This achievement marks a 13% increase from the previous year and underscores the agency’s continued commitment to fostering economic growth and job creation
The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) announced it injected EGP 6 billion to fund the micro, small, and medium enterprise (MSME) sector. This achievement marks a 13% increase from the previous year and underscores the agency’s continued commitment to fostering economic growth and job creation.
CEO of MSMEDA, Bassel Rahmy, highlighted the agency’s dedication to increasing support in 2025, with plans to double funding and prioritize productive and industrial projects. The agency will also expand its financing efforts in border regions and Upper Egypt, aiming to enhance economic inclusivity and empower underserved areas.
In 2024, MSMEDA extended its microfinance and small enterprise programs across Egypt. The agency signed 13 agreements with companies such as Aman, Enmaa, and Credit, along with partnerships with the National Bank of Egypt and United Bank, disbursing EGP 878 million. Additionally, 41 agreements were secured with NGOs and microfinance companies, including Tanmeyah and Khair, to distribute EGP 900 million for microenterprise support.
The agency also made strides in implementing the MSME Law No. 152/2020, working closely with governmental bodies, ministries, and the parliamentary MSME Committee. This collaboration resulted in key reforms, including a three-year extension for informal enterprises to regularize their status, as approved by Prime Minister Mostafa Madbouly. MSMEDA also negotiated with the National Organization for Social Insurance to exempt regularized enterprises from retroactive contributions and collaborated with the Ministry of Finance to provide tax benefits for small business owners.
Rahmy emphasized that MSMEDA’s one-stop shops issued over 13,000 classification certificates and 12,000 benefit certificates to entrepreneurs, while more than 2,600 temporary licenses were granted to help informal businesses transition to the formal economy.
In a broader effort to promote entrepreneurship, MSMEDA organized 600 awareness seminars in 2024, benefiting 40,000 young Egyptians. Over 10,000 individuals received training in administrative, technical, and marketing skills to start or expand their businesses. Additionally, a new export unit was launched to support small exporters, helping them access international markets. This initiative resulted in doubled sales through government contracts and agreements with African and European markets.
MSMEDA also contributed to venture capital funds to support startups, including Capital Ventures 2 with USD 2.5 million and Foundation Ventures with USD 3 million, underscoring its focus on fostering innovation and entrepreneurship.
On the community development front, MSMEDA signed agreements with international donors to finance projects in villages and governorates, totaling EGP 222 million. These initiatives created 350,000 workdays and provided employment for 2,280 young Egyptians. The agency also played a vital role in the presidential “Decent Life” initiative, financing 18,500 projects worth EGP 1.5 billion and creating 62,000 job opportunities.
Rahmy noted the importance of marketing support for MSMEs, with 139 local and international exhibitions organized in 2024. These efforts culminated in the sixth edition of the “Our Heritage” exhibition, which saw participation from several Arab and foreign countries.
Reflecting on 2024, Rahmy credited the agency’s achievements to the continued support and guidance of Prime Minister Madbouly, whose leadership has enabled MSMEDA to align with the nation’s developmental priorities. As the agency gears up for 2025, it aims to expand its impact, empower more entrepreneurs, and contribute further to Egypt’s economic growth.
