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Social Fund for Development unable to finance more franchises - Daily News Egypt

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Social Fund for Development unable to finance more franchises

Difficult economic and political situation prevents further expansion


Throughout 2012, Egypt’s Social Fund for Development (SFD) signed a number of contracts with foreign countries totalling $418m. (Photo: Courtesy of Facebook Fan Page)
Ghada Wali, Secretary General of the Social Fund for Development (SFD), said that Egypt’s current political circumstances have made it difficult for the SFD to continue expanding and provide financing for franchises.
(Photo: Courtesy of Facebook Fan Page)

Ghada Wali, Secretary General of the Social Fund for Development (SFD), said that Egypt’s current political circumstances have made it difficult for the SFD to continue expanding and provide financing for franchises.

She stated that the SFD had created an electronic forum to finance franchises and provide them with technical and logistical assistance, but Egypt’s current state of affairs has prevented the SFD from expanding, despite recently hiring new staff.

Wali added that the SFD’s ability to finance new franchises has been reduced to a minimum due to the large number of companies operating in Egypt and their ability to influence the market.

The SFD has recently released data on its new franchises and shared this information with its partner banks, including the Industrial Development and Workers Bank of Egypt, the National Bank of Egypt (NBE), and Audi Bank.

https://www.dailynewsegypt.com/2013/03/13/social-fund-for-development-unable-to-finance-more-franchises/
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