The Micro, Small & Medium Enterprise Development Agency (MSMEDA) has signed two financing agreements with Tamweely Financial Services worth a total of EGP 350m to boost micro-enterprises. The contracts were signed by MSMEDA CEO Basel Rahmy and Tamweely CEO Ahmed Khorshid, in the presence of senior officials from both sides.
Rahmy stated that the first contract, valued at EGP 100m, was coordinated with the Ministry of Finance and the Egyptian Tax Authority to strengthen micro-projects and encourage their integration into the formal economy. The second contract, worth EGP 250m, aims to establish new micro-projects and support existing ones in expansion, modernization, and renewal. Together, the agreements are expected to finance about 3,000 projects, with a maximum of EGP 292k per project.
Khorshid emphasized that the deals reflect the strategic partnership and mutual trust between MSMEDA and Tamweely. He noted that the financing will expand support for growing enterprises, enhance productivity, create jobs, and increase the sector’s contribution to the national economy. He added that a key objective is integrating informal businesses into the formal economy, enabling them to access organized financial services and improve sustainability.
This initiative supports Egypt’s financial inclusion goals and aligns with Vision 2030.
