MSMEDA channels EGP 939m into Sinai to fund SMEs, create 25,000 jobs

The Micro, Small and Medium Enterprise Development Agency (MSMEDA) has injected EGP 939.4m into North and South Sinai between 2014 and 2025, financing nearly 10,000 projects and generating around 25,000 job opportunities. Of the total funding, EGP 23m was allocated as grants to support infrastructure, community development, and training programmes, contributing to the creation of approximately 300,000 workdays. In a statement issued on Saturday, the Agency said the financing forms part of its broader efforts to promote self-employment and entrepreneurship among young people, recent graduates, and women—particularly in Upper Egypt, border governorates, and Sinai. The initiative also aims to raise awareness of state-backed incentives and services available to the small enterprise sector, enabling citizens to launch diverse projects and tap into emerging investment opportunities in Sinai. MSMEDA Chief Executive Officer Bassel Rahmy called on the Agency’s branches in North and South Sinai to scale up outreach efforts, including awareness seminars and training programmes, to familiarise young people with the financial, technical, and non-financial support on offer. He also stressed the need to expand capacity-building initiatives to help aspiring entrepreneurs establish viable businesses, alongside increasing access to financing for both start-ups and existing enterprises. Rahmy noted that these outreach activities introduce beneficiaries to MSMEDA’s integrated service offering, including one-stop-shop facilities, financing packages, technical support, and feasibility study assistance. They also highlight incentives provided under the Enterprise Development Law No. 152 of 2020. The Agency continues to roll out specialised training programmes such as “Know Your Capabilities and Define Your Project” and entrepreneurship courses accredited by the International Labour Organization (ILO), aimed at equipping participants with the skills needed to launch and scale micro and small enterprises across sectors including industry, production, handicrafts, and heritage. Looking ahead, MSMEDA plans to introduce targeted technical training in air-conditioning and electrical appliance maintenance to meet rising labour market demand in Sinai. Additional programmes in e-marketing are also set to support business expansion, improve market access, and foster sustainable job creation. Rahmy underscored the Agency’s focus on the handicrafts and heritage sector, citing its potential to generate labour-intensive employment while preserving Egypt’s cultural identity. This focus is reflected in MSMEDA’s ongoing support for artisans from Sinai to participate in successive editions of the “Turathna” exhibition for handicrafts and heritage. He added that particular emphasis will be placed on empowering women and girls through training in creative industries rooted in Sinai’s heritage, in collaboration with civil society organisations. These efforts aim to integrate traditional craftsmanship with modern marketing tools, helping to create sustainable income opportunities and support inclusive economic development in the region.The post MSMEDA channels EGP 939m into Sinai to fund SMEs, create 25,000 jobs first appeared on Dailynewsegypt.