Daily News Egypt

950 companies, associations in Egypt provide microfinance through 2,818 outlets - Daily News Egypt

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950 companies, associations in Egypt provide microfinance through 2,818 outlets

The number of existing outlets for Category A associations and institutions amounted to 722 outlets for 17 entities, and a network of 705 branches.


A total of 2,818 microfinance outlets in Egypt have been providing their services through 950 companies and associations, with a network of 1,868 branches since the end of 2020.

The number of existing outlets for Category A associations and institutions amounted to 722 outlets for 17 entities, and a network of 705 branches.

Category B outlets of associations and institutions recorded about 108 outlets for about 16 entities, with a network of 92 branches. Meanwhile, Category C associations and civil institutions outlets reached 986 outlets for about 906 entities, with a network of 80 branches.

There were about 1,002 outlets for 11 micro finance companies, and a network of 991 branches.

The report revealed that the activity had a major role in the Decent Life initiative, set up by President Abdel Fattah Al-Sisi, with about 71,200 beneficiaries taking part in the micro-financing activity within the initiative.

The report also revealed that the total financing balances amounted to about EGP 968m, with women accounting for 48.3% of the financing. 

The microfinance activity provided a total of about 122,000 job opportunities in villages for males and females.

Topics: microfinance

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https://dailyfeed.dailynewsegypt.com/2021/05/13/950-companies-associations-in-egypt-provide-microfinance-through-2818-outlets/
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