The Micro, Small and Medium Enterprise Development Agency (MSMEDA) has channeled EGP 939.4 million into North and South Sinai from 2014 to 2025, financing nearly 10,000 projects and creating around 25,000 jobs. It allocated EGP 23 million in grants for infrastructure, community development, and training, generating about 300,000 workdays. The agency issued a statement highlighting efforts to boost self-employment among youth, graduates, and women.
MSMEDA announced in a statement on Saturday that the funding supports self-employment and entrepreneurship, targeting young people, recent graduates, and women in Sinai, border governorates, and Upper Egypt. It seeks to raise awareness of state incentives under Enterprise Development Law No. 152 of 2020.
Agency CEO Bassel Rahmy urged branches in North and South Sinai to intensify outreach through seminars and training programs, introducing youth to financial, technical, and non-financial support. He emphasized expanding capacity-building and financing access for startups and existing enterprises, including one-stop shops, tailored financing, technical aid, and feasibility studies.
Programs include “Know Your Capabilities and Define Your Project” and ILO-accredited entrepreneurship courses for sectors like industry, production, handicrafts, and heritage. MSMEDA plans targeted training in air-conditioning and electrical maintenance, plus e-marketing, while prioritizing handicrafts to preserve cultural identity. It supports Sinai artisans at the “Turathna” exhibition and empowers women through heritage-based creative industries in partnership with civil society organizations.