Owing to its firm belief in the role played by enterprises in driving the national economy – especially in light of the current circumstances involving the COVID-19 crisis – Banque Misr has provided a complete and comprehensive program to support its MSME customers, via Business Development Centers “Nilepreneurs”, which includes the following:

First: Awareness, Advice and Knowledge Services:

• Encouraging project owners to undertake the necessary measures for combating COVID-19, as well as precautionary settings for safeguarding the health of their workers.

• For labor-intensive projects, providing advice to customers to avoid halting production, minimize interaction between workers and observe preventive measures.

• Spreading awareness amongst customers regarding the initiatives launched by the Central Bank of Egypt during this period, pertaining to addressing the crisis.

• Rendering technical support to project owners and managers

• Educating customers on the available online payment schemes and encouraging their use

Second: Marketing Services:

• Encouraging customers to avail online marketing to showcase products and drive e-commerce

• Directing customers to shift from face-to-face marketing to online marketing

• Providing training that could assist project owners in mitigating the adverse effects of the current crisis and assisting them in completing banking transactions in lieu of social distancing; as part of crisis management training. This is in addition to capitalizing on opportunities, cutting costs, increasing sales, adjusting to market changes and practicing corporate online banking.

• Providing the required training, guidance and advice through videos or direct broadcast to customers.

Fourth: Business Partner Services

Assisting customers in communicating with targeted clients and urgent suppliers during this time.

• Performing a financial analysis for the company in order to determine its financial policy, while working to establish a new policy for managing the subsequent financial phase – in case of losses to the project – and capitalizing on CBE initiatives.

• Seeking to provide guidance and advice on cutting costs, increasing sales and adjusting to current market changes and developments, in order to timely fulfil banking commitments and emerge from the crisis with minimum losses.

• Performing feasibility studies for new project owners

• Performing new feasibility studies for existing projects in order to expand activities, increase production and boost sales.

• Availing information on financing products to customers according to the geographical location, nature of activities and size of the required financing.
  

• Assisting customers in preparing their credit portfolios and necessary documentation for considering their financing application and educating them on dealing with financing institutions, managing bank accounts and the factors to be taken into consideration to avoid bad credit rating – by banking or non-banking institutions.

• The initiative will start with governorates hosting the business centers, thereafter, expanding to other governorates.

• Program services will be rendered to our finance customers

God bless Egypt…