MEO – Dr Khaled Hanafi, the Minister of Supply and Internal Trade, announced the opening of a number of branches of the retail project for young people in the governorates of Cairo, Alexandria and Sharqiya within the coming few days. The project aims to sell food and other commodities to citizens at discounted prices and exchanging supply goods in “bread points” through smart ration cards.
Around 51 young man and woman applied for the ‘Gameeti’ project in the first phase at all 31 Social Fund for Development across the country, he said, adding that those who have been accepted will begin work soon. Some 14,088 youth’s applications are being checked.
This came during a meeting held by Dr Hanafi with Suha Suleiman, the Secretary General of the Social Fund for Development, and Nevin Gamei, the head of the fund’s Central Sector, during which they review the Gameeti project and applications submitted so far.
The meeting was attended by Maj. Gen. Ibrahim Hassanein, the head of the Holding Company for Food Industries, and Iman Moussa, the Assistant Minister of Supply
Hanafi stressed that the project aims to provide food commodities to citizens at reduced prices through opening retail outlets in villages and townships in the various governorates help reach stability in prices and create job opportunities for to reduce unemployment. The project includes offering commodity loans for young people ranging between EGP 50,000 to 100,000 each for the establishment of retail outlets supervised through a franchise right by the Holding Company for food Industries to provide job opportunities for young people and increase commodity and food outlets to citizens. He added that the conditions on which the applicants will be awarded the commodity loan is to have a place not less than 30 meters with a lease of at least five years and is at least 21 years of age and not more than 45 years. He/she should be holding a preparatory or secondary school degree and completed the military service or was exempted. They also should have a clear criminal record and are not appointed in the government or public sector and had not obtained any loans from the fund. The loan has a simple interest rate of 5.5% and the period of grace of 4 months and 5 years.
He added that the application procedures have been made easy through a one-stop shop -the young man and an electronic system- that shows the goods and sales movement of the Holding Company for Food Industries. The youths will get training courses on sales methods before beginning the project, he added.
