MSMEDA bolsters cooperation with Arab, African nations to aid entrepreneurs, says CEO Rahmi

Hossam Mounir
2 Min Read

Basil Rahmi, CEO of the Micro, Small, and Medium Enterprises Development Agency (MSMEDA), has affirmed the agency’s commitment to state policies aimed at fostering cooperation with Arab and African countries. This initiative supports entrepreneurs by assisting in project implementation and facilitating the exchange of experiences with similar ventures across these regions.

Rahmi’s remarks came during his attendance at the summit of African Ministers responsible for emerging enterprises, which coincided with the second African Start-up Conference recently held in Algeria.

He emphasized MSMEDA’s dedication to providing comprehensive financial and technical support to small startups, as well as establishing a conducive regulatory environment for their growth and expansion within Egypt. The goal is to generate respectable, promising, and sustainable employment opportunities for the youth and graduates harboring entrepreneurial aspirations.

Rahmi highlighted the conference’s significance as a milestone in regional cooperation, aiming to bolster startups and innovative young minds to surmount the developmental hurdles confronting the continent across various sectors.

During the event, the CEO toured the Algerian and African startups exhibition, featuring around 200 exhibitors from African enterprises, the German Agency for International Cooperation, the African Union, and Egyptian startups. He reassured Egyptian pavilion participants of MSMEDA’s profound interest in domestic startups, pledging continued support, infrastructure, and funding to ensure their persistence and success.

In discussions with Mokhtar Warida, the Egyptian Ambassador to Algeria, Rahmi explored avenues to enhance bilateral cooperation between Egypt and Algeria in the realm of small projects and startups. He also convened with Yassin Walid Al-Saghira, Algeria’s Minister of Knowledge Economy, Emerging Enterprises, and Micro-enterprises, underscoring the pivotal role startups play in spurring economic growth.

A bilateral meeting with Stella Ndabeni-Abrahams, South Africa’s Minister of Small and Medium Enterprises Development, culminated in a mutual intent to sign a memorandum of understanding between MSMEDA and South Africa’s Small Enterprise Development Agency. This agreement aims to amplify technical collaboration in nurturing small projects, advancing digitization and incubators, and organizing joint exhibitions.

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