In a significant move to bolster Egypt’s economic backbone, the Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has announced a landmark EGP 300 million (approximately $5.7 million) financing agreement with Aman Holding, a leading fintech group and portfolio company of Raya Holding. The partnership is designed to channel vital funding to small and medium enterprises (SMEs) across the nation’s governorates.
The agreement was formalized in a signing ceremony attended by Bassel Rahmy, CEO of MSMEDA, alongside Hazem Moghazi, Co-CEO of Business and Commercial Affairs, and Ayman Basyouni, CFO at Aman Holding.
A Strategic Push For Economic Growth
This financing initiative is a core component of the Egyptian government’s broader strategy to stimulate economic activity and foster sustainable development. By providing SMEs with access to capital, the program aims to help these businesses scale, meet growing market demand for local products and services, and ultimately create valuable job opportunities across the country.
Bassel Rahmy, CEO of MSMEDA, said the partnership will empower entrepreneurs to upgrade their operations, enhance production quality, and strengthen their competitive edge. The collaboration aligns with national goals to increase the contribution of SME products, particularly by reducing reliance on imports and boosting exports.
Championing Financial Inclusion
The collaboration extends beyond simple financing, reflecting MSMEDA’s strategic focus on partnering with diverse financial institutions to drive economic inclusion, with a particular emphasis on supporting women and youth-led businesses.
Rahmy added that the cooperation with Aman Holding aims to bring more entrepreneurs into the formal financial ecosystem, helping them grow their businesses sustainably.
Formalizing the Informal Sector
A key objective of the partnership is to encourage businesses operating in the informal economy to transition into the formal sector. By doing so, these enterprises can unlock a range of benefits and incentives provided under Egyptian law.
This move allows SMEs to take advantage of incentives offered under Law 152/2020 and Law 6/2025, which include significant tax benefits and other forms of government support designed to foster growth and stability.
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. It provides a range of financial and non-financial services to foster entrepreneurship, create jobs, and contribute to the national economy.
About Aman Holding
Aman Holding is a leading Egyptian fintech group and a portfolio company of Raya Holding. It offers a comprehensive suite of financial services, including e-payments, consumer finance, and SME financing, with a mission to advance financial inclusion across Egypt through technology-driven solutions.
Source: Zawya
