MSMEDA chief, Senegalese Microfinance Minister discuss promotion of micro-projects in both countries

Daily News Egypt
2 Min Read

Bassel Rahmi, CEO of the Micro, Small, and Medium Enterprises Development Agency (MSMEDA), recently held discussions with Alyoune Dion, Senegal’s Minister of Microfinance, Social Economy, and Solidarity. The talks focused on fostering cooperation and exchanging expertise to bolster micro-projects in both nations.

Rahmi highlighted MSMEDA’s commitment to following the political leadership’s vision by partnering with African counterparts to support and elevate micro-projects. This initiative aims to enhance living standards, product development, and market access for business owners and their employees.

The meeting, attended by Kimoko Jackity, Senegal’s Ambassador to Egypt, and Khaled Megahed, President of the Egyptian-Senegalese Business Council, saw the review of Egypt’s legislative efforts to nurture micro-projects, including the pivotal Law No. 152/2020, which offers incentives and tax benefits. Rahmi also shed light on national initiatives like the Presidential Initiative for Decent Life, which MSMEDA supports in collaboration with various state entities.

MSMEDA’s strategic plan, as outlined by Rahmi, prioritizes digital transformation, financial inclusion, and the activation of a small project platform. It also underscores support for industrial and agricultural ventures that cater to local demands and possess export capabilities.

Minister Dion expressed keen interest in MSMEDA’s role in promoting financial inclusion, micro-project advancement, the green economy, and export growth. He conveyed Senegal’s intention to forge a partnership with Egypt, leveraging its robust economy and micro-project sector expertise.

Dion envisioned a public-private partnership with Egypt to bolster microfinance, stimulate economic growth, and create job opportunities, thereby addressing youth migration.

Micro-project owners affiliated with MSMEDA shared their success stories with the Senegalese delegation, showcasing their products and the agency’s support in enhancing their competitiveness and market reach.

Rahmi extended an invitation to Senegal to participate in the upcoming Heritage Exhibition, which showcases handicrafts and heritage, thus opening new marketing avenues for micro-project products.

The meeting concluded with a mutual commitment to enhance bilateral development cooperation and exchange of expertise, further strengthening the economic ties between Egypt and Senegal.

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