A Family Business
Hossam Tammam is 40 years-old and brimming with enthusiasm. He is the owner of a small-business that bears his family’s name. It has grown significantly of late, an achievement that is a source of immense pride for his father, Gamal.
On his factory floor, 25 employees are now constantly busy cutting tin sheets, stamping them with the company’s logo, and molding them into cans. But Hossam has even greater plans. Access to credit has allowed him to grow this far, and he is now eyeing the two empty floors above his with a growing determination to have them bustle with the same kind of activity as the ground floor.
Access to credit is the key to expansion
In partnership with the Egyptian Social Fund for Development (SFD), the World Bank launched a US$300 million Enhancing Access to Finance for Micro and Small Enterprises Project. The aim of the project is to increase access to finance for micro and small enterprises (MSEs) on a sustainable basis. This would in turn support Egypt in meeting the many challenges it faces following the 2011 revolution, by encouraging private investment, creating new jobs, ending poverty, and promoting shared economic prosperity.