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Emirates NBD launches specialised unit for financing SMEs in Egypt

Emirates NBD announced the establishment of a specialised unit for financing small- and medium-sized enterprises (SMEs) in the framework of its commitment to implement the instructions of the Central Bank of Egypt (CBE), besides the bank’s quest to expand in financing these projects. SMEs are one of the most important sectors that contribute to advancing …

Hossam Mounir

SMEs need more than bank loans with low interest rates to succeed: experts

During his meeting with Minister of Industry and Trade Tarek Kabil, President Abdel Fattah Al-Sisi emphasised the importance of small- and medium-sized enterprises (SMEs) and how these could improve Egypt’s economy. The president noted that banks should provide loans with low interest rates not exceeding 5%, as the Central Bank of Egypt (CBE) initiative stipulated. …

Hisham Salah

SOUQ.com launches 2 programmes for SMEs to grow e-commerce in Egypt

SOUQ.com, the leading online shopping and e-commerce provider, launched two innovative selling programmes for small- and medium-sized enterprises (SMEs): “Fulfilled by SOUQ” and “SOUQ Selling Centre”. SOUQ.com considers the programmes to be advanced solutions in supply chain management and aims to build a fully integrated e-commerce ecosystem in Egypt. Through these programmes, SOUQ.com will be …

Daily News Egypt

NBE aims to increase SMEs loan portfolio to 70bn in 4 years

The National Bank of Egypt (NBE) aims to increase the size of loans granted to small- and medium–sized enterprises to EGP 70bn over four years, according to the bank’s CEO Hazem Hegazy. Hegazy said that NBE began funding SMEs in 2010, noting that the current size of loans granted to these projects amounts to EGP …

Hossam Mounir

Banque du Caire aims to become the strongest bank supporting SMEs: CEO

Banque du Caire seeks to become the strongest bank operating in the Egyptian market in the field of small- and medium-sized enterprises financing (SMEs), according to Mounir El-Zahid, CEO and chairperson of the bank. El-Zahid said that the bank has considerable experience in financing these projects. It has created a separate department for SMEs, trained …

Hossam Mounir