NilePreneurs, one of the initiatives of the Central Bank of Egypt (CBE), has offered nearly EGP 4.4bn worth of financing to about 6,000 small and medium enterprises and entrepreneurs since its launch in July 2019 until June 2023.
Ahmed Hosny, Director of the Business Development Service Centres at NilePreneurs, said that the program is currently considering other applications submitted by more than 3,000 projects and entrepreneurs to obtain financing worth EGP 3.7bn in preparation for applying for the necessary funding. Within the framework of the continuous support of CBE, the initiative aims to encourage the youth and provide them with opportunities to start new projects and further develop their current projects, according to the “Daily News Egypt” website.
The Business Development Service Centers provided about 350,000 various services to over 145,000 clients, including 30% women. It also helped about 8,600 beneficiaries establish a new project and provided nearly 18,100 financial analysis services for owners of ideas, projects, and entrepreneurs, in addition to 49,000 projects that received elaboration services of the projects’ concept.
