SMEs acquire lion share of private sector in Egypt at 98%

These figures were released during a roundtable organized by Visa on Tuesday to launch the "SME Megatrends" report and showcase its key results.

The SME Megatrends report said SMEs share in Egypt’s GDP  has reached 43 percent in FY2023-2024.

However, the report also found that the financing gap faced by SMEs has reached $46 billion.

It said 33 percent of SMEs in Egypt struggle with lack of access to finances and only 15 percent of these enterprises have adequate access to finances.

The report found that SME’s outstanding loan portfolio stands at $11 billion.

The SME Megatrends report identified significant opportunities for growth and innovation for the SMEs in Egypt, particularly in the digital and financial domains, with clear insights that can be leveraged by issuing banks to unlock new revenue opportunities and gain a competitive edge.

The report noted that digital transformation is paving new avenues of growth and sales for SMEs in the Egyptian market, with an uptick in social media and e-commerce, buy now, pay later (BNPL) and point of sale (POS) financial and e-wallet penetration.