Latest news with #andMediumEnterprisesDevelopmentAgency
CairoScene
21-03-2025
- Business
- CairoScene
MSMEDA Allocated LE 11.9 Billion for Business Growth in Upper Egypt
MSMEDA's investment in small and micro projects across Minya, Fayoum and Beni Suef has created 826,300 jobs since 2014. Mar 21, 2025 From July 2014 to December 2024, the Micro, Small, and Medium Enterprises Development Agency (MSMEDA) in Egypt allocated LE 11.9 billion to fund 574,349 small and micro enterprises in Minya, Fayoum and Beni Suef. The investment has supported business growth, infrastructure improvements, and community projects across these northern Upper Egypt governorates. These projects generated 826,300 permanent jobs, alongside millions of temporary employment opportunities, particularly for informal workers. Minya received the largest share of funding. MSMEDA has also facilitated licensing for nearly 21,000 small businesses, supporting the formalisation of enterprises and granting classification certificates to help businesses access benefits under Small Enterprise Development Law 152/2020. Over the past decade, MSMEDA has collaborated with international partners to fund infrastructure projects in the region, creating 7.9 million workdays.
Zawya
20-03-2025
- Business
- Zawya
MSMEDA provides $234mln in funding for 574,349 small, micro projects in northern Upper Egypt
Egypt - Basil Rahmy, CEO of the Micro, Small, and Medium Enterprises Development Agency (MSMEDA), announced that from July 2014 to December 2024, the agency has allocated EGP 11.9bn to support 574,349 small and micro enterprises, as well as infrastructure and community development projects, across the northern Upper Egypt governorates of Minya, Fayoum, and Beni Suef. He highlighted that these projects have created 826,300 permanent job opportunities for residents of these governorates, in addition to millions of temporary employment opportunities for informal workers. This has significantly contributed to improving living standards and fostering sustainable employment in the region. Rahmy noted that Minya governorate received the largest share of funding among the northern Upper Egypt governorates. Rahmy emphasized MSMEDA's commitment to driving economic and social development in Upper Egypt, aligning with the state's strategic objectives. He underscored the importance of maximizing the region's natural and human resources to enhance economic conditions for citizens and increase their contribution to national economic growth. His statements came as Minya, Fayoum, and Beni Suef celebrate their national holidays this March. He further explained that MSMEDA works closely with all relevant state institutions and governorates to provide financial support, technical assistance, and advisory services to entrepreneurs—particularly young people—helping them establish new businesses or expand existing ones. Additionally, over the past decade, the agency has successfully secured funding through international development partnerships for infrastructure projects in Minya, Beni Suef, and Fayoum. These projects have generated 7.9 million workdays. Rahmy emphasized that project selection is based on local needs and coordinated with the governorates, with a strong preference for labor-intensive execution over reliance on machinery. This approach ensures the creation of thousands of job opportunities for informal workers, further bolstering employment in the region. Regarding regulatory support, Rahmy noted that MSMEDA has facilitated the issuance of approximately 21,000 licenses for small enterprises, aiding the transition of informal businesses into the formal economy. Additionally, more than 15,000 classification and benefits certificates have been granted, enabling businesses to take advantage of incentives provided under the Small Enterprise Development Law 152/2020. Rahmy concluded by affirming that MSMEDA remains committed to fostering economic growth and empowering young entrepreneurs and women. He reiterated the agency's dedication to supporting small and micro enterprises and contributing to sustainable development efforts in northern Upper Egypt.
