MSMEDA Injects EGP 4.5 Billion to Support Small Businesses in Cairo Between 2014 and 2026
Basil Rahmi, CEO of the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), revealed that the agency has injected EGP 4.5 billion in funding into the Cairo Governorate between July 2014 and May 2026. This initiative aligns with the agency's ongoing efforts to support micro, small, and medium enterprises (MSMEs) and boost employment opportunities within the governorate.
In statements made coinciding with Cairo’s National Day celebrations, Rahmi explained that the total funding directed specifically toward MSMEs reached approximately EGP 4.3 billion. These funds successfully financed 98,600 projects and facilitated the creation of 181,700 job opportunities.
He added that the agency also allocated EGP 158.6 million for community and human development projects, which contributed to generating 385,800 daily wages. This underscores the agency's pivotal role in driving local development and elevating the quality of services provided to citizens.
Integrated Plans for Economic Empowerment
Rahmi emphasized that MSMEDA is actively strengthening cooperation with various development partners and governorates. The goal is to qualify the youth and introduce them to the comprehensive services offered by the agency and other state entities under investment-supporting laws. This forms part of an integrated strategy to amplify the contribution of MSMEs to the national economy while securing decent and sustainable jobs for Egyptians.
He pointed out that the agency continues its coordinated efforts with the Cairo Governorate to support diverse projects, particularly those in the productive and service sectors. By delivering financial and technical services, MSMEDA encourages citizens to pursue self-employment, launch new small businesses, or scale their existing ventures.
Furthermore, Rahmi noted that the agency simplifies the entrepreneurial journey by empowering youth with access to versatile funding products, alongside project establishment and licensing services. This comprehensive support facilitates the seamless launch of private ventures, transforming innovative ideas into economically viable projects.
Urban Upgrading and Infrastructure Development
Rahmi also highlighted that MSMEDA is implementing the Urban Upgrading Program for Unplanned Areas in Cairo and Giza, in cooperation with the Cairo Governorate. The program is funded by the European Union through a grant delegated to the French Development Agency (AFD) and focuses on developing the Zawya El Hamra and Ezbet Kheirallah neighborhoods.
He explained that this program aims to execute diverse projects that improve public services, cultivate a conducive environment for MSME growth, and generate further employment opportunities for residents.
The MSMEDA CEO affirmed that the agency remains committed to expanding MSME financing in Cairo, whether through direct funding or via intermediary institutions such as major banks and financing companies. This financial support is coupled with an intensification of free training courses offered through the agency's Cairo branch, designed to equip more youth with the skills needed to build resilient and successful businesses.