Prime Minister Mostafa Madbouly kept Nevine Gamea, Minister of Trade and Industry, as the head of the Micro, Small, and Medium Enterprises Development Agency (MSMEDA) for a period of 6 months, a position which Gamea held before becoming minister.
Gamea said that her assumption of the responsibility of the MSMEDA in addition to her position as Minister was due to her long experience with the agency and its development services, especially for the small and micro enterprises sector, and for accomplishing many outstanding tasks. She explained that this responsibility is completely separate from her responsibility as Minister, as the agency will remain under the direct supervision and management of the Prime Minister.
Gamea confirmed that the agency will continue to implement its strategy to support youth projects, and provide all aspects of financial, technical, and marketing support for these projects. She noted that the MSMEDA will continue to cooperate and coordinate with all ministries and state agencies involved in the small enterprise sector in order to advance this sector and expand its financing and participation in the country’s economy.
Gamea indicated that the agency actively participated with many competent authorities in developing the law for medium and small projects and its executive regulations, which are expected to be issued during the coming period. It is considered a legislative and developmental breakthrough to advance this sector and provide various aspects of support to encourage young people to set up projects.
It is noteworthy that Gamea graduated from the Faculty of Commerce at Cairo University in 1984, and has practical and banking experience extending over thirty years, where she was a leader in the investment, finance and retail banking sectors.
Gamea joined the MSMEDA, formerly known as the Social Fund for Development, in January 2005. she helped develop mechanisms and methods of financing, and contributed to the preparation of the first credit policy to finance small and micro-projects in April 2005, and also introduced direct financing to the activities of the agency.
In November 2016, she was chosen to be the first Secretary-General of the fund, which is the highest executive position in the fund. After the cancellation of the Social Fund and the establishment of the MSMEDA, she was chosen to be the first CEO.