FEDCOC forms businesswomen’s committee, eases financing for small projects

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Ibrahim Al-Arabi, President of the Federation of Egyptian Chambers of Commerce (FEDCOC), has issued a decision to establish a committee for businesswomen headed by Dina Yaqout.

Al-Arabi said that the committee will contribute to achieving a set of economic and social goals that are in line with Egypt’s vision for economic growth 2030. 

It targets: empowering women; providing a decent life for all segments groups of Egyptian society; providing a decent life for residents in rural areas, including small enterprises in the formal economy; and providing new job opportunities for women.

Al-Arabi’s decision to form the committee for women, Decision No 16 of 2021, stipulates that its members include: Dina Fathy Talaat; Heba Faisal; Rania Al-Shimy; Nahla Ibrahim Rushdie; Lamis Sabri Kamal; Amal Mahmoud Ibrahim; Fatima Abdel Moneim Tawfik; Ruqayya Al-Hilaly; Nadia Abu Garma; and Dina Mustafa.

He explained that the women’s committee at the Ismailia Chamber of Commerce, which Yaqout headed, successfully developed small enterprises and providing training in project management. It also successfully provided easy financing opportunities for women to start their project.

The committee was behind the establishment of a general committee to support women and empower them economically at FEDCOC.

Yaqout said that the new committee’s work strategy will provide all training and financing opportunities for women’s projects across Egypt. This will take place by providing all training opportunities necessary to start and manage micro, small, and medium enterprises (MSMEs), according to the needs of business owners. 

This will take into account whether the projects are being started, whether they require management, or even marketing production through online platforms.

She added that the products manufactured by small Egyptian enterprises have promising opportunities, whether in the local or global markets. What they lack however, is the professionalism in meeting the requirements of the global markets. 

This segment also lacks appropriate marketing, which is where the committee will develop public awareness for the project owners to implement.

Yaqout indicated that the experience of the Women’s Committee in the Ismailia Chamber of Commerce succeeded in providing easy low-interest financing for over 40 new projects, in cooperation with the Nasser Social Bank. 

Under Yaqout’s leadership, the committee also succeeded in bringing 25 small projects into the formal economy by providing concessional financing amounting to EGP 20,000. The financing was provided for women to start new projects or develop small existing projects. 

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Source: egyptianstreets