Latest in Tag: SMEs Highlight
Latest in Tag: SMEs
2nd round of Ezdehar programme kicks off to accelerate SMEs growth in chemical industries
65 companies have applied for the second round of the programme
CIB launches new marketing campaign to highlight its continuous support for SMEs
Bank is committed to understanding needs of SMEs, challenges they face to provide them with suitable solutions
Egypt’s CIB launches Sustaining SMEs programme
The programme targets the integration of ESG principles into Egypt’s small- and medium-sized enterprises across different sectors as well as the development of innovative sustainable finance products tailored to cater to the needs of SMEs and corporates.
aiBANK launches campaign to finance SMEs with EGP 10m
This campaign is in line with the Egyptian Government and the Central Bank of Egypt’s directives focused on supporting SMEs and builds on the Bank’s strategy and expansion plan to introduce innovative financial solutions that aid the sustainable development of this promising sector. This campaign also aims to raise awareness of the competitive advantages offered by the Bank through this product, which aims to bridge the financing gap and attract small businesses as new customers. By financing these small businesses, the bank will support job creation and drive economic growth, allowing it to deliver on its goals of providing sustainable financing solutions.
Suez Canal Bank launches new financing product for SMEs up to EGP 5m
The new product provides financing of up to EGP 5m for SMEs operating in commercial and industrial activities, specially contracting, and activities related to renewable energy. The financing is provided with a special interest rate and a repayment period of up to 5 years.
MSMEDA pumped EGP 40bn to finance 1.6m SMEs over the past eight years
Over 1,000 exhibitions were organised where sales, contracts exceeded EGP 500m: Trade Minister
EBRD offers $25m in finance to SMEs in Egypt through EBank
EBank staff will also receive training and capacity-building opportunities to better serve financial needs of women-led SMEs
Egypt’s MSMEDA provides appropriate environment for SMEs to expand: Trade Minister
Furthermore, Gamea said that the MSMEDA is currently communicating with owners of small enterprises in industrial complexes in seven governorates, namely Beni Suef, Minya, Sohag, Luxor, Gharbeya, Alexandria, and the Red Sea to determine their needs for specialised financing programmes or various technical services for training, marketing, and other technical support services.
Catalyst Partners launches EGP 400m fund for SMEs
Fund targets to reach EGP 1bn within 5 years: Chairperson Maged Shawky
CBE conducts survey to find out needs of SMEs: Deputy Governor
Funding is no longer biggest challenge facing SMEs, as they need non-financial technical support: Gamal Negm
SMEs Development Agency allocates EGP 1.4bn to ‘Decent Life’ initiative: Official
During a workshop organised by MSMEDA on the new project development law on Tuesday, Badr El-Din added that further EGP 1bn were pumped to finance various projects, including EGP 900m for micro-enterprises. She noted that a new financing product will be launched by the agency that will prioritise solar energy during the coming period.
HSBC Egypt launches EGP 3bn ‘Foras Trade Fund’ for SMEs
Todd Wilcox, Deputy Chairperson and CEO of HSBC Egypt, said: “SMEs are a vital engine of growth for any economy and we are delighted to launch the HSBC Foras Trade Fund to support them. The fund is designed to help strong Egypt businesses with bold visions to enter new trade markets, re-engineer their supply chains, innovate, and to play an active part in supporting the ongoing growth, modernisation and diversification of the country’s economy.”
Government keen to stimulate SMEs to boost economic growth: Finance Minister
The minister said, in a statement issued by the Ministry of Finance on Saturday, that the past three years witnessed maximizing the participation of small and micro enterprises in meeting the needs of government agencies, explaining that small and micro companies won 75.8% of government contracts during fiscal year (FY) 2020/21, compared to 69.6% in FY 2018/19.
CIB Egypt, Visa sign 5-year deal to support SMEs
Partnership will attract new entrepreneurial flows into local market
Government pumps EGP 21bn into 180,000 SMEs: Local Development Ministry
Mahmoud Sharawy, Minister of Local Development, said that the national project for community, human and local development “Mashrouak” (Your Project) has contributed, since the start of FY 2021/2022, to the implementation of 3,500 projects, with funding of EGP 746m. These projects have contributed to generating about 42,000 jobs. The total projects implemented by “Your Project” …
EGX extends deadline for listed SMEs to contract registered sponsor until 31 August
Sponsor will assist SME market listed companies to develop their investor relations
Egypt’s capital market is key funding source for economic growth, SMEs stimulation: Madbouly
Prime Minister witnesses launch of ‘Tamayuz’ index to measure SMEs market performance
SMEs, startups, youth key to increased inter-African investments: EJB Chairperson
EJB announces African Junior Business Initiative during IPAs Africa Forum
EGX to launch Tamayoz index methodology for SMEs market in days
Decision taken to oblige exporting companies to contract with registered sponsors for structuring process, develop investor relation capabilities
Egypt’s SMEs development agency permits clients to pay loan instalments online
These companies include Waqty, Amwal, and Tal2a, with payments possible through more than 15,000 service outlets available across the country belonging to these companies.
Egypt’s SMEs Development Agency allocates EGP 75m to convert 9,500 cars to natural gas
Vehicle owners can pay for conversion in instalments over 1-5 years
New SMEs law enters into effect after executive regulations issued
Trade Minister Nevine Gamea invites SME owners to obtain project classification certificate to enjoy benefits, incentives of new law
Egypt’s SMEs Development Agency allocates EGP 76m to youth training in 11 governorates
Training programmes developed based on market needs, it is planned that 600 job opportunities would be provided for youth after completing training
Suez Canal Bank to increase contribution in car replacement initiative, puts SMEs finance plan
Bank’s SMEs portfolio reaches EGP 2bn, retail banking records EGP 1.2bn in 2020, says Chairperson Hussein Refaey
Egypt injects EGP 9.1bn to fund women’s SMEs in almost 6 years
Country provides 623,500 loans for small, micro projects from July 2014 to late 2020
EU Ambassador to Egypt visits new SMEs in Minya
EU-funded projects were implemented under agreement of addressing root causes of irregular migration
Planning Ministry, Rise Up launch “Messenger Bot” to help SMEs in MENA
Bot to serve as reliable source of information and guidance to assist start-ups at each stage: Founder of Rise Up
Mashrouak programme provides EGP 17.3bn in loans to 164k SMEs: Official
Local market banks involved in project agree to increase lending rates in next stage, says Local Development Minister
Federation of Commerce Chambers lends support to SMEs in 3 governorates
FEDCOC signs cooperation protocols with Egyptian banks to provide easy financing mechanism for youth
New tax facilitation in pipeline for SMEs: Trade Minister
MSMEs exempted from stamp tax, documentation fees, while custom duties on machinery, equipment reduced from 5% to 2%