Egypt govt. reviews MSMEDA’s financial sustainability

Egypt’s Prime Minister Mostafa Madbouly held a meeting on Tuesday to review the financial sustainability of the Medium, Small, and Micro Enterprise Development Agency (MSMEDA) to ensure its continued operations while maintaining financial independence.

During the meeting, MSMEDA CEO Basel Rahmy highlighted the agency’s role in financing projects and job creation, noting that grants and funding agreements with international institutions have generated 817,000 jobs. He also outlined cooperation with the Ministry of Finance on initiatives supporting exports, economic empowerment, and small businesses under the Hayah Karima (Decent Life) initiative.

Rahmy added that MSMEDA is working with international institutions to develop a 2025–2031 roadmap aimed at strengthening its capital base, balancing financing activities, diversifying funding, and managing financial risks. He stressed that ensuring sustainability would reduce reliance on government support and external funding.

The agency is prioritising Upper Egypt to bridge development gaps and expanding support for startups, with plans to attract investment and create 140,000 jobs over the next five years.

Attribution: Amwal Al Ghad English
Subediting: M. S. Salama