Latest news with #Turathna
Daily News Egypt
21-05-2025
- Business
- Daily News Egypt
Latvia's CFLA explores partnership opportunities with Egypt's MSMEDA
A delegation from Latvia's Central Finance and Contracting Agency (CFLA) visited the headquarters of Egypt's Micro, Small, and Medium Enterprise Development Agency (MSMEDA) in Cairo to explore potential areas of cooperation. The visit was arranged in coordination with the Latvian Embassy in Egypt. Bassel Rahmy, CEO of MSMEDA, said that the meeting builds on the growing ties between the two sides, which began in December when Latvia participated in the 'Turathna' (Our Heritage) exhibition for handicrafts and heritage products. Discussions focused on aligning Latvia's development cooperation initiatives with Egypt's national priorities—particularly in SME support, digital transformation, and capacity-building. The Latvian delegation reviewed CFLA's experience in providing technical assistance to the SME sector. Both parties also discussed launching joint projects in the near future, including youth and women-focused training programs, support for business incubators and accelerators, and expanded institutional collaboration. Rahmy reaffirmed MSMEDA's commitment to working with international development partners to strengthen Egypt's SME sector. He emphasized the importance of exchanging expertise and implementing bilateral programs that enhance local entrepreneurship and facilitate access to international markets. The Latvian Embassy expressed strong interest in learning more about MSMEDA's operations, project mechanisms, and areas for future cooperation. The meeting was attended by MSMEDA Deputy CEOs Raafat Abbas and Hatem El-Ashry, along with Ieva Juste, Commercial Affairs Officer at the Latvian Embassy in Cairo.
Middle East
13-05-2025
- Business
- Middle East
OPEN// PM reviews efforts to enhance sustainability of MSMEDA
CAIRO, May 13 (MENA) - Prime Minister Moustafa Madbouli reviewed efforts to enhance the sustainability of the Micro, Small and Medium Enterprises Development Agency (MSMEDA) and ensure the continued achievement of its goals and the implementation of its development activities. This came during a meeting held on Tuesday in the presence of Minister of Finance Ahmed Kouchouk, CEO of MSMEDA Basil Rahmy, Head of the Infrastructure and Economic Affairs Budget Sector at the Ministry of Finance Ahmed Samir and Head of the General Budget Sector at the Ministry of Finance Waleed Abdullah. During the meeting, Rahmy highlighted the agency's key efforts to strengthen its sustainability and maintain progress toward its development goals, through the provision of both financial and non-financial services to target projects and the adoption of initiatives aligned with the state's priorities for achieving sustainable development. He also shed light on the major accomplishments in 2024 across various workstreams of the agency, including supporting productive and service activities, promoting exports and marketing handmade and artisanal products locally and internationally. Rahmy emphasized the agency's work to encourage the transition from the informal to the formal economy through awareness campaigns targeting informal clients, helping them meet legal requirements such as obtaining tax cards, commercial registrations and completing licensing procedures. These efforts aim to enable informal businesses to benefit from incentive programs and facilitated financing, ensuring their sustainable integration into the formal economy, he said. Rahmy also discussed the steps taken to update the national strategy for developing handicraft and heritage industries, along with areas of collaboration with several international organizations to boost the agency's role in implementing its diverse activities. He reviewed preparations for organizing Turathna (Our Heritage) Expo 2025 and efforts to promote high-value cultural craft products, including plans to establish sales outlets for heritage products in the Giza Pyramids area and Cairo International Airport terminals. He also mentioned the ongoing preparations for displaying handcrafted products in the Grand Egyptian Museum, which is currently finalizing arrangements for its grand opening. (MENA) M H K/R E E
Zawya
28-04-2025
- Business
- Zawya
MSMEDA injects $15.69mln into North, South Sinai to boost small projects
Egypt - Bassel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), announced that the Authority has injected approximately EGP 800m into North and South Sinai from July 2014 through the end of 2024. This financing has supported around 9,600 small and micro projects, generating over 23,000 job opportunities for the people of Sinai. Speaking on the occasion of Sinai Liberation Day, Rahmy reaffirmed MSMEDA's commitment to providing both financial and technical support to small enterprises in Sinai, leveraging their potential to create employment, particularly among youth. He emphasized that this effort aligns with directives from Prime Minister Mostafa Madbouly, who chairs the Authority's Board of Directors, and reflects the political leadership's vision for driving comprehensive development across Sinai, with a strong focus on empowering young graduates and women. Rahmy noted that MSMEDA's