MSMEDA Strategy Aligns with Egypt 2030: Empowering Women through AI and Digital Transformation.

Bassil Rahmi, CEO of the Micro, Small and Medium Enterprises Development Agency (MSMEDA), affirmed the agency's interest in expanding the provision of its services to women and supporting them in establishing medium and small projects, raising their economic contribution in various productive, commercial, and service fields, increasing their participation rate in the labor market, and enhancing their leadership and professional role.

The CEO of MSMEDA stated that, in its efforts to support and empower women, the Agency succeeded over 11 years in injecting 18 billion Egyptian Pounds to finance micro and small projects led by women in all governorates. These financings contributed to providing at least 1.2 million job opportunities. He pointed out that the Agency operates according to an effective strategy, in implementation of the directives of Dr. Mostafa Madbouly, Prime Minister and Chairman of MSMEDA's Board of Directors, with the aim of enabling women to benefit from all the financial and non-financial services and products offered by the Agency, stressing the Agency's keenness also to coordinate with all active initiatives in Egypt that support women and help them establish their own businesses in various fields and encourage them in the fields of self-employment and entrepreneurship.

Rahmi's statements came during a speech he delivered at the Career Summit for Egyptian Women 2024 (Carerha Summit for Egyptian Women 2024), pointing out that MSMEDA aims to exchange views and experiences with partners on the best development programs and initiatives that prioritize women and seek to provide a suitable and encouraging work environment that helps them start their new projects or develop their existing ones smoothly.

Rahmi explained that the Agency is also working on implementing an ambitious vision to empower women and help them utilize Artificial Intelligence and digital transformation, and encourage them to venture into green entrepreneurship through its cooperation with concerned state ministries and major private sector institutions.

He clarified that this vision aligns with the Sustainable Development Agenda and Egypt Vision 2030, in addition to its interest in financing heritage, handicraft, and innovative projects, and its pursuit of applying financial inclusion, digital, and technological transformation policies, and its keenness to help female entrepreneurs develop their projects and transform them from micro-enterprises to small and medium enterprises.

Rahmi emphasized during his speech that the Agency aims to reach every Egyptian woman who wishes to enter the labor market and establish a medium, small, or micro project that achieves an appropriate economic, social, and environmental return.

Rahmi called upon women and girls in all governorates of the Republic, especially female entrepreneurs, to approach MSMEDA and its branches spread across all governorates to benefit from the facilities it grants, especially under the MSMEs Development Law 152/2020, and obtain the various financial products it provides, and benefit from the specialized entrepreneurship training programs it organizes, affirming the Agency's readiness to continue coordinating with partner entities and adopt any initiatives or projects that would maximize efforts for the economic and social empowerment of women and encourage their participation in development.

Source: Press Release