“ABA” Small and Micro Enterprise Development Project held its annual Iftar on Thursday to honor its clients and staff, and to highlight its achievements over the past year.
Mr. Mohamed Hanno, ABA Chairman, expressed his appreciation for the efforts of the Advisory Board and Board members, praising the work of Dr. Sherif Shoman, Executive Director of the project, in improving the project’s performance and enhancing the quality of services offered. He emphasized the continued focus on strengthening the project through the use of information technology and keeping pace with digital transformation.
Eng. Medhat ElKady, ABA Vice Chairman and Head of the Project’s Advisory Board, stated that the project is one of the Association’s oldest initiatives. Over the years, it has contributed to providing decent employment opportunities while preserving citizens’ dignity, thus helping to address current economic challenges. He commended the executive team’s performance, starting with Dr. Sherif Shoman and all staff across the project’s branches.
Dr. Shoman presented the project’s key performance indicators and achievements, noting that the financing portfolio in Kafr El-Sheikh Governorate reached approximately EGP 2 billion. He also highlighted that the Association successfully issued loans worth EGP 13 billion in 2025 through 745,000 loans, out of a total of 3.1 million loans worth EGP 88 billion nationwide, capturing around 25% of the total loans in Egypt.
Dr. Shoman affirmed the project’s commitment to supporting Egypt Vision 2030, particularly its economic dimension, to achieve competitive and sustainable economic growth. He noted the focus on the agricultural sector, which represents 36% of the total financing portfolio, contributing to strengthening the economy and improving the investment climate.
The Executive Director also revealed a number of initiatives for the upcoming phase to tackle current challenges, including raising the minimum financing limit, increasing the number of mobile branches, introducing a supplier payment product, providing incentive schemes, restructuring salaries, and offering competitive interest rates. He noted that the project ranks 32nd in interest rates compared to similar institutions, highlighting its competitive financial products.
The Iftar ceremony was attended by Dr. Abdel Moneim Hafez, ABA Vice Chairman for Executive Office Affairs, Dr. Mohamed Mehrrem, Mr. Haitham ElKayar, as well as Board members Ms. Nermin Mamish, Eng. Ahmed Khaled Morsi, and Eng. Mohamed Arafa.
- News Eng
- By Rwan Morsy