Egypt’s Trade and Industry Minister Tarek Qabil and Cameroon’s Minister of Small and Medium Enterprises, Social Economy and Handicrafts Laurent Serge, inked amid a Cairo trip, a 5-year memorandum of understanding (MoU) on small and medium enterprises industry.

Minister Qabil said that the deal makes for a new phase of economic cooperation between both the nations. He said that it develops a system for technical, scientific and technological cooperation in the sector of small and medium enterprises.

Serge emphasised his nation’s interest on developing bonds with Egypt. Meanwhile, Egypt has received $500m from Saudi Arabia, the first instalment of a $2.5b grant that was approved last week.