Egypt c.bank-backed BDS Hubs reach half a million entrepreneurs

The Central Bank of Egypt (CBE) said on Wednesday that it had reached more than half a million entrepreneurs and small business owners through its nationwide Business Development Service (BDS) Hubs.

The 132 hubs, part of the NilePreneurs Initiative and spread across 25 governorates, have delivered more than 1.16 million non-financial and advisory services since 2020.

These services benefited approximately 502,000 youth, entrepreneurs, startups, and micro, small, and medium-sized enterprises (MSMEs) – out of which 210,000 are women.  In addition, the hubs helped facilitate 19 billion Egyptian pounds in financing for more than 14,000 projects, with the participation of 18 banks.

Services are offered free of charge and include selecting viable business ideas, preparing feasibility studies, completing company registration, and licensing, compiling credit files, and providing financial literacy and business training. Hubs also connect entrepreneurs with suppliers and new market opportunities.

Between 2020 and 2025, the programme recorded average annual growth of 135 per cent in services delivered and 125 per cent in beneficiaries, reflecting rising demand and a widening geographic reach.

The initiative is part of the central bank’s strategy to promote financial inclusion, integrate informal businesses into the formal economy, and support Egypt’s Vision 2030 development agenda, with a focus on youth and women-led enterprises.

Attribution: Amwal Al Ghad English