Latest news with #BasselRahmy
Al-Ahram Weekly
11 hours ago
- Business
- Al-Ahram Weekly
The First of its Kind Collaboration with Imperial College London in the Region - Economy
Ushering through a strategic partnership to drive global sustainability solutions, Mentors Gate Development, a leading consultancy group working on SME and innovative entrepreneurship development across Africa and the Middle East, have joined hands with Imperial College London (ICL), ranked 1st in the UK and Europe; 2nd in the world in QS World University Rankings 2025, to officially launch a groundbreaking Industrial Wastewater Treatment Program, powered by ICL's WICKED Acceleration Labs, marking a critical step in advancing Egypt's environmental, industrial and economic goals. The initiative, unveiled during a high-level event in Cairo, aims to accelerate innovative, scalable solutions for industrial water treatment, aligning with Egypt's Vision 2030, UN Sustainable Development Goals, as well as the ongoing efforts for increased partnerships with the UK and EU countries towards creating viable opportunities for economic development in Egypt and the region. At the heart of this program is a commitment to driving real-world, sustainable impact. Industrial wastewater treatment has emerged as a global and national priority, with challenges pertaining to cost, infrastructure, regulations. The initiative targets not only technical innovation but also practical deployment, ecosystem engagement, and investment readiness. The launch event brought together a distinguished group of speakers on top of whom was Cristobal Garcia, Co-Founder of Wicked Acceleration Labs, Bassel Rahmy, MSMEDA Executive Director, Ambassador Magdy Amer, Former Egyptian Ambassador to China, FAO Communications Expert Rawya El Dabi, and ILO Project Manager Martin Ostenmeier. Respected guests included representatives of the UK Embassy in Egypt, the EU, as well as representatives from the Federation of Egyptian Industries (FEI), government entities, research institutions, and private sector leaders. Some of Mentors' Gates strategic partners have also joined the launch, most notably Orange Digital Center and Track 3 Consulting. Key highlights of the multi-day launch-visit included site tours in Alexandria's industrial zones, discussions at the City of Scientific Research and Technological Applications, and workshops that fostered dialogue between major players in Egypt's innovation ecosystem and lab representatives. Wicked Acceleration Labs Co-Founder & Faculty at IMPERIAL Business School, Dr. Cristobal Garcia-Herrera said that "This collaboration represents the essence of what Wicked Acceleration Labs were created to do—connect top-tier research institutions with on-the-ground 'wicked' and complex challenges in emerging economies, to drive effective solutions by envisioning desirable futures and orchestrating stakeholders. It is also of additional value to carry out this initiative in Egypt, where a spirit of advancement, collaboration and innovation is clearly sensed, and we plan to take this partnership with our partner-elect, Mentors' Gate, as a launching point to forge new, pioneering partnerships in the Middle East". Meanwhile, Dr. Mohamed El-Sery, Founder and CEO of Mentors' Gate Development, clarified that "Egypt is at a pivotal moment, and we believe this program can catalyze long-term change by merging innovation with industrial and environmental imperatives. It is a first of its kind initiative in the region, with one of the world's topmost academic entities on board, and it is an invaluable opportunity to move forward Egypt's sustainability plans". This program builds on the success of the Wicked Accelerator's previous global efforts, most notably with Imperial College London's Zikomo Initiative in Zambia - where Mentors' Gate played a key a role in the initiative - significantly reducing milk spoilage through solar refrigeration technology and increasing farmers' profit by 30-60%. The Egypt edition of Wicked Acceleration Labs seeks to replicate such impact by tackling Egypt's most pressing challenges and capitalize on increased call for sustainable, safety-ensuring and efficient practices, particularly as it comes on the heels of the UK and Egypt's announcement of a pledged $500 M fund towards Egypt's 'green growth' and decarbonization, Mentors Gate, the lead organizer and sponsor of the initiative in Egypt, is a global force in SME acceleration and entrepreneurship. With operations in 41 countries and a robust network of over 47,000 trainees and 12,750 business clients, the organization is well-positioned to empower startups and scale-ups working on sustainable industrial solutions. Their initiatives and projects focus on addressing sustainability, and food-nexus challenges including decarbonization and innovation development. For more information, visit: | Follow us on: Facebook Instagram Whatsapp Short link:
Zawya
22-05-2025
- Business
- Zawya
Latvia's CFLA explores partnership opportunities with Egypt's MSMEDA
Egypt - A delegation from Latvia's Central Finance and Contracting Agency (CFLA) visited the headquarters of Egypt's Micro, Small, and Medium Enterprise Development Agency (MSMEDA) in Cairo to explore potential areas of cooperation. The visit was arranged in coordination with the Latvian Embassy in Egypt. Bassel Rahmy, CEO of MSMEDA, said that the meeting builds on the growing ties between the two sides, which began in December when Latvia participated in the 'Turathna' (Our Heritage) exhibition for handicrafts and heritage products. Discussions focused on aligning Latvia's development cooperation initiatives with Egypt's national priorities—particularly in SME support, digital transformation, and capacity-building. The Latvian delegation reviewed CFLA's experience in providing technical assistance to the SME sector. Both parties also discussed launching joint projects in the near future, including youth and women-focused training programs, support for business incubators and accelerators, and expanded institutional collaboration. Rahmy reaffirmed MSMEDA's commitment to working with international development partners to strengthen Egypt's SME sector. He emphasized the importance of exchanging expertise and implementing bilateral programs that enhance local entrepreneurship and facilitate access to international markets. The Latvian Embassy expressed strong interest in learning more about MSMEDA's operations, project mechanisms, and areas for future cooperation. The meeting was attended by MSMEDA Deputy CEOs Raafat Abbas and Hatem El-Ashry, along with Ieva Juste, Commercial Affairs Officer at the Latvian Embassy in Cairo.
Daily News Egypt
21-05-2025
- Business
- Daily News Egypt
Latvia's CFLA explores partnership opportunities with Egypt's MSMEDA
A delegation from Latvia's Central Finance and Contracting Agency (CFLA) visited the headquarters of Egypt's Micro, Small, and Medium Enterprise Development Agency (MSMEDA) in Cairo to explore potential areas of cooperation. The visit was arranged in coordination with the Latvian Embassy in Egypt. Bassel Rahmy, CEO of MSMEDA, said that the meeting builds on the growing ties between the two sides, which began in December when Latvia participated in the 'Turathna' (Our Heritage) exhibition for handicrafts and heritage products. Discussions focused on aligning Latvia's development cooperation initiatives with Egypt's national priorities—particularly in SME support, digital transformation, and capacity-building. The Latvian delegation reviewed CFLA's experience in providing technical assistance to the SME sector. Both parties also discussed launching joint projects in the near future, including youth and women-focused training programs, support for business incubators and accelerators, and expanded institutional collaboration. Rahmy reaffirmed MSMEDA's commitment to working with international development partners to strengthen Egypt's SME sector. He emphasized the importance of exchanging expertise and implementing bilateral programs that enhance local entrepreneurship and facilitate access to international markets. The Latvian Embassy expressed strong interest in learning more about MSMEDA's operations, project mechanisms, and areas for future cooperation. The meeting was attended by MSMEDA Deputy CEOs Raafat Abbas and Hatem El-Ashry, along with Ieva Juste, Commercial Affairs Officer at the Latvian Embassy in Cairo.
Daily News Egypt
10-05-2025
- Business
- Daily News Egypt
EGP 920m invested in 31,000 youth projects in Damietta over 9 months: MSMEDA CEO
Bassel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), announced that nearly EGP 920m has been invested in youth-led projects across Damietta from July 2014 to March 2025. The funding supported the establishment and growth of approximately 31,000 micro, small, and medium enterprises, creating around 70,000 job opportunities. In addition, MSMEDA-backed infrastructure, community development, and training projects have generated 29,000 workdays for irregular laborers, laying the groundwork for further small business development. Rahmy emphasized Damietta's strategic industrial importance as one of the world's top centers for furniture and wood product manufacturing. He reiterated MSMEDA's commitment to providing comprehensive financial and technical services to support MSMEs in the governorate. He also praised the strong support of the Egyptian government and Prime Minister Mostafa Madbouly—who also chairs MSMEDA's board—for their commitment to bolstering existing businesses, expanding funding for new ventures, and fostering an environment conducive to private investment. These efforts aim to create decent and sustainable job opportunities for youth in Damietta and boost the contribution of local industries to economic development, whether for domestic needs or export markets. Speaking during Damietta's National Day celebrations, Rahmy noted that MSMEDA works actively to streamline access to services for both aspiring and existing entrepreneurs. Through its one-stop shop model, the agency has facilitated legal and administrative formalization for thousands of businesses in the governorate. Between July 2014 and March 2025, MSMEDA issued 1,492 temporary licenses for new businesses, along with 1,128 final operating licenses. The agency also processed 431 status adjustment permits and 146 final adjustment licenses for businesses seeking compliance under updated regulations. Additionally, it issued 371 tax cards and 571 commercial registrations, enabling entrepreneurs to begin operating formally. Social insurance coverage was secured for 336 businesses, while 1,121 classification certificates and 1,117 incentive eligibility certificates were also granted under the MSME support framework. Rahmy highlighted MSMEDA's ongoing partnership with the Damietta Governorate to organize the 'Made in Damietta' furniture exhibition, held multiple times each year in Cairo. Since its launch in 2016, the expo has achieved sales in the tens ofms of Egyptian pounds, helping to elevate the visibility of Damietta's furniture industry and drive commercial growth in the sector. He concluded by emphasizing MSMEDA's flexible and competitive financing options for industrial and productive projects, along with its strong institutional backing for business formalization. Entrepreneurs in Damietta are also encouraged to take advantage of incentives available under Law No. 152 of 2020, which governs the development of small and medium enterprises across Egypt.
Zawya
28-04-2025
- Business
- Zawya
MSMEDA injects $15.69mln into North, South Sinai to boost small projects
Egypt - Bassel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), announced that the Authority has injected approximately EGP 800m into North and South Sinai from July 2014 through the end of 2024. This financing has supported around 9,600 small and micro projects, generating over 23,000 job opportunities for the people of Sinai. Speaking on the occasion of Sinai Liberation Day, Rahmy reaffirmed MSMEDA's commitment to providing both financial and technical support to small enterprises in Sinai, leveraging their potential to create employment, particularly among youth. He emphasized that this effort aligns with directives from Prime Minister Mostafa Madbouly, who chairs the Authority's Board of Directors, and reflects the political leadership's vision for driving comprehensive development across Sinai, with a strong focus on empowering young graduates and women. Rahmy noted that MSMEDA's efforts extend beyond financial services, with a wide range of non-financial initiatives, including awareness campaigns, entrepreneurship training, marketing support, and participation in exhibitions. Special emphasis has been placed on empowering women economically and socially. The Authority has organised training courses in traditional crafts and handicrafts to enhance women's skills, alongside administrative and marketing training to enable them to manage their businesses effectively. Additionally, MSMEDA has worked to help female entrepreneurs market their products through prominent exhibitions such as 'Turathna' (Our Heritage). It has also provided capacity-building training for associations and organisations that support handicraft industries in Sinai, enhancing their competitiveness. Rahmy revealed that preparations are underway to provide trained women with modern sewing machines, along with specialised training on their use, in collaboration with the Spanish Agency for International Development Cooperation. Looking ahead, Rahmy explained that MSMEDA has an ambitious plan to continue expanding small and micro enterprises across Sinai, providing comprehensive support for new and existing projects. He confirmed that MSMEDA's regional branches, working in partnership with universities, educational directorates, and civil society organisations, have launched free training courses aimed at equipping Sinai's youth with the skills needed to start and manage their own businesses. These programmes help participants choose project ideas suited to their experience and academic backgrounds, secure financing, and establish productive enterprises that leverage Sinai's rich natural resources. Rahmy also highlighted the Authority's efforts to familiarise citizens with the incentives offered under Law 152/2020 on the Development of Medium, Small, and Micro Enterprises. By transitioning from the informal to the formal sector and obtaining official classification certificates, entrepreneurs can access a wide range of government services and benefits designed to help grow and expand their businesses.
