Egypt’s MSMEDA funding grows in ’24

The agency’s funding increased by 27.5 per cent from January to October 2024, compared to the same period in 2023, with notable growth across the industrial, agricultural, and activity sectors. During this period, MSMEDA provided 5.3 billion Egyptian pounds in loans to 76.2 thousand projects, helping create and sustain 257.9 thousand jobs.

In addition, the agency connected 253 projects to commercial chains, generating 1 million Egyptian pounds in sales. The agency also trained 9,251 individuals in entrepreneurship and facilitated 273 business-to-business (B2B) deals worth 41 million Egyptian pounds.

The agency organised 120 internal exhibitions with 1,880 exhibitors, generating 196.9 million Egyptian pounds in sales. MSMEDA also participated in five international exhibitions, with sales totalling 14.5 million Egyptian pounds.

Furthermore, MSMEDA financed projects valued at 87.3 million Egyptian pounds, creating 294.5 thousand daily work opportunities and employing 2,133 young people. Of the supported projects, 51 per cent were led by men, while 49 per cent were led by women.

Attribution: Egyptian Cabinet

Subediting: M. S. Salama