Soha Soliman Appointed SFD Managing Director
Prime Minister Engineer Ibrahim Mahlab issued a decree appointing Ms. Soha Soliman Managing Director of SFD.
Ms. Soliman placed great emphasis on the importance of the SMEs sector that represents the largest stratum in the structure of the Egyptian economy and accounts for not less than 75% of direct labor. She pointed out to the efforts exerted by the Egyptian government through the Ministry of Industry, Trade, Small and Medium Enterprises to formulate a national strategy for micro, small and medium enterprises.
The Managing Director added the development of the SFD work mechanisms will come atop the priorities of the coming phase so that SFD will act as the State’s major tool in accelerating micro and small enterprises stressing that the next phase will witness more streamlined procedures and updated financial and non-financial mechanisms to promote entrepreneurship all over Egypt.
Within this framework, Ms. Soliman ascertained the keenness of Minister of Industry, Trade, Small and Medium Enterprises and SFD Supervisor Mr. Mounir Fakhry Abdul Nour to develop legislations regulating the SMEs sector to give more privileges to small investors and help such enterprises integrate into the formal sector.
During the last 20 years, Ms. Soha Soliman assumed numerous leading posts within the banking sector and was specialized since 2008 in the branch of SMEs development. As Head of the SMEs Corporate Banking at the National Bank of Egypt, she reviewed the SMEs finance policies that magnificently contributed towards increasing the SMEs portfolio from L.E. 3 billion to L.E. 13 billion serving 40,000 clients during the period from 2010 till 2014.
Ms. Soliman also concluded many international agreements this year with the Saudi Fund for Development totaling USD 200 million and held negotiations over USD 50 million to be provided by the Kuwaiti Fund for Arab Economic Development. Last year, she secured finance packages in the amount of USD 150 million from the European Investment Bank and the European Bank for Reconstruction and Development.