The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) provided financial and non-financial services to 302,000 projects in the past 18 months, with a total value of EGP 8.9bn, according to its CEO Basil Rahmi.
Rahmi said that the agency financed 222,000 projects in 2022 with EGP 6.8bn, creating 370,000 jobs. In the first half of 2023, the agency financed 80,000 projects with EGP 2.1bn, creating 117,000 jobs.
Rahmi reviewed the agency’s achievements during a meeting held by Prime Minister Mostafa Madbouly at the government headquarters in New Alamein on Sunday evening.
He said that the agency also provided non-financial services to the projects, such as registering them in the suppliers’ register, networking them in commercial chains, training them in entrepreneurship, integrating them in business-to-business deals, assisting them in obtaining tax cards, commercial records, licenses, and certificates, and organizing local and international exhibitions for them.
He said that the agency helped 2,900 projects register in the suppliers’ register in 2022, with a total value of tenders of EGP 178m. In the first half of 2023, the agency helped 1,600 projects register in the suppliers’ register, with a total value of tenders of EGP 80m.
He said that the agency networked 260 projects in commercial chains in 2022, with sales of EGP 6m. In the first half of 2023, the agency networked 120 projects in commercial chains, with sales of EGP 2m.
He said that the agency trained 8,200 people in entrepreneurship in 2022. In the first half of 2023, the agency trained 5,000 people in entrepreneurship.
He said that the agency made B2B integration deals between 240 projects in 2022, with a value of EGP 29m. In the first half of 2023, the agency made B2B integration deals between 124 projects, with a value of EGP 10m.
He said that the agency helped enterprises obtain 3,800 tax cards, 500 commercial records, 13,000 temporary licenses, and 30,000 classification certificates in 2022. In the first half of 2023, the agency helped enterprises obtain 2,000 tax cards, 350 commercial records, 7,000 temporary licenses, and 9,200 classification certificates.
He said that the agency organized 140 local exhibitions and seven international exhibitions in 2022. The local exhibitions had 3,900 exhibitors and generated sales and contracts worth EGP 270m. The international exhibitions had 52 exhibitors and generated sales and contracts worth EGP 20m. The agency also organized “Torathna” (Our Heritage) exhibition in 2022 and generated sales worth EGP 120m for more than 1,100 exhibitors.
He said that the agency organized 94 local exhibitions and three international exhibitions in the first half of 2023. The local exhibitions had 1,600 exhibitors and generated sales and contracts worth EGP 120m. The international exhibitions had 22 exhibitors and generated sales and contracts worth EGP 3m. The agency also financed projects worth EGP 86m, providing 1, 800 job opportunities and employing 580 young men and women.
Rahmi also outlined the agency’s future directions for the 2023-2027 period. He said that the agency would focus on developing the national strategy for micro, small and medium enterprises and entrepreneurship, activating the Small, Medium, and Micro Enterprises Development Law No. 152 of 2020, and supporting the digital transformation through the national platform for medium, small and micro enterprises.
According to MSMEDA’s CEO, the agency will support startups and innovative projects through financial and non-financial services, as well as facilitate procedures for establishing companies to rationalize imports and increase exports in cooperation with the Sovereign Fund of Egypt. It will also focus on expanding local and international exhibitions to promote investment opportunities, develop a strategy for effective communication, and move towards financial inclusion and green economy projects.
