CAIRO - 2 December 2024: The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) announced that in 2024 it disbursed loans totaling EGP 5.3 billion Egyptian to 76,200 MSMEs. This substantial financial injection has not only stimulated economic activity but also created and sustained 257,900 job opportunities, contributing to social and economic development.
Beyond financial support, MSMEDA has been actively promoting entrepreneurship and innovation through various initiatives. The agency has provided entrepreneurship training to 9,251 individuals, empowering them to start and grow their businesses. Additionally, MSMEDA has facilitated 273 business-to-business deals worth EGP 41 million, fostering partnerships and expanding market opportunities for MSMEs.
To further support the growth of MSMEs, MSMEDA has organized numerous exhibitions, both domestically and internationally. These events have provided a platform for MSMEs to showcase their products and services, connect with potential buyers, and expand their customer base. The Our Heritage (Turathna) exhibition has been a significant success, generating EGP 428.8 million in sales for 4,886 exhibitors over the past five years.
MSMEDA's strategic collaborations with various ministries and international organizations are further enhancing its impact. By working closely with the Ministry of Finance, Ministry of Local Development, Ministry of Planning and Economic Development, and the OECD, MSMEDA is leveraging expertise and resources to create a conducive environment for MSME growth.
In conclusion, MSMEDA's comprehensive approach, encompassing financial support, capacity building, market access, and strategic partnerships, is making a substantial contribution to Egypt's economic development. By empowering MSMEs, the agency is driving job creation, boosting innovation, and fostering economic growth.
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