Tanmeyah Microfinance Egypt Pumps EGP430mn New Finance in 9 Months

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Egypt’s Tanmeyah Micro Enterprise Services Amr Abouesh revealed that his company has pumped EGP430million finance for clients within the first 9 months of this year, stressing that Tanmeyah is aiming to access EGP600 million finance in the current year.

In statements to Amwal Al Ghad on Wednesday Abouesh added that Tanmeyah’s portfolio reached EGP350 million for 185.000 clients till the last of September and it aims boosting it to EGP400 million by the end of the year.

Tanmeyah obtained from Egyptian Gulf Bank (EGB) which owns 17% from Tanmeyah EGP420 million total funds in this year.

Tanmeyah is targeting to introduce finance category ups to EGP200.000 and it will be applied in 3 branches to see if this category meets with highly demands or not, stressing that the company is targeting to get banking loan worth EGP15 million for financing this category.