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Egypt’s microfinance activity increases to EGP 21.61bn in April 2021: FRA - Daily News Egypt

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Egypt’s microfinance activity increases to EGP 21.61bn in April 2021: FRA

Commercial sector receives largest share of microfinance at 61.4%


The microfinance activity in Egypt has reached about EGP 21.61bn in April 2021, up from the EGP 17.47bn recorded in April 2020.

A report issued by the Financial Regulatory Authority (FRA) revealed that companies provided 55.45% of the total financing. This was followed by non-governmental organisations (NGOs) and Category A institutions at 38.1%.

The share of Category C civil institutions recorded 3.33%, then Category B private institutions by 3.06%.

The commercial sector received the largest share of microfinance at 61.4%, followed by the agricultural activity at 18.33%, service activity 13.50%, whilst the manufacturing sector accounted for 6.85%.

The number of financing beneficiaries stood at about 3.256 million clients in April 2021, compared to 3.138 million clients in April 2020.

On the other hand, the FRA revealed that the CorpLease topped the microfinance companies during the period from January to April 2021, with financing amounting to EGP 4.095bn and a market share of 19.99%.

BM Lease came second with financing of EGP 3.476bn and a market share of 16.97%, followed by Cairo Financial Leasing Company with a market share of 8.07% and financing of EGP 1.652bn.

In fourth place came GB Lease, with a market share of 7.28% and financing amounting to EGP 1.490bn, then GlobalCorp which accounted for 5.70% of financing at EGP 1.168bn.

The Al Ahly Leasing Company came in sixth, with a market share of 5.11% and funds of EGP 1.046bn.

In seventh place came Al Taamir for Leasing and Factoring Company with a share of 4.86% and financing of EGP 994.8m, then Al Tawfeek for Financial Lease (AT Lease) with a share of 4.59%, and financing of EGP 940m.

UI Finance ranked ninth, with funding of EGP 617.2m and a market share of 3.28%, whilst the remaining companies acquired a 24.15% share.

As for the mortgage finance sector, Al Ahly Mortgage Finance topped the market during the period from January to April 2021, with a market share of 21.47% and financing amounting to EGP 410.3m.

In second place was Tamweel Mortgage Finance Company, with a market share of 21.47% and financing of EGP 410.3m. This was followed by Amlak Finance, with a share of 10.42% and financing of EGP 199.1m, according to the report issued by FRA.

In fourth place came Al-Tayseer Mortgage Finance with a share of 9.07%, and financing of EGP 173.3m, then Al Tameer Mortgage Finance with a share of 7.26% and financing of EGP 138.8m.

In sixth place, Ahli United Mortgage Finance came with a share of 6.87% and financing amounting to EGP 131.2m, and MLF Finance provided EGP 102.2m with a share of 5.35%.

The Egyptian Housing Finance Company provided about EGP 93.9m in mortgage finance, with a market share of 4.91%, followed by Contact company for mortgage finance with total funds of EGP 92.3m and a market share of 4.83%. In the 10th place, the Arab African International Mortgage Finance came with a market share of 4.80% and total financings of EGP 91.8m.

Topics: FRA microfinance

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