The Central Bank of Egypt (CBE) has honored the best five performing banks in the field of providing business development services as part of the NilePreneurs initiative.

The five banks are Banque Misr, QNB Alahli, Agricultural Bank of Egypt, the National Bank of Egypt, and Banque du Caire.

Also, the best ten employees at the business development centers were honored during the event.

The ceremony was attended by May Abulnaga, first sub-governor of the Central Bank of Egypt, Sherif Lokman, sub governor of the Central Bank of Egypt (CBE) for financial inclusion, and other bankers and officials.

Abulnaga said that CBE gives much focus to the SMEs as part of its strategy for financial inclusion.

The business development services centers are supporting the SMEs with the needed non-financial services in addition to creating a friendly business consulting environment, aimed at empowering young entrepreneurs, according to her.

The honoring ceremony came as part of celebrating the third anniversary of the NilePreneurs initiative, which is powered by CBE.

Fueled by various partnerships with governmental and private sector entities, NilePreneurs has been supporting startups and SMEs in the domains of manufacturing, agriculture, and digital transformation through applying different innovation instruments. The initiative is piloted at Nile University and has expanded to four other universities, and is still growing. 

MENA