MSMEDA injects EGP 2.6bn to support over 95,000 small, micro projects in Qena
Basil Rahmy, CEO of the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), announced that the agency has provided EGP 2.6bn in funding for over 95,000 small and micro projects in Qena between July 2014 and December 2024. This initiative has created more than 142,000 job opportunities, reinforcing the agency’s role in fostering economic development in Upper Egypt.
Rahmy reaffirmed MSMEDA’s commitment to supporting both new and existing businesses in the governorate through financial and non-financial services. Speaking on the occasion of Qena’s National Day, he congratulated the governor, local youth, and MSMEDA’s beneficiaries, emphasizing the agency’s dedication to empowering entrepreneurs and expanding access to finance and business development services.
“Our efforts align with government directives to support Upper Egypt’s youth, encourage entrepreneurship, and enhance the business climate,” Rahmy stated. “We are committed to broadening our financing programs across various sectors while strengthening partnerships with local authorities and development institutions.”
He highlighted the agency’s ongoing collaboration with Qena and other relevant entities to establish a supportive ecosystem for small and micro businesses. By leveraging the governorate’s natural resources, MSMEDA aims to promote new startups and facilitate business expansion, ensuring entrepreneurs have easy access to both financial and technical assistance.
To further streamline business operations, MSMEDA continues to enhance its financial and technical support programs while simplifying registration procedures. In Qena alone, more than 7,000 final business licences and 7,889 temporary licences have been issued for new projects. Additionally, over 5,300 classification and benefits certificates have been granted, enabling businesses to capitalize on the incentives offered under Law 152/2020.
Rahmy underscored the agency’s belief in the potential of entrepreneurs, recognizing their energy and innovation as key drivers of economic growth. “MSMEDA remains committed to equipping entrepreneurs with the necessary tools and resources to transform their ideas into successful, sustainable businesses,” he concluded.
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