Egyptian SME Development Agency Enables Clients to Pay Installments Online
Nevine Gamea, Egyptian Minister of Trade and Industry and Executive Director of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), announced that owners of small businesses funded by direct loans from the agency can now pay loan installments online through several companies. .
These companies include Waqty, Amwal and Tal2a, with payments possible through more than 15,000 service points available across the country owned by these companies.
Gamea said this step is in line with state guidelines to digitize various services provided to the public to facilitate these operations and save time and effort. This aspect is gaining in importance with the emergence of the novel coronavirus (COVID-19) pandemic and the precautionary measures taken to prevent the spread of the virus.
The Minister stressed that MSMEDA continues to implement its plan, which aims to provide various financial and non-financial services electronically.
This, in turn, allows the agency to expand its customer base and reach clients in various regions. It also ensures the transparency of these transactions to preserve the rights of customers.
She explained that MSMEDA currently provides a number of electronic services to business owners. They include the online application through the agency’s website for a certificate of business classification to benefit from the Project Development Act No. 152 of 2020.
It also allows applications for entrepreneurship training, via the Small Business platform, in addition to benefiting from various marketing services offered by the agency.
For his part, Yasser Helmy, head of the information systems sector at MSMEDA, said the agency is working to develop an integrated system to deliver its services electronically.
Payment channels will be completed to collect loan tranches, in cooperation with other companies working in this area. MSMEDA also coordinates with the electronic payment platform Khalis, to make its services available via its mobile telephone application.
Helmy pointed out that the agency’s direct lender clients can call its hotline 16733 for more details on how to pay through these companies.