MSMEDA Boosts MSME Growth in Alexandria with EGP 2.2 Billion in Financing

Since July 2014, the Micro, Small and Medium Enterprises Development Agency (MSMEDA) has provided EGP 2.2 billion (approximately USD 45 million) in financing to support small-scale enterprises in Alexandria. These funds have facilitated the launch and development of around 51,000 micro and small businesses, generating over 110,000 job opportunities. Of the total investment, EGP 102 million was allocated to infrastructure upgrades, community development, and vocational training initiatives.

This announcement came during a meeting between Alexandria Governor Lieutenant General Ahmed Khaled and MSMEDA CEO Bassel Rahmy, where they explored ways to deepen cooperation in promoting entrepreneurship, particularly in industrial hubs such as Borg El Arab and El-Merghem.

Also present were MSMEDA Deputy CEOs Dr. Raafat Abbas and Mr. Mohamed Medhat, along with high-level officials from the Alexandria Governorate. The discussion centered on expanding MSME integration into the formal economy, enhancing access to finance, and supporting youth-led startups.

The initiative aligns with the broader directives of Prime Minister Mostafa Madbouly, who chairs MSMEDA’s board. These directives call for increased inter-agency coordination and broader access to financial, advisory, and technical services, especially targeting women, youth, and recent graduates. Additional emphasis is placed on leveraging investment zones and strengthening local value chains across governorates.

Tax Reforms and Incentives

MSMEDA is also collaborating with the Ministry of Finance and the Tax Authority to implement tax reforms under the new Law No. 6 of 2025. This legislation introduces a progressive tax structure for small businesses, starting at 0.4% of annual revenues for firms earning EGP 500,000 and rising to 1.5% for those with EGP 10–20 million in annual income. The law also includes exemptions from select taxes and stamp duties that previously applied to small enterprises.

During the meeting, MSMEDA and Alexandria officials awarded direct loan checks to five entrepreneurs. Additionally, five other business owners received formal licenses and classification certificates as part of ongoing efforts to regularize informal enterprises.