Banque Misr offered more than 15 thousand non-financial services to entrepreneurs in 2021

CAIRO, Jan 29 (MENA) - Banque Misr offered 15,620 non-financial services to around 8 thousand projects and entrepreneurs in 2021, head of the SMEs department at the bank said Saturday.

Speaking to MENA, Mohamed Antabli said this came as part of the “NilePreneurs” initiative funded and sponsored by the Central Bank of Egypt (CBE) to support small enterprises and startups in targeted economic sectors. The NilePreneurs serves the Egyptian economy and is in line with CBE mandate to support small and medium enterprises, entrepreneurship, innovation, automation, and technological advancement to increase the competitiveness of the domestic product, consequently promoting exports and reducing imports, according to him.

Driven by the desire to fulfill the goals of financial inclusion and digital transformation, the banking sector services are now expanded to include both financial and non-financial services, Antabli said.

The move comes as part of the country’s growing interest in supporting the activities of SMEs and startups, he also said, adding that the initiative could be seen as a platform for providing advisory support services, and implementable financial and non-financial solutions to improve the entrepreneurial environment and help SMEs.