The United Bank presents and Nile Pioneers – Value Chain initiative under the patroonship of The Central Bank of Egypt

20/02/2024

After five years of launching the “Nile Pioneers” initiative

The United Bank presents and Nile Pioneers – Value Chain initiative under the patroonship of The Central Bank of Egypt

Ashraf El Kady- The Chief Executive Officer and Managing Director, The United Bank

• UB supports more than 477 small enterprises.
• UB provided more than 10910 technical non- banking service for more than 3021 entrepreneurs and enterprises through business development center under the auspices of Nile Pioneers initiative.
• Empowering youth and letting their innovative ideas implemented in productive and service projects maximize the rates of integrated development.

Nevine Kashmiry- Deputy of Managing Director for Business Sector

• 3 Nile Pioneers centers and 68 UB branches are strategic partners for many successful entrepreneurs’ stories.
• Developing value chain and supply chains are critical for the quality of the local product and increasing Egyptian exports.

 

Cairo:20 February 2024

The United Bank issued 5 years accomplishment report for Nile Pioneers initiative, launched by The Central Bank of Egypt in 2019. Many achievements have been accomplished in the field of entrepreneurships, start- ups, small and middle enterprises, with the cooperation of Nile University and many corporates and banks.

UB participated in Nile Pioneers initiative with two programs. Business development center, to present non- financial consultative services, youth, start- ups owners, small and medium enterprises, and the program for developing value chains in the field of textile and furniture.

Over the five years, UB exerted exceptional efforts to support entrepreneurs, as the number of non- banking consulting services that UB provided exceed 10910 services, more than 3021 entrepreneurs got benefits from such services. Those services include developing ideas, assistance in preparing feasibility studies, preparing credit documents, getting licenses, and supporting digital transformation for the already established companies. UB provided full support and banking finance for 477 small enterprise- entrepreneurs through 4 business development centers in El Menya, Dakahlya, and Giza. In addition to, sections in 68 UB branches all over the Republic to serve entrepreneurs, start- ups. UB supported them on a banking level and technical level, UB qualified them to make their economic and vital social roles in order to raise the rates of integrated development as per the Egyptian State vision 2030.

In the framework of Nile Pioneers initiative, UB launched developing textile and ready-to-wear sector program. The program aims to increase the efficiency of the operating companies in this sector, increase the ability to export, being available on local and international electronic platforms. As well as, raising the efficiency of management, quality, expenses control, improving the report system of production line. The program was presented for 390 person from 24 companies. Start- ups and Egyptian innovative ideas especially for young people have gained a lot of care and focus.

A specialized program for furniture industry aiming to improve production, quality, and raise its competitiveness in the local and international markets. This program was presented to 33 Egyptian companies for ten months. The sales have been rocketed by more than 200 million L.E.

Ashraf El Kady- The Chief Executive Officer and Managing Director, The United Bank, stated that UB is devoted to upgrade entrepreneurships, start- ups, and empowering youth. Through providing banking and non- banking support. In order to maximize the role played by this promising sector in the national economy and increasing rates of integrated development.

He added that the bank provides many services for entrepreneurships, start- ups, and small and medium enterprises. Such as facilitating getting licenses to contribute to merge the informal economy with the formal one. As well as, networking among entrepreneurs, start- ups, supply chains, and investors. UB simplifies getting the required banking finance for those projects. In order to help developing the capabilities of these projects, and guaranteeing the process of sustainable development, which will positively reflect on the successful rates and consequently serve the Egyptian economy.

Nevine Kashmiry- Deputy of Managing Director for Business Sector said that UB provided support through the value chain program for more than 438 companies. 57 companies among them received digital transformation support program. As well as, it provided training courses for around 831 entrepreneurs. These exerted efforts contributed to increasing the companies’ sales with 290 million L.E. and a million L.E. expenses saving. 25 websites, 25 exports transactions. Developing 10 companies’ profile.  33 furniture companies, 24 textile companies received the program. With the cooperation of all of the textile and ready-to-wear chamber, The Exports Council for furniture, and a number of other local and international entities.

She added that the business nurseries are available in the 3 Nile Pioneers center, and 68 UB branches. These nurseries aim to provide specialized programs for supporting and developing start-ups. That is through providing technical services to support applying the best global practices, and scientific fundamentals. In addition to, participating in many awareness and media campaigns with UB, under the slogan of “entalek ma3ana” in conjunction with the presidential initiative “Decent Life” that aims developing the Egyptian human and qualifying him/ her to the future.

 

End.