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Egypt’s Nile Pioneers initiative, operated under the Central Bank of Egypt, has expanded its support network for entrepreneurs and businesses to 140 business development centers across 25 governorates, providing around 1.3 million non-financial and advisory services to approximately 589,000 beneficiaries and contributing to financing worth nearly EGP 24 billion.

Women accounted for about 41% of the initiative’s beneficiaries, as the program seeks to improve businesses’ access to financial and non-financial services while strengthening their ability to grow and remain sustainable.

1.3 Million Non-Financial and Advisory Services

Tarek El Kholy, Deputy Governor of the Central Bank of Egypt, disclosed the figures during his address at the CERISE+SPTF Global Meeting 2026, hosted by the Egyptian Federation for Medium, Small and Micro Enterprises Financing from September 29 to October 1.

The international conference is being held under the patronage of the Council of Ministers, with participation from the Central Bank of Egypt, the Financial Regulatory Authority and several local and international institutions and organizations.

El Kholy said the Central Bank’s approach goes beyond increasing the volume of financing available to businesses. It also focuses on providing non-financial and advisory services that help business owners develop their operations and improve their ability to engage with financial institutions.

Nile Pioneers supports this approach through its network of business development centers across Egypt, providing entrepreneurs and business owners with assistance, consulting and capacity-building services aimed at improving access to financial and non-financial services.

Supporting Formalization of Businesses

The Deputy Governor said the strategy for supporting businesses also seeks to help activities operating outside the formal sector gradually transition into the formal economy, enabling them to establish financial and credit records and make greater use of banking and financing services.

He explained that the Central Bank has developed mechanisms to work with businesses that may not have audited balance sheets or financial statements during the early stages of their operations. These mechanisms assess the business activity, financial behavior and repayment capacity before gradually preparing businesses to maintain regular accounts and financial positions.

El Kholy said these mechanisms, together with services provided by Nile Pioneers, help businesses become more prepared to obtain financing while strengthening their capacity for growth, sustainability and integration into the formal sector.

He stressed that financial inclusion is not limited to increasing financing volumes, but requires an integrated system combining financing, non-financial services, awareness and capacity building to expand the ability of small and micro enterprises and entrepreneurs to access the formal financial sector.