Egypt’s MSME funding grows 4.2% in Q2 – FRA 

Egypt’s funding for micro, small, and medium-sized enterprises (MSMEs) surged 4.2 per cent to 782.0 million Egyptian pounds in the second quarter of 2024, benefiting nearly 18,166 businesses. This marks a significant increase from the previous year’s 750.6 million pounds and 12,886 businesses.

Medium and small enterprises received 1.1 million pounds in funding, supporting 1,860 businesses. This is up from 1.0 million pounds and 1,022 businesses in the same period last year.

In total, 783.0 million pounds were allocated to MSMEs in the second quarter, reaching over 20,026 businesses. This compares to 751.6 million pounds and 13,908 businesses in the second quarter of 2023.

Attribution: FRA Q2 report

Subediting: Y.Yasser