Small and Medium Enterprises
Egyptian Exchange (EGX) indices went down collectively at the close of Thursday's trading, pushed by sales by Arab and foreign investors, amid anticipation that new incentives would be introduced for the market.
Funds are also channeled to many companies in the fields of leasing finance and micro-enterprises, according to Gamea.
Recognizing the critical role SMEs play in achieving economic resilience, Egypt has launched several initiatives to drum up much-needed financing for small enterprises, but there are still some obstacles hindering their growth.
An Egyptian business team will be dispatched to Djibouti soon to probe the establishment of a logistic zone there, Trade and Industry Minister Tareq Qabil said on Thursday.
Micro-small projects received LE 1.3 billion in funds from Banque Misr given to 58,634 clients until the end of June.
“SMEs can’t trade by themselves but they can be a growing engine to promote exports in the country,” Oramah said.
The deals come in line with the state’s current policy towards promoting and developing SMEs, which contribute to providing more job opportunities.
The second phase of the My Association (gam'ity) project launched Monday, according to Minister of Supply Ali Moselhi.
SMEs regulations have become “incompatible” with the current economic conditions, SMEs authority head said.
Banque Misr’s chairman Mohamed el-Etreby signed Wednesday $200 million loan with the African Export and Import Bank (Afreximbank).
The African Import and Export Bank (AfrixemBank) will pay a $200 million loan to Banque Misr to finance small and medium enterprises (SMEs).
