Egypt’s Micro, Small and Medium Enterprise Development Agency (MSMEDA) has signed a EGP 250M ($4.93M) financing agreement with Aman Holding to expand funding for microenterprises and entrepreneurs across the country.
The financing is expected to support around 2,500 microenterprises, with up to EGP 292,000 available for each project, according to MSMEDA. The funds will support business development, replacement and renewal, helping operators strengthen their productive capacity and sustain their activities.
Aman Holding, a subsidiary of Raya Holding, will deliver the financing through its network of 233 branches across Egypt. The company said the network will provide flexible and fast financing solutions for business owners.
The partnership is part of MSMEDA’s efforts to expand microfinance through financing companies and support businesses seeking to enter Egypt’s formal economy. The agency said the agreement also aligns with efforts to promote entrepreneurship and self-employment, particularly among young people and women.
By widening access to formal financial products, the deal could help more microenterprises develop and expand while contributing to broader financial inclusion across Egypt.
Source: Waya
