Egypt’s MSME development agency agreed with Majid Al Futtaim Holding to market Egyptian products at Carrefour’s hypermarket branches
Egypt’s Micro, Small, and Medium Enterprises Development Agnecy (MSMEDA) has signed a Memorandum of Understanding (MoU) with Majid Al Futtaim Holding, the exclusive franchisee for the international hypermarket chain, Carrefour, to market Egyptian homemade products through Carrefour’s various branches.
The targeted products for the marketing campaign will be made by small and micro youth enterprises in Egypt, and will be sold through Carrefour’s various branches inside and outside the country.
Minister of Trade and Industry and Executive Director of MSMEDA, Nevine Gamea, witnessed the signing, which also aims to ensure these products benefit from all the marketing services provided by this international retail chain. It will also open new markets and outlets for distinguished Egyptian products that are produced through the small and micro enterprises sector.
The MoU was signed by Raafat Abbas, Head of the central sector for non-financial services at MSMEDA, and Jean-Luc Graziato, Country Manager at Carrefour Egypt, which falls under the umbrella of Majid Al-Futtaim Retail. Also present at the signing were: Tarek Shash, Executive Vice President of MSMEDA; Herve Majidier, CEO of Carrefour’s Middle East operations; and a group of officials from the Ministry of Trade and Industry and MSMEDA.
Gamea said that the cooperation will implement Egyptian President Abdel Fattah Al-Sisi’s directives support the small and micro enterprises sector. This entails also providing it with the marketing support it needs to ensure the continuation of these projects and raise their production.
The MoU will also ensure that job opportunities are provided, and that there is effective participation in Egypt’s economic development.
The minister indicated that MSMEDA is working on implementing an ambitious strategy to open marketing outlets for youth projects in various local and international commercial chains.
Help will also be provided to project owners to raise the efficiency of their products, so that they can match the competitive capabilities of similar products made elsewhere. It will ensure that Egyptian made products match the quality requirements of major commercial chains.
Gamea highlighted that marketing services and the promotion of youth project products are no less important than financing services. The difficult economic conditions the world is going through due to the novel coronavirus (COVID-19) pandemic forces everyone to create various strategies and marketing alternatives.
When put in place, these will serve this sector and protect its projects from recession and weak production. As part of this, MSMEDA is looking to use new marketing methods, in addition to exhibitions and electronic marketing, to increase the sales. This will also raise the sales rates of distinguished projects, ensure their continuation, and raise their production capabilities.
She highlighted the importance of awareness among consumers nationwide, and increasing interest in buying homemade products.
It is particularly important to ensure that they are of good quality and sold at reasonable prices. This support for Egyptian products has a broad social and economic impact, and it is sufficient that it preserves job opportunities for Egypt’s youth.
Hany Weiss, CEO of Majid Al Futtaim Retail, said, “This agreement provides a platform to support suppliers of small- and medium-sized enterprises (SMEs), with the aim of increasing the spread of their products and raising production levels.”
He added, “We continue to fulfil our commitment to the communities in the countries in which we are located, by continuing to ensure the provision of a variety of the best products and exceptional services to our customers”.
Raafat Abbas, Head of the Central Sector of Non-Financial Services at MSMEDA, said that MoU will launch a development programme aimed at Egyptian suppliers to Carrefour chains in the Middle East.
It will represent a quantum leap in the marketing services provided by the authority to SME owners. As part of this, standards will be set for the quality of the products presented in Carrefour, with the agency providing support for projects in getting their products to the international retail chain.