Egypt hires private company to develop digital services platform for Egypt's SMEs

The new platform, which will incorporate all authorities offering financial and technical assistance to SMEs, is scheduled to launch in three months, according to a cabinet statement on Sunday.

E-Finance For Digital and Financial Investments, listed on the Cairo stock exchange, owns eAswaaq Misr.

According to MSMEDA CEO Bassel Rahmy, the online SME digital services platform will involve a broad range of competent authorities, such as banks, non-profit organizations, and government bodies.

MSMEDA spearheads initiatives to assist Egyptian SMEs, including a recent EGP 150 million financing agreement signed with the Saudi Arabia Grant Management Committee (SAGMC) on 13 June to support small industrial projects in Egypt.

Egypt's Prime Minister Moustafa Madbouly directed creating of a permanent cabinet unit responsible for proposing policies, laws, and regulations to promote the growth and success of startups in the country.