CAIRO, July 9 – Banque Misr and Egypt’s Micro, Small and Medium Enterprise Development Agency (MSMEDA) have signed a EGP 500 million (about $10 million) financing agreement under the Tamkeen Microfinance 3 Programme, expanding access to finance for micro enterprises as part of the country’s broader strategy to promote entrepreneurship, employment and private sector growth.
The programme will provide financing to existing micro enterprises seeking to expand their operations, with funding aimed at increasing production capacity, creating jobs and strengthening the contribution of the micro enterprise sector to Egypt’s economic development.
Under the agreement, MSMEDA will provide EGP 500 million to Banque Misr, which will on-lend the funds to eligible businesses. The financing will support working capital requirements as well as the purchase of machinery and equipment needed for business expansion and improved competitiveness.
Eligible enterprises that obtain a tax card after the agreement’s signing will be able to access financing ranging from more than EGP 80,000 to EGP 400,000, with repayment periods of 12 to 36 months.
The agreement was signed by Hossam El Din Abdel Wahab, Deputy Chief Executive Officer of Banque Misr, and Bassel Rahmy, Chief Executive Officer of MSMEDA, in the presence of senior officials from both institutions.
Speaking at the signing ceremony, Abdel Wahab said the latest agreement builds on the success of the previous Tamkeen programmes, following the launch of Tamkeen 1 in 2021 with EGP 500 million in financing and Tamkeen 2 in 2024 with EGP 300 million.
According to Abdel Wahab, “The Tamkeen 3 agreement reinforces Banque Misr’s developmental role in supporting micro enterprise owners, helping them expand their businesses, create more employment opportunities and improve the living standards of Egyptian families.”
He added that the bank remains committed to supporting the MSME sector through tailored financing solutions that promote financial inclusion and facilitate the integration of informal businesses into the formal economy, in line with the priorities of the Central Bank of Egypt and the government’s economic strategy.
Rahmy said the new programme reflects MSMEDA’s continued efforts to strengthen partnerships with financial institutions to expand financing opportunities for micro enterprises and encourage entrepreneurship across the country.
According to Rahmy, “The Tamkeen Microfinance 3 agreement forms part of MSMEDA’s action plan to integrate more businesses into the formal economy, enabling them to benefit from the simplified tax regime under Law No. 6 of 2025 and the incentives provided by the MSME Development Law No. 152 of 2020.”
He described Law No. 152 of 2020 as one of Egypt’s most important legislative frameworks supporting small businesses and disclosed that MSMEDA is working with the House of Representatives on amendments aimed at updating enterprise classifications and increasing turnover thresholds to better reflect the evolving needs of the sector.
Rahmy also highlighted Banque Misr’s role in advancing the government’s business formalisation agenda, noting that the bank was the first financial institution to participate in the national initiative designed to help enterprises transition into the formal economy.
The Tamkeen 3 programme is expected to benefit approximately 2,500 micro enterprises, supporting business expansion, employment creation and broader financial inclusion while reinforcing Egypt’s efforts to strengthen its MSME sector as a key driver of long-term economic growth.