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2.4m small, microenterprises operating in Egypt as of end of 2015: CAPMAS Agency recommends integrated national system for information about SMEs be formed; procedures to obtain financing at low interest rates be facilitated
As of the end of 2015, there are 2.4m small and microenterprises operating in Egypt with 6.3m workers, according to the Central Agency for Public Mobilization and Statistics (CAPMAS). The agency's study examines the status of small and medium-sized enterprises (SMEs) in Egypt from 2009 to 2015. The study concluded that retail and wholesale trade represent 57.1% of the total activities of these companies, 15.9% represent transformational industries, while other activities represent 27% of the total, according to the 2012-2013 economic census data. According to the study, there are 4,700 medium-sized enterprises with 323,000 workers. Transformational industries represent 26.9% of the activities of these companies, whereas wholesale and retail trade represents 22.1%, and other activities represent 51%, according to CAPMAS. The Social Fund for Development funded 1.2m microenterprises from 2009 to 2015, with total loans of EGP 5.3bn. According to the agency, these projects have provided 1.3m jobs, with 50.3% contributions by women. "The Social Fund for Development financed 103,200 small projects from 2009-2015, with loans worth EGP 10.6bn, and 24.8% contributions by women. These projects have provided 430,400 jobs," the CAPMAS study read. The agency said that the Ministry of Social Solidarity financed 82,000 microenterprises from 2009 to 2014 with loans worth EGP 258,700. These projects provided 82,000 jobs. Agricultural production is one of the main activities financed by the Ministry of Social Solidarity with 51,200 jobs, representing 62.5% of the total projects. Lower Egypt has benefited the most from these loans, acquiring EGP 100.4m, representing 38.8% of total loans granted. "From 2009 to 2010 and from 2014 to 2015, the Local Development Fund financed 41,100 microenterprises with loans valued at EGP 150.5m. Women contributed to these projects with 58.3% in total," CAPMAS said. Animal production came at the forefront of the activities financed by the Local Development Fund with 31,900 projects, representing 77.7% of the total number of projects. Women have contributed to 18,400 projects, or 57.8% of the total number of projects financed by the Local Development Fund. The agency has recommended the provision of an integrated national system for information about SMEs. It also suggested facilitation of the procedures to obtain loans with low interest rates in order to encourage the establishment of such projects and providing marketing channels for all products of these projects.
