conference arrives at a critical moment. It aims to establish a practical roadmap to seize investment opportunities for Egypt and propose strategic responses to global economic challenges,' Farag said. A Strategic Platform for Economic Dialogue The conference will feature three high-profile panel discussions, keynote insights, and strategic dialogues, addressing a broad range of economic, financial, and technological issues. Key themes to be explored include: The impact of global developments on Egypt's banking and non-banking financial sectors The future of foreign direct investment (FDI) and strategies for maximizing Egypt's competitiveness The role of artificial intelligence and big data in enhancing market forecasting and investment decision-making Digital transformation in banking and finance, and its ability to mitigate economic turbulence Approaches to localizing foreign investments, managing hot money flows, and increasing international competitiveness Regulatory and strategic responses to climate-related investment risks and export control measures Reassessing the line between investment, hoarding, and savings Featured Speakers and Panel Highlights The event will host three themed sessions moderated by leading voices in economics and business: Session 1 – Moderated by Mr. Medhat Yassin, Strategic Marketing and Business Transformation Advisor. Panelists include: Mr. Sherif Seif El-Nasr, Chairman, Gezira Sporting Club Mr. Alaa El-Kahky, Founder & Chairman, Al-Nahar TV Dr. Rami Khodair, International Marketing Expert, Founder & CEO of AIM Major General Yasser Abbas, Deputy CEO, GAFI Mr. Hamed Arafa, Chairman, Highlights A special keynote will be delivered by Dr. Sherif Dowidar, an Egyptian economist, on the intersection of global macroeconomic shifts and Egypt's investment outlook. Session 2 – Moderated by Dr. Dalia Aboul-Magd, Chairperson of Data Life AI. Panelists include: Mr. Basil Rahmy, CEO, MSMEDA Dr. Alaa El-Zohiry, Chairman, Egyptian Insurance Federation & MD of GIG Ms. Nevine Mansour, Advisor to the Minister of Finance Mr. Basil Rashdy, Secretary-General, Egyptian Direct Investment Association Mr. Sherif Monsef, Founder & CEO, Connection Ventures Session 3 – Moderated by MP Dr. Ibrahim Hegazy, Head of Marketing, American University in Cairo. Panelists include: Dr. Ahmed Ghoneim, CEO, Grand Egyptian Museum Dr. Hany Tawfik, Economist & Board Member, Misr Venture Capital Mr. Tarek Kamel, Chairman & MD, Nestlé Egypt Eng. Mahmoud Ghazal, Chairman, MGS Group Mr. Alaa Fathy, GM, Manfoods (McDonald's Egypt) A Growing National Platform Since its inaugural edition in March 2023, the Decision-Makers Conference has evolved into a prominent national platform for stakeholder dialogue. The previous edition, held in October 2023, was organized under the auspices of the Ministry of Housing, Utilities, and Urban Communities and the Ministry of Investment and Foreign Trade. The upcoming edition is expected to attract wide media coverage and high-level engagement from both the public and private sectors, reinforcing the event's role in shaping Egypt's investment and policy landscape in an increasingly interconnected global economy.
