Egypt’s MSMEDA, EGX sign pact to widen SME access to capital markets

Egypt’s Micro, Small, and Medium Enterprise Development Agency (MSMEDA) and the Egyptian Exchange (EGX) signed a cooperation protocol on Wednesday to help smaller businesses access capital markets and other non-bank financing tools.

The agreement was signed on the sidelines of events marking International MSME Day and is aimed at widening access to financing channels for small and medium-sized enterprises, which the government sees as a key driver of growth and job creation.

Under the protocol, MSMEDA and EGX will launch a joint programme of training and awareness initiatives designed to help companies improve their financial readiness, understand listing requirements and benefit from non-traditional financing channels.

MSMEDA Chief Executive Basel Rahmy said the cooperation would focus on preparing promising companies for listing on the EGX and enabling them to access new funding sources beyond traditional bank lending.

Rahmy added that, for the first time, MSMEDA has become an accredited sponsor and listing agent for small and medium-sized companies seeking to join the exchange, enabling it to provide technical and financial support throughout the listing process.

He said the agency would continue working with EGX to promote financial literacy, simplify listing procedures, and support sustainable growth among smaller enterprises.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser