Egypt's MSMEs Represent 97% of Private Sector
As Egypt marked the International Day of Micro, Small, and Medium Enterprises (MSMEs), Basil Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), underscored the critical role of small businesses in driving Egypt's economy, revealing they represent over 97% of the private sector.
According to the Cabinet's Information and Decision Support Center (IDSC), Rahmy highlighted MSMEDA's extensive experience spanning more than three decades in empowering small enterprises. 'Our agency started as the Social Fund for Development and was restructured as MSMEDA under Law No. 152 of 2020,' he noted, adding that Egypt's MSMEs are the backbone of the private sector and a cornerstone of sustainable development.
Rahmy revealed that MSMEDA has provided services to over 2.3 million clients so far, offering a comprehensive support ecosystem that includes financial and non-financial assistance such as funding, training programs, feasibility studies, B2B networking, and participation in domestic and international exhibitions to help businesses access new markets.
He emphasized that 'commitment and seriousness are the keys to any project's success,' especially among Egypt's youth, who constitute more than 40% of the workforce. 'Having an innovative idea, leveraging MSMEDA's expertise and services, and maintaining discipline in work and repayments are all crucial factors for growth and success,' Rahmy said.
Although MSMEDA did not organize an event this year to mark MSME Day, Rahmy revealed plans for a major celebration in 2026. The event will showcase success stories of MSMEs supported over the past three to four years, with a special focus on productive, industrial, agricultural, and IT sectors.
Rahmy also stressed MSMEDA's commitment to supporting young entrepreneurs, particularly those with innovative ideas in green economy fields and artificial intelligence. 'The future holds immense opportunities for businesses that adopt modern technologies and sustainable solutions, aligning with Egypt Vision 2030 and the Sustainable Development Goals,' he said.
The agency enjoys strong support from the Egyptian government, led by the President, the Prime Minister, and a board of directors that includes seven cabinet ministers and five experts. This high-level backing ensures ongoing performance development and the expansion of support services across all governorates.
In the same connections, he affirmed that innovation and digital transformation have become vital pillars for the future growth and sustainability of enterprises in Egypt.
MSMEDA reaffirmed its commitment to fully supporting this vital sector, empowering entrepreneurs and small business owners as a driving force for comprehensive economic development, enhancing competitiveness, and creating sustainable job opportunities nationwide.
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