Three years after the launch of "Nile Pioneers" under the initiative of The Central Bank of Egypt
08/02/2022
Three years after the launch of "Nile Pioneers" under the initiative of The Central Bank of Egypt
The United Bank provides 1,925 non-banking services to 660 Egyptian entrepreneurs, and financing for start-ups and small companies with 100 million pounds
Ashraf El Kady - President of The United Bank
• The United Bank submits an annual financial statement in February for its achievements in "Nile Pioneers" initiative.
• Indicators and figures confirm the bank's keenness to promote the sector of entrepreneurship and small projects.
• Empowering young people and supporting their ideas, maximizing comprehensive development rates.
• 8 banking and non-banking services for "Nile Pioneers", The United Bank.
• Egypt is on the cusp of a fourth industrial and digital revolution.
• Addressing 5 challenges speeding Egypt's entry into the Fourth Industrial Revolution.
• Spreading the culture of entrepreneurship and small businesses is a step towards achieving Egypt's Vision 2030.
Nevine Kashmiry - Deputy Managing Director for Business Sectors, The United Bank
• "Nile Pioneers" are incubators for the future of the Egyptian industry.
• 3 "Nile Pioneers" centers and 68 The United Bank branches’ are a strategic partner for many successful entrepreneurs' stories.
• The development of supply and value chains is essential to the quality of the local product and the increase of Egyptian exports.
• The importance of documenting the technical and financial support steps as success models to be available to all educational and academic bodies and the private sector.
• Qualifying work team with the latest training courses in cooperation with the Banking Institute to support this promising sector.
Cairo: February 8th, 2022
On the occasion of the third anniversary of “Nile Pioneers” launching by The Central Bank of Egypt in cooperation with Nile University last February 2019, The United Bank presents a financial statement for what has been accomplished on the ground through 3 “Nile Pioneers” centers for the development of value and supply chains and outlets in 68 The United Bank branches spread throughout the Republic.
Indicators and figures confirm the bank's keenness to promote the sector of entrepreneurship and small projects
The United Bank provided 1925 non-banking technical and technological services to 660 Egyptian entrepreneurs’ allover Egypt's governorates. It aims to improve the work environment and help entrepreneurs, small projects and emerging companies to overcome the challenges they face, whether at the local or global market level.
The United Bank also provided full support and bank financing to 297 entrepreneurs who own small projects, with financings amounting to about 100 million pounds.
Commenting on these figures and indicators, Ashraf El Kady - President of The United Bank - says that this national initiative comes within the framework of the Egyptian state and The Central Bank's strategy to advance the sector of entrepreneurship, Egyptian start-ups and empower youth by providing them with full banking and technical support to maximize the role of this promising sector in serving the national economy and increase overall development rates.
8 Banking and non-banking services for the United Bank “Nile Pioneers” centers’
El Kady expressed that The United Bank's services provided to entrepreneurship projects, start-ups and small companies included 8 major banking and technical services aiming to develop the capabilities of these projects and ensure their sustainable development, which is reflected in the success rates and thus serves the overall economy of The Egyptian state, they are:
1. Providing technical and technological advisory services according to the requirements and activities of the projects with international quality specifications that suit the projects requirements.
2. Conducting extensive feasibility studies and a complete financial analysis to ensure that these projects are qualified for sustainable growth in profits and size.
3. Facilitating the processes of obtaining licenses, that contribute to eliminate the informal economy. Establishing legal and accounting frameworks that guarantee the state’s right and improve the citizens’ lives.
4. Intensifying enriches professionalism , cultural, financial and marketing rehabilitation for these projects owners’ by holding a series of intensive and specialized training courses to raise their efficiency in various parts of the Republic.
5. Providing linking and networking services between entrepreneurs, start-ups, supply chains and investors, whether in the local or global market, to ensure sustainable outlets for marketing their products internally or externally.
6. Facilitating entrepreneurs' access to the necessary and appropriate bank financing for their projects’ activities.
7. Participation in National awareness and educational campaigns, aiming to raise entrepreneurship’s culture and financial awareness, which contributes to the expanding the base of financial inclusion.
8. Providing all aspects of support and assistance to the projects’ owners most affected by the global Corona pandemic impact through full support programs to overcome the negative effects and turn them into competitive advantages that enable them to access to global markets and maximize their profits.
