Egypt's MSMEDA & Reefy Sign LE 300 Million Deal to Expand Microfinance

The Micro, Small and Medium Enterprise Development Agency (MSMEDA) has signed a LE 300 million financing agreement with Reefy Microfinance Enterprise Services to expand funding for micro enterprises across Egypt. The agreement was signed by Mohamed Medhat, Deputy CEO of MSMEDA, and Ahmed Labib, Managing Director and CEO of Reefy, in the presence of MSMEDA CEO Basel Rahmy.

The financing is aimed at supporting citizens and young people in establishing new micro businesses, as well as enabling existing enterprises to develop, expand, replace, or renew their activities. Funding will be channelled through Reefy’s nationwide network of 220 branches, allowing the programme to reach all governorates, including villages and hamlets.

Under the agreement, financing for a single project can reach up to LE 266,000, with the total funding expected to support around 3,000 micro projects nationwide. The initiative targets businesses where access to small-ticket capital can determine whether an enterprise can start or grow.

Reefy is expanding access to financial services in villages, rural areas, and Upper Egypt, with a focus on women and young people, as part of broader efforts to support sustainable economic development.