PM reviews MSMEDA strategy and performance, urges broader support for entrepreneurs, exporters
At the outset, Madbouly underscored the pivotal role of MSMEDA in driving growth across multiple sectors, nurturing entrepreneurship and innovation, and supporting the competitiveness of Egyptian products. He stressed the need to sustain the agency's financial strength and to advance its work in line with an integrated strategic vision.
Al-Mashat outlined the ministry's coordination efforts with international financial institutions to reinforce MSMEDA's activities, while highlighting the importance of aligning the agency's exhibition initiatives with similar efforts led by other organisations to maximise impact.
For his part, the Minister of Finance emphasised the importance of modernising MSMEDA's operational model to boost efficiency and extend its reach. He called for expanding partnerships with international donors to launch new programmes and initiatives, especially those centred on entrepreneurship and export support.
He proposed a dedicated initiative to help exporters, which could in turn increase Egypt's export volumes and strengthen the market presence of companies with established brands.
Presenting MSMEDA's recent efforts, Basel Rahmy detailed measures taken in collaboration with relevant institutions to safeguard the agency's financial sustainability. He pointed to MSMEDA's contribution in supporting traditional and heritage crafts, providing marketing consultancy for exports, and drawing on global best practices.
Rahmy also highlighted institutional development steps adopted since early 2023, which have focused on improving spending efficiency by rationalising costs and boosting revenue.
Regarding performance indicators, Rahmy reported that direct lending accounted for 21% of MSMEDA-financed projects in 2025, up from 11% in 2024. Financing for medium-sized projects rose sharply to 11% in 2025, compared to 3% in 2024 and just 0.2% in 2023—leading to more job creation and greater export potential.
The share of financing channelled to productive sectors—including industry, agriculture, and livestock—climbed to 24% in 2025, up from 16% the previous year. Moreover, Upper Egypt continued to receive priority, with 55% of the agency's total financing directed there.
Rahmy also discussed preparations for the upcoming seventh edition of the 'Torathna' (Our Heritage) exhibition, set to launch in early October, which expects around 1,200 exhibitors. Notably, at least 30% will be new participants, with representation balanced across all governorates. The exhibition also aims to increase the participation of women and projects newly integrated into the formal sector, while promoting financial inclusion.
Reflecting on the 2024 edition, Rahmy noted it featured 385 exhibitors from civil society organisations, 141 exhibitors from people with disabilities, and 331 individual participants. Women represented 74% of exhibitors, and the event attracted over 150,000 visitors.
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‘The Africa we want is not just a dream' - Egypt - Al-Ahram Weekly
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A second reason is the fact that West Africa is intertwined with the Sahel and Sahara, an area facing security challenges, given that both the Islamic State (IS) group and Al-Qaeda are actively present there. 'The stability of this area is directly linked to Egypt's national security,' Kurani said. Thirdly, the choice of countries included Nigeria, one of the most important economic and political powers in West Africa, Senegal, which has deep cultural and economic ties with the other West African countries, and the three Sahel states of Mali, Burkina Faso, and Niger, which are facing growing challenges in the fight against terrorism. Chad, along with Egypt, is working on establishing a road network that will link the two countries together with Libya. The two countries are cooperating on the economic and security levels to combat terrorism in the Sahel and Sahara. Egypt and Chad host the largest number of Sudanese refugees from the conflict in Sudan. Abdelatty delivered a written message from President Abdel-Fattah Al-Sisi to the heads of state he visited, reaffirming Egypt's close relations with each and with the continent as a whole. On the economic level, 30 business leaders and representatives of Egyptian companies accompanied Abdelatty on his tour. Kurani noted that this was new in Egypt's diplomacy with the African countries. He explained that while historical and cultural relations between Egypt and the African states are rich, this has not always been reflected in economic cooperation. 'The African states can benefit from cooperation with Egypt in infrastructure, energy, medicine, and education. This is win-win cooperation as the Egyptian economy would also benefit,' Kurani said. The African states, he added, have taken positive steps to attract foreign investors. The economic delegation that accompanied Abdelatty's tour had explored opportunities for Egyptian investors to enter the markets of these states, he said. He said that one of the factors that will make Egyptian investment welcome in these countries is the fact that Egypt does not have a history of occupation of any African state. 'The activation of economic diplomacy goes hand in hand with political diplomacy, which will benefit Egypt as well as the African states,' Kurani said. On the societal level, Kurani explained, the six countries included in the tour can be described as Western Islamic states or part of the Western Islamic belt of Africa. Egypt's cultural relations with these countries are strong and boosting these and enhancing Egypt's soft power there is important, he said. The community of Egyptian expats, businesses, and Al-Azhar scholars can play an influential role in enhancing ties. 'When the Arab Contractors Company, for instance, initiates a project in an African state, it usually establishes a health centre, a mosque, or an education centre as well. After completing the project, they leave these establishments as a gift to the state,' he said. Egypt's investment in these countries amounts to $2 billion, 'but our soft power also guarantees an effective Egyptian presence in these countries,' Kurani noted. The Egyptian Agency of Partnership for Development (EAPD) is very active in most of these countries. It supports Africa's developmental aspirations through capacity-building assistance, the transfer of knowledge, skills, and expertise, and the promotion of the creative industries. Meanwhile, Kurani said that Egypt will no longer be deceived by statements on the Grand Ethiopian Renaissance Dam (GERD) being built on the Upper Nile by Ethiopia. 