Banque Misr and the Micro, Small and Medium Undertaking Construction Company (MSMEDA) have signed a brand new EGP 500m financing settlement underneath the Tamkeen Microfinance 3 programme to beef up the growth and building of micro enterprises throughout Egypt.
The programme will supply financing to present micro enterprises to assist them extend their operations, create jobs, make stronger source of revenue ranges, and building up the sphere’s contribution to Egypt’s financial building.
The settlement paperwork a part of Banque Misr’s technique to fortify its function in supporting the micro, small and medium endeavor (MSME) sector, one of the crucial major drivers of monetary enlargement. It additionally aligns with MSMEDA’s efforts to extend cooperation with monetary intermediaries running within the Egyptian marketplace to extend get entry to to finance for productive and service-oriented enterprises national.
The settlement was once signed through Hossam El Din Abdel Wahab, Deputy Leader Govt Officer of Banque Misr, and Bassel Rahmy, Leader Govt Officer of MSMEDA, within the presence of Mohamed Medhat, Deputy Leader Govt Officer of MSMEDA; Maged Abdallah, Head of the SME and Microfinance Sector at Banque Misr; and Nesma El Gharably, Head of MSMEDA’s Central Microfinance Sector.
Below the settlement, MSMEDA will supply Banque Misr with EGP 500m to on-lend to eligible micro endeavor house owners. The financing will probably be used to hide running capital necessities and fund the acquisition of equipment and kit wanted for industry growth, serving to enterprises building up manufacturing, make stronger competitiveness, and create each everlasting and transient employment alternatives.
The programme additionally objectives present micro enterprises that download a tax card after the settlement’s signing. Financing for eligible beneficiaries will vary from greater than EGP 80,000 to EGP 400,000, with reimbursement sessions of between 12 and 36 months.
Talking on the signing rite, Abdel Wahab mentioned the Tamkeen 3 settlement builds at the a success partnership between Banque Misr and MSMEDA following the release of Tamkeen 1 in 2021 with EGP 500m in financing and Tamkeen 2 in 2024 with EGP 300m.
He reaffirmed Banque Misr’s dedication to its developmental function in supporting micro endeavor house owners, enabling them to extend their companies, create extra employment alternatives, and make stronger the residing requirements of Egyptian households.
Abdel Wahab added that the financial institution puts vital significance at the MSME sector as one of the crucial key pillars of sustainable financial building. He stressed out that Banque Misr will proceed to offer a variety of financing answers adapted to the desires of various buyer segments, supporting monetary inclusion and the mixing of the casual economic system into the formal sector in step with the directives of the Central Financial institution of Egypt and the state’s broader financial technique.
For his section, Rahmy reaffirmed MSMEDA’s dedication to strengthening cooperation with main banking and monetary establishments, together with Banque Misr, to beef up sustainable building, extend financing for micro enterprises, inspire self-employment, and assist scale back unemployment.
He mentioned the Tamkeen Microfinance 3 settlement paperwork a part of MSMEDA’s motion plan underneath the Ministry of Finance’s initiative to combine extra companies into the formal economic system, enabling them to get pleasure from investment-supporting regulation, the simplified tax regime offered underneath Legislation No. 6 of 2025, and the incentives and facilitation measures equipped through the MSME Construction Legislation No. 152 of 2020.
Rahmy described Legislation No. 152 of 2020 as one of the essential legislative frameworks supporting Egypt’s MSME sector. He added that MSMEDA is lately coordinating with the Area of Representatives on proposed amendments, together with updating endeavor classifications and extending turnover thresholds to higher mirror the evolving wishes of micro, small and medium-sized companies.
He additionally praised the partnership with Banque Misr, describing the settlement as additional proof of the financial institution’s pioneering function as the primary monetary establishment to take part within the executive’s initiative to assist companies transition into the formal economic system. He added that the brand new financing programme is predicted to profit round 2,500 micro enterprises, supporting financial empowerment and advancing Egypt’s formalisation schedule.
