The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has successfully achieved significant milestones in 2024, including signing 41 contracts totaling EGP 900 million with a diverse range of companies and civil society organizations to fund microfinance projects. In a statement, Basil Rahmi, CEO of MSMEDA, highlighted that the agency aims to double this funding in 2025, with a stronger focus on supporting productive projects across Egypt.
Rahmi emphasized the agency’s commitment to expanding access to microfinance throughout all of Egypt’s governorates, with particular attention to underserved regions like Upper Egypt and the border areas. These efforts align with the national strategy to encourage self-employment and promote the establishment of micro-enterprises as a means to reduce unemployment and foster sustainable economic growth.
“We are dedicated to ensuring that microfinance services reach every corner of Egypt, especially in the less-developed areas,” Rahmi said. “Expanding access to financial resources in Upper Egypt and border regions is crucial for empowering individuals to start their own businesses and contribute to local economies.”
Additionally, MSMEDA has been actively fostering partnerships with various stakeholders, including private-sector financial institutions and banks, to further the state’s strategy of supporting micro-enterprises. Rahmi also emphasized the agency’s collaboration with civil society organizations (CSOs), which play a vital role in financing micro-projects. MSMEDA works with CSOs to provide financing for projects that range from as little as EGP 3,000 to up to EGP 242,000, depending on the specific needs of the projects.
One of MSMEDA’s key strategic goals is the empowerment of Egyptian women, with a focus on enhancing their role in the economy through self-employment and the establishment of stable, productive businesses. The agency offers training programs and professional services free of charge to help women develop the skills necessary to succeed in business. Rahmi pointed out that particular attention is being paid to supporting women’s productive and craft sectors, especially in rural and underserved areas such as Upper Egypt and the border governorates.
“We are committed to maximizing the role of Egyptian women in the economy by providing them with the resources, training, and opportunities to succeed as entrepreneurs,” Rahmi explained. “We focus on empowering women in villages and remote areas, where the need for economic development is most pressing.”
Rahmi also invited young people and aspiring entrepreneurs to visit MSMEDA’s offices across the country to learn more about available resources, including the facilities provided under the Project Development Law 152/2020. These resources, along with MSMEDA’s training and marketing services, are designed to help individuals establish, develop, and expand their micro-enterprises.
Nevine Badr El-Din, Head of the Central Sector for Microfinance at MSMEDA, provided additional insight into the agency’s achievements in 2024. She revealed that intermediary entities such as Banque Misr, Tanmia, Aman, Cash, and Al-Khair Microfinance, along with various civil society organizations, were instrumental in facilitating the contracts signed this year.
El-Din also shared key statistics for 2024: approximately 80,000 loans were disbursed, with 50% of the loans going to women and 35% to youth. Upper Egypt received 50% of the total funds allocated. Additionally, MSMEDA has launched targeted initiatives to support handicrafts and heritage industries through its specialized Crafts microfinance product, with plans to further expand financing for the productive and agricultural sectors in 2025. The agency is also working on creating new products specifically tailored to women, supporting green economy projects, and promoting the transition of informal businesses to the formal sector.
“The coming year will see a greater emphasis on financing for women, agriculture, and green economy projects,” El-Din said. “We are continuously adapting to the needs of the market and expanding our services to ensure that micro-entrepreneurs have the resources they need to succeed.”
Through these initiatives, MSMEDA is playing a pivotal role in fostering an inclusive and sustainable microfinance ecosystem, contributing to the economic empowerment of citizens across Egypt, especially in the most marginalized regions.
