Aman Holding and MSMEDA Has Partnered to offer EGP 100 million in funding to assist those looking to launch or grow small and medium-sized businesses (SMEs) in Egypt.
The funds are split between two contracts EGP 30 million from the Arab Fund for Economic and Social Development and EGP 70 million from the World Bank’s “Entrepreneurship Stimulation Project for Job Creation.”
Through this partnership, young entrepreneurs and women in different locations will be empowered not just with cash help but also with other services including business setup aid, licensing support, and marketing services.
Through a new collaboration with Aman Holding, the Micro, Small, and Medium Enterprise Development Agency (MSMEDA) in Egypt has secured EGP 100 million in funds to be given to people wishing to start or grow small and medium-sized businesses (SMEs).
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This collaboration, which was formalized by an agreement between CEOs of MSMEDA and Aman Holding’s Operations and Commercial Affairs, Hazem Maghazi, allows Aman to fund entrepreneurs through its nationwide network of branches, with a special emphasis on youth.
Rahmi elaborated, “The EGP 100 million financing agreement with Aman is divided into two contracts. The first, worth EGP 70 million, is linked to the World Bank’s ‘Entrepreneurship Stimulation Project for Job Creation’, aimed at encouraging entrepreneurship. The second contract, amounting to EGP 30 million, is under an agreement with the Arab Fund for Economic and Social Development to aid SMEs and private sector facilities.”
Maghazi expressed excitement for the partnership’s role in accomplishing shared goals of empowering businesses, creating jobs, and fostering sustainable economic growth throughout Egypt. She also reaffirmed Aman’s commitment to assisting SMEs in Egypt.
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Hazem Maghazi, CEO of Business and Commercial Affairs at Aman Holding, expressed pride in renewing the partnership with MSMEDA. This agreement demonstrates our commitment to expanding our financial services and supporting projects of all sizes, particularly SMEs, through our extensive branch network,” Maghazi remarked. “It aligns with our vision to build a more inclusive and sustainable financial ecosystem across the country.”
About Aman Holding
AMAN Holding, a Raya Holding subsidiary, is a leading Egyptian fintech company that uses smart technology to simplify financial solutions. After launching AMAN E-Payments in 2016, AMAN for Consumer Finance, and AMAN for Micro Finance in 2018, AMAN Holding has grown significantly.
