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MSMEs are the backbone of MENA economies, comprising nearly 90% of private firms and playing a pivotal role in the creation of dynamic, competitive, and inclusive economies and jobs, according to International Finance Corporation (IFC’s) press statement on Tuesday.
About 80% of entrepreneurs fail, that is why business incubators are very important
Service sector received EGP 62.2bn banking funds, while industrial sector got EGP 43.1bn
The ministry added in a press statement, on Saturday, that this law aims to improve the growth structure and raise its rates, which will subsequently provide more job opportunities for youth.
Bank signs cooperation protocol with universities to provide workspaces for entrepreneurs
Bank pumped EGP 605m to 1,314 clients in CBE’s initiative, says Elkosayer
Protocol extends over 1 year, financing between EGP 500,000, EGP 10m
The SANAD Fund for MSMEs (SANAD) announced, in a press statement on Monday, that it will finance a $10m senior loan to Egypt’s Banque du Caire to support the expansion of the bank’s lending operations for micro, small, and medium enterprises (MSMEs). Banque du Caire, which is Egypt’s sixth largest bank, with its status as …
A special office to provide financial and non-financial services to SMEs as well as technical training and marketing support
The contract aims to finance 23,000 new and existing projects to provide 4,600 jobs in the sectors of agriculture and livestock
Authority provides new funding programmes to the youth to launch their small businesses, says Gamaa
Banque Misr and the Industrial Development Authority (IDA) signed a cooperation protocol to finance the establishment of industrial parks. Mohamed El-Etreby, chairperson of Banque Misr, and chairperson of the Industrial Development Authority (IDA) Ahmed Abdel Razek signed the protocol. The agreement includes Banque Misr offering financing for allocated projects and reviewing them within 15 days. …
High interest rates are main obstacle for MSMEs in Egypt, says HDB chairperson
The bank has presented a plan to the CBE to increase the share of funds provided to SMEs in its lending portfolio by 7% by 2019, said El-Bendary
Banks are currently preparing their infrastructure to begin implementing CBE initiative