The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) and Aman Microfinance signed two contracts worth EGP 160m. The first contract is for EGP 100m to finance all target groups in all governorates under the microfinance project. The second contract is for EGP 60m to support women’s micro-enterprises in all governorates.
The contracts were signed by Nevine Badr El Din, the Head of the Central Microfinance Sector at MSMEDA; Hazem Moghazi, the CEO of Business and Commercial Affairs at Aman Holding; and Ayman Bassiouni, the CEO and Managing Director of Aman Project Finance.
Basil Rahmi, the CEO of MSMEDA, said that the signing of these contracts is the start of implementing the agency’s work plans for 2024, following the state’s directions to expand financing for micro-enterprises and contract with more companies specialized in this financing. He said that this would improve accessibility for all citizens, especially women in rural and other governorates, with a focus on Upper Egypt and the border areas. He said that this would help them start new projects or develop their existing ones, which would improve their living standards.
Rahmi said that these contracts would finance about 6,400 clients in all governorates who work in various commercial, service, and agricultural sectors, with a focus on productive and industrial projects because they can meet the needs of local markets and reduce imports.
Moghazi said that this cooperation shows Aman’s commitment to supporting innovation in the local economy. He said that the company hopes to continue cooperating with the agency in the future, with the ultimate goal of increasing the success of small projects in more governorates.
He said that this achievement enables the company to strengthen its role in growth and job creation in Egypt. He also said that the company is keen on supporting entrepreneurs and helping them achieve their goals in the field of small projects. Moghazi said that the company’s success in providing large financing amounts in the Egyptian market in the past period reflects the support for small and medium enterprises and economic infrastructure in Egypt.
