Latest in Tag: MSMEs Highlight
Latest in Tag: MSMEs
Robust joint venture between Damen, CashCall, and AUR Fintech
Egypt has 3.4 million micro-sized businesses, 2,200 medium-sized enterprises, and 217,000 small-sized businesses: CBE Sub Governor
Egypt has more than 3 million MSMEs
This can happen in light of the government’s great interest in this vital sector, as reflected in several customs and tax incentives in the Law for the Development of Medium, Small and Micro Enterprises, and other incentives.
Nevine Gamea, Minister of Trade and Industry and Executive Director of the Micro, Small, and Medium Enterprises Development Agency (MSMEDA), has met with Mahmoud Shaarawy, Minister of Local Development, to discuss preparing a comprehensive database for the MSMEs sector. Gamea explained, during the meeting, that cooperation mechanisms between MSMEDA and the Ministry of Local Development …
The Egyptian-Saudi Joint Committee for the development of Micro, Small and Medium-sized Enterprises (MSMEs) has launched a website to present its efforts in financing Egypt’s MSMEs.
CBE has facilitated procedures for granting finance without approved financial statements
National Bank of Egypt receives $100m from European Investment Bank to support SMEs
Move comes in support of CBE initiative to encourage transition to digital payments in Egypt, and will last over Ramadan
Agreement supports CBE aim to raise microbusinesses, SME sector contribution to formal economy, women empowerment
60% of project owners in current Bazaar exhibition are participating for first time
Banks in Egypt required to increase financing to MSMEs to 25% of credit facilities portfolio
No tax accounting for these projects for years prior to date of submitting reconciliation requests, says Mohamed Maait
The company announced that it partnered with Visa to issue a first of its kind card enabling MSMEs to end cash wages and empower their employees with financial tools. The Visa Paynas card is issued in partnership with Banque Misr, one of the biggest banks in Africa.
The loan will assist the Egyptian bank in developing its MSME lending activities, and expand access to finance for underserved MSMEs.
Venkatasamy’s remarks came during the Financial Services Regulators Sub-regional Stakeholder Meeting that discussed solutions to increase intra-trade and financial flows for MSMEs in Africa.
NEW loan of $15m bolsters funding base for important economic pillars
New platform to provide crisis management advice to help over 10,000 companies in 30 countries
The law also put in place flexible, new and updated mechanisms to facilitate the provision of financing for these projects and expand the provision of financial and non-financial incentives for the, as well as the development of simplified and flexible systems for permanent tax treatment.
FRA chairperson Mohamed Omran said that instalments to be collected starting early March to September without imposing any delay fines.
MSMEs are the backbone of MENA economies, comprising nearly 90% of private firms and playing a pivotal role in the creation of dynamic, competitive, and inclusive economies and jobs, according to International Finance Corporation (IFC’s) press statement on Tuesday.
About 80% of entrepreneurs fail, that is why business incubators are very important
Service sector received EGP 62.2bn banking funds, while industrial sector got EGP 43.1bn
The ministry added in a press statement, on Saturday, that this law aims to improve the growth structure and raise its rates, which will subsequently provide more job opportunities for youth.
Bank signs cooperation protocol with universities to provide workspaces for entrepreneurs
Bank pumped EGP 605m to 1,314 clients in CBE’s initiative, says Elkosayer
Protocol extends over 1 year, financing between EGP 500,000, EGP 10m
The SANAD Fund for MSMEs (SANAD) announced, in a press statement on Monday, that it will finance a $10m senior loan to Egypt’s Banque du Caire to support the expansion of the bank’s lending operations for micro, small, and medium enterprises (MSMEs). Banque du Caire, which is Egypt’s sixth largest bank, with its status as …
A special office to provide financial and non-financial services to SMEs as well as technical training and marketing support
The contract aims to finance 23,000 new and existing projects to provide 4,600 jobs in the sectors of agriculture and livestock