Banque Misr taps Talabat Egypt to provide financial and non-financial services MSMes

Egyptian State-owned “Banque Misr” has signed an agreement with food delivery services provider Talabat Egypt to offer financial and non-financial services to Micro and Small businesses (MSMes), per a press release issued Monday.
According to the agreement, Talabat Egypt’s partners will receive concessional financing of up to EGP 2 million ($65,000) needed for their micro and small projects within five working days.
The partners will also open online accounts for their businesses within 24 hours by submitting three documents. The deal seeks to empower local projects in Egypt via offering financing solutions and a package of digital services, as it targets to support the development of restaurants and brands across different business stages, the press release said.
For the bank’s Head of the SMEs and Microfinance Sector Amr Demerdash, the agreement is part of Banque Misr’s strategy to support projects of various sizes.