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Banque Misr and Google Launch a Training Program Targeting Small Businesses in Egypt
04/04/2022
Banque Misr recently launched an initiative in collaboration with Google, through the “Skills from Google” program and the business development centers – Nilepreneurs; owing to the Bank’s conviction of the pivotal role played by micro, small and medium enterprises (MSMEs) in the Egyptian economy, insofar as reducing unemployment and boosting income. This is coupled with Banque Misr’s pioneering role in supporting entrepreneurship by offering non-financial services that keep pace with the various conditions and requirements of the economic phases experienced by Egypt, together with implementing the principle of continuity, especially in light of the changes brough about by the COVID-19 pandemic; specifically the way of conducting day-to-day activities using remote learning as an alternative to conventional methods.

The initiative aims to inform small business customers in the fields of e-marketing, fiscal management, entrepreneurship and digital upskilling through introductory lectures that highlight the importance of digital presence, assisting customers to overcome the economic repercussions of the pandemic and adapting to new ways of performing their daily business activities.

The initiative also seeks to assist customers in establishing websites on a complimentary basis and developing marketing skills to grow their respective businesses by introducing “Skills from Google” program. This is in addition to boosting financial skills via interactive sessions hosted by experts from Banque Misr. The program is set to be delivered to some 10 thousand trainees, at the conclusion of which each will receive a certificate of completion from both the Bank and Google, with the opportunity of trainees receiving funding for their businesses from Banque Misr.

Mr. Mohamed El-Etreby – Chairman of the Board of Banque Misr – stated that this initiative underscores the Bank’s strive for offering distinguished services, maintaining its longstanding success and actively partaking in initiatives that fulfil the needs of its customers. The Bank – being a leading banking institution – has consistently delivered protocols and initiatives aiming to provision services that suit the needs of all customer segments. He reiterated that Banque Misr attaches foremost importance to the MSMEs sector, due to its pivotal and strategic role in the national economy, whereby the Bank provides all financial and non-financial services required by the sector. To ensure that trainees continue to benefit from the program, they will be referred to the Bank’s business development centers under the “Nilepreneurs” initiative, in order to capitalize on the various business development and non-financial services that will assist them in launching new projects, expanding existing businesses and acquiring the necessary funding.

On his part, Mr. Hesham El-Nazer – General Manager of Google in Egypt – stated that, “Digital transformation has become an integral part of the development of any economic activity, regardless of its size. As such, we are delighted to cooperate with Banque Misr in supporting thousands of small local businesses, which constitute a cornerstone of the Egyptian economy, to acquire basic digital skills; through a series of workshops and training sessions with the objective of developing businesses across various platforms.”

Worth noting is that Banque Misr has provided online services in the field of financing SMEs; such as the express micro loan product, by allowing customers to apply for the loan and obtain the credit approvals at their premises. Bank employees visits customers, complete the required documents and provide the needed approvals on the same day, while disbursing the credit facilities by the following business day at most. Automating the microfinancing product reduces the time required for processing the loan and increases the base of micro enterprise customers. Additionally, Banque Misr had recently launched its new digital products under the “Express Online Loan” and “Online Projects Murabaha” product, which are considered the first digital financing programs of their kind in Egypt. Considered a breakthrough in project financing, these products enable the Bank’s customers to submit a financing application online via the website, without the need to visit the branch, on a step-by-step basis at minimum procedures. The small project financing loan is the fastest loan in Egypt and can be obtained within 5 days from the date of submission, subject to applicable terms and conditions.
 
Notably, Banque Misr recently achieved several accolades from a number of acclaimed global institutions, among which is “Best SME Bank - Egypt 2021”  from Cosmopolitan the Daily; “Best SME Bank - Egypt 2021” from World Business Outlook magazine; “Most Innovative SME Bank – Egypt 2021” from Global Business Outlook magazine; “Most Innovative SME Service Bank – Egypt 2021” from International Finance magazine; and “Best SME Bank – Egypt” for the years 2021 and 2020 from Asia Money – Euro Money.

The Bank’s acquisition of these awards is a testament to the trust of its customers, who are considered partners in success, as well as a testament to Banque Misr’s strive to offer new and innovative products and services that fulfil the needs of its customers.