HDB pays attention to expanding non-financial business development centres

Hossam Mounir
4 Min Read

The Housing and Development Bank (HDB) has been interested in supporting small and medium enterprises (SMEs), and strives to consolidate the concept of entrepreneurship, as it is the locomotive of economic growth, by reducing poverty and unemployment rates and raising growth and sustainability rates.

The bank activated the role of non-financial business development services centers, with the aim of supporting entrepreneurs, increasing the number of SMEs, and encouraging emerging and existing companies in the targeted economic sectors, by transforming the creative ideas of youth and entrepreneurs into real projects. It also aims to support already existing projects with all means of technical and human support provided by the bank, with the aim of enhancing local products, creating a competitive national industry capable of competing in the national market to replace its imported counterpart, in addition to opening new markets at the international level and creating job opportunities.

In this context, the Business Development Center of the HDB carried out several introductory activities through field visits to many institutions.

In cooperation with the Bank’s Financial Inclusion Department, the center’s work team visited the Arab Foundation for the Hearing Impaired with the aim of introducing the importance of financial inclusion and spreading awareness of the importance of opening bank accounts and electronic wallets. The introductory seminar was presented in sign language to more than 100 hearing impaired individuals.

The Bank’s Business Development Center, in cooperation with the Financial Inclusion Department, prepared educational seminars for more than 100 trainees, with the aim of providing training services, capacity building, and raising awareness of the non-financial services provided by HDB to entrepreneurs. It is also providing lectures to introduce feasibility studies and the business plan, with the help of realistic examples and models from experts and successful entrepreneurs in this field.

In addition, a meeting was held between the Bank’s Business Development Center and the HUB Academy at Ain Shams University, to discuss ways of cooperation between the two parties to provide services to university students, provide them with non-financial services, and create an appropriate advisory environment to improve their work environment.

For his part, Hassan Ghanem, Chairman and Managing Director of HDB, praised the efforts of CBE in directing banks towards changing the banking culture, so that banking work includes expanding the provision of its services to include the provision of non-financial services, which is a complementary step to the tasks of Egyptian banks. This contributes to enhancing the support provided to SMEs and entrepreneurs, and achieving sustainability for enterprises wishing to grow and expand, which leads to achieving economic development and advancing development in Egypt.

Noteworthy, within the framework of CBE’s efforts to support entrepreneurship and encourage innovations as a strategic step to achieve the goals of sustainable development and Egypt’s Vision 2030, the bank directed the banking sector to support startups and SMEs, exploit the potential of innovative youth and provide the necessary support to establish new projects and create job opportunities.

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