Bassel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), announced that the agency has provided total financing of EGP 4.5bn in Cairo Governorate between 1 July 2014 and May 2026.
Of this total, EGP 4.3bn was allocated to finance 98,600 micro, small, and medium-sized enterprises (MSMEs), helping to create more than 181,700 job opportunities. A further EGP 158.6m was directed towards community development projects, generating around 385,800 daily employment opportunities.
Rahmy said MSMEDA continues to strengthen cooperation with development partners and governorates to equip young people with the skills needed to enter the labour market, while raising awareness of the agency’s financial and non-financial services, as well as those offered by other government entities under Egypt’s investment-supporting legislation.
He said these efforts form part of a comprehensive strategy to increase the contribution of MSMEs to the national economy while creating more decent and sustainable employment opportunities for Egyptians.
Rahmy made the remarks on the occasion of Cairo’s National Day, reaffirming the continued partnership between MSMEDA and the governorate to provide comprehensive support for the small business sector.
He explained that the agency continues to work closely with Cairo Governorate to support projects across a wide range of sectors, particularly productive and service-oriented enterprises, through an integrated package of financial and technical services.
These initiatives are designed to encourage citizens to pursue self-employment by establishing new businesses or expanding existing ones, while enabling young entrepreneurs to access financing through MSMEDA’s diverse funding programmes.
Rahmy added that MSMEDA is implementing the Urban Upgrading Programme for Unplanned Areas in Cairo and Giza in cooperation with Cairo Governorate. The programme is funded by the European Union through a delegated grant to the French Development Agency (AFD).
The initiative targets the redevelopment of El Zawya El Hamra and Ezbet Khairallah through a range of development projects aimed at improving public services, creating a more supportive environment for the growth of MSMEs, and generating additional employment opportunities for local residents.
Rahmy emphasised that the agency is expanding financing for MSMEs across Cairo Governorate through both direct lending and intermediary financing institutions, including leading banks and finance companies.
At the same time, MSMEDA is expanding the free training programmes offered through its Cairo branch to equip more young people with the knowledge and skills needed to establish sustainable businesses that create stable employment for themselves and others.
