Egypt gives primacy to boosting cooperation with Africa

Gamea gave her statement during the visit of an African delegation comprising representatives of four development institutions from Cameroon, Senegal, the Ivory Coast, and Comoros to the MSMEDA to learn about its experience in MSME development through Islamic finance.

Egypt’s cooperation with African countries is based on transferring its experience in developing MSME, creating the appropriate legislative and organisational environment, introducing easy-term finance, providing technical and marketing services, enhancing entrepreneurs' manufacturing and operational skills, and studying African markets' needs for Egyptian products, she said.

During the visit, MSMEDA showcased the successful enterprises the authority has supported in collaboration with the Islamic Bank for Development through the Youth Employment Support (YES) Project.

Under YES, 2,555 enterprises were funded with a total of EGP 906 million, generating over 20,000 jobs.