The Egyptian Micro, Small, and Medium Enterprises Development Agency (MSMEDA) have joined forces with eAswaaq Misr, a digital platform developer, to oversee the management, operation, and marketing of Egypt’s first-ever digital services platform dedicated to SMEs, as per an official statement released by the cabinet on Sunday.
Expected to go live within three months, the digital platform will serve as a comprehensive hub encompassing all entities offering financial and technical support to SMEs, the statement further elaborated.
Bassel Rahmy, CEO of MSMEDA, highlighted the collaborative nature of the online SME digital services platform, involving a wide array of competent authorities such as banks, non-profit organizations, and government bodies. This collective effort aims to streamline and enhance the accessibility of crucial services for SMEs in Egypt.
MSMEDA’s partnership with eAswaaq Misr, which falls under the umbrella of E-Finance for Digital and Financial Investments, represents another significant stride in its ongoing commitment to empowering SMEs. The agency has been at the forefront of various initiatives geared towards assisting Egyptian SMEs.
One such recent endeavor involves a financing agreement worth 150 million Egyptian pounds signed with the Saudi Arabia Grant Management Committee (SAGMC) on Tuesday. This agreement aims to provide support for small-scale industrial projects in Egypt, bolstering the growth and development of the SME sector.
The collaboration between MSMEDA and eAswaaq Misr underscores the commitment of Egyptian authorities and digital platform developers to foster a conducive environment for SMEs, enabling their advancement, innovation, and economic contribution. The forthcoming digital services platform is poised to play a pivotal role in facilitating access to essential resources for SMEs, ultimately propelling their success and amplifying their impact on the Egyptian economy.
