EGP 2.6 M of loans offered to finance 297 projects in 13 governorates- minister

Fri, 31 Jul 2020 - 03:52 GMT

The main target of the Local Development Fund is to finance several projects to support the households and women in increasing their incomes, Shaarawi said.

Trade min.: Strategic partnership with EU aims at exchanging expertise, supporting MSEs

Wed, 22 Jul 2020 - 03:07 GMT

The project aims to qualify Egyptian Engineering companies to export by technology transfer, innovation or product adaptation so that they can better compete in European markets.

Economic experts laud CBE initiatives to support SMEs

Wed, 22 Jul 2020 - 01:41 GMT

Efforts should be exerted to create jobs for youth and reduce poverty, the experts said, praising initiatives of the Central Bank of Egypt (CBE) to support such projects.

Egypt launches digital transformation initiative for SMEs

Mon, 20 Jul 2020 - 12:28 GMT

Minister of Public Business Sector Hesham Tawfik, witnessed the launch of the "Digital Future" initiative by the General Federation of Chambers of Commerce.

Cabinet approves 2 decisions on developing SMEs, creating jobs for youths

Thu, 16 Jul 2020 - 01:29 GMT

On SMEs, the cabinet approved a $95 million financial agreement, signed on June 2, 2020 between the Egyptian government and the OPEC Fund for International Development, aimed at supporting the third phase of a project aiming at developing SMEs.

Trade minister unveils urgent plan to upgrade SMEs sector

Tue, 14 Jul 2020 - 03:23 GMT

The meetings also tackle the different investment opportunities in each governorate so that youth could benefit from them, she added.

CBE approves including SMEs in LE 100B initiative

Thu, 18 Jun 2020 - 01:55 GMT

The move is meant to help these businesses survive and achieve growth, through decreasing the borrowing cost on them.

Banque Misr, ITIDA sign cooperation protocol to ease financing SMEs in ICT sector

Fri, 12 Jun 2020 - 02:14 GMT

Banque Misr and The Information Technology Industry Development Agency (ITIDA) signed Friday a cooperation protocol to ease financing of small and medium-sized enterprises (SMEs) in the information and communications technology (ICT) sector.

Egypt offers NBK Egypt up to $100M loan to support SMEs

Sun, 07 Jun 2020 - 12:22 GMT

Al-Mashat noted that this loan is to address the economic impact of the coronavirus pandemic.

‘NilePreneurs’ launches initiative for digital transformation to help SMEs

Mon, 01 Jun 2020 - 01:54 GMT

NilePreneurs initiative CEO Heba Labib said the digital transformation for SMEs is a world tendency imposed by current conditions of coronavirus pandemic.

Nilepreneurs launches new initiative to boost SMEs exports via e-commerce

Tue, 05 May 2020 - 02:21 GMT

The program seeks to increase regional and global market reach via e-commerce by helping companies improve their products in terms of design and quality and develop new products suited to the needs of overseas markets, Farouk noted.

Egypt’s SMEs draft law exempts informal economy projects from stamp duty

Mon, 27 Apr 2020 - 03:17 GMT

The draft law included the exemption from documentation and a month fees for founding companies, establishments, credit facilities and mortgage contracts related to its business.

Debt installments of small businesses in Egypt to be postponed for 3 months

Mon, 30 Mar 2020 - 02:38 GMT

The duration can be prolonged, if needed.

Microfinance records 47% growth in 2019

Tue, 25 Feb 2020 - 04:18 GMT

Also, the number of beneficiaries grew by 11.8 percent.

Sisi highlights Africa’s challenges, needs in UK summit

Mon, 20 Jan 2020 - 11:02 GMT

President Abdel Fatah al-Sisi, who currently chairs the African Union (AU), and UK Prime Minister Boris Johnson inaugurated on Monday the UK-Africa Investment Summit 2020 in London.

SMEs contributes to Egyptian economy by 7%

Tue, 24 Dec 2019 - 03:44 GMT

Board member of the Micro, Small, and Medium Enterprise Development Authority emphasized the importance of issuing a law to enhance the sector's contribution.

Nigerian financial analyst: WYF shows Egypt is good listener to youths

Thu, 12 Dec 2019 - 09:47 GMT

This year, Akeyewaleis is preparing to participate in the third edition of the forum set to kick off on Dec.14 in Sharm el-Sheikh.

SMEs draft law includes simplified tax system, measures

Fri, 11 Oct 2019 - 08:02 GMT

The bill includes a simplified tax system for SMEs.

NBE’s credit portfolio hits LE64B in 2019

Sun, 08 Sep 2019 - 04:08 GMT

The bank is working to reach LE 100 billion by the end of 2020 to finance and prepare feasibility studies and technical studies for the sector of small and medium enterprises.

MSME provides funds of LE50B during 1991-2018

Sun, 08 Sep 2019 - 04:03 GMT

Salah clarified that small and medium enterprises allocated around LE 46 billion out of the total funds.