Egypt is on the cusp of a fourth industrial revolution
Ashraf El-Kady expressed that Egypt is on the cusp of a fourth digital industrial technological revolution that combines digital technology and the integration of value chains and the supply of products and services. Therefore, it is necessary to fully rehabilitate the economy mechanisms and address any challenges that may lead to a slowdown in Egypt's entry into the Fourth Industrial Revolution.
He added that The United Bank’s three "Nile Pioneers" centers, 68 branches’ outlets, aim to make a qualitative leap in the national industry by applying the approved studies for the development of value and supply chains as well as providing integrated support to bridge the gaps between the needs of the local and global market.
Remedy 5 challenges to speed Egypt's entry into the Fourth Industrial Revolution
El Kady pointed out to the 5 most important challenges that the Egyptian leadership is currently working on with the aim of ensuring the speedy entry of Egypt into the Fourth Industrial Revolution; spreading digital culture and raising awareness of the digital economic benefits, as well as dissemination of education and technical training to raise the efficiency of human cadres, expanding, creating infrastructure to keep pace with the requirements of the Fourth Industrial Revolution as well as attracting large financial investments to support this digital industrial trend.
Spreading entrepreneurship’s culture and small projects is a step towards achieving Egypt’s Vision 2030
Ashraf El Kady expressed that the culture of entrepreneurship and youth empowerment is the way to grow the economies of countries in general and Egypt in particular. Egypt is a young country by all standards. About 60% of Egypt's population is young age. This requires good planning to give them the strength and equip them with the necessary skills to create a work environment that supports and supports their success, which will benefit the entire Egyptian state in its path towards sustainable development.
The development of value and supply chains is essential to qualify local product and the increase of Egyptian exports
About the efforts of The United Bank in the field of value chain development and supply over the last three years of “Nile Pioneers” initiative of The Central Bank of Egypt, Nevine Kashmiry - Deputy Managing Director of Business Sectors, The United Bank - says that the development of value chains and supply has a significant impact on the development of the production and manufacturing sector. Which contributes to creating new job opportunities and empowering young people, especially in activities complementary to agricultural and productive activity, including: packaging, manufacturing, transportation, marketing...etc. As well as the process of linking value and supply chains with large factories to provide technical support to their suppliers which contributes in modernizing production methods and maintaining safety standards while adhering to environmental standards.
"Nile Pioneers" are for the Future’s incubators for Egyptian Industry
Kashmiry added that the business incubators located in The United Bank‘s 3 "Nile Pioneers" centers and 68 branches aim to provide a set of programs designed specifically to support, develop and succeed emerging companies. Through providing them with technical and technological services to support them in applying the best international practices and scientific foundations to support these projects, as well as participating in several media and awareness campaigns launched by The United Bank under the slogan "Intalek Ma’na " in parallel with the presidential initiative "Hayah Karima", which aims to develop the Egyptians and qualify them for prospective future.
The importance of documenting the technical and financial support procedures as success models available to all educational and academic entities , as well as private sector
Nevine Kashmiry highlighted the importance of documenting all these institutional efforts and steps in supporting this promising sector as success models that are inspiring and available to all educational and academic institutions, as well as the private sector. "Nile Pioneers" centers of The United Bank are considered a strategic partner in many success stories of entrepreneurs.
Qualifying The United Bank's team with the latest training courses in cooperation with The Banking Institute to support this promising sector.
Kashmiry explained that The United Bank is investing in its work team to qualify them to provide the best service for entrepreneurship sector and small and emerging projects through the latest specialized training courses in cooperation with the Egyptian Banking Institute and according to the determinants of The Central Bank of Egypt.
It is worth noting that The United Bank is one of the pioneering banks that participated in "Nile Pioneers" national initiative affiliated with the Central Bank of Egypt since its launch last 2019 in cooperation with Nile National University. The United Bank inaugurated 3 "Nile Pioneers" centers in Meniya, Dakahleya and Giza governorates as well as outlets in 68 branches scattered all over the Republic to serve entrepreneurs, start-ups and small companies and support their banking and technically. To qualify them to play a vital economic and social role to raise comprehensive development rates in accordance with the Egyptian state vision 2030. The United Bank also provided services in the field of developing the dairy, plastic and furniture industries as well as the support for students’ projects at Mansoura University for handicapped people and environmentally friendly electric cars in Meniya.
