Basel Rami, CEO of the Micro, Small and Medium Enterprises Development Authority (MSMEDA), announced that the agency has invested EGP 1.9 billion in Aswan from July 1, 2014 to the end of September 2024. This funding supported approximately 80,000 small and medium-sized enterprises. projects and creating approximately 109,000 job opportunities.
Rami pointed out that 160 million Egyptian pounds of this investment was allocated as subsidies for infrastructure, community development and training projects in the governorate, and approximately 1.8 million working days were created for informal labor. .
During the same period, the agency facilitated the issuance of 4,774 licenses for new projects and 206 licenses for compliance coordination, as well as providing numerous technical, marketing and non-financial services in the prefecture. .
Aswan Governor Ismail Kamal recently welcomed Rami and his delegation and discussed the status of development projects implemented by the Small and Medium Enterprises Development Agency in coordination with the Aswan Governorate. The meeting also considered future cooperation, particularly in promoting development activities under the President’s “Bedaya” initiative and supporting production projects to create more employment opportunities for the population.
As part of the visit, a 5 million Egyptian pound agreement was signed between the Agency and Om Sharabaya’s Local Community Development Association, which will provide funding to both new and existing micro-enterprises. It is part of the Aswan 5 Microfinance Initiative, a World Bank agreement aimed at supporting around 500 projects in the province.
The agreement was signed by Nevin Badr El Din, head of the central microfinance department of the agency, in the presence of Aswan Deputy Governor Amr Rashain and several officials of the agency and the province.
Additionally, the Aswan Governor and MSMEDA CEO handed over specialized clothing machines to several women to help them start new businesses or expand existing businesses. These women had completed a training course to improve their sewing and embroidery skills as part of a project to create employment opportunities for women in Upper Egypt. This initiative, funded by the Spanish Agency for International Cooperation, aims to improve their skills and support productive clusters.
Mr. Rami emphasized that the government agency is working to implement the state-approved national strategy to promote and expand financing for small businesses. The goal is to encourage self-employment and the establishment of production projects, thereby reducing unemployment and improving the living standards of the most disadvantaged families. The strategy is being implemented through a number of development programs in collaboration with international partners, government agencies and civil society organizations.
Governor Kamal praised the strong cooperation with the Small and Medium Enterprise Development Authority in supporting and developing the small and medium enterprise sector. He praised the Agency’s contribution to creating a conducive environment for investment and business establishment through various development programmes.
He further confirmed continued collaboration with the authorities to develop projects that have a competitive advantage in both local and international markets, especially handmade products produced by local artisan communities. The province is collaborating with various international development agencies, including the Spanish Agency for International Development and Cooperation, which will provide sewing machines to project beneficiaries in Aswan to help them expand their businesses and strengthen the value chain of targeted crafts. I agree. This support is followed by training programs aimed at improving skills and increasing productivity.
The Governor added that the state is working with all relevant entities to provide and provide essential services required for the establishment and sustainability of small and micro enterprises, ensuring their success and longevity.
