Egyptian gov., NGOs partner up to create 50K jobs with funds worth LE36.5M

Mon, 20 Feb 2023 - 02:14 GMT

The Ministry of Social Solidarity signed Monday contracts with 10 NGOs to contribute to the creation of 50,000 job opportunities.

Egypt's 'Takaful wa Karama' to offer microfinance to rural beneficiaries

Tue, 24 Jan 2023 - 11:38 GMT

The Rural Industries Support Fund is finalizing a microfinancing programme targeting Takaful w Karama beneficiaries residing the countryside.

Sovereign Fund of Egypt, Etisalat Egypt launch ‘Erada’ Microfinance

Mon, 16 Jan 2023 - 10:10 GMT

The company enables access to a wide range of financial services to micro and small enterprises.

Financing micro-enterprises in Egypt reaches LE64.6B by end of June 2022

Sun, 28 Aug 2022 - 03:15 GMT

The non-governmental organizations (NGOs) and financing companies working in financing micro-projects from members of the Federation granted LE 31.9 billion to serve 3.8 million customers, while the banking system injected funds (up to LE 20,000) by about LE 32.7 billion, to 778,000 customers by the end of June 2022.

Microfinance in Egypt exceeds LE19B in 2020

Sun, 28 Feb 2021 - 11:09 GMT

FRA indicated in a report, Saturday, that the number of microfinance beneficiaries reached 3.2 million by the end of 2020, up from 3.1 million during 2019.

Microfinance in Egypt grows by 7% in 3rd quarter of 2020

Thu, 31 Dec 2020 - 08:37 GMT

The number of beneficiaries also rose slightly by 0.5 percent.

Microfinance records 47% growth in 2019

Tue, 25 Feb 2020 - 04:18 GMT

Also, the number of beneficiaries grew by 11.8 percent.

Credit portfolio of microfinance industry hits LE21.2B by end of Q2 2019

Thu, 08 Aug 2019 - 10:49 GMT

The number of beneficiaries reached 3.3 million customers with a growth rate of 14.1 percent, compared to the results of the end of the second quarter of 2018.

112 NGOs receive LE376 million in October

Sun, 11 Nov 2018 - 02:09 GMT

Wali explained that 55 foreign entities provided 151 grants to 112 NGOs in Egypt.

Microfinance rises to LE15.6B serving 2.9 million customers

Sun, 02 Sep 2018 - 10:54 GMT

Zulficar stated that the number of enterprises holding licenses to provide microfinance increased to six while that of NGO’s rose to 897.

Business News Wrap-up

Sun, 11 Mar 2018 - 05:06 GMT

A wrap-up of the most prominent business news of the day.

IFC supports DBACD to increase microfinance lending in Egypt

Sun, 11 Mar 2018 - 02:40 GMT

IFC will provide advisory services to the Dakahliya Businessmen Association for Community Development (DBACD) to ramp up ts lending to low-income citizens.

Microfinance registers LE 6.1B in Q3 2017

Sun, 17 Dec 2017 - 10:43 GMT

A number of 840 entities were granted licenses by the EFSA to operate in the microfinance sector.

Microfinance beneficiaries reached two million in 2017

Mon, 30 Oct 2017 - 04:59 GMT

70% of microfinance beneficiaries are women, amounting to 1.4 million, compared to 600,000 men. Most of these are from Upper Egypt.

OECD forum discusses women empowerment obstacles, solutions

Sat, 07 Oct 2017 - 12:32 GMT

The forum includes a presentation of a report prepared by OECD on women’s economic empowerment in six MENA countries.

NBE to raise SMEs portfolio to LE 44B by end of FY 2017/18

Sun, 10 Sep 2017 - 10:03 GMT

The small and medium enterprises (SMEs) portfolio will increase through the addition of 18,000 new clients to the current 56,000 clients in June

Microfinance sector grows 23% in 1H 2017

Sun, 06 Aug 2017 - 11:25 GMT

The number of beneficiaries from microfinance initiatives in that period increased 10 percent, registering 1.8 million, EFSA says.

Egypt launches 1st digital map for microfinance

Tue, 01 Aug 2017 - 03:22 GMT

Egyptian Financial Supervision Authority (EFSA) disclosed the 1st digital microfinance map, showing the licensed bodies that practice microfinance on Tuesday.

State program provides LE 108 million against poverty

Tue, 25 Jul 2017 - 02:24 GMT

There has been a program to combat poverty in Giza which executed 34,446 projects through local development associations.

Microfinance balances total LE 5B in Q1 of 2017

Mon, 10 Jul 2017 - 08:42 GMT

The value of the existing microfinance balances at Egyptian NGOs and companies rose 10 percent to LE 5 billion up from LE 4.5 billion in the previous quarter.