Bassel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), announced that the agency injected EGP 2.2bn in financing into Menoufeya between July 2014 and April 2026. The funding supported medium, small and micro enterprises, as well as infrastructure, community development and training projects.
The financing helped fund around 54,000 projects, creating approximately 111,000 job opportunities and generating nearly one million workdays for irregular labour.
In a statement issued on Saturday to mark Menoufeya’s National Day, Rahmy stressed MSMEDA’s commitment to strengthening cooperation with the governorate to foster a more supportive environment for the establishment and expansion of small enterprises. He noted that the agency is working to help residents capitalise on promising investment opportunities across the governorate, given the vital role of small businesses in creating decent and sustainable employment and supporting comprehensive economic and social development through enhanced productive capacity and stronger local industries.
Rahmy explained that MSMEDA facilitates access to a wide range of financing, marketing and technical support services for owners of existing enterprises seeking to expand their operations, as well as for aspiring entrepreneurs looking to launch new ventures. The agency also helps beneficiaries take full advantage of the incentives and facilities offered under the Enterprise Development Law No. 152 of 2020, which supports entrepreneurship and self-employment.
He added that MSMEDA is working closely with Menoufeya Governorate to provide a variety of financing products, technical support programmes and licensing services for entrepreneurs and young people. Regarding the agency’s non-financial services, Rahmy noted that more than 22,400 services were delivered through MSMEDA’s one-stop-shop centres during the same period.
These services included temporary and permanent licences for new projects, status-adjustment licences, tax cards, social insurance services, certificates of benefits, and classification certificates for small and micro enterprises.
Rahmy further highlighted the agency’s cooperation with the governorate to support and develop Menoufeya’s production clusters, given their significant economic contribution, their ability to generate sustainable employment opportunities, and their capacity to absorb the skilled craft workforce for which the governorate is renowned.
He noted that these clusters produce distinctive heritage and handicraft products that enjoy strong competitiveness in both local and international markets. MSMEDA supports their promotion through specialised marketing exhibitions, most notably the annual Turathna Exhibition for handicrafts and heritage products.
Rahmy also said that MSMEDA, in coordination with Menoufeya Governorate, is encouraging citizens to take advantage of promising investment opportunities across a range of sectors, particularly food industries, handicrafts, and spinning and weaving. The agency is implementing a strategic approach to help young people access these opportunities and strengthen their contribution to the national economy through the establishment of new enterprises across various economic activities.
In addition, MSMEDA introduces project owners operating in the industrial zones of Sadat City and Quesna, as well as the free zone in Shebin El-Kom, to the agency’s various technical and advisory services, helping them expand their businesses and enhance their growth prospects.
