Egyptian Micro, Small and Medium Enterprises Development Agency (MSMEDA)
About
The MSMEDA is the authority concerned with the development of medium, small and micro enterprises and entrepreneurship, either directly or through coordinating the efforts of all agencies, NGOs and initiatives working in the field of those projects, or through what it establishes or contributes to it.
The Agency was established by decree of the Prime Minister, to be followed by the Prime Minister directly. It replaced the Social Fund for Development established since 1991, thus becoming the product of the accumulated experience of more than 25 years in providing employment opportunities, poverty alleviation, creating a supportive environment for small and micro enterprises, spreading the culture of entrepreneurship, as well as implementing community and human development programs and labor-intensive public projects that have effectively contributed to improving the living standards of citizens.
The Agency has wider functions and roles and has more comprehensive competencies and competencies in terms of coordination for the development of the SME sector and the achievement of social and economic development. It is therefore seeking to develop a national SME development program and to create a favorable climate and encourage citizens to enter the labor market through these projects, as well as spreading the culture of entrepreneurship and research, creativity and innovation and coordinate the efforts of all stakeholders in this area.
Through its success stories, MSMEDA has gained a positive reputation and the confidence of international donors, in a context where the Government of Egypt emphasizes the state’s commitment to supporting small enterprises.
The MSMEDA has notably drafted with the AFDB Egypt’s National Strategy for the Development of Organic Clusters: 2019-30 (see Knowledge Management section). In the last 7 years, MSMEDA has pumped 36 billion EGP into MSMEs which financed over 1.4 million MSMEs, in addition to labor-intensive infrastructure projects.
