Egypt Bourse and American University Sign MoU to Support SMEs

The Egyptian stock Exchange (EGX) signed this morning a memorandum of understanding with School of Business Executive Education at the American University in Cairo (AUC). The agreement aims to raise the small and medium enterprises’ (SMEs) awareness about the funding crucial role played by the Egyptian bourse.

The agreement endorses bilateral cooperation in supporting and raising the awareness among the owners of the family businesses in Egypt. It stresses the EGX’s role in assisting the companies, notably the SMEs in achieving growth and developing their businesses.

From his part, Mohamed Omran – EGX Chairman highlights the bourse’s support for the SME sector, considering it an economic driving force and one of the major pillars of socio-economic development. The EGX is a pioneer in supporting the SME sector through establishing the first stock market, the Nile Stock Exchange or NILEX, whose target is to support and develop SMEs in Middle East and North Africa (MENA) region, he noted.

Established end of 2007, NILEX’s objectives include providing the SMEs with the required finance for growth and expansion so as to raise their competitiveness and offer more job opportunities.

AUC School of Business Executive Education was established in 1977 offering globally-recognized executive education in three areas: open enrollment programs, customized programs, and collaborative programs. These programs enable today’s business leaders to develop the strategic thought processes and skills necessary to successfully grow their business in today’s dynamic global marketplace.