Egypt’s Tamweely to open 15 branches at year-end

Egypt’s Tamweely Microfinance Company has opened its first branch in El Husseiniya, located in the governorate of Sharqia, early August, chairman Amr Abou El Azm said.

The company is planning to inaugurate six new branches in September to reach 15 branches across the Nile Delta area and upper Egypt at the end of 2018, the chairman added in a phone call to Mubasher.

Tamweely offers full-fledged financial products and services backed by technology solutions to channel finance to individuals and micro-enterprises,

In July, Abou El Azm said Tamweely was planning to inject 100 million pounds in financing between July and December.

In May, the company was in talks with banks to obtain a loan worth 200 million pounds.