MSMEDA Introduces ‘Aziza’ Initiative to Empower Women Entrepreneurs Across Egyptian Regions
Basil Rahmi, CEO of the Micro, Small, and Medium Enterprise Development Agency (MSMEDA) in Egypt, has unveiled the “Aziza” initiative, designed to empower women-owned MSMEs. This initiative offers soft loans to women aiming to grow existing businesses or launch new ventures. It also includes comprehensive technical, training, and marketing support to ensure the long-term success of these enterprises, particularly in industrial, productive, and agricultural sectors with potential for local and global competitiveness.
The launch coincided with International Women’s Day celebrations in March, with funding accessible through any MSMEDA branch nationwide or by calling the unified number 16733 for program details. Rahmi emphasized that the initiative aligns with the government’s strategy to strengthen MSMEs, aiding their transition into the formal economy and leveraging the benefits of the Enterprise Development Law 152/2020.
The inauguration of the Aziza initiative saw the presence of representatives from international partner organizations and officials, underscoring MSMEDA’s collaborative efforts to promote economic and social empowerment for women. Notable attendees included Sylvain Merlin, UNDP Deputy Resident Representative, and Djibrilla Issa, World Bank’s MENA Practice Manager for Finance, Competitiveness, and Innovation.
The event also featured successful female entrepreneurs from various manufacturing sectors, such as furniture, apparel, and traditional attire, who shared how MSMEDA’s non-financial services had been pivotal in sustaining and expanding their businesses. They highlighted participation in exhibitions like the “Turathna Exhibition” as .instrumental in enhancing their product marketing efforts