Latest in Tag: microfinance Highlight
Latest in Tag: microfinance
Microfinance increases to EGP 64.6bn in June 2022: CBE
Banks record EGP 48.3bn in mortgage finance for to 436,900 low, middle-income customers in September
FRA amends controls of microfinance, SME finance
The FRA noted that some companies, associations and civil institutions licensed to engage in financing activities for small, medium-sized and micro enterprises provide supplementary financing to their clients, so that the recipient of financing can obtain new financing before the completion of the original payment period for the same type of existing financing. In a way that allows the customer to replace, in whole or in part, what was previously paid in the financing account, by providing him with new financing under different names, whether with the same value paid or others, without taking into account technical considerations necessary for the safety of granting financing.
Al Baraka Bank offers EGP 90m to Solidarity Microfinance to support microenterprises by women
Bank is keen on developing role of women economically and socially: Chairperson Hazem Hegazy
FRA issues first license for Islamic microfinance activity
3.8 million citizens so far benefited from micro-enterprise financing services in 2022, 64% of which were youths
Al-Ahly Momkn signs protocol with Lead Foundation to collect instalments of microfinance
Ahmed Enayet, Managing Director and CEO of Al-Ahly Momkn, said that cooperating with Lead gives its clients the ease of paying instalments and disbursing the funds allocated for financing their projects, through Al-Ahly Momkn’s network, which covers all parts of the country.
FRA studies licensing green Islamic microfinance products
Study conducted to allow movable collateral registries for consumer finance activity
Fawry Microfinance exceeds EGP 1bn barrier for loans granted since its establishment
Fawry Microfinance was established in 2018 with the aim of providing entrepreneurs from small companies across the country with affordable financial solutions, benefiting from a sophisticated digital system for granting loans and collecting instalments. The company’s activities in microfinance have contributed to supporting the country’s efforts in achieving financial inclusion and promoting the digital transformation of financial services.
FRA studies feasibility of green, Islamic microfinance products in Egypt
The suggested products are sustainable green and Islamic microfinance instruments, along with a special product to serve the agricultural sector.
Microfinance institutions pump EGP 3.7bn into ‘Decent Life’ initiative
48% of financing was directed to women-led projects
CBE sponsors 3-year programme to raise efficiency of microfinance associations
Programme will be implemented by EFFMSMP in cooperation with IFC
Microfinance activities record EGP 25bn in October 2021: FRA
Microfinance companies account for largest market share in October 2021, at 56.98%
Egypt’s microfinance market amounts to EGP 22.53bn in Q2 of 2021: Financial Regulator
Tasaheel Co. accounts for 21.82% market share, with total financing of EGP 4.578bn
Egypt injects EGP 2.8bn into over 87k small, micro projects in H1 2021
Minister Nevin Gamea urges citizens to benefit from MSMEDA services to finance their new projects
Egypt’s Financial Regulator approves 1st microfinance leasing licence
Total of 3.3 million benefit from microfinance services, with financing portfolio of EGP 21.7bn in May 2021
Egypt’s microfinance activity increases to EGP 21.61bn in April 2021: FRA
Commercial sector receives largest share of microfinance at 61.4%
Egypt’s SMEs Development Agency, Banque du Caire sign EGP 500m microfinance agreement
Contract allows for limit of loans provided to micro-projects to be raised to EGP 500,000 each
Egypt’s microfinance portfolio reached EGP 47bn by 2020 end: CBE Sub-Governor
Small enterprises play inherent role in Egyptian economy to achieve development, create jobs, says Minister Al-Mashat
950 companies, associations in Egypt provide microfinance through 2,818 outlets
The number of existing outlets for Category A associations and institutions amounted to 722 outlets for 17 entities, and a network of 705 branches.
NBE’s Tamkeen for microfinance begins activities in Upper Egypt
Company plans to acquire number of fintech, non-banking service companies during next three years, integrate them into current platform, says Chairperson Dalia Al-Baz
Women account for 62% of Egypt microfinance in 2020: El-Said
Two million women benefit from mobile payment services
Tamweely Microfinance continues strong performance as portfolio exceeds EGP 1.07bn
Company’s net profit increases 75% to EGP 51.5m in 2020, compared to EGP 29m in 2019, says Chairperson
Agricultural Bank of Egypt expands ‘Bab Rizq’ microfinance programme to 150 branches
Programme aims to increase income, improve livelihoods in rural areas, achieve financial inclusion for female breadwinners, says Alaa Farouk
Ibnsina Pharma, banks partner to offer microfinance services to pharmacies
Company to launch 2nd version of its mobile application, introducing new features such as online payments, during H1 of 2021
Egypt’s microfinance records EGP 42.7bn in September
Mona Zulfikar, Chairperson of the Egyptian Microfinance Federation said that the beneficiary base rose by 0.5% to 3.9 million customers in Q3 of 2020
Fawry’s General Assembly considers approving EAEF loan to its microfinance arm
Company’s General Assembly also discusses initial financing offer from Banque Misr valued at EGP 150m
MSMEDA, Banque Misr sign EGP 500m worth microfinance contract
The contract was signed by Minister of Trade and Industry and MSMEDA Executive Director Nevine Gamea and Banque Misr Chairperson Mohamed El Etreby.
Tamweely, MerQ launch 1st microfinance market chatbot
Chatbot enhances company’s plan for digital transformation
Egypt’s microfinance market records EGP 17.866bn in Q1 of 2020
About 2,456 customers benefited from nano-finance products, with total EGP 577.3m in funds granted
Egypt’s microfinance portfolio stands at EGP 17.8bn end-March: FRA
2,700 citizens use nano-finance products with loans amounting to EGP 650,000 end-May, says Omran
Tamweely adopts FRA-outlined measures to protect microfinance customers from COVID-19 fallout
Tamweely Microfinance started activity in August 2018 with capital of EGP 75m financed by NI Capital, Ayady for Investment and Development, and Post for investments