Egypt’s microfinance portfolio increases 42.7% in Q3 2019: EMF

The value of Egypt’s microfinance portfolio increased by 42.7 percent during Q3 2019 registering 23.175 billion Egyptian pounds, the Egyptian Microfinance Federation (EMF)’s head Mona Zulficar said.

In addition, the number of beneficiaries has increased by 12.5 percent reaching 3.408 million clients, Zulficar added.

Zulfiqar further noted that the microfinance industry is witnessing a steady growth which reflects the government support for the sector.

NGOs and associations are ranked first in terms of number of clients in the aforementioned period, with an active customer base of 1.916  million capturing2 2.2 percent  growth rate, while it has came last in terms of total micro finance portfolio registering 7.2 billion Egyptian pounds.

Meanwhile, companies were second in terms of total beneficiaries  with total number of 1.097 clients by the end of the third quarter and with the volume of credit portfolio granted to clients registering 7.592 billion pounds which accounted to  61.4 percent growth rate.

However, banks that grant microfinance less than 1,000 pounds directly to companies and individuals came in third place in terms total beneficiaries with active customer base of 395 million and first in terms of the volume of credit portfolio granted to clients registering 8.29 billion pounds with a growth rate of 47.5percent.