Egypt’s Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has announced a new strategic plan to establish permanent markets across Africa for products made by Egyptian small and medium enterprises (SMEs). According to MSMEDA CEO Bassel Rahmy, the initiative is designed to significantly expand trade ties across the continent and drive deeper regional economic integration.
A Gateway To African Markets
The plan aims not only to create new export channels for Egyptian goods but also to help local entrepreneurs tap into Africa’s natural resources to meet their production needs. The announcement was made during the Builders of Trade Forum for the African Continental Free Trade Area (AfCFTA), highlighting the initiative’s alignment with broader pan-African trade objectives. By creating dedicated marketplaces, MSMEDA seeks to provide Egyptian SMEs with a sustainable foothold in some of the world’s fastest-growing economies.
Fostering A Supportive Ecosystem
Bassel Rahmy emphasized MSMEDA’s commitment to fostering a robust entrepreneurship ecosystem in Egypt. He noted that the agency is actively pursuing technical collaborations with both local and international partners to support small businesses. A key priority is youth empowerment and entrepreneurship, which MSMEDA addresses by coordinating with various ministries and public entities to create a more supportive business environment for emerging ventures.
Strengthening Pan-African Cooperation
This initiative is a cornerstone of Egypt’s broader strategic vision to deepen economic cooperation with African nations in trade, investment, and enterprise development. Rahmy highlighted that forums like the AfCFTA event offer an exceptional platform for Egyptian entrepreneurs to connect with their African peers, explore new markets, and learn from successful development models across the continent. This move is expected to consolidate Egypt’s economic relations through mutually beneficial partnerships and knowledge-sharing.
About MSMEDA
The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) is an Egyptian governmental body responsible for developing and implementing national policies to support and promote micro, small, and medium-sized enterprises. The agency works to foster a supportive entrepreneurial ecosystem, provide financing, and create opportunities for local businesses to grow and compete both domestically and internationally.
Source: Zawya
