Egypt’s Micro, Small, and Medium Enterprises Development Agency (MSMEDA) is intensifying its efforts to expand financial and non-financial services for women, aiming to boost their economic participation and leadership roles across the country. The initiative reflects a strong governmental commitment to fostering female entrepreneurship.
The announcement was made by Basil Rahmy, CEO of MSMEDA, during his address at the Carerha Summit for Egyptian Women 2024, a leading professional platform dedicated to empowering women in Egypt and the wider MENA region.
A Decade of Investment in Women-Led Ventures
Rahmy revealed that over the past 11 years, MSMEDA has injected EGP 18 billion into funding projects led by women across all of Egypt’s governorates. This substantial investment has been instrumental in creating approximately 1.2 million job opportunities, underscoring the agency’s long-term commitment to the economic empowerment of women.
The agency operates under a strategic framework guided by Prime Minister Dr. Mostafa Madbouly to ensure women can access its full suite of services and financial products.
Strategic Vision for a Digital and Green Future
Aligning with Egypt’s Vision 2030, MSMEDA is focusing on helping female entrepreneurs leverage artificial intelligence and digital transformation. The agency is also actively encouraging engagement in green entrepreneurship through collaborations with government ministries and major private sector institutions.
This forward-looking approach extends to funding heritage, handicraft, and innovative projects, with a core focus on promoting financial and technological inclusion. The ultimate goal is to help female founders scale their ventures from micro and small enterprises into more sustainable medium-sized businesses.
Fostering Collaboration at the Carerha Summit
The Carerha Summit served as a key platform for MSMEDA to connect with partners and exchange insights on effective development programs that prioritize women. Rahmy emphasized the agency’s readiness to collaborate with partner organizations to amplify the economic and social empowerment of women.
Yasmine Radwan, Founder and CEO of Carerha, highlighted the summit’s objective to support women in non-traditional sectors such as technology, real estate, and green entrepreneurship. She commended MSMEDA’s participation in raising awareness among attendees about the services available to help them launch or grow their businesses.
An Open Invitation to Female Founders
Rahmy extended an open invitation to women and girls across all governorates, especially entrepreneurs, to visit MSMEDA’s branches to take advantage of the facilities offered. He specifically pointed to the benefits provided under Law 152/2020 for enterprise development, reaffirming the agency’s commitment to supporting every Egyptian woman aspiring to enter the workforce and establish an impactful project.
About MSMEDA
The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) is an Egyptian governmental body responsible for developing and supporting the SME sector in Egypt. The agency provides a comprehensive range of financial and non-financial services, including funding, training, and technical support, to foster entrepreneurship, create jobs, and contribute to the nation’s economic development.
Source: ArabsVoice
