Egypt has approved EGP 300 million in new financing to expand funding for microenterprises, reinforcing the government’s strategy to boost employment and strengthen financial inclusion across the country.
The funding comes from the Micro, Small and Medium Enterprise Development Agency (MSMEDA) and will be channeled through Reefy Microfinance Enterprise Services, a specialized company with a nationwide footprint. The agreement was signed in the presence of Basil Rahmy, CEO of MSMEDA, and senior executives from both institutions.
The initiative targets microenterprises operating across productive, agricultural, and service sectors, reflecting the state’s focus on small-scale businesses as a key engine for job creation, particularly for youth and low-income citizens. MSMEDA officials said the program aligns with government directives to expand access to microfinance as a practical tool for improving living standards and stimulating local economies.
Under the agreement, Reefy will deploy the funding through its network of 220 branches across all Egyptian governorates, enabling broader outreach to villages, rural areas, and underserved communities. Financing will support the establishment of new microprojects, as well as the expansion, upgrading, and renewal of existing ones. Individual loans may reach up to EGP 266,000, depending on project needs, with around 3,000 microenterprises expected to benefit nationwide.
MSMEDA emphasized that partnering with experienced microfinance providers is essential to reaching target groups efficiently and meeting their financing needs, which in turn helps increase the number of viable, income-generating projects across the country.
For its part, Reefy said the project supports national efforts to enhance financial inclusion by integrating unbanked and underbanked groups into the formal financial system. The company plans to prioritize outreach in rural areas and Upper Egypt, with a particular focus on women and young entrepreneurs, in line with Egypt’s broader development and inclusion goals.
The agreement underscores the growing role of microfinance in Egypt’s economic strategy, as policymakers increasingly view microenterprises as a cornerstone of inclusive growth, job creation, and sustainable development.
