Banque Misr and the Micro, Small and Medium Undertaking Building Company (MSMEDA) have signed a brand new EGP 500m financing settlement beneath the Tamkeen Microfinance 3 programme to reinforce the growth and building of micro enterprises throughout Egypt.
The programme will supply financing to current micro enterprises to lend a hand them make bigger their operations, create jobs, beef up source of revenue ranges, and build up the field’s contribution to Egypt’s financial building.
The settlement paperwork a part of Banque Misr’s approach to beef up its position in supporting the micro, small and medium endeavor (MSME) sector, some of the primary drivers of financial enlargement. It additionally aligns with MSMEDA’s efforts to make bigger cooperation with monetary intermediaries working within the Egyptian marketplace to extend get admission to to finance for productive and service-oriented enterprises national.
The settlement used to be signed through Hossam El Din Abdel Wahab, Deputy Leader Government Officer of Banque Misr, and Bassel Rahmy, Leader Government Officer of MSMEDA, within the presence of Mohamed Medhat, Deputy Leader Government 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.
Beneath the settlement, MSMEDA will supply Banque Misr with EGP 500m to on-lend to eligible micro endeavor homeowners. The financing can be used to hide operating capital necessities and fund the acquisition of equipment and gear wanted for industry enlargement, serving to enterprises build up manufacturing, beef up competitiveness, and create each everlasting and brief employment alternatives.
The programme additionally goals current 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 compensation sessions of between 12 and 36 months.
Talking on the signing rite, Abdel Wahab stated 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 position in supporting micro endeavor homeowners, enabling them to make bigger their companies, create extra employment alternatives, and beef up the residing requirements of Egyptian households.
Abdel Wahab added that the financial institution puts vital significance at the MSME sector as some of the 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 reinforce sustainable building, make bigger financing for micro enterprises, inspire self-employment, and lend a hand scale back unemployment.
He stated the Tamkeen Microfinance 3 settlement paperwork a part of MSMEDA’s motion plan beneath 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 beneath Regulation No. 6 of 2025, and the incentives and facilitation measures supplied through the MSME Building Regulation No. 152 of 2020.
Rahmy described Regulation No. 152 of 2020 as some of the essential legislative frameworks supporting Egypt’s MSME sector. He added that MSMEDA is recently coordinating with the Space of Representatives on proposed amendments, together with updating endeavor classifications and lengthening turnover thresholds to higher replicate 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 position as the primary monetary establishment to take part within the executive’s initiative to lend a hand 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.
