Egypt Post and the Micro, Small, and Medium Enterprises Development Agency (MSMEDA) have inked a cooperation protocol on making MSMEDA services available through nationwide post offices, kiosks, and mobile post offices. This comes as part of the national efforts to achieve financial inclusion and enable different funding models in a way that helps support economic activities and promote microfinance.
Under the protocol, MESMEDA services will be available to more citizens in several areas, villages, and hamlets in all governorates. Taking advantage of Egypt Post’s resources, including a solid infrastructure and the nationwide availability of postal outlets, including 4,300 post offices as well as mobile post offices and postal kiosks, citizens will have better access to MSEMDA services.
The protocol is within the framework of Egypt Post’s strategy aimed at creating a reliable platform for rendering high-quality, yet affordable financial services to citizens and support the national efforts for attaining financial inclusion. The cooperation will also help promote entrepreneurship and self-employment, as owners of small businesses will be able to obtain a temporary license from MSMEDA through post offices.
Moreover, recipients of loans and licenses from MESMEDA will be able to receive or repay in cash. Post outlets will also deliver other financial services, empowering small producers and owners of micro-enterprises to run their businesses. Domestic and International shipping services are also available through post offices, helping small business owners and entrepreneurs reach local and global marketplaces.
The protocol reflects MSMEDA keenness to collaborate with Egypt Post to deliver services through post offices in administrative centers and rural areas. Services include project reconciliation application and cash repayment and disbursement for loan recipients and license holders.
Egypt Post and MSMEDA are soon to connect post offices with MSMEDA branches for a quicker and smoother service delivery.
