Egypt’s MSMEDA launches Khatwa Finance to boost SMEs
The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has established Khatwa Finance Company, holding a 40 per cent stake in partnership with E-Finance and Misr Insurance.
The company aims to expand financing for small and micro enterprises, particularly productive and industrial projects, in line with directives from President Abdel Fattah El Sisi.
Khatwa Finance will offer streamlined lending, providing financing within five days and leveraging digital payment solutions. It plans to open 12 branches nationwide, expanding to 70 within four years, to enhance accessibility and support entrepreneurs amid Egypt’s economic growth.
Attribution: Egyptian Cabinet
Subediting: M. S. Salama
