Nilepreneurs- A new initiative by the Central Bank to support small and medium enterprises
The Central Bank signed a collaboration agreement with Nile University for 5 years under the name of “Nilepreneurs” aimed at developing, qualifying and increasing the capabilities of young entrepreneurs in small and medium enterprises, by benefiting from the points of excellence at Nile University in scientific and research expertise.
Banks are providing support in addition for establishing of business development centers in geographical areas with promising investment opportunities; especially in the manufacturing area with all its fields, which increases the employment opportunities for young people.
Mr. Tarek Amer, Governor of the Central Bank, explained that the aim of this initiative is to push the sector of small and medium enterprises to develop their contribution to the national economy and in order to integrate the informal economy into the formal economy, so as to contribute to increasing domestic output; also Professor Lubna Helal, Deputy Governor of the Central Bank confirmed that this initiative increases the contribution of the banking system to the development of business and the development of small and medium enterprises and encourage young people to make the culture of entrepreneurship a reality on the ground.
Mr. Sherif Sami, Chairman of the Financial Supervisory Authority, said that the Authority will participate in the preparation of manuals, tools and training, particularly in the fields of development, including financial leasing, privatization, real estate financing as well as banking finance.
Dr. Tarek Khalil, Nile University’s President expressed his deep appreciation for this serious initiative by the Central Bank and Nile University in return will provide the headquarters and centers of business services in universities and other entities and provide technical support, training and organize convoys of the Nilepreneurs to tour the various governorates of Egypt to promote and accelerate the deployment and achieve goals.
In recognition of the principle of participation, cooperation and coordination, Mrs. Niven Gamea, CEO of the SME Development Agency said that she will put all the capabilities of the agency in the field of entrepreneurship to make this initiative a success.