'Today, the GERD is complete. The main issue now is not the dam itself, but the technicalities of its future operation,' he said. If Ethiopia wants a genuine solution to differences on the dam, it must have the political will to enter negotiations. There should also be legally binding regulations for all the involved parties. US President Donald Trump's statements last week aimed to affect Egypt's position on other important issues, namely Gaza and the displacement of the Palestinians, a move which Egypt has repeatedly and categorically rejected. His statements aimed at either acknowledging the righteousness of Egypt's stand on the GERD, Kurani said, or were an attempt to convince the world that he deserves a Nobel Prize. He added that Ethiopian Prime Minister Abiy Ahmed had been provocative when he invited both Egypt and Sudan to the inauguration of the GERD in September. 'The inauguration is part of a political propaganda campaign by the Prosperity Party, Ahmed's ruling party, that uses the dam as a political project to distract attention from internal and border problems.' However, Kurani expressed optimism that the restart of the negotiations may bear fruit, noting that the present negotiating environment is different from that of 2019-2020. The internal problems Ethiopia faces today, together with recent developments in Sudan, may pave the way for better outcomes, he said. 'I am not saying that we will easily get concessions from Ethiopia, but the current environment will help maintain Egypt's water security. The positive point is that Ethiopia or any other African state will think twice before causing any harm to Egypt's water security,' he said. Regarding Egypt's role in promoting the Agenda 2063 aimed at achieving an integrated, prosperous, and peaceful Africa driven by its citizens, Kurani noted that Egypt has, since 2014, worked to boost its diplomacy across Africa. Studies show that 30 per cent of President Al-Sisi's external tours have been to African states. During Al-Sisi's address to the African Union's (AU) Seventh Mid-Year Coordination Meeting held in Malabo, Equatorial Guinea, earlier this month, he called on all African countries to work collectively to overcome challenges, stating that 'the Africa we want is not a dream but a near reality.' 'Such a slogan is very important for political, cultural, and strategic détente among the African states,' Kurani said. Agenda 2063 has various targets, mainly the integration and development of the continent. With that in mind, Egypt is working on multiple areas, including improving infrastructure across the African states and establishing a free-trade zone. It is advancing these goals through two important centres: the Cairo International Centre for Conflict Resolution, Peacekeeping, and Peacebuilding and the African Union Sahel and Sahara Counter-Terrorism Centre. These centres, together with the EAPD, play key roles in supporting development according to the Agenda 2063 framework. * A version of this article appears in print in the 6 August, 2025 edition of Al-Ahram Weekly Follow us on: Facebook Instagram Whatsapp Short link:
Al-Ahram Weekly
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El-Sisi commends UK stance on Palestinian statehood in phone call with Starmer - Foreign Affairs
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Al-Ahram Weekly
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These are placed in the first diplomatic pouch and sent to the Ministry of Foreign Affairs, which forwards them to the central committee responsible for overseas voting. The committee then compiles a final report and integrates the results into the overall national count. Campaigning timeline According to the NEA, a total of 428 candidates are competing for the 100 individual seats in the Senate. These include 186 independent candidates and 242 affiliated with political parties, according to the final candidate lists approved by the NEA. The final candidate list was confirmed on 18 July, which also marked the beginning of the official campaign period. The deadline for candidates to withdraw was 20 July. The electoral silence period begins on Thursday 31 July. Once voting concludes, the results will be announced on Tuesday 12 August in the official gazette and in the state-owned newspapers Akhbar Al-Youm and Al-Gomhuria newspapers. 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Other participating parties in the list, such as the People's Republican Party, Egyptian Democratic Party, Reform and Development Party, Justice Party, Wafd Party, Tagammu Party, Generation's Will Party, Freedom Party, and the Congress Party, are each represented by five candidates or fewer. The Mostaqbal Watan-led NUL includes high-profile businessman and construction magnate Mohamed Al-Morshedi, the deputy chairman of the Party. It also includes iron and steel business tycoon Ahmed Abu Hashima, deputy chairman of the People's Republican Party, and the Wafd Party's Deputy Chairman Tarek Abdel-Aziz. Meanwhile, Abdel-Wahab Abdel-Razek, who served as speaker of the outgoing 2020–2025 Senate and is chairman of Mostaqbal Watan, has opted not to run in this election. In terms of electoral geography, Egypt remains divided into 27 districts for individual candidacy contests. The party list system covers four nationwide districts: Cairo and South and Middle Delta, and North, Middle, and South Upper Egypt—each allocated 37 seats—alongside East Delta and West Delta, which are allocated 13 seats each. This district structure remains the same as in the 2020 Senate elections. According to Senate law, if only one individual candidate or a single party list is running in a district, they must obtain at least 5 percent of the votes from registered voters in that district to be declared the winner; otherwise, the candidacy process is reopened. The Senate The Senate was re-established following constitutional amendments passed in April 2019. Under the amended constitution, the Senate holds purely advisory powers. It is mandated to discuss draft laws, the state's socio-economic development plans, foreign treaties, and general public policy matters. However, the final decision-making authority on these issues rests exclusively with the House of Representatives, Egypt's lower house of parliament. The chamber will consist of 300 members: one-third elected through the individual candidacy system, one-third through closed party lists, and one-third appointed by the president of the republic. In accordance with the Senate law, at least 10 percent of the seats must be allocated to women. Senate members serve a five-year term. Follow us on: Facebook Instagram Whatsapp Short link:
