Nevine Gamea, executive director of the Micro, Small, and Medium Enterprises Development Authority (MSMEDA), said that Egypt is implementing an ambitious strategy under the auspices of President Al-Sisi to develop the small and micro enterprises sector to fight unemployment and contribute to achieving sustainable development in the framework of Egypt Vision 2030.
Gamea’s remarks came during her speech at the inaugural session of the Financing SMEs and Strat-ups Forum, held on 28-29 October in Jordan under the auspices of Ziad Fariz, governor of the Central Bank of Jordan, in the presence of representatives of different international organisations and Arab banking sectors.
She explained in her speech that the strategic axes of the MSMEDA are to provide the suitable legislative and regulatory environment for small businesses, as well as facilitate access to finance, in cooperation with development partners at the national and international levels.
According to Gamea, during the past two years, the MSMEDA has funded about 545,000 small and micro enterprises, which created about 850,000 jobs, either directly through the authority’s branches across Egypt or indirectly through banks and NGOs.
