June 2023 – The Micro, Small and Medium Enterprises Development Authority (MSMEDA) and eAswaaq Misr, have signed collaboration agreement to introduce the first integrated electronic platform tailored for small and medium enterprises (SMEs) in Egypt. This initiative, which aims to digitize and enhance the support services for aspiring entrepreneurs and existing business owners, is set to be officially launched within the next three months.
eAswaaq Misr, will oversee the management, operation, and marketing of the platform, which will encompass a wide range of entities involved in providing financial and technical assistance to SMEs. The comprehensive platform will offer a modern technological approach to deliver services, empowering project owners to tap into the resources provided by various authorities dedicated to SMEs. Additionally, it will serve as a catalyst for inspiring young individuals to explore self-employment opportunities and establish ventures in sectors that meet market demands.
Bassel Rahmi, CEO of MSMEDA, emphasized that the platform’s primary goal is to provide easy access to modernized services for projects, encouraging business owners to take advantage of the diverse offerings provided by relevant authorities supporting small businesses. It also aims to inspire young entrepreneurs to enter the market and establish enterprises in sectors with high demand. Rahmi highlighted the platform’s inclusion of various entities dedicated to supporting small projects, enabling project owners to stay updated on the latest financial and technical support developments. They can compare and evaluate services provided by these agencies and choose the most suitable options for their specific project needs.
In addition to these benefits, the platform will introduce specialized training providers in technical and entrepreneurial fields. It will also offer guidance on freelance opportunities, local exhibition marketing strategies, e-marketing mechanisms, networking opportunities between small and large-scale projects, as well as export opportunities to Arab and African markets.
Rahmi commended the collaboration with eAswaaq Misr for their expertise in operating and managing the platform. He emphasized the platform’s continuous development to meet the evolving needs of project owners.
Ibrahim Sarhan, Chairman and CEO of e-Finance Group for Financial and Digital Investments, emphasized the significance of this collaboration in propelling the success of the SME sector. He acknowledged that SMEs are essential pillars of comprehensive economic development, offering significant employment opportunities and acting as crucial links in the supply chains of various sectors and economic projects. Sarhan stressed the importance of providing technological support to enable SMEs to leverage the advantages of digital transformation.
Islam Mamoun, CEO and Managing Director of eAswaaq Misr, expressed his content with the partnership between eAswaaq Misr and the SME Development Authority in overseeing Egypt’s inaugural MSME platform, marking a promising beginning for their collaboration.
Mamoun conveyed, “We are delighted to join forces with the SME Development Authority in managing Egypt’s first platform for MSMEs, and this marks a significant milestone in our cooperation. We are enthusiastic about the possibilities this partnership holds. We are actively exploring multiple avenues of collaboration with the authority to accelerate the implementation of comprehensive development plans and drive digital transformation across various economic sectors within our new republic.”