320K female-owned micro businesses acquire funding worth LE2.6B in Egypt

CAIRO – 18 April 2022: The Ministry of Social Solidarity indicated Monday that it had funded 320,000 micro businesses owned by women with LE2.6 billion in the form of grants that are not paid back.

Further, the Egyptian municipal authorities provided loans worth LE2.2 billion to 12,4000 micro businesses in FY2021/2022, creating 123,000 job opportunities.

That is through a programme dubbed "Mashrouak" (Your Project), which has funded until present, 190,000 micro businesses at LE22.6 billion securing employment for 1.4 million individuals.

A press statement, issued by the Ministry of Local Development earlier in April, indicated the top five governorates that received funds through the programme.

Menya comes first with 22,000 businesses at LE2.6 billion, offering 137,000 jobs. It is followed by Sohag with 21,000 businesses at LE2.6 billion, offering 124,000 jobs. Then comes Beheira with 19,000 businesses at LE1.6 billion, offering 93,000 jobs. Daqahliyah comes next with 17,000 businesses at LE1.8 billion, offering 93,000 jobs. Finally comes Sharqia with 16,000 businesses at LE2,4 billion, offering 121,000 jobs.

The statement pointed out that the introduction of Mashrouak programme in governorates is taking place in tandem with the implementation of Decent Life initiative, which targets 4,600 villages located at 20 governorates.

The ones belonging to Upper Egypt are Fayoum, Beni Suef, Menya, Sohag, Asyut, Qena, Luxor, Aswan, and New Valley; while those of Delta are Giza, Qalyoubeya, Damietta, Beheira, Daqahliyah, Menoufeya, Gharbia, Sharqia, Kafr El Sheikh, Alexandria, and Ismailiyah.

The ministry also noted that municipal authorities are doing their best to facilitate the issuance of licenses for handicraft complexes, and shops. The ministry added that citizens at those villages also get temporary jobs at the construction works carried out to introduce different utilities and facilities. That is through a programme called "Your Work Is At Your Village." Further, rural villages are being modernized to create better work conditions.  

Minister of Local Development Mahmoud Shaarawy had stated in 2021 that 52,000 temporary jobs were created for villagers working in the ongoing construction and infrastructure works in their respective villages.

The ministry pointed out that municipal workers assigned to work in "Mashrouak" have been trained to operate within "The One-Window" system while serving citizens applying on loans and licenses to start their own businesses.

"Mashrouak" currently has 260 headquarters nationwide, and collaborates with six national banks to secure funding for citizens.