Latest in Tag: MSMEs Highlight
Latest in Tag: MSMEs
First open-finance platform revolutionises MSMEs ecosystem in Egypt
Robust joint venture between Damen, CashCall, and AUR Fintech
Egypt focuses on MSMEs as they represent 98% of private sector: CBE
Egypt has 3.4 million micro-sized businesses, 2,200 medium-sized enterprises, and 217,000 small-sized businesses: CBE Sub Governor
Banks in Egypt finance MSMEs with over EGP 400bn during 2021
Egypt has more than 3 million MSMEs
Incentives give Egyptian MSMEs chance to boost production, profits: Finance Minister
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.
Government discusses launching integrated database for MSMEs
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 …
Egypt, Saudi Arabia launch website for financing MSMEs
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.
Supporting entrepreneurship, MSMEs among Central Bank of Egypt’s priorities: Sub Governor
CBE has facilitated procedures for granting finance without approved financial statements
Egyptian government, banking sector take strong action to support MSMEs
National Bank of Egypt receives $100m from European Investment Bank to support SMEs
Amazon Payment Services waives service fees for new MSMEs
Move comes in support of CBE initiative to encourage transition to digital payments in Egypt, and will last over Ramadan
HSBC, Reefy sign EGP 150m revolving facility for Egyptian women-led MSMEs
Agreement supports CBE aim to raise microbusinesses, SME sector contribution to formal economy, women empowerment
Egypt keen to continue organising exhibitions for MSMEs
60% of project owners in current Bazaar exhibition are participating for first time
Banks to inject EGP 117bn into MSMEs until 2022 end: CBE
Banks in Egypt required to increase financing to MSMEs to 25% of credit facilities portfolio
New tax incentives encourage informal MSMEs to join formal economy: Finance Minister
No tax accounting for these projects for years prior to date of submitting reconciliation requests, says Mohamed Maait
Paynas, Visa, and Banque Misr partner to launch digital platform for MSMEs, contractors
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.
EBRD grants Banque du Caire $50m loan to support MSMEs
The loan will assist the Egyptian bank in developing its MSME lending activities, and expand access to finance for underserved MSMEs.
MSMEs make up 80% of African economy, employ 70% of total population: COMESA
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.
SANAD, Banque du Caire strengthen partnership to support MSMEs in Egypt
NEW loan of $15m bolsters funding base for important economic pillars
EBRD launches online learning hub for MSMEs
New platform to provide crisis management advice to help over 10,000 companies in 30 countries
Parliament approves MSMEs Law
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 extends non-payment risk policy instalments deadline for MSMEs
FRA chairperson Mohamed Omran said that instalments to be collected starting early March to September without imposing any delay fines.
World Bank Group, Partners launch new initiative to expand A2F for MSMEs, drive growth, jobs in MENA
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.
ICSB aims to create 600m job opportunities over next 10 years
About 80% of entrepreneurs fail, that is why business incubators are very important
Banks in Egypt inject EGP 144.2bn to finance MSMEs from Dec. 2015 to June 2019: CBE
Service sector received EGP 62.2bn banking funds, while industrial sector got EGP 43.1bn
Finance Ministry offers tax, non-tax incentives in MSMEs draft law
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.
Banque Misr allocates EGP 13bn for MSMEs in FY 2018/19
Bank signs cooperation protocol with universities to provide workspaces for entrepreneurs
MSMEs account for 75% of ABE’s loans portfolio by end October: chairperson
Bank pumped EGP 605m to 1,314 clients in CBE’s initiative, says Elkosayer
MIDB, SMEDA sign cooperation protocol to funds MSMEs
Protocol extends over 1 year, financing between EGP 500,000, EGP 10m
$10m loan to finance MSMEs from SANAD in partnership with Banque du Caire
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 …
MSMEs Development Agency starts providing services to Shaq El-Teaban investors
A special office to provide financial and non-financial services to SMEs as well as technical training and marketing support
Egyptian Agricultural Banks signs contract with MSMEs for EGP 250m
The contract aims to finance 23,000 new and existing projects to provide 4,600 jobs in the sectors of agriculture and livestock