Egypt’s Micro, Small and Medium Enterprise Development Agency (MSMEDA) CEO, Bassil Rahmy, announced that the agency has invested more than EGP 18 billion over the past 11 years to support women-led micro and small businesses across the country—a push he said has generated at least 1.2 million job opportunities nationwide.
Speaking at the Carerha Summit for Egyptian Women 2024, a flagship regional platform for professional development and women’s economic empowerment, Rahmy underscored the government’s expanding commitment to fostering female entrepreneurship and strengthening women’s roles across Egypt’s economic sectors.
Expanding Opportunities for Women
Rahmy said MSMEDA is working to widen its services for women at every stage of the business cycle—from initial project launch to scaling up operations. “Our focus is to increase women’s participation in productive, commercial, and service sectors, enhance their presence in the labor market, and reinforce their leadership roles,” he said.
He noted that women now represent a core priority in the agency’s programming, which includes financial support, training, and advisory services designed to equip them with the tools needed to establish sustainable, competitive enterprises.
A Strategy Aligned With National Priorities
The agency’s efforts, Rahmy emphasized, operate under a comprehensive strategy aligned with the directives of Prime Minister Mostafa Madbouly, who chairs MSMEDA’s Board of Directors. The approach aims to ensure full, equitable access for women to both financial and non-financial services.
Rahmy highlighted MSMEDA’s coordination with national initiatives dedicated to women’s empowerment. These joint efforts seek to help women enter diverse fields of private enterprise and encourage a stronger culture of entrepreneurship and self-employment across all governorates.
Harnessing Technology and Green Innovation
Rahmy also pointed to MSMEDA’s “ambitious vision” for empowering women through advanced technologies, including artificial intelligence and digital transformation tools. The agency is simultaneously pushing to expand women’s engagement in green entrepreneurship—an increasingly important priority under Egypt’s Vision 2030 and the global Sustainable Development Agenda.
In addition to core financing programs, MSMEDA is expanding its support for heritage and handicraft industries, as well as innovative and tech-driven ventures. The agency is also investing in financial inclusion measures and digital solutions that help women business owners streamline operations and access new markets.
Catalyzing Women’s Role in Business Building
Rahmy described the Carerha Summit as a key platform for exchanging knowledge with regional partners and refining development strategies that place women at the center. He said such collaborations are vital to creating an enabling environment for women to start new ventures or expand existing ones.
He urged women and girls—particularly aspiring entrepreneurs—to visit MSMEDA’s branches nationwide and take advantage of the support available under Egypt’s Micro, Small, and Medium Enterprise Development Law No. 152/2020. The law offers a wide range of financing mechanisms and specialized entrepreneurship training tailored to new and growing businesses.
Collective Efforts For Women Empowerment
Rahmy concluded with a renewed commitment to expanding MSMEDA’s reach to “every Egyptian woman seeking to enter the labor market and establish a project that delivers economic, social, and environmental value.” He affirmed that the agency stands ready to partner with organizations across sectors and adopt initiatives that strengthen women’s economic and social empowerment.
“With continued coordination and collective national effort,” he said, “we can ensure that women’s participation in development is not only supported but accelerated in the years to come.”