Daily News Egypt
20-03-2025
- Business
- Daily News Egypt
MSMEDA provides EGP 11.9bn in funding for 574,349 small, micro projects in northern Upper Egypt
Basil Rahmy, CEO of the Micro, Small, and Medium Enterprises Development Agency (MSMEDA), announced that from July 2014 to December 2024, the agency has allocated EGP 11.9bn to support 574,349 small and micro enterprises, as well as infrastructure and community development projects, across the northern Upper Egypt governorates of Minya, Fayoum, and Beni Suef. He highlighted that these projects have created 826,300 permanent job opportunities for residents of these governorates, in addition to millions of temporary employment opportunities for informal workers. This has significantly contributed to improving living standards and fostering sustainable employment in the region. Rahmy noted that Minya governorate received the largest share of funding among the northern Upper Egypt governorates. Rahmy emphasized MSMEDA's commitment to driving economic and social development in Upper Egypt, aligning with the state's strategic objectives. He underscored the importance of maximizing the region's natural and human resources to enhance economic conditions for citizens and increase their contribution to national economic growth. His statements came as Minya, Fayoum, and Beni Suef celebrate their national holidays this March. He further explained that MSMEDA works closely with all relevant state institutions and governorates to provide financial support, technical assistance, and advisory services to entrepreneurs—particularly young people—helping them establish new businesses or expand existing ones. Additionally, over the past decade, the agency has successfully secured funding through international development partnerships for infrastructure projects in Minya, Beni Suef, and Fayoum. These projects have generated 7.9 million workdays. Rahmy emphasized that project selection is based on local needs and coordinated with the governorates, with a strong preference for labor-intensive execution over reliance on machinery. This approach ensures the creation of thousands of job opportunities for informal workers, further bolstering employment in the region. Regarding regulatory support, Rahmy noted that MSMEDA has facilitated the issuance of approximately 21,000 licenses for small enterprises, aiding the transition of informal businesses into the formal economy. Additionally, more than 15,000 classification and benefits certificates have been granted, enabling businesses to take advantage of incentives provided under the Small Enterprise Development Law 152/2020. Rahmy concluded by affirming that MSMEDA remains committed to fostering economic growth and empowering young entrepreneurs and women. He reiterated the agency's dedication to supporting small and micro enterprises and contributing to sustainable development efforts in northern Upper Egypt.
Zawya
13-03-2025
- Business
- Zawya
Egypt: MSMEDA issues 130,000 licences for small enterprises over past decade
Egypt - Basil Rahmy, CEO of the Micro, Small, and Medium Enterprises Development Agency (MSMEDA), announced that between July 2014 and December 2024, the agency issued 19,804 final and temporary business regularization licences, along with 110,137 final licences for small enterprises. These were processed through MSMEDA's one-stop-shop units, located in offices across all Egyptian governorates, to simplify the establishment and operation of businesses. Rahmy emphasized that MSMEDA branches across Egypt continue their efforts throughout Ramadan to support micro, small, and medium enterprise (MSME) owners. The agency offers a range of initiatives designed to empower entrepreneurs, enhance their skills, and expand their market opportunities. He highlighted MSMEDA's commitment to delivering high-quality services, supported by a team of experienced professionals across its regional offices. As part of these efforts, MSMEDA has deployed 37 business regularization committees this month through its offices in various governorates. These committees play a crucial role in facilitating the formalization of MSMEs, streamlining licensing procedures, and integrating more businesses into the formal economy. This enables business owners to benefit from the incentives provided under Law 152/2020 for small enterprise development. MSMEDA also offers technical and administrative support to entrepreneurs, guiding them through the legal processes required to obtain business licences. In addition, MSMEDA regional offices are hosting a series of interactive seminars at Egyptian universities and technical schools this month. These sessions aim to educate students on entrepreneurship, equipping them with the skills and knowledge needed to turn their ideas into successful businesses. The agency is also actively participating in 'Ahlan Ramadan' fairs across governorates to support small enterprises. Rahmy encouraged aspiring entrepreneurs and young business owners to take advantage of MSMEDA's entrepreneurship training programs, available through its nationwide offices. He reaffirmed the agency's commitment to providing entrepreneurs with the necessary tools and resources for success, recognizing them as key drivers of Egypt's economic growth. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. ( Hossam Mounir
Egypt Today
27-01-2025
- Business
- Egypt Today
LE 1.2B MSMEDA's Green Financin across 10 years
CAIRO – 27 January 2025: The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has invested approximately LE 1.3 billion in green financing initiatives between July 2014 and December 2024. According to Chairman Basil Rahmy, MSMEDA allocated LE 1.2 billion to a groundbreaking initiative aimed at converting 150,000 vehicles to operate on natural gas within three years. This effort is part of a broader program to transition vehicles to dual-fuel systems (natural gas/petrol), contributing to a cleaner environment and reduced emissions. Rahmy highlighted MSMEDA's commitment to fostering environmentally friendly projects. Key initiatives include replacing outdated coal kilns with modern, efficient ones, funding biogas projects to generate clean energy, and supporting the management of agricultural waste such as rice straw and cotton stalks. The agency is also advancing solar energy projects, protecting riverbanks, promoting waste recycling, paving rural roads, and expanding water and sanitation networks. In 2025, MSMEDA plans to further its support for green projects, offering customized incentives to enhance their sustainability and foster growth. These efforts are part of a comprehensive strategy to drive Egypt's transition to green energy and environmental protection. Central to this strategy is collaboration with global organizations such as the World Bank, the European Union, and other international financial institutions. The United Nations Development Program (UNDP) plays a key role in helping MSMEDA develop effective plans that enhance the environmental sustainability of projects, ensuring their long-term success and positive impact.
