The NilePreneurs Initiative, affiliated to the Central Bank of Egypt, has announced that its Business Development Services (BDS) Hubs offered about EGP 3.85bn in finance to more than 4,830 start-ups and small projects in 2022, an increase of EGP 2bn (111%).
Ahmed Hosni, Director of the BDS Hubs at NilePreneurs, said that last year witnessed a breakthrough in supporting micro, small, and medium enterprises, start-ups, innovators, and entrepreneurs through a diversified package of services.
Non-financial services provided by BDS Hubs, starting with crystallizing project ideas, assisting in preparing feasibility studies, facilitating obtaining licenses and financing, as well as networking with investors and other services.
Hosni added that the BDS Hubs provided about 146,000 various services that reflected the actual needs of the target groups of youth and business owners, compared to 66,000 services in 2021, with a growth rate of 121%, bringing the total services provided by the business development centers and units since Its launch in July 2019 until the end of December 2022 provided about 254,000 services.
He pointed out that the business development services centers and units of the NilePreneurs initiative also succeeded in attracting a new segment of target customers in 2022. Beneficiaries recorded 58,000, compared to 33,000 in 2021, with a growth rate of 76%. This brings the total number of those who benefited from the services of the centers and units since its launch to more than 100,000 clients, 30% of whom are women.
Hosni explained that these results were achieved in conjunction with the implementation of an expansion plan targeted by the 14 banks participating in the initiative, which added more than 36 centers and units to their headquarters in 2022, bringing the total to about 70.
Hosni indicated that banks, in cooperation with the Egyptian Banking Institute, have qualified about 60 specialists from bank workers in 2022. This brings the total number of specialists qualified in banks to provide non-financial services within the framework of NilePreneurs initiative to about 177 specialists.
Moreover, 14 specialists in the Ministry of Youth and Sports were qualified, which has become A strategic partner in expanding the provision of non-financial services to young people, bringing the total number of qualified youth centers to about 45 specialists.
Hosni said that these centers have strengthened their role in spreading financial and banking awareness and education, whether through seminars and meetings with owners of small, medium and startup projects and entrepreneurs, and also within the framework of the Decent Life Initiative, and through awareness platforms, including the “I understand Business” platform and the website of business development services centers. , which provided more than 90 feasibility studies in various fields.
He pointed out that the expansion of BDS Hubs included more than 23 governorates with the aim of helping youth, entrepreneurs, and project owners.
NilePreneurs revealed a plan to expand the deployment of business development services centers and units in the participating banks to reach the largest number of beneficiaries.
