The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) and the United Nations Development Programme (UNDP) are strengthening their long-standing collaboration to enhance Egypt’s small business sector and entrepreneurial environment. The announcement came after a field visit by Bassel Rahmy, CEO of MSMEDA, and Chitosi Noguchi, UNDP Resident Representative, to several industrial projects, reaffirming their joint commitment to creating sustainable job opportunities.
Quick Facts
- 35-year strategic partnership between MSMEDA and UNDP.
- MSMEs constitute 98% of Egypt’s private sector.
- Women represent nearly 50% of microfinance beneficiaries.
A Three-Decade Alliance
Bassel Rahmy highlighted the strategic partnership with the UNDP, which dates back 35 years to MSMEDA’s inception as the Social Fund for Development. He emphasized the UNDP’s pivotal role in helping the agency develop Egypt’s enterprise sector by implementing best practices, particularly in emerging fields like the green economy, innovation, and modern technology.
“The UNDP has played a major strategic and pivotal role in supporting the Agency to carry out its tasks in developing the enterprise sector in Egypt through cooperation to apply the best development practices,” Rahmy noted.
Fueling a New Generation of Entrepreneurs
The renewed focus of the partnership aims to provide financing and support services to create a more encouraging climate for youth investment and new ventures. This aligns with government directives to integrate economic and social targets into all of MSMEDA’s activities, with a special emphasis on economically empowering women and improving living standards in underserved areas.
Chitosi Noguchi pointed out the critical role of small and medium-sized enterprises in the national economy, which includes about 3.8 million establishments. “With more than 800,000 young men and women joining the labor market annually, entrepreneurship emerges as a vital path for job creation and inclusive growth,” she said.
Noguchi added, “For more than 3 decades, the UNDP in Egypt has been proud of its extended partnership with MSMEDA to empower the entrepreneurship ecosystem in Egypt and expand the opportunities available to entrepreneurs, especially through digital transformation efforts that contribute to improving the level of services and facilitating access to them.”
Spotlight on Innovation and Green Projects
The collaboration will increasingly focus on supporting innovative and green projects that can drive sustainable and resilient economic growth. Noguchi stressed that the impact goes beyond metrics, highlighting the individuals behind the numbers.
“Today’s visit is not limited to reviewing indicators, but highlights the entrepreneurs behind these numbers; they are individuals who, with their determination and persistence, are creating a better future and promising income sources for their families and communities,” she concluded.
During the visit, Rahmy and Noguchi met with successful entrepreneurs who have expanded their production capabilities and even entered export markets with support from MSMEDA. These businesses were awarded classification certificates, which qualify them for incentives under laws supporting the SME sector.
About MSMEDA
The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) is the official government body mandated to formulate and implement national policies and strategies for the development of MSMEs and entrepreneurship in Egypt. It serves as a central hub for supporting small businesses through financing, technical assistance, and policy advocacy.
Source: El Watan News
