Funding for Egyptian Microenterprises Has Surged 1,123% in 6.5 years

Financing for Egyptian microenterprises has experienced a surge, increasing by more than 1,123% to reach EGP 78.3 billion in June 2023, up from EGP 6.4 billion in December 2016, according to the Central Bank of Egypt (CBE).

In a bid to further aid small and medium-sized enterprises (SMEs), the CBE extended credit regulatory facilities until the end of June 2024. Last year, the CBE instructed the banking sector to increase their credit allocations for micro, small, and medium enterprises (MSMEs) from 20% to 25%. This directive aimed to inject approximately EGP 117 billion into the MSME sector by the close of 2022, as stated by the CBE.