New alamein city: Dr. Mostafa Madbouly, the Prime Minister, convened a meeting to evaluate key topics and work files associated with the Micro, Small, and Medium Enterprises Development Authority (MSMEDA). The meeting, held at the government headquarters in New Alamein City, included Dr. Rania Al-Mashat, Minister of Planning and Economic Development and International Cooperation, Mr. Ahmed Kouchak, Minister of Finance, Mr. Basel Rahmi, CEO of MSMEDA, Mr. Hisham Gowayed, General Manager of the Banking Control Sector at the Central Bank of Egypt, and other officials.
According to State Information Service Egypt, the Prime Minister underscored the essential role MSMEDA plays in supporting and fostering growth among micro, small, and medium enterprises across various sectors. He emphasized the need for continuous efforts to maintain the financial sustainability of the authority and enhance its capability to meet its objectives under a new comprehensive vision.
During the meeting, the Minister of Planning and Economic Development and International Cooperation discussed the ministry's coordination with international financial institutions to bolster MSMEDA's activities. The minister also highlighted the importance of aligning efforts between the authority and similar entities that organize exhibitions, aiming to maximize the benefits derived from these initiatives.
The Minister of Finance stressed the need to evolve MSMEDA's working methods and intensify collaboration with international donor financial institutions. This collaboration aims to support ongoing programs and initiatives, particularly those related to entrepreneurship. The Minister also emphasized the importance of preparing initiatives that support MSMEDA's work, increase its client base, and assist exporters, thereby enhancing Egyptian exports across various sectors.
Mr. Basel Rahmi, CEO of MSMEDA, reviewed the steps taken in collaboration with various entities to ensure MSMEDA's financial sustainability and ongoing developmental roles. He highlighted the authority's support for traditional, heritage, and artisanal products and its provision of marketing advice for export purposes. Rahmi also discussed institutional development and governance procedures implemented since 2023 to improve financial efficiency.
Rahmi shared performance indicators for 2025, noting an increase in financing percentages for projects through direct lending and medium enterprises compared to previous years. The financing for productive projects such as industrial, agricultural, and animal sectors also saw significant growth. Rahmi emphasized that these developments have created more job and export opportunities.
Mr. Basel Rahmi also addressed the upcoming "Heritage" exhibition, set to launch in October, expecting participation from around 1,200 exhibitors, with a focus on new participants and projects joining the formal sector. The exhibition aims to increase women's participation and encourage financial inclusion activities. For the 2024 "Heritage" exhibition, participation included 385 exhibitors from civil society organizations, 141 exhibitors with disabilities, and 331 individual exhibitors, with women making up 74% of participants and over 150,000 visitors attending.