Egypt’s MSMEDA, TE partner to boost SMEs

By Aya El Sayed On Jun 25, 2024

Basil Rahmy, MSMEDA's CEO, and Mohamed Nasr, Managing Director and CEO of Telecom Egypt Company during the signing. Credit: the Egyptian Cabinet.

The Egyptian Micro, Small, and Medium Enterprises Development Agency (MSMEDA) and Telecom Egypt (TE) have signed a memorandum of understanding (MoU) aimed at supporting projects, entrepreneurs, and startups.

This collaboration includes offering specialised packages for mobile phone lines and fixed-line internet services, and encourage SME owners to integrate into the formal economy. The initiative seeks to enhance their competitiveness in both local and global markets, aligning with modern technological advancements.

By aligning with modern technological advancements, the initiative aims to empower SMEs to compete effectively in both local and global markets. Telecom Egypt will develop customized telecom solutions tailored to MSMEDA’s objectives under the MoU.The partnership will also modernize MSMEDA’s information and communication technology (ICT) systems, improving their ability to connect with and support programme beneficiaries. This, in turn, is expected to create more opportunities for Egyptian entrepreneurs and business owners.