Egypt – The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has launched Khatwa Company, a financing institution aimed at supporting small and micro enterprises across Egypt, as per a statement.
The company’s creation is aligned with President Abdel Fattah El-Sisi’s directives to enhance funding mechanisms for industrial and productive projects.
Khatwa Company was established in collaboration with several major financial entities, including e-finance for Digital and Financial Investments (EFIH) and Misr Insurance Company.
It aims to streamline financing for entrepreneurs through simplified procedures and digital technologies.
Moreover, the new company can grant loans to clients within no more than five days, backed by financial and market studies to assess each project’s potential.
MSMEDA holds a 40% stake in the company, emphasizing its commitment to promoting industrial projects and providing youth and entrepreneurs with tailored financial services.
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