The announcement was made during the CBE’s participation in the second forum on information technology systems
The Central Bank of Egypt (CBE) announced that some 4.7 million microentrepreneurs received funding worth EGP 78.3 billion till June 2023 compared to EGP 6.4 billion for two million microentrepreneurs in December 2016.
The announcement was made during the CBE’s participation in the second forum on information technology systems, which was organized by the Egyptian Federation for Financing Medium, Small and Micro Enterprises (MSMEF).
The forum reinforces the CBE’s vision to expand in medium, small and micro enterprises, by providing an opportunity for micro, small and medium enterprise financing entities to become familiar with the rapid developments in the information technology systems and financial technology (FinTech) sector.
Earlier this week, Entlaq, a startup accelerator program and consultancy firm, announced that the total amount of the entrepreneurship ecosystem investments amounts to almost $2 billion between 2018 to 2023.
Entlaq released its first bi-annual Entrepreneurship Sector Diagnostics Report shedding light on Egypt's entrepreneurial ecosystem and laying the foundations for a deeper understanding of the challenges and opportunities faced by entrepreneurs, investors and players across the ecosystem.
