Latest in Tag: SMEs Highlight
Latest in Tag: SMEs
Prime Minister witnesses launch of ‘Tamayuz’ index to measure SMEs market performance
EJB announces African Junior Business Initiative during IPAs Africa Forum
Decision taken to oblige exporting companies to contract with registered sponsors for structuring process, develop investor relation capabilities
These companies include Waqty, Amwal, and Tal2a, with payments possible through more than 15,000 service outlets available across the country belonging to these companies.
Vehicle owners can pay for conversion in instalments over 1-5 years
Trade Minister Nevine Gamea invites SME owners to obtain project classification certificate to enjoy benefits, incentives of new law
Training programmes developed based on market needs, it is planned that 600 job opportunities would be provided for youth after completing training
Bank’s SMEs portfolio reaches EGP 2bn, retail banking records EGP 1.2bn in 2020, says Chairperson Hussein Refaey
Country provides 623,500 loans for small, micro projects from July 2014 to late 2020
EU-funded projects were implemented under agreement of addressing root causes of irregular migration
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