Egypt’s Micro, Small and Medium Enterprises Development Agency plans to establish a dedicated entity for financing activities as part of a broader restructuring of its operations, according to an announcement.
The proposed model would separate financing from the agency’s development role. The new entity would handle financing, while the agency would focus on supporting entrepreneurs through technical assistance, growth capital, stronger governance and company development.
The plan was presented by the agency’s CEO, Mostafa Ismail, during a meeting with Prime Minister Mostafa Madbouly in New Alamein. Ismail said the agency aims to become a key enabler of entrepreneurship, business growth and exports, while improving how it serves startups and fast-growing companies.
Planned support includes capacity-building programs, training in entrepreneurship and financial management, access to technical and legal advisers, and new local and international marketing channels. The agency is also reviewing international models that use innovative financing tools and separate lending from technical support.
Madbouly stressed the agency’s role in supporting Egypt’s small and medium-sized businesses, entrepreneurs and innovators, and called for continued improvements to its operating model and services.
Source: Economy Plus
