QNB Egypt strengthens its leadership in the SME sector, supports entrepreneurs and opens a new business development unit in Qena Governorate under the umbrella of the "Nile Preneurs " initiative.
As part of its ongoing efforts to support emerging small and medium enterprises, QNB Egypt signed a sponsorship contract with Nile University to launch a business accelerator program "Accelerating Local Industry 4.0", that aims to empower companies operating in the field of technology, develop innovative solutions that support the local industry, and enhance the competitiveness of Egyptian projects in local and international markets.
The contract was signed by Mr. Mohamed Bedier, CEO of QNB Egypt, and Dr. Wael Akl, President of Nile University, in the presence of Mr. Sherif Luqman, Deputy Governor of the Central Bank of Egypt for Financial Inclusion, and leaders of the Central Bank and the University.
The program aims to provide integrated support to startups through developing technological products and business development and providing opportunities to communicate with investors and industry experts, which contributes to creating a dynamic business environment that supports innovation and enhances the contribution of small and medium enterprises to the national economy. This cooperation also reflects QNB Egypt's commitment to its role in social responsibility by building effective partnerships with universities and research institutions, to prepare young cadres capable of leading the digital transformation in Egypt.
Mr. Mohamed Bedier, CEO of QNB Egypt, expressed his appreciation for the research and scientific efforts undertaken by Nile University in all fields, which in turn is reflected in the formation and preparation of qualified cadres for the labor market in various specializations, which contributes significantly to accelerating the pace of economic development, stressing the importance of the business accelerator program for companies in the field of technology, as participating companies will receive integrated support that includes product development, business development, and providing opportunities to communicate with industry experts and investors, enabling them to achieve sustainable growth and contribute effectively to the national economy, as technology has become one of the basic components and pillars on which most companies in various fields rely.
For his part, Mr. Sherif Luqman, Deputy Governor of the Central Bank of Egypt of Financial Inclusion, stressed the importance of innovation in universities and research centers and transforming it into practical applications that support the growth of emerging companies and enhance their competitive capabilities, especially in light of the tremendous industrial and technological development, which is an essential element in enhancing economic development. The role of the banking system comes as a pillar and supporter to achieve this integration, which contributes to providing advanced solutions to the challenges facing these projects with the aim of improving productivity and enhancing expansion opportunities in local and international markets.
Luqman added that financial inclusion is one of the main pillars for achieving sustainable economic growth, and within the framework of this vision, the Central Bank of Egypt pays great attention to providing a supportive environment for emerging small and medium enterprises as a major driver of economic growth and creating job opportunities.
For his part, Dr. Wael Akl, President of Nile University, expressed his welcome to the cooperation and partnership with QNB Egypt under the sponsorship of the Central Bank of Egypt in one of the important research fields that support small and medium-sized emerging companies, especially since the university seeks in its strategy and programs to develop the knowledge-based economy and technology, through linking the research centers at the university and technology incubators, as well as cooperation with all entities and institutions confirms that supporting this thought and the constructive partnership today with QNB Egypt.
Pointing out that Nile University is one of the universities of the future, because it provides everything that supports the idea of entrepreneurship, community service and market developments, and its work plans achieve the sustainable development strategy "Egypt Vision 2030" and support the national economic system, digital transformation and participation in national and development projects.
Opening a new business development center in Qena to support small and medium enterprises and entrepreneurship in Upper Egypt
In conjunction with the signing of the contract, Mr. Mohamed Bedier, CEO of QNB Egypt, and Mr. Sherif Luqman, Deputy Governor of the Central Bank of Egypt of Financial Inclusion, inaugurated a new business development unit in Qena Governorate, bringing the total number of business development centers affiliated with the bank to 7 centers and units in the Delta and Upper Egypt governorates. This expansion comes within the framework of the bank's vision aimed at supporting entrepreneurs and small projects in Upper Egypt, by providing financial and non-financial services that help emerging companies grow and expand, whether locally or regionally.
For his part, Mr. Sherif Luqman, stressed the importance of the role played by business development services centers in supporting entrepreneurs and owners of small and medium enterprises by providing all financial and non-financial services that help them establish and manage their projects and enhance their capabilities to expand and grow, noting that the Central Bank is working to expand the scope of these centers in various governorates to ensure that banking services reach all target groups, as the number of these centers reached 125 centers in 25 governorates, providing more than 765 thousand advisory services to more than 300 thousand beneficiaries, and the percentage of women and businesswomen reached about 40% since the start of operation in 2019.