Egypt’s Prime Minister, Dr. Mostafa Madbouly, chaired a crucial meeting today to discuss the financial sustainability of the Micro, Small, and Medium Enterprises Development Agency (MSMEDA). The meeting emphasized strategies to ensure the agency’s long-term financial independence, enabling it to continue supporting entrepreneurs and fostering economic growth.
Key officials, including Dr. Rania El-Mashat, Minister of Planning, Ahmed Kouchok, Minister of Finance, and Basel Rahmy, CEO of MSMEDA, participated in the session. Rahmy presented a detailed roadmap for the authority’s financial future, focusing on increasing its capital base, diversifying funding sources, and improving financial management.
The meeting highlighted ongoing initiatives and partnerships with international development partners, aimed at job creation and supporting key sectors like exports and food security. MSMEDA’s future strategy includes reducing reliance on government funding and enhancing resilience to economic challenges.
With a focus on expanding support for startups and creating 140,000 new jobs over the next five years, MSMEDA is set to play a pivotal role in addressing Egypt’s regional economic disparities and driving sustainable development.
