Egypt’s MSME funding surges, benefiting male, female entrepreneurs in Q2 ’24 – FRA
Egypt reported a significant increase in both the number of beneficiaries and the funding provided to micro, small and medium enterprises (MSMEs), with female entrepreneurs experiencing substantial growth during the second quarter of 2024.
Male Beneficiaries:
At the end of the second quarter of 2024, financing balances for male clients reached approximately 29.9 billion Egyptian pounds, benefiting around 1.63 million individuals. This represents an increase from the second quarter of 2023, when the financing balances were about 22.5 billion Egyptian pounds for approximately 1.6 million beneficiaries. In terms of market share, male financing balances ranked first with a share of 53.2 per cent, while the number of male beneficiaries ranked second at 43.2 per cent.
Female Beneficiaries:
In contrast, financing balances for female clients stood at around 26.3 billion Egyptian pounds by the end of the second quarter of 2024, serving approximately 2.2 million beneficiaries. This compares to the second quarter of 2023 when balances were about 19.7 billion Egyptian pounds for around 2.3 million beneficiaries. The market share for female financing balances was second at 46.8 per cent, whereas the number of female beneficiaries ranked first with a share of 56.7 per cent.
Subediting: Y.Yasser
