Egypt’s MSME financing records EGP 181bn since January 2016: CBE
MSME initiative was launched by the CBE in January 2016. It has achieved a record volume in facilities and loans granted by the end of March 2020.
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CBE provides EGP 7bn guarantee for corporate financing
Initiative aims to benefit clients of industrial, agricultural, and contracting private sectors whose annual work volume/revenues amount to EGP 200m or more
Parliament approves amendments to Anti-Terrorism Law defining terror financing
Amendments were sent to State Council for reviewal
Banque du Caire leads banking alliance to raise €150m for financing MDF factory
The factory is being built in Idku, Beheira, with a production capacity of 205,000 annually, at a total cost of €215m
MSMEDA participates in Financing SMEs and Strat-ups Forum in Jordan
Authority has financed 545,000 small and micro projects, creating 850,000 jobs in last two years, says Gamea
Sarwa Capital`s net income hikes 24% y-o-y in 1H2019 reaching EGP183m
Upon approval of shareholders, paid-up capital will be increased from EGP 119.697m to EGP 191.515m
Consumer financing activity under control
Activities worth EGP 70bn to experience first legislative framework ever
FRA insurance programme supports microbusiness financing
Microbusiness financing inched up 10% in Q3
EBRD enhances financing to Egyptian small businesses via $75m loan to Banque Misr
EBRD is providing a $75m loan to Banque Misr to support the growth and development of small and medium sized enterprises (SMEs) in Egypt. SMEs account for over 90 percent of enterprises in Egypt and contribute to the majority of total employment in the country. However, access to finance for SMEs remains limited, and improving …
Banks block terrorism by expanding financing for small, medium and micro enterprises
CBE believes SMEs can counter terrorism through creating jobs, reducing unemployment, says El-kholy
3 banks contribute largest share of financing for housing loans
HDBEG contributes EGP 3.5bn to the CBE’s initiative, NBE gives EGP 2bn, and Banque Misr’ share accounts for 22.5%
Cooperation protocol between CGC and Egyptian Union of Microfinance to qualify 25 companies to obtain financing from banks
Companies were chosen across the country with a special focus on Upper Egypt, says Zo El Fokkar
The role of Middle East banks in fighting terrorism financing
In the war against terrorism, it’s not just government agencies and military personnel who are on the front lines. Bankers can also play an important role in fighting terrorism. That’s because terrorism needs money to survive and thrive. Although terrorists are increasingly using alternative financial methods, the banking system continues to be the most reliable …
Record financing for SMEs in Europe
Strong expectations for banks to increase financing to SMEs and major projects in 2017: El-Etreby
Banque Misr aims to implement a strong plan to expand in terms of products and geography
Metropolitan Egypt negotiates with bank to secure financing for 3 companies
Metropolitan Egypt is negotiating with a number of banks to provide financing worth EGP 14m to three companies working in chemicals, medical devices, and contracting, according to company head Khaled Nagaty. Yasser Kamal, credit supervisor at Metropolitan Egypt, said that ProPlan Contracting needs financing of EGP 5m, in addition to letters of guarantee worth EGP …
Bank Audi Egypt aims to increase SMEs portfolio to EGP 6bn in 4 years: deputy chairperson
Current portfolio stands at EGP 1bn, supported by strong specialised SMEs financing schemes, says Fayed
NBE allocates €500m for financing private sector projects: chairperson
The bank has provided loans worth EGP 24.6bn for SMEs, with more than 47,000 projects having benefited, says Okasha
US dollar shortage negatively affects banks financing import operations, lending to projects with a foreign component
The US dollar shortage has negatively affected banks’ activities that are related to financing imports and lending to projects that include a foreign component, according to Amr Tantawy, managing director of Misr Iran Development Bank (MIDB) and board member of the Federation of Egyptian Banks’ (FEB) board of directors. Tantawy told Daily News Egypt that banks’ activities are divided between local and foreign trading …
Establishing companies through IPO takes over amid government trend of financing through EGX
Government demands that it benefit from the exceptions made by the EGX in 2014 regarding launching companies established through IPO, especially in the infrastructure and agricultural sectors
EAEF increases financing to $96m in Egyptian startups
Despite Egyptian pound’s devaluation, high poverty, and extreme trade imbalance, SMEs are thriving
Egyptian Banking Institute organises visits to India, Hungary to learn about SME financing
The purpose of the visit to Hungary was to meet heads of units of SME financing in banks in order to identify the basis for the application of international practices in financing these projects in Central and Eastern Europe
Lack of financing hinders SMEs in Egypt
The lack of a unified body responsible for this sector is the main problem, says El-Saeed
Some banks find it difficult to implement the CBE’s SME financing initiative due to lack of specialised staff, geographical spread
Doubts about the continuation of these projects in Egypt in wake of the recession and economic problems that even big companies cannot cope with, says Abdel Aal
Financing is most important requirement for developing SMEs: UAB
CBE initiatives target facilitating required financing for these projects, says CBE deputy governor
Fat-cat charities and terrorist financing
Charities were originally formed to provide aid to those less fortunate than ourselves; most are indeed legitimate channels to help people in need. However, some charities are fraudulent, created to take advantage of the needy and the generous. Some charities have been used as a cover for money laundering or financing terrorists. It is estimated …
Banque Misr considers financing major sectors with EGP 43.5
Bloomberg awards the bank for being the best in marketing joint loans and financing projects in Africa for the third consecutive quarter
UK-sponsored Nomou Initiative to promote SME sector
Nomou, funded by the UK government, Shell Foundation and GroFin, provides technical and business support to entrepreneurs
Palm Hills to manage financing joint project with MNHD near new capital: Source
Project to generate EGP 4.6bn–EGP 5.5bn revenue, development over 4 phases through 10 years, says joint statement
Summit to put Egypt back on investor map: IFC Country Manager
Our focus going forward in Egypt will be infrastructure especially energy, says IFC Country Manager