Tuesday May 21st, 2024
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MSMEDA Launches Initiative to Empower Female Entrepreneurs in Egypt

Their new program, ‘Aziza’, offers soft loans and training to women across the Egyptian governorates.

Cairo Scene

 MSMEDA Launches Initiative to Empower Female Entrepreneurs in Egypt

The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has announced the launch of ‘Aziza’, a new initiative that aims to support women in creating and owning small businesses. This program offers soft loans, whose terms favour the borrower, to women who are hoping to expand existing projects or begin new enterprises.

As well as financial support, MSMEDA is providing technical training and marketing assistance to women to help their businesses flourish. MSMEDA is particularly interested in supporting businesses in the industrial, productive, and agricultural sectors, as these businesses have the potential to compete in both local and international markets.

When announcing the launch of this program, MSMEDA’s CEO Basil Rahmi highlighted the congruence between the agency’s goals and the goals of the Egyptian government. Attending the launch event were officials from Sylvain Merlin, the UN Development Program, and the World Bank, as well as female entrepreneurs who were able to describe how MSMEDA’s non-financial services, such as its training sessions and exhibitions, had been instrumental to the success of their businesses.

MSMEDA’s funding can be accessed through any of the organisation’s branches, which are located throughout Egypt.