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HomeAfricaNasser Social Bank launches ‘Fatehit Kheir’ for micro-enterprise finance - Dailynewsegypt

Nasser Social Bank launches ‘Fatehit Kheir’ for micro-enterprise finance – Dailynewsegypt

Nasser Social Bank has unveiled its latest financial product, “Fatehit Kheir”, designed to empower micro-enterprises across Egypt. 

The program offers financing ranging from EGP 4,000 to EGP 200,000, catering to both men and women between the ages of 21 and 60. With flexible repayment terms extending up to two years, this initiative aims to stimulate economic growth and job creation at the grassroots level.

“Fatehit Kheir” is a testament to Nasser Social Bank’s ongoing commitment to developing innovative financial solutions that address the unique needs of the Egyptian population. By focusing on micro-enterprises, the bank recognizes their crucial role in driving economic development and improving livelihoods across the country.

“This new product is part of our broader strategy to expand access to affordable financing for all segments of society,” stated Nevine El-Kabbaj, Minister of Social Solidarity and Chairperson of the Board of Directors of Nasser Social Bank. “We believe that by empowering micro-entrepreneurs, we can create a ripple effect that will positively impact the entire economy.”

The government’s efforts to foster a supportive environment for small and micro-businesses have paved the way for initiatives like “Fatehit Kheir”. By providing financial resources and other forms of support, the government aims to unlock the full potential of Egypt’s entrepreneurial spirit.

“Small and micro-enterprises are the backbone of our economy,” emphasized Mohamed Abdel Fadil, Deputy Chairperson of Nasser Social Bank. “They create jobs, generate income, and contribute to the overall well-being of our communities. Through ‘Fatehit Kheir’, we are providing them with the tools they need to succeed and thrive.”

The program’s flexible financing options and extended repayment terms are designed to accommodate the diverse needs of micro-entrepreneurs across various sectors, including commercial, livestock production, service, industrial, and home-based businesses.