Egypt: MSMEDA offers $35mln in finance to 222k projects in 2022

  • Date: 30-Jan-2023
  • Source: Zawya
  • Sector:Technology
  • Country:Egypt
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Egypt: MSMEDA offers $35mln in finance to 222k projects in 2022

Bassel Rahmy, CEO of the Micro, Small and Medium Enterprises Development Agency (MSMEDA), revealed that the agency provided a total financing of EGP 6.8bn to small and micro enterprises in 2022.

The finance contributed to the establishment and expansion of about 222,000 projects, and providing more than 367,000 jobs. The agency also financed infrastructure, community development and training projects with about EGP 318m, and provided 2 million workers.

Rahmy met with Prime Minister Mostafa Madbouly last week to follow up on a number of the agency’s work files, and dealt with the results of the agency’s work during the last period.

With regard to the financial services provided by the agency, he indicated that the one-stop-shop services that were provided during the year 2022 included the issuance of 5,573 final licenses for new projects, and 2,803 final licenses to reconcile the situation, while it issued 7,390 temporary licenses for new projects, and 5,205 temporary licenses to reconcile the situation. It also issued 529 commercial registers, 3,822 tax cards, and provided social insurance for 2,589 people, in addition to providing benefits certificates to the customer, as well as project classification certificates.

Rahmy added that the agency contributes to linking various projects and various marketing channels