Every StartupHub.today article filed under Small businesses.
The Micro, Small and Medium Enterprises Development Agency (MSMEDA) is actively supporting the 'Rekaz' initiative. This program aims to empower university students in Egypt by fostering entrepreneurship through practical training, essential funding, and by connecting their education directly to the job market and real-world productive projects.
Nader Saad confirmed that the National Bank of Egypt (NBE) now holds a significant 30% share of the market for small and medium-sized enterprise (SME) financing. This success is largely due to their growing reliance on alternative data, which helps them assess creditworthiness in new and innovative ways.
The Central Bank of Egypt's 'Nile Pioneers' initiative is making huge strides in supporting entrepreneurship! It has delivered over 1.16 million services and helped incubate 500 startups, showing a strong commitment to growing the business ecosystem.
Fawry, a leading Egyptian fintech company, has just received its microinsurance license! This exciting move means they'll be offering affordable digital insurance solutions, helping more people access financial protection and expanding their services across Egypt. It's a big step towards greater financial inclusion for everyone.
The National Bank of Egypt and the Ministry of Youth and Sports have teamed up to launch a fantastic new initiative called 'Shabab Shamel.' It's all about boosting financial inclusion and empowering young people across Egypt through practical training and support for entrepreneurs.
A new report from McKinsey & Company suggests that teaming up with fintech companies is a smart way to help small businesses in Egypt get the funding they need. This collaboration can close the current funding gap by making data better and bringing more businesses into the financial system.
