Bassel Rahmy, Chief Executive Officer of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), said that the agency has injected EGP 79.6bn in financing since its establishment 35 years ago under the name of the Social Fund for Development.
The financing has supported more than four million projects across various economic sectors, creating around 6.8 million job opportunities. In addition, the agency has provided EGP 7.1bn for infrastructure, community development and training projects to create a supportive environment for the growth of enterprises of all sizes, in coordination with governorates and relevant authorities.
Rahmy said that the financial support provided by the agency to the micro, small and medium enterprise (MSME) sector has witnessed unprecedented growth since President Abdel Fattah Al-Sisi assumed office in 2014. Between 2014 and April 2026, the agency injected EGP 62.4bn into the sector, representing more than 82% of the total financing provided since the agency was established in 1991.
He stressed the agency’s commitment to ensuring that its services reach all governorates across Upper Egypt, the Nile Delta, the border governorates and Sinai, while covering all economic activities, including industry, agriculture, livestock, services and trade. He noted that 51% of beneficiaries of the agency’s financing were men, compared with 49% women.
Rahmy added that the agency has also trained tens of thousands of young people and citizens in entrepreneurship and marketing skills and successfully enabled them to participate in around 2,346 international, national and local exhibitions to help them expand, sustain and grow their businesses.
Furthermore, he praised the partnerships established by the agency over the past 35 years with donor organisations, international institutions, counterpart agencies, local partners, ministries, civil society organisations, and major financial and banking institutions in Egypt involved in supporting the MSME sector. These partnerships have resulted in numerous areas of cooperation that have played a significant role in promoting the culture of self-employment and enabling citizens to access the financing needed for their businesses.
Rahmy also commended the agency’s strategic partnership with the United Nations Development Programme, which has spanned 35 years. During this period, the UNDP has played a pivotal role in supporting the agency’s efforts to develop Egypt’s enterprise sector and implement international best practices, particularly in pioneering fields such as the green economy, innovation, entrepreneurship and modern technology.
Rahmy’s remarks came on the occasion of the 35th anniversary of the establishment of MSMEDA, which coincides with the observance of Micro-, Small and Medium-sized Enterprises Day.
The agency launched its development programmes in Egypt in 1991 under the name of the Social Fund for Development, becoming the country’s first specialised fund dedicated to supporting and financing small and micro enterprises. It operated under the direct supervision of the Prime Minister and in cooperation with an international group of partner organisations and countries, led by the UNDP.
Since its establishment, the fund has been entrusted with a range of economic and social responsibilities. These responsibilities evolved further following a decision by Prime Minister and Chairperson of the agency, Mostafa Madbouly, to expand its mandate and programmes under its current name, the Micro, Small and Medium Enterprise Development Agency.
Rahmy also said that the agency will continue strengthening partnerships with international organisations and Egyptian institutions to provide financing and support services that help create a more enabling investment climate and encourage young people to establish more businesses across different sectors, particularly innovative and entrepreneurial ventures. He added that the agency remains committed to economically and socially empowering women and improving the quality of life in areas most in need of development services.
He concluded by calling on Egypt’s young people, particularly recent graduates, to make the best use of the services, incentives and benefits provided under the country’s investment-supporting legislation to facilitate the establishment and expansion of businesses across various economic sectors. He said that this would help create more decent and sustainable job opportunities, reduce reliance on traditional employment, and strengthen the contribution of human capital to comprehensive economic development.
