National Bank of Egypt (NBE) – Wikimedia Commons
CAIRO – 8 September 2019: "National Bank of Egypt’s (NBE) credit portfolio for small projects reached LE 64 billion in 2019,” Head of SMEs sector at the bank Saad Mohy el-Din said.
Mohy el-Din added that the bank is working to reach LE 100 billion by the end of 2020 to finance and prepare feasibility studies and technical studies for the sector of small and medium enterprises.
This came during a press conference held to announce the details of the activities of the second session of the business conference 2019, which is scheduled to be hosted by Egypt in November.
Mohy el-Din said that small and medium enterprises represent most of the projects in Egypt, noting that his bank provided LE 37 billion to around 32,000 customers.
"The bank adopted most of the associations and microfinance companies by about LE 6.2 billion," he said, stressing that the bank launched the Nile Pioneers initiative aimed at providing non-financial services to provide job opportunities through small and medium enterprises.
With expectations to double the figures of previous edition, BiznEX 2018 was the first and only international business and franchise expo in Egypt. It was designed to be a one-stop-platform offering business opportunities and services from five main pillars: Commercial Investments, Local & International Franchising and Licensing, Financial & Funding Solutions, Governmental Services, Administrative & Commercial Real-estate Investment, Consultants and Service Providers for potential business owners, potential franchisees and potential entrepreneurs.
BiznEX 2018 witnessed 6,000 visitors and some 100 trading deals worth LE 150 million were signed.