MSMEDA, Aman Holding sign EGP 250M facility deal
· Egyptian market news · ARAB
The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has signed a new financing agreement with Aman Holding, a subsidiary of Raya Holding, according to an emailed press release.
Under the agreement, MSMEDA will provide Aman Holding with EGP 250 million in financing to expand access to funding for microenterprise owners and entrepreneurs across Egypt’s governorates.
Mostafa Hassan, CEO of MSMEDA, said the new facility will support the development, replacement, and renovation of micro-enterprises, enhancing their productive capacity and sustainability.
Hassan added that around 2,500 micro-enterprises are expected to benefit from the financing, with a maximum allocation of EGP 292,000 per project.
The collaboration is part of ongoing efforts to broaden financial inclusion and integrate more businesses into the formal economy, enabling them to access suitable financial services and products and strengthening their ability to grow and expand.
In March, the MSMEDA penned a deal with Aman Holding to provide EGP 300 million in financing to support small and medium enterprises (SMEs) across the country.