Latest in Tag: SMEs Highlight
Latest in Tag: SMEs
Bot to serve as reliable source of information and guidance to assist start-ups at each stage: Founder of Rise Up
Local market banks involved in project agree to increase lending rates in next stage, says Local Development Minister
FEDCOC signs cooperation protocols with Egyptian banks to provide easy financing mechanism for youth
MSMEs exempted from stamp tax, documentation fees, while custom duties on machinery, equipment reduced from 5% to 2%
Addressing business owners, Egypt’s Finance Minister said, “You will not go to the tax authority, and a tax officer will not visit you.”
15 digital transformation projects to be carried out at total value of more than EGP 43.5m
€425m to support Egyptian SMEs, mid-caps
Mona Zulfikar, Chairperson of the Egyptian Microfinance Federation said that the beneficiary base rose by 0.5% to 3.9 million customers in Q3 of 2020
President reviewed the most important productive activities to be established within the Suez Canal Economic Zone to localise industry
384 industrial complexes, 650 medium projects, and 2k small and micro enterprises will be established, providing 330k jobs: Minister Shaarawy
The funding was given to 11,179 beneficiaries, all of whom are small- and medium-sized enterprises (SMEs) working in the agricultural sector. A total of 1,295 guarantees amounting to about EGP 1.3bn has also been provided. The programme benefits 34 sectors across 22 governorates.
World faces at least three immediate challenges, namely supporting economic recovery, building back better, and combating climate change, says EBRD
Ongoing Egyptian-Italian cooperation portfolio amounts to about €73.6m distributed across many vital sectors
In a statement, the minister added that the agreement between the two banks comes as part of a larger agreement approved by the EIB worth€1.9bn, where €1.1bn will be provided for the transport sector and €800m for SMEs.
The research further established that about 40% of firms in Zambia were seeing a significant drop in revenues due to COVID-19 pandemic
The funding, which was provided between the project’s inception until the end of July, has helped provide 826,000 job opportunities for young people involved with these projects.
The event was attended by Minister of Public Enterprises Sector Hisham Tawfik, Minister of Trade and Industry Nevine Gamea, FEDCOC Head Ibrahim El-Arabi, and Chairperson and CEO of Benya Capital Ahmed Mekki.
In some countries, this percentage increased to as high as 50%, as government lockdowns and a global economic slowdown negatively impacted the companies around the world.
Gamea explained that the agency is keen to meet with governors and leaders of the authorities working in the SMEs sector.
NBE initiative will absorb large part of Egypt’s informal employment and reduce unemployment rates
Protocol aims to provide appropriate, encouraging financing climate for SMEs working in Egypt’s ICT sector, says Amr Talaat
Companies face decrease in labour-supply due to ongoing COVID-19 circumstances
At least 10% of digital projects to be awarded to SMEs under initiative, to achieve partnerships with small and emerging companies
The initiative aims to provide SMEs with services to implement business continuity measures as they face the repercussions of the ongoing health crisis.
Fayed also emphasised that Banque du Caire’s keenness to boost and diversify its foreign currency funding resources is directed at financing SMEs, which are a cornerstone in economic growth and sustainable development.
The move aims to bolster smaller companies and help them deal with the lower revenues crisis caused by the coronavirus (COVID-19) outbreak in Egypt.
MSMEDA given five years, administrative detention stopped
We hope to assist 200 projects through new Ismailia office, says Khalid Hamza
Both sides also discussed ways to enhance bilateral cooperation to increase Egyptian exports to the African market, as part of the Gosoor (Bridges) initiative, which aims to boost intra-trade between Egypt and other African countries. The initiative targets, in its first stage, 10 East African countries.
The bank’s bad loans do not exceed 4%