MSMEDA expands SME export opportunities to African markets
Updated 9/19/2024 12:57:00 PM
Arab Finance: The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) is working to open new markets for micro, small, and medium-sized enterprises (MSMEs) in Africa as part of the presidential initiative, “A New Beginning for Human Building,” as per a statement.
This initiative, in collaboration with the Egyptian African Businessmen's Association (EABA), aims to support the export of products from these enterprises to African countries.
MSMEDA’s CEO Basil Rahmy emphasized the agency's commitment to supporting the growth of SMEs due to their significant role in creating job opportunities, fulfilling local market needs, and entering foreign markets.
In a meeting between the Deputy CEO of the agency Raafat Abbas, the chairman of EABA Yousry El-Sharkawy, and representatives from Congo, cooperation efforts were discussed to bolster small business exports to Congo.
Rahmy noted that the agency has established a new unit focused on developing support mechanisms for small exporters.
These include clarifying export procedures, identifying foreign market needs, and targeting the promising African market.
El-Sharkawy added that the association is set to organize promotional missions for Egyptian products meeting quality standards across African countries.
He also mentioned ongoing efforts to identify challenges facing small business owners and explore solutions in coordination with state agencies.
The association also considers sourcing raw materials from African countries at competitive prices to help Egyptian SMEs expand their market reach.
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