Daily News Egypt

ABA's micro finance initiative to reach 14 governorates by end of year - Daily News Egypt

Advertising Area

Advertising Area

ABA’s micro finance initiative to reach 14 governorates by end of year

Initiative's credit portfolio hit EGP14bn, says chairperson

The micro finance initiative launched by the Alexandria Businesses Association (ABA) will expand to 100 branches in 14 governorates by end of this year, said Mohamed Sabry, chairperson of ABA.

This came during the conference ‘Future of Investment in Egypt..Vision of Business Community,’ held on Monday by the Egyptian Businessmen Association (EBA), Egyptian Junior Business Association (EJB), and ABA.

The micro finance initiative reached 1.5m people while the credit portfolio hit EGP14bn, Sabry mentioned, adding that ABA launched and participated in several initiatives to provide finance for micro enterprises, in addition to training for employment activities.

ABA gathers about 300-member-companies in all fields of the economy, including industry, tourism, maritime, and others, Sabry added, noting that his association offers 65,000 job opportunities through the member companies.

ABA also inaugurated its V-Tech center that helped 2,000 Egyptians get job opportunities after receiving the required training programmes, he said.

The center provides 12 specialised workshops that are certified from esteemed foundations and in full coordination with reputable institutions including the American University in Egypt (AUC), Sabry stated.

He also explained that the ABA adopted several initiatives to deepen the Egyptian industry as well as the Arab industry, noting that he discussed new ways to boost Egypt’s exports to Arab countries with the ministry of trade and industry.

ABA discussed with parliament the amendments of about 45 laws in cooperation with the Egyptian government, he said, adding that his association held 200 meetings, organised 28 working trips abroad, and participated in 100 exhibitions and conferences.

Advertising Area

Breaking News

No current breaking news

Receive our daily newsletter