Kredit Secures $17.8 Million to Transform Egypt's SME Sector

Ahmed Emam, Kredit Managing Director

Kredit for Project Financing, a subsidiary of GB Capital, has secured EGP 875 million (around $17.8 million) in banking facilities from nine local and international banks to advance financial inclusion for SMEs in Egypt. Among the participating institutions are the National Bank of Egypt, Banque du Caire, and the Micro, Small, and Medium Enterprise Development Agency (MSMEDA).

With this financing, Kredit is set to bolster financial solutions across sectors such as food production and renewable energy. The company aims to support export-oriented businesses that rely on local resources, contributing to sustainable growth.

CEO Ahmed Emam highlighted that the funds would be allocated towards capital expansions, equipment procurement, and transport facilities, emphasizing Kredit’s focus on SMEs as key contributors to Egypt’s economic development.

This move aligns with other recent funding efforts in Egypt to empower small enterprises. In August, MSMEDA partnered with Aman Holding to provide EGP 100 million to young entrepreneurs. In July, Banque Misr and Tanmeyah, an EFG Holding affiliate, established a EGP 500 million facility for micro-enterprises.

Source: EntArabi