Strengthening Egypt’s Economy through the provision of microfinance to the countries entrepreneurs and MSMEs
In the last 14 months Egypt has embarked on a programme of economic reform in order to put its economy back on track after the buffeting it took during a 3 year period which witnessed unprecedented political turmoil. The government has identified the development of the Micro, Small and Medium-Sized Enterprise(MSME) sector as a way in which it can reduce unemployment, create wealth and facilitate greater financial inclusion in the country which will help accelerate economic growth.
The access to finance for these MSMEs is pivotal to their development and in order to aid this a Microfinance law was issued in November 2015 to provide a regulated framework where Microfinance Institutions (MFI) would be formulated to service this market that was vastly under served by the banking industry in the country.
Since the issue of the law, nearly 650 organisations have applied for a microfinance license. Whilst the majority of these are NGO and charitable institutions there is a growing number of lenders who look at this market as a profitable sector in which the potential for growth is phenomenal.
However there still remain significant challenges such as navigating through the new regulations, adapting to new reporting requirements, access to funding for MFIs and establishing convenient payment solutions to reach the unbanked that need to be overcome before Egypt can achieve its objective of a comprehensive financing framework for the MSME sector. In light of these factors IQPC is organising the 2nd Microfinance Egypt Summit to be held in Cairo from 21-24 March.
- Understand the how the microfinance law has impacted the role of MFIs and NGOs in Egypt
- Hear about the role of Islamic microfinance in Egypt in order to develop products that appeal to the Shariah compliant market
- Learn how microfinance can assist in increasing wealth and alleviate poverty in one of the most populous countries in theregion
- Meet with investors and financiers that will be instrumental in funding your organisation in accordance with the EFSA’s capital requirements under the new law
- Gain an internationally recognised qualificationat our specialised 2-day Microfinance Workshop
Who should attend?
- Government authorities and regulators looking to create the most conducive environment for microfinance to thrive in Egypt
- Financiers and investment professionals that will seed and fund MFIs so they can continue operating under the new legislation
- MFIs, NGOs and Microfinance units that are responsible for developing the MSME sectorin Egypt
- Credit agencies that will help MFIs reduce their exposure to bad debt and mitigate risk
- Insurance and Takaful professionals that have the ability to provide suitable products for the microfinance sector