efforts extend beyond financial services, with a wide range of non-financial initiatives, including awareness campaigns, entrepreneurship training, marketing support, and participation in exhibitions. Special emphasis has been placed on empowering women economically and socially. The Authority has organised training courses in traditional crafts and handicrafts to enhance women's skills, alongside administrative and marketing training to enable them to manage their businesses effectively. Additionally, MSMEDA has worked to help female entrepreneurs market their products through prominent exhibitions such as 'Turathna' (Our Heritage). It has also provided capacity-building training for associations and organisations that support handicraft industries in Sinai, enhancing their competitiveness. Rahmy revealed that preparations are underway to provide trained women with modern sewing machines, along with specialised training on their use, in collaboration with the Spanish Agency for International Development Cooperation. Looking ahead, Rahmy explained that MSMEDA has an ambitious plan to continue expanding small and micro enterprises across Sinai, providing comprehensive support for new and existing projects. He confirmed that MSMEDA's regional branches, working in partnership with universities, educational directorates, and civil society organisations, have launched free training courses aimed at equipping Sinai's youth with the skills needed to start and manage their own businesses. These programmes help participants choose project ideas suited to their experience and academic backgrounds, secure financing, and establish productive enterprises that leverage Sinai's rich natural resources. Rahmy also highlighted the Authority's efforts to familiarise citizens with the incentives offered under Law 152/2020 on the Development of Medium, Small, and Micro Enterprises. By transitioning from the informal to the formal sector and obtaining official classification certificates, entrepreneurs can access a wide range of government services and benefits designed to help grow and expand their businesses.
Daily News Egypt
27-04-2025
- Business
- Daily News Egypt
MSMEDA injects EGP 800m into North, South Sinai to boost small projects
Bassel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), announced that the Authority has injected approximately EGP 800m into North and South Sinai from July 2014 through the end of 2024. This financing has supported around 9,600 small and micro projects, generating over 23,000 job opportunities for the people of Sinai. Speaking on the occasion of Sinai Liberation Day, Rahmy reaffirmed MSMEDA's commitment to providing both financial and technical support to small enterprises in Sinai, leveraging their potential to create employment, particularly among youth. He emphasized that this effort aligns with directives from Prime Minister Mostafa Madbouly, who chairs the Authority's Board of Directors, and reflects the political leadership's vision for driving comprehensive development across Sinai, with a strong focus on empowering young graduates and women. Rahmy noted that MSMEDA's efforts extend beyond financial services, with a wide range of non-financial initiatives, including awareness campaigns, entrepreneurship training, marketing support, and participation in exhibitions. Special emphasis has been placed on empowering women economically and socially. The Authority has organised training courses in traditional crafts and handicrafts to enhance women's skills, alongside administrative and marketing training to enable them to manage their businesses effectively. Additionally, MSMEDA has worked to help female entrepreneurs market their products through prominent exhibitions such as 'Turathna' (Our Heritage). It has also provided capacity-building training for associations and organisations that support handicraft industries in Sinai, enhancing their competitiveness. Rahmy revealed that preparations are underway to provide trained women with modern sewing machines, along with specialised training on their use, in collaboration with the Spanish Agency for International Development Cooperation. Looking ahead, Rahmy explained that MSMEDA has an ambitious plan to continue expanding small and micro enterprises across Sinai, providing comprehensive support for new and existing projects. He confirmed that MSMEDA's regional branches, working in partnership with universities, educational directorates, and civil society organisations, have launched free training courses aimed at equipping Sinai's youth with the skills needed to start and manage their own businesses. These programmes help participants choose project ideas suited to their experience and academic backgrounds, secure financing, and establish productive enterprises that leverage Sinai's rich natural resources. Rahmy also highlighted the Authority's efforts to familiarise citizens with the incentives offered under Law 152/2020 on the Development of Medium, Small, and Micro Enterprises. By transitioning from the informal to the formal sector and obtaining official classification certificates, entrepreneurs can access a wide range of government services and benefits designed to help grow and expand their businesses.
