Access to Finance
Small and Medium Enterprises (SMEs) are a vital part of the Egyptian economy and contribute significantly to its economic growth. SMEs play a fundamental role in raising productivity, driving innovation and competition in many economic sectors. Small and Medium businesses often face hurdles financing growth and innovation.
Information Technology Industry Development Agency (ITIDA) aims to increase the opportunities for small businesses to obtain finance from banks, guarantee providers and various financial institutions. ITIDA is spurring focus on competitive advantages of ICT Small and Medium Enterprises as the engine of growth.
Access to finance, which is a part of financial inclusion business model, is substantial for funding investment, ensuring businesses reach their full growth potential, and facilitating new business start-ups. Ensuring SMEs have access to the finance they need to invest and grow is an important priority for ITIDA. ITIDA’s “access to finance” programs are concerned with assisting SMEs getting the finance necessary to their growth through banks, enjoying the advantages of being listed in stocks as well as benefits of venture capital in future.
Finance IT programs, ITIDA has set a number of strategic Finance IT programs to provide small - medium businesses with a variety of financial services packages. In this respect ITIDA has announced ITIDA/Banking Partnership Programs in cooperation with various financial institutions i.e. the National Bank of Egypt, NBE and the United Bank, UB, in addition to ITIDA/SFD Partnership Program with the Social Development Fund, SFD which mainly focuses on micro- small Enterprises.
Aimed at encouraging Investment funds to pump investments in ICT projects especially SMEs, ITIDA/Bedaya Partnership Program opens channels for IT companies registered at ITIDA databases to benefit from the equity capital sharing.
As NILEX, is the Egyptian Exchange market that provides Medium and Small fast growing businesses, including family-owned businesses, a clear access to capital and the benefits of being traded, ITIDA has announced ITIDA/EGX Partnership Program which aims at giving ICT SMEs a chance to raise capital within a regulatory environment designed specifically to meet their needs. NILEX offers relaxed listing and disclosure requirements as well as lower listing and trading fees.