Egypt’s MSMEs portfolio hit EGP 201.7bn in over 4 years: CBE
The Central Bank of Egypt (CBE) announced that loans and credit facilities provided to micro-, small-, and medium-sized enterprises (MSMEs) increased by 201.7 billion Egyptian pounds from December 2015 until last June.
More than 1.061 million MSMEs have benefited from the funding during the period, the CBE said in a report on Monday.
A total of 113,968 small-sized enterprises secured 111.4 billion pounds, while 7,984 medium-sized enterprises obtained 65 billion pounds.
In addition, 939,294 micro-sized enterprises received a total funding of 25.3 billion pounds from December 2015 to June 2020.
The services sector accounted for 36.5 percent of total funding with a value of 73.6 billion pounds, followed by the industrial sector with 33.3 percent or 67.1 billion pounds and the commercial sector with 19 percent or 38.3 billion pounds.
Enterprises in Cairo topped the list with a value of 63.4 billion pounds or 31.4 percent of total funding, followed by Giza and Alexandria with 31 billion pounds and 13.3 billion pounds, respectively.