Egypt’s Ministry of Supply and Internal Trade has signed an agreement with the Micro, Small and Medium Enterprises Development Agency (MSMEDA) to transform existing state-subsidised supply outlets into a unified commercial franchise chain operating under the new brand “CARRY ON”, whilst financing new branches managed by youth.

The memorandum of understanding (MoU), signed by the Food Industries Holding Company (FIHC) and MSMEDA, targets the rehabilitation of current supply grocers and “Gamaeiti” project outlets. Minister of Supply and Internal Trade Sherif Farouk said the initiative will implement unified operational and design standards to ensure the regular availability of subsidised and free-market commodities at suitable prices, thereby controlling markets and enhancing competition.

MSMEDA will provide a comprehensive package of financial and non-financial services, including franchise financing, to both existing outlet owners and young entrepreneurs looking to establish new stores. MSMEDA Chief Executive Basil Rahmy stated the agency will coordinate with the supply ministry to review project feasibility studies and offer specialised training programmes in entrepreneurship, management, marketing, and operations to ensure the sustainability of the outlets within the new government commercial chain.

Farouk added that the cooperation involves sharing current outlet data for integration into the “CARRY ON” brand and mapping out the requirements for new outlets across the republic. The expansion will focus on areas in most need and new urban communities to achieve a fair distribution of supply services. The initiative aims to increase the supply of local food products to bolster food security and create sustainable jobs.

The agreement also encompasses digital transformation, establishing an electronic link between MSMEDA branches nationwide and the Internal Trade Development Authority. Rahmy explained this will allow for data exchange, enquiries, and the issuance of commercial registry services directly from MSMEDA offices, alongside facilitating licensing procedures through single-window units in the governorates.

A joint committee will be formed to monitor implementation across all governorates, evaluating performance based on clear indicators. These include the number of developed and new outlets, jobs created, and the volume of financial and training services provided. Farouk noted the collaboration aligns with the state’s strategy to modernise internal trade and partner with SME supporters to achieve sustainable economic development.

Member of Parliament Mohamed El-Garhy, head of the SMEs Committee, said the “CARRY ON” project will link small enterprises to the internal trade and food security system. He added that the upcoming period will see further cooperation with various ministries to build an integrated system connecting training and employment opportunities with SME support.

The MoU was signed by Ayman Ismail Soliman, non-executive chairperson of the FIHC, and Rahmy, in the presence of Farouk and El-Garhy. Also in attendance were FIHC Managing Director and Chief Executive Alaa Nagi, Internal Trade Development Authority Head and General Committee for Foreign Aid Supervisor Hossam El-Garahy, Assistant Minister for Projects Affairs and Official Spokesperson Ahmed Kamal, and Head of the Central Administration for the Minister’s Office Affairs Sarah El-Azazy, alongside other officials.

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