Egyptian insurers to break into the MSMEs market

micro small medium enterprisesThe Insurance Federation of Egypt (IFE) has published a study on the challenges facing the penetration of insurance in the micro, small and medium enterprises (MSME) sector.

The report highlights the need for compulsory coverage and recommends the regularization of the informal sector. The number of micro-enterprises and SMEs was estimated at 3.65 million in 2017-2018.

Nearly 55% of these operators work in the informal sector and do not benefit from any insurance nor social security.

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