Latest in Tag: SMEs Highlight
Latest in Tag: SMEs
Simplified tax system could be applied to SMEs: Egypt’s Finance Minister
Addressing business owners, Egypt’s Finance Minister said, “You will not go to the tax authority, and a tax officer will not visit you.”
16 SMEs named to implement digital transformation projects at government agencies
15 digital transformation projects to be carried out at total value of more than EGP 43.5m
EIB, Banque Misr partner to speed up SMEs recovery from COVID-19 in Egypt
€425m to support Egyptian SMEs, mid-caps
Egypt’s microfinance records EGP 42.7bn in September
Mona Zulfikar, Chairperson of the Egyptian Microfinance Federation said that the beneficiary base rose by 0.5% to 3.9 million customers in Q3 of 2020
Al-Sisi directs for integration of Suez Canal Economic Zone industrial projects
President reviewed the most important productive activities to be established within the Suez Canal Economic Zone to localise industry
Government reviews latest developments in ‘Your Work in Your Village’ initiative for SMEs
384 industrial complexes, 650 medium projects, and 2k small and micro enterprises will be established, providing 330k jobs: Minister Shaarawy
SASME’s loans to agricultural SMEs reach EGP 945m until September
The funding was given to 11,179 beneficiaries, all of whom are small- and medium-sized enterprises (SMEs) working in the agricultural sector. A total of 1,295 guarantees amounting to about EGP 1.3bn has also been provided. The programme benefits 34 sectors across 22 governorates.
EBRD grants €2bn to banks in Egypt for on-lending to SMEs during COVID-19
World faces at least three immediate challenges, namely supporting economic recovery, building back better, and combating climate change, says EBRD
Egypt, Italy sign 2 agreements to support SMEs, Robiki Leather City
Ongoing Egyptian-Italian cooperation portfolio amounts to about €73.6m distributed across many vital sectors
EIB, NBE sign € 800m Financing Agreement to ensure resilient post-COVID-19 recovery for SMEs
In a statement, the minister added that the agreement between the two banks comes as part of a larger agreement approved by the EIB worth€1.9bn, where €1.1bn will be provided for the transport sector and €800m for SMEs.
72% of SMEs in Zambia not able to raise funds due to COVID-19
The research further established that about 40% of firms in Zambia were seeing a significant drop in revenues due to COVID-19 pandemic
Egypt’s Mashro’ak provides EGP 14.6bn in finances to 150,000 SMEs since its founding
The funding, which was provided between the project’s inception until the end of July, has helped provide 826,000 job opportunities for young people involved with these projects.
Government launches SMEs digital transformation initiative
The event was attended by Minister of Public Enterprises Sector Hisham Tawfik, Minister of Trade and Industry Nevine Gamea, FEDCOC Head Ibrahim El-Arabi, and Chairperson and CEO of Benya Capital Ahmed Mekki.
26% of SMEs suspends activities during January-May due to COVID-19: Report
In some countries, this percentage increased to as high as 50%, as government lockdowns and a global economic slowdown negatively impacted the companies around the world.
MSMEDA develops plan to improve SMEs sector post-COVID-19: Trade Minister
Gamea explained that the agency is keen to meet with governors and leaders of the authorities working in the SMEs sector.
Contracting SMEs are biggest beneficiaries of NBE financing initiative
NBE initiative will absorb large part of Egypt’s informal employment and reduce unemployment rates
ITIDA, Banque Misr cooperate financing ICT-focused SMEs at 5% interest
Protocol aims to provide appropriate, encouraging financing climate for SMEs working in Egypt’s ICT sector, says Amr Talaat
Egypt allocates EGP 8.5bn to establish 13 industrial parks for SMEs
Companies face decrease in labour-supply due to ongoing COVID-19 circumstances
Communications Minister launches digital initiative helping SMEs cope with pandemic
At least 10% of digital projects to be awarded to SMEs under initiative, to achieve partnerships with small and emerging companies
Free digital platform supporting SMEs launched to tackle consequences of COVID-19
The initiative aims to provide SMEs with services to implement business continuity measures as they face the repercussions of the ongoing health crisis.
Banque du Caire, EIB sign $100m loan agreement to finance SMEs
Fayed also emphasised that Banque du Caire’s keenness to boost and diversify its foreign currency funding resources is directed at financing SMEs, which are a cornerstone in economic growth and sustainable development.
Knowhow gives SMEs free e-marketing services in April
The move aims to bolster smaller companies and help them deal with the lower revenues crisis caused by the coronavirus (COVID-19) outbreak in Egypt.
Finance Ministry rejects SMEs law article amendments
MSMEDA given five years, administrative detention stopped
EBRD to direct €200-300m for Egypt’s SMEs in 2020
We hope to assist 200 projects through new Ismailia office, says Khalid Hamza
Talks to use Industry Ministry’s untapped lands to launch SMEs
Both sides also discussed ways to enhance bilateral cooperation to increase Egyptian exports to the African market, as part of the Gosoor (Bridges) initiative, which aims to boost intra-trade between Egypt and other African countries. The initiative targets, in its first stage, 10 East African countries.
Bank Audi Egypt targets SMEs portfolio of EGP 5bn by 2019 end: managing director
The bank’s bad loans do not exceed 4%
CIB launches comprehensive loan programme for SMEs
New programme offers wide-range products catering to the needs of SMEs
Instagram will become the main marketing platform for 73% of SMEs: YouGov
According to Instagram, its community contains more than a billion people around the world.
BM signs a loan agreement with the EIB worth € 500m to finance SMEs
Banque Misr’s portfolio of SMEs reaches EGP 26bn by the end of September 2019
MSMEDA participates in Financing SMEs and Strat-ups Forum in Jordan
Authority has financed 545,000 small and micro projects, creating 850,000 jobs in last two years, says Gamea