Egypt is accelerating efforts to strengthen small businesses and entrepreneurship after the Micro, Small and Medium Enterprise Development Agency (MSMEDA) signed financing agreements worth EGP 350 million ($7 million) with Tamweely Financial Services to expand access to microfinance.

The funding package is expected to support thousands of micro-enterprises, improve financial inclusion and help entrepreneurs access working capital needed to grow their businesses.

MSMEDA and Tamweely expand small business financing

The agreements represent a wider government-backed strategy to integrate micro and small businesses into Egypt’s formal economy while creating new employment opportunities.

Implemented in partnership with the Ministry of Finance and the Egyptian Tax Authority, the programmes aim to increase access to financing for entrepreneurs across multiple sectors, including businesses seeking funds for expansion, equipment purchases and productivity improvements.

MSMEDA officials said the initiative will help business owners benefit from formal economic structures, investment incentives and financial services designed to improve long-term sustainability.

$7 Million facility targets entrepreneurs and job creation

Ahmed Khorshid, Chief Executive Officer and Managing Director of Tamweely Financial Services, said the agreement strengthens the company’s partnership with MSMEDA while expanding its role in Egypt’s non-bank financial services sector.

He said the EGP 350 million ($7 million) financing facilities would provide additional support for existing businesses with growth potential, helping improve productivity, create jobs and increase the contribution of micro-enterprises to the national economy.

The first agreement, valued at EGP 100 million ($2 million), was developed in cooperation with the Ministry of Finance and the Egyptian Tax Authority to support businesses moving into the formal economy.

Egypt pushes financial inclusion through MSME growth

Bassel Rahmy, CEO of MSMEDA, said the partnership with Tamweely aligns with efforts to expand Egypt’s microfinance portfolio and provide easier access to capital for young entrepreneurs and women-owned businesses.

The financing will support working capital needs, machinery purchases and business expansion plans, helping small enterprises become more competitive. Egypt has increasingly focused on MSME development as a key driver of economic growth, employment and private-sector expansion.

Tamweely’s role in Egypt’s non-bank finance sector

Founded in 2017 and headquartered in Cairo, Tamweely Financial Services is one of Egypt’s leading microfinance institutions, providing financial solutions to micro, small and medium enterprises.

The company focuses on supporting underserved entrepreneurs, including unbanked communities, women business owners and low-income individuals.

Following a 2024 acquisition, Tamweely is backed by investors including SPE Capital, the European Bank for Reconstruction and Development (EBRD), British International Investment (BII) and Tanmiya Capital Ventures.

The latest financing agreement highlights Egypt’s broader push to unlock small business growth, strengthen financial inclusion and expand private-sector participation in the economy.