MSMEDA & UNDP Egypt: Boosting MSMEs Through Collaboration
- A recent meeting between MSMEDA and UNDP officials highlighted a long-standing partnership focused on fostering micro, small, and medium enterprises (MSMEs) in Egypt, with a renewed emphasis on...
- On November 8, 2023, officials from the Micro, Small and Medium Enterprise Development Agency (MSMEDA) and the United Nations Development Program (UNDP) Egypt convened to reaffirm their commitment...
- Nevine Gamea underscored the strategic importance of the MSMEDA-UNDP partnership, which began in 1991 when MSMEDA was known as the Social Fund for Development.
MSMEDA and UNDP Reaffirm Commitment to Supporting Egyptian MSMEs
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A recent meeting between MSMEDA and UNDP officials highlighted a long-standing partnership focused on fostering micro, small, and medium enterprises (MSMEs) in Egypt, with a renewed emphasis on digital transformation and inclusive growth.
Strengthening a Decades-Long Partnership
On November 8, 2023, officials from the Micro, Small and Medium Enterprise Development Agency (MSMEDA) and the United Nations Development Program (UNDP) Egypt convened to reaffirm their commitment to supporting Egypt’s MSME sector.Attendees included MSMEDA executive Director, nevine Gamea, UNDP Egypt Resident Representative, Chitose Noguchi, Raafat Abbas, Head of Development Sectors at MSMEDA, and Abeer Shakweer, Assistant Resident Representative at UNDP Egypt.
Nevine Gamea underscored the strategic importance of the MSMEDA-UNDP partnership, which began in 1991 when MSMEDA was known as the Social Fund for Development. she emphasized the collaboration’s crucial role in helping MSMEDA navigate economic transitions and broaden its support for MSMEs throughout egypt. This partnership has been instrumental in driving job creation, especially for youth, recent graduates, and women, while together promoting entrepreneurship and innovation.
Key Areas of Cooperation
Gamea outlined key pillars of ongoing cooperation,including:
- Digital Transformation: Leveraging technology to enhance MSME efficiency and reach.
- Financial and Non-Financial Services: Expanding access to funding and business support resources.
- Innovation Promotion: Fostering a culture of innovation within the MSME sector.
- Human capital Development: Equipping entrepreneurs and workers with the skills needed for success.
Gamea affirmed MSMEDA’s dedication to deepening cooperation with both local and international partners to cultivate a thriving and inclusive MSME ecosystem that supports sustainable and resilient economic growth.
UNDP’s Continued Support for Egypt’s Development Goals
Chitose Noguchi expressed gratitude for the strong relationship between UNDP and MSMEDA, pledging to build upon this foundation to empower MSMEs and enhance their resilience, competitiveness, and contribution to inclusive development. Noguchi reiterated the UNDP’s support for Egypt’s key development priorities, including job creation, digital transformation, and improving investment readiness, all while working to create an enabling surroundings for small businesses.
Abeer Shakweer added that the UNDP collaborates closely with MSMEDA to improve performance, modernize services, and adapt to rapid global and technological changes.She explained that their joint action plans focus on expanding digital and financial inclusion, improving access to non-financial services, and strengthening Egypt’s innovation ecosystem. this technical cooperation, Shakweer stated, reflects the UNDP’s broader commitment to scaling successful models into practical policies and programs that deliver tangible benefits for entrepreneurs and local communities.
The Importance of MSMEs to the egyptian Economy
Micro, Small, and Medium Enterprises (MSMEs) are vital to the Egyptian economy, representing a important portion of employment and contributing substantially to GDP. According to the World Bank, MSMEs account for over 80% of all businesses in Egypt and employ a significant percentage of the workforce. supporting their growth is crucial for achieving inclusive and sustainable economic development.
The MSMEDA-UNDP partnership plays a critical role in addressing the challenges faced by Egyptian MSMEs, such as limited access to finance, technology, and markets. By working together, the two organizations aim to create a more favorable environment for MSMEs to thrive and contribute to Egypt’s economic prosperity.