
Tally MSME Honours Marks the Fifth Year of Championing MSME Innovation and Growth - Middle East Business News and Information
Tally Solutions , a leading international technology provider of business management software, has announced the launch of the fifth edition of its flagship annual initiative- Tally MSME Honours. Building on the momentum of four successful years, MSME Honours continues to recognize and celebrate emerging entrepreneurs who are shaping the future of UAE's MSME ecosystem through innovation, resilience, and impact.
Over the last four editions, Tally MSME Honours' has received over 27,000 nominations with over 1500 entries from businesses in the Middle East, making it one of the biggest platforms globally to celebrate MSMEs. This year, Tally expects a record-breaking 20,000 nominations, of which 10% from the Middle East. The winners will be felicitated on International MSME Day—June 27, 2025. The honours will also spotlight MSME success stories from across the KSA, India, Bangladesh, Nepal and Africa.
Addressing this initiative, Vikas Panchal, General Manager, Tally Solutions MENA, said 'As we open nominations for the fifth edition in the UAE, we are proud to continue a journey that goes far beyond recognition. Tally MSME Honours has become a platform that uplifts real stories of resilience and everyday impact; stories that too often go unheard. Across the region, MSMEs are driving business success while shaping communities with their efforts – creating jobs, and redefining possibilities. With this edition, we look forward to celebrating those who lead with purpose and contribute meaningfully to the UAE's economic and social fabric. This initiative is our effort to align with the UAE government's ongoing vision to empower and recognize MSMEs as vital engines of innovation, employment, and sustainable growth.'
With a focus on lasting impact, Tally MSME Honours goes beyond recognition to elevate and empower entrepreneurial voices. The initiative offers continued opportunities for growth and visibility, with past winners becoming part of a thriving community of changemakers. Through industry panels, business forums, and ecosystem events, they gain a platform to share their journeys, strengthen partnerships, and drive sustained impact.
Tally MSME Honours 2025 will feature the following award categories: Wonder Women: Honouring women entrepreneurs who have defied odds to build thriving businesses and inspire change.
Honouring women entrepreneurs who have defied odds to build thriving businesses and inspire change. Business Maestro: Recognising experienced business leaders whose expertise and perseverance have laid strong foundations for others to follow.
Recognising experienced business leaders whose expertise and perseverance have laid strong foundations for others to follow. NewGen Icon: Spotlighting startups that are redefining the business landscape with bold ideas and breakthrough innovations.
Spotlighting startups that are redefining the business landscape with bold ideas and breakthrough innovations. Tech Transformer: Celebrating businesses that are leveraging technology to boost efficiency and drive digital transformation.
Celebrating businesses that are leveraging technology to boost efficiency and drive digital transformation. e-Preneur Icon: Rising solopreneurs based out of UAE that are homegrown and creatively deliver to clients.
The nomination entries will be judged by an esteemed panel comprising experts from the field of technology, the MSME domain, and the media. With a focus on inclusivity, the program aims to bring visibility to entrepreneurs from every corner of the UAE, across emirates, sectors, and stages of business maturity.
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Mid East Info
2 days ago
- Mid East Info
Tally MSME Honours Marks the Fifth Year of Championing MSME Innovation and Growth - Middle East Business News and Information
Tally Solutions , a leading international technology provider of business management software, has announced the launch of the fifth edition of its flagship annual initiative- Tally MSME Honours. Building on the momentum of four successful years, MSME Honours continues to recognize and celebrate emerging entrepreneurs who are shaping the future of UAE's MSME ecosystem through innovation, resilience, and impact. Over the last four editions, Tally MSME Honours' has received over 27,000 nominations with over 1500 entries from businesses in the Middle East, making it one of the biggest platforms globally to celebrate MSMEs. This year, Tally expects a record-breaking 20,000 nominations, of which 10% from the Middle East. The winners will be felicitated on International MSME Day—June 27, 2025. The honours will also spotlight MSME success stories from across the KSA, India, Bangladesh, Nepal and Africa. Addressing this initiative, Vikas Panchal, General Manager, Tally Solutions MENA, said 'As we open nominations for the fifth edition in the UAE, we are proud to continue a journey that goes far beyond recognition. Tally MSME Honours has become a platform that uplifts real stories of resilience and everyday impact; stories that too often go unheard. Across the region, MSMEs are driving business success while shaping communities with their efforts – creating jobs, and redefining possibilities. With this edition, we look forward to celebrating those who lead with purpose and contribute meaningfully to the UAE's economic and social fabric. This initiative is our effort to align with the UAE government's ongoing vision to empower and recognize MSMEs as vital engines of innovation, employment, and sustainable growth.' With a focus on lasting impact, Tally MSME Honours goes beyond recognition to elevate and empower entrepreneurial voices. The initiative offers continued opportunities for growth and visibility, with past winners becoming part of a thriving community of changemakers. Through industry panels, business forums, and ecosystem events, they gain a platform to share their journeys, strengthen partnerships, and drive sustained impact. Tally MSME Honours 2025 will feature the following award categories: Wonder Women: Honouring women entrepreneurs who have defied odds to build thriving businesses and inspire change. Honouring women entrepreneurs who have defied odds to build thriving businesses and inspire change. Business Maestro: Recognising experienced business leaders whose expertise and perseverance have laid strong foundations for others to follow. Recognising experienced business leaders whose expertise and perseverance have laid strong foundations for others to follow. NewGen Icon: Spotlighting startups that are redefining the business landscape with bold ideas and breakthrough innovations. Spotlighting startups that are redefining the business landscape with bold ideas and breakthrough innovations. Tech Transformer: Celebrating businesses that are leveraging technology to boost efficiency and drive digital transformation. Celebrating businesses that are leveraging technology to boost efficiency and drive digital transformation. e-Preneur Icon: Rising solopreneurs based out of UAE that are homegrown and creatively deliver to clients. The nomination entries will be judged by an esteemed panel comprising experts from the field of technology, the MSME domain, and the media. With a focus on inclusivity, the program aims to bring visibility to entrepreneurs from every corner of the UAE, across emirates, sectors, and stages of business maturity.


Daily News Egypt
6 days ago
- Daily News Egypt
EGP 283.6bn in total financing provided by regulated entities in Q1 2025: FRA
The Financial Regulatory Authority (FRA) announced that entities under its supervision provided a total of EGP 283.6bn in financing during the first quarter (Q1) of 2025. This includes all regulated non-banking financial activities, such as capital markets, insurance, leasing, and consumer finance. In its quarterly report, the FRA revealed that equity issuances during Q1 totaled EGP 2bn, while issuances of securities other than shares reached EGP 3bn. Leasing contracts were valued at EGP 1bn during the same period. Financing extended to micro, small, and medium enterprises (MSMEs) reached EGP 24.4bn, underscoring the sector's importance in supporting economic growth and job creation. Consumer finance amounted to EGP 17.5bn, and factoring activity—financing through the purchase of accounts receivable—stood at EGP 29.8bn. Mortgage finance also remained strong, recording EGP 11.2bn in value. The FRA noted that the value of disclosures on movable assets registered in Egypt's collateral registry reached EGP 3trn in Q1, reflecting the growing use of movable assets as loan collateral. Meanwhile, the outstanding balances of MSME financing totaled EGP 6bn. In the insurance sector, collected premiums reached EGP 30.3bn in the first three months of the year. Of this, property and liability insurance contributed EGP 17.5bn, while life and fund formation insurance accounted for EGP 12.8bn. Paid compensation by insurers during the same period totaled EGP 13.7bn—EGP 6.6bn for property and liability insurance, and EGP 7.1bn for life and fund formation policies. Private insurance fund investments reached EGP 6.5bn during Q1, indicating solid growth in long-term savings and retirement-related instruments. The FRA clarified that property and liability insurance includes coverage against risks such as fire, theft, and damage to physical assets, including homes, vehicles, and commercial goods. Life and fund formation insurance comprises life coverage, personal accident insurance, and savings-based policies that help individuals plan for future financial needs. The authority's report reflects the continued development of Egypt's non-banking financial services sector, a key pillar in the country's economic diversification and financial inclusion strategies.


See - Sada Elbalad
27-05-2025
- See - Sada Elbalad
Iscore, Modefinance International Announce their Strategic Collaboration to Launch Smart MSMEs Grading System in Egypt
Nada Mustafa The Egyptian Credit Bureau, iscore, is pleased to sign an impactful partnership agreement with Modefinance International, a global provider of AI-driven credit rating solutions, to develop and implement a new smart MSMEs Grading System tailored for the Egyptian market. The agreement was signed on behalf of the Egyptian Credit Bureau, iscore, by Mr. Mohamed Korayem, CEO and Managing Director, and on behalf of Modefinance International by Mr. Cristian Giacomini, CEO of Modefinance International. The signing ceremony was attended by Eng. Sayonara El Asmar, Deputy CEO and Managing Director of iscore and Mr. Mohamed ElAshmawy, Scoring & Advisory Services Director of iscore alongside: Mr. Gianfranco Sanseverino, Deputy CEO of Modefinance International Mr. Mattia Ciprian and Mr. Valentino Pediroda, Co-CEOs of Modefinance This partnership marks a significant milestone in advancing financial inclusion and supporting the sustainable growth of micro, small, and medium-sized enterprises (MSMEs) in Egypt. Mohamed Korayem, CEO and Managing Director of iscore, commented: "We are proud to partner with Modefinance International to introduce a smart, AI-powered MSMEs Grading System that will serve as a game-changer for the Egyptian financial sector. This collaboration reflects our commitment to driving financial inclusion and empowering micro, small, and medium-sized enterprises with reliable, data-driven tools that enhance their access to finance. By combining iscore deep local market expertise with Modefinance advanced technology, MSMEs & credit risk rating strong proficiency along with management solutions, we are laying the groundwork for a more transparent, efficient, and inclusive credit ecosystem—one that supports Egypt national vision for sustainable economic growth." Cristian Giacomini, Modefinance International CEO, commented: 'The partnership with iscore further consolidates Modefinance International's role in Egypt, the North African region, and the entire GCC area, where we established a solid expertise. The Egyptian market is a particularly strategic business area as it is characterized by a widespread presence of micro, small and medium-sized enterprises. As a result, there is a high focus on the issue of financial inclusion and the need to benefit from advanced credit assessment systems, such as the solutions we have developed. Together with iscore, we aim at contributing to the growth of the country's industry by facilitating local MSMEs to access credit." The core focus of the collaboration is implementing a newly developed MSMEs Grading system, powered by Tigran, Modefinance proprietary credit risk assessment tool. Tigran applies AI-driven models and big data analytics to precisely evaluate the creditworthiness of MSMEs based on their financial performance, management experience, and macroeconomic factors to enhance transparency and efficiency across the lending ecosystem. Leveraging this partnership, iscore will be able to offer more accurate and efficient credit rating services, reinforcing efforts to expand financial inclusion and promote sustainability in the financial sector. Through this strategic partnership, we foster a sustainable and inclusive financial ecosystem by reinforcing iscore role as a key supporter for credit decision-making for MSMEs…This aligns with Egypt national priorities to strengthen the SME sector, which accounts for 98% of the private sector, employs over 47 million people, and contributes approximately 43% to the national GDP in FY2023–2024. Additionally, the agreement will support the introduction of cutting-edge, data-driven credit rating tools that are flexible and well-suited to local market dynamics, helping expand financing opportunities and enabling better decision-making for financial institutions. Modefinance is a pioneering fintech rating agency, established in 2009, known for utilizing artificial intelligence and big data analytics to deliver advanced credit risk management solutions. It serves as the parent company of Modefinance International—led by CEO Mr. Cristian Giacomini—which was founded in 2021 to expand the group's global presence. According to latest 2024 ESMA Market Share report, Modefinance is in the top 10 as market share among CRAs registered in EU. This collaboration reflects iscore ongoing commitment to advancing its strategy of developing modern and effective credit assessment tools to mitigate risk within the vital MSME sector, which plays a critical role in Egypt economy. This partnership is a significant step forward in unlocking opportunities for growth, supporting economic development, and enabling smarter credit decisions across the SME landscape. Modefinance International is the global arm of Modefinance, established in 2021 to expand the company's fintech solutions beyond Europe. Specializing in credit risk assessment and financial process automation, Modefinance International focuses on serving markets in the GCC Area -Middle East, Africa, and Asia. By leveraging Modefinance expertise and own technologies -like the MORE® credit scoring, proprietary models and services such as the Tigran Risk Platform- the company provides AI-driven tools to credit bureaus, banks, financial institutions, and enterprises. These solutions enable clients and partners to evaluate over 300 million companies and more than 65,000 banks worldwide, facilitating banks' informed decision-making and SMEs' financial inclusion. 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