Tanmeyah Microfinance Egypt Eyes EGP 450 Mln Funds 2013/End

Tanmeyah Microfinance Company is aiming to increase the size of granted Funds of customers by the end of 2013, ranging between EGP 400-450 million.

Amr Abouesh, Executive Chairman of Tanmeyah Micro Enterprise Services, said in an exclusive to Amwal Al Ghad, Tanmeyah granted loans worth EGP 40 million per month which will contribute for increasing the credit portfolio to EGP 400 million or more by the end of 2013, compared to EGP 270 million in the end of August.

Abouesh added that his company is targeting to increase the portfolio to reach EGP 300 million by the end of the current year.

Abouesh has mentioned that Money transfer via mobile phone service abroad which will be provided by the Egyptian Gulf Bank (EGB) in cooperation with the company throughout the branches which circulated across governorates is going on, expecting to finalize it and launching the service by the end of